Looking to purchase roughly $100 USD in FTC
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$2 may not be redicoulous in the future but it is right now. It’s paying triple market value for something. Regardless of if I “think” FTC is going to heavy rally it doesn’t make sense. I purchased 41,000 shares of HEMP last week at .011 should I have paid .033 just because I think it’s going to do well? When was the last time you bought a ps3 game for $180?
Even if I end up not able to work with somebody on this and it shoots up well past $2 i will have lost out on potential profit, but, I still made the right investment decision.
Kevlar I will look into that, not having to link a bank account would make me feel less suspicious.
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[quote name=“Egnar” post=“40214” timestamp=“1386271028”]
$2 may not be redicoulous in the future but it is right now. It’s paying triple market value for something. Regardless of if I “think” FTC is going to heavy rally it doesn’t make sense. I purchased 41,000 shares of HEMP last week at .011 should I have paid .033 just because I think it’s going to do well? When was the last time you bought a ps3 game for $180?Even if I end up not able to work with somebody on this and it shoots up well past $2 i will have lost out on potential profit, but, I still made the right investment decision.
Kevlar I will look into that, not having to link a bank account would make me feel less suspicious.
[/quote]Of course it makes sense. In X amount of time in the near future you might be trying to get FTC for $40 because you don’t want to pay $120 for them on ebay, then looking back you probably would’ve just wished you’d’ve paid the $2. If you think paying 3x as much is out of the question, just get them from an exchange. And the ps3 comparison is ridulous and compeltly irrelevant. Since when do the prices of ps3 games fluctuate like cryptocurrencies?
[quote]Even if I end up not able to work with somebody on this and it shoots up well past $2 i will have lost out on potential profit, but, I still made the right investment decision.[/quote]
I’m not so sure about that. Sounds to me like you would’ve just wasted the opportunity to make a lot of money because you were too stubborn and cheap to pay a little extra for the convience of paying with PP. So I think you have two options: Pay the premium or find an exchange.
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My ps3 game analogy was sarcasm. My stock analogy was not, odd that you choose to focus on the clearly bogus example and ignore the one that follows the same possibilities as crypto, penny stocks.
You’re looking at this from a “FTC will definitely increase no matter what” point of view, which is dangerous. I’m looking a it from the point of view of somebody who understands risk versus reward and the ideals of a longtime investor.
I’m not being stubborn on bein safe. Crypto currency is new. Even bitcoin is still new, which means even the biggest exchanges and websites are still unproven. Hell, as of today people were claiming btc-e is a scam, and that’s huge. I’m not about to throw my bank account information around the Internet without being assured I’m not going to lose my identity.
I expect to pay a premium for the I convince of paypal and eBay. 3x market value is highway robbery, regardless of how you feel the future may go.
As I said though, I understand people may be skeptical or may be unwilling to sell at this point in time, and that’s ok… This is just an option for people
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[quote name=“Egnar” post=“40269” timestamp=“1386275915”]
My ps3 game analogy was sarcasm. My stock analogy was not, odd that you choose to focus on the clearly bogus example and ignore the one that follows the same possibilities as crypto, penny stocks.You’re looking at this from a “FTC will definitely increase no matter what” point of view, which is dangerous. I’m looking a it from the point of view of somebody who understands risk versus reward and the ideals of a longtime investor.
I’m not being stubborn on bein safe. Crypto currency is new. Even bitcoin is still new, which means even the biggest exchanges and websites are still unproven. Hell, as of today people were claiming btc-e is a scam, and that’s huge. I’m not about to throw my bank account information around the Internet without being assured I’m not going to lose my identity.
I expect to pay a premium for the I convince of paypal and eBay. 3x market value is highway robbery, regardless of how you feel the future may go.
As I said though, I understand people may be skeptical or may be unwilling to sell at this point in time, and that’s ok… This is just an option for people
[/quote]I’m well aware cryptos can tank, that’s why you only invest what you are willing to lose, but the risk vs reward looks to be worth the gamble to me (maybe it isn’t to you). I know what would upset me more out of spending £6 on FTC and seeing them become worth 0, to not buying them and seeing them become worth numerous times what I paid for them. The share example is also not really applicable. Cryptos are a different ballgame. If the shares are only worth .011 and people are only selling and buying them for the .011, then that’s the going price. If you wanted to buy the shares on ebay rather than go through a proper dealer/exchange with the convience of paying with paypal instead of bank transfers; then yes, you would probably have to pay the premium of .033 / x3 their worth. That’s the sacrifice and price you have to pay. You just have to weigh up the risks and x3 their price is hardly highway robbery; nobody is forcing you to buy them. It’s is pure supply and demand and people are obviously prepared to pay this price for the convenience.
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This is where we differ. I’m investing…you’re speculating.
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[quote name=“Egnar” post=“40282” timestamp=“1386277635”]
This is where we differ. I’m investing…you’re speculating.
[/quote]Eh? You are doing both. You’re investing in the hope that the price rises. Please tell me how you’re not speculating on the price here? We’re both in the exact same boat, apart from you are not prepared to pay x3 the price, but will pay a currently undisclosed premium. So have I not invested in my coins, I’ve just speculated on them? I seem to have made a half-decent investment on them already, so whether I speculated and/or invested in them it seems to have paid off. That premium price of £70 I also speculated on BTC in september seems to have returned a decent investment too.
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I’m not saying you cannot make money by speculating, you can make lots of it, you can also lose lots of it very very fast. Actually, the same can be said about investing, but, when you invest you’re going into something with a reasonable expectation of the future based not only upon past performance/track record but also upon current earnings, market trends and public opinion.
So I suppose you’re right, in the sense that we’re both speculating here because as much as we’d both love for crypto [FTC in particular] to take off so we can make more money we really don’t know where public opinion/acceptance is going to go tomorrow. . we can only speculate based upon our own opinions and of those around us - market trends, especially for anything that isn’t BTC is just too volatile to say there is a track record to look at. But, I’m going to go in with an investors attitude.
Lets forget about the actual numbers and use easy ones just for a minute. Lets say FTC is trading on major exchanges for $1 but is selling on ebay for $3. Lets also say I have $300 to spend.
If I purchase at current market value, or at least close to current market value I’ll receive 300 FTC [scenario a], whereas I’ll only receive 100 FTC from ebay [scenario b].
Now lets say FTC tanks down to .25 USD=1FTC for the future starts to look bleak, as in it doesn’t look like the price of FTC is going to recover back past $1 but will either continue to tank or stabilize sub $1. If I decide to cut my loses:
[b]Scenario A:[/b] I sell my FTC and make back $75 - 25% of my initial investment
[b]Scenario B:[/b] I sell my FTC and make back $25 - 8.3% of my initial investmentNow lets say FTC jumps up to 10 USD=1FTC in a year and whether or not it looks like it’s going to continue rising I decide to sell it to make back a little cash.
[b]Scenario A:[/b] I sell my FTC and make $3,000 - 10x my initial investment
[b]Scenario B:[/b] I sell my FTC and make $1,000 - 3.3x my initial investmentIn my scenario whether I win or lose I make out better. In your scenario your risk is higher and your reward is lower. It doesn’t make much sense. Now, we’re just looking at $100 [or, $300 in the scenarios], but that’s only because the crypto market is new to me and I’d like to start very small to help me learn - so if I do lose out no big deal - Hence why we turned it into a percentage game.
It’s not that I’m unwilling to use exchanges, or other more secure payment methods. . .it’s that I don’t know enough right now to know which ones I can trust with very sensitive information and which ones I should stay away from. When this forum is suggesting BTC-e and as of this morning we’re seeing problems arise with BTC-e, it makes even big exchanges look bad. In the future, when I’m more than 2 weeks into my research, my doors will open up even more. Like I said, if nobody wants to sell it’s not a big deal to me, it is what it is. But once again, Kevlar made a very good suggestion, a payment processor that seems to help tackle my biggest fears, and I will research it further [and appreciate the advice].
2? years ago when NFLX tanked because they tried to split into 2 companies was when i first started getting into investing as more than just a “long term” guy. NFLX dropped down to $40 or so from $300 and I knew it would bounce back up to $100. I didn’t take the longterm bet (but on my advice my brother did and made $20,000) because it was too big a risk based upon many factors. . it’s now at $350. While a small part of me wishes I had put in all of my money like I planned (which would have been a huge boost for me) a much bigger part of me knows that based upon the information i knew [b]at the time[/b] and not using my magical “20/20 hindsight” I had probably made the right decision.
Edit: it’s worth noting, that my scenario isn’t a “pipe dream”. It’s expecting something at a fair premium above market exchange rate. My scenario can happen. And even if it happens next week at market value of $3 instead of ebay value of $9. I’d much rather pay that higher price knowing it was an acceptable market price than pay $2 and feel like I was being ripped off.
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[quote name=“Egnar” post=“40303” timestamp=“1386280596”]
I’m not saying you cannot make money by speculating, you can make lots of it, you can also lose lots of it very very fast. Actually, the same can be said about investing, but, when you invest you’re going into something with a reasonable expectation of the future based not only upon past performance/track record but also upon current earnings, market trends and public opinion.…
[/quote]My advice is, this game is too risky for you. Just sit and watch and drink some wine or coffee. You’d probably have more fun with that and get better value from the wine or coffee.
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I mean this in the very nicest way possible, like I know it’s going to come off as harsh but it’s not my intention but I wasn’t looking for your advice - I know what I’m doing and I only put money in that I’m willing to lose.
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Deposit your money to BTC via VirWoX, they take PP->BTC then exchange that money to FTC via BTC-e or other exchanges.