Cryptocurrency millionaire. AMA about investing and trading

[Seth Walsh]

title

 

[Deleted member 53670]

next hot thing to invest in?

 

[Seth Walsh]

next hot thing to invest in?

I can't give predictions because I can't predict the future. The best thing to invest in long term is the S&P500 total return index.

 

[Seth Walsh]

BUMP

 

[SecularIslamist]

I should be too but I'm a gay bear who sold things when they went 3x rather than 300x.

 

[Seth Walsh]

I should be too but I'm a gay bear who sold things when they went 3x rather than 300x.

brutal

 

[Pikabro]

I should be too but I'm a gay bear who sold things when they went 3x rather than 300x.

What a wasted life

 

[SecularIslamist]

I can't give predictions because I can't predict the future. The best thing to invest in long term is the S&P500 total return index.

Sounds advice once you've hit a million tbh..

But aren't you investing in different tech? Blockchain is over saturated - it's reached a limit for return/reward. Normies everywhere anyway. The next 100-10000x is like playing the lottery.

I'm in syn-bio, quantum, green tech, storage etc.

 

[Seth Walsh]

Sounds advice once you've hit a million tbh..

But aren't you investing in different tech? Blockchain is over saturated - it's reached a limit for return/reward. Normies everywhere anyway. The next 100-10000x is like playing the lottery.

I'm in syn-bio, quantum, green tech, storage etc.

Well cryptocurrency investing and trading presents a great opportunity to build wealth fast. But you need a job and a stable income of course; and to separate the two.

It's all risk/reward man.

 

[6PSLcel]

What was ur initial investment, like how much and what did u put money in ?

 

[Seth Walsh]

What was ur initial investment, like how much and what did u put money in ?

Only about $1k

And I put it in Solana and made some huge profits in $CAKE around Christmas too.

 

[SecularIslamist]

Well cryptocurrency investing and trading presents a great opportunity to build wealth fast. But you need a job and a stable income of course; and to separate the two.

It's all risk/reward man.

Since when was it stable? Bitcoin has been 'relatively' whereas every alt aside from Eth has been a shit show. How long have you been in crypto? I have PTSD from 2017-2018.

S&P is stable but that too looks way overvalued.

 

[6PSLcel]

Only about $1k

And I put it in Solana and made some huge profits in $CAKE around Christmas too.

And from that u became a millionaire ?

 

[Seth Walsh]

And from that u became a millionaire ?

Yes

 

[6PSLcel]

Also what is there to actually “learn” within the whole crypto/trading scene, obviously you can’t predict anything, but how do I know what to invest in as opposed to me just gambling

 

[Seth Walsh]

Since when was it stable? Bitcoin has been 'relatively' whereas every alt aside from Eth has been a shit show. How long have you been in crypto? I have PTSD from 2017-2018.

S&P is stable but that too looks way overvalued.

S&P is the most stable thing ever and the SPTRX index has given the best cumulative returns of all time. If you can put half your money in a low cost index fund that tracks the SPTRX, with all dividends reinvested, and half your money in a hedge fund with nice drawdown diversification versus the S&P, then rebalance each portfolio by moving money from one to the other, when 1 gets into a huge drawdown; then you've pretty much found the best wealth generation system possible.

For example. A hedge fund returns 120% in 2008, S&P gets into a 45% drawdown. Rebalance things by moving money from the fund into the index, and vice versa. Allocate more money to the hedge fund strategy once the stock market outperforms. And ensure they're negatively correlated but still producing year-on-year returns.

When I was talking about "stability", I meant you need income, a 9-5 or some sort of job so you can live, so you're not mixing taking money out of your current account, savings account or pension and gambling with it in stocks or crypto.

I guess I am talking from the perspective of someone who already has enough money to look at long term growth vehicles. To make money initially you need to put in the time and hard work, and be smart with your money and investments - that's all really. Risking more than you can afford to lose, or getting into debt and taking out loans will ruin your life.

 

[Seth Walsh]

Also what is there to actually “learn” within the whole crypto/trading scene, obviously you can’t predict anything, but how do I know what to invest in as opposed to me just gambling

There's nothing to learn except trading rules and strategies (which are unrelated to crypto), but can be applied to the crypto markets. If you're not following a rules based system, you are gambling. Listen to some podcasts or read some old books from traders and try see what their philosophies and approaches are. There is no guarantee to make tons of money in crypto, everyone believes the possibility is greater than it is. The issue is, people lose all their money and can't play the game anymore. You need to play the long game and be patient. Good things take time and require discipline, insight and patience. No one can predict anything, everyone says they can; it's BS.

 

[6PSLcel]

There's nothing to learn except trading rules and strategies (which are unrelated to crypto), but can be applied to the crypto markets. If you're not following a rules based system, you are gambling. Listen to some podcasts or read some old books from traders and try see what their philosophies and approaches are. There is no guarantee to make tons of money in crypto, everyone believes the possibility is greater than it is. The issue is, people lose all their money and can't play the game anymore. You need to play the long game and be patient. Good things take time and require discipline, insight and patience. No one can predict anything, everyone says they can; it's BS.

And what about trading servers, where do I find good legit ones ?

 

[Seth Walsh]

And what about trading servers, where do I find good legit ones ?

I don't know what they are. If you mean telegram and discord groups, they are scams obviously.

 

[shieldzz]

In what game are you millionaire?

 

[p0lishsubhuman]

when do you predict will Solana hit 1-2K?

 

[SteveRogers]

I have everything in solana atm, took your advice ages ago.
Decent gains tbh, but nothing since it’s essentially a months wage that took 1.5 years to get into my bank account jfl.
I play low risk / low reward with it generally, aka $100 here and there type stuff.
Do you ever invest in those $0.0000567 or whatever coins?