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/biz/ - Business & Finance

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5700029 No.5700029 [Reply] [Original]

how long do you business fags think it will take to become a millionaire if i invested $100 into cryptocurrency? assuming i make all the right moves a.k.a buy low, sell high, or as /biz/ knows it, buy high sell low.

>> No.5700056

>>5700029
2.5 years

>> No.5700059

>>5700029
youre too late to turn 100 into a million

>> No.5700076

>>5700029
Never thanks to the new tax laws

>> No.5700168

what about 1000.-?

>> No.5700198

>>5700168
if you could turn 1,000 to a million, I could turn 100,000 into 100 million

does that make sense to you?

>> No.5700229

>>5700198
no, you need more liquidity. for example a guy has 3.3billion reddcoin which is like $50m but he wont be able to sell all of that at current prices.

>> No.5700244

too late to turn 100 into a million. If you get lucky though, pick a penny crypto and wait 2 years and its totally possible. Highly unlikely.

>> No.5700272

>>5700029
litterally just buy ripple and hold.

>> No.5700275

>>5700059
>>5700244
how much usd minimum would i have to invest?

>> No.5700295

>>5700275
10k this year

>> No.5700308

>>5700076
the loophole is real kek

>> No.5700323

>>5700275
1000 in a small, truly good coin.

>> No.5700332

Just bought 20k BZC, who cares, maybe it'll get to the normies.

>> No.5700338

>>5700295
mfw i dont have close to that
ill find a way

>> No.5700349

>>5700029
>assuming i make all the right moves
2 months tops

>> No.5700405

>>5700275
Minimum 1k into a trust worthy coin with a lot of potential. Check out coins that are between 100-300 on coinmarketcap. Start with the coins you have heard about and research.

>> No.5700409

>>5700338
work a shit job or just have a high iq and bullshit your way to a 50k/yr office job while lying on the application/interview collect and hodl

>> No.5700481

>>5700275
get really really good at day trading

and I mean like every day read books and aim for 5% a day in returns
>>5700229
however you could invest in a higher market cap coin

>> No.5700516

if only i was here when everything fucking dipped lel

>> No.5700642

if i fail making dinero with cryptocurrency, ill probably just enlist, ive got nothing better to do anyways

>> No.5700718

>>5700516
>>5700642
If the market keeps going the way it is you will x5 from holding this year

>> No.5700756

>>5700718
>100 to 500
+1

>> No.5700786

>>5700718
not a bad deal, the more i earn, the more profit to be made if im not retarded

>> No.5700797

>>5700756
So work and put in 10k

>> No.5700834

>>5700338
Honestly bro, just pump small new coins
Like Deepbrain Chain right now is super new and tons of hype
Buy in when it's first added, sell once it pumps a bit...
It started at $.08 (where I got in)
Right now at $.13, so already > 50% gains

That's not a lot when you're starting with 1 grand, but after a few trades it adds up

>> No.5700898

>>5700834

Where do you get info about new coins stuff?

here on /biz/ ?

>> No.5701176

>>5700029
Consider the following: If you put in $1,000 and made 38 trades with a 20% gain on each of those, you'd have $1,000,000.

That is, assuming you go all-in every time and never mess up.

>> No.5701228

>>5700898
A mixture...
Some biz, some reddit, some forums, some just following developers of projects to new projects
Some exchanges like Binance/Kucoin will announce when they're about to add coins as well

>> No.5701262

>>5700275
1-3k

>> No.5701264

>>5700898
lurk enough to discern

>> No.5701310

if you make 10% a day (easy if you make all the right moves day trading), would take 100 days to get 1 million usd off 100 dollars

>> No.5701393

>>5701310
I...don't think that's how the math works...

>> No.5701507

>>5701393
You must be retarded

(1.1^97)*100
So, 97 days

>> No.5701538

>>5701507
But if you make 10% off $100 you only made $10. And then $11 off of $110 the next day.

>> No.5701585

$100?
not sure if you're being serious but I will give a legitimate response.

yes. if you play your cards correctly.

>> No.5701611

How the fuck is it too late?

There's a penny crypto out there that will 1000x or more in 2018.

100 means you find 4 10x coins and you have a million. Not impossible you pussies.

>> No.5701613

>>5701538
Yes that's how it works. Calculate what happens if you do that for a hundred days.

>> No.5701680

day 1 100 = 10
day 2 110 = 11
day 3 120 = 12
Do this 100 times and you wont have made anywhere near a million.
You know if you want to invest the $10 you made you have to sell, right?

>> No.5701739

I'll tell you the secret but most pajeets on here will ignore it. Learn TA, and read up on up and comer coins. Buy only when a coin has started moving up and then goes into the red for days at a time. (This is called buying the fucking dip). Wait until red turns to neutral, maybe green, THEN buy. Worst case, the coin tanks and where you bought you can easily sell out at on the next rally, as opposed to 95% of ppl buying the breakouts and left holding their dicks. Most wont listen to this tho

>> No.5701787

>>5701739
in short, when you see ++ % green on your bitfolio, dont fucking buy (this will go against your human instinct). When it turns red, dont buy either, but start tracking it for entries.

>> No.5701823

>>5701611
yeah sure if you can find that one penny crypto in tonns of other shitcoins

>> No.5701852

>>5701787
so i should look at algorithms in order to predict whether i'd profit or not?

>> No.5701925

>>5701538
It's compound interest which grows exponentially. At 10% you double your money roughly every 7 days. 100, 200, 400, 800, 1600, 3200, 6400, 12800, 25600, 51200, 102400, 204800, 409600, 819200, 1638400. That was 15 doublings which is about 105 days using 7 days per doubling as our standard.

>> No.5701958

>>5701852
>no what I mean by TA, is learn to recognize when support is being built. If you only buy on support the market will carry your ass when you've goofed. Prior support turns into resistance. And you if you mistimed it, then you can most like sell out on the next rally vs buying the top and breakouts.

Think of paying wholesale vs retail. Smart money always looks for wholesale prices to get in. Normies see a coin in the green and moving and think "I've gotta get in!"

>> No.5701967

>>5701852
>so i should look at algorithms in order to predict whether i'd profit or not?

2 main strategies:
Using technical analysis on the charts
Using fundamentals

Technical analysis is pretty much voodoo witchcraft but alot of people use it so it's somewhat helpful

Fundamentals use actual history, facts, market conditions, etc... to predict the direction.

Many people use a hybrid of the two methods to develop their own indicators that they feel works best for them.

>> No.5702066

>>5701925
Too bad actually finding 15 coins that increase by 10% in a row day by day is near impossible.

>> No.5702101

>>5701958
ah, okay. makes more sense

>> No.5702142

>>5702066
You don't actually need a 10% increase per day on your portfolio

Say an alt goes up 15%, and ETH only 2%, and you switch from alt to ETH
Day 2, ETH dumps 4% and your chosen alt dumps 12%, and you switch back to the atl

(1.15/1.02)*(.96/.88) = 22.99% increase in tokens
If you increase your token count enough, when you get the eventual upswing, you could cash out

>> No.5702168

>>5700029
Time to make you cringe.

If you were 6 months early to this with the same $100..

You could've bought XRB at 1 cent, it's $20 atm.

That's 200k in 6 months.

From there it's just a few more weaks of high risk plays to 1M.

You missed out.

>> No.5702232
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5702232

>>5702142
Actually, the way it works is you switch from alt to ETH, the alt keeps pumping so you FOMO back in then the alt dumps and you lose even more.

>> No.5702262
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5702262

>>5700029
dont listen to these crab in a bucket fags. You can make 100K from 10 trades. Do your research, there are several coins that do 100%+ over the course of a few days...

>> No.5702273

if u make all the right moves you could be a millionaire in less then 3 months

>> No.5702296

>>5702168
hot tub time machine me pls

>> No.5702346

is it possible to go from 1k to 100k in Q1? which coins should i all in? missed xrp xrb and many moons

>> No.5702361

>>5702346
DBC

>> No.5702368

>>5702168
But why would anyone buy xrb over the tons of other shitcoins? It's just a gamble. XRB happened to win. If it was something else like TRX youd be saying the same thing.

>> No.5702376

it depends where you put that $100 investment

>> No.5702433

>>5700272
Get a load of this goy...

>> No.5702439

>>5702066
Well, yeah. I was just trying to explain how the math worked out.

Compound interest is one of the core concepts to understand in finance, it's why it is important to start saving for retirement early in your life. Not understanding is part of what keeps poor people poor. I work in finance and the number of people who haven't ever been exposed to these concepts is a fucking travesty. It's why there are so many poor fuckers who invested in shit like beanie babies and can't provide anything for their children.

>> No.5702508

>>5700481
which books do you recommend?

>> No.5702524

>>5702439
Any retards trolling through here trying to learn some shit should listen to this guy
Compounding interest > all

>> No.5702531

>>5700029
Just 10x it 4 times

>> No.5702534 [DELETED] 

Just look at Mcafee's twitter posts. Someone calculated that if he invests in each coin he promotes, he'd reach 5 million by the end of the week. There's too many new players who don't know squat. That's why P&Ds are the way to go. Already doubled my BTC off of one P&D this morning. https://discord.gg/3BAnZy

>> No.5702567

>>5702508
Bulkowski's Encyclopedia of Chart Patterns is the bible of TA. But it's really only the beginner bible, but you should absolutely start there.

>> No.5702578 [DELETED] 

>>5700029
IN A MONTH
https://discord.gg/FXCnXek

New Pump and Dump group, looking to pump a new coin everyday once 5000 in group

>> No.5702591

>>5700029
If you made ALL the right moves you could turn $100 into $1M in a month, easy. There is a 3x scamcoin opportunity daily. Actually finding that coin before it pumps, amidst a sea of worthless shit tokens that will never go anywhere, is a different matter.

>> No.5702606

>>5702567
You can read TA books that are literally almost 100 yrs old and they're describing the same patterns that are occurring now. There's nothing new under the sun in TA.

>> No.5702619

Just get mooncoin. Went up 80% amd isnt evenIk a cent. Heard it first here

>> No.5702646

op.. i started with 100 like you... all i did to become a millionaire was 10x it 4 times in a year... what i did was put it in an ico.. it 10x'd in 3 months.. then i repeated that 3 more times.. now im a fucking millioanire

>> No.5702688

Dont listen to these dumb fucks OP.

I've been here since summer and turned 1k to 100k

This year gonna be way sicker

>> No.5702697

>>5701852
Trading is all about keep a level head and removing your emotions. TA helps people with that buy giving them something mathematical they can use to justify buy and sell points, other than that it is not much help to you. As long as you are not afraid of buying and selling and not getting attached to the coins you have, you should be ok

>> No.5702770
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5702770

>>5702688
>tfw I don't even have 1k to spare to begin with

>> No.5702785
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5702785

>>5702619
>buying a moon AFTER its done mooning

The secret is to buy BEFORE, anon.

>> No.5702827

>>5702688
What coins have you hopped?

>>5702770
You're living wrong, then

>> No.5702839

>>5702827
Well excuse me, my mother has stage 4 cancer and shitty insurance.

>> No.5702864

>>5700275
it depends

it only takes one gem to turn small bucks into a proper portfolio amount you can work with

its not so much a question of how much do i need to make a million.. its how much do i need to make lets say 10k and how knowledgeable will you already be at that stage , 100x gains on your usd next year wont be hard at all in my honest opinion if you play the game smart. once you get 10k i feel thats the upper bracket for the average person and enough to make a proper portfolio with a mix of solid coins, mid caps and gems for mega moons.

with 100 youre literally better of just gambling (not at a casino but shitcoins). like gem hunt for single sat coins, i started with 500, bought BUZZ for 5 sats, it mooned i sold it for 40 sats and boom.. 4000 dollars which back then was a full bitcoin.

or even better.. like just get a job.. or sell some shit, everyone has shit they dont use.. gadgets, tech shit

>> No.5703160

>>5700029
If you litterly make all the right moves you'd know if hindsight, it can go really fast. Perhaps 6 months to 1 year. Maybe even faster. Last year top trades, we're ETH and NEO. 100$ getting in and out at the right times = guarranteed millionaire

>> No.5703178

>>5701823

It's not that hard to find good small caps.

>> No.5703278
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5703278

>>5701680
>>5701538
>>5701393
imagine being this stupid

>> No.5703315

>>5700275
$10k in LINK, 1 year.

>> No.5703569

Brother made it into the millionaire club this year from just 15k initially. I made it to 100k from $500. All we did was invest in the big boy coins (btc, eth, ltc, xrp) and gambled a little bit with smaller alts (sia, dgb, lsk).

>> No.5703981

>>5701680
dude just grab $100 and then use the windows calculator to multiply for 1.1 for 10% profit

30 days 1744
60 days 30k
90 days 531k

>> No.5704025

>>5703981
That is stupid amounts of risk though.
Risking like 30k a shot for 10-20% fine, but anything more than that is stupid to go all in with.

>> No.5704028

>>5701310
>hes not factoring short-term capital gains tax

>> No.5704063

>>5702368
Lmao Compare TRX's market cap with XRBs.

Back then XRB was a sub 10m shitcoin.

TRON came into the game with like 1BN mktcap, valued at .3 cents lmao.

>> No.5704093

>>5704025
Nobody said it wasn't risky, it's just saying that it is possible. Perhaps you can try different systems to bet on coins, for example instead of having only one coin, use $500 to have five different lines of investment open. Each line you could invest on a coin which you think would moon, we're talking that most coins jump up or down more than 10% in one given week, so you could have an array of coins that you could dump whenever you see profits. Not a great strategy, just saying in theory $100 to $1m in a year is very very possible

>> No.5704101

>>5704025
Those with only $400 in their portfolio can't imagine what it's like to have 3-5 years of expenses invested and not be able to bring yourself to all-in it

>> No.5704105

>>5704063
Actually shortly after I made that post TRX suddenly shot up and mooned so go figure.

>> No.5704131

>>5701680
surely troll

>> No.5704464

Can I turn 120k into 1m by the end of next year relatively safely? I don't want to go all in on shitcoins, but I don't think ETH, XLM, etc. will do an 8x in 1 year. it seems like the market has been sideways since bitcoin futures were created except for the ripple moon mission.

>> No.5704488
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5704488

Will I be a millionaire?

(I also have 5BCH on coinbase that idk what to do with)

>> No.5704527

>>5704464
OMG

>> No.5704573

>>5704527
I have like, a few hundred.

>> No.5704591

>>5704464

What are you talking about bitch? Ripple will hits $10.000 in two years

>> No.5704592

>>5704573
Dump it all in, hodl till PoS and sell off when the hype carries it past an amount that's reasonable for the % returns it will get

>> No.5704654

>>5700029
Funny story anon I invested $250 in the middle of the summer I got in on a shit coin that money, traded some btc ltc and eth for a little, went for an ico and got scammed out of half my money. Lost some money on dumb trades (fomo) then dump. I then started doing hardcore research and found a gem I'm at 12k from my first investment of 250 dollars that gem is called dragonchain btw

>> No.5704666
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5704666

>>5700275
3 Million minimum then buy anything other than BTC

>> No.5704694

I'm going to put most of my paycheck into crypto every week. The rest will go to living, fixing my credit (it's actually quite good but I have some collections to pay) and I want to start my IRA and maybe some ETFs but I'll figure that out later.

Should I hold mostly btc while playing with alts with a small percentage? Or should I trade alts with everything?

I need enough money to buy the state of Florida

>> No.5704733

>>5700029
All the right moves? 9-12 months

>> No.5704771

>>5700323
but what makes a coin good?

>> No.5704793

>>5700029
daytrading is for losers

look for promising icos and invest long term, preferably into shit that has actual uses irl and will survive the bubble bursting

>> No.5704929

>>5700898
Think of biz like finding a deal on craigslist. You sort through tons of peoples shit who all think their item is top quality. You need to learn whats quality and whats shite. Reddit can be good for leads but be careful of the hive mind, everyone believes hype or blows small shit out of proportion. However they soak in normies and have mass numbers so theres something to be said for that. Read white papers, scour twitter and linkedin. Most of all learn the game and remember that everyone is out for themselves so be careful.