I like the analysis and layman-speak that you use to interpret the technical side to those that are only lightly-versed in the Crypto Market. I, personally, have a bit of coin (very little) in about 5 different coins and have a few small BTC cloud contracts. I have put only a small amount of coin into the pursuit, so I'm pleased.
Obviously one of the next steps is the actually fund some into STEEM, which I plan to do.
A possibly rhetorical question (or 2): If I have $20 extra and were to buy in, the worst that happens is that I lose $20, correct? It's not like some of the Stock Market plans where you can actually owe in at the end of the day, right?
Correct. It's not like playing with leverage with a broker where you could straight up go into debt by running 100x leverage on a trade and getting burnt for $500,000.
You can run margins/leverage with trading and you can get burnt, I will not be going into a discussion on that.
The worst thing that can happen is you lose value, however, it is my opinion that only a foolish trader 'trades at a loss' if something is lower today, that's okay, just wait for it to recover again.
Look at btc after the mtgox thing, took 2-3 years to get back on an upward trend. :)
Yeah, I figure I'll add into my Crypto to some degree, but I won't care enough to try to ride the waves of day trading. I just want to fund and wait... hopefully it drops some for a bit so that I can buy in with less, but then as I keep pushing in a bit here and a bit there any upward trend is going to be profit.
I think my personal plan would be to fund it and then maybe fund a bit more on a downward trend, then try to sell enough to recoup the losses of the buy so that all the Crypto at that point is at a $0-loss value. At that point it becomes a win-win.
Then again, I may not even do the sell and just accept that buy as the value-loss and the rest is just icing on the cake. As long as it's not money I'm counting on, it won't be a big deal if it's gone.
I call that bounce trading, buy in hard at the bottom of a flashcrash or just before big news hits, wait for pump, sell 2-3 mins later just the investment you put in, getting back the value and leaving any 'profit' in the coin chosen, now you can play 'for free and with no risk'.
Pretty exciting stuff dumping a few k into a 5 minute trade and walking with $500.
Can burn you as well. Still exciting. :)