[sidlls]

Yes, and I've cashed out handsomely as a result of being lucky enough to predict exactly this.

For clarification: I bought some $1000s worth of LTC when it was under $100 shortly after the Futures news hit. It was pure gamble on my part and I could have easily lost instead of the other way around.

I also bought a few ETH coins when it was around $400 but haven't cashed those out yet. I'm predicting my LTC gains will be wiped by ETH losses.

[kss238]

Eth is at $630 right now, so unless I'm misunderstanding something, you'll have made money.

[sidlls]

Can't sell it because not all my coins are in my account yet, and no guarantee there won't be a rush to sell due to instability.

[make3]

christ you must have made ridiculous money with this

[sidlls]

Well, ridiculous in the sense that the whole phenomenon is absurd or relatively to what some people earn in a year, sure.

But I only made about 2.5x my wager, which wasn't much (less than $10000, more than $1000).

Also, as noted, much of a LTC gains could easily be eaten up by ETH losses. BTC is too expensive for my gambling taste.

[jeffwass]

To me, this kind of comment drives home the insanity of the crypto craze right now.

Complaints of "only" making a 2.5x return.

Or proposed strategies elsewhere in this thread of buying a coin, selling half "when" it doubles, not "if".

[sidlls]

I wasn't complaining. The "only" was in response to suggesting I made "huge" amounts of profit. I didn't gamble that much, and so I didn't make that much even with the return. My profit was less than my paycheck. 2.5x is better than anything I've ever made in equities (in fairness 90% of my strategy there is selling covered calls on dividend paying stocks) and far and away my best gamble on a percentage return basis. I doubt I'll ever be as lucky as that again.

But I agree it does highlight how insane the crypto craze is.

[kombucha2]

I locked in gains with LTC a few weeks ago like a rube thinking there was going to be a correction :( Locked in some good gains but missed on 70 thou plus USD....sigh...gotta keep trying though right?

[sidlls]

That isn't the way to look at it. Suppose LTC breaks $1000, or even $500. I'll have "missed out" on a lot. But I locked in gains, so I'm net ahead. Timing gambling like this is a fool's errand, in my view.

[kombucha2]

100 pc agree, it's hard not to fall into the FOMO trap.