Ethereum Protocol Developer Holds $115k Worth of DAO Tokens

Re:Ethereum Protocol Developer Holds $115k Worth of DAO Tokens by seibelj on Wednesday June 29, 2016 @09:34PM (#12006034)

Ethereum is such a mess! I have a close friend that invested $12k in ether, then the value increased to $40k, then he invested a ton into the DAO, which tanked, then he doubled down and purchased even more DAO at a discount on the assumption of a fork that would reimburse DAO tokens to parity and he would make a killing. He's sweating bullets over all of this. Last night he was going nuts over the soft fork crisis. I don't know how he does it, $12k is a lot for him

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Re:Ethereum Protocol Developer Holds $115k Worth of DAO Tokens by curiousgal on Wednesday June 29, 2016 @09:40PM (#12006059)

Investing 101: never invest more than you can afford to lose.

I shorted ether after this whole debacle started but the fact it's still trading above $10 is mind-boggling. I believe in the technology and that this will benefit it in the long-term but for now, it's either in one huge bubble or someone is fixing things up.

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Re:Ethereum Protocol Developer Holds $115k Worth of DAO Tokens by jfoutz on Wednesday June 29, 2016 @10:16PM (#12006181)

Even more important, Never speculate with more than you can afford to lose.

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Re:Ethereum Protocol Developer Holds $115k Worth of DAO Tokens by NickNameNick on Wednesday June 29, 2016 @10:32PM (#12006225)

Alternatively: A market can afford to be 'wrong' for longer than you can afford to bet against it.

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Re:Ethereum Protocol Developer Holds $115k Worth of DAO Tokens by fleitz on Wednesday June 29, 2016 @10:22PM (#12006203)

All investing is speculation.

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Re:Ethereum Protocol Developer Holds $115k Worth of DAO Tokens by jfoutz on Wednesday June 29, 2016 @10:37PM (#12006242)

ill agree nothing is zero risk. But there is way safer stuff than DAO

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Re:Ethereum Protocol Developer Holds $115k Worth of DAO Tokens by fleitz on Wednesday June 29, 2016 @10:47PM (#12006265)

Fully agree, I worked with the real jr mining industry, it's the exact same kind of bullshit.

Why not just call it BreX coin and drop the pretense?

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Re:Ethereum Protocol Developer Holds $115k Worth of DAO Tokens by soconfused1 on Thursday June 30, 2016 @07:29AM (#12007799)

TheDAO was explicitly a bad investment, it was like investing in Slockit but without having any actual shares or legal recourse.

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Re:Ethereum Protocol Developer Holds $115k Worth of DAO Tokens by ryanlol on Wednesday June 29, 2016 @09:51PM (#12006092)

My friend invested $5000 at a blackjack table in Macau, at one point his $5000 had increased to $40000. He ended up walking away with $2000.

The difference between the two stories is that my friend friend had a really good time. Why? Because he knew that he wasn't "investing", he was gambling. If your friend is gambling with more than he can afford, he has a gambling problem and should seek help.

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Re:Ethereum Protocol Developer Holds $115k Worth of DAO Tokens by dmix on Wednesday June 29, 2016 @09:57PM (#12006107)

Indeed, I have as much sympathy as your friend as someone who stresses over his 'investments' in alpha quality cryptocurrency software.

The primary motivation should be investing in technology and the concepts behind it, not looking for instant-rich ROI.

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Re:Ethereum Protocol Developer Holds $115k Worth of DAO Tokens by curiousgal on Wednesday June 29, 2016 @10:17PM (#12006183)

That is precisely how I trade. My positions depend on my long-term belief in the technology, if I believe in it then the general direction of my positions will reflect that. I'll short it, yeah but I'll always have a stash.

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Re:Ethereum Protocol Developer Holds $115k Worth of DAO Tokens by misframer on Wednesday June 29, 2016 @09:41PM (#12006064)

Sounds more like speculation / gambling instead of investing.

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Re:Ethereum Protocol Developer Holds $115k Worth of DAO Tokens by curiousgal on Wednesday June 29, 2016 @09:46PM (#12006078)

It really is much like that. Some people rely on Technical Analysis to make sense of things but TA is like Astrolgy to most crypto-traders.

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Re:Ethereum Protocol Developer Holds $115k Worth of DAO Tokens by RaSoJo on Wednesday June 29, 2016 @10:00PM (#12006113)

> but TA is like Astrolgy to most crypto-traders.

Isn't TA like astrology...period? i.e. not just to crypto-traders?

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Re:Ethereum Protocol Developer Holds $115k Worth of DAO Tokens by arcticfox on Wednesday June 29, 2016 @10:13PM (#12006174)

I can't speak to stocks, but I use TA tools for some relatively ineffecient markets that just have fundamental volatility and trends. I could write my own methods and algorithms but the TA guys already wrote them for me.

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Re:Ethereum Protocol Developer Holds $115k Worth of DAO Tokens by curiousgal on Wednesday June 29, 2016 @10:03PM (#12006125)

To be honest, I am not familiar with other forms of trading so I didn't want to make that statement.

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Re:Ethereum Protocol Developer Holds $115k Worth of DAO Tokens by jyap on Wednesday June 29, 2016 @09:41PM (#12006063)

Sounds like greed to me. Don't invest more than you can afford to lose.

At one point his $12k became $40k. Proper risk management and he can then invest with his profits.

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Re:Ethereum Protocol Developer Holds $115k Worth of DAO Tokens by adam419 on Wednesday June 29, 2016 @11:00PM (#12006299)

Yep, this is why pro's have clearly established stop-loss and take-profit levels before they enter a trade.

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Re:Ethereum Protocol Developer Holds $115k Worth of DAO Tokens by meddlepal on Wednesday June 29, 2016 @10:39PM (#12006248)

Exactly. Take the 300%+ return . Get out of the game ahead. Doubling down is risky.

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Re:Ethereum Protocol Developer Holds $115k Worth of DAO Tokens by notyourwork on Wednesday June 29, 2016 @10:43PM (#12006258)

Heck at least pull your principle out and ride the rest.

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Re:Ethereum Protocol Developer Holds $115k Worth of DAO Tokens by bbcbasic on Thursday June 30, 2016 @12:08AM (#12006503)

Hindsight bias.

He probably shouldn't have gambled the $12k to begin with, even though the first spin of the wheel turned out ok.

Assuming $12k is a lot to this guy.

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Re:Ethereum Protocol Developer Holds $115k Worth of DAO Tokens by jaekwon on Wednesday June 29, 2016 @09:59PM (#12006112)

Sometimes having skin in the game can help one learn. But one must never forget to learn, must develop a risk mitigation strategy that allows one to continue saving.

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Re:Ethereum Protocol Developer Holds $115k Worth of DAO Tokens by cloudjacker on Thursday June 30, 2016 @12:27AM (#12006563)

He can still sell his DAO tokens at nearly at par, what is the problem?

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