Bitcoins/Litecoins/Virtual Currencies

Lambourne

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Doge is entirely manipulated, it has no fundamentals to base a strategy off. It's entirely hype driven. Doesn't mean you can't ride the pump and try to take money back off the table as it goes up. It's just very risky because it's hard to tell dips from dumps on the way up in something that fluctuates that much. If you buy in near what turns out to be the top you are screwed.
 
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pharmakos

soʞɐɯɹɐɥd
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It seems like I would need to spend as much time studying and tracking crypto as I do studying the markets to be successful. And there aren't enough hours in the day.

Just start reading some articles and following some threads and it will click eventually.
 

pharmakos

soʞɐɯɹɐɥd
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o the "moon

Sell half at the peaks and buy in the dips is the ideal strategy pretty much. If you had pure foreknowledge it would be 100% instead of half obviously but yeah. At least if you only do half and be careful you don't end up hurting yourself too bad on fuckups.
 
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Arden

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People definitely pumping. It's a war between the pumpers and the sellers.
 

Rajaah

Paperhands McGee
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We had a thread for this previously on foh~ Not really sure if this should be in general or technology, this seems as good a place as any.


Bitcoins just hit $17.40 US today passing their 2012 high of $16. Theres now a few thousand vendors taking bitcoins as payment, as well as word press now accepting them. It's now possible to have a bank account in the EU (France specifically) backed by bitcoins and places like Iran have citizens bank their money away in bitcoins as a way of protecting them against inflation. The currency by all accounts seems to be taking off with 2013 being a huge year for it.

Next-gen mining hardware (ASICs) is starting to ship with Avalon shipping a couple units of their 66Gigahash, but who knows when the rest will ship. Mid-Feb should see all the different butterfly labs hardware shipping to initial pre-orders. I have myself setup to get a Single SC (60Gigahashs). Over the next couple months this is going to be insanely disruptive to coin generation and effectively destroy GPU mining.

Litecoins are also taking off as well as an alternative to bitcoins, and I imagine it'll get even more people backing it as GPU mining will still be profitable. (ASIC miners can't do the math for litecoin generation).

It's definitely interesting times ahead in terms of online currencies.

Just want to quote the first post on this thread, from the beginning of 2013.

$17.40 for a Bitcoin.

...........sigh.

Anyway, is Ethereum still a good bet? Seems like it has a much higher ceiling for growth than BTC due to the lower value at this time. Wanted to buy some last week during the Great Meme Stonk War but I didn't get around to it. Since then it's gone from like $1100 to $1600 or something like that. Are we on a crescendo/spike or is it still a good time to buy in?

I've got quite a bit of BTC at this point and it's been serving me well, but I'd like to diversify.

Also wondering if there's a better option to get into than ETH that I don't know about. Mana looks really interesting and I could see it taking off.
 
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Rajaah

Paperhands McGee
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Sell half at the peaks and buy in the dips is the ideal strategy pretty much. If you had pure foreknowledge it would be 100% instead of half obviously but yeah. At least if you only do half and be careful you don't end up hurting yourself too bad on fuckups.

What's a good trading app for selling quickly (aka avoiding a massive delay on bank transfers)? I've got Coinbase and Coinbase Pro, but haven't sold much yet and haven't paid attention to the turnaround time when I did.

I just know that when I sell stocks on apps like Stash, it can take like 6 days for it to show up in my bank account. Makes it hard to "buy low, sell high" in any sort of re-investing way because I'm basically continually buying while my sales sit in the app for a week at a time (meaning I have to keep a lot more in the budget than I actually want to invest).
 

Arden

Blackwing Lair Raider
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102d 14h 56m
Anyone here mess with Webull? Seems similar to Robinhood. They recently enabled crypto trading, but they seem limited in the coin types they have so far. Best part about them is you can trade crypto for free. Assuming they add additional coins in the future, this seems like a good alternative to RH. My one concern is that Webull doesn't allow fractional shares. I'm not sure if this applies to crypto/coins though. Anyone know?
 

pharmakos

soʞɐɯɹɐɥd
<Bronze Donator>
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What's a good trading app for selling quickly (aka avoiding a massive delay on bank transfers)? I've got Coinbase and Coinbase Pro, but haven't sold much yet and haven't paid attention to the turnaround time when I did.

I just know that when I sell stocks on apps like Stash, it can take like 6 days for it to show up in my bank account. Makes it hard to "buy low, sell high" in any sort of re-investing way because I'm basically continually buying while my sales sit in the app for a week at a time (meaning I have to keep a lot more in the budget than I actually want to invest).

Uphold lets me purchase instantly, I thought it was going to let me withdraw instantly too, using my debit card, but I couldn't figure out how to just now....
 

Rajaah

Paperhands McGee
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Uphold lets me purchase instantly, I thought it was going to let me withdraw instantly too, using my debit card, but I couldn't figure out how to just now....

I mean, most of them will let you purchase instantly...it's the getting money back that has turned into an issue.

For example, Stash has owed me $554 for about a week now. It's less of an issue with Robinhood because they'll make the funds available right away to re-invest at least, but you still have to wait if you're cashing out to your bank account.
 

Lambourne

Ahn'Qiraj Raider
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Just want to quote the first post on this thread, from the beginning of 2013.

$17.40 for a Bitcoin.

...........sigh.

Anyway, is Ethereum still a good bet? Seems like it has a much higher ceiling for growth than BTC due to the lower value at this time. Wanted to buy some last week during the Great Meme Stonk War but I didn't get around to it. Since then it's gone from like $1100 to $1600 or something like that. Are we on a crescendo/spike or is it still a good time to buy in?

I've got quite a bit of BTC at this point and it's been serving me well, but I'd like to diversify.

Also wondering if there's a better option to get into than ETH that I don't know about. Mana looks really interesting and I could see it taking off.

ETH is going parabolic atm. Today is the 5th so I pulled up some prices for that day in the last few months.

Aug 5th: €330.61
Sep 5th: €328.88
Oct 5th: €300.75
Nov 5th: €343.69
Dec 5th: €468.04
Jan 5th: €849.00
Feb 5th: €1335.37

I think it's bound to crash but who knows how long this surge lasts. I bought a bunch at €350 last summer and I cashed out in January at €1000 so I'm probably overly cautious (well aware of the clown world where a gain of over 200% in less than a year is cautious). Everyone and their brother is talking about buying crypto again too, I've seen this story before and I know how it ends. Just don't know when.

As for alt coins, The Graph seems to be gaining some traction but not sure I'd go long on it right now because generally all crypto dips when the big movers do. I still hold some BAT too as I think that's an interesting idea and it could spike if Google manages to piss off enough people and people start using Brave more.
 

karma

Lord Nagafen Raider
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164d 13h 58m
Anyone here mess with Webull? Seems similar to Robinhood. They recently enabled crypto trading, but they seem limited in the coin types they have so far. Best part about them is you can trade crypto for free. Assuming they add additional coins in the future, this seems like a good alternative to RH. My one concern is that Webull doesn't allow fractional shares. I'm not sure if this applies to crypto/coins though. Anyone know?
I have a webull account I use for swing trading stocks. Its a small cash account. Stock wise when you close a trade it takes 2-3 days for the money to settle before you can use it again. Some of the traders I know have margin and that isnt a problem for them. 4am 9est) stonk trading is nice, sometimes you can get in or out of a position at a better price on the odd PM price action. Initial deposit takes a few days to go through (5) on mine. I could buy at that time, but if you sell with unsettle funds, you get a good faith violation. I just dont use unsettle funds at all to be safe. So it is kinda annoying waiting for cash to settle. Decent interface, but I dont like it as much as I do ToSwim, but it is decent enough I COULD use it as my only platform if I had to.

No immediate experience with crypto on it yet, but, my experience with it so far.
 
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Tripamang

Ahn'Qiraj Raider
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126d 12h 25m
To cash out the rest of my BAT (on the ethereum network) on an exchange cost me 15$ worth of fees, roughly half the amount I had in the exchange. I'm really surprised the transaction costs have gotten that high as those fees are a real killer. In retrospect I should of exchanged them for another currency on the exchange to move it out but c'est la vie.

Rajaah Rajaah that quote was a terrible reminder that I had roughly 44 million worth of bitcoins in todays dollars :/
 
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Keystone

Golden Knight of the Realm
436
233
13d 20h 28m
If you want to roll the dice can try just about anything but if you’re interested in actual business use case and thinking about holding a crypto longer term. Highly recommend looking into VET. Oh yea this is not investment advice don’t invest more than you can afford to lose etc lol.
 

Alterity

Molten Core Raider
124
99
91d 8h 37m
Just want to quote the first post on this thread, from the beginning of 2013.

$17.40 for a Bitcoin.

...........sigh.

Anyway, is Ethereum still a good bet? Seems like it has a much higher ceiling for growth than BTC due to the lower value at this time. Wanted to buy some last week during the Great Meme Stonk War but I didn't get around to it. Since then it's gone from like $1100 to $1600 or something like that. Are we on a crescendo/spike or is it still a good time to buy in?

I've got quite a bit of BTC at this point and it's been serving me well, but I'd like to diversify.

Also wondering if there's a better option to get into than ETH that I don't know about. Mana looks really interesting and I could see it taking off.
Tell me about it. I have been in Bitcoin since 2011. I used to mine about 2-3 a day and had over 100 at one point. It became way too volatile so I got out after about 2 months of mining and sold all my GPUs I had for it. Left myself 20 Bitcoin in the event it ever took off. I think I sold all those when they were around 70$ a piece because I thought that was the moon then. No diamond hands here. It's a little depressing I had millions of dollars in my hand and let it go, but I've got over it.

I didn't get back into it until about 2017 and have been buying every month or so since and have made decent money still. I am never selling my full stack again until it's life changing at this point though.

I like ETH like I stated earlier in this thread. I mostly only DCA BTC and ETH now. I rarely touch alt coins since it's never worked out for me, so I don't touch them really anymore. NANO is the only alt coin I've purchased recently and that was only 25$ worth. There definitely is money to be made there though but it's tough.
 
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