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Old 13-11-17, 23:10   #1
KL1NCUNT
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Default Crypto Investing

Anyone on BA invests in Cryptocurrencies? Such as bitcoin, bitcoin cash, etherum, monero etc.?

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Old 14-11-17, 14:36   #2
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I thought about it. The primary reason being that I used to trade on current events/ politics. The exchange that I used to trade on (Intrade) was brought down the CFTC. You can read about it here:

https://en.wikipedia.org/wiki/Intrade

So I liked the idea of trading in cryptocurrencies - not necessarily investing in them. Ultimately, I decided that they were too volatile and wasn't really convinced of their intrinsic value. It seemed a little bit like the tulip mania to me. However, prices have gone up tremendously since when I first looked at them and they obviously meet some need. As governments start regulating them more I wonder whether prices will continue to climb. Personally I think investing in certain stocks, particularly mineral stocks, might be a better bet in the long term.
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Old 14-11-17, 18:10   #3
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Same as above, was not completely convinced.
My initial idea was to invest 1000$ which would have been worth around 50 times more at current prices.
Now it's too late for bitcoin and I am not interested in others.
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Old 14-11-17, 23:18   #4
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That is not true at all guys...

Please take a closer look.

Bitcoin constantly falls down and then goes back up. Bitcoin a week ago was around 7600 $

then 2 days ago Bitcoin dropped to 5500 $, now he is already back to 6600 $. This happened because Bitcoin Cash, another crypto coin, a big rival of Bitcoin, Bitcoin Cash jumped from 600 $ do 2400 $ in couple of hours, this caused many people to invest in Bitcoin Cash, and them Bitcoin dropped from 7500 $ to around 5500 $.

This is happening every now and then, but you need to follow the scene and market, this is why I opened the thread to see if anyone is live trading.

So in this particular situation, people bough Bitcoin instantly when it dropped to 5500 the other day, and now they are already 1000 $ in plus, if they bought 1 whole BTC for an example.

Meanwhile people who invested in Bitcoin cash 3 days ago when it moved from 700 $ to 2400 $ in 24 hours, quadrupeled or more, their investments.

Of course Bitcoin Cash now fell back down from 2400 $ to around 1200 1300 $, but when you consider it was 700 $ few days ago, it's still incedible, at the people who followed it live got it from 700 to 2400 made huge profit and then sold it instantly, then it went back down.

Anyway, I won't bother anymore, but this is really interesting and I just wanted to know if someone live trades, there's a lot of thing happening in the scene and this is for people who are 24/7 near the pc or internet, they can make huge money if they follow the scene and subforums.

It was a known fact that Bitcoin Cash will go up because Roger Ver invested millions in it that same day, and it was known that real Bitcoin will drop hard from 7k, which it did, and of course now it's coming back and people who bought it when ti dropped instantly now are just waiting and making money.

It's really easy, follow the scene > buy on dips and drops > sell on highs

I have noticed a lot social outcasts making thousands in crypto scene, people without jobs and education, geeks, they just follow the trades whole day and live invest/trade.
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Old 15-11-17, 13:29   #5
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Very interesting subject, it will be nice if someone could post some short guide and links about buying and trading with Bitcoin and others. I don't think it's possible to buy cripto with paypal or skrill like buying items on ebay, it is little complicated. Also, about mining and how to do it, is it worth? I read that etherum is actual at this moment and some graphics cards is impossible to buy (mining process).
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Old 15-11-17, 13:50   #6
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good friend of mine invested few years ago about 5k $ in hardware for mining, and now wants to kill himself, because he made about 1,5 bitcoins.
he thought about it like IT guy (which he is) and not like a businessman/trader.
how much profit he could make if he bought bitcoins for those 5000$. i don't know exactly price when he started mining, i think it was 1BC=300$ (more or less).
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Old 15-11-17, 14:13   #7
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Few years ago it was way less than 300$.

@op
I believe we were talking about investing, rather than just day trading (it's in the name of the topic also).
I don't think day trading BTC is much different than doing it with Forex, sports odds or whatever and I don't find it interesting since I don't live on my computer 24/7.
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Old 15-11-17, 21:33   #8
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Quote:
Originally Posted by petomavar View Post
Very interesting subject, it will be nice if someone could post some short guide and links about buying and trading with Bitcoin and others. I don't think it's possible to buy cripto with paypal or skrill like buying items on ebay, it is little complicated.
You buy and trade bitcoin and many other cryptos on trading websites such as GDAX, Bitstamp, Coinbase, Kraken and many more...

But before you choose your trading website, make sure to investigate A LOT and in detail about your choice before you buy anything. Because many famous websites and most popular ones are not the best, not in terms of security but in terms of SPEED and that is CRUCIAL in crpyto trading/investing.

The other day when Bitcoin fell from 7600 $ to 5500 $ some people wanted to buy Bitcoin instantly when it dropped for more than 2k $, but they weren't able to do that fast because those trading websites were filled with traffic and they had a lot of problems with blocks, mining etc. it's a long story, but to make it short. Majority of people on those websites were not able to be fast enough to buy bitcoin while it was that low because it jumped back to 7000 just in 48 hours or so. So it is crucial to pick a PERFECT trading website, that's the most important part in my opinion for live trading, this can make you so much more money, just this simple fact of speed.

Go to Reddit and 4chan, r/bitcoin or r crypto currencies/beginners, or on 4chan /biz (business & crypto) subforums, and ask or read there about trading websites and user experiences. Other users will help you and explain to you, based on your location, which trading website would be the best, most secure and most importantly FASTEST for you and your location/payments method.

You can read more about it here. Everything is explained here, almost.

https://www.reddit.com/r/Bitcoin/com...s_please_read/

It's possible on some shitty trading websites to buy even via Skrill, but those have high fees and they are not as trustable or fast, it's best to buy on secure trading websites via bank transfer because that's how you will get your money in the future once you earn in trading cryptos.

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Also, about mining and how to do it, is it worth? I read that etherum is actual at this moment and some graphics cards is impossible to buy (mining process).
Bitcoin is not possible to mine anymore on your own, only huge companies with millions worth of elite PC hardware and many devices now mine.

As for mining other currencies, the best thing to mine now is Monero. That is crypto that is being used in darkweb/darknet for a lot for drug buys and other illegal transactions, he is on the rise since the beginning of the year because of this, many people are using it for those things on TOR in darkweb. Same thing was with Bitcoin, Bitcoin first started as the main currency on darkweb, same thing, he was used to buy drugs and illegal transactions, then it became mainstream and the rest is history...

And you can mine Monero if you have your website or blog, you install Monero mining bot that uses Javascript which 99 % of people have turned on, on their devices PC or phone, then when you install Monero Javascript mining bot on your website or blog, everyone that is on your website is actually mining Monero for you and you earn Monero over time, depending how popular and how much traffic your website/blog have.

This is currently EXTREMELY popular and some huge websites like UFC were caugh with installed Monero mining bot on their website, it was a big scandal. And many other big portals and news from USA did the same and are doing the same as we speak right now.

The Pirate Bay also, famous torrent website, installed Monero mining bot on their website and they cover their expenses that way, much more profitable than ads.

The only problem is, mining bots are not something that users know about or they agree with, they simply are being used by it when they visit a website, that's why those scandals about famous companies and news websites that used this, finished in news. But only those that got detected of course.

I recommend lurking on 4chan /biz to see which cryptos and coins are currently getting new technologies and which coins are getting more investors in them. I must say that 70 % of the time that people post there, those coins actually do rise in the future and you can literally earn money if you buy those coins, then when they raise in price you sell them FAST, that's how those geeks there do it and some of them are very rich by now, considering they were jobless before all of this.
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Old 15-11-17, 21:38   #9
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Quote:
Originally Posted by Dimitri View Post
since I don't live on my computer 24/7.
You can do it via Smartphone as well. Everyone is near their phone 24/7 in 2018 basically.
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Old 15-11-17, 23:37   #10
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Don't be so literal man.
I meant I was not interested in that and most people have other things to do and focus on, the fact that their phone might be near them all the time doesn't mean they are able/willing to use it all the time.
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Old 16-11-17, 00:00   #11
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Originally Posted by Dimitri View Post
Don't be so literal man.
I meant I was not interested in that and most people have other things to do and focus on, the fact that their phone might be near them all the time doesn't mean they are able/willing to use it all the time.
Of course, for live trading and fast buy/sell of altcoins, you need a lot of time and preferably to be jobless so you can focus on that day and night, understandable.

But please explain to me your posts from earlier above. "Now it's too late for Bitcoin", where do you come up with that?

I tried to explain it above but you didn't read probalby, look again here:

- this is the current Bitcoin price, right now as I'm typing this / $7306.50 (10.24%)

proof:


https://coinmarketcap.com/currencies/bitcoin/



I just said that Bitcoin went from 7600 $ 3-4 days ago, to 5500 $ in couple of hours. Now what exactly is too late for you in this particular situation?

If you were online at that moment when it dropped to 5500$ and bought 1.0 BTC, for 5500 $ then (you don't have to buy 1 whole BTC, you can buy less of course) that day when it dropped 5500$, right now you could sell it if you want and you would have 2100 $ profit in 3 days,for doing absolutely nothing but buying a dip/drop (when Bitcoin drops, it's the term). Please tell me how long does it take to earn this money from betting? A lot longer for sure.

So I don't understand your "it's too late", yes it's too late for your example where you wanted to invest 1000$ when it was couple of dollars per 1.0 BTC, yes it's too late to become a multi millionaire, that is true, but too late to earn big and nice money? You are absolutely wrong my friend and I just gave you the most simplified REAL example that happened 3-4 days ago.
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Old 16-11-17, 00:17   #12
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You keep talking about that short dip as it was a normal price.
You keep talking about trading and I keep talking about long term investments. I can't explain this more clearly, these are two very different things.
Normal price of BTC is around 7k now and it is too late to invest in it and make significant profits. Or as we say in betting, the value is gone.

And to answer your question, earning 2100 on a 5500 bet means hitting odds of 1.38, shouldn't take more than those 3 days to find such a bet.

Let this be my last post here, we clearly don't understand each other and I don't want to rain on your parade.

GL
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Old 16-11-17, 00:24   #13
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Quote:
Originally Posted by Dimitri View Post
You keep talking about that short dip as it was a normal price.

Normal price of BTC is around 7k now and it is too late to invest in it and make significant profits. Or as we say in betting, the value is gone.
That's the point, it wasn't. And this happens every now and then, Bitcoin drops down, you buy and you sell it because you know 99 % that it will go back up. That's all I'm saying.

It's not my parade, just trying to let people know there's a market to earn money, I have nothing to gain from recommending crypto trading to anyone, no refferals, no money for sponsoring it or whatever, so yeah, you got that wrong.

But alright, fair enough.
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Old 16-11-17, 19:16   #14
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KL1NCUNT, I think some of the discussion you've had with Dimitri stems from the fact that you talked about "investing in" but then went on to describe daily trading in... Investing in something for me also is more of a long-term thing.

But let's not get hung up on the language.

Your post encouraged me to research cryptocurrencies once more and I found that there are some indications that countries like Zimbabwe, Venezuela, etc. may even end up adopting cryptocurrencies. In the case of Zimbabwe, the need is clear. The dollar has become their de facto currency but since there are few bills in the local economy that has driven the demand for Bitcoins...

Ultimately, I don't trust paper money and central banks creating money out of nothing. It's just a question of time before we will see the next financial crash and at some point government debt is going to become unsustainable. The easiest way to wipe off the debt will then be inflation and people will look for alternatives. Personally, I am more inclined to believe that the alternative in that scenario will be gold or gold-backed assets.

While the decentralized aspect of the cryptocurrencies makes it appealing in places where people have no confidence in banks, my biggest problems are:

The price fluctuation scares people from using it as a legitimate currency.

There are several new types of Bitcoin such as Bitcoin Classic and Bitcoin Gold each offering a new solution to a technical problem such as scaling. Without these problems being fixed, it's difficult to envisage Bitcoin becoming a real fiat currency. Ultimately, money is based on trust and in Bitcoin you're trusting the blockchain and technology behind it. As things stand, there still are all kinds of technical hitches.

There may be a future for the blockchain but not for any of the cryptocurrencies we currently know - the market is still evolving...

Tomorrow, somebody could come up with a better fix to some existing problems and with sufficient marketing this would become the new standard in the cryptocurrency market. Whoever holds one of the current cryptocurrencies will be left with a useless bunch of bits and bytes just like the folks of old that held old paper bills after a currency reform...

So yes, right now cryptocurrencies might be good to trade, maybe even for a longer period of time. But to invest in as in a house in Upmarket Street or a solid stock - hell no...

Last edited by WiserthantheCrowd; 16-11-17 at 19:19.
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Old 16-11-17, 22:02   #15
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Normal price of BTC is around 7k now and it is too late to invest in it and make significant profits. Or as we say in betting, the value is gone.
GL
Yep, I said the same a few years ago when Bitcoin raised huge and was @200+.. :-)
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Old 16-11-17, 22:55   #16
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Yep, I said the same a few years ago when Bitcoin raised huge and was @200+.. :-)
So you think it will reach 250 000?
That would be the equivalent to 200 --> 7000 raise.

If so, then I'm wrong and the value is not gone.
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