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Title: How do you deal with transfer times during volatile days? Post by: RaptorRed on November 18, 2013, 06:22:04 PM Most of the advice here says to keep the majority of your BTC in cold storage and keep a little bit in a hot wallet for daytrading. In my experience it takes almost 24 hours to move BTC from cold storage into an exchange like BTC-e (is this common?). But if btc and/or altcoins experience major price fluctuations and you want exchange your btc for altcoins/USD (or vice versa) then the 24 hour turnaround would be detrimental since after 24 hours the price could be drastically different.
So when most of the advice says to keep cold storage, are they really saying keep in cold storage and ignore daily fluctuations because there is literally nothing you can do to quickly adjust to them due to technical limitations? Or is the common "24 hour turnaround" as stated by most exchanges just an outlier estimate and most cold to hot transfer take much less time? Or am I getting conflicting advice from two groups of people: those who hold for long term and don't play daily changes, and those who keep their money in exchanges just so they play the fluctuations? Title: Re: How do you deal with transfer times during volatile days? Post by: crazy_rabbit on November 18, 2013, 06:27:47 PM Unless you have a lot of bitcoin, I'd avoid trying to play these dips. $670 to $610 is not a big enough dip to try and play in my opinion.
Title: Re: How do you deal with transfer times during volatile days? Post by: karlmarxxx on November 18, 2013, 06:28:12 PM It takes about 20-30 min to transfer coins to an exchange. If it takes 24 hours try tipping the miners.
Title: Re: How do you deal with transfer times during volatile days? Post by: Barek on November 18, 2013, 06:40:55 PM Also don't reuse addresses. Some miners delay transactions that reuse them.
But yeah, the fee will make the biggest difference. |