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I do not understand how you can incur 240$ of fees when you only have 1000$ of investment. That is already 24% and you just made a couple of trades. Normally, the tx fees on exchanges are below 1% per tx.
You do not need to keep on watching the price. If you have a target price like 3000$ as you said, put a sell order on that price. If the price hits it, your exchange or trading platform will automatically execute it. Even if the price just stayed there in a few seconds, the platform will execute the order. The same can e done with buy orders.
Lastly, do not panic sell. You should have known that before you engaged in trading. Arm yourself with knowledge and you will be fine in trading. But if you keep on trading without even knowing the basics, good luck with your money.
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that is a good looking portfolio. very diversified but too much money on eth. maybe you can lessen it and spread the fund on btc, ltc, xrp. you can also look at nem, it is still low in price and have good potential. i think they are targeting 1$ this year.
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I am more worried with the BTC going up instead of staying put because I'm getting killed by the transaction fees!
It is a good idea now to have a physical wallet rather than an online wallet.
just avoid small transactions for now. maximize your transaction fees by doing large transactions only. you can also transact only when the network is not congested so you can send with lower tx fees. it is still better if the price keeps moving up than stagnating. |
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For those innocent and negative thinkers, I certainly can prove to them like a comparison between their activities doing nothing on their home and comparing also what I've done saving my bitcoin in my online wallet. We can make an agreement just to monitor my investments, and to him/her doing nothing and just wasting the whole day watching movies. So the best thing on this is we gonna check each other's progress on whose going to generate an income? Will I be the one having profit from my invested btc or for them who just did nothing? I guess they've missed it out and the reality happening here is, the profit which I have earned through bitcoin which those people ignored. That's how we prove them the reality how bitcoin works on our lives today and they really needed to absorb the learnings we have.
there is nothing to compare there. basically you want to contest with someone doing nothing vs your investment in bitcoin. of course you will win. he's is not earning anything. if you want a valid comparison, try someone with a good line up of investments. find someone who is actively investing on stocks and compare your profit on the end of the year. |
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I think it's better to invest it, rather than to gamble it. If invested it, it's clear our balance is safer from lost, and can benefit even little by little, obviously it's safer than gamble it, gambling is more at risk.
maybe you are right, but if you make wrong selection in investment gambling site, then you can risk your money while you invested with them. its a good idea to search every thing about the sites so we can feel safe to investing in that site although there are no guarantee that site will be a legit site for a long term. I think it is implied that if you choose to invest you will do the necessary diligence in order to secure a profitable investment. If you do not research and just invest on the first site that pops up, you're throwing away money. That would be no different in throwing away your money on gambling. |
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If the site is 0% house edge then how they sustain in this gambling world. How can they make a profit and how can they run their website. These are basic questions will come in mind if any casino site says they had 0% house edge. After seeing this questions also you think it is 0% house edge then no one will help you in this matter. You cannot find any 0% house edge casino site.
Not if the games are pvp like poker or blackjack. This games does not necessarily need house edge for the casino to profit. But other games that rely purely on luck like dice, plinko and other games, the casino need house edge in order to survive. |
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The author have valid points on usability of bitcoin and that the value fluctuates like dropping 30% in a week.. It's certain, bitcoin is full of uncertainty right now. but if he doesn't want bitcoin because it's garbage to him, he can just throw his garbage in my direction. I'll be happy to pick it up.
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I could see this thread 10 years from now with people saying..."my biggest bitcoin mistake was selling at $2800-$2900." How crazy would that be?
So many people got in at the right time, but then sold at an all time high of like $250, and then $500, and then $1200, instead of holding long...
I did that with ETH. Got in super cheap, still made a good profit, but not nearly what I would have had now obviously...
Everybody can make that mistake and if ever you made that mistake, you can always buy back again. It is never too late to reinvest into bitcoin. The price may be really high right now, but the potential is still higher. The price can be way better, just give it a little bit more time and chance to fix the problem bitcoin have now. Once everything is settled, segwit is activated, we will see better price. |
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Bitcoin is a high risk investment, please always keep that in mind and don't forget that the price can fall %50 in a week and if you sold at that time, sustaining big losses. Like all high risk businesses, invest only the amount of money that you can accept losing.
Bitcoin should be dealt like how you deal with equity. It should be a long term investment. Doing this lessens the risk you are taking while invested in it. Bitcoin becomes very risky if you try to catch all the surges of prices and try to profit from them all. But if you hold for a longer time, the crash will recover and put you on green. And also, you do not risk dumping on lows or buying on tops. |
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Panic time? I don't think we need to panic. The price rise and fall, that's normal, isn't it? It doesn't mean that if the price fell today, it won't rise anymore. Panic will just lead to losses imo that's why I don't have plans of selling my BTC nor exchange it to other coins.
The price is actually slowly creeping back up to where it was. Now the price is at 2500+ again. You are right, panic will just lead to loses. I think those who panicked came back to their senses and now buying back. |
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I do not see it as panic time rather buy the dip time. It is a combination of whales profit taking, newbie shakedown and FUD. If you are not buying bitcoin during this time, it is better just to hodl on your bitcoin. The price will go back up as it always does.
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Different people have different appetite for risk. Some can take more than others. Selling on top also have risk. The price may not retract and you may have to buy back on a higher price. And if some feel safer just hodling does not make them idiots.
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I'd rather be realistic than optimistic, and would brace myself for whatever is going to happen come August 1, and the events to follow after that. Better to look for alternatives while there is still time and manage expectations rather than blindly follow what others are saying.
Right, better have contingency plan rather than blindly believing that everything will be alright. Diversifying your funds and going for some potentially profitable altcoins is a good way to go. Have some funds on bitcoin and some on altcoins and see how bip 148 will roll out. |
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Yeah, well it dropped from 2800 to 2300 just now and it looks like it's going to keep going. I might be wrong no the technical details, but I'm right that the recent investors are panicking.
Maybe you can explain exactly what is happening on August 1 then?
It has always been like that ever since. When the price hits an ATH, a pull back will follow and slowly climb back again to reach a new ATH. It is the profit taking of the whales. And maybe now because of the panic for August 1 bip 148 and the attack on some major exchanges. On August 1 there will be a soft fork (UASF) which can lead to a coin split if miners do not signal segwit. But if miners signal segwit, there will be no split and it will just be a normal day. But the FUD it creates may shake the newbies into dumping their coins. |
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I just hoped by that time all the issues in crypto currency is solved. And if this becomes true by then, bitcoin and altcoin will become a major thing. It may not overcome fiat or become the major payment processor but become a major thing like internet is right now.
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Why do we have to explain bitcoin to children? Does anyone explain to you the fundamentals of money when you were a child? All they need to know and only concern is how to spend it. That is the only thing you need to teach them. If they mature and wanted to learn the fundamentals of bitcoin, they'll learn it on their own.
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Sounds like another Cryptsy going on at the time.
doesn't look like it though! the problem with these exchanges is that they only provide servers powerfuil enough for a certain number of users which they usually get. when there is a fast rise or fast fall like this the traffic grows and obviously they can't handle things anymore. there is also DDoS attacks. and on top of that it is possible they have ran out of funds again because people also buy and withdraw at times like this at the bottom and the exchanges go dry. it is easier to say we are down than to say we cant cover withdrawals. Are they affected by DDOS attacks mentioned here? Major bitcoin exchanges hit by cyberattacks as record rally makes them a target. I think this attack is also one of the cause the price is going down. People are in panic and want to get out. I do not think coinbase can be affected this much by that attack and maybe you are right in your other point, they run dry and preventing withdrawals. |
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best thing we can all do is just stop using bitcoin, sell it all , let the price drop back to $10-$15 and see how the miners with their asics feel with a 12.5 BTC block reward and no way to cover their mining costs. Then once they've all gone bust we can get a functioning system back again - apologies to all those who will lose their shirts during the process though.
I doubt anyone would want the price to drop to that price and start over again. It may not even recover at all if it dropped that low even if it was initiated by users. And what is the assurance the problem won't repeat after your plan? |
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There are still a lot of people supporting bitcoin. I do not think it will give up the crown any time soon. Amidst all the problem surrounding bitcoin, it still reached a new ATH. High transaction fees and slow transactions can disappoint new comers but not enough to kill bitcoin. It will survive, hopefully.
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Somebody posted this, cyber attacks on bitcoin exchanges, on one of the facebook group I am in. This and the whales cashing out their profit could be a reason of the price falling down. The question is, what is the floor of this fall? |
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