Hi, everyone. let's assume I have $100 I can afford to lose, what can I trade more profitable, bitcoin or ethereum and other relatively stable altcoins? as I understand I need to pay big transaction fees every time I trade bitcoin, am I rigth?
Stable coins are bitcoin and ethereum, it is the most recommended coin for trading of a beginner like you. Stay away from shit coins if you dont want a headache  Even if you don't get too much profit because their value is already at high stage, still i'm confident that my trading is safe with bitcoin and ethereum. I second staying away from altcoins when you are a complete beginner in trading. The worst thing you can do is buy a bunch of an altcoin without doing proper research. At least with Bitcoin and Ethereum people know they are legit and backed by big corporations. |
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Greetings!
While trading sometimes I drop back from my original plan. Such emotional decisions often bring loss cuz I tend to change orders on panic or when I mistakenly expect more potential income. How do you deal with that if you feel the same way?
We should contol our emotions otherwise they will control us, when you are in panic or in hurry then you take a small break and patient to re-analyze what you are going to do and if it worth, maybe ask someone else what he/they think about your next move. great explanation mate,if we think were lossing our emotion we should have back up plan in which resting.taking some break outside drink some cold beverages and analyze whats happening ,that way you can manage your emotion and minimize your lossing..after a break maybe you can think of stopping or be back tomorrow for another game People even having good planning and strategies about trading and investment, but still they find it difficult to have control over their emotions. In fact it is in human nature that they cannot do control over their emotions but still good experience can help you a little in controlling your emotions. How many times do you want to repeat "controlling your emotions"? Do you think it will make it any less clear that you are just writing nonsense to boost your post count? This is ridiculous. More than half of the posts on this forum make literally zero sense whatsoever and moderators do nothing to stop it. |
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I am planning to use bittrex to trade altcoins. I would first get bitcoin first as i need btc to buy altcoins.
So i have a question on this and want to know if im doing it right.
Let say I have $10000 in btc.
Btc = 7837.34 usd now
1.28 btc = 10000 usd
I send that 1.28 btc to bittrex. Lets just make it simple and say i want to buy lisk and its worth $5. I know its much more than that now but i like to make it simple. Let say i want to buy 1000 lisk so $5000 plus fees. I know bittrex fees are 0.25%. So that means buying 1000 lisk would cost me $5000 + $12.50 = $5012.50. This is correct right? So basically now my bittrex btc balance is around half which is 0.64 btc? To make it simple i ignored the sending btc fee to bittrex.
So let say my goal is to sell it once i make 20 percent profit. Thus i want to sell it once lisk hits 6 dollars. Say lisk hits 6 dollars. I then sell all of it for $6000 - $15 = $5985. So in this situation I made $5985 - $5012.50 = $972.50. Is that correct or not?
So once I sell the lisk on bittrex, I'm getting back btc right since lisk is paired with btc and most altcoins are not paired with usd or usdt as they put it? So here is what confuses me. At that moment i will get paid whatever amount btc = $5985 right? However... isn't it a good chance that i might not get more than 0.64 btc that i originally used to buy lisk assuming btc price went up as well? Like for example at that moment i bought lisk with my btc... $5012.50 is about 0.64 btc at that moment. But now... when i trade $5985 worth of lisk for btc... couldn't i get even less than 0.64 btc? Thus even though i made a profit of $972.50 in my example buying lisk and then selling lisk... i might get back 0.60 btc only and now my btc balance is only 0.64 btc +0.60 btc = 1.24 btc? Or is there something wrong with what im calculating here? I do know when you are investing in altcoins, you are basically betting against bitcoin. But here in my example, well you need btc in order to buy altcoins almost all the time since theres maybe 10 coins that are paired against usd or usdt?
And if my calculation is wrong, can someone tell me where is my calculation wrong?
Because i believe the profit i calculated is right here. And if it is right, how do i make sure to lock in these profits? I know you realized $972.50 in profit here. But say you dont sell the $972.50 worth of btc now... and wait... well btc price drops... that $972.50 profit could only be $800 or less etc right? Or is my logic wrong here? I want to know from daytraders on this as i know daytraders mostly buy low and sell high and make lot of these transactions. Thus if your goal for lisk is 20 percent profit of 5000 dollars invested and your goal is to make about 1000 dollars on buying lisk minus the buy/sell fees of 27.50 for a total profit of $972.50... are you suppose to immediately send that exact profit $972.50 worth of btc OR WOULD IT BE THE BTC DIFFERENCE between the 1.28 btc you started with and what you have now... and then send it immediately to gdax or gemini and sell it to them and then you lock that $972.50 in profit immediately to your bank account?
The thing is if everything was paired with USD, then it would be very easy to calculate/profits and losses. I know bittrex has usdt but that is only paired with btc and not many other coins. So the other thing is would daytraders instead of sending it to gdax or gemini... they immediately turn that btc into USDT? That way their profits are locked since you have usdt? I know usdt is around 1 dollar but it cannot be a little less or more. But i read its still an altcoin. So i want to know exactly how daytraders lock in their profit after they lock in their profit from one coin. And most importantly, is it even possible to have a lesser btc balance after buying lisk at 5 dollars and selling it at 6 dollars depending on the btc price. Because this is very confusing to me.
I can tell you right off the bat that you made a serious calculation error in saying that once you buy LISK, your account will only be worth 64% or whatever. This makes literally no sense. I think you misplaced the decimal in the fee structure by 1 or 2 zeroes. Bittrex fee is 0.25% not 2.5% or 25%. Fees are hardly relevant in daytrading cryptocurrencies because the swings are so high to begin with that they are rather negligible. If you can't even beat the fees then chances are you shouldn't be trying to day trade crypto to begin with. |
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I also would be interested on different taxes on bitcoin profits.
But the thing you described should be impossible. It does not matter where you withdraw your profits to.
You have to pay taxes in that country, where you lived at the moment you sold your GNT (so made the profit)
Correct, taxes are supposed to be paid on the place you live, unless you create a corporation in another country and the profits belong to that company so if you want to pay taxes in a country with lower taxes you will need to move out, that is why many people do not bother to do all of that since the profits they could get are not that great to make that big change in their lives. Bingo. Jeff just posted about this issue @ https://www.youtube.com/watch?v=aM-Mmxm0OEQ&feature=em-uploademailLike he and me are saying comes down to point 5 in the end. Like I've said, all the work and risks by registrering your corporation in a foreign country for the very tiny time being is just plain dumb, especially when you are a EU citizen trying to escape taxes to another EU country. You cannot win in the same system... that's the point. Since the inception of the EU, sovereign nation states were already transferring power to the EU and it's still going on, brexit or not and eventually, every EU country will have the same laws. It's certainly no coincidence that one law in the USA is also at the same time being passed in the EU and Australia, got my drift? You want to win? You move out completely overseas with the most corrupt or small government or suffer like the rest, because there will be a time when the barbarians are kept lose on those that do have something vs those that don't own anything and that's by design (i.e. socialism, the never ending wars on anything (wages, gender, race, income, etc.)). Why do you think muggers and thugs are always operating in their own neighborhood and never go to the richer places and nothing is done about it. The western world is already socialized/domesticated, at least you can own and use guns in the US, because if you own one here in the Netherlands and use it for your defense, you go to jail, even when you defend your life and this has happened and was widely reported on the msm. Criminals always win in this system. "Criminals always win in this system" Nope. I get what you are saying, but criminals never win in the end. Everything we do in life comes back around, unless you ask forgiveness and are forgiven. Someone who sends their money offshore to avoid taxes... they will not win in the end. It is just how it works. |
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This is a risky way of investing IMO, unless you are willing to hold your coins for the long term (years), and if you are happy to do that I suggest that you pick coins that you have done your research on and actually offer something to the community. I would instead recommend majoritively holding your coins in BTC keep an eye out for upcoming positive press releases and buy into coins that are due to move in the next week or so. It will minimise your risk and help to generate good returns.
Isn't the point of investing to hold your coins for years? lmao, this is obvious. Why would you say that he/she shouldn't do this? The last thing you want to do when holding lots of coins or an investment in crypto is try day trading when you don't know what you are doing. |
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Just received reminder bitcoin dropped a lot, the price of the last week is very unstable, leading to other competing currencies continued to fall, there is no bottom line of that kind of fall, I would like to ask you tycoons on how to look at the future market?
Eversince it started bitcoins price is like a roller coaster and we must have courage to take the ride even without the knowing the possibilty to to succeed.,but this time it seems that it was very clear that everyone already succeed with their investments, more investors profit well.It is the currency that made someones life wealthy and were hoping for the best and everyone can achieve it. Bitcoin didn't just make "someone's" life wealthy, it made a lottt of people wealthy, like, hundreds or thousands. And then there are those who did not invest initially in Bitcoin, but instead started businesses and profited in that way. Some Bitcoin buisiness make so much money... you would not even believe it. |
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In addition to reducing unemployment bitcoin can also be an alternative to find additional money for those who already work
yeah,you are right but im not working yet.im a fulltime mommy and im thankful to have a job like this.it will be a big help To me ad i earn.more power to us especially bitcoin. Bitcoin can reduce the unemployment, but not to the full extent. Youths can take it as part of their work not as a full time. Investment is also a question if someone does not have money to buy bitcoin that is also a question, so they will have to borrow money from others then by cryptocurrency activities can make money so that they can give back the money. Its not fully necessary to borrow money into someone or other people just to make investment or to buy bitcoin since we can able to earn bitcoin with some task or jobs specially on this forum and as a student or people who dont have the capability to put some capital to start on. Bitcoin do reduce unemployment but only for those people who are knowledgeable with tech or recent news about on the things on online world. If borrowing money entails paying interest then I would suggest this is never a route you should take. Instead, as you say, work really hard to make aas much money - or save as much money, I should say - as you can and this way you can use your own money to invest without risking to lose everything you own when you cannot pay back your loan. On the flipside, there is something called Angel investing where people with lots of capital give loans to up and coming businesses with potential in hopes they will become the next big thing, perse. If you want to read more about and/or invest in a blockchain-based Angel Investors company, click my signature right now to check them out. |
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According to different Statistics the Future of this virtual currency is so much brighter than others currency and people will find very easy to deal with every thing through bitcoin. some Reasons are really very fruitful for economical development such as
1.In future buying bitcoin is more easier than past condition ad people can complete so many task very easily.
2.most of company use bitcoin as a local currency that helps to regulate bitcoin like regular currency and more company will interest for using this currency(bitcoin)
3.international client are more visible if this currency will use globally.
4.in future if government use the protocol then cyrpto-currency will protected and people feel safe for using this currency.
Well as the statistics said "virtual currency" and it doesn't mean that it will be bitcoin. No one can say directly if how will bitcoin end up, will it be successful on replacing the current fiat currency or will another "virtual currency" that government created dominate the crypto world. For let us just be grateful that bitcoin is on it's current place wherein it is being hailed as the most strongest crypto currency and the price keeps on going up from time to time. Everyone is gambling their investment on it because anytime governemtn might ban crypto currency while will result to a zero in value. If indeed another coin were to overtake and surpass Bitcoin as you say could happen, it would be quite devastating to this forum don't you think? Lots of people would stop coming in here and go to another forum for whichever coin is better or worth a higher value than BTC. Hope this doesn't happen anytime soon. *fingers crossed* |
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Just like in bitcoin, if the supply is lesser it's more valuable. And if the Central Banks are keep on printing dollars or any of their currency, they will be burned by the inflation. There is also strict regulations about printing dollars, you just can't do it as you desired.  For some reason your comment made me realize how messed up fiat is in that in many ways it is the same as Bitcoin, how over time, people lose fiat, it gets destroyed, and you would think the value would therefore increase, but for some reason it does the opposite, which does not make any sense whatsoever aside from the fact that they print more and more every day. |
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Basically there are no one who know about what will happen in the future include the bitcoin's price in the future, we just can make analysis fundamental of the bitcoin, in my personal analysis based on the good news and analysis fundamental of bitcoin from another users, bitcoin's price will be hit around $10.000/ BTC because many bugs fixing on the bitcoin's network, many new digital coins exchangers be built, they will makes transaction of bitcoin more be easy and other great news of the bitcoin. So it is up trend for long. What analysis did you do to come up with that $10,000 figure exactly? Some people are saying it will go above $20,000 so I am curious why you think that the peak will be $10,000 and what calculations you did to reach that conclusion. In my opinion, I think a crash is coming soon anyways because a market can only rise exponentially for so long before it runs out of buying power and ultimately crashes. |
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Hi,
My answer may be quite surprising but I would say: don’t be greedy. You can make profit with bitcoin, but as in poker, it is better to take your time and make “sure” movements.
Maybe, at some point, you will thing “I should have bought right before” or “I should have sold after”, but you can ensure steady profits through the forecast of long-term trend. Nothing can be assured but if you bet small and steady, I think it is your best chance to increase your profits!
Otherwise, casinos and other gambling websites can be interesting (their margin is generally around 1%) so you really have a chance to duplicate your btc!
Indeed, being greedy is one sure way to make sure you lose everything. The most important thing is long-term thinking to ensure that your investments are safe and secure and you will not lose them fast or get scammed which are huge concerns in the crypto community right now and also very unfortunate. By the way casinos have much higher than a 1% advantage. That is only if you play perfectly, but most people do not and therefore they have a much higher edge than that. |
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The impact of cryptocurrency is huge. The vast majority of the world still uses fiat money, or paper money, whatever you want to call it. And it's still the world's reserve currency even though gold is better at storing value for long periods of time. But we're forced to use paper money because it's the only option and the value of the USD has been extremely devalued since the 1920s so it's time to invest my value into BTC.
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The real reason to hold gold and BTC is because of the qualities they possess to allow poeple to store value for the long term. This is what you want out of sound money and gold has been good at that, but not perfect. BTC is perfect for holding and storing wealth because it cannot be changed or tampered with. This is the beauty of the Bitcoin blockchain that it is immutable.
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I wouldn't say 99% but I do firmly believe that there is still a vast majority of our population that does think FIAT money is better than Bitcoin. Not because they know that it's better but because they think it's better. They use these stupid sayings like if I can't feel it in my hand it's not money, or FIAT has always been around and it's backed by gold. Oh boy, their day will come.
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Bitcoin already is an international currency and that is one of it's great features. However, it is not the most important feature. It's most important feature is it's immutability. What I mean by this, is the Bitcoin blockchain has never been tampered with and it has in fact remained a censorship-resistant network that has been able to fend off any attack that has been thrown at it thus far.
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If you have coins mined please save them. It is rare that anyone gets coins from mining bitcoin these days so it is best to hold them. If you sell them now you will be kicking yourself in two years time when the price is $20,000+. BTC is always meant to be held longterm, you can sell it if it's an altcoin but you do not want to be selling BTC right now or anytime in the near future.
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If Bitcoin was centralized it wouldn't be where it was today. All the previous forms of money were centralized and this is what lead to it's downfall. If it can be tampered in any way by a group of people or a group of private organizations, then it can not be the world's reserve currency as it is not sound money. Gold is the closest thing, but we mine more and more of that every year.
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Neither! Especially if you are just new to the space. You should just spend your time learning how to buy and hold Bitcoin and this will do you well in the short term and the long term. If you have a family or are thinking of starting one you should definitely just get into BTC as that is what has the real long term value all these other altcoins and forkcoins are garbage.
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I got that same question today, why would you want to invest in mining hardware? Who told you this, or where did you come across this? I am so confused by the amount of people that think it's profitable to get into mining. Okay yes it was in 2009-2011 when one could mine via their laptop CPU but now there are huge mining farms all over the world so there is no point.
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