Hi,
Basically instead of only waiting for big dips to buy and highs to sell, I am talking about selling at regular high and buy it when it dips $100 lower for example many times a day.
Say you have 10 BTC, this should give you $1000 minus the fees no? So doing it many times through the day you might add a new BTC to your wealth?
Is this reasonable or is there something I am missing?
Thanks in advance.
You are missing the unpredictability of the market. What if you buy and it suddenly drops? What if you sell and it keeps climbing? People do this professionally. High risk, high reward. |
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what you mean by 21 mil.
Generally Bitcoin depend on Simple law of demand and supply + some good /bad news may effect
Bitcoin has a limit of 21 million coins in circulation. Although this limit will not be reached for another 100 years at current mining rates, it's an exponential curve, meaning we have already mined over 80% of those 21 million. |
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Bitcoin seems to be on the rise lately. I'm wondering what might be the best way to maximise profits. Any suggestions?
It was good to buy when it dropped at 5900$ So what? Shouldn't invest in bitcoin anymore? It was better to buy that time. But now the price is still rising. There are many people think that they have lost the opportunity and it is late. Those who have invested earlier in this market have made higher profits. But now is still good time to buy bitcoin even for long term and even in short term as the current price rise has started recently after the correction Correct. With every ATH, it means that if you bought at any of the last 10/20/50 ATHs, you still made a profit. If you are buying and holding long term (years) the price you buy at the moment matters much less than if you are trying to day trade. |
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It's simple supply and demand. If demand for bitcoin continues to grow, while the supply is limited, price will increase.
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I want to hodl until the day we don't have to change back to fiat, where I can buy everything I want directly with crypto.
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Yes, BCH was pumped and dumped, and yes, a lot of people fell prey to it and lost a lot of money. I wouldn't be happy about it though - a lot of these were regular people who invested their hard earned money, only to be scammed. It's sad for the whole community.
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What to do now, sell or keep hodling?
There seems to be a lot of resistance at $8000, only time will tell if we bounce off it or break through. I will continue to hodl because I do not need money in the short term, but your situation may be different. |
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On GDAX currently there is about 300 BTC between now ($7967) and $8000, and another 300 BTC wall at $8000. Will be interesting to see if they hold or crumble.
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I see more and more merchants accepting Bitcoin but I feel many are missing the point. I, along with the vast majority of you, hate spending my Bitcoin. The only reason I would spend Bitcoin is if I can get a 20%+ discount on an item or service that I would be purchasing anyway. This also assumes I can immediately purchase more BTC to cover what I spent. I have done this before for purchases on Purse, then buying the BTC right back on Coinbase. The headache alone is hardly worth it. So merchants! It's great that you accept BTC but give us a compelling reason to spend it at your establishment, otherwise we really don't care.
I get your point of not wanting to spend your BTC, I used to do that and now I completely regret it. However, it's a good thing that more merchants and webstores are accepting Bitcoin as a payment method, it's boosting its usage and becoming more widespread around merchants and internet users. Many people see Bitcoin as investment/asset, similar to gold, which is completely understandable, so do I. The more we use bitcoins, the more widely bitcoins will be accepted, and the faster bitcoin will grow. I do exactly this - purchase with bitcoins if possible, and then buy back the same amount in fiat. The difference in price between just buying in fiat is usually negligible, and I know that I am helping to spread bitcoin. |
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I would personally like to see a service that could ask you if you're still alive ~once a month. If you confirm this before the next month, nothing will happen. If you don't, then your wallet keys and instructions to claim your bitcoins would be sent out to your family and children so that they would be able to have them passed down to them.
There are online services that will do this via email - the danger of course being that you will be entering instructions on how to access your bitcoins to a unknown entity online. Ways round this would be to write directions to a physical document hidden somewhere in your house, or, much more securely, leaving instructions with a lawyer/solicitor to hand to your family after death. |
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You are both correct. /r/bitcoin is an echo chamber for core, /r/btc is an echo chamber for cash. Neither allow dissenting views. It is impossible to have a frank and open discussion on either side. That's why this forum is better IMO.
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33 Satoshis/byte is quite a low fee. You can look here https://bitcoinfees.earn.com/ to see that the estimated time for that transaction is up to 15 hours (correct at time of posting). You can also look here https://core.jochen-hoenicke.de/queue/#2d to see the number of currently unconfirmed transactions at different fees, which will give you an idea of when yours might be processed. |
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If any of us knew the answer to that question, we would be millionaires.
As mentioned, all these coins are too big and established already to make huge gains. Yes, they make increase a bit, but if you are looking for crazy gains then it's a gamble on a new token.
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Postcode one is too difficult.
The other ones you can at least work out with a bit of time if you don't know the answer. The postcode one has nothing particularly special or identifiable in it - I don't recognise it and I have no way of working it out.
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Brand new account with no proof of anything. This is a scam.
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No proof of funds, no proof of payment, brand new account making first post.
I'll pass.
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Coinbase fees are one of the worst. You can transfer from Coinbase to GDAX for free, and then from GDAX elsewhere also for free.
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You can only gain a maximum of 14 activity every 2 weeks, regardless of your post count.
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Mining BTC is now once again more than twice as profitable as mining BCH. The miners are switching back and BCH will dump to nothing again.
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Mining BTC is once again over twice as profitable as BCH. The pump is over, the dump is ongoing, BTC will recover and BCH will crash.
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