The dip is mostly over and prices are recovering now. It can drop below 9000 but I think it will go up.
It's gone down below $9000 a few times but bounced back up within about half an hour to 45 minutes. I think there is a lot of institutional money sitting just below $9000. They want bitcoin to diversify their portfolios, but don't want to overpay, so they've set up buy orders just below $9k to take advantage of flash crashes. |
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Would like recommendation on best exchange to trade on and reason why you believe the exchange is better than others?
It depends on where you are located. If you are in Europe, use Kraken, they have maker/taker fees. They have fixed the bugs that were slowing down their trading engine. They are secure (have never been hacked). Best of all they do fiat withdrawals via SEPA that give you your money within 24 hours and the fee for withdrawal is only 9 cents. |
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Hi everyone,
i've read a lot about the influence that btc's futures can have on btc's price.
Can someone be so kind to help me to understand how? Maybe with a numeric example?
Thank you in advance!
It depends on which futures you mean. The CBOE and CME futures are cash settled in dollars, so don't really affect the underlying market at all (though some people have persuaded themselves that it does). The futures on BitMex are real in that you have to deliver bitcoins if you short the market -they do affect the underlying market, because people need to trade in the underlying market to settle their BitMex futures. |
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The high fees make it very difficult to profit of this.
It's not just the fees that make it difficult. It's hard to move fiat. Fiat doesn't move on the weekends. Then you have some exchanges subject to capital controls (like the Indian exchanges). Then you have local KYC problems (for example the Korean exchanges won't open an account for non-Koreans). If you want to do arbitrage, it's easier with an alt - say the BTC/ETH pair, or the BTC/LTC pair - because you can move both coins fairly quickly (especially as the mempool has cleared). Or choose a pair where both coins move and confirm quickly, like ETH/LTC. |
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22 December 2017 was really a bad day for all right? well, I bought when the price was $17,000, I thought with so much good news we would be in the $25000 or even $30,000... but this fall caught me by surprise, I'm not looking at the losses because if I hold for long term, something like two years. then I will recover and still make a profit. investing in the crypto is need to be very calm and patience. Ouch. This is why you dollar cost average, people. If you buy with a one-off lump sum you can accidentally get the timing wrong. Your options are either to hold and hope it goes to above $17,000, or invest some more at around $10,000, which lowers your total average buying price and means you are in profit at around $13,500. |
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There is a support line at around $9000, but also one around $10,000. Bitcoin seems to be holding above $10,000 and is trading between $10,000 and $12,000.
Part of the reason is that there are a lot of hidden buys set just under $10,000
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I think it depends very much on which coin you are holding. If it is a new pumper-dumper, then it makes sense to sell when you see profits and cut your losses if it drops.
But - if your coin is one of those on poloniex which allow margin trading, you can make money by lending it out. For those coins, lend the coins out, make some more coins while you wait for the coin to recover. A sort of hold/lend strategy.
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Even if you are a hodler you should know when to buy a coin and when not to. You can double or triple holdings for your coins. I am not a pro trader or anything but I am far from a noob and know when to buy and when not to.
You can make 1000% gains 10 times but you only need to go -100% once to lose it all. Don't margin trade if you don't know what you're ding. There is a guy who went from 3 btc to 200 btc to 0 btc. Pls don't be greedy(Its hard in crypto but you can try).
Remember, bulls make money, bears make money, pigs get slaughtered.
The solution to that is not TA - it's risk management. People who go all-in are idiots. There will be some trades you get wrong no matter how good you are. But it's not the end of the world if you practice proper risk management and only stake 1/10th of your stash on each trade. That way, even if you make a mistake, you are still in the game. You'll get rich slowly and steadily. |
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What if you earn btc by mining? You are earning an income but if it just sits in your wallet how do you pay taxes on your earned income? What is the taxable value of btc? Are you suppose to keep track of the btc daily dollar value as you earn it to pay your income tax at the end of the year? If that’s the case I’m going to write off my equipment and my electric bill. Then again if you sell your mining equipment that’s income and you have to pay taxes on that too. I’m merely trying to make sense of all this. Not avoid taxes.
If you are a miner, surely that's a business - so the calculation will be revenue (the coins you mine and sell) less expenses (the cost of buying the miner + electricity). If you are a serious miner then it might be worth doing it as part of a limited company (i.e. incorporate) rather than as an individual. |
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Biggest threat for crypto industry.
Yes. So far the only exchange that hasn't been hacked is Kraken - but people complain when they take their time to do upgrades because they're trying to do it right and are spending most of their time on security rather than usability. The other alternative to spending a lot on security is getting insurance against hacking. So far only Coinbase have done this. |
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I'm not really sure how Facebook could use cryptocurrency. It's a social media platform that people use for free. The only money that changes hands is payment for the adverts - I suppose they could enable bitcoin and other cryptos for that, but other than that, crypto and social media don't really go together. Crypto goes with the banking institutions and with ecommerce merchants.
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This doesn’t really signify anything negative about cryptocurrencies. The fact is that the fees are so high for Bitcoin that it is no longer practical to use it as a payment method, at least for small purchases. Bitcoin has become more of a store of value as the fees have gotten higher and the transaction times slower. I think some altcoins will be more suited for use as a method of payment. There are many altcoins that have low to zero fees and faster transactions. Stripe has announced that it is working on enabling BCH, ETH, LIC and Stellar. So it's dumping bitcoin but not giving up on crypto as a whole. |
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The talk was entitled "The crypto-asset bubble" and featured Cecilia Skingsley, deputy governor of Sweden's central bank; Jennifer Zhu Scott, Radian Partners principal; Neil Rimer, Index Ventures general partner and co-founder; and Robert Shiller, the Nobel Prize-winning economist. The session was moderated by Yang Yanquing, deputy editor-in-chief of Chinese finance media conglomerate Yicai. To view the entire discussion, see the following youtube video: https://www.youtube.com/watch?v=5MZv9fLLfa4(warning it is an hour long). If you don't want to view it, you can read coindesk's summary of it: https://www.coindesk.com/bitcoin-takes-the-stage-at-davos-in-currency-panel-debate/ |
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Give it time - once people get used to the idea of giving out merits, there should be plenty flying around.
The only thing I don't like about it is that it takes you to a new window to give out your merits. I wish they'd do it with a pop-up form that dissapears when you have sent your merit.
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Litecoin is still being used to move money - and when you are moving money from exchange to exchange it helps for the price to stay flat (because you don't really want a price risk). And unlike bitcoin, the number of merchants accepting litecoin is growing: https://litecoin.com/services#merchants |
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Part of the reason the fees were so high is that some of the wallets were overestimating how much you needed to pay to send coins. That created a knock-on effect as others had to send even more to get their transactions verified.
People really need to check the mempool first and set their fee manually rather than simply accepting the fee suggested by their wallet.
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There is a premium in the South Korean exchanges because it's hard to arbitrage.
Normally, if say Bitstamp was trading higher than GDAX, people would sell coins on Bitstamp and buy them on GDAX, and as a result the price dfference would narrow.
It's impossible to do on the Korean exchanges because they don't let westerners join or send fiat to those exchanges.
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I use Kraken. They've fixed their trading engine, so that it is no longer giving 520 errors.
They are safe, and fiat withdrawals using SEPA happen within 24 hours and they only charge 9 cents for the withdrawal. It's hands down the best exchange if you are in Europe.
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if we distribute bitcoin to another altcoin is good at top 20 rank in coinmarket for sure we are less risk. Especially the newbie what they are buying does not know the value of the coin they just make them hyper groups. So Controversial Remember that your bitcoin is very dangerous if you invest in a different coin. Investigate before invest.
Diversification is good, but buying other alts is not diversification! A diversified portfolio is one that doesn't move in syncronisation (the idea is that you don't lose everything because everything moved down at the same time). Alts tend to move with bitcoin, so they arn't ideal for diversification. If you want to diversify, sell some coins and put money in land, or gold or bonds. |
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