Never say never, 30 days left.
+1 Every bubble reached an ATH in approx 30 days. But then again I don't see a ramp up yet.
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$10m a coin ... should be sufficient
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I wonder how many of this 13.5m are not accessible and will be in future reclaimed by lost wallet hunters.
I don't think it' possible for a lost wallet hunter to reclaim anything until quantum computers are invented, if they ever are. It's probably impossible with todays technology. They have already been made. They just need to fine-tune it so they can get enough qubits to solve big problems.
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My tip for new traders: short bitcoin! +1 Short or go long depends on what the trend is .
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Another Tip. When entering a trade never do a market order. Always put in a pending order and wait for it to get filled. You will always feel you are missing the boat but this is normal. Leave it for an hour or so and re-evaluate. A market order is dangerous. Let's say you open a market order; it is not uncommon for it to get filled with very small orders. This can increase your entry price by quite a lot making it a longer wait for profit. ( edit: someone already posted this one )
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People should be able to simply buy or sell all their holding by posting a msg on the thread with buy or sell. A bot could keep track of participants balances and post shortly after with a summary for the person. It could post a scoreboard on here too.
well, I never wrote a bot, but I know some programming. Will take a look at. Doesn't sound too complicated. We still have one month, so maybe we can get it working If someone else has more experience with bots, please, do it I am pretty busy but it would be a fun project for you dnalor! the problem is I can't find an API... Without API I'm not able to code it. Use Metatrader against btc-e and program en Expert Analyzer. That's how I do it You even have a tester so you can test your bot on historical data.
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As stated by Montell Jordan "This is how we do it"
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Where are we going to the moon ? Plz explain.
Depends if the breakout is down or up. I would expect M00N
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...Would you spend $300 to mine a coin worth substantially less than $300? Sure mining depends on market cap.
In a balanced PoW system mining is a break-even game, it doesn't matter if 1 BTC is woth 300$ or 10k. If you are, as Bitcoin user, satisfied with the quality of control over transactions, you don't need to mine Bitcoins. ... Still not sure what you're trying to say. Maybe if you could start by answering my question: "Would you spend $300 to mine a coin worth substantially less than $300?" Mining is the only truly anonymous way to get Bitcoin so some people (who buy illegal shit) would be prepared to pay more to mine coins.
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LOL This feels like a traditional bitcoin cycle at the moment.
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Oh look. A big dump half a hour ago. Someone saw the price slowly going up again and totally freaked out that his coins were becoming worth more so he quickly dumped them and made sure the uptrend would be stopped.
There's no stopping the uptrend, just slowing it down. Some people think that could actually be good for Bitcoin. Actually it's stopping the uptrend every single time. But every time there is an uptrend
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OP it is never a good time to buy. You're either too early or too late. But even if the price dips to $250 it will go sky high eventually unless you think Bitcoin is doomed. The real question is "Do you believe in Bitcoin?" Buying now is a good time in my opinion. Why? 1. If you look at the charts it keeps pushing upwards. 2. We have had an insane long bear market. 3. Volume and volatility. 4. Adoption of Bitcoin (going mainstream). 5. ETFs are coming. Hope this helps
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sorry to troll the wall thread with this but let's put this to bed. he said "2300 > soon" This is an (albeit inelegant) way of saying that soon the price will be less than 2300. The phrasing is weird I agree, however it is correct (the logic, not the prediction, I actually don't think we'll go much lower than right now). You seem to disagree with his using > instead of <. If he had said 2300 < soon then.....ahhh I give up, I think I'm being trolled As stated by Albert Einstein "You can't measure a fish by it's ability to climb a tree." "2300" and "soon" are not comparable.
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Before you can spend money you need to have money. OP is implying that everyone who spends money on those products doesn't buy more bitcoin with fiat. Having money circulate (spent,earned) is the prime directive of every economy. The auction means that some dude/dudette is blowing a lot of fiat on bitcoin. I don't think that person will buy to dump. It didn't happen on the last auction. Why are people always afraid of everything happening.... someone took a shit Bitcoin is going to dump... someone coughed let's sell all our coins.... FFffuuuu
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The market is chaotic and manipulated by big whales. How do i predict that so it's not all luck? no matter how much TA i read i always have the feel im just gambling.
The difference between gambling and trading is distinct. For both you don't know what the outcome will be. With gambling you win or lose. With trading you win some or you lose some. What's the difference. If you win 40% of the time with gambling you will always lose. If you win 40% of the time with trading you can make a profit if you enter and exit at the right time. Added bonus for trading is that the market is formed by people or bots which are both predictable by nature. He whom can predict their behaviour can use it to benefit themselves.
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1. Do not invest more than you can afford to lose
Don't invest more into fiat than you can afford to lose Don't invest more into fiat than you can afford to lose FTFY
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Nice article and thank you for taking the time to write it down.
However based on my Bitcoin trading I have a problem with points 4 and 5. I am merely stating my view on your points based on personal experience. I am a novice trader but have been trading cryptocurrencies for quite some time.
Do not set stop losses too low In Bitcoin stop-losses are very dangerous. Reason for this is the high-volatility. Set them too close and you get a guarantee that it gets stopped-out at a loss every time. Set them too low and you still run the reason to get caught by a dump but losing a shitload of money in the process. Yes having a stop-loss is generally a good idea in trading but with the pump and dumps in Bitcoin it will kill your account. Big dumps are nearly always followed by a near equal pump (and vica versa) so waiting before getting out can save you a lot of money. Instead of a stop-loss monitor your account vigorously.
Close unprofitable & leveraged positions within 24 hours Stopping your posisiton within 24hours assumes high risk day trading. I would not advise this type of trading for beginners. If you begin with trading, trade on the day charts and not the 1 or 5 minute charts. Bitcoin has easy to follow long-term trends. For example a stochastic RSI combined with trading based on the long term trend (EMA) is a good and easy way to trade. There are more easy to follow methods like Bolinger Bands and MACD. Day trading (especially with a leveraged account) is not easy and mostly unsuccesful in the long term.
Leveraged accounts Using leverage is not advised for beginner traders. You run the risk of getting squeezed and losing it all before you know what is happening.
Points I would recommend adding are
Risk/Money MANAGEMENT When starting a trade you calculate your position based on what you are allowed to loose. Make sure you can lose no more than 2% on a single trade and have enough margin left so you don't get liquidated.
Take profits High volatility can cause insane pumps. Having a take profit 10% to 20% above the current price is a good thing to have since you can catch these insane pumps before the dump happens. You can raise these levels when the price goes up.
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If one would crack Bitcoin they would be stupid to drive the price to zero. You don't kill the goose that lays golden eggs. Who says Bitcoin can't change it's proof of work algorithm?
BTC is destroying the traditional central/statist banking model and poised to begin the same process of disintermediation for stock exchanges. Central banking and financial markets are two geese which lay very large golden eggs for some very powerful status quo powers that be. They have an overwhelming interest in killing BTC before it kills their ability to collect rent. If you are long Litecoin or otherwise short BTC, driving the price to zero would make you a fortune. If BTC changes its PoW algorithm, it's not longer BTC because the ASIC-based infrastructure currently securing its blockchain would be useless. Yes I was implying individuals but I can see governments killing Bitcoin so we can still live in fairytale land However cracking Bitcoin would also crack their security You are implying a fixed relationship between LTC and BTC. This might not always be true. Yes shorting would make you a fortune but milking BTC would make you more since you can sell stolen coins and resteal them. Why is BTC no longer BTC if the PoW changes? Why are ASICs securing the blockchain? Anyone running the Bitcoin client can process transactions you don't specifically need an ASIC. Before and after all coins are minted people will fight over either the blocks or the transaction fees no matter which PoW scheme is used. If everyone would stop using their ASICs the difficulty would go down and people could process transactions with their GPU or even CPU.
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Why is it assumed we need to implement fully decentralized smart platforms in the Bitcoin system?
Because Bitcoin is the one & only trusted ledger. If it isn't built within Bitcoin then you sacrifice trust. Blockstream said it best : Can't be evil Bitcoin & friends don't operate on trust, they use proof of work. Have you even read the whitepaper? And Bitcoin is far from being "the one & only trusted ledger." Litecoin, Peercoin, and Primecoin have been doing very well for a couple of years, TYVM. Why would you only trust only one form of proof of work? If a SHA256 or ECDSA exploit is found, BTC goes to zero. Platforms are value neutral. TCP/IP is being used for evil as MS/Google/Apple/Facebook aid and abet the creation of databases that would make Stalin and Honecker blush with embarrassment and shame. 1. If both SHA256 and ECDSA are cracked then you still can't crack cold wallets with no outbound transactions. 2. If one would crack Bitcoin they would be stupid to drive the price to zero. You don't kill the goose that lays golden eggs. 3. Who says Bitcoin can't change it's proof of work algorithm?
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