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.

Hi thanks for your response.


Yes i meant sending coins to blockchain temporarily.  Then download electron cash.  Put the 12 word phrase on electron cash... claim bitcoin cash.  But after this step, should i immediately sell it on bittrex for bitcoin or usd or another coin?  Then once i do that, i have btc or usd or another coin on bittrex.  Then i create a new electrum address where it has a new 12 word phrase.  Then i send the btc from blockchain to that address.  Then i send the btc from bittrex to the new electrum address.  If i do it this way, is it 100 percent safe since i no longer would be using the old electrum with the 12 word phrase?


By the way where are you located from that you use bittrex?  And do you use bittrex a lot such as daytrading?  Or you only use it very little such as claiming your bitcoin cash and probably just buy and sell very little?  I have not used bittrex yet but i did create an account.

Well let say you bought a lot of bitconnect earlier on when it was 1 dollar or something like that.  If someone has a lot of bitconnect now, wouldn't the smart thing be just cash it all out for profit now?  Or someone cannot do this at the moment?  I know ponzi is a scam but if someone owned bitconnnect right now, could they sell it all and make their profits?

Can someone here tell me if they do or not?  Want to make sure of this before i do trading.

I use electrum.  When and how can we claim our bitcoin gold?

I heard bitcoin sending fees are very high now.  Is this true or not?  Back then it was either 0 if you don't put any fees or it was like 6 cents etc.  Then it got up to 25 cents and i recalled few times i last send it was 2 dollars or a bit more etc.


Can someone tell me what are the fees?

Do you all think there are certain altcoins that are good for trading and some that are good for holding only?  For example, imagine a coin that is around 5 dollars.  But it keeps going from 2 to 7 dollars only.  It rarely goes less and almost never goes higher than that.  It basically goes up during highs and dips during lows.  Wouldn't those coins be great to daytrade if it keeps going back and forth like between 2 and 7 dollars etc?

How many people here bought bitcoin when it was low price and then sold it off when it got in the hundreds?  Would those people be more upset now than those that didn't buy at all?  The other thing is what are the odds that if you bought the bitcoin back then, you would still have those bitcoin in an exchange or computer without issues like that mount gox or anything else?


Because it seems like unless you bought bitcoin and held everything... which i dont think most ppl would have done?  For example say you bought 1000 btc for like 1 dollar each or something like that.  Or 100 btc for 10 dollars each.  If you saw btc go up to 100 dollars... do you think most users would cash out?  Because for the first person, it would be 1 million dollars.  I think most would keep looking to see if it keeps trending up or down right before they do that? 

What would the safest way to do this on the same computer?  First send all the btc to a different electrum wallet address?  And by that, i mean a new address where it has a new 12 word phrase etc? Then send all the btc there?  Then download eletroncash, put the old electrum 12 word phrase there... then claim the bitcoin cash.  Then sell it on bittrex for bitcoin or usd or any other coin... and then use the new electrum address from here on out and make sure to write that new 12 word phrase down?


The other thing i thought would be sending all the btc to blockchain and then just creating a new electrum address with a new 12 word phrase after claiming the bitcoin cash.  Thoughts on this?


Also how much are the fees to send btc now?  I recalled back then it was very cheap, then it cost a few dollars... is it a lot more now?

Hi there thanks for the response.  Do you have any plans to buy anymore bitcoin cash or not?

Also im curious but for your electrum wallet where you use bitcoin, do you use the same address for all your transactions?  Or do you only use one once and then use another etc?


And has anyone here besides tryninja did this on the same computer?  Because i do not have another computer and i do want to claim my bitcoin cash but haven't done so.

To those of you who sold your bitcoin cash, what did you sold it for?  BTC?  USD?  Or some other altcoin?

Hi there.  Well im not going to lock the computer in a safe somewhere as i use my computer all the time

Well the thing is i do not know how to do the encryption thing unless there is a video or steps that show it step by step exactly.  Are there videos of that? 


Well if i were to do this, how long would it take to encrypt the drive with bitlocker?  Also i never backed up my windows os to an external hard drive even though i have an external hard drive.  I do not know how to do this.  What forum would you suggest for me to do this?  I use windows.  But yes the main reason im concerned is if someone has access to my computer and then check my electrum wallet etc.  The thing is i do have a program called axcrypt that i use to lock certain documents so if anyone got access to my computer, they can't view those documents.  I was suggested to do this if i have documents i want private. 

Hi there.  But when you did sold it and the price went down to the 200s, you were pretty happy right?  But when you notice it went up to 2k.. .but its back to around 1k now, does that upset you because you sold it at the 600s?

Do you think those people who sold their bitcoin cash when it first came out and sold it for between 300-700 dollars or so are happy about it or not?  Because people kept mentioning sell it now because its going to be below 100 etc.

Anyone here?

Hi there so just to make sure of this, once you did this, you got bch on your electron cash.  You then sent that bch to bittrex.  Did you then delete electron cash from your computer or you still have it there?  Did you sold all your bch for usd or something else on bittrex?


So basically you did every step as the steps mentioned except you did all this on the same computer etc?  How many other people have done this?  I would have thought you would at least moved from bitcoin to another address on electrum before you downloaded electron cash on your computer.

Hi there yes that is the name of the program i heard about bitlocker.  When you say you need solid backups to restore... what do you mean exactly?  You mean if you don't have the pre boot password?  Or you mean if something else and like what?  So as long as you remember the password like you do with say keepass, then you are fine?  And is doing something like this very hard to do or easy for someone not tech savy?  Would i need to have a backup copy if i make sure i do not forgot my password?  And where do you store these backups?  On your external hard drive etc?


Well im concerned if someone has access to my computer.  Then find out i have bitcoin in my electrum etc.  Then downloads malware on it.  I know what you mean with the thing you mention but my concern now is if someone got access to my computer. 

Is it possible for any coin that is under 1 dollar to hit 100 anymore?  Or is this just not possible?  Im talking about a coin like say edgeless. 

Does anyone here think coins under 5 dollars is pretty much the only way to be a millionaire assuming you don't have that much capital etc?

Well look at all those coins that went up earlier on.  Why can't waves do it?  Is it because all those top 25 coins when they all went up, their marketcap is very low etc?  And waves is not?  The thing is almost all the coin marketcap seem to be high already.  Even coins that are under 1 dollar.