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On the downside a regular business can't price anything in bitcoins because of the deflationary nature of it. They would need to reevaluate the price every several hours.
Well there was something invented in the 1940s that can do that for you, called programmable digital computers, you may have heard of them. I mean if you go to trader joes and want to get some cheap wine for 2.99 what would it be in bitcoin - "0.003746 and even less by the time you get to the counter, unless it's more"? I heard of them 'puters before. There're up to no good. |
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I think bitcoin is more like a precious metal rather than umm... rubles. It's kind of like a limited resource and the price is likely to keep going up (if people keep putting their trust in it). So pricing daily transactions, let alone financial products like mortgages would be extremely difficult.
prolom.
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On the downside a regular business can't price anything in bitcoins because of the deflationary nature of it. They would need to reevaluate the price every several hours.
I believe stable national currencies more or less grow with the economy with some inflation.
I'm not an economist either.
prolom.
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Well, was it directly from a wallet to wallet or from some exchange?
Personally I think it's anonymous as long as you don't attract attention.
prolom.
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That's an easy question : Buy them - don't mine them.
That's the only way to win something without having to try to compete with the big industrial sized guns in the mining battle.
What would you say is the entry level for an industrial sized gun? Not that I can afford it. prolom. |
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How do you calculate the 0.6 profitability decline? It depends on the difficulty, right? And the difficulty is rising at the rate of ... don't ask me, I just post here...
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Don't you think that FSA would be watching at least some transactions? If they can read your gmail they can probably flag some suspicious bitcoin transactions, unless it's, umm..., I don't know how to secure transactions.
I don't think that you personally can identify the source.
prolom.
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you get nothing but fractional numbers that only occasionally cling to psychologial marks=round numbers (the computer programs trading obviously have no issues with that).
I really like the way you write, FalconFly. So concise. prolom. |
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The best advice I can give you with CEX.IO is to get out while you can. Lol
I've lost a lot of money in CEX.IO, its only for trading. No mining profitability whatsoever.
That seems to be the prevailing attitude towards mining over there... It's still cheaper than most mining contracts you can find though! I guess there's such an unreasonably high demand for GH that anything goes... prolom. |
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This is just a sales pitch for some Russian company and Copperlark coins that includes an introduction to cryptocurrencies. BS. |
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started reading up on trading
listen some trading guide at least  shto shto? |
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Thanks, this is actually the page I was reading to try and understand candlestick charts.
It does not mention walls at all though.
prolom.
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As far as that goes, the big price swings happen when you don't expect it... That is kinda the point of working a market that is that volatile. Once everyone is convinced that it will move up, they act accordingly and once it becomes evident, you have the general disposition of the market and you sell instantly, causing a big red candle. Because of the rapid popping of the anticipation bubble, you have the panic seller, pushing the market further down into your waiting hands. Then the majority of the market is anticipating the continuation and...
You get the idea. The big price changes happen instantly because if you placed a non-instant order (one that is visible on the order-book), the market would have a chance to react to the sell-wall or buy-wall.
Actually I barely get the idea - I just started reading up on trading after reading your posts. For one person to create a red candle one would need to sell a significant amount compared to the general volume, correct? Also, those walls (I posted another newbie question about them in another thread) - do several traders/bots put their orders at the same threshold or one trader with a lot of resources creates it? Or both? Thank you. prolom. |
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Are the walls represented as steep declines and inclines on the market depth chart? How do you take them into account when placing a buy or a sell order? For instance if I do want to buy in that price range I would place an order which is a bit in front of the wall? I don't know if my question makes sense because I'm not a trader.
prolom.
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Excellent, thanks so much FalconFly. Very clear. As far as them claiming not to trade their own GHs - https://www.cex.io/guide?start - second paragraph from the top. prolom. |
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I buy in, wait a bit, watch as it starts to sink below my buy-in point, set a sell just over that initial buy-in and WHAM, I make profit. not just on mining, but a small amount on the GH itself. then I pick a downside target by scrolling through the buy orders and take a break, it buys in, and I come back and the show repeats.
Hi player01. So essentially most of the time you are not mining at all, right? Because the spikes are short and the decline is continuous? Oh, and BTW, you've mentioned it before and now I noticed in your sig - why do you think the difficulty is going for a tipping point? prolom. |
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Sorry, a couple of idiot newbie questions: 1. They claim in the FAQ that they don't buy or sell their own GHs, which is opposite of what I originally understood. So whose GHs are being traded? FalconFly has mentioned using his own GHs in their pool - is it just adding them to the pool or trading them as well? 2. Why the majority of transactions are so miniscule? 3. Why the prices in the orders are always in some weird fraction of a BTC, like 0.04002197 or something, not 0.04. How are those numbers generated? 4. How do I actually place an order - I thought I could click on a Sell order and buy it but it seems to bring up some random numbers into the Buy window. Should I manually type the long string of numbers into it? I've read https://www.cex.io/guide?start but I'm still confused - it's hard to even copy the numbers because the orders are constantly shifting in the window. Thanks in advance, prolom. |
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Like others have said, buy BTC, nest it through LTC, XPM, etc, and then close spreads (market making) to get 10% per trade, 1 trade every 2-3 hours (if you're paying attention) then multiply 5% for each nesting level. If you know what you're doing, you can quant trade altcoins short-term and get 30% per day pretty easily.
With $5000 you might incur slippage, especially on heavily divided currencies, so you could diversify and just run 5 $1000 campaigns.
That sounds interesting but could you please clarify it for people like me with no background in trading or at least point us in the right direction? For instance nest, close spreads, quant trade etc - I have no idea what it means. You know - it' s a newbies board. I'm kind of on the same budget. Thanks, prolom. |
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Thanks FalconFly for such a thoughtful and eloquent reply. It makes a lot of sense.
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