What is wrong with this guy? posting useless stories nobody cares
Please get a life. and BTC is doomed
How is life in your parents basement sitting in front of your laptop in your underwear? Do you have nothing better to do than come on bitcointalk.org to ridicule people who support bitcoin? I do believe this is the purpose of bitcointalk.org and I believe most everyone else in this thread will concur. It appears you need to look in a mirror to see who really needs to get a life. Go to https://99bitcoins.com/bitcoinobituaries/ and list all the doom and gloom you like. Maybe someone will listen there. |
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Yeah, I saw this on Monday when a person posted that link on tradingview.com. We will get things done a little at a time via soft forks in my opinion. Core has a hard time coming to a consensus with multiple things. It's probably best to find what can be agreed upon and implemented one at a time via soft forks to avoid confrontations that can stir up emotions and create division in the community. |
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Also, when I said I'm officially 52/48 in BTC/ETH, that was only on BitFinex. I also have and trade Bitcoin on Coinbase and BTC-e. I don't keep all of my eggs in one basket in case one of the exchanges I trade on get hacked. So, I was 52%/48% into it for trading purposes to make gains and not for any thoughts of it being a legitimate player in crypto. Not enough time has passed to convince me of that.
Well, fair enough. Seems like you and I are engaging in some similar practices of distributing some of our funds in various exchanges, and sometimes also we are keeping track of distributions of coins in various regards. Personally, I have found it quite a learning experience and handful for me just to keep track of my various BTC holdings and potential arbitrage opportunities therein and risk management therein, and I had dabbled a little bit with some other coins, but really I found that I was not really personally ready (nor my BTC portfolio) for adding other coins to the complexity of my BTC holdings - and even in light of my other fiat based financial investments. It's definitely the way to go [Multiple exchanges]. After Mt. Gox and Stamp getting hacked, it's better to be safe than pissed!  The only reason I get involved with other coins is to accumulate BTC. I have yet to find another crypto I can find confidence in for the long term. So, most of my trades with those alts are with BTC. I occasionally sell an alt coin for USD and then buy back into BTC with USD. However, it is rare going that route with the fees is more profitable than just selling the alt coin for BTC. I'll attempt to give a very summary anecdote to illustrate this point. I started buying BTC in November 2013, and I bought all the way down, and throughout 2014 and most of 2015, whenever I sold any BTC I replaced them within about 24 hours because I considered that my BTC portfolio was not in a selling position (mostly because it was overall in the red through most of that time). Since BTC prices remained so low through most of 2015 (mostly in the $200s), I was able to sufficiently acquire an adequate number of BTC throughout that part of 2015 in order to begin to trade in October 2015. I accomplished this "beginning to trade" position by conceptualizing my BTC portfolio more or less into three divisions: 1) those BTC acquired under $280; 2) those BTC acquired under $380 and 3) total BTC holdings. Anyhow, initially, I authorized BTC trading only in terms of the first conceptualization, but as BTC prices rose, I was able to increase my authorizations because my average cost per BTC went down and I was slowly able to increase personal BTC trading authorizations.
I found myself doing the same thing back in April through May of 2015 with the LTC pump and dump. I bought LTC several times on the way up and had to keep up with how many LTC and at what amount to make sure I did not do more harm than good in future trades on the way up. At least that's the way I approached it while accumulating LTC during the pump. Once we started having consolidation (small dumps) on the way up, I stopped keeping up with it. The volume was so heavy and it was so easy to sell the amount you wanted to when needed that I would just sell all my LTC when a small dump would occur and buy back in on the dip when it would begin heading back up. Pump and dumps with alt coins have to be handled differently from what you were doing with only BTC/USD trading during the bearish trend we had in all of 2014 and most of 2015. I had that same thing in mind [To keep up with quantity and at what price] in the beginning when I bought in at 0.0065'ish to 0.012'ish on LTC/BTC. As time passed and I began to see the consolidation moves during our climb up, I made the decision to dump everything on those consolidation dumps and buy back in with all the BTC I accumulated after selling the top before the consolidation dump. They were 100 to 200 pip moves each time it seemed like. It was glorious! I had a total of 46 bitcoin at the time. I used 36 of that 46 bitcoin to accumulate BTC during the LTC pump and dump we had last year. Most may not have been willing to risk that much of their BTC bank roll. However, I saw what was coming and was determined to capitalize from it without risking everything. ETH is NOT a pump and dump like LTC was last year at the LTC block halving. I do believe a form of pump and dump trading will commence with ETH but mainly because of DAO's dumping to gain FIAT for capital in FIAT to conduct business. Those are the dips I intend to jump in and sell on or near the top of waves. |
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I sold my 2,300 ETH (approximately 64 BTC worth at 0.0268xx to 0.0275xx + trading fees when purchased on BitFinex) earlier today when I saw it coming back down. I sold it a tad higher than what I bought it for and managed to only lose 0.2 BTC because of fees.
Since I am new to this thread, I remain a bit uncertain the extent to which Fakhoury tolerates it deviating from its main emphasis, but it appears from the content of your post that each of us are fairly bullish about bitcoin and are not attempting to distract from that perspective in terms of talking about the interplay of other coins (and coin de-jure seems to be ETH... hahahahahaha) Yes, I'm VERY bullish on BTC. I'm all about accumulating BTC by whatever means possible. The main way I accumulate BTC is via other coins. I used to accumulate BTC via mining. I had enough capital to pay for my electricity out of pocket all through 2015 and first quarter of 2016. My plan was to continue accumulating BTC via mining without selling any of it to pay for power. I wanted to hold on to it to sell for higher returns at a later date. I also saw this as a means of insuring I met ROI on the rigs I purchased. Most of those who mine have always paid their power as they go for lack of capital. They would dump what they needed to dump on the exchanges to pay for power with FIAT from month to month. I saw that as a losing proposition. Especially, with $0.102 (10.2 cents) per kWh here in Alabama. I only have 6 x S7's remaining. I'm still paying power out of pocket and holding onto the BTC mined. I determined, even while mining, it is important to stay on top of trading BTC. A serious miner should not neglect moving their coins in and out with the market for optimal gains. Personally, I think that whenever we are trading any coins, whether BTC or otherwise, we need to include the calculation of the fee whether we take a position and concerning at what point we exit a position. Whether you make money or lose money on each trade or overall, those are fairly personal calculations and risks, when going in and out of BTC, whether doing so through fiat or alts.
Totally agree. My wife is witness to how much I use my calculator on my iPhone to factor in fees for my trades. That's one thing I love about BTC-e... One can see how much they will spend in fees with their trade without using a calculator. I'm not sure if BitFinex has that feature. I have yet to see it. I've been on BitFinex since January this year. I do like the ability to trade large amounts on Bitfinex at less a fee than BTC-e. The larger the trade on BitFinex, the less in fees you are charged. And, yep, I agree that sometimes it is better just to exit a position at a bit of a loss, rather than continue the risk.. likely gets a bit easier to establish these kinds of trading strategies with more and more experience.
Exactly, it's VERY important to keep our losses minimal and our gains LARGE. Yes, it does get easier over time. I laugh looking back at myself when I first started trading. I would lose often because of getting caught up in emotions and watching what was going on in the present instead of pulling back and looking at the overall picture of what may play out over a longer term. I was more caught up in the 5m, 15m and 30m chart and was ignorant of what the 1h, 4h, 1d and 1w could tell me. I was constantly in and out of trades out of fear and losing little by little mainly for the fees.  That's when I found tradingview.com and signed up. The people on their are very helpful. I learned from them and another guy at http://theinnercircletrader.com/Tutorials.htm. I got the link to inner circle trader from a generous person on tradingview.com. I still have MUCH to learn!!! I believe trading is a field we never stop learning. |
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Thank you very much for posting your opinions. I'm sure others appreciate it as well.
Sorry we got off topic a bit, Fakhoury.
I will respond to your posts properly over the next couple of hours, JayJuanGee.
First, I want to make sure you do NOT purchase ETH right now. There is valuable information you can get on tradingview.com about most anything involving trading.
I told you I'm a noob in regards to ETH and DAO's. I've heard [On trading view] DAO's will begin deciding in 2 days what investments/business they will get into, hire contractors for that business endeavor and the contractors will begin to sell ETH for FIAT to fund their business endeavor. This means we may see a substantial drop in ETH price the next couple of days. That's when I would consider an entry point.
I just wanted to make sure I did not lead you astray into purchasing now.
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Here is a sample page of a tradingview.com member I "follow" for trading ideas. I have 147 people I follow. Thousands of professional traders around the world use tradingview.com.  |
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Very good analogy, never thought about it that way.
Thank you! Thumbs up! |
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I am thinking of a coinbase account where I could exchange between ETH and BTC easily, if I could just figure out the timing aspect.
I found out the hard way in order to trade any crypto and/or currency pairs, you MUST be "on call" 24 hours a day! What I mean by that is the following: You MUST set alarms for whatever crypto or currency pairs you trade. Your alarms will be set for points NEAR entry or NEAR exit. Your alarm can sound at anytime, even while sleeping. When sleeping is the worst but I deal with it. Features I like on BitFinex are the ability to make the following orders: Limit order, Market order, Stop order, Trailing Stop order and Fill or Kill order. This takes alarms out to a certain extent but I still like to create alarms as a precaution. I also like the ability to "HIDE" your order so it does not appear on the order book for all to see and make decisions that could affect your position since you have "exposed" your position. Especially, if your position is a large order. I've also found tradingview.com to be a valuable tool when making decisions for trades. There is a wealth of information on tradingview.com. I love the chat box to talk to serious traders about trading. You can "follow" traders with high ratings from other members, look at their charts they publish for all to see with ideas explaining their position on the charts, etc... If you choose to sign up at tradingview.com, my username is ProwdClown. |
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Or try something like okcoin, bitfinex, kraken, that give you the option to use Leverage your stash 3x-10x
To be honest. I'm scared as hell of leverage. I've never used it. Totally ignorant of it. EDIT: I don't like the sound of owing someone money if I mess up. Lol good plan. I have only tried it a few times. Each time it freaked me out when a small movement happened and I pulled out. All in all I think my profits stand at .01 from margin trading  Cool. That kind of eases my concern about my own ignorance with leverage. I just don't think I can handle the stress. Dealing with pump and dump schemes is stressful enough by themselves without leverage. There was all kind of shorting going on during our climb up with LTC last year at its halving. I was one of those shorting it on the way up. I remember dumping EVERYTHING several times and getting back in on the dip as we climbed upwards. When it began dumping hard, it looked like a potential short again at first in the beginning of the dump. I had approximately 120 BTC when I dumped with it. Bought back in on the dip and it dumped hard again, then again. I was getting burned and losing BTC. That's when I said, "enough... it's over." Sure enough the climb upwards was over and settled with 110 BTC. I don't feel I would be as level headed with leverage. I would probably be too cautious as well and get out too soon or get in too late. I tell people all the time who play poker, "You cannot play the way you NEED to play in a cash game if you are not COMFORTABLE with the amount you have sat at the table with. If you are not comfortable with losing $1,000, you have no business buying in for that much cause you will be too protective of your stack and less likely to bluff when you need to in order to take down a pot, etc..." One cannot play poker the way it should be played if they are fearful of losing what they bought in with. It's best to be comfortable with what you bought in with before one can be comfortable with playing poker the way it should be played. I believe the same applies to trading. |
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Or try something like okcoin, bitfinex, kraken, that give you the option to use Leverage your stash 3x-10x
To be honest. I'm scared as hell of leverage. I've never used it. Totally ignorant of it. EDIT: I don't like the sound of owing someone money if I mess up. |
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WOW. CK/Kano Pool is chewing the blockchain a new ass the last couple of days. SweeeeeeeeeeT |
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I don't claim to know a whole hell-of-a lot about ETH; however, from what i have been reading in the past several months (mostly since about the January's pump and continuing), there seems to be a lot of ETH fluff and not a whole hell-of-a lot of substance. Sure there are a lot of great ideas within the ETH space, but that does not mean that it is anywhere near to as valuable as BTC.. and one problem is ETH's various centralization areas (contributing to the pump, and soon thereafter dump), and another problem is that in the whole scheme of things, ETH seems to be very dependent upon the ongoing success of BTC.. riding on the coattails of BTC... yeah right sure, I will concede that there seems to be quite a bit of reverse price correlation between BTC and ETH, yet I would still conclude that it seems very risky to allocate any more than 10% of your BTC related investment into ETH (I personally have not put anything into ETH, but I can understand that others may think differently from me, and therefore I can reasonably understand someone who considers ETH pump potential etc and may decide to invest up to 10% of total BTC related holdings into ETH as a kind of hedge).
Sorry Fakhoury - I certainly don't want to go too far down the ETH rabbit hole - even though a lot of us in the BTC space likely recognize that there is a certain extreme level of hype currently surrounding ETH ideas that may in various ways distract from BTC fundamentals and the much more solid value that BTC has over ETH (mainly the decentralized and immutable components of BTC are something that ETH has not even come close to achieving)..
I sold my 2,300 ETH (approximately 64 BTC worth at 0.0268xx to 0.0275xx + trading fees when purchased on BitFinex) earlier today when I saw it coming back down. I sold it a tad higher than what I bought it for and managed to only lose 0.2 BTC because of fees. Also, when I said I'm officially 52/48 in BTC/ETH, that was only on BitFinex. I also have and trade Bitcoin on Coinbase and BTC-e. I don't keep all of my eggs in one basket in case one of the exchanges I trade on get hacked. So, I was 52%/48% into it for trading purposes to make gains and not for any thoughts of it being a legitimate player in crypto. Not enough time has passed to convince me of that. Also, when I said 52%/48%, that was not percentage of what I have available to invest. That was only what I had on BitFinex. I initially had 130.2 Bitcoin on BitFinex. I purchased ETH [Only with funds on BitFinex] at prices ranging from 0.0268xx to 0.0277xx for a total of 64.2 BTC worth that included fees. That left me 66 BTC on BitFinex. I have approximately the same amount on Coinbase and half that amount on BTC-e. The reason I have half that amount on BTC-e is because it's harder to sell larger amounts on BTC-e than it is on BitFinex and CoinBase. 100 BTC is chump change on BitFinex but considered a damn wall on BTC-e. If we were to consider all of my holdings in various places, I'm 40% crypto (All BTC at the moment; I did have some ETH for approximately 10 hours), 8% silver, 15% gold and the rest in FIAT. I don't trade any stocks but I probably should. Wish I had bought stock in Amazon this time last year for instance. You might consider my investment of 40% of my available funds in crypto as ludicrous. I'm not sure. I know some people think I'm crazy. However, I'm CRAZY about bitcoin. I even mine bitcoin. I used to mine it rather seriously for a home miner. I have 400A service at my house. I had 41 x S7's in my house at one time. Now, I only have 6 x S7's. I sold the rest on eBay the second week of March at approximately $820 each on average not including eBay and PayPal fees. The buyers paid for shipping. I absolutely LOVE Bitcoin. I always will as long as it's alive and kicking. I'm all in [so to speak] with everything bitcoin stands for! It's part of my being. My wife is witness to that. She cannot keep me quiet about it around friends and family. lol I'm like you as far as the creators and investors of ETH being the ones who are propping it up to get it primed for a pump and dump. I'm all about pump and dumps. I turned 36 BTC into 110 BTC on the pump and dump scheme we had with LTC between April and June of 2015. If that's what they are really up to with this coin to make some relatively quick money, so be it. I'm going to try to capitalize from it from beginning to end just as I did with LTC. I totally agree with you about the centralization of ETH and decentralization of BTC. BTC still rules in my play book and nothing else comes close yet. ETH has a lot to prove to convince me it can be a real player in crypto. In the meantime, I'm going to do all I can to create gains via trading ETH/BTC and ETH/USD. It's that simple. I personally believe it offers an excellent opportunity to make some extra BTC. I have a friend I chat with all the time on tradingview.com who already doubled the amount of BTC he put into ETH a couple of weeks ago and is buying another new car this week. I told him I'm not messing with it at the time. I wish NOW I had listened to him. I could of had approximately 194 BTC on BitFinex right now instead of 130 if I had invested half of my BTC on BitFinex a couple of weeks ago instead of delaying until today. The main purpose of my posting the article here was to get opinions about whether or not ETH can be a real player in crypto. I'm a noob when it comes to ETH, DAO's and how it all works down to itty bitty details. Thanks for sharing and not holding back your opinion and thanks for not cursing me out for sharing the article to gain opinions. Much appreciated! As I told a previous member of the forum, Fakhoury, asked for my thoughts about ETH and DAO's in a PM a couple of days ago; if I thought it was a threat to BTC, etc... I shared what little I knew about ETH at the time. I ran across this article today on tradingview.com and decided I would share it with him. After further consideration, I decided to share it with the entire forum. Not to defame bitcoin or prop up ETH. It was simply to get insight from others who might know more. I purchased it solely with the intent to make gains in trading. Not because I believe it's a serious player in crypto. It will take several years to convince me of that. I can see where others might misconstrue my statement about 52/48 BTC/ETH into thinking I believe ETH is a serious player in crypto. However, I assure you, that's NOT the case at all. I was saying that in terms of "trading" not "confidence" towards ETH. I by no means am confident about the near future of ETH as I am about BTC. However, I am confident about the opportunity to make some extra BTC by trading ETH. Kind regards, David |
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Are you really posting that FUD article here? Dude, I was NOT posting it to defame BTC in any shape or form. NOT in the least! I was not posting it to prop up ETH either. It was only posted to see what others opinions were on the damn thing. That's it... ETH is new to me as well. Simply wanted opinions and that's all. If Fakhoury wants it down, I'll take it down. It's that simple. He (Fakhoury) asked me my opinion of it in a PM the other day. I gave him my opinion of what little I knew about it at the time. THEN, this article came out today and I thought I would share it with him and others in this thread. David |
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I think that this is more like a Coinbase corporate opinion piece than his own opinion.
It's possible... But then again, the points made are quite legitimate. |
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I'm all about bitcoin. So, do NOT take this post the wrong way. I just thought observers of this thread might find this article interesting
<snip>
Thanks for that. Found it very interesting. Crypto is a multiverse and will constantly evolve - anyone that gets pissed because something does not say 'BTC rules' is being myopic IMO. There is always more to learn and more room to grow. Embrace change or be overcome by it. If BTC can't do that, it's really failing at it's mission, given it's lofty objectives. I would have to agree with you. I'm keeping an open mind [As always] to crypto of any sort. I've had my doubts in the recent past about ETH. However, now I'm beginning to see a bit of promise with it. I have officially gone 52%/48% with BTC and ETH. EDIT: I have been very biased of other crypto's than bitcoin in the past. ETH is the only one I have seen [As of late] with potential other than BTC. My only concern that could potentially put a halt on it is how the SEC in the U.S. responds to DAO's (securities). |
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I am new by here. Started CKpool today with 5 S7. Moving here from p2pool..
Welcome to the crew! |
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SweeeeeeeeT Keep'em coming M8's |
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