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1  Economy / Exchanges / Re: I bought 0.0011 BTC but only received 0.00053 BTC! on: June 05, 2021, 09:40:17 AM
I always buy bitcoin with Perfect Money USD from exchangers with low fees but this time I wanted to try a new method which is buying bitcoin directly with my local currency and receive it directly in my BTC address. I didn't know the local platform charges me the whole Binance fee. They had to enlighten their buyers more about their purchase process.
I planned to buy some bitcoin for my mother to bring some profit for her but now I have to wait for long to just recover the losses. I hope BTC rises as soon as possible so that I could return her money at least with zero loss!
Next time, I only buy BTC with USD from the exchangers with low fees (like what I had always done).
2  Bitcoin / Bitcoin Discussion / Re: The fall from 65k to $30k was the best thing to ever happen to Bitcoin on: June 04, 2021, 06:20:31 PM
Do you think bitcoin will ever recover and return to $65K or even above? How many of you believe that the current bearish trend is temporary and the bullish run towards $100K will start sooner rather than later?
3  Economy / Exchanges / Re: I bought 0.0011 BTC but only received 0.00053 BTC! on: June 04, 2021, 06:14:32 PM
I had heard about high Binance fees but I didn't expect it to be this high! Thanks for your answer!
So, I will lose money rather than making profit!

I used a local platform in my country which is only well-known here.
4  Economy / Exchanges / I bought 0.0011 BTC but only received 0.00053 BTC! on: June 04, 2021, 05:59:22 PM
Hi everyone,
Recently, I bought 0.0011 BTC from a platform and payed for it. A few hours later, I received 0.00053 BTC. Now, after 48 hours, my balance is still 0.00053 BTC. I wrote a support ticket and they told me they have sent the BTC from Binance with the fee of 0.00057 BTC and this fee is deducted from the 0.0011 BTC and the remaining is 0.00053 BTC (which is what I have received).
Does it make sense?
5  Economy / Trading Discussion / Re: What to avoid as a beginner in trading Bitcoin? on: January 14, 2021, 09:47:15 AM
Beginners should avoid short term trading with any coin (not just bitcoin). The safest and the most conservative method for you is to buy bitcoin at the bottom low value and hold it towards peak value. This takes a rather long time but your profit is guaranteed and losses are minimal.
6  Economy / Trading Discussion / Re: How do you day trade with bitcoin these days while it is full of stress? on: January 13, 2021, 11:10:58 PM
I don't know why most people enjoy the heavy rise of bitcoin while it is only good for long term holders. How long do they want to hold? Forever? They have to sell at some point and exit the market. For day traders like me, expensive bitcoin is not attractive at all because it not only reduces my profit, it also increases my stress.

I have to buy at $40.000 and sell at $40.200 to gain daily profit (This is an example). This is much less profitable than when I used to buy at $8000 and sell at $8200 the same day. Apart from this, whenever I buy at $40.000, I am worried about a big crash right around the corner because the prices are too high now.

How do you cope with this situation as a day trader? Do you dare to buy $40K bitcoin for short term trading?


The only thing that's scary about day trading during the price is high, is when Btc suddenly crash and didn't bounce back.
This is exactly what this topic is all about and the main reason of my stress!
When the price is low, the chances of downward or backward movement is much lower than when the price is extremely high (near ATH).
7  Economy / Trading Discussion / Re: How do you day trade with bitcoin these days while it is full of stress? on: January 13, 2021, 09:20:24 PM
I am also one of those who do day trading, but it doesn't matter to me that the Bitcoin price continues to rise. Although the Bitcoin price of
$ 40,000 does not have to buy 1 BTC, we can buy according to our capital. And most importantly when doing day trading you must use
the stop-loss feature, so when the Bitcoin price falls like now the losses we get are not that big. And can buy Bitcoin at a lower price,
and sell it when the Bitcoin price goes up again.
Some exchanges lack stop-loss feature.
8  Economy / Trading Discussion / Re: How do you day trade with bitcoin these days while it is full of stress? on: January 13, 2021, 08:36:48 PM
I don't know why most people enjoy the heavy rise of bitcoin while it is only good for long term holders. How long do they want to hold? Forever? They have to sell at some point and exit the market. For day traders like me, expensive bitcoin is not attractive at all because it not only reduces my profit, it also increases my stress.

I have to buy at $40.000 and sell at $40.200 to gain daily profit (This is an example). This is much less profitable than when I used to buy at $8000 and sell at $8200 the same day. Apart from this, whenever I buy at $40.000, I am worried about a big crash right around the corner because the prices are too high now.

How do you cope with this situation as a day trader? Do you dare to buy $40K bitcoin for short term trading?

When you buy at $40,000 and sell at $40,200 you make $200 profit. When you buy at $8,000 and sell at $8,200 you still make $200 profit. How is this less profitable?
It is less profitable if you buy for example $100 worth of bitcoin not a full bitcoin.

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Best way to get away from stress is to find another hobby that can take your mind off it. If you are married you have nothing to worry about
If I was married (which fortunately I'm not!), I had much more things to worry about than bitcoin!

Quote
So what stress you were trying to talk about?
The stress that happened to me when a few days ago I bought some bitcoin at $39300 for day trading and it fell to $30500 after that! This is the kind of stress I'm talking about.
9  Economy / Trading Discussion / Re: How do you day trade with bitcoin these days while it is full of stress? on: January 11, 2021, 07:31:03 PM
Not all exchanges support stop-loss feature.

Quote
you can use other currency if you like as bitcoin is not that profitable if you have no big capitals for day trading
What altcoins do you think are more profitable than bitcoin for day trading? ETH? LTC?
10  Economy / Trading Discussion / Re: How do you day trade with bitcoin these days while it is full of stress? on: January 11, 2021, 04:38:30 PM
I have already lost some money because I bought bitcoin at $39300 two days ago and now it is about $31000!!
But I only hold it for now to see what will happen in the upcoming days. I still have some capital elsewhere but I don't touch it unless bitcoin falls to $10000 and even lower.
I have divided my capital into two different parts. One for buying cheap bitcoin to hold for long term and the other for day trading.
11  Economy / Trading Discussion / Re: How do you day trade with bitcoin these days while it is full of stress? on: January 10, 2021, 03:52:08 PM
I don't know why most people enjoy the heavy rise of bitcoin while it is only good for long term holders. How long do they want to hold? Forever? They have to sell at some point and exit the market. For day traders like me, expensive bitcoin is not attractive at all because it not only reduces my profit, it also increases my stress.

I have to buy at $40.000 and sell at $40.200 to gain daily profit (This is an example). This is much less profitable than when I used to buy at $8000 and sell at $8200 the same day. Apart from this, whenever I buy at $40.000, I am worried about a big crash right around the corner because the prices are too high now.

How do you cope with this situation as a day trader? Do you dare to buy $40K bitcoin for short term trading?

Whether its 8k or 40k, should not make any difference to traders.  You need to increase or decrease your position size. If are stressed trade small. You have that flexibility as it is divided into Satoshis.
In fact its more volatile, more swings up and down, giving more opportunities to trade and profit.
It does make a difference and a big one!
Suppose investing $100, buy at $8000 and sell at $8200. Profit = $2.5 (regardless of fees)
Suppose investing $100, buy at $40000 and sell at $40200. Profit = $0.5! (regardless of fees)

So, to earn the same $2.5, you have to sell at $41.000! In fact, you need 5x more price movement to achieve the same result. Bitcoin doesn't fluctuate $1000 every day.
12  Economy / Trading Discussion / Re: How do you day trade with bitcoin these days while it is full of stress? on: January 10, 2021, 03:39:36 PM
What about a person who doesn't own any bitcoin now? What should he do to earn profit from bitcoin?
Does it mean the man has not btc but he has money to invest/trading? If he has enough money to invest then I will not suggest someone to enter in btc trade in this position. They always should invest in high potential alt coins which did not pump yet. And I am pretty sure high potential altcoins will pump surely.
And for make a profit from bitcoin trade it's very risky to manage emotions. Because we always expecting atleast a correction from this point.
I have $350 of investment. I trade daily with $100 investment in circulation and I have set aside the remaining $250 to invest in bitcoin whenever it crashed to below $10.000.
13  Economy / Trading Discussion / Re: How do you day trade with bitcoin these days while it is full of stress? on: January 10, 2021, 11:44:26 AM
I don't trade. Just HODL my bitcoin until it reached minimum $100k-$300k whatever i feeling it's too high, so it doesn't make me stress
What about a person who doesn't own any bitcoin now? What should he do to earn profit from bitcoin?
14  Economy / Trading Discussion / How do you day trade with bitcoin these days while it is full of stress? on: January 10, 2021, 11:00:32 AM
I don't know why most people enjoy the heavy rise of bitcoin while it is only good for long term holders. How long do they want to hold? Forever? They have to sell at some point and exit the market. For day traders like me, expensive bitcoin is not attractive at all because it not only reduces my profit, but also increases my stress.

I have to buy at $40.000 and sell at $40.200 to gain daily profit (This is an example). This is much less profitable than when I used to buy at $8000 and sell at $8200 the same day. Apart from this, whenever I buy at $40.000, I am worried about a big crash right around the corner because the prices are too high now.

How do you cope with this situation as a day trader? Do you dare to buy $40K bitcoin for short term trading?
15  Alternate cryptocurrencies / Altcoin Discussion / Re: XRP Price Dives After SEC Files Charges on: December 24, 2020, 08:51:18 PM
Unfortunately, I bought $100 worth of XRP a few days ago @ $0.36 and it is not worth about $0.26!! This is the problem with most centralized coins. A wrong decision by a person or some organization will ruin the investors' efforts.

What do you recommend me to do now? Do you think Ripple will rise sooner or later?
Should I hold my coins or is it better to sell them as soon as possible to prevent further damage to my investment?
What about converting it to other coins to compensate for losses? (This is hardly possible now because all coins are expensive now)
16  Bitcoin / Electrum / Re: What is minimum safe amount of fee that can be set manually in Electrum wallet? on: August 03, 2020, 08:22:01 PM
Thanks for your explanations.
This concept seems more complicated than I expected but I will tell what I have understood.

According to what you said and what I see in the mempool graph (I mean the picture I uploaded myself), the biggest colored band is BLUE. It means most unconfirmed transactions are related to those who have chosen between 1 and 8 sat/byte for their transactions. So, if I choose this range of fees, my transaction takes longer to be confirmed by a miner.
In addition to this, the YELLOW color seems to have a small band which means it includes a small number of unconfirmed transactions (compared with BLUE band). So, if I choose anything between 80 and 140 sat/byte I have a much bigger chance to receive confirmation faster.

This is what I understand from the graph. Correct me if I'm wrong.
17  Bitcoin / Electrum / Re: What is minimum safe amount of fee that can be set manually in Electrum wallet? on: August 03, 2020, 05:43:27 PM
Can I use lightning network to solve this problem and send my BTC as fast as possible before the exchange rate drops?
The simplest option for you to avoid this kind of scenario in the future is to click "Customize Fee" within your Blockchain.com wallet, and pick a fee yourself based on how full the mempool is, rather than just accepting the fee that Blockchain.com tells you to use. Automated fee algorithms are notoriously inaccurate.
This seems like a practical solution. Could you please explain a little about mempool charts in the following website?

https://jochen-hoenicke.de/queue/#1,24h

As you said, I have to choose my fees based on mempool statistical data. How can I read the chart? What do the numbers on the vertical column mean?

18  Bitcoin / Electrum / Re: What is minimum safe amount of fee that can be set manually in Electrum wallet? on: June 03, 2020, 06:22:04 PM
Can I use lightning network to solve this problem and send my BTC as fast as possible before the exchange rate drops?
19  Bitcoin / Electrum / Re: What is minimum safe amount of fee that can be set manually in Electrum wallet? on: June 03, 2020, 10:24:51 AM
Since you are sending from a Blockchain.com wallet, the option of speeding up your transaction using RBF is not available to you. Who were you sending the coins to? The recipient could perform a CPFP transaction if you are in a hurry for the transaction to confirm, although this will incur a cost. If the transaction is not urgent, then just be patient.
Thanks for your fast and helpful support.
Actually, I wanted to convert some of my BTC to USD through an online exchanger. They gave me a wallet address for sending BTC. I sent them my BTC when it was $10.084! The problem is that BTC fell to $9600 today and my transaction has not been confirmed yet. This long waiting time made some losses for me. I placed my order at $10K but I don't know how much I will receive in my Perfect Money USD account. They should be really generous to calculate my conversion based on yesterday's exchange rates.
Maybe I'm lucky enough and at the time of confirmation, BTC rises again to $10K!
20  Bitcoin / Electrum / Re: What is minimum safe amount of fee that can be set manually in Electrum wallet? on: June 03, 2020, 09:50:10 AM
Yesterday, I sent some BTC from my Blockchain wallet to another address. This time I chose 2 sat/byte instead of 1. However, 24 hours have passed since then and it is still unconfirmed! Not even 1 confirmation!
Is this normal? Has it ever happened to you? I'm starting to panic!  Embarrassed
What will happen to my fund?
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