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At first mining was a piece of cake. You could mine on your own personal PC and making thousands of Bitcoins. Today it's impossible.
He knew that he must adjust the difficulty for mining (I believe to increase the price of the bitcoin). But have he ever imagined that mining will be ever possbile on GPUs or ASIC miners? What about mining farms? Is this man a genius?
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I would like to send some BTC from Kraken to Bitfinex but the transaction fees are high, ~30$. Is there a better way to transfer money like: buying LTC, ETH or some altcoin and send it?
- BTC withdraw Kraken fee: 0.00100 BTC
- Bitfinex deposit fee (less than $1000): 0.0005 BTC
If I change BTC to some altcoin, the maker fee is: 0.16% from BTC.
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Many exchanges said that they will support and implement segwit2x somewhere in 2018. This will produce another altcoin (like Bcash, Bitcoin Gold, etc) and making the current Bitcoin legacy or it's just an upgrade to the blockchain? If it makes another altcoin, then why Bcash was created? I don't get it.
Is this some type of hard fork like was for ethereum? Etherum did became legacy: Etherum Classic and the new hard fork, simple, Etherum. As I can see people adopted the new coin which hard forked: Etherum. Is this will be the future of bitcoin? What is your thoughts?
If the "new" segwit2x will be adopted and marking Bitcoin as legacy, then will it follow the same path as Etherum classic? I am asking because the Etherum Classic is ~$35 while Etherum is $700.
Is it worth to invest for long term (1 year) in Bitcoin for 2018 - 2019 if the segwit2x hits in?
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- Have you ever heard about Kim Kardashian?
- Yes.
- Great. What's her purpose?
- Uhm, I don't know. Nothing.
- Exactly! Nothing, yet it's worth billions.
What's the point of saying that, though? How people view Kim Kardashian or her worth has absolutely nothing to do with Bitcoin and how people view it. That just helps to spread the confusion surrounding Bitcoin and only makes it worse to the person you're replying to. I'd advise that you stop posting nonsense surrounding Bitcoin, and do more to learn about what it is and how it works before you start giving people fake news about it. Stop spreading confusion... When I am encountered by someone that calls Bitcoin or any other cryptocurrency a ponzi or scam, I just remind them of gold. Yes, gold. This usually puts it in a way and perspective that people understand. They don't understand how gold is mined or purified or transported or exchanged... or how it gets its value. But I remind them that gold's value is based on supply and demand. There's a limited amount of gold on this earth, and because of that, it retains its value. The value of gold doesn't rely on new people discovering it. I then remind them that Bitcoin follows the same principle. There's a limited supply of it. And my personal investment in the crypto doesn't change because I introduce anyone to it. There's no direct bonus for me to bring them into Bitcoin. I'm then usually asked "so why do you talk about Bitcoin so much? It sounds scammy when you keep pushing it" to which my reply is "I just don't want to be that asshole that didn't introduce you guys to the opportunity to buy in early. I just want to cover my bases so I can tell everyone 'Remember those times when I told everyone to buy Bitcoin under $500? This is why!'. I don't care whether you invest into it or not, but I'm doing my part by spreading the word about something I'm passionate about, much like how Christians spread the word about Christ or how friends tell you about a badass steak they had at a new restaurant." And if the person still feels like it's a ponzi or a scam, I just tell them I'll never bring it up around them again. Simple. That's the reply that I was looking for. Thank you! |
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- Have you ever heard about Kim Kardashian?
- Yes.
- Great. What's her purpose?
- Uhm, I don't know. Nothing.
- Exactly! Nothing, yet it's worth billions.
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Don’t get me wrong, I’m holdig bitcoin and I am amazed of it. Anyways, I don’t get it why Bitcoin is not a ponzi scheme. How ponzi scheme works? By bringing new and new investors to the scheme/market. How does the bitcoin price rise? By buying/brining new people into the network. So if anyone could give me a good explanation why bitcoin isn’t a Ponzi scheme I would appreciate it.
If all the poeple would sell their bitcoin holdings, the price would crash to 0 and ~70% of people would remain with loss.
L.E: What's the purpose of ponzi scheme? Nothing. After 1, 2 year, cash out and take all the money. So... what's the purpose of Bitcoin? Back in 2009 it was made to change the way we think about money, decentralization, low fees => to change the current banking/fiat system. But I can't see the Bitcoin as the "future of the money" because of high tx fees. Current fees are between 18 ~ 25$. So if you send 10$ to someone, you would pay much more fee. Is this it a digital gold? And now, again, I ask... what's the purpose of Bitcoin?
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I bought for 1,000$ Bitcoin back in August 8, 2017 and I made day trading, bi-weekly, weekly trades. I have sold when price was high and buy back when price was low. In total I have made nearly 20 trades. With every trade I made between 0$ - 50$ - 250$ profit. As for now, my balance is nearly ~50% more than was initial.
If I just hold my bitcoins all these days and sell it right now, I would have: 4,872 $ (3,782$ profit). That's just crazy! And I'm questioning myself: why didn't I hodl my bitcoins? Because of fear. If I just look back, it's easy to say, but within these months there was multiple events that could affect (it affected but not that much) the price of the bitcoin:
- exchanges hack (people cash out)
- big investors/bankers saying that bitcoin it's a bubble/ponzi scheme (people cash out)
- high tx fees/forks (abandon BTC and moving to BCH)
- China banning bitcoin (people cash out)
- contracts/futures (currently) (big traders opening short positions)
In every month there is something. The fear of losing money. How do you deal with this? Are you hodling your coins? Do you invest every month? Do you day trade?
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Let's say I have 1k USD to invest in BTC or ETH and I invest the half of it $500 and the other half I'm keeping to buy back if the price goes down (some kind of protection?). A friend of mine has multiple open position in different cryptos and at the end of the day some of the cryptos gives him profit, but some of them losses, so he's at 0 (back where he started). Some days he makes good profit, but other days he's in loss.
- If I'm going in with all of my money and the price goes up then the profit is bigger (50%), but if the price goes down I can choose between: cash out at the moment with a loss or to wait days, weeks or months until the price goes back (can't trade anything because all of the money is already invested) to be back at 0.
- If I'm going in with half of the money and the price goes up, then the profit is lower (-50%), but if the price goes down, then the chances are I can buy back the crypto at a low price and wait until reaches a price that my investments will cancel each other out, so I will be back at 0.
What do you think about this risk management? How do you invest your money (if you're not a holder)?
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Why would you transfer them from one trading platform to another in the first place? The only advantage I see is not having to pay more fees, instead of sending them to your desktop wallet then sending them again to KRAKEN, you can send them directly and not having to pay the network fees that your wallet will calculate, its nothing much anyway.
Buying at my local exchange it's much more cheaper (if I subtract the fees) and it's faster. Actually the prices are higher, but if I subtract the fees it's cheaper. But as I said, this service is an exchange, not a trading platform like kraken. In order to buy from kraken, I need to convert my local currency to USD (1.15% fee), transfer to Kraken's bank address ($16 fee) and it can take 2 - 5 business days and after that buying with 0.26% (market price) or 0.16% (limit price). If I buy on local exchange, it takes only 5 - 15 minutes and aprox 1h to receive the bitcoin in my wallet. I'm asking if it's safe to add kraken's BTC address instead of my local Desktop's wallet address so this way I can save more money instead of just throwing on fees. Is this safe? Can the transaction be lost? It is completely safe to send Bitcoin on your Karken Bitcoin address. This is how the trading is done. We all send bitcoin to exchanges for buying altcoins. Buying at local exchanges also give arbitrage opportunity. Exactly, but I was asking if it's safe enough to send bitcoins directly to kraken's BTC address instead of my Desktop Wallet. When I buy Bitcoins from my local exchange, I need to enter a BTC address. I can't keep BTC on my exchange site. That's the point. |
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Why would you transfer them from one trading platform to another in the first place? The only advantage I see is not having to pay more fees, instead of sending them to your desktop wallet then sending them again to KRAKEN, you can send them directly and not having to pay the network fees that your wallet will calculate, its nothing much anyway.
Buying at my local exchange it's much more cheaper (if I subtract the fees) and it's faster. Actually the prices are higher, but if I subtract the fees it's cheaper. But as I said, this service is an exchange, not a trading platform like kraken. In order to buy from kraken, I need to convert my local currency to USD (1.15% fee), transfer to Kraken's bank address ($16 fee) and it can take 2 - 5 business days and after that buying with 0.26% (market price) or 0.16% (limit price). If I buy on local exchange, it takes only 5 - 15 minutes and aprox 1h to receive the bitcoin in my wallet. I'm asking if it's safe to add kraken's BTC address instead of my local Desktop's wallet address so this way I can save more money instead of just throwing on fees. Is this safe? Can the transaction be lost? |
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I could buy Bitcoin from a local exchange site and transfer it directly to trading platform (kraken). So, instead of adding my Desktop's wallet address, I could add kraken's generated BTC address.
Is it safe? Does it have advantages or disadvantages?
P.S: I can buy from kraken, but the fees are high and it's time consuming.
L.E:
Buying at my local exchange it's much more cheaper (if I subtract the fees) and it's faster. Actually the prices are higher, but if I subtract the fees it's cheaper. But as I said, this service is an exchange, not a trading platform like kraken.
In order to buy from kraken, I need to convert my local currency to USD (1.15% fee), transfer to Kraken's bank address ($16 fee) and it can take 2 - 5 business days and after that buying with 0.26% (market price) or 0.16% (limit price). If I buy on local exchange, it takes only 5 - 15 minutes and aprox 1h to receive the bitcoin in my wallet.
I'm asking if it's safe to add kraken's BTC address instead of my local Desktop's wallet address so this way I can save more money instead of just throwing on fees. Is this safe? Can the transaction be lost?
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I've been watching charts for the past couple of hours and BTC price reached ATH but ETH price doesn't even moved. Suddenly BTC price dropped and ETH price dropped as well. Why doesn't go up with the price increase of BTC?
As I expected, if you want to exchange crypto to crypto, BTC <-> ETH, if the price of BTC goes down, the price of ETH goes up and if the BTC goes up, the ETH goes down. But why the fiat to crypto value doesn't goes change as well?
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People say that I shouldn't invest in more than I could afford to lose, so let's say just $ 200 would be okay, which is currently 0.06297962 BTC (1 BTC = $ 3175). Currently it's ATH so I'm not investing right now, I will just wait for price to drop. After losing nearly 2k USD in altcoins because I wanted to "go with the train" when the price seems to reach new high, the price suddenly dropped. So I'm not going to do that again. What have I learned studying the charts in the past that the price what you can see aren't the real price, because of the fees and they are available for 1 whole Bitcoin. So assuming buy low: 2818 USD and sell it 2825, the price difference is $ 7 USD. My inner me said, oh that's 7 bucks of profit for risking 2818 USD. Yes, the price difference is $7, but the fess aren't applied which depends of how do you buy/sell the FIAT or Bitcoin. If you sell/buy it on market price, a 0.26% fee is applied and selling/buying with limit the fees are 0.16%. Below you can see the price and fees calculation 1. Buy at 9:00 am 1 BTC for $2818 at limit price (0.16% fee), you will have: 0.9984 BTC (0.0016 BTC fee) 2. Sell at 2:00 pm 0.9984 BTC for $2825 at limit price (0.16% fee), you will have: $2815.97 ($4.51 fee) As you can see, even if the price increased by 0.25%, you will lose money because of fees. In this scenario, risking $2818 you lost $2.03 in 5 hours. That's just crazy. Your loss will be higher if you buy/sell on market price (0.26%). I made a simulation in excel applying formulas to see my investment:  -$7.67 if you buy/sell on market price (worst scenario) -$4.85 if you buy at limit price and sell at market price -$4.85 if you buy at market price and sell at limit price -$2.03 if you buy/sell at limit price (the best scenario) So, in order to be at 0 (no loss but no profit either) the price should increase by $12 (or 0.43%) which is $2830. See below:  By investing $200 you won't get any reasonable profit ($6) even if the price increase by $100 ! Buy at: $2818 and sell at $2918, see below:  ---------------------------------------------------- As you can see, the fees are strictly high and most of the time people just ignore it and secondly, investing more into Bitcoin you will gain more profit, but the risk also increases. So here are my questions towards to you: 1. How do you day trade? 2. How much money do you invest? 3. Do you have a stop-loss? Do you have targets? 4. Are you using some helper tools like tradingview? 5. By day trading it means that you continuously need to follow the market and get in/out. (You need to stay in the front of your computer which is time consuming). 6. Do you make multiple sells/buys in a day? How do you get a valuable profit after applying the fees in a given time-interval if the price difference is pretty low. 7. Day trading or just buying and keeping? ---------------------------------------------------- Long time trading looks to be more profitable towards day trading. By long time trading I mean for 10 months or 1 year. If you invest in Bitcoin $100 in every month, just buying and holding, at the end of the year you will have aprox $2200 for $1000 investment. That's 120% profit! (Calculated for past year from 1 Feb 2016 - 1 Jan 2017). |
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Yesterday I just lost 1.8k USD, maybe in USA or in West Europe that's doesn't much, but here in my shitty country that's a f* big amount of money. Here the minimum wage is ~ 300 USD / month. So that's like 6 month of work if I cut my bread and water and live on air. Half of my saving were other investments, but anyways... I'm feeling shitty right now. Oh, and I break my laptop. So yeah, that's another - 500 usd.
I though I can trade. Buy low, sell high. Sounds good, doesn't work.
Looking at the charts and candle sticks and watching old bitcoin values, and huge spikes (pump, I saw here how people uses the pump word, daaaamn...) I was... yeah, I can totally do that. I'll just buy when it's low, and sell it when it reaches the top. Well, I was wrong. You can't see the future, otherwise everyone would be a millionaire. That would be true if you would have a delorean from '85 with Emmett Brown and Marty Mcfly and you could f* travel in future and see the PUMPS!!!1
So anyone who will read this message (noobs like me) if you don't have any trading experience, don't do it. There are expert traders who know how this market works, when to buy and when to sell. Don't assume your skills by watching youtube videos and reading "daily indexes and predictions" of how the price will rise or go down by shitty sites. That's just dumb. You don't know what's gonna happen. Maybe a little bit of luck, or I don't know.
So yeah, from now on, I'll just leave the trading area for experts and I will invest in bitcoin by buying every 2 week or monthly and saving into my wallet. And one day (I hope so) the price will rise and I will buy for my self a delorean.
Cheers!
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I'm pretty new to the cryptocurrency world and what I have seen in the past days, everybody is talking about BIP 149, SegWit2x and other terms that I really don't understand. As far I can understand that bitcoin will split into 2 separate currencies: BTC (Legacy old) and BCC (Bitcoin Cash or Bitcoin ABC -it's the same, right?-) after 1 August UTC 12:00 am. People say that I should withdraw all my coins into my Electrum Wallet before 1 Aug. That's what have I done.
After the split, everything will be cloned and people will have both BTC and BCC. If you had 1 BTC, after the split you will have 1 BCC as well. So... what to do after that? Will ever BTC exists? Will people have the possibility to trade with BTC and with BCC as well? If these are 2 different currencies, that means if I make a transaction with BCC (send) then it will be transfered in BTC as well? Will the 2 currencies "synchronize" with each other? (I don't know if you can understand what I'm trying to say).
- Bitcoin price has dropped. Should I invest more FIAT into it before 1 Aug?
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Salutare, fiind nou in acest domeniu vreau sa va intreb/sa va cer sfaturi legat de depuneri si retrageri prin EUR prin exchangeuri gen kraken si bitstamp. Am cont la ING de vreo 4 ani de zile (cont RO) si de vreo 2 ani cont in valuta EUR. M-am inregistrat la kraken (pe bitstamp inca nu), acuma sunt in procesul de validarea a contului iar urmeaza sa alimentez contul kraken cu EUR. Astfel, inainte sa pierd bani (suma mica), vreau sa va intreb despre tot procesul asta de tranzactionare.
1. Se poate transfera EUR spre kraken prin SEPA ING? Este SEPA suportat de ING? Daca da, atunci de ce mi se adauga +15 EUR la orice transfer in valuta? Rolul SEPA-ului nu este sa avem comisioanele cat mai mici cand se face un transfer spre o banca din UE?
2. Necompletarea SWIFT-ului atrage alte comisioane in plus. Orice banca are SWIFT? De ce mi se adauga alte comisioane? Banca cu care colaboreaza kraken, are SWIFT?
3. In cat timp se proceseaza un transfer spre kraken si eventual o retragere EUR?
4. Am mai citit ca la unii au blocat contul la ING, deoarece banii primiti veneau de la o sursa "neverificata". Cum? Cand se face un transfer, nu scrie provienenta baniilor? Nu scrie firma cine a efectuat transferul?
Dupa cum vedeti, foarte mult se pierde pe comisioane. Sa nici nu mai vorbim de comisioanele ce le tine kraken la fiecare transfer fie crypto-crypto, EUR-EUR sau vice-versa. I-as multumi celui care mi-ar putea clarifica putin situatia sau sfaturi legat de transferuri eventuale "hidden fees".
Mersi!
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cum se face ca orice incepator in crypto, intra direct in shitcoins???
invatati de Bitcoin prima data! asta e sfatul meu pt toti incepatorii
Am ales ETH, deoarece in ultima perioada pretul acestuia a explodat. Si posibil ca in viitorul apropiat pretul intre low si high sa fie destul de mare si avantajos. Legat de bitcoin, acesta are un pret foarte mare si plus ca nu am studiat evolutia acestuia. De ce consideri ca ETH este shitcoin? |
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Salutare, cum zice si titlul, sunt incepator in lumea cryptocurrencyului, astfel va cer ajutorul. Pe mine m-ar interesa ETH si m-as juca prin arbitraj, buy low - sell high. As mai intra si pe poloniex pentru a face schimb intre BTC si ETH, dar principiul ar fi acelasi. Inainte de a incepe si fara de a pierde bani, am cateva nelamuriri:
1. Unde sa-mi fac portofel digital? Lumea zicea sa mi-l creez pe siteul oficial Ether si sa descarc programul lor. Altii ziceau sa mi-l creez pe alte siteuri (fara descarcare program), dar fiecare are avantajele si dezavantajele lui. De exemplu programul local nu este la fel de securizat ca si siteurile (de ex: 2FA) si sincronizarea se face greu. Ce imi recomandati?
2. De unde se merita de cumparat ETH?
3. Unde se poate face conversie ETH to EUR sau RON? Am gasit siteuri dar au comisioane foarte mari. Astfel nu se merita sa-ti retragi banii, ca profitul din schimburi ii pierzi pe comisioane.
Mersi frumos!
Nota: Miningul nu m-ar interesa.
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