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Number 1 rule for me is don't give in to FOMO. If a coin is already pumping, resist to join in. If you have assets and profit is already within reach with pump slowing down, sell it. Play it safe and don't be greedy.
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I have to admit, I was once of those who took it really hard when I see my investments were going down and did not have the patience to hold and wait a week or 2. I have lost a significant amount of my BTC due to trading. But this is my road to understanding trading and eventually, I accepted that losses are inevitable. It is better to use this as an opportunity to grow rather than keep it bringing you down and not progressing. I have learned a lot and it will stay with me.
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The current trend may be due to the incoming hard forks but even after that I believe bitcoin will still climb due to its technology and how useful it will be. Sooner people realize this and get out of their comfort zone, sooner bitcoin will reach its highest potential.
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That's one good read and has some valid points although at the end of the day it still depends on what people want. It has red flags for being a scam coin true but people want free coins. If you want to sell your alts for this then go right ahead. If you don't want Bitcoin gold and afraid of replay attacks then lie back and let it all settle down before transacting. Me i'll sell half then hold half to diversify. One side has to be right, right?
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I still believe in ICO as a good way for innovative and great ventures to accumulate capital without all the red tape that banks and the government impose. ICO should not be judged by how greedy and trash people use it for fraudulent acts. Due to this, ICOs will be regulated. China and some countries are already starting to do this. It's constricting and but necessary to protect investors. If the the team and the proposal are sound then there wouldn't be problem.
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You can try high risk gambling like online poker, binary options and trading in exchanges. You'll need to bet a large sum of money to achieve your goal of 0.1BTC per week and you WILL experience losses depending on your luck on gambling and also skills on trading. Trading would be safer and as fast as gambling with careful analysis and planning.
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One reason I see why price altcoins continue to drop while BTC slowly climb to $4,600 and perhaps we will see $5,000 in the next few days is because of the upcoming hard fork for Bitcoin Gold. Remember the time when Bitcoin Cash was introduced? It looks like it’s happening again in anticipation of the air drop of Bitcoin Gold and what comes after the air drop? Just like what happen to BCC, dumped heavily and look at the price of BCC now it is also suffering from heavy dumping of Alts.
I agree. People are consolidating their BTC and selling off their altcoins to get free coins from the Bitcoin Gold hard fork. Then, like a broken record, we will do it again for the Seg2x hard fork. If you know what you're doing there are many trading opportunities to be had with all that's happening. Proper timing is key. |
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With the upcoming bitcoin fork and the so called "dividend" that will be received thru bitcoin gold the price of BTC is on the rise. I am considering selling all my altcoins, even at a loss, so that i can buy more of them once bitcoin's price rises up higher.
What are your thoughts on this? Would this be a good strategy?
If you have cut your losses at 5% it would have been a sound strategy. Cut losses then buy at bottom price. But if you were still contemplating by the time you posted this its already too late. It seems to have stopped falling for now but who knows. Just hold. at least if bitcoin gold turns out to be shitcoins it's a good thing you diversified.
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So guys, after 2 years of trading i am going to stop. (unless i have full time to trade, which i currently don't)
I have calculated all my trades on the various platforms i have used in the last couple years.
Deposited: 47BTC (roughly)
Withdrew: 40BTC (roughly)
Overall i am happy with the results, i would pay 7 BTC anyday for what i have learned so far.
Now the question is: what the fuck do i do now with my money.
If you're tired of risky ventures then there's no problem with just holding them. Keep them in cold storage, there's 2 more forks coming. Bitcoin will still rise eventually and when it's time to enjoy your investment, cash them and enjoy life. Or pass them on to your grandkids. |
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Gambling and trading are the way to go. I'd steer away from the gambling since if it's a sure fire way to earn 1 btc then we won't be here.  Trading is also a form of gambling but you have a bit more control. If you have the skills you can make real profits with trading using historical data and recent news. You also have stop-loss to minimize losses. Both are high risk so beware. |
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It's not really zero sum game per se. But from my point of view some people lose money while others gain from those loses and vice versa. But it will not equate to zero once everything is accounted. It's already too big for that with all the investments, sources and market swings. So, you can say it's a non-zero-sum game.
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I'm using blockfolio at the moment and it's been doing great for me. Just hoped it has a desktop version since i'm on my pc most of the time. I also expect it to have faster updates on prices once it has. It doesn't ask for any personal information to function properly which is the best part. I mainly use it to show me the current prices and give alerts. The news update is good too. I might look into that Altpocket and see what it offers.
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My brother-in-law has been doing bounties/campaign using his tweeter account. it's been going on for about a year now and he told me that he's still doing it so I'm assuming it's still possible. Might try it out as well in the near future.
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Because bitcoin is the best investment that you'll ever do if you act now. 3 years ago I heard about it and shrugged it off as another scam. Boy was I very wrong. Even buying around a year ago would have made me a lot of money if i held on to it. It's never too late to get into it. Just hold on for dear life.
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Bitcoin can never replace fiat in ease of use. In it's current state, bitcoin transactions are slow, pricey and requires internet. Bitcoin will need to resolve these, and gain government approval  , before it can replace fiat. |
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All coins can be good for day trading since it involves only what is trending. But looking at all altcoin news can be exhausting. So just pick 3-5 altcoin and stick with them, alternating if needed depending on which is having a trend. Read news on what your chosen coins and read the emotions if you can. Currently i'm trading ethereum and neo.
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I like bittrex more because it has NEO but I still use poloniex for the cheaper maker fees. There's been a lot of negative reviews on poloniex though and you should be taking it into account. Also as of today, Bittrex has more volume trade than poloniex. Had thoughts of moving everything to bittrex.
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If you're looking for historical information then you can use coinmarketcap.com and wikipedia. But if you want to know which one to invest in or trade, there would be a lot of things to consider since a coins profiting value is highly dependent on speculation and the ever changing market. Unless of course you're a whale then none of this matters. |
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This will be good so that we can weed out the scam ICOs from the legit ones. Given that there would be less of them, at least we are going to get quality ICOs. Hopefully anyway.
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