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Author Topic: selling my mined btc for euro instead of usd  (Read 4715 times)
madken7777
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November 24, 2014, 05:54:17 PM
 #21

EUR is trash these days. Get on some migthy dollar, it cant fail.

That is why you want to invest in Euro... because it is trash now.

Buy High Sell Low Much?

How low is low and how high is high?

Trend trading is much better and you can make up the profit difference by winning more often.
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sonofacoin
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November 24, 2014, 07:23:32 PM
 #22

EUR is trash these days. Get on some migthy dollar, it cant fail.

That is why you want to invest in Euro... because it is trash now.

Buy High Sell Low Much?

How low is low and how high is high?

Trend trading is much better and you can make up the profit difference by winning more often.

I would disagree.. Trend trading will drive you to make more trades than you need to. And to secure a profit you will have to be right on every or most trades. The probabilities of that happening are low.

The reason I say buy Euro or Yen or Ruble is because they are priced at years lows. And we know neither of those currencies are going belly up. You may not see a return profit in a month or two months but you will get more ROI in the long run. And you won't have to be glued to your screen every day. Unless that's what you like...

But I will agree with you that if you are into day trading or swing trading, buy when they buy and sell when they sell. Just because day traders can do it fast enough.

aronnov
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November 24, 2014, 07:31:43 PM
 #23

I think there is a problem that if the Bitcoin mining, currency exchange rates used is other than the US dollar, for example, the euro, the euro is now becoming one of the major competitors in terms of currency for European countries, it was made to drop the dollar dominance world, if you are using the euro as currency exchange rates on your mining, then it can increase price competition between the dollar and the euro, hopefully bitcoin prices will further increase and stable ...  Cool
sonofacoin
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November 24, 2014, 07:45:58 PM
 #24

I think there is a problem that if the Bitcoin mining, currency exchange rates used is other than the US dollar, for example, the euro, the euro is now becoming one of the major competitors in terms of currency for European countries, it was made to drop the dollar dominance world, if you are using the euro as currency exchange rates on your mining, then it can increase price competition between the dollar and the euro, hopefully bitcoin prices will further increase and stable ...  Cool

Wow... you really think a crypto coin with a market capital of less then $5 Billion USD can drive the price of a currency like the Euro ? (or any currency for that matter.)

Dreaming pretty high here! So high the line is a point.





aronnov
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November 24, 2014, 10:09:22 PM
 #25

I think there is a problem that if the Bitcoin mining, currency exchange rates used is other than the US dollar, for example, the euro, the euro is now becoming one of the major competitors in terms of currency for European countries, it was made to drop the dollar dominance world, if you are using the euro as currency exchange rates on your mining, then it can increase price competition between the dollar and the euro, hopefully bitcoin prices will further increase and stable ...  Cool

Wow... you really think a crypto coin with a market capital of less then $5 Billion USD can drive the price of a currency like the Euro ? (or any currency for that matter.)

Dreaming pretty high here! So high the line is a point.







I mean when we mine bitcoin will not be a problem if we change the price of mining bitcoin exchange into euros, the price of the current euro exchange sdh almost equal dollar even more
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November 24, 2014, 10:45:37 PM
 #26

The safest option is always to diversify. Get both currencies, $ and €. Some Swiss francs and British pounds are also nice.


I agree with diversification in general but the idea above is terrible.

In the case of currencies you are pretty much generating a Zero Net Return. For instance the dollar goes up, the euro goes down. And viceversa, that is how it works.

Yes, that's the plan. Commodities traders excepted, nobody sees fiat money as an investment. The idea is only to safeguard your cash against the sudden drop of a given currency. If you have a large sum of money to invest, there are other options than cash, but that isn't the question here.

If you're looking for a trading/lending place,
better avoid Poloniex, as it socializes losses.
Learn more about it on this topic.
sonofacoin
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November 25, 2014, 12:44:05 AM
 #27

The safest option is always to diversify. Get both currencies, $ and €. Some Swiss francs and British pounds are also nice.


I agree with diversification in general but the idea above is terrible.

In the case of currencies you are pretty much generating a Zero Net Return. For instance the dollar goes up, the euro goes down. And viceversa, that is how it works.

Yes, that's the plan. Commodities traders excepted, nobody sees fiat money as an investment. The idea is only to safeguard your cash against the sudden drop of a given currency. If you have a large sum of money to invest, there are other options than cash, but that isn't the question here.

Trading forex can be seen as an investment. Buy $1000 USD worth of Rubles now. And wait a year and sell back to USD. I bet you will be making 30% ROI easy. The reason: Russia hoarding gold to protect their economy and OPEC may cut oil production and oil may stabilize or get to $80 a barrel.

But yes, we are diverging from OPs question.

I guess I would answer yes, sell Bitcoin for Euros and save them for half a year. You would be getting 307 Euros per today's BTC price.

We are at almost all time historical USD to Euro rates. And Euro is about to approve their own version of quantitive easing. Which saved USA, should also save Europe from a crisis. I bet you can also get about 20% ROI.

But then again, at these bitcoin prices... why sell?




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November 25, 2014, 11:57:32 AM
 #28

I prefer EURO cuz im from Europe.
 But further more i like past time when DM was meaning to pay all over the Europe.



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bajlox
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November 25, 2014, 11:59:40 AM
 #29

Why dont you keep it in your currency?
Perhaps it better or try something else.

Dollar is good, Euro is lame for me.
But if you can use some other currency perhaps GBP if you can.

leen93
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November 25, 2014, 12:00:29 PM
 #30

don't keep any euro!
euro is going to down like hell, just keep your bicoin or if you really need to exchange them for usd
leen93
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November 25, 2014, 12:08:17 PM
 #31

EUR is trash these days. Get on some migthy dollar, it cant fail.

That is why you want to invest in Euro... because it is trash now.

Buy High Sell Low Much?

How low is low and how high is high?

Trend trading is much better and you can make up the profit difference by winning more often.

I would disagree.. Trend trading will drive you to make more trades than you need to. And to secure a profit you will have to be right on every or most trades. The probabilities of that happening are low.

The reason I say buy Euro or Yen or Ruble is because they are priced at years lows. And we know neither of those currencies are going belly up. You may not see a return profit in a month or two months but you will get more ROI in the long run. And you won't have to be glued to your screen every day. Unless that's what you like...

But I will agree with you that if you are into day trading or swing trading, buy when they buy and sell when they sell. Just because day traders can do it fast enough.


It's not sure the dollar will go down against those currencies, it's not because it went up it will go down, if Europe, Japan... keeps making more money than the US does the dollar will keep rising. If you like to forex trade anyways, u can do that with bitcoin (everything stays in bitcoin, so if EUR/USD raises 0.5% with 200 leverage you get back double the amount of bitcoins or opposite) : https://1broker.com
sonofacoin
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November 25, 2014, 04:06:15 PM
 #32

leen93,

I agree with you that if something goes up does not have to come down just because it went up. Companies and currencies go belly up. So yeah I agree there.

So forgive me if I made it sound like the auroras to come up just because.

But the truth is that there are many reason why the euro will eventually head up in the next year. And without getting into much discussion I said that it will go up.

Printing Money so far has worked for USD. Which is the strongest fiat at this moment. Would it run forever up? of course not.

QE worked for US, I am betting Euro will also work.

Someone mentioned that if you don't need to sell, don't. And I think maybe that is OP's 1st step.
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November 25, 2014, 05:33:10 PM
Last edit: November 25, 2014, 09:31:00 PM by Amph
 #33

EUR is trash these days. Get on some migthy dollar, it cant fail.

dollar may be mighty, but it's trash also

both are bad
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November 26, 2014, 08:28:03 PM
 #34

If you need a  strong currency,   then use Australian dollar.

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November 27, 2014, 07:25:10 PM
 #35

The safest option is always to diversify. Get both currencies, $ and €. Some Swiss francs and British pounds are also nice.

I disagree. It is most likely best to sell your mined bitcoin for your local currency (the OP appears to primarily buy things in US dollars) assuming that it is stable. It is generally expensive to buy and sell various currencies (you will generally lose between 1 and 5 percent by exchanging currencies on a small scale) so any "protection" you get from this diversification would result in you paying more in fees then your EV of diversifying your currency

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John999
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November 27, 2014, 07:55:44 PM
 #36

The safest option is always to diversify. Get both currencies, $ and €. Some Swiss francs and British pounds are also nice.

I disagree. It is most likely best to sell your mined bitcoin for your local currency (the OP appears to primarily buy things in US dollars) assuming that it is stable. It is generally expensive to buy and sell various currencies (you will generally lose between 1 and 5 percent by exchanging currencies on a small scale) so any "protection" you get from this diversification would result in you paying more in fees then your EV of diversifying your currency

+1
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November 27, 2014, 08:59:46 PM
 #37

don't keep any euro!
euro is going to down like hell, just keep your bicoin or if you really need to exchange them for usd

i live in EU...
and unfortunately I have to confirm..
we are goin to test the 10 years bottom level...

maybee... 1.2

here ten years of EUR/USD


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November 27, 2014, 11:05:39 PM
 #38

Is a USD/euro parity coming  Shocked
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November 29, 2014, 09:02:45 AM
 #39

Sell if you want for what you want.
My advice dont sell yet w8 for some pumping on price and then sell if you want or invest now in some other alt.

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November 29, 2014, 09:05:28 AM
 #40

Maybe best thing now os try to invest in some other crypto.
What  is right at the moment no one knows, is it to sell it to buy it or to invest.
Think that we are in some middle state and soon something will happen was is bad or good.



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