[Daily Discussion] Monday, November 20, 2017 Bitcoin Markets |
- [Daily Discussion] Monday, November 20, 2017
- Don't listen to the fresh hodl crowd.
- Buy and Hold 31 Cryptocurrencies for 365 Days - Week 14 - LISK & AEON double up.
- BTC approaching $8200USD - is a big correction coming?
- Sentiment : do you feel bearish or bullish regarding CME ?
- From 30K to 100K in 6 months?
- Fuck this shit—I’m stepping back for a little while (rant)
- Any exchanges that won't make banks nervous?
- Kraken - WTF?
- How I learned not to day trade.
- Those of you who think we're in a bubble, what's your strategy?
- Any Kraken reps here? Deposit on hold since Friday.
- Bitcoin Futures start today (for one month tests)
- Selling Bitcoin Cash for an Alt - good idea?
- The funny thing is I got into Bitcoin in 2013 because I thought the stock market was 'too shady'
- Should a Teenager such as myself Invest In bitcoin?
- Advice on reducing fees (GBP)
- Bitcoin reached $8000 again. Will it hold the price this time? $10,000 by the end of the end of the year doesn't seem impossible.
- This is why we're already on a TOP of this push or near IT and minimum correction to 6000$
- Anyone have any idea when Bitfinex will resolve the B2X CSTs?
- Will BTG have a second or third pump like BCH did?
- Fiat Gateway Exchanges
- What time frame do you use when trading?
- Not much but I just made a profit
| [Daily Discussion] Monday, November 20, 2017 Posted: 19 Nov 2017 08:06 PM PST Thread topics include, but are not limited to:
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| Don't listen to the fresh hodl crowd. Posted: 20 Nov 2017 12:12 AM PST I've read half a dozen or so people this week posting "what I've learned about trading" or "look at these trading mistakes I've made" posts where they conclude that you should just hold no matter what and certainly never short. These people have only been here a few months and they think they now have sage advice because they can identify what has obviously worked well since they got here. The phrase "the blind leading the blind" comes to mind. Now I'm not saying this specifically is the time to short bitcoin, but I do happen to know that shorting will be a very good move at some future point in time. The trick is to wait till the downtrend already sets in and set a tight stop for yourself. It may take a few tries but eventually you'll get a good entry and it will generate a lot of profit at a time when that profit can be used to buy cheap BTC. My point being if you're new here or have only been here a few months, don't think that other similarly inexperienced people understand how the multi-year crypto cycle normally plays out. They don't. If you're a trader remember to look at the 1 week chart from time to time, think for yourself, and good luck. [link] [comments]  |
| Buy and Hold 31 Cryptocurrencies for 365 Days - Week 14 - LISK & AEON double up. Posted: 20 Nov 2017 06:31 AM PST Very good week. This week's biggest gainer: LISK This week's biggest loser: DASH See the rules for the experiment here. [link] [comments]  |
| BTC approaching $8200USD - is a big correction coming? Posted: 20 Nov 2017 06:24 AM PST So, over the last month or so I have been reading up everything I can about BTC, and have acquired .1 (kicking myself for not reading into it more last year when it was at $700USD)... but anyway, shit happens. I have made a few very small trades and have always made my money back, but I am starting to feel the emotional BS that comes along with this type of currency. I can see why some people simply buy and hold, but I figure messing around with .01 buy/sell orders aren't gonna hurt long term. Anyway, I know that corrections happen when the BTC price rises far too quickly. I am also aware that the last correction may not have been a "correction" at all, and instead manipulated by some whales with a vested interest in BCH. I was curious about what the general consensus is about this upward trend. I've been looking at it periodically all day, and it seems to have surged within the last few hours... is this because the segwit fork is back on and people are hoping to get some free coin? What is the "behind the scenes" when these kinds of bull runs occur? Thanks for any help! [link] [comments]  |
| Sentiment : do you feel bearish or bullish regarding CME ? Posted: 20 Nov 2017 04:58 AM PST I'm always trying to think by myself, but I find a great way to learn is to know how experienced people think / analyse things. I'd be interested to know what's your read about CME entering the BTC ecosystem ? [link] [comments]  |
| Posted: 19 Nov 2017 09:23 PM PST Yet another lessons learned. I started buying small weekly fragments of BTC with Coinbase 10 months ago. After 2 months I was hooked and opened an account on Kraken. Here is my advice based on my experience:
Is has been a great experience so far. Fortunately only made small mistakes I could learn from along the journey. Coming from legacy stock-trading I learned some new refreshing terms like HODL, FUD, sell and buy walls, leverage, wales, forks, hash-rate, pump and dump, arbitrage. Have fun HODLing BTC, with some experiments on the side! [link] [comments]  |
| Fuck this shit—I’m stepping back for a little while (rant) Posted: 19 Nov 2017 02:48 PM PST Long story short, since the start of this year I've dropped about $1,000 total into bitcoin. And right now, I have almost nothing to show for it. I've lost all of it trying to trade. I'm better at it, but thinking about how much I've thrown away. Had I just HODLed, I could be sitting on .26 BTC—more than $2,000 right now. Just thinking about it makes my stomach hurt. My hardest loss was last Saturday night, during the correction into the 5,000s. My position auto-liquidated at just under $6,000; I was all in and lost everything at once. It cost me over $400. That's not much, but then again, I've never really had that much. I don't have anyone or anything to blame but myself. After some self-reflection, calling my trading style a "strategy" is an insult to people who actually think about what they're doing. I'm impatient and wildly impulsive, and that's hurt me badly. The good news is that I never really put more into it than what I could afford to lose. In all the ways that really matter, I'm fine. Still, this shit sucks. I don't want to give up. I've paid more than $2,000 in realized and opportunity cost for my hard-knock trading lessons. Putting them to waste would be an awful shame. Still, I need to step back for a while. It's time to really start educating myself. A monkey on adderall could have done better than I did. It sucks to sit out on the sidelines while other people are taking home 100%-10000% gains, but at this point doing nothing outperforms my past behavior by orders of magnitude. When I watched that position liq last week, I wasn't even angry anymore. I'm just frustrated and exhausted by my own shortcomings. Not gonna lie, tho—I am really worried about the market surges. If I sit out for the next three months before getting back in the game and the price winds up increasing 3x, I'm really, really worried about how little I'm going to be able to buy at that price. Trying to recoup my initial .26 BTC would be damn near impossible at that point without dropping thousands of thousands of dollars in, which I really can't afford to do. I could afford to put $60-100 a month into a wallet over the next six months or so, which at this rate could easily be thousands of dollars by then. Still, I'm leery of my own tendencies. I'm worried I'm going to get antsy with all of that and blow it on stupid trades again. I graduate in six months, and I work for five or six hours at a time a couple times a month. If instead of chasing this stupid fucking compulsion I just save whatever I earn, I might have enough to buy an old junker car. I've got a summer job lined up for me out west starting a couple weeks after graduation. Before it starts up, I could spend some of that time hiking, camping, and climbing mountains. Putting that $60-100 a month towards this wouldn't make me any more money, but what I'm doing right now certainly isn't either. At least spending my money on this goal would leave me with something tangible, with a fun and valuable experience. What I've done so far has just left me empty-handed. If I'd just held it all and cashed out, I would be well on my way to that goal already. I want some time to learn and to think, but also kind of want my money back too. I dunno. Sorry about this wall of text. I'm really frustrated with myself right now. EDIT: Thank you guys so much. I'm not sure if or when I'm ever going to get back on the horse again, but I'm sick of gambling. If my appalling trading record isn't a enough of a sign of my ineptitude, I realized that at this point the only solvent investment I have in BTC is some cloud mining contracts—and yes, I know how pathetic that is. But at least it's an extra fifty bucks a month that don't have to be paid for with anything else. So I got that going for me, which is nice. I'm just going to let that accrue for a couple months, and come back to things with a clear head. I should have an extremely modest $100-$150 to HODL, and I'm going to keep working for that trip out west. If the price seems to keep rising steadily, I'll buy and hold some more. Sell it all sometime in the spring, pay for gas, maybe my hiking boots. I've got a lot to think about, not just about how I invest, but about the decisions I've made and what causes me to make them. This sucks right now, but I look forward to becoming a better person, to becoming a more thoughtful person. Again, thank you guys so much. I'll drop y'all some Satoshis once I make it to whale club. [link] [comments]  |
| Any exchanges that won't make banks nervous? Posted: 20 Nov 2017 07:13 AM PST I plan to use my business bank account to buy not-insignificant sums of bitcoin at an exchange, and was advised to use Kraken. The reasoning was that they have high limits, and use SynapsePay to process deposits (which will not throw up any red flags to make banks nervous). It hardly needs mentioning, but Kraken is not very trustworthy at this moment...we can't even complete our business verification, to say nothing about whether we'll be able to buy & withdraw funds once we are verified. Are there any other, better exchanges that fit our use case? [link] [comments]  |
| Posted: 20 Nov 2017 06:58 AM PST Have been using this exchange again after a few months. What the fuck happened to them? This cancer is worse than ever. Trying to place orders, getting an EMPTY red error box. Trying again. Empty red error box again. Okay, third try. Same. Giving up, shit's broken. 10 minutes later, 2 of the 3 orders are somehow created and filled. Seriously, I wonder how they are still operating. Does no one sue them? How can an exchange give you an empty error, making you think that it didn't work, so you try again and 10 minutes later it creates both orders. Like, WHAT THE FUCK? [link] [comments]  |
| How I learned not to day trade. Posted: 19 Nov 2017 05:06 PM PST I've always been tempted by day trading, I see the price fluctuate up and down predictable amounts every few hours. What an easy way to make 5% on my investment, several times per day. Even though it looks like easy cash, I've always resisted. Everybody posts these stories about how they lost 50% or $1,000's by trading poorly and you never know when the next big surge or big dip will be. And then a week ago the Bcrash happened. It was so predictable, it was so obvious what was happening. I'll just flip it real quick I thought. I sold my BTC on the way down, bought BCH on the way up, flipped it back after a couple of hours. Great! I've increased my BTC by about 50%. Fast forward 12 hours or so, this shits still going on. There's panic in all the subreddits, everyone is doubting everything. I'm still a BTC believer, I flip it once more, real short term. Great, I increase my BTC 50% again. Literally minutes later BCH starts it's crash and BTC starts it's rise. I was out at a festival while this was happening. Had I been distracted, not checking my phone, etc etc, instead of doubling my BTC in a day, I could have halved it or worse. Lesson learned. Hold! Just hold. The only thing predictable about BTC is the long term. [link] [comments]  |
| Those of you who think we're in a bubble, what's your strategy? Posted: 20 Nov 2017 01:18 AM PST |
| Any Kraken reps here? Deposit on hold since Friday. Posted: 20 Nov 2017 07:01 AM PST Any Kraken reps active here? I've read the horror stories so I think I already know my answer but some visibility would be nice. Made my first fiat deposit to Kraken last week, it was logged on the Kraken website as "On Hold" on Friday so I submitted a ticket to them. It's now Monday and I've yet to receive a response. I've used Kraken for a long while now. Crypto deposits and withdrawals have always been trouble-free. This is the first real problem I've had other than problems with their trading engine. Unfortunately I doubt I will be using them again in future. [link] [comments]  |
| Bitcoin Futures start today (for one month tests) Posted: 19 Nov 2017 11:05 PM PST |
| Selling Bitcoin Cash for an Alt - good idea? Posted: 19 Nov 2017 08:16 PM PST Thinking of selling all the spin-off Bitcoin Cash from some Bitcoin I've been keeping on a paper wallet for an alt I would like to accumulate and HODL long term. Want to weigh in on whether now is a good timing, at least from the BCH perspective? [link] [comments]  |
| The funny thing is I got into Bitcoin in 2013 because I thought the stock market was 'too shady' Posted: 19 Nov 2017 03:00 PM PST In 2013 I had some excess money I wanted to invest. So I was looking for months to figure out how the stock markets work. In the end I decided not to invest in any company because my research resulted in the conclusion that "the trading market is impossible to understand unless you spend all day on it, with all the fraud around.". So I ended up reading about people turning to Bitcoin instead and bought some coins. Fast forward 4 years and we're at 8k USD with many people around thinking Bitcoin is shady. And as price goes up some more, people see a confirmation that Bitcoin is shady. Nothing goes up like this! Except ponzi schemes :-) What a rush! Thank you all! [link] [comments]  |
| Should a Teenager such as myself Invest In bitcoin? Posted: 19 Nov 2017 12:02 PM PST Hello Reddit! I am a Junior in high school and I am very interested in investing in bitcoin while the price is still relatively cheap. Ive been doing a fair amount of research and I truly believe that bitcoin will be the dominate crypto currency and I want to get some skin in the game before the price is out of my reach. I have anywhere between $500-$1000 to invest. Should I invest it all and hodl for the long term? (Cash out in my later adult life?). Or should I instead steer clear of bitcoin and invest in a more stable stock or mutual fund. Any tips on how to buy, how much to buy, and how to navigate the restrictions on being a minor would be very much appreciated. Thank you! [link] [comments]  |
| Posted: 20 Nov 2017 01:33 AM PST Bought a modest amount of currency on Friday and just playing around and seeing how everything works. Now, the only thing I can't figure out is: If I need to send BTC to GDAX from my offline wallet so I can change it back to GBP, is there a way of eliminating network fees? GDAX/coinbase don't support the import of private keys. Is it best to use a wallet that allows me to reduce priority on the blockchain, or is there another place besides GDAX/Coinbase I can just import my private key straight to and avoid the fees altogether.? Also, if I convert my BTC back to GDP on GDAX, is it safe sitting on their server? I've seen a few horror stories of people transferring money to and from coinbase/their bank and the money disappearing. (Are these people incompetent or is there a problem on the coinbase side?) So if possible, I'd just like to keep it on there as GBP during market dips and then buy BTC back when I want it. Thanks [link] [comments]  |
| Posted: 19 Nov 2017 02:11 PM PST Bitcoin hit $8,000 3rd time this month. Will it stay above $8k this time? $10,000 doesn't look too far from reality anymore! Thoughts? [link] [comments]  |
| This is why we're already on a TOP of this push or near IT and minimum correction to 6000$ Posted: 19 Nov 2017 06:56 PM PST https://i.imgur.com/8cOf9WG.jpg (sequence of images showing the lows / highs and Fib Fans with breakouts and supports) Made this very simple TA using only Fib Fans and it's amazing how all of this plays out. This leads me to make the assumption that we're on the top of this push (around 8000$) and we will have to have a pullback to minimum 6000$ to reach the bottom part of the ascending Fib Fan of this push. Notice as in each wave price has been rising faster and the time to make a new high takes almost 2x the time. This also leads me to assume that next push will continue to take the price to higher levels and it may take more time. We've been having as tops 2500$ / 5000$ / 7500$ (all above this has been emotional trading and profit squeezing) -> next push will take the price to 10000$ for sure. What do you guys think about this interpretation? Glad to read all opinions. Thanks [link] [comments]  |
| Anyone have any idea when Bitfinex will resolve the B2X CSTs? Posted: 19 Nov 2017 09:54 AM PST So we're in a situation where the miners cannot (or will not) mine the forking block for the Segwit2x chain. I did not forsee this particular outcome when I dumped all my B2X tokens some weeks ago. I was hoping to have my BTC off the exchange already. Assuming the stalemate with Segwit2x continues, am I correct in thinking that Bitfinex has basically no choice than to let the contract expire on January 1st 2018? Any miner could mine the forking block at any time, and the B2X holders could rightly scream bloody murder if Bitfinex resolves the CST before that happens. I'm presuming the price on BT2 tokens is now in the same situation as the price on BCU tokens -- those holding the tokens know that BT1/BCC holders need to buy them to get their funds off the exchange before Jan 1st. [link] [comments]  |
| Will BTG have a second or third pump like BCH did? Posted: 19 Nov 2017 09:03 PM PST |
| Posted: 19 Nov 2017 10:34 AM PST I am looking for alternatives to Kraken with fiat trading pairs. Can anybody recommend an exchange with fast/hassle free back office? Edit: hassle free as in reliable and fast [link] [comments]  |
| What time frame do you use when trading? Posted: 19 Nov 2017 01:07 PM PST |
| Not much but I just made a profit Posted: 19 Nov 2017 01:16 PM PST I know this isn't much when you weathered traders read this, but I just wanted to remind and congratulate myself on making a profit from trading crypto for the very first time. I lost included my losses when I purchased from fiat to crypto (mining fees & transaction fees) & have recovered those losses to make a profit. Only a few dollars but the idea that I'm not in the negative is a happy thought and good start. (FYI - I have only been actively trading for a week) [link] [comments]  |
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