Bitcoin Talk

[GMT]

On 270 trades now since the start of the year trying to day trade. Wish I'd got in at the end of Aug last year as market cap trippled by the time I started. Impossible not to make money in that climate but to make in a falling market, (25% all money taken out of system in 48 hours) is tough. Almost impossible. You need the right strategy rather than trying to guess the right coin.

 

[ganjygav]

On 270 trades now since the start of the year trying to day trade. Wish I'd got in at the end of Aug last year as market cap trippled by the time I started. Impossible not to make money in that climate but to make in a falling market, (25% all money taken out of system in 48 hours) is tough. Almost impossible. You need the right strategy rather than trying to guess the right coin.

I look at cheap coins on the market and see if they're being talked about in forums.
Can that be called a strategy lol

 

[englishrick]

I really love the way this shit brings us together

 

[Chappi]

I look at cheap coins on the market and see if they're being talked about in forums.
Can that be called a strategy lol

That’s part of my strategy.

If you’re into crypto and dont know what steemit is then google it right now. That’s where I get a lot of good info, some u tube channels are good too. Check out coinmarketcap.com if you havent already, lots of good data on there. Learn “technical analysis basics” teaches you where to find bottoming patterns, moving averages, candle patters and all that basic stuff. It’s basically dow theory.

Takes a lot more than guessing to be a good trader but like I said I’m not looking to day trade, just putting a small amount of money, that if I lost wouldnt change my life, into ico’s that may survive the coming correction(I see a big one coming) and be extremely profitable(hopefully) in 2-3 years. Until then I’ll continue to HODL!

 

[Rox]

Amazon, eBay and PayPal are looking at bitcoin for future payments... When that happens things will really take off

 

[Douglas.Curtis]

As long as they can get the tx fees down, and fix the scaling issues with the network. Bitcoin is maxxed out at what 7 transactions a second? Visa is 24,000txs/s. In comparison, BitShares is able to easily run 100,000txs/s since it's code is based off code capable of 6 million txs/s.

Bitshares, at full implementation speeds, confirms in 1 second. That's pretty crazy and makes bitcoin look like a slow turtle in comparison. BTC is going to get worse as more people use it, until coding changes fix it. I wish them luck.

Save​

 

[Douglas.Curtis]

Watch for sites which hog your CPU/GPU, a lot of them are hijacking your browser to mine coins.

 

[Chappi]

Lightning network is supposed to solve a lot of the issues with BTC.

The name “BITCOIN” is a cash cow. Everyone has heard of it and when money managers are asked to invest large sums of money into crypto where do you think that money is going?

 

[Chevy cHaze]

Bitcoin is the poster boy right now, but we all know it's nothing more than a means of storing value and therefore the retarded kid in crypto class.
Also, most of the more developed blockchains, like ethereum, don't even have real life uses for the possibilities they offer...tronix, raiden,wepower all the tokens doing what they're supposed to for (at least parts of) the mainstream will see these currencies rise again soon hopefully. Just thought I'd mention that as my portfolio has crumbled to around 50% of what it was 2 weeks ago hahaha.

 

[Douglas.Curtis]

Lightning network is supposed to solve a lot of the issues with BTC.

Emphasis on "supposed to," since (again) it's a sidechain tech. The only real world way to do this (that I see), would be for the Lightning network to acquire and set aside enough BTC to cover all their "supafast" transactions. Without an actual reserve, double spending becomes a distinct possibility.

That'd be a LOT of BTC to pick up first. Then, if/when BTC changes their confirmation code (and their network becomes lightning fast), what use is the sidechain now?

 

[Chappi]

We had a huge profit take recently, I saw the overall market cap go from 800billion to around 650billion. It seems to have bottomed out. Added to some positions and started one more. Wish me luck.

 

[EasyGoing]

Bitcoin is the poster boy right now, but we all know it's nothing more than a means of storing value and therefore the retarded kid in crypto class.
Also, most of the more developed blockchains, like ethereum, don't even have real life uses for the possibilities they offer...tronix, raiden,wepower all the tokens doing what they're supposed to for (at least parts of) the mainstream will see these currencies rise again soon hopefully. Just thought I'd mention that as my portfolio has crumbled to around 50% of what it was 2 weeks ago hahaha.

Not true at all. Ether has many uses. It's like an app store, many platforms are being built of Ether.

 

[GMT]

Hmmm

Hmmm

I look at cheap coins on the market and see if they're being talked about in forums.
Can that be called a strategy lol

Well I suppose it would be for long term investing but there are problems with it for short term gambling. It relies on everyone else doing the same research an hour or two later than you did yours and coming to the same conclusions that you did. If they do it before you, then your gamble drives their profit rather than the other way around. If they don't do it, you get no benefit from it, same goes if they come to a diff conclusion.
By strategy I mean a way of reducing your losses during a fall. Of course it also reduces your profits during a rise.
The one I adopted allows for the market to move against me by 27% and only lose 14%. The gamble then only needs to recover by 16% to break even. If it recovers back to its starting point, I make 18%. Of course when it falls more than I allow for, I'm still out of pocket and if it riss straight away I make less than I could have.
But in a market where most coins go up and down, it seems the only way for me not to lose my shirt.
I was up 80%, now only up 50% and waiting for the rise again. But then 3weeks ago, this game was unknown to me, and I had to start from confusion. A helping hand from the bitcoin angels got me started and going, but it took a while to figure out how to play the game properly.

 

[Chappi]

I’m scared lol not gonna look at the market tonight.

 

[GMT]

Lol yeah I just logged out, it's a war zone right now, I'm too afraid to watch my poor cash getting torn appart. I'll take a look later and see what survived. I watched eth fall 10% in 10 mins, and 75% of my cash is in there right now.

 

[Chappi]

I think it’s a bear trap. You can see the trend line broke for the second time. Hopefully it bounces like the previous time.

Basically scares the shit out of people lol

 

[Kalbhairav]

History generally repeats itself..

Anyone who's trading right now should have sell orders set up on their swing trades so they don't end up hemorrhaging money overnight etc.

If you're looking to add to a position then you'll have to be able to get good at knowing what the lowest point of sale is likely to be. Only keep your long positions where you bought in low enough for profits never to be cut. If you don't have a position like this you need to consolidate.

Consolidate your coin into one of the strong players who can hold off a market drop and wait. I hate to say it but Bitcoin will start to take off at some point. I just hope it isn't going to go back to 10k before we see that.

 

[ganjygav]

I just looked on the exchange. All I saw was red haha. I bet there's some panic.

 

[ganjygav]

It's sout Korean government at it again. I'm sure they're manipulating the market prices just before they jump in to maximise profit.
I read they're showing interest in ripple. Imagine how the prices would go up if in a few months time the south Korean government actually made a big investment in ripple after bringing all the other currencies to a tumble.
Wouldn't that's make ripple the big boy and leave bitcoin struggling to recover?

 

[GMT]

Panic, I just woke and checked in, the horror, the horror!