Bitcoin Thread

Status
Not open for further replies.
Bought some more here, purely because I had some spare cash.

I dont have the energy for this market, every indicator I've used previously says not to buy now and wait until a confirmed turn...but I just can't be arsed anymore to follow that...its tiring.
 
Cicero said:
Bought some more here, purely because I had some spare cash.

I dont have the energy for this market, every indicator I've used previously says not to buy now and wait until a confirmed turn...but I just can't be arsed anymore to follow that...its tiring.
Click to expand...

I have made peace with it that I will never get the exact bottom or top. Have started buying again in small bits with Fiat, haven't done that in almost a year. Taking little bites and then waiting to see what happens. Adding little bits as we go down. If I see a good rally, will sell some that I am in profit with, then buying again as it drops. Think I will do this while there is still a confirmed down-trend. Hoping to be able to accumulate at a lowish price overall, waiting for the next bull-run.

Besides that, I Fortunately have a number of coins staking and MasterNodes churning away to increase my alts-stacks. Also waiting for the next bull-run.

Those dang Bulls better not disappoint when they eventually make their return :D
 
saor said:
While I can't wait to get back to alts and trade longer timeframes, trading BTC with all this volatility has been a good lesson in where to stop-loss and avoid being stopped out. A few times I've placed stop-losses on decent support only to be stopped out and see the price bounce. It's usually the case that a willingness to incur a slightly greater % loss will prevent being stopped out and be in for the bounce. That said I still prefer the weekly / monthly trading where there's usually more freefall space between major support lines where stop-losses can be placed.

The cool thing about being out of alts and trading BTC is I'm forced to trade a market and conditions I wouldn't usually participate in - been a fun learning experience.
Click to expand...

I'm on Luno so no stop loss. Looking back though I probably would have lost more money using stop losses because the price bounces around, breaking through resistance and returning so often. Then again I'm watching the price action nearly all the time on the side so I can make a decision to get out or not before it completely tanks.

I've also moved away from day trading and instead now look for the bigger moves around +5%. So my 30 day trading volume is the lowest it's been since I started in November. Currently 5 times lower trading volume than 2 months ago. Patterns/fractals also seem to be a much better predictor than indicators. If say 4 moves are lining up versus a previous time, the 5th move will have good probability of being similar.
 
Last edited:
[video=youtube_share;j_T54pEnelU]https://youtu.be/j_T54pEnelU[/video]
 
I had the general idea so far. Just needs to go up in the next 24 hours or so.

By the way, the Rand is also mooning. Weakened almost 3% today and R14 might break tonight.

CRgJLWrv
 
Boggles the mind, a lot of effort went into that.

Bitconnnnneeeeeeeeeeeeeeeeeeeeeeect
 
Sideways for days.
Keeps on looking like it's gonna do something then...nothing.
I'd be quite happy for this to be the bottom and sideways for a few more days.
 
saor said:
Sideways for days.
Keeps on looking like it's gonna do something then...nothing.
I'd be quite happy for this to be the bottom and sideways for a few more days.
Click to expand...

Yep. I bought 6 days ago and it hasn't done much since then so no trading. Went down to $5800/$5900 on Sunday but only for 12 hours and then back to $6100 area.
 
SaiyanZ said:
Yep. I bought 6 days ago and it hasn't done much since then so no trading. Went down to $5800/$5900 on Sunday but only for 12 hours and then back to $6100 area.
Click to expand...
Red candle yesterday triggered a BTC sell for me.
So wouldn't mind a drop back down again.

candle.png
 
saor said:
Red candle yesterday triggered a BTC sell for me.
So wouldn't mind a drop back down again.
Click to expand...

Not sure if it will drop too much in the short term (next week). Bulls showed their hand too early with the $400 pump as soon as it dropped below $5800. So everyone now knows that there's lots of buyers waiting down below.
 
Use it, don't use it:

Check out Minexpay dot com - new VISA Crypto Debit Card you can load with a number of crypto's as well as fiat. Apparently gets around any issues VISA has had in the past with other crypto Debit Cards (like TenX that had issues earlier this year).

Full disclosure - yes, I own MNX coins :)
 
Last edited:
balrog said:
Use it, don't use it:

Check out Minexpay dot com - new VISA Crypto Debit Card you can load with a number of crypto's as well as fiat. Apparently gets around any issues VISA has had in the past with other crypto Debit Cards (like TenX that had issues earlier this year).

Full disclosure - yes, I own MNX coins :)
Click to expand...

Do you mean it can be used everywhere in the same way a visa is or are the payments made in crypto so it has to be at a place that accepts that crypto?
 
L10Yn said:
Do you mean it can be used everywhere in the same way a visa is or are the payments made in crypto so it has to be at a place that accepts that crypto?
Click to expand...

As per your first statement. You can use it anywhere VISA is accepted, no accepting store need to know anything about crypto. As I understand it, the conversion from crypto to pay the store, is done on the back-end. To the store, it looks just like any other VISA card.

You can also withdraw fiat from ATM's like any VISA card.

You can fund the card (deposit into it) with crypto or fiat. Thus R1000 or 2 ETH or 0.5 BTC, however you wish. Lowest fees when you use the MNX tokens.

You must do KYC (Know Your Customer) though - so you will have to send docs to prove your identity, when applying for the card.
 
Last edited:
balrog said:
As per your first statement. You can use it anywhere VISA is accepted, no accepting store need to know anything about crypto. As I understand it, the conversion from crypto to pay the store, is done on the back-end. To the store, it looks just like any other VISA card.

You can fund the card (deposit into it) with crypto or fiat. Thus R1000 or 2 ETH or 0.5 BTC, however you wish. Lowest fees when you use the MNX tokens.

You must do KYC (Know Your Customer) though - so you will have to send docs to prove your identity, when applying for the card.
Click to expand...

Thanks for the info. Seems like a good way around the tax issue when converting crypto to fiat then atm, yes?
 
L10Yn said:
Thanks for the info. Seems like a good way around the tax issue when converting crypto to fiat then atm, yes?
Click to expand...

I can't comment on that :)

If you do the KYC though - pretty sure mr Taxman will know about it.

Never break the law :)
 
balrog said:
I can't comment on that :)

If you do the KYC though - pretty sure mr Taxman will know about it.

Never break the law :)
Click to expand...

It's not really breaking the law if you don't actually convert it from crypto to fiat though and buy something with crypto, is it? I guess in this case it does actually do the conversion first.
 
Status
Not open for further replies.
Back
Top
Sign up to the MyBroadband newsletter
X