Bitcoin Thread

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HavocXphere said:
Yeah its a tricky proposition. For that 10x to be life changing you need to throw serious coin in it. Yet these things are inherently prone to go to zero most of the time so yeah...
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In a Bull Market and like i said proper research into the coin, unlikely to hit 0. It can happen for sure, but its getting harder and harder to trick the masses. Happened lately i do know. A rug pull on Binance (I think)...

But $500 to $ 5000, move the profits into another coin, make some, move into another...forget sentiment and emotion...focus of the money (DYOR, I say again). and that $500 can be life changing in a year...oh my word....i sound like a ponzi scheme, shoot me now. haha
 
kickin_da_habit said:
In a Bull Market and like i said proper research into the coin, unlikely to hit 0.
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Strongly disagree. As Saor says there are dozens if not 100s of new coins being started daily. Hell I've got the ability to do so in like an hour.

...the vast majority of those will crash & burn
 
Anyway i am not trying to sell the idea. I wanna know if anyone has tried this? Full time traders? People who have the time to trade?
 
kickin_da_habit said:
But $500 to $ 5000, move the profits into another coin, make some, move into another...forget sentiment and emotion...focus of the money (DYOR, I say again). and that $500 can be life changing in a year...oh my word....i sound like a ponzi scheme, shoot me now. haha
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You forgot to mention the part where you also lose money.
 
saor said:
You forgot to mention the part where you also lose money.
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I did mention about losing money. Stake 8 at $100...7 fail (very unlikely of course cos of DYOR) and 1 hits 10X you still made profit...

"half may fail (but as you can read, usually they don't if you did the right research before you staked into them) but only 1 needs to hit 10X and you made major profit? and what about the other 7 then"
 
HavocXphere said:
Yeah its a tricky proposition. For that 10x to be life changing you need to throw serious coin in it. Yet these things are inherently prone to go to zero most of the time so yeah...
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IMO these are just like the yellow sheet equities. They are great fun if you only throw small amounts that are absolutely throw away money and then do not fall in love of any one of the investments. Like the guys who peddle them, the story is in early, out early; no greed, no fear, just playing a game.

[Of course, what is throw away money depends on your place in the pond. In my case it has to be the $100 mark or less. Of course, for some folks (e.g. Cheri Marks hahaha) it probably is around btc1000!]
 
kickin_da_habit said:
"half may fail (but as you can read, usually they don't if you did the right research before you staked into them) but only 1 needs to hit 10X and you made major profit? and what about the other 7 then"
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Most people who play this game end up with a majority of losing trades. Yes, you might get a magical few that 2x, 5x, 10x...but then weigh that against your losses. Your net profit isn't 10x, it's only really 2x, or 80% or whatever. That's if you're lucky enough to hit on the few that are going to increase enough to leave you with a net profit.

At that point I'd rather just trade on a larger exchange with enough liquidity to ensure my ass is covered on the downside and take reasonable profit on the upside. To me that's a less risky game than trying to find extremely low cap coins that are gonna pump on low volume because someone on the internet shilled it on their list of coins to buy. 95% of that advice is there to help drive up the price of whatever they're trying to pump.

Obviously there's money to be made, but in the end I still prefer trading.
 
Wary GOM said:
IMO these are just like the yellow sheet equities. They are great fun if you only throw small amounts that are absolutely throw away money and then do not fall in love of any one of the investments. Like the guys who peddle them, the story is in early, out early; no greed, no fear, just playing a game.

[Of course, what is throw away money depends on your place in the pond. In my case it has to be the $100 mark or less. Of course, for some folks (e.g. Cheri Marks hahaha) it probably is around btc1000!]
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That's exactly the strategy i wanna follow, just play the game. No sentiment or emotion. In and out grab and go. Its an educated guess at best but isn't that what all traders do, educated guesses?
 
saor said:
Most people who play this game end up with a majority of losing trades. Yes, you might get a magical few that 2x, 5x, 10x...but then weigh that against your losses. Your net profit isn't 10x, it's only really 2x, or 80% or whatever. That's if you're lucky enough to hit on the few that are going to increase enough to leave you with a net profit.

At that point I'd rather just trade on a larger exchange with enough liquidity to ensure my ass is covered on the downside and take reasonable profit on the upside. To me that's a less risky game than trying to find extremely low cap coins that are gonna pump on low volume because someone on the internet shilled it on their list of coins to buy. 95% of that advice is there to help drive up the price of whatever they're trying to pump.

Obviously there's money to be made, but in the end I still prefer trading.
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Absolutely right on all counts. Thanks for the advice. Let me give it a whirl and see what happens.
Already have some play money from the trades i've done in the past few weeks so lets see if the theory is sound or I'm a complete fool...but don't worry I'm not about to quit my day job just yet. haha
 
kickin_da_habit said:
Absolutely right on all counts. Thanks for the advice. Let me give it a whirl and see what happens.
Already have some play money from the trades i've done in the past few weeks so lets see if the theory is sound or I'm a complete fool...but don't worry I'm not about to quit my day job just yet. haha
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Will be interesting to see your results. Might be worth starting a thread about it at some point.
 
kickin_da_habit said:
Absolutely right on all counts. Thanks for the advice. Let me give it a whirl and see what happens.
Already have some play money from the trades i've done in the past few weeks so lets see if the theory is sound or I'm a complete fool...but don't worry I'm not about to quit my day job just yet. haha
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Any tips for someone planning to jump into trading?
 
Snyper564 said:
Stop just trying to jump into it... You are going to get burnt
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thanks. I am just preparing not jumping in right now. It looks a bit scary to be honest.
how long did you wait before you started trading if I may ask?
 
s898 said:
thanks. I am just preparing not jumping in right now. It looks a bit scary to be honest.
how long did you wait before you started trading if I may ask?
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I have been in this for years, 2016/2017 if I remember correctly. This is an incredibly volatile high risk space. Just be careful binance actually offers alot of beginner trading classes etc. Maybe pop over to their Facebook page please ensure you are on tthe official binance sa page and not a scam page or something.
 
s898 said:
Any tips for someone planning to jump into trading?
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There is tons of info out there. Watch lots of youtube vids (from credible guys in crypto) and also read as much as possible. Don't delve too deeply into 1 subject like which exchange to use (there are many). Choose 1, go for it. Binance is nice and easy and they have lots of beginner classes to learn about the platform and how to trade and what to trade, etc.
I only trade crypto so choose 1 specific thing and learn only about that.
Crypto is nice and easy compared...and lots of money to be made.

What i do is instead of doing your research first...watch other guys (youtube again) do the research (confirm when another person might do the same research), then verify the research yourself and then buy something...
Start small and make sure its money you can lose, just in case...

Will send more info as i think about more...
 
Snyper564 said:
Stop just trying to jump into it... You are going to get burnt
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Don't scare the guy man. Jump into it. Small trades to practice.
In fact do the research. Decide what to buy. Don't buy. Just watch what happens to the trade you were gonna buy and see how well you predicted.
Testing the waters...
Also watch the media...read up about the price predictions from 1 year ago and see where it is now.
Read from 6 months ago, see now.
Read from 3 months ago, see now.

Gives you an idea about predictions and the research about why it was gonna rise and if it did...
 
kickin_da_habit said:
There is tons of info out there. Watch lots of youtube vids (from credible guys in crypto) and also read as much as possible. Don't delve too deeply into 1 subject like which exchange to use (there are many). Choose 1, go for it. Binance is nice and easy and they have lots of beginner classes to learn about the platform and how to trade and what to trade, etc.
I only trade crypto so choose 1 specific thing and learn only about that.
Crypto is nice and easy compared...and lots of money to be made.

What i do is instead of doing your research first...watch other guys (youtube again) do the research (confirm when another person might do the same research), then verify the research yourself and then buy something...
Start small and make sure its money you can lose, just in case...

Will send more info as i think about more...
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thanks a lot for the tips. much appreciated.. always nice to hear from people who are already in the game.
 
s898 said:
Any tips for someone planning to jump into trading?
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Don't trade. First read a few books on trading. Honestly I wouldn't advise my own family to buy crypto now because yes, BTC might go to $100K in a couple of months, or it could have just peaked already and they'd end up selling on one of the big dips on the way down, lose half and blame me.

Only if you believe in the tech and that BTC could rival gold as the international store of value and hedge against inflation, then buy and hodl long term. Otherwise just invest what you can afford to lose and take profits out. I haven't cashed out any BTC since 2017 and it was a REALLY rough few years. Many sleepless nights. Very important to take some profits in stable coins for buying the 20%+ dips.
 
Sensorei said:
Don't trade. First read a few books on trading. Honestly I wouldn't advise my own family to buy crypto now because yes, BTC might go to $100K in a couple of months, or it could have just peaked already and they'd end up selling on one of the big dips on the way down, lose half and blame me.

Only if you believe in the tech and that BTC could rival gold as the international store of value and hedge against inflation, then buy and hodl long term. Otherwise just invest what you can afford to lose and take profits out. I haven't cashed out any BTC since 2017 and it was a REALLY rough few years. Many sleepless nights. Very important to take some profits in stable coins for buying the 20%+ dips.
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