The Bitcoin Thread

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Mier said:
Respect to the HODLers, but I'm folding...for now.

My profits will allow me to do an extension to my house with cash. If it drops further, that won't be the case, so I set myself a limit of how much profit I can sacrifice waiting for the tide to turn.
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Just remember to put enough away (maybe in your Bond) for when the taxman cometh.
 
saor said:
Not really sure what you mean by 'same direction'? ADA went from $0.02 to $0.5 in under two months.
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I mean that they all go up at the same time and they both go down at the same time. Of course the extent of the losses and gains are different but they defeat the whole point of diversification.
 
rza said:
Is there a point in diversifying when they all move in the same direction?
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Depends on which coins you hold.

My darlings are NEO and MNX at the moment - generates passive income. MNX is my favourite, I split my holdings between ongoing Weekly and Monthly payouts, and MNX has been extremely stable in this BTC bear market.

NEO obviously generates GAS, but MNX outperforms those returns by a number of factors.
 
balrog said:
Depends on which coins you hold.

My darlings are NEO and MNX at the moment - generates passive income. MNX is my favourite, I split my holdings between ongoing Weekly and Monthly payouts, and MNX has been extremely stable in this BTC bear market.

NEO obviously generates GAS, but MNX outperforms those returns by a number of factors.
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Good point.
 
Looks like we won't go too far below $10k if we do. There's people with massive buy orders coming in one after the other on Bitfinex when it gets close to $10k. 1000BTC wall was eaten through at $10k and a few minutes afterwards another buy wall comes up.
 
SaiyanZ said:
Looks like we won't go too far below $10k if we do. There's people with massive buy orders coming in one after the other on Bitfinex when it gets close to $10k. 1000BTC wall was eaten through at $10k and a few minutes afterwards another buy wall comes up.
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Eish, the BTC whales are just getting fatter. Or it is JP Morgan - hahahaa!!!! :)
 
balrog said:
Depends on which coins you hold.

My darlings are NEO and MNX at the moment - generates passive income. MNX is my favourite, I split my holdings between ongoing Weekly and Monthly payouts, and MNX has been extremely stable in this BTC bear market.

NEO obviously generates GAS, but MNX outperforms those returns by a number of factors.
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are you holding MNX on livecoin?
 
SaiyanZ said:
Looks like we won't go too far below $10k if we do. There's people with massive buy orders coming in one after the other on Bitfinex when it gets close to $10k. 1000BTC wall was eaten through at $10k and a few minutes afterwards another buy wall comes up.
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there are combined total buy orders for about 100 million dollars at 8k...

thats the real target it think...
 
terencej said:
I think this is going to byte a lot of people come tax season
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I think so too.

I am trying to not take too much profit out in this tax year, since SRAS says they are working on new tax laws for crypto, which I assume will come into effect 1 March 2018. They can't be worse than paying tax at my current income tax rate (I hope!). I won't get away with CGT - if SARS gets the records from Luno (which I am pretty sure, is safe to assume), they will see that I bought and sold (speculated), so I will just have to put away my full tax for when I have to pay. Fortunately it can save me quite a lot of interest on my bond while it sits there...
 
Zulfi said:
are you holding MNX on livecoin?
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You can purchase them on Livecoin. Then you move them to your wallet, create a new address, sign it, and move the coins there. Then you can Park (and earn interest) on the MNX coins via the Minexbank.com web interface. Sounds complicated, but just follow the instructions, and you only have to do it once.

Your coins always remain in your wallet while parking and earning interest. It is not the same as staking though.
 
balrog said:
I think so too.

I am trying to not take too much profit out in this tax year, since SRAS says they are working on new tax laws for crypto, which I assume will come into effect 1 March 2018. They can't be worse than paying tax at my current income tax rate (I hope!). I won't get away with CGT - if SARS gets the records from Luno (which I am pretty sure, is safe to assume), they will see that I bought and sold (speculated), so I will just have to put away my full tax for when I have to pay. Fortunately it can save me quite a lot of interest on my bond while it sits there...
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I'll start withdrawing after I reach my profit goals. Anything above I will withdraw every week as profit. Day-trading with large amounts on Luno is not really possible because of the low volumes. I'm already not making use of most of my holdings in trades. So will just keep enough for trading on Luno.
 
SaiyanZ said:
I'll start withdrawing after I reach my profit goals. Anything above I will withdraw every week as profit. Day-trading with large amounts on Luno is not really possible because of the low volumes. I'm already not making use of most of my holdings in trades. So will just keep enough for trading on Luno.
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Yeah, agreed, I gave up trading on Luno due to the low volumes. I only trade on other exchanges, against alts now. Bittrex, KuCoin, Cryptopia, Livecoin, Poloniex etc.
 
balrog said:
You can purchase them on Livecoin. Then you move them to your wallet, create a new address, sign it, and move the coins there. Then you can Park (and earn interest) on the MNX coins via the Minexbank.com web interface. Sounds complicated, but just follow the instructions, and you only have to do it once.

Your coins always remain in your wallet while parking and earning interest. It is not the same as staking though.
Click to expand...

https://www.youtube.com/watch?v=9acu4Or2uAk&t=1790s

Watch from 7.34, explains how to do it.

Think I might do it also.
 
Some good news out of S. Korea and BitFlyer positive news. Things could maybe start bottoming out here...
 
Tomorrow should be last day of cheap btc, mooning by weekend:D
 
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