Bitcoin to buy Alt Coin | Bitcointalksearch.org

Bloody Mary

full member

Activity: 154

Merit: 100

Quote from: Peter Murr on November 29, 2017, 02:29:34 PM

Have anyone already checked https://mytc.io/ ? If I understand it correctly I could get tokens just cooperating with their sponsors. Like cashback or I don’t know. But the main idea is great.
Is it safe?

Im sure that its not scam.advisors are really seriuos and actually the main idea deserves future

Peter Murr

member

Activity: 112

Merit: 10

Have anyone already checked https://mytc.io/ ? If I understand it correctly I could get tokens just cooperating with their sponsors. Like cashback or I don’t know. But the main idea is great.
Is it safe?

Uniopp

newbie

Activity: 4

Merit: 0

Thanks Triple (and everyone else)!
It’s starting to make more sense!!
Leaving it in the same alt currency makes perfect sense and Bitcoin fluctuations are irrelevant. That I now see!!
The part about having $200 more in Bitcoin than when I started kind of makes sense but once I convert the alt back to Bitcoin won’t that rate be the deciding factor in profit or loss and determine if it was all worth it or not? I assume the Bitcoin to Ripple rate is always changing.

Triple

hero member

Activity: 847

Merit: 500

Quote from: Uniopp on November 29, 2017, 08:18:52 AM

So when calculating my actual profit/loss in relation to my initial investment, I need to calculate the alt coin value AND THE BITCOIN value to arrive at the actual result of my investment.
Still not sure if I get it?
If I use Bitcoin to buy Ripple and made the equivalent of US$200 in the very short term (e.g day trading) that could be wiped out in seconds with the normal fluctuations of BITCOIN?
Why bother trading the alt coins?

Because decline in Bitcoin prices won't wipe out your profits? If you keep your balance in the Alt-Coin currency, why would any decline in Bitcoin have any effect on your profits? Only if you transfer the Alt-Coin back to BTC are you affected by BTC prices. I'm not really sure what you're not seeing. How could fluctuation in BTC prices wipe out any profits from Atl-Coin investments?

Say in your case you made $200 trading AltCoin, and trade it back to BTC. You will have $200 more in BTC than before. Even if the prices fluctuate, your $200 profit is still there.

Uniopp

newbie

Activity: 4

Merit: 0

So when calculating my actual profit/loss in relation to my initial investment, I need to calculate the alt coin value AND THE BITCOIN value to arrive at the actual result of my investment.
Still not sure if I get it?
If I use Bitcoin to buy Ripple and made the equivalent of US$200 in the very short term (e.g day trading) that could be wiped out in seconds with the normal fluctuations of BITCOIN?
Why bother trading the alt coins?

Triple

hero member

Activity: 847

Merit: 500

Quote from: Uniopp on November 29, 2017, 07:41:10 AM

So what I can’t understand is -
Why invest in alt coins if any decline in Bitcoin will wipe out my alt coin profit?
What am I missing?
Thanks

It's not really investing 'twice.' Alt coins are a market of its own. Sometimes, when BTC prices decrease, other alt-coins are increasing in value. Also, Atl-Coins sometimes have a much higher ROI than BTC. Some altcoins go up 50-60% in 2-3 days and BTC can't handle that much growth anymore.

Also, some people are trying to find the next BTC, thinking it will make them rich quick. I don't blame them. There are coins out there that have better technology that tackles the problems that BTC has. Take ETH for example. They tackled the problem of slow confirmations and high fee amount that BTC has. So yeah, it's not really investing twice. Just people being smart with their money.

mk4

legendary

Activity: 2870

Merit: 3873

Paldo.io 🤖

Quote from: Uniopp on November 29, 2017, 07:41:10 AM

So what I can’t understand is -
Why invest in alt coins if any decline in Bitcoin will wipe out my alt coin profit?
What am I missing?
Thanks

It's not guaranteed for altcoins to go down if bitcoin would to decline. There has been past instances whereas bitcoin was slowly dropping whereas altcoins were rising. Also, prices of altcoins decline when bitcoin declines is because the trading pair is usually BTC:altcoin and not USD:altcoin.

HabBear

hero member

Activity: 1106

Merit: 638

Quote from: Uniopp on November 29, 2017, 07:41:10 AM

So what I can’t understand is -
Why invest in alt coins if any decline in Bitcoin will wipe out my alt coin profit?
What am I missing?
Thanks

Many exchanges dont allow you to hold USD of fiat. So if you sold Bitcoin for USD ((while waiting for another trading cycle) you'd have to take a deposit to your fiat bank account. This transaction process takes days to clear since you're now leavinga blockchain supported currency.

Moving funds to a stable alt (or to Bitcoin from an alt) is significantly faster and keeps you in the game for future trades.

Uniopp

newbie

Activity: 4

Merit: 0

So what I can’t understand is -
Why invest in alt coins if any decline in Bitcoin will wipe out my alt coin profit?
What am I missing?
Thanks

mk4

legendary

Activity: 2870

Merit: 3873

Paldo.io 🤖

You simply just can't buy most altcoins with USD. You can only use USD to buy most of the top coins. Let's take Bittrex(one of the most famous exchanges as of today) as an example. You currently can only trade USD with these coins, and these coins only:

Uniopp

newbie

Activity: 4

Merit: 0

Can someone explain why most people use Bitcoin to buy other alt coins rather than converting back to $. I understand for tax, price fluctuations, wanting to only use cyptocurrency, etc.
But doesn’t it mean I am actually investing twice? Rise or fall of alt coin and rise and fall of Bitcoin. If I make make a profit out of my alt coin but the Bitcoin price falls I have lost my profit.
An explanation in simple terms would be much appreciated.
Thank you.

Topic: Bitcoin to buy Alt Coin (Read 227 times)