Topic: The Bullish Bitcoin Media Center (The ONLY Bullish Bitcoin News Thread) - page 137. (Read 259656 times)

I found out the hard way in order to trade any crypto and/or currency pairs, you MUST be "on call" 24 hours a day!  What I mean by that is the following:  You MUST set alarms for whatever crypto or currency pairs you trade.  Your alarms will be set for points NEAR entry or NEAR exit.  Your alarm can sound at anytime, even while sleeping.  When sleeping is the worst    but I deal with it.

Features I like on BitFinex are the ability to make the following orders:  Limit order, Market order, Stop order, Trailing Stop order and Fill or Kill order.  This takes alarms out to a certain extent but I still like to create alarms as a precaution.  I also like the ability to "HIDE" your order so it does not appear on the order book for all to see and make decisions that could affect your position since you have "exposed" your position.  Especially, if your position is a large order.

I've also found tradingview.com to be a valuable tool when making decisions for trades.  There is a wealth of information on tradingview.com.  I love the chat box to talk to serious traders about trading.  You can "follow" traders with high ratings from other members, look at their charts they publish for all to see with ideas explaining their position on the charts, etc...  If you choose to sign up at tradingview.com, my username is ProwdClown.

Very good analogy, never thought about it that way.

Cool.  That kind of eases my concern about my own ignorance with leverage.  I just don't think I can handle the stress.  Dealing with pump and dump schemes is stressful enough by themselves without leverage.  There was all kind of shorting going on during our climb up with LTC last year at its halving.  I was one of those shorting it on the way up.  I remember dumping EVERYTHING several times and getting back in on the dip as we climbed upwards.

When it began dumping hard, it looked like a potential short again at first in the beginning of the dump.  I had approximately 120 BTC when I dumped with it.  Bought back in on the dip and it dumped hard again, then again.  I was getting burned and losing BTC.  That's when I said, "enough... it's over."  Sure enough the climb upwards was over and settled with 110 BTC.

I don't feel I would be as level headed with leverage.  I would probably be too cautious as well and get out too soon or get in too late.

I tell people all the time who play poker, "You cannot play the way you NEED to play in a cash game if you are not COMFORTABLE with the amount you have sat at the table with.  If you are not comfortable with losing $1,000, you have no business buying in for that much cause you will be too protective of your stack and less likely to bluff when you need to in order to take down a pot, etc..."  

One cannot play poker the way it should be played if they are fearful of losing what they bought in with.  It's best to be comfortable with what you bought in with before one can be comfortable with playing poker the way it should be played.  I believe the same applies to trading.

Lol good plan. I have only tried it a few times. Each time it freaked me out when a small movement happened and I pulled out.

All in all I think my profits stand at .01 from margin trading

To be honest.  I'm scared as hell of leverage.  I've never used it.  Totally ignorant of it.

EDIT:  I don't like the sound of owing someone money if I mess up.

Or try something like okcoin, bitfinex, kraken, that give you the option to use Leverage your stash 3x-10x

Thumbs up...

I sold my 2,300 ETH (approximately 64 BTC worth at 0.0268xx to 0.0275xx + trading fees when purchased on BitFinex) earlier today when I saw it coming back down.  I sold it a tad higher than what I bought it for and managed to only lose 0.2 BTC because of fees.  Also, when I said I'm officially 52/48 in BTC/ETH, that was only on BitFinex.  I also have and trade Bitcoin on Coinbase and BTC-e.  I don't keep all of my eggs in one basket in case one of the exchanges I trade on get hacked.  So, I was 52%/48% into it for trading purposes to make gains and not for any thoughts of it being a legitimate player in crypto.  Not enough time has passed to convince me of that.

Also, when I said 52%/48%, that was not percentage of what I have available to invest.  That was only what I had on BitFinex.  I initially had 130.2 Bitcoin on BitFinex.  I purchased ETH [Only with funds on BitFinex] at prices ranging from 0.0268xx to 0.0277xx for a total of 64.2 BTC worth that included fees.  That left me 66 BTC on BitFinex.  I have approximately the same amount on Coinbase and half that amount on BTC-e.  The reason I have half that amount on BTC-e is because it's harder to sell larger amounts on BTC-e than it is on BitFinex and CoinBase.  100 BTC is chump change on BitFinex but considered a damn wall on BTC-e.  If we were to consider all of my holdings in various places, I'm 40% crypto (All BTC at the moment; I did have some ETH for approximately 10 hours), 8% silver, 15% gold and the rest in FIAT.  I don't trade any stocks but I probably should.  Wish I had bought stock in Amazon this time last year for instance.

You might consider my investment of 40% of my available funds in crypto as ludicrous.  I'm not sure.  I know some people think I'm crazy.  However, I'm CRAZY about bitcoin.  I even mine bitcoin.  I used to mine it rather seriously for a home miner.  I have 400A service at my house.  I had 41 x S7's in my house at one time.  Now, I only have 6 x S7's.  I sold the rest on eBay the second week of March at approximately $820 each on average not including eBay and PayPal fees.  The buyers paid for shipping.  I absolutely LOVE Bitcoin.  I always will as long as it's alive and kicking.  I'm all in [so to speak] with everything bitcoin stands for!  It's part of my being.  My wife is witness to that.  She cannot keep me quiet about it around friends and family.  lol

I'm like you as far as the creators and investors of ETH being the ones who are propping it up to get it primed for a pump and dump.  I'm all about pump and dumps.  I turned 36 BTC into 110 BTC on the pump and dump scheme we had with LTC between April and June of 2015.  If that's what they are really up to with this coin to make some relatively quick money, so be it.  I'm going to try to capitalize from it from beginning to end just as I did with LTC.

I totally agree with you about the centralization of ETH and decentralization of BTC.  BTC still rules in my play book and nothing else comes close yet.  ETH has a lot to prove to convince me it can be a real player in crypto.  In the meantime, I'm going to do all I can to create gains via trading ETH/BTC and ETH/USD.  It's that simple.  I personally believe it offers an excellent opportunity to make some extra BTC.  I have a friend I chat with all the time on tradingview.com who already doubled the amount of BTC he put into ETH a couple of weeks ago and is buying another new car this week.  I told him I'm not messing with it at the time.  I wish NOW I had listened to him.  I could of had approximately 194 BTC on BitFinex right now instead of 130 if I had invested half of my BTC on BitFinex a couple of weeks ago instead of delaying until today.

The main purpose of my posting the article here was to get opinions about whether or not ETH can be a real player in crypto.  I'm a noob when it comes to ETH, DAO's and how it all works down to itty bitty details.

Thanks for sharing and not holding back your opinion and thanks for not cursing me out for sharing the article to gain opinions.  Much appreciated!

As I told a previous member of the forum, Fakhoury, asked for my thoughts about ETH and DAO's in a PM a couple of days ago; if I thought it was a threat to BTC, etc...  I shared what little I knew about ETH at the time.  I ran across this article today on tradingview.com and decided I would share it with him.  After further consideration, I decided to share it with the entire forum.  Not to defame bitcoin or prop up ETH.  It was simply to get insight from others who might know more.  I purchased it solely with the intent to make gains in trading.  Not because I believe it's a serious player in crypto.  It will take several years to convince me of that.

I can see where others might misconstrue my statement about 52/48 BTC/ETH into thinking I believe ETH is a serious player in crypto.  However, I assure you, that's NOT the case at all.  I was saying that in terms of "trading" not "confidence" towards ETH.  I by no means am confident about the near future of ETH as I am about BTC.  However, I am confident about the opportunity to make some extra BTC by trading ETH.

Kind regards,

David

Dude, I was NOT posting it to defame BTC in any shape or form.  NOT in the least!

I was not posting it to prop up ETH either.

It was only posted to see what others opinions were on the damn thing.  That's it...

ETH is new to me as well.  Simply wanted opinions and that's all.  If Fakhoury wants it down, I'll take it down.  It's that simple.

He (Fakhoury) asked me my opinion of it in a PM the other day.  I gave him my opinion of what little I knew about it at the time.  THEN, this article came out today and I thought I would share it with him and others in this thread.

David

Are you really posting that FUD article here?

I don't claim to know a whole hell-of-a lot about ETH; however, from what i have been reading in the past several months (mostly since about the January's pump and continuing), there seems to be a lot of ETH fluff and not a whole hell-of-a lot of substance.  Sure there are a lot of great ideas within the ETH space, but that does not mean that it is anywhere near to as valuable as BTC.. and one problem is ETH's various centralization areas (contributing to the pump, and soon thereafter dump), and another problem is that in the whole scheme of things, ETH seems to be very dependent upon the ongoing success of BTC.. riding on the coattails of BTC...  yeah right sure, I will concede that there seems to be quite a bit of reverse price correlation between BTC and ETH, yet I would still conclude that it seems very risky to allocate any more than 10% of your BTC related investment into ETH (I personally have not put anything into ETH, but I can understand that others may think differently from me, and therefore I can reasonably understand someone who considers ETH pump potential etc and may decide to invest up to 10% of total BTC related holdings into ETH as a kind of hedge).

Sorry Fakhoury - I certainly don't want to go too far down the ETH rabbit hole - even though a lot of us in the BTC space likely recognize that there is a certain extreme level of hype currently surrounding ETH ideas that may in various ways distract from BTC fundamentals and the much more solid value that BTC has over ETH (mainly the decentralized and immutable components of BTC are something that ETH has not even come close to achieving)..

I'm only recently acquainted with this thread, so I will begin to follow it.

I think that it is good to have a thread that purports to be overall BTC bullish, which implies that trolls and unreasonably (or unsubstantiated) negative posts about BTC will not be tolerated... which is also a good thing.

I find that there is plenty of negative and misleading BTC-related information in the news and even browsing through various bitcoin forum posts causes a certain level of frustration to sort through misinformation etc, so having a kind of safe harbor pro-BTC refuge seems great towards my thinking and overall BTC outlook.

It's possible...  But then again, the points made are quite legitimate.

I would have to agree with you.  I'm keeping an open mind [As always] to crypto of any sort.  I've had my doubts in the recent past about ETH.  However, now I'm beginning to see a bit of promise with it.  I have officially gone 52%/48% with BTC and ETH.

EDIT:  I have been very biased of other crypto's than bitcoin in the past.  ETH is the only one I have seen [As of late] with potential other than BTC.  My only concern that could potentially put a halt on it is how the SEC in the U.S. responds to DAO's (securities).

Thanks for that. Found it very interesting. Crypto is a multiverse and will constantly evolve - anyone that gets pissed because something does not say 'BTC rules' is being myopic IMO. There is always more to learn and more room to grow. Embrace change or be overcome by it. If BTC can't do that, it's really failing at it's mission, given it's lofty objectives.

Interesting read. Does he really do code?
I think that this is more like a Coinbase corporate opinion piece than his own opinion.

I'm all about bitcoin.  So, do NOT take this post the wrong way.  I just thought observers of this thread might find this article interesting.



https://medium.com/the-coinbase-blog/ethereum-is-the-forefront-of-digital-currency-5300298f6c75#.6zht21jjs

Yes we could do with some more positive reading material after suffering a dump.