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ludo21 11:27 Wed Sep 6
Bitcoin.... talk to me
Anyone know about these?

Friend of mine got in about 6 months ago and has seen his investment rise five fold in that time.

Thinking about putting a (very) modest sum in and just forgetting about it for a number of years, the potentail for growth seems staggering!

Any pitfalls to watch out for?

What about the younger cyrptos that have yet to explode? Will Ether and IOTAs follow same path.

Cheers.

Replies - Newest Posts First (Show In Chronological Order)

Vexed 1:40 Wed Nov 7
Re: Bitcoin.... talk to me
Stick to the top 20 coins or you'll more than likely get burned. Bitcoin will climb again but will likely have to drop to around $5k before it does. That is the next time to buy as the institutional investors will pile in at that price. 2019 is going to be interesting but Bitcoin is still the main player despite the hype around other coin/tokens. Your mate has done well to triple up as the Bitcoin price has been pretty stagnant for the last six months at least.

yogib 1:23 Wed Nov 7
Re: Bitcoin.... talk to me
Zeb - how can it be a Commodity?

In normal Commodity trading you can trade Options, Futures or buy the physical asset. Bitcoin is a virtual asset....you can't buy a Bitcoin and hold it in your hand like Sugar, Coffee or a Metal...therefore I can't see how it can be classed as a Commodity.

BRANDED 12:52 Wed Nov 7
Re: Bitcoin.... talk to me
If you want to buy something dodgy then pile in.

Cheezey Bell-End 12:46 Wed Nov 7
Re: Bitcoin.... talk to me
It's levelling off now. Not much movement at all. Traders use similar technical analysis as to share trading and it's being predicted to break significantly one way or the other soon (against $US). I don't know much about TA. I just trust the bots to handle it.

lowermarshhammer 12:40 Wed Nov 7
Re: Bitcoin.... talk to me
Currently trading at a third of it's all time high.

zebthecat 12:39 Wed Nov 7
Re: Bitcoin.... talk to me
cbe - Exactly. It is a commodity.

Cheezey Bell-End 12:38 Wed Nov 7
Re: Bitcoin.... talk to me
I use a system called 3commas. I use it to trade on the Binance exchange.
There are some youtube clips on it, which is how I found it, but precious little documentation.

Cheezey Bell-End 12:36 Wed Nov 7
Re: Bitcoin.... talk to me
It's hard to spend like normal money, but you can buy/sell and trade it, so it has a value.

East Auckland Hammer 12:34 Wed Nov 7
Re: Bitcoin.... talk to me
Cheezey Bell-End 12:25 Wed Nov 7

Thanks Cheezey. How do you find the automated bots?

Cheezey Bell-End 12:33 Wed Nov 7
Re: Bitcoin.... talk to me
Some coins have a policy of 'burning' where they periodically take coins out of circulation to maintain their value.

zebthecat 12:29 Wed Nov 7
Re: Bitcoin.... talk to me
Bitcoin is not a currency in any usable way.

East Auckland Hammer 12:28 Wed Nov 7
Re: Bitcoin.... talk to me
yogib 12:09 Wed Nov 7

Thanks yogi. That's what my traditional business brain tells me too. If you increase the amount of something in circulation, and increase its availability, the price will come down, but I wasn't sure whether that held true for digital currency as well.

But this is a slightly different scenario I think because a) it's digital currency which is more volatile than traditional business, and you don't actually have to purchase the coin to increase the amount you hold.

I was wondering about purchasing some outside of the business, which would hopefully either generate separate income to re-invest, or be a nice earner in it's own right.

Cheezey Bell-End 12:25 Wed Nov 7
Re: Bitcoin.... talk to me
A lot of the coins out there are just shit and will disappear before long.
Doing what I do, I buy anything that has some volume and is triggering the right signals, then sell it for a small profit a few minutes/hours/days later. The point being to grow my Bitcoin holding (HODLing in crypto parlance).
Unless it's BTC, ETH, LTC, XRP or a handful of others, I wouldn't bother HODLing it personally. It might spike (mooning as it is known) or it might just tank and die.

yogib 12:09 Wed Nov 7
Re: Bitcoin.... talk to me

East Auckland Hammer 9:56 Tue Nov 6

If people are being offered said crypto currency it'll dilute the value - example Patisserie Valerie shareholders are pissed 'cos shares are being offered at a cut down price - whilst not the same situation it'll also depend if what you're being offered is in a tradeable asset or not.....but I'm not a trader so could be miles off!!!

BRANDED 11:47 Tue Nov 6
Re: Bitcoin.... talk to me
The problem is, theres a limit to the mining but there are UNLIMITED algorithms.
Ahhhhh....

Cheezey Bell-End 11:39 Tue Nov 6
Re: Bitcoin.... talk to me
I do day trading using automated bots that buy and sell crypto using Bitcoin as the base currency.
I average about 1%.Have made 4% before.
Market is a bit shit at the moment as the effects of the big spike last year finally wear off. Hopefully, there will be more volume and volatility soon.
It's better than spread betting or online casino etc, but fiddly to get into and less regulation.

East Auckland Hammer 9:56 Tue Nov 6
Re: Bitcoin.... talk to me
Not sure if this is the latest Bitcoin thread or not, but I have received an interesting digital currency opportunity and before I jump in I have a couple of questions which some might be able to answer.

Let's just say that a company starts rewarding users or subscribers with digital currency (an already existing one), what is likely to happen to the price of that digital currency for people who already hold some?

Would it's value likely increase, or decrease in the both the short and long term?

LeroysBoots 10:46 Fri Sep 15
Re: Bitcoin.... talk to me
New tenner was released yesterday.

Long queue of anoraks queuing up outside the BOE looking to get their 6 fingered hands on the new notes hoping to bag a A0000 series note that can fetch up to £3k on Spinks website.

Truth is................................... all of those series notes were not released !

Mike Oxsaw 10:02 Fri Sep 15
Re: Bitcoin.... talk to me
If you plan to trade with companies that accept Bitcoins, keeping a small reserve is not a bad idea - you have another option when interest/exchange rates start wobbling.

Regard it as you would buying shares - values can go down as well as up, and don't tie up any more than you can afford to lose completely.

Turpinator 9:50 Fri Sep 15
Re: Bitcoin.... talk to me
http://www.dailystar.co.uk/news/latest-news/644668/Bitcoin-cryptocurrency-mining-financial-crash-2017-pound When the Daily Star gets bullish its time to worry. Jp Morgan head stuck the boot in as well but that was just sour grapes. Bankers see a cash cow of the last 100 years under threat.

Darby_ 5:59 Fri Sep 15
Re: Bitcoin.... talk to me
Bitcoin down 30% in two weeks. I hope no one bet their house on it.

http://fortune.com/2017/09/14/bitcoin-price-china-btcchina/

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