I was wondering about how this works too. I was looking around on some other exchanges this morning and noticed a pretty wide discrepancy.
Maybe because coinbase is the most popular to buy/sell ?
I am trying to set up a Gemini account and they want my bank sign-in and password. WTF? Should I be worried?
That sounds super sketchy, there are ways to get money in and out of your account without that (routing/acct #) that they shouldnāt need that. ĀÆ_(ć)_/ĀÆ
Coinbase logged in with my bank online name and passwordā¦ hope they donāt get hacked eventually.
Lol i kept putting off on ripple and nowā¦
@Skurge very nice! Iām modeling it after this:
just picked up the supplies today.
I skipped that part, now they want my SS and Driverās License?!?!?
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I knew it, it is run by the Illuminati!!!
HODL!!!
50$ on beer!? Damn son, slam down 3 shots of fireball for 4$ and save 46$ to invest in bitcoin.
Ah yes the golden asian work chromosome. Gives a human the ability to overclock their brain and work an unprecedented amount of hours. Very hard to compete with in college.
I got into ripple at .21 a coin. Like what happened today for sure.
I cant seem to get past this: (great option) investing= hold / (risky option) earn on fast trades.
Two different approaches but I keep butting heads. I wish within my Binance account I could split say BTC into different āpursesā. I figure it will take me about 5k of money set aside just for the fast trades. I want to turn this into a job. If i cant make at least $20 an hour off of ~5k on short trades I deserve to be poor. Thatās aside from my budding career as an LMT :D. I just donāt imagine a world where crypto goes away, even if BTC was to, something else will take its place.
I was going to try the sell high rebuy low. But working 6 days a week 12 hour days I just buy and hold. It worked out well so far. Sure I could be up more but is whatās left of my free time woth it. Not to me.
Totally get you. Just seeing as to how on good days just doing offhanded trades I made $20 within a 15 min window and in other cases $150-$300 overnight to be lost again because I kept doing things I didnāt understand at the time.
On Binance most of everything is traded in BTC not dollars, so if you go the route of trading to earn, you need to think and keep track of what you paid for each batch in BTC not Dollar, I kept mixing them up and looking at the price in dollar amount. Except that what is at $4.30 today and say .00045 btc today, could be $ 4.45 tomorrow and .00041 btc tomorrow. By my estimation, if I did things right from the start, I would be closer to $6k-$7k today on the $1700 invested so far. At least I am not lower than I started. If BTC was a constant like a dollar, would be much easier to keep track of. Being stable helps with one aspect of trading , on the other hand if you already have btc from before, and then price of btc goes into the 20ās and 30ās, itās that much easier to earn even on tiny earnings of btc through buy/sell trading. 5000 Mana or the like at a tiny increase on a sale at $17k/btc can translate to good money if done enough times /hour or day.
The other variable is that as long as btc keeps increasing in value , the daily peak as counted in BTC keeps decreasing. All these articles keep saying LTC sudden growth etc however for the past week or so at least, it has been on a delayed tandem with BTC. When BTC was $11k , LTC was ~$100, and peaked at somewhere around .0021, next cycle was .002 but dollar amount was higher. Looking at that chart and going by approximate ratio over the past few peaks , I calculated and came up with $360+ on a $16500/ btc. Then when I saw the price rapidly going down, I thought my math sucks got scared and sold the 9.36 ltc I had. That move cost me a $2200 gain. Certainly not an exact rule but as long as BTC is strong and no other currency is actually gaining ground against it, it seems to be within a relatively close ratio. Iād like to get a bunch of historical data, cross reference dates and see if thereās anything to what I am seeing or Iām just seeing ghosts. Also waiting on Chokos website !! The way I imagine it is BTC first in line hanging on a long rubber band. Pull it down release and everything starts bouncing up and down. Once it settles, eventually the others start to as well. Only works for part of the equation I know. No accounting for human emotion in this. I think a lot of people will be looking for BTC gains in all the cheaper coins so it will keep growing
On that note, are the other exchanges in dollar amounts? Which ones have the lower fees? As much as I can see GDAX is BTC, Ether and LTC only.
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Mining Rigs open air coming right up! Iām gonna sell for 70 shipped. Cost 20 to make, then 10 to ship in continental states. Iām gonna make one and see if it sells. Taking roughly an hour to do.
Is something like an Antminer S9 worth it right now or at these prices too many people are jumping on hashing? They used to be $1k from the supplier, going at $5+k on ebay lol
Thatās some good info. I guess if I put a little effort forth I could do well. What about Bitstamp. I used that to buy and hold ripple. Which had a 30%+ increase today which Iām super happy about.
I donāt know (bitstamp), Iām just saying what I observe, also why Iām kindly awaiting Chokos website and information based on years of market observation.
My goal is to have enough money on which I can make BTC (or whatever ruling currency being traded in of the day) say sell proceeds half at the end of the day to put into bank account and the rest into buying up more of the other currencies. Basically build a long term portfolio that way.
Same @choko !!! I hypothetically play the market in my head but am not brave enough to do it alone.
My issue is capital. When I accidentally go too high, it usually comes back to that point but up to 2 hours later. If I had batches at a time going, even if 1 gets hung up , i could trade with other ābatchesā while that one stays in limbo until can be sold at profit. As a rule every single time. It did that for me was because i got greedy and went for $8 instead of $4.5. Doing $4.5 15 times /hour vs $8 in up to two hours . as the pool grows so can proceeds.
Also we are at 1300+ Cryptos, considering that decentraland has Mana @ $0.20+, I think it is safe to say we will have 10k + before too long. Itās always about whether Bitcoin is a bubble, but looking at the market, even if it went to $50 next week, the money would just flow into the others.