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Offlinezee007
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Recently hopped onto the Bitcoin train...
    #19393414 - 01/09/14 12:01 PM (10 years, 21 days ago)

Holy shit it gets addicting!

If it wasn't so speculative I would just trade all day and quit my job...

Who knows, maybe one day I won't need one  :biggrin:. It has really helped show me how much I enjoy economics and techinal analysis, been playing around with metatrader too which also has been a great experience.


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Invisibleluvdemboomers
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Re: Recently hopped onto the Bitcoin train... [Re: zee007]
    #19393423 - 01/09/14 12:03 PM (10 years, 21 days ago)

where do you get your bitcoin info/news?


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Offlinerobbyberto
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Re: Recently hopped onto the Bitcoin train... [Re: luvdemboomers]
    #19393436 - 01/09/14 12:07 PM (10 years, 21 days ago)

The market is too volatile for me.


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InvisibleMagicman69
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Re: Recently hopped onto the Bitcoin train... [Re: robbyberto]
    #19393444 - 01/09/14 12:10 PM (10 years, 21 days ago)

Zee, if you like the bitcoin market, you will love the foreign currency market! A lot more information to base your investments on, and there are really great programs to help capitalize on your gains. Once you get the hang of it, you will be making a lot more than you would on bitcoins.


Edited by Magicman69 (01/09/14 12:10 PM)


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OfflineNotTheDevil
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Re: Recently hopped onto the Bitcoin train... [Re: Magicman69]
    #19393452 - 01/09/14 12:12 PM (10 years, 21 days ago)

Get some litecoins too, they will absolutely go up in value.


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InvisibleRepertoire89
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Re: Recently hopped onto the Bitcoin train... [Re: Magicman69]
    #19393455 - 01/09/14 12:13 PM (10 years, 21 days ago)

Quote:

Magicman69 said:
Zee, if you like the bitcoin market, you will love the foreign currency market! A lot more information to base your investments on, and there are really great programs to help capitalize on your gains. Once you get the hang of it, you will be making a lot more than you would on bitcoins.




I've heard that's a pretty volatile market as well, but a fast investment is a fast investment.

Zee: BTCs shift by hundreds of dollars a day sometimes, they went from $950 down to $500 a few weeks ago and back up to $800 from then to now. If one had invested when it was down at $500 they would be looking at almost 100% profit margin but when those prices drop you never know if they're going to go back up again.
Good luck


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InvisibleRepertoire89
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Re: Recently hopped onto the Bitcoin train... [Re: NotTheDevil]
    #19393459 - 01/09/14 12:14 PM (10 years, 21 days ago)

Quote:

NotTheDevil said:
Get some litecoins too, they will absolutely go up in value.




I've been putting off that purchase too long, need to grab at least $100 worth


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OfflineNotTheDevil
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Re: Recently hopped onto the Bitcoin train... [Re: Repertoire89]
    #19393483 - 01/09/14 12:20 PM (10 years, 21 days ago)

I've made money in litecoin, but I lost a lot of bitcoin by selling when I think a bubble will pop, then buying back thinking that if I don't I'll lose more, and then having it drop a day or two after.


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Offlinezee007
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Re: Recently hopped onto the Bitcoin train... [Re: Magicman69]
    #19393513 - 01/09/14 12:27 PM (10 years, 21 days ago)

Quote:

Magicman69 said:
Zee, if you like the bitcoin market, you will love the foreign currency market! A lot more information to base your investments on, and there are really great programs to help capitalize on your gains. Once you get the hang of it, you will be making a lot more than you would on bitcoins.




like I said, I have metatrader4 and been messing around with FOREX


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Offlinezee007
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Re: Recently hopped onto the Bitcoin train... [Re: NotTheDevil]
    #19393526 - 01/09/14 12:29 PM (10 years, 21 days ago)

Quote:

NotTheDevil said:
Get some litecoins too, they will absolutely go up in value.




I agree, I believe they will hit at least $50 sometime this year. They do follow btc though. Anyway I plan on putting at least 2k in there and just letting it sit


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OfflineNotTheDevil
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Re: Recently hopped onto the Bitcoin train... [Re: zee007]
    #19393536 - 01/09/14 12:31 PM (10 years, 21 days ago)

Quote:

Magicman69 said:
Zee, if you like the bitcoin market, you will love the foreign currency market! A lot more information to base your investments on, and there are really great programs to help capitalize on your gains. Once you get the hang of it, you will be making a lot more than you would on bitcoins.



If you can guess the humps right, you can double your money in a month, more if you use other cryptocurrencies.

Quote:

zee007 said:
Quote:

NotTheDevil said:
Get some litecoins too, they will absolutely go up in value.




I agree, I believe they will hit at least $50 sometime this year. They do follow btc though. Anyway I plan on putting at least 2k in there and just letting it sit



Their eventual value should be ~0.25 bitcoin per litecoin.


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Offlinezee007
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Re: Recently hopped onto the Bitcoin train... [Re: Repertoire89]
    #19393547 - 01/09/14 12:34 PM (10 years, 21 days ago)

Quote:

Repertoire89 said:
Quote:

Magicman69 said:
Zee, if you like the bitcoin market, you will love the foreign currency market! A lot more information to base your investments on, and there are really great programs to help capitalize on your gains. Once you get the hang of it, you will be making a lot more than you would on bitcoins.




I've heard that's a pretty volatile market as well, but a fast investment is a fast investment.

Zee: BTCs shift by hundreds of dollars a day sometimes, they went from $950 down to $500 a few weeks ago and back up to $800 from then to now. If one had invested when it was down at $500 they would be looking at almost 100% profit margin but when those prices drop you never know if they're going to go back up again.
Good luck




forsure! My emotional attachment doesn't stop me from reacting to whatever the current situation tells me, I have set myself up so I never have to worry about waiting for USD or coins. It is nice once you establish some trusted private traders


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InvisibleBodhi of Ankou
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Re: Recently hopped onto the Bitcoin train... [Re: robbyberto]
    #19393550 - 01/09/14 12:34 PM (10 years, 21 days ago)

Quote:

robbyberto said:
The market is too volatile for me.




These arnt stocks, its currency. As long as interest grows prices will continue to rise alongside it. Every single hiccup thus far has corrected itself and eventually eclipsed its previous high. Which is a fantastic track record, as far as investing in something goes. Its quite robust and reliable.


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InvisibleRepertoire89
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Re: Recently hopped onto the Bitcoin train... [Re: NotTheDevil]
    #19393556 - 01/09/14 12:35 PM (10 years, 21 days ago)

Damn people still go through MtGox, fucking crazy.

Planning on buying some LTCs and holding them at least until summer, supposed to be saving money right now so mine as well invest the savings.


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InvisibleRepertoire89
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Re: Recently hopped onto the Bitcoin train... [Re: zee007]
    #19393558 - 01/09/14 12:36 PM (10 years, 21 days ago)

Quote:

zee007 said:

forsure! My emotional attachment doesn't stop me from reacting to whatever the current situation tells me, I have set myself up so I never have to worry about waiting for USD or coins. It is nice once you establish some trusted private traders




That's what I need to do, waiting 4 days at a time to buy coins. Not a big issue today, but it could be an issue tomorrow


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Offlinezee007
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Re: Recently hopped onto the Bitcoin train... [Re: NotTheDevil]
    #19393583 - 01/09/14 12:43 PM (10 years, 21 days ago)

Quote:

NotTheDevil said:
Quote:

Magicman69 said:
Zee, if you like the bitcoin market, you will love the foreign currency market! A lot more information to base your investments on, and there are really great programs to help capitalize on your gains. Once you get the hang of it, you will be making a lot more than you would on bitcoins.



If you can guess the humps right, you can double your money in a month, more if you use other cryptocurrencies.

Quote:

zee007 said:
Quote:

NotTheDevil said:
Get some litecoins too, they will absolutely go up in value.




I agree, I believe they will hit at least $50 sometime this year. They do follow btc though. Anyway I plan on putting at least 2k in there and just letting it sit



Their eventual value should be ~0.25 bitcoin per litecoin.




So far I have been averaging around $15 a day, but there has been times where I luck out enough especially with alt coins and reach $30-$50. Started out with only $100.


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Offlinezee007
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Re: Recently hopped onto the Bitcoin train... [Re: Repertoire89]
    #19393601 - 01/09/14 12:47 PM (10 years, 21 days ago)

Quote:

Repertoire89 said:
Damn people still go through MtGox, fucking crazy.

Planning on buying some LTCs and holding them at least until summer, supposed to be saving money right now so mine as well invest the savings.




:lol: I have an account with almost everyone you could think of but Mt.Gox. I tend to stay away from arbitrage but I have other reasons for this.

LocalBitcoins has been a favorite of mine, and btc-e is nice to just walk away from although they can be unreliable and it is a royal pain in the ass.


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OfflineNotTheDevil
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Re: Recently hopped onto the Bitcoin train... [Re: zee007]
    #19393611 - 01/09/14 12:50 PM (10 years, 21 days ago)

I have a few thousand ($), but considering the amount I've lost I'm sticking to mining altcoins for now.


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InvisibleRepertoire89
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Re: Recently hopped onto the Bitcoin train... [Re: NotTheDevil]
    #19393619 - 01/09/14 12:52 PM (10 years, 21 days ago)

Opinions on Peercoins?
Thinking about divvying up my investments between LTC and PC

Using BTC as an exchange currency since I don't have a whole lot to invest atm


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OfflineNotTheDevil
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Re: Recently hopped onto the Bitcoin train... [Re: Repertoire89]
    #19393631 - 01/09/14 12:55 PM (10 years, 21 days ago)

Quote:

Repertoire89 said:
Opinions on Peercoins?
Thinking about divvying up my investments between LTC and PC

Using BTC as an exchange currency since I don't have a whole lot to invest atm



I haven't payed much attention to ppc, but I mine ANC aka anoncoins, they're really profitable to mine and I think they have a serious potential future.


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InvisibleRepertoire89
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Re: Recently hopped onto the Bitcoin train... [Re: NotTheDevil]
    #19393639 - 01/09/14 12:56 PM (10 years, 21 days ago)

Shit I'd like to mine but am operating on a laptop

Also mine as well buy some ripples, $10 now could be a lot down the line (as some capitalized with BTCs)


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Offlinezee007
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Re: Recently hopped onto the Bitcoin train... [Re: luvdemboomers]
    #19393642 - 01/09/14 12:58 PM (10 years, 21 days ago)

Quote:

luvdemboomers said:
where do you get your bitcoin info/news?




I don't pay attention to bitcoin info/news as much as I do playing around with charts, watching volume, and keeping my eye on certain traders.

I will sometimes lurk on bitcoin forums but it is mainly for more tools, programs, and reading reviews on new markets as well as new ways to trade. It's funny most of the time doing the opposite of what the common accusations are is usually a great way to make your move.


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InvisibleSynthe
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Re: Recently hopped onto the Bitcoin train... [Re: Repertoire89]
    #19393643 - 01/09/14 12:58 PM (10 years, 21 days ago)

Quote:

Repertoire89 said:
Shit I'd like to mine but am operating on a laptop



Join the NSA, install a miner on their supercomputer that deposits the profits into your wallets.


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OfflineNotTheDevil
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Re: Recently hopped onto the Bitcoin train... [Re: Repertoire89]
    #19393657 - 01/09/14 01:03 PM (10 years, 21 days ago)

Quote:

Repertoire89 said:
Shit I'd like to mine but am operating on a laptop

Also mine as well buy some ripples, $10 now could be a lot down the line (as some capitalized with BTCs)



Their still quite cheap ~0.005 btc a piece you can probably buy a few. My 100 dollar card got lucky by price jump and payed itself off in a month.


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InvisibleBodhi of Ankou
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Re: Recently hopped onto the Bitcoin train... [Re: NotTheDevil]
    #19393666 - 01/09/14 01:07 PM (10 years, 21 days ago)

Butterfly labs makes some killer hardware for mining.


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Offlinezee007
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Re: Recently hopped onto the Bitcoin train... [Re: Repertoire89]
    #19393719 - 01/09/14 01:29 PM (10 years, 21 days ago)

Quote:

Repertoire89 said:
Shit I'd like to mine but am operating on a laptop

Also mine as well buy some ripples, $10 now could be a lot down the line (as some capitalized with BTCs)




Mining is great, but It just isn't anywhere near as profitable for someone who isn't already on top of the game, with a good couple thousand invested and already making more than they put towards their equipment. The difficulty will be up to the point where you will be making no where near what you have calculated at the time of setup; once you make your money back. Not to mention electricity costs and other variables such as failed hashing, if your power gets cut off, etc. Even if you had enough to spend on an Asic, by the time you get your hands on it, you will be sick to your stomach knowing how much more you could have had making a couple low risk trades.

Of course trading requires much more dedication, self discipline, and is HIGH risk. With enough knowledge and speculation you can easily find patterns that will guarantee low risk high reward trades. I am talking about a good 2-3 month evaluation of your own modified version of the many techniques out there with relentless confirmation. It will take some willpower because of the fast pace and the frequent jumps.

Once you have a nice profit and a good amount of coins you can keep in the market for those bubbles that occur every couple months then get yourself a rig. You are more likely to break even with a rig then lose money trading where cryptocurrency currently stands. If after the 1-3 month period of finally making profit comes and you decide to change your mind, selling your equipment won't be so easy either, because most likely you will not be the only one.


Edited by zee007 (01/09/14 01:41 PM)


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OfflineRavageTheEarth
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Re: Recently hopped onto the Bitcoin train... [Re: zee007]
    #19393751 - 01/09/14 01:39 PM (10 years, 21 days ago)

I've been mining since April. Most definitely addicting! How much hash do you have and what cards?


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Offlinezee007
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Re: Recently hopped onto the Bitcoin train... [Re: Repertoire89]
    #19393798 - 01/09/14 01:50 PM (10 years, 21 days ago)

Quote:

Repertoire89 said:
Opinions on Peercoins?
Thinking about divvying up my investments between LTC and PC

Using BTC as an exchange currency since I don't have a whole lot to invest atm




I have had some friends who have made some good profit off namecoins. I think you would be better off trading NMC/USD and PPC/USD and then turn profits into LTC.


Edited by zee007 (01/09/14 02:15 PM)


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InvisibleRepertoire89
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Re: Recently hopped onto the Bitcoin train... [Re: zee007]
    #19393821 - 01/09/14 01:57 PM (10 years, 21 days ago)

Quote:

NotTheDevil said:
Quote:

Repertoire89 said:
Shit I'd like to mine but am operating on a laptop

Also mine as well buy some ripples, $10 now could be a lot down the line (as some capitalized with BTCs)




Their still quite cheap ~0.005 btc a piece you can probably buy a few. My 100 dollar card got lucky by price jump and payed itself off in a month.




:lookslucrative:


Quote:

zee007 said:




Ima hold off on mining, by the time I get the money together there's going to be more booms in BTC and LTC, would rather focus on investing overall. If I had enough money to both invest and mine, then I would definitely do both.


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InvisibleRepertoire89
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Re: Recently hopped onto the Bitcoin train... [Re: zee007]
    #19393830 - 01/09/14 02:00 PM (10 years, 21 days ago)

Quote:

zee007 said:

I have had some friends who have made some good profit off namecoins. I think you would be better off trading NMC/USD and PPC/USD and then turn profits into LTC.




:strokebeard:

Was thinking somewhere along the same lines, or at least to focus investments on smaller coins like PPC and hold onto a certain number of LTCs long term.


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OfflineNotTheDevil
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Re: Recently hopped onto the Bitcoin train... [Re: RavageTheEarth] * 1
    #19393841 - 01/09/14 02:03 PM (10 years, 21 days ago)

Quote:

RavageTheEarth said:
I've been mining since April. Most definitely addicting! How much hash do you have and what cards?



~470 KH (altcoins) from a 5770 and a 5850, I've made thousands of dollars. I started mining bitcoin and had like 20 and now I mine anoncoins.


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Offlinezee007
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Re: Recently hopped onto the Bitcoin train... [Re: Repertoire89]
    #19393897 - 01/09/14 02:16 PM (10 years, 21 days ago)

Quote:

Bodhi of Ankou said:
Quote:

robbyberto said:
The market is too volatile for me.




These arnt stocks, its currency. As long as interest grows prices will continue to rise alongside it. Every single hiccup thus far has corrected itself and eventually eclipsed its previous high. Which is a fantastic track record, as far as investing in something goes. Its quite robust and reliable.




Indeed they are not, but recently they have made it so you can go long and short with BTC CFD on couple exhange markets using leverage like you would with stock or any other foreign exchange market. You can now do this with all the other currency's available on BTC-e with BTC-e's own metatrader platform as well as BTC/BTC at BTC.sx. This means it is possible to make profits even when the market is falling. Unfortunately all this is very new, and their are some major flaws causing most people to lose almost everything.

Quote:

Repertoire89 said:


Quote:

zee007 said:




Ima hold off on mining, by the time I get the money together there's going to be more booms in BTC and LTC, would rather focus on investing overall. If I had enough money to both invest and mine, then I would definitely do both.




exactly my point


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