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sh4d0ws
LSx


Registered: 02/26/08
Posts: 12,086
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: trees]
#27263192 - 03/21/21 12:20 PM (2 years, 10 months ago) |
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Yeah 100x leverage is a real good way to get absolutely rekt.
I know a couple guys who do 20x - 25x pretty regularly and they do make profits, but it doesn't always work out for them. Sometimes they get liquidated. It's a risky endeavor.
Personally I see value in just trading spot if you have a couple thousand to work with. Much less risk and it's possible to make decent money. One of the biggest reasons I use binance is because it has the most liquidity of any exchange, even on some of the more obscure alts. Of course, it's always possible to lose money too even without leverage. Requires good discipline.
I think we might see a drop down to like $54K or lower even. I'm hoping not, but... not convinced this little down trend is over yet.
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trees


Registered: 02/08/09
Posts: 9,194
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Grimsweeper]
#27263221 - 03/21/21 12:38 PM (2 years, 10 months ago) |
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@grimsweep It was KuCoin
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Kittlebean



Registered: 01/05/17
Posts: 192
Loc: UK
Last seen: 8 days, 4 hours
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: trees] 1
#27263253 - 03/21/21 01:06 PM (2 years, 10 months ago) |
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Got in with ONE at 0.102 and then again later at 0.11
Looking to add some more once it drops again, must be ready for a correction soon.
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Primal Matter
Student of Institutions



Registered: 10/27/19
Posts: 487
Loc: Brisbane
Last seen: 1 year, 10 months
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Kittlebean]
#27263372 - 03/21/21 02:48 PM (2 years, 10 months ago) |
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I used leverage back when I didn't have enough capital to make the minimum trade, it worked for me haha
-------------------- Produce FTX referral
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blackhawk
Newton's Law of Majesticity



Registered: 04/02/11
Posts: 8,465
Loc: Where Jimmies are Rustled
Last seen: 3 hours, 27 minutes
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: trees]
#27263435 - 03/21/21 03:40 PM (2 years, 10 months ago) |
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Quote:
trees said: @grimsweep It was KuCoin
I should have used this and dealt with the card fees. Coinbase locks my funds for several days before I can withdraw and could have gotten ONE at 8 cents instead of 11
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budmanman
OTD Masterbater



Registered: 02/07/07
Posts: 17,974
Loc: PNW
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Asante]
#27263595 - 03/21/21 06:17 PM (2 years, 10 months ago) |
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Quote:
Asante said:
Quote:
usury yoo͞′zhə-rē►
n. The practice of lending money and charging the borrower interest
I wish you all a fantastic bull run, but believing what I do, and making good on it in deed, I am pulling out of Crypto investing per immediate and no longer endorse the practice, regardless of what profits i might have had with it.
If it wasn't flung into the cosmos by two neutron stars making love, I won't accept it as money.

Most of the systems that power crypto use gold, the electronics. Those neutron stars made crypto.
-------------------- Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal. And I am mentally unstable.
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Nature Boy
Stranger than most



Registered: 07/09/07
Posts: 8,241
Loc: Samsara
Last seen: 2 months, 5 days
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Grimsweeper]
#27263601 - 03/21/21 06:23 PM (2 years, 10 months ago) |
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Quote:
Grimsweeper said: I missed it somewhere what exchange are you using?
I see trees already responded...sorry to keep you in the dark. It wasn't some cloak and dagger secret...just came up in conversations via PM's is all. I should have stated it outright and explicitly...but in fact was more comfortable allowing trees to share the info. Wasn't sure how he would feel about it since it came up in the confines of a private conversation.
As far as I can tell, KuCoin is reputable. Never had a breach, they have 2FA, and they carry insurance for loss if there ever is a breach. The UPSIDE is KuCoin is unlikely to report to the IRS...the DOWNSIDE is you have to buy USDT with a credit card and will pay ~ 6.8% as a transaction fee, then have to "trade" your USDT for whatever coin (and there's a zillion of them!) in which you have an interest. So, the net result is that for every $1000 you send to the exchange, you're going to only have $932 to invest. Their maker and taker fees are 0.1% I set up 2FA and a trading password. It's like a triple hoop someone would have to jump through to trade on your account. They also have a completely separate password setup for transferring funds off their site back to your bank. I wonder if there is a fee for that? I THOUGHT I saw that that was free, but do not quote me on that.
Navigating a strange exchange is a PITA...but then again Cryptowatch had a learning curve, so can't hold the "newness" of the KuCoin GUI against them.
Given that we seem to be in uncertain territory with BTC and ETH (my two biggest holdings) I'm reluctant to commit further funds. Let's see what tomorrow brings. I might be looking to lower my exposure to both in the next 24 - 48 hours if I don't see more bullish signals. I will be getting up early tomorrow to see what's what and make some decisions. Gonna set some alerts in Crypto Pro app, too, just in case.
-------------------- All submitted posts under this user name are works of pure fiction or outright lies. Any information, statement, or assertion contained therein should be considered pure unadulterated bullshit. Note well: Sorry, but I do not answer PM's unless you are a long-time trusted friend. If you have a question, ask it in the appropriate thread.
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sh4d0ws
LSx


Registered: 02/26/08
Posts: 12,086
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Nature Boy]
#27263685 - 03/21/21 07:26 PM (2 years, 10 months ago) |
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Buy the crypto on coinbase then transfer it to kucoin for trading. I doubt it's any more risky than having the crypto purchase recorded on a credit card where the IRS could also see it if they had some reason to investigate you. Maybe even transfer all the crypto to a personal wallet before forwarding it on to kucoin.
If you really want to avoid paying taxes you should probably use a VPN as well.
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sh4d0ws
LSx


Registered: 02/26/08
Posts: 12,086
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: sh4d0ws]
#27263686 - 03/21/21 07:27 PM (2 years, 10 months ago) |
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Looks like a further dip below 56K may be coming. I think 54K and even lower is possible at this point.
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automan
blasted chipmunk


Registered: 09/18/03
Posts: 8,272
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: sh4d0ws]
#27263705 - 03/21/21 07:43 PM (2 years, 10 months ago) |
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Quote:
sh4d0ws said: Looks like a further dip below 56K may be coming. I think 54K and even lower is possible at this point.
TBH, 47k is possible tonight and this week.
-------------------- No, no, you're not thinking, you're just being logical. ~ Niels Bohr
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automan
blasted chipmunk


Registered: 09/18/03
Posts: 8,272
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: sh4d0ws]
#27263709 - 03/21/21 07:45 PM (2 years, 10 months ago) |
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Quote:
sh4d0ws said: Buy the crypto on coinbase then transfer it to kucoin for trading. I doubt it's any more risky than having the crypto purchase recorded on a credit card where the IRS could also see it if they had some reason to investigate you. Maybe even transfer all the crypto to a personal wallet before forwarding it on to kucoin.
If you really want to avoid paying taxes you should probably use a VPN as well.
I use Coinbase and my onramp and offramp to my bank and transfer in and out of Kucoin (which is where I do all my trading.) I only trade Coin-margin future perp contracts.
-------------------- No, no, you're not thinking, you're just being logical. ~ Niels Bohr
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sh4d0ws
LSx


Registered: 02/26/08
Posts: 12,086
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: automan]
#27263713 - 03/21/21 07:48 PM (2 years, 10 months ago) |
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Guess you trade with leverage then?
Ballsy. I have never done that but thought about it. 100x seems a bit too crazy for me though.
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automan
blasted chipmunk


Registered: 09/18/03
Posts: 8,272
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: sh4d0ws] 1
#27263721 - 03/21/21 07:54 PM (2 years, 10 months ago) |
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I average between 5x and 8x, but traded at 30x until I got my first 0.5btc. Never again, though.
-------------------- No, no, you're not thinking, you're just being logical. ~ Niels Bohr
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Grimsweeper
don't fear the sweeper


Registered: 01/29/18
Posts: 4,843
Loc: broom closet
Last seen: 6 days, 2 hours
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Nature Boy]
#27263832 - 03/21/21 09:26 PM (2 years, 10 months ago) |
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Quote:
Nature Boy said:
Quote:
Grimsweeper said: I missed it somewhere what exchange are you using?
I see trees already responded...sorry to keep you in the dark. It wasn't some cloak and dagger secret...just came up in conversations via PM's is all. I should have stated it outright and explicitly...but in fact was more comfortable allowing trees to share the info. Wasn't sure how he would feel about it since it came up in the confines of a private conversation.
As far as I can tell, KuCoin is reputable. Never had a breach, they have 2FA, and they carry insurance for loss if there ever is a breach. The UPSIDE is KuCoin is unlikely to report to the IRS...the DOWNSIDE is you have to buy USDT with a credit card and will pay ~ 6.8% as a transaction fee, then have to "trade" your USDT for whatever coin (and there's a zillion of them!) in which you have an interest. So, the net result is that for every $1000 you send to the exchange, you're going to only have $932 to invest. Their maker and taker fees are 0.1% I set up 2FA and a trading password. It's like a triple hoop someone would have to jump through to trade on your account. They also have a completely separate password setup for transferring funds off their site back to your bank. I wonder if there is a fee for that? I THOUGHT I saw that that was free, but do not quote me on that.
Navigating a strange exchange is a PITA...but then again Cryptowatch had a learning curve, so can't hold the "newness" of the KuCoin GUI against them.
Given that we seem to be in uncertain territory with BTC and ETH (my two biggest holdings) I'm reluctant to commit further funds. Let's see what tomorrow brings. I might be looking to lower my exposure to both in the next 24 - 48 hours if I don't see more bullish signals. I will be getting up early tomorrow to see what's what and make some decisions. Gonna set some alerts in Crypto Pro app, too, just in case.
Appreciate the explanation. I registered at Kucoin but couldn't even find Harmony ONE in their listings. I'll take it as a sign that I'm spread too thin with 3 exchanges already and around 15% free cash to work with right now. I hope you guys do really well with it though. Seems like the only way to catch these new coins before they rocket is to go a little out of your comfort zone.
Feeling pretty good about some recent trades though. Dumped some of my alts that were doing well (just recently) for BTC on the dive.
-------------------- When you clean a vacuum cleaner you are a vacuum cleaner Build yourself a Flow Hood in these 99 simple steps
 
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Nature Boy
Stranger than most



Registered: 07/09/07
Posts: 8,241
Loc: Samsara
Last seen: 2 months, 5 days
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Grimsweeper]
#27264054 - 03/22/21 05:24 AM (2 years, 10 months ago) |
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Quote:
Grimsweeper said:
Appreciate the explanation. I registered at Kucoin but couldn't even find Harmony ONE in their listings. I'll take it as a sign that I'm spread too thin with 3 exchanges already and around 15% free cash to work with right now.
LOL! Just type ONE into the KuCoin search box. Comes right up
https://trade.kucoin.com/ONE-USDT
-------------------- All submitted posts under this user name are works of pure fiction or outright lies. Any information, statement, or assertion contained therein should be considered pure unadulterated bullshit. Note well: Sorry, but I do not answer PM's unless you are a long-time trusted friend. If you have a question, ask it in the appropriate thread.
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Nature Boy
Stranger than most



Registered: 07/09/07
Posts: 8,241
Loc: Samsara
Last seen: 2 months, 5 days
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: automan]
#27264111 - 03/22/21 06:46 AM (2 years, 10 months ago) |
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Quote:
automan said: I use Coinbase and my onramp and offramp to my bank and transfer in and out of Kucoin (which is where I do all my trading.) I only trade Coin-margin future perp contracts.
Interesting. I'll never trade margin, but using an API linked to CBP to transfer funds in BTC or ETH seems like it might work more economically. Is there a fee to do that?
I'm looking to exit certain positions in profit, and one way might be to transfer to KuCoin. WTF is going on with BTC this morning. It's looking weak and dragging ETH down with it. DXY is low (bullish), SPX pointing up (bullish) yet BTC is looking like shit.
-------------------- All submitted posts under this user name are works of pure fiction or outright lies. Any information, statement, or assertion contained therein should be considered pure unadulterated bullshit. Note well: Sorry, but I do not answer PM's unless you are a long-time trusted friend. If you have a question, ask it in the appropriate thread.
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automan
blasted chipmunk


Registered: 09/18/03
Posts: 8,272
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Nature Boy]
#27264226 - 03/22/21 08:42 AM (2 years, 10 months ago) |
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Quote:
Nature Boy said: WTF is going on with BTC this morning. It's looking weak and dragging ETH down with it. DXY is low (bullish), SPX pointing up (bullish) yet BTC is looking like shit.
We're at the end of Q1 and corporations with BTC on their balance sheets are probably rebalancing their positions.
-------------------- No, no, you're not thinking, you're just being logical. ~ Niels Bohr
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Nimpo
Big Black


Registered: 05/10/12
Posts: 2,375
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: automan]
#27264286 - 03/22/21 09:44 AM (2 years, 10 months ago) |
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BTC just being BTC. We are way over extended, would love to see BTC capitulate down to 30-35k again and slowly make its way back to 60k+ by start of summer.
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trees


Registered: 02/08/09
Posts: 9,194
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Nimpo]
#27264291 - 03/22/21 09:51 AM (2 years, 10 months ago) |
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That would be epic, it would feel like a full crash to basically everyone. Youd have people buying huge amounts on the way down around 45k only to go lower it would cause epic FUD. I am going to stay mentally prepared for that. Theres rumors about it potentially following the 2013 pattern with a double peak
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Nimpo
Big Black


Registered: 05/10/12
Posts: 2,375
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: trees]
#27264297 - 03/22/21 09:56 AM (2 years, 10 months ago) |
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Hell yeah. I want blood in the water, even if its my own. A fearful crypto market usually always leads to a good crypto market.
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