Bitcoins/Litecoins/Virtual Currencies
- Thread starter Tripamang
- Start date
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Guest, it's time once again for the massively important and exciting FoH Asshat Tournament!
Go here and give us your nominations!Who's been the biggest Asshat in the last year? Give us your worst ones!
Arden
Blackwing Lair Raider
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I’m personally all in on Ethereum (90 percent) and 10 percent VET.
I was just curious if it was even worth it to try and swing trade. Probably not worth cashing out and rebuying until it looks like this bull market is over eh.
I was just curious if it was even worth it to try and swing trade. Probably not worth cashing out and rebuying until it looks like this bull market is over eh.
Threelions
Victory Through Harmony
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I feel like an idiot for selling my LINK at $32.5 from grabbing at $20. RIP for lost tendies. I'm definitely letting ETH ride, but there are gains to be made. No matter how much research I do, there are conflicting chart readings from all corners of the internet.
Also RIP my pending limit buy on ADA from a week or two ago that missed by 1 cent
Also RIP my pending limit buy on ADA from a week or two ago that missed by 1 cent
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Rangoth
Blackwing Lair Raider
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I struggle with this myself so I am basically buying it all for long term(5+ years maybe unless there is some massive upward movement and I get greedy).
I do not really understand this market. There does seem to be some natural swing from people trading regularly, like stocks, but there also what seems to be a never-ending upward movement that I'm not sure has a cap right now. I'm sure I am wrong on that, but everything I own keeps going up so I'm not confident in my ability to get out high and get back in low. I have no idea how to read the lows and highs with this shit.
Then you factor in fees. I pulled all of my coins from coinbase and moved them to binance for that reason. Binance isn't bad as the fee is like .075% at worst, so using that I would say you want to make at least 1-2% for it to be "worth it", though technically anything above the fee is profit.
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In the past I read articles about how someone put 500$ into 20 different coins or something and while he didn't lose it all, bitcoin outperformed them all. I think this will probably continue to be true with BTC/ETH but I also have doubts. No doubt those are long game but I think their inability to be a "common currency" will always prevent them from reaching wide-spread acceptance.
This is where I think things like VET/XLM(I really like Stellar) or even Algorand will be nice since they are not tokens on the ETH chain, which is one of the massive differences. I have about 2k in each of those and all are up big for me. I bought the algorand crap when it was .60 cents, it's now a 1.40$. Like anything it swings, but always slowly moving up! Same with VET and XLM(which by the way is like 5th biggest market cap and has held that for years).
It seems more and more people are wanting in on the crypto game and with the limited supply, everything is on the up and up. I just hope it doesn't crash before I make enough to buy my dream home in cash
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Good perspective! I’m with you. I’m new to crypto but I’ve been watching Bitcoin weekly for a year or so. I’ve seen the periods where it would go up to, say, 30,000, then back down to 20-25, then back to 30, and so on (insert correct numbers here.) But like you said these patterns only last so long and it always trends up, but I’d think there is money to be made if you pay attention. I’m gonna transfer to Binance as well most likely, already have VET there obviously.I struggle with this myself so I am basically buying it all for long term(5+ years maybe unless there is some massive upward movement and I get greedy).
I do not really understand this market. There does seem to be some natural swing from people trading regularly, like stocks, but there also what seems to be a never-ending upward movement that I'm not sure has a cap right now. I'm sure I am wrong on that, but everything I own keeps going up so I'm not confident in my ability to get out high and get back in low. I have no idea how to read the lows and highs with this shit.
Then you factor in fees. I pulled all of my coins from coinbase and moved them to binance for that reason. Binance isn't bad as the fee is like .075% at worst, so using that I would say you want to make at least 1-2% for it to be "worth it", though technically anything above the fee is profit.
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In the past I read articles about how someone put 500$ into 20 different coins or something and while he didn't lose it all, bitcoin outperformed them all. I think this will probably continue to be true with BTC/ETH but I also have doubts. No doubt those are long game but I think their inability to be a "common currency" will always prevent them from reaching wide-spread acceptance.
This is where I think things like VET/XLM(I really like Stellar) or even Algorand will be nice since they are not tokens on the ETH chain, which is one of the massive differences. I have about 2k in each of those and all are up big for me. I bought the algorand crap when it was .60 cents, it's now a 1.40$. Like anything it swings, but always slowly moving up! Same with VET and XLM(which by the way is like 5th biggest market cap and has held that for years).
It seems more and more people are wanting in on the crypto game and with the limited supply, everything is on the up and up. I just hope it doesn't crash before I make enough to buy my dream home in cash
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Rangoth
Blackwing Lair Raider
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Absolutely there and as you found out, do it on Binance
My only recommendation would be to pick 1-2 coins to do it with. Just like with stocks if you try to monitor and understand too many of them it becomes information overload. The other trick is trying to figure out where movement points and information is coming from, which I've never been able to consolidate.
I picked MANA for awhile, and I set a daily goal of 2% for trading it! Surprisingly I was actually able to do it as this thing was swinging from .95-1.05 regularly. However while I did make money(talking maybe 500$ total) I also then realized that I should have just dumped it into ETH because that went from 1700-2000 in the same damn window with the added benefit that it is probably going higher.
From then on I decided to give up on swing trading coins and go for the long haul. Here is what I do now, roughly speaking:
- 30% in BTC
- 30% in ETH
- other 40% mixed in Algorand, VET, ATOM(for staking yield), XTZ(for staking), and Stellar Lumins(XLM) now earning interest on Nexo
- I also own 1 FIL(Filecoin) lol. Bought it when it was 20$ish and now it's 170$ and I'm hating myself for not buying more, but hindsight is always 20/20
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Rajaah
Honorable Member
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Question, I'm moving things from Coinbase to Binance to get away from the horrendous fees. There was no problem moving most of my currencies, and all I have left is Ethereum. The Binance Ethereum wallet has a message saying "Make sure to only copy ERC20 tokens to this address". There's also an option for BEP2. I don't know what that means.
So long story short, is it safe to go ahead and copy my Coinbase Eth wallet over? I googled it and only got more confused.
So long story short, is it safe to go ahead and copy my Coinbase Eth wallet over? I googled it and only got more confused.
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You’re good with ERC20. I just did some a bit ago.
If nothing else just do a little test run with a small amount so you can see you’re doing right, that’s what I did the first time.
Rajaah
Honorable Member
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Thanks for letting me know. I went to test it with $50 and it had a $5 fee for the transfer. For a second I thought the transfer free was 10% and was horrified. Then I thought maybe it's a flat rate, and cranked it up to max...still $5. Whew. For a second I thought the gas prices were ridiculous.
Now I've got everything in Binance for the better fees, going to keep Coinbase around for the ease of number-checking / UI though.
Rajaah
Honorable Member
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That's an A+ tweet. I've been adding up the math on some of these things but I'm not gonna lie, I was wishing I had a list.
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Rajaah
Honorable Member
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Just wanted to drop in and congratulate the majority of people around here who woke up to portfolio ATH's today.
Yep, that was a nice surprise. Though given what I was reading yesterday about the COIN situation giving cryptos a bump today it wasn't too much of a surprise.
My strategy is to hold Ethereum since I think it's on a steady climb and not worry about the ups and downs. Bitcoin I see as more volatile just because it has a lot more people (read: inexperienced, reactionary people) involved. So I'm more likely to sell/buy BTC while leaving Eth alone. That said, Mana has been #1 for flipping (just not on Coinbase with their fees) for me.
Today I sold BTC at 63k, with the expectation that it'll drop by the end of the week after the COIN hype train is over. Today's spike was in advance of the COIN IPO tomorrow, but I don't know if that means it goes down tomorrow or goes down the next day.
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Rangoth
Blackwing Lair Raider
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You already figured it out but there is a fee to transfer ETH, so I just left it in coinbase. Especially since coinbase claims they will allow staking of ETH on their system. The fee is not from coinbase but from the ETH "gas" charge.
I did the same as you though. I moved all coins from coinbase to binance recently except those which had a big fee. Those I just left on coinbase to do whatever it is they will do.
Fadaar
That guy
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god if i had put the $13k i had saved up when i got out of the AF (2014) in BTC i could retire any time i choose right now
edit: well maybe not retire, i have some pretty fucking lofty goals. would need at least $10M if i'm gonna retire at my current age, 35.
Rajaah
Honorable Member
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I feel that. I put a large amount of savings into stocks/cryptos this year, and I had roughly the same amount of savings a year ago, so I could have had like 5x as much right now by doing the same things then instead. Which is what I wanted to do at the time, until I balked because the future of humanity felt completely uncertain for a few months between COVID and riots. Seemed like holding onto cash was the smart thing to do in case things went south and I had to bail to greener pastures.
Welp.
Rangoth
Blackwing Lair Raider
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I know this isn't a personal blog, but I just wanted to continue to share for those that are skeptical and all that. I put the 500$ish into that Nexo system as I stated above and wanted to show that I am earning money lol...getting rich quick 1 penny at a time!
You can see above that I put about 500$ in coins into the account and then swapped some to be "Nexo" coins to hit platinum level, then took out a 50$ loan(at 5.9%), which then immediately goes back into the interest pool at 10%. It's working! lol
So now the question is, do I trust it enough to move the 5ish ETH tokens there which are otherwise just sitting completely idle? Honestly not sure yet since it's only been 2-3 days since I started this thing. There is however an obvious appeal to earning 5% of my ETH/BTC coin tokens annually. Remember this is not 5% of the value of the coin, but 5% of the *coin itself*. So as they rise in price the same 0.05ETH I would earn annually(I know it more due to compounding) would be worth more than just the current price per coin / .05.
It has a massive appeal if ETH will go to 100k as some state and BTC to whatever other ungodly number.
You can see above that I put about 500$ in coins into the account and then swapped some to be "Nexo" coins to hit platinum level, then took out a 50$ loan(at 5.9%), which then immediately goes back into the interest pool at 10%. It's working! lol
So now the question is, do I trust it enough to move the 5ish ETH tokens there which are otherwise just sitting completely idle? Honestly not sure yet since it's only been 2-3 days since I started this thing. There is however an obvious appeal to earning 5% of my ETH/BTC coin tokens annually. Remember this is not 5% of the value of the coin, but 5% of the *coin itself*. So as they rise in price the same 0.05ETH I would earn annually(I know it more due to compounding) would be worth more than just the current price per coin / .05.
It has a massive appeal if ETH will go to 100k as some state and BTC to whatever other ungodly number.
