Australian (ASX) Stock Market Forum

Bitcoin and cryptocurrency trading thread

Jump to new
As of 2020 July 15, Wednesday current price of BTC is $9258.740 according to https://changehero.io/ exchange platform data. And their data indicates that the asset price has been in a downtrend for the past 1 year. It is a good time to purchase BTC.
 
is it just a matter of going somewhere like coin base or other exchange, and easily enough buying a PART of a bitcoin, say 1k? it' s not like currency where you gotta use leverage right, but more like a share (no debt)?
 
grah33 said:
is it just a matter of going somewhere like coin base or other exchange, and easily enough buying a PART of a bitcoin, say 1k? it' s not like currency where you gotta use leverage right, but more like a share (no debt)?
Click to expand...
I use BTCmarkets.net , you transfer money then buy bitcoin..easy
During that phase, you are exposed if the exchange collapses or get hacked, so once you have bought your bitcoin, i i recomme you transfer them to a usb ledger, a physical one
Start with a small amount and imho, do not bet the farm on this would be my "advice"
There is no bitcoin bitcoin if you loose your key password etc...or transfer to the wrong person.
It is still a non user friendly pretty technical environment
 
qldfrog said:
Btc has been faring quite well this year as i see it
Click to expand...
I've got BTC as well, but Ether seems to be leading the price action of late.

There seems to be lots of arguments about both instruments which I really don't quite 100% understand. Ether and the whole Etherium 2.0/Defi thing, Bitcoin and transactional costs and overall clunkiness.

I'll be a Bitcoin HODLer (I think), but keeping hold of Ether for now as well.
 
wayneL said:
Ether a solid breakout over 400? Or another headfake?
Click to expand...

My buy stop order at $400 looks better than expected this am!!!

I have dipped my toe in to crypto over the last few months.

This place gives you HUGE margin. I have just started playing around with @Skate BBO system he posted.

https://www.kraken.com/

And this is a good way to automate the purchase on some kind of schedule

https://www.getamber.io/
 
cointelegraph.com

Bitcoin relief rally is underway — Can BTC price reclaim $18K?

Bitcoin price is rallying this weekend but is this just a relief rally or can BTC regain bullish momentum?
cointelegraph.com cointelegraph.com

Bitcoin’s price frequently takes the staircase up and the elevator down. When this happens, the daily timeframe marks the crucial support levels to hold, through which the zone around $16,000 is a massive area to hold.
 
Last edited:
cointelegraph.com

Bitcoin analysts explain what's next in the aftermath of BTC plunging to $16.2K

Analysts and traders discuss both bull and bear cases for Bitcoin after BTC's sudden price crash to $16,200
cointelegraph.com cointelegraph.com

A pseudonymous trader known as “Byzantine General” noted that the liquidity for Bitcoin is now in the $17,500 to $19,000 range. Liquidity emerges when traders in the futures market sway to one side of the market. Since the liquidity is higher up, it indicates that traders are likely shorting BTC and the liquidation prices of overleveraged shorts are located around $18,000.
 

Bloomberg - Are you a robot?

www.bloomberg.com
The Bitcoin algorithm demands increasing amounts of computational power to validate transactions. If it were a country, its annualized estimated carbon footprint would be comparable to New Zealand at about 37 million tons of carbon dioxide. One Bitcoin transaction would generate the CO2 equivalent to 706,765 swipes of a Visa credit card, according to Digiconomist’s closely-followed index, albeit with none of the convenience of plastic. Add in Bitcoin’s primary use as a speculative instrument and the frequent regulatory warnings it draws, and it’s hard to imagine it ever scoring high on ESG.
 
noirua said:

Bloomberg - Are you a robot?

www.bloomberg.com
The Bitcoin algorithm demands increasing amounts of computational power to validate transactions. If it were a country, its annualized estimated carbon footprint would be comparable to New Zealand at about 37 million tons of carbon dioxide. One Bitcoin transaction would generate the CO2 equivalent to 706,765 swipes of a Visa credit card, according to Digiconomist’s closely-followed index, albeit with none of the convenience of plastic. Add in Bitcoin’s primary use as a speculative instrument and the frequent regulatory warnings it draws, and it’s hard to imagine it ever scoring high on ESG.
Click to expand...

These comparisons between incumbent fiat transaction mechanisms and Bitcoin transactions highlighting the energy and environmental costs make me suspicious whether a true comparison is being made. For instance, whilst the BTC transaction uses significant compute and associated energy cost, there are no indirect costs beyond that.

In the VISA transaction example, for the "swipe" to be processed, the energy/environmental cost of the infrastructure behind the scenes must be taken into account. The energy usage of the brick & mortar facility housing the employees performing the work, the associated costs of managing fraud, debt collection and identity verification for example.
 
cointelegraph.com

Crypto Crime on the Rise — Good Odds of 2020 Becoming a Record-Breaker

Experts believe that a more holistic crypto ecosystem, especially one that is more AML-centric, is needed to help prevent the spread of crypto scams in 2020
cointelegraph.com cointelegraph.com
“Even in spite of the growing availability of privacy coins like Monero and Zcash, criminals continue to use Bitcoin because of the abundance of Bitcoin-to-fiat offramps. Banks and money service businesses should pay attention to high-risk transactions originating from BATMs that lack proper AML compliance.”
Click to expand...
 
Guys all the kool kids wanna do the latest things like you wanted to play with yoyos, totem tennis etc. These days the young ones are on their phones all the time so it makes sense for them. But trading cryptos is the super hard end of the business the True Range for many cryptos is far higher than for the DOW, DAX only the HK50 is comparable. Check out the definition here. The https://www.investopedia.com/terms/a/atr.asp
The DOW, DAX true range probably only ever gets up to a max of 10, HK50 100 to 250 and bitcoin from 250-500. So your algos need to be very good to trade them. I have been developing ML based bots but also bots that use algos that make minimal assumptions about the direction of the markets, and they can trade on many different markets although the true range on currencies is very low so they are really hardly worth trading. I am looking for traders to evaluate my products, I would like to become a MAM or PAM broker.
 
greggles said:
In a very real sense, all investing and trading is gambling. Even if you buy a blue chip for the long term, you are simply betting it will go up. You could be right, you could be wrong. Blue chips are simply the favourites while speccies are the long shots that pay out better. It's all still betting on an uncertain outcome. So, in the end it's just gambling. There are good gamblers and bad gamblers, just like there are good investors and bad investors.

Nothing wrong with having a punt. :D
Click to expand...
But the return on the stock market is so low and slow now on blue chips. That is why trading indices etc is far better.
 
qldfrog said:
I use BTCmarkets.net , you transfer money then buy bitcoin..easy
During that phase, you are exposed if the exchange collapses or get hacked, so once you have bought your bitcoin, i i recomme you transfer them to a usb ledger, a physical one
Start with a small amount and imho, do not bet the farm on this would be my "advice"
There is no bitcoin bitcoin if you loose your key password etc...or transfer to the wrong person.
It is still a non user friendly pretty technical environment
Click to expand...
"transfer them to a physical usb ledger", or something like that... can u explain what's happening here?
i buy it and i get a key/password that i use . my coins are in the blockchain system right, rather than on a drive? can i write down the password and hide it?

i guess old investors aren't too keen, but we're investing cause we think it's a great technology that should be adopted in the future
 
grah33 said:
"transfer them to a physical usb ledger", or something like that... can u explain what's happening here?
i buy it and i get a key/password that i use . my coins are in the blockchain system right, rather than on a drive? can i write down the password and hide it?

i guess old investors aren't too keen, but we're investing cause we think it's a great technology that should be adopted in the future
Click to expand...
indeed, it is VERY easy to "buy" bitcoins and crypto currencies on BTC market or any other platform, but you do not have any key, you just buy and sell them, if anyone get into your account (finding your password or hacking into the platform, they can then transfer your crypto currencies (steal them) this has happened in other platforms in the past and what can you do then?
Same as banks, but cryptos are harder to track by law forces, and the crypto platform exchanges do not have the backbone of CBA or other banks: we can all reasonably assume that if NAB get hacked and your account is emptied, you will get your money back; not with BTC market or any of the others..
So I move some of my cryptos on a USB ledger.
Is it safer?
well it is at risk of thief, fire, physical loss, etc but that is my responsibility.
I would not keep sizeable amount of money under crypto form stored by a platform for too long;
Just my view, very open to discussion there
I would VERY MUCH like to be able to move my BTC in a safe repository: imagine, sending to UBS , against a yearly fee..I would jump on the opportunity, but would have to be a trusted bank in a trusted legislation (aka not Australia, EU or US of A)
 

Similar threads

DB008
Crypto USDT - US Tether
Replies
2
Views
4K
Dona Ferentes
Dona Ferentes
K
My Trading System
2 3
Replies
51
Views
19K
MRC & Co
MRC & Co
Top