Anyone invest in crypto currency?

A few years ago, I bought 1 bitcoin for $800. A few weeks later I read that LTC was going to sky rocket and ended up trading my BTC for LTC (doh!). I still have them on hand and will sit on them for a few years I suppose. I recently saw BTC is now around $2500. Any of you holding onto or actively purchasing any crypto currencies?

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NetworkNewb

cyberguypr wrote: »

You Coinbasers need to move to GDAX to avoid those fees.

Love being in one of the states that doesn't allow GDAX for some reason!

Been sticking to using Bittrex in the mean time myself.

EANx

Seeing some pretty big volatility swings. BTC down another $4000 in the last day as I write this. This is great for people who have the instincts to play the futures market but most people get burned doing so. Hourly swings of 1% are huge opportunities to make (or lose) money. Welcome to the world of investing in something futures speculators can play with.

NetworkNewb

Christmas holiday sale!!

hurricane1091

Make it stop!

TheFORCE

All the gains are wiped out, imagine those that bought at 17 or 18k. Well I'm one of them but only with $200 on BTC. Still have 50% gain on LTC even with the big drop. Waiting for my funds to clear so I can see if i can do a quick trade on LTC with the hopes it will go back to 300.

hurricane1091

TheFORCE wrote: »

All the gains are wiped out, imagine those that bought at 17 or 18k. Well I'm one of them but only with $200 on BTC. Still have 50% gain on LTC even with the big drop. Waiting for my funds to clear so I can see if i can do a quick trade on LTC with the hopes it will go back to 300.

It will go back up. It just takes days/weeks to build up then one bad day to wipe out. I just wish we knew why it happened so we could benefit in the future.

NetworkNewb

Ya, think we are getting close to the bottom. Drops have been getting faster. Spikes = reversals.

I've been trading a lot, trying to time it right and control my losses. Down about half the gains I made this week. Thinking I might just hold now though.

5ekurity

I'm holding also LTC / XMR - playing the long game here that it will go up.

Rakurai

I believe futures just launched yesterday didn't it?

Anyway...... probably lost a little, just bought some ethereum yesterday to transfer and buy XRP to hold. Will probably wait for ethereum to go back up in a day or 2 then trade. Bought XRP in the mid .70's, so I haven't lost anything their yet.

TheFORCE

bought some LTC at 260, there was a low of 175 today, that's a big spike and volatility.

NetworkNewb

Fun times!!

NEO dropped down to a price that it was at back in August! Kinda crazy (it was overvalued for where the market was at back then though) I just bought back in it today at $55. We'll see. Everything could make nice increases right now so could be hard to go wrong! Thats my wishful thinking at least!

si20

What is everyone's thoughts on Ripple (XRP) ? I am getting it whilst it's around $1 with the hope it'll eventually jump to around $50+

NetworkNewb

si20 wrote: »

I am getting it whilst it's around $1 with the hope it'll eventually jump to around $50+

Too much circulating supply of Ripple out there. I don't believe it will ever get close to $50. There would need to be like 2 trillion dollars invested into just Ripple for that. About 4 times of what the whole crypto currency market is at right now.

YuckTheFankees

Awesome thread! Keep up the daily discussion, super useful info for the newbies.

tpatt100

This is so weird, it's supposed to be currency but all I hear online is buying and selling of the currency itself nothing about using it as a currency. I get that it's considered an asset also, I need to read up more on this.....

TechGromit

This whole cryptocurrency trading in a learning process, I wasn't aware of it, but Coinbase charges a premium for the currency they sell, not only do you have to pay the 1.5% transaction fee on every trade, there coinbase's price is higher then the current market price. Picked up 10 shares of LTE for 321 each, when coinmarketcap.com said it was $312. I thought there was a delay in the prices reporting from Coimmarketcap, and that perhaps coinbase had more up to date market information, but this isn't the case. Overpaid big time, working on setting up a account of GDAX, which is the exchange Coinbase makes there trades on, to make future trades at market price, not marked up price.

NetworkNewb

Yeaaaaa, the prices are little higher. I've realized that too. But when you cash out the prices are higher too. So it kinda cancels itself out. The fees of Coinbase are where they screw you.

JDMurray

NetworkNewb wrote: »

The fees of Coinbase are where they screw you.

So can the fees at GDAX be any better? It seems that the exchanges would change a premium too because they cater to "real" virtual currency investors and not to hobbyists. What's a better exchange for low fees and still have access to all the popular crypto-currencies?

boxerboy1168

NetworkNewb wrote: »

Too much circulating supply of Ripple out there. I don't believe it will ever get close to $50. There would need to be like 2 trillion dollars invested into just Ripple for that. About 4 times of what the whole crypto currency market is at right now.

isn't that why it's actually going to be more stable as it takes more market share to manipulate?

if you buy in at $1 and sell at 10 it's still an incredible gain and with Ripple it's more likely to be accept by the larger investment community as it's centralized

TheFORCE

JDMurray wrote: »

So can the fees at GDAX be any better? It seems that the exchanges would change a premium too because they cater to "real" virtual currency investors and not to hobbyists. What's a better exchange for low fees and still have access to all the popular crypto-currencies?

i beleive gdax doesnt charge any fees. i sold this morning thru gdax and looked at the order details and there were 0 fees taken.

so far there isn't 1 exchange that has all currencies.

NetworkNewb

JDMurray wrote: »

So can the fees at GDAX be any better? It seems that the exchanges would change a premium too because they cater to "real" virtual currency investors and not to hobbyists. What's a better exchange for low fees and still have access to all the popular crypto-currencies?

There are only a few places that let you buy BTC (or ETH, BCC, LTC) for USD. One that offers lower fees would be Gemini. Don't know the fees exactly offhand but they only do ETH and BTC atm right now though.

GDAX has good fees as far as trading for alts though. I believe some are free if you set the price? GDAX isn't allowed in my state for some reason still so I couldn't really tell you... its just getting the BTC or ETH for USD is where Coinbase charges more than others.

NetworkNewb

boxerboy1168 wrote: »

isn't that why it's actually going to be more stable as it takes more market share to manipulate?if you buy in at $1 and sell at 10 it's still an incredible gain and with Ripple it's more likely to be accept by the larger investment community as it's centralized

Yea, you could think of it that way. I just don't know of a lot of things adopting Ripple (compared to BTC and ETH) and think it could be a little overpriced from that current pump. I get it probably will be more stable though like you say. Even to get to $10 it has to be more invested in than twice the amount people have invested in Bitcoin right now though.

Personally I just think it just has a very high Market Cap for where it is at right now. If it ever hits $10 I would be surprised, but I don't really know and is just my guess.

I lost all my gains I had this week in the last couple days (back to even) so I would take my own opinion with a grain of salt! I pulled my money out and waiting til I see a good turn around from this down trend. Hopefully will be soon!

Edit: just to add if your looking for a good place to look at graphs of the currencies I recommend checking out tradingview.com . It can be a little intimidating at first but once you figure out how to look at things it can definitely be interesting. Adding "indicators" like "TTM Squeeze", "Volume", "Fibonacci Levels" and "AK Trend" are some I like. Definitely watch some youtube videos on it if that is something that interests you. Realize I'm probably not making sense to most people... And I'm still learning so don't expect me to explain what it all means very well.

TradingView.jpg

EANx

I've always enjoyed fast stochastics as well as overlaying a slow moving average over a fast one.

There's a saying in the market: "The bulls make money, the bears make money and the sheep get slaughtered."

TheFORCE

Setup alerts in Coinbase and set your order based on your triggers.

For example i set an alert for below 269, when it triggered i setup my limit buy for 268. the order was filled soon after and I paid 0 fees because its a limit order. Then i set up another limit sell fpr 272 which was filled about 20 minutes later and again I paid 0 fees because its a limit order.

NetworkNewb

TheFORCE wrote: »

Setup alerts in Coinbase and set your order based on your triggers.

You mean on GDAX right?

TheFORCE

NetworkNewb wrote: »

You mean on GDAX right?

No, I mean Coinbase. In the Coinbase app you can setup alerts for the 3 currencies. More convenient because you get notifications on your phone. then place your orders thru GDAX.

NetworkNewb

Right, I thought you meant you were placing free orders on Coinbase. Like I can access Coinbase in my state, but for some reason GDAX is not allowed here

TechGromit

NetworkNewb wrote: »

I've realized that too. But when you cash out the prices are higher too. So it kinda cancels itself out. The fees of Coinbase are where they screw you.

Not what I'm seeing here, Current market price on coinmarketcap for LTE for 12/27/2017 at 7:35pm EST is $271.30 and only $263.10 on Coinbase, that's an $8 difference, not in your favor if you want to sell. If you want to buy then I guess it is a good deal, then they get there 1.5% fees on top of that. Unfortunately Coinbase is a necessary evil if you converting US dollars to Cyptocurrency, or back into Cash, but not for other trades.

Kasor

Just be careful about spend the time and extra cash on cryptocurrency. For fun, do it. It was one of the big topic that discussed at my work. However, we have to weight in the risk vs. finance management.

TechGromit

You don't have to tell me, I got all my money tied up in Beanies Babies, it's a sure thing.