Official Bitcoin Thread

I'm down for the discord.

Ripple applied for a trademark: "runs on ripple"

Can't wait to see that around irl :pimp:
 
I know I’m late, but I had no clue APMEX started accepting BTC as payment and it’s 3% cheaper than paying with a credit card or PayPal :pimp:.
 
Videos like that are so interesting to me. I'm not an investment guy. I'm the simpleton that pays someone to manage my money. There's a few companies that I feel I know a little about, or I'm interested in, so I'll ask him to put some in them. I did that with Nike about a year ago. Adidas was the waive and Nike's stock was down but I felt like they'd bounce back and they have. When it comes to crypto, I just have a hard time wrapping my head around predicting it, especially in the short term. Watching that video, I kept asking what he's basing it on. For him, $6k is the magic number. Even saying theres an 80% chance it'll go to $4k if it breaks $6k. But why? That's the part I dont get. I guess I'm just so used to stocks that I'm used to their value being influenced by the company's production and we just dont have that to look at with crypto. Now if Amazon announced tomorrow that you'd get a 5% discount on all orders using Bitcoin, I would expect Bitcoin to see a huge jump in value. But just off a chart? The normal tools I've used to value something just dont apply here and that's what has been so hard for me to grasp. Honestly to me it feels like even someone like him is just guessing. I recognize he's probably much smarter and knowledgable about this than me though so thats why I just sit and scratch my head. I'm a believer in crypto long term but short term investing just seems like roulette to me.
 
dblplay1212 said:
Videos like that are so interesting to me. I'm not an investment guy. I'm the simpleton that pays someone to manage my money. There's a few companies that I feel I know a little about, or I'm interested in, so I'll ask him to put some in them. I did that with Nike about a year ago. Adidas was the waive and Nike's stock was down but I felt like they'd bounce back and they have. When it comes to crypto, I just have a hard time wrapping my head around predicting it, especially in the short term. Watching that video, I kept asking what he's basing it on. For him, $6k is the magic number. Even saying theres an 80% chance it'll go to $4k if it breaks $6k. But why? That's the part I dont get. I guess I'm just so used to stocks that I'm used to their value being influenced by the company's production and we just dont have that to look at with crypto. Now if Amazon announced tomorrow that you'd get a 5% discount on all orders using Bitcoin, I would expect Bitcoin to see a huge jump in value. But just off a chart? The normal tools I've used to value something just dont apply here and that's what has been so hard for me to grasp. Honestly to me it feels like even someone like him is just guessing. I recognize he's probably much smarter and knowledgable about this than me though so thats why I just sit and scratch my head. I'm a believer in crypto long term but short term investing just seems like roulette to me.
Click to expand...

Spot on & congrats on all your success!!
I think he's basing 6k on Fibonacci Retracement...6k to 5k to 3k (if BTC dips)
 
alright guys, been into crypto since the last bull run... got slaughtered but im still in the game hodl'ing stacking and diversifying my portfolio... I have a coinbase account, robinhood, binance and yobit...

moving crypto around is pretty easy and self explanatory. But selling and getting the money to my bank account is a question that i have...

lets say ltc goes to 10,000 ... i want to sell 3 ltc... that 30,000k... how would i get that out all at one time from coinbase or a similar platform????
 
dblplay1212 said:
Videos like that are so interesting to me. I'm not an investment guy. I'm the simpleton that pays someone to manage my money. There's a few companies that I feel I know a little about, or I'm interested in, so I'll ask him to put some in them. I did that with Nike about a year ago. Adidas was the waive and Nike's stock was down but I felt like they'd bounce back and they have. When it comes to crypto, I just have a hard time wrapping my head around predicting it, especially in the short term. Watching that video, I kept asking what he's basing it on. For him, $6k is the magic number. Even saying theres an 80% chance it'll go to $4k if it breaks $6k. But why? That's the part I dont get. I guess I'm just so used to stocks that I'm used to their value being influenced by the company's production and we just dont have that to look at with crypto. Now if Amazon announced tomorrow that you'd get a 5% discount on all orders using Bitcoin, I would expect Bitcoin to see a huge jump in value. But just off a chart? The normal tools I've used to value something just dont apply here and that's what has been so hard for me to grasp. Honestly to me it feels like even someone like him is just guessing. I recognize he's probably much smarter and knowledgable about this than me though so thats why I just sit and scratch my head. I'm a believer in crypto long term but short term investing just seems like roulette to me.
Click to expand...

Look up some technical analysis videos; stocks follow the same thing. The situation you provided was news driven price action. The more familiar you get with certain patterns the more you’ll understand. It’s basically looking at indicators such as price action, volume, support and resistance lines, etc to make an informed decision on what’s going to happen. Of course, you’ll never have full information before making a trade, but certain spots have a higher risk to reward ratio than others; that’s what they look for.
 
sharpshooter718 said:
alright guys, been into crypto since the last bull run... got slaughtered but im still in the game hodl'ing stacking and diversifying my portfolio... I have a coinbase account, robinhood, binance and yobit...

moving crypto around is pretty easy and self explanatory. But selling and getting the money to my bank account is a question that i have...

lets say ltc goes to 10,000 ... i want to sell 3 ltc... that 30,000k... how would i get that out all at one time from coinbase or a similar platform????
Click to expand...

Coinbase easy. This was my withdrawal earlier this year......yah the fee was expensive, but whatevs.....seamless, got it next day to my BOFA account. WORTH EVERY PENNY :smile:

Screenshot 2018-07-23 at 8.42.24 AM.png
 
allreds said:
How does crypto money get taxed?
Click to expand...

ask your local tax guy. all grey area 2017 according to my tax and financial advisor...but 2018 will be new regulatory stuff. From what i know, it'll be capital gains (15%) plus intra-trading (not sure how they'll get any info from outside exchanges, especially DEX) but i'm sure they will ask that trading crypto to crypto will be taxed (good luck)
 
I really hope this is the start of another bull run :lol:. I reallocated most of my portfolio from alt coins to BTC. Honestly, I know there’s more upside with the alt coins, but I figured BTC is a slightly more safe play and I’m a b**** right now.
 
degenerate423 said:
I really hope this is the start of another bull run :lol:. I reallocated most of my portfolio from alt coins to BTC. Honestly, I know there’s more upside with the alt coins, but I figured BTC is a slightly more safe play and I’m a b**** right now.
Click to expand...

I think that's what everyone is doing cuz my alt's are being wrecked at the moment.
 
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