ESOC Crypto Corner

[Gendarme]

50%? Depends on when you bought, lol. Also I'd rather sell and buy again after the drop as Mart said. Right now it seems a lot more hyped than it was three days ago. Very unstable at the moment I think.

[lejend]

My sources tell me you began investing in late November. I think the price was 9-10k at the time.

What if it doesn't drop?

[Gendarme]

I invested 20th when it was $8,200. I won't sell if it won't drop.

I am quite certain it will drop quickly eventually, but it is always very hard to know when. I am watching very closely to be ready.

[Goodspeed]

You can't really be ready for that. It might drop 1k and you draw the conclusion it's going to drop hard, sell, but then it bounces back and you ended up selling at the low point.

A good strategy if you think it's going to drop before reaching X is to sell when it gets within ~10% of X, and wait for it to drop then buy when it bounces back, or (in case your prediction turns out wrong) rebuy at X and count your losses.

But at this point it's almost impossible to predict what X is. I thought 13-15k but that seems unlikely now. BTC market has never really followed the rules anyway. I would probably just hold if I were you.

I'm looking at starting an account on Predictious. Seems like fun. They have a nice API so it could turn into a fun Python project. BTC is the currency they use so I'll actually have to get some.
The issue as always is time

[Gendarme]

I actually sold. I am not comfortable not being able to follow it live and I am busy right now. The market went too crazy after it hit $15,000. Really felt like it was taking its last breaths.

[Goodspeed]

When are you buying back in case it doesn't drop?
You have to make a deal with yourself to do it or you end up never buying back and suddenly its 50k

[Gendarme]

It can't remain crazy like this. When it calms I'll get in again. I expect it to drop before getting calm, however.

By crazy I mean all the craziness of the daytraders. I was following it live for hours each day recently.

[Goodspeed]

How is it crazy?

[Gendarme]

Extreme fluctuations and high volume.

[Goodspeed]

Hasn't that happened a lot throughout November?

[dave_12]

Yes

[Gendarme]

https://blockchain.info/charts/trade-volume

You can see that that huge spike coincided with the previous temporary crash.

[Snuden]

My initial strategy was to pull out, whatever I invested initially. That left me with profit, which I now use to generate more profit.
I do however withdraw a little once in a while, but for all I care the hole thing could collapse right now and I would still have made a decent ROI.

Meanwhile... Well on the way to $16K

[Gendarme]

I might have to join an exchange instead of trading papers on the stock. Only open 40 hours per week. :/

[Snuden]

I TOLD YOU SO!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[Gendarme]

I didn't expect such craziness.

[Snuden]

Look at Poloniex.com
I have used it for 8-9 months without issues.

[Gendarme]

I am not interested in other cryptos. I want to trade BTC with something stable. IIRC Poloniex doesn't accept USD.

[Snuden]

So you say... I think you are missing out on a lot of potential profit and a whole lot of fun :)

[lejend]

@Snuden keep us updated on any coins with potential profitability.

[Snuden]

@Snuden keep us updated on any coins with potential profitability.

I would prefer not to be honest
I don't mind sharing what I am personally doing, but I am far from the right person to give advice on coins with potential profit.

[Goodspeed]

I might have to join an exchange instead of trading papers on the stock. Only open 40 hours per week. :/

Only if you want to daytrade which honestly at this point, in the case of BTC I don't know if it's a good idea. From what I've read in recent days the market has proven quite unpredictable.

Speaking of, when are you buying back?
Don't let that shit get to 50k waiting for the price to drop.

[deleted_user0]

@Snuden keep us updated on any coins with potential profitability.

I would prefer not to be honest
I don't mind sharing what I am personally doing, but I am far from the right person to give advice on coins with potential profit.

I can attest to this! Kid lost me billions and billions and billions and billions.

[lejend]

@Snuden keep us updated on any coins with potential profitability.

I would prefer not to be honest
I don't mind sharing what I am personally doing, but I am far from the right person to give advice on coins with potential profit.

Nobody is going t invest just because you mentioned something. People will still do the research on it. It's just more information.

[Snuden]

@Snuden keep us updated on any coins with potential profitability.

I would prefer not to be honest
I don't mind sharing what I am personally doing, but I am far from the right person to give advice on coins with potential profit.

Nobody is going t invest just because you mentioned something. People will still do the research on it. It's just more information.

For long term I think IOTA is good. Fortune 500 companies are involved and (as I see it) actually could be great for online merchants, due to 0% fee and instant transactions.