How to trade cryptos

This is a discussion on How to trade cryptos within the Cryptocurrencies forums, part of the Markets category; Originally Posted by Pat494 Hey - I like the sound of IOTA Sell bitcoin and buy IOTA. And why :- ...

Reply
 
LinkBack Thread Tools Search this Thread
Old Dec 13, 2017, 5:37pm   #16
 
Garvo's Avatar
Joined Jun 2007
Garvo started this thread
Quote:
Originally Posted by Pat494 View Post
Hey - I like the sound of IOTA
Sell bitcoin and buy IOTA.
And why :-
No power wastage costs of mining.
Free transactions
Buys small like a coffee is OK while BTC buys expensive stuff
It uses an upgraded method called the tangle. No block chain.


I liked the Camacho's analysis, in fact is a great technology.

To be fair, there are other DAG techs around there: GBYTES and XRB, they also have potential, but IOTA has a the Dream Team of the crypto working on, and also they are involved in the elaboration of hardware, so it's an amazing group there.

I have a lot of my mouth in this tech, and Im holding heavy in this asset.

---

You can also watch about GBYTES:

https://coinmarketcap.com/currencies/byteball/

and about

XRB: https://coinmarketcap.com/currencies/raiblocks/

Both also use DAG technology.
__________________
Enthusiast
Garvo is offline   Reply With Quote
Old Dec 13, 2017, 5:56pm   #17
 
Pat494's Avatar
Joined Mar 2004
It seems such a roundabout method to buy IOTA. I mean one has to buy Ethereum ( or bitcoin) and then buy IOTA with your Ethereum coins.

Me - I am dithering. I am more impressed by IOTA than Bitcoin and it's cheaper but as Garvo says there are others using the new tech.

__________________
Imagination is more important than knowledge.
Einstein
Imagination should be used constructively on the firm basis of knowledge.
Me
Pat494 is online now   Reply With Quote
Old Dec 14, 2017, 2:24pm   #18
 
Garvo's Avatar
Joined Jun 2007
Garvo started this thread
Quote:
First, what would $100,000 bitcoin mean?

There are currently about 16.7 million bitcoins in circulation, so a $100,000 per-coin value implies a total valuation of $1.67 trillion for all bitcoins. This is certainly a large sum of money, but it isn't unattainable by any means.

For reference, the global money supply is estimated to be $84 trillion, and there is estimated to be $280 trillion of total wealth in the world. So if just 0.6% of all global wealth was stored in the form of bitcoin, it would translate to a $100,000 bitcoin price. This would be a big leap from the current value of bitcoin, but if the digital currency starts to gain serious traction, it's not outside the realm of possibilities.

With that in mind, here are four catalysts that could propel bitcoin from its current level of around $17,000 as of this writing to a six-figure price tag.
Source: Motley Fool

How to trade cryptos? Whitoutfear. There is much to win and far little to loose.
__________________
Enthusiast
Garvo is offline   Reply With Quote
Old Dec 14, 2017, 6:07pm   #19
The Staff are paid members that perform various roles such as editorial, advertising, support or technical work.
 
timsk's Avatar
Joined Mar 2002
Based on Garvo's posts - as he appears to have a firm grasp on the topic - the obvious trade to take IMO is to short Bitcoin and go long Iota. That way one gets the relative safety of a pairs trade whilst having some exposure to crytpos. Disaster would only really strike if Bitcoin's bubble is a long way from bursting (and it continues to skyrocket) while Iota tanks. As for the mechanics of executing such a trade - I have no idea!
Tim.
__________________
I'm New To T2W - Where Do I Start? - a must read for anyone new to T2W
I'm New To TRADING – Where Do I Start? - a must read for anyone new to TRADING
The Trading Plan Template - a must read for anyone without a proper TRADING PLAN
Please note: I am part of T2W Admin' Staff - I am NOT a Moderator!
timsk is offline   Reply With Quote
Old Dec 14, 2017, 6:09pm   #20
 
Pat494's Avatar
Joined Mar 2004
Quote:
Originally Posted by timsk View Post
Based on Garvo's posts - as he appears to have a firm grasp on the topic - the obvious trade to take IMO is to short Bitcoin and go long Iota. That way one gets the relative safety of a pairs trade whilst having some exposure to crytpos. Disaster would only really strike if Bitcoin's bubble is a long way from bursting (and it continues to skyrocket) while Iota tanks. As for the mechanics of executing such a trade - I have no idea!
Tim.
errrrrrrr yes maybe
I think I will sit it out.
__________________
Imagination is more important than knowledge.
Einstein
Imagination should be used constructively on the firm basis of knowledge.
Me
Pat494 is online now   Reply With Quote
Old Dec 14, 2017, 6:28pm   #21
Global Moderators are volunteer members with senior administrative powers to moderate all forums.
 
counter_violent's Avatar
Joined Aug 2004
Quote:
Originally Posted by timsk View Post
Based on Garvo's posts - as he appears to have a firm grasp on the topic - the obvious trade to take IMO is to short Bitcoin and go long Iota. That way one gets the relative safety of a pairs trade whilst having some exposure to crytpos. Disaster would only really strike if Bitcoin's bubble is a long way from bursting (and it continues to skyrocket) while Iota tanks. As for the mechanics of executing such a trade - I have no idea!
Tim.
No absolutely not. It's not possible to match and pairs trade different cryptos. I've seen plenty of instances where things just go off and others go off in a different direction, whilst others sit still and do nothing. This is not a correlated market space.

https://coinmarketcap.com/all/views/all/
__________________
Spreading the madness across this suite of forums.

Those are my principles and if you don't like them, well..... I have others.

Kin Dissers Everywhere

We are all leavers now

Last edited by counter_violent; Dec 14, 2017 at 6:34pm.
counter_violent is offline   Reply With Quote
Old Dec 14, 2017, 6:59pm   #22
 
Garvo's Avatar
Joined Jun 2007
Garvo started this thread
Quote:
Originally Posted by timsk View Post
Based on Garvo's posts - as he appears to have a firm grasp on the topic - the obvious trade to take IMO is to short Bitcoin and go long Iota. That way one gets the relative safety of a pairs trade whilst having some exposure to crytpos. Disaster would only really strike if Bitcoin's bubble is a long way from bursting (and it continues to skyrocket) while Iota tanks. As for the mechanics of executing such a trade - I have no idea!
Tim.
Indeed, in the long term I am with IOTA and my vision is more moderate about the cryptoassets that many involved.
Of course I have exposure to several cryptos, and start with bitcoin, but I found technology that is more compatible with my ideology.

You have to understand that bitcoin is a movement of cypherpunks that begins to germinate shortly after the crash of 2007-2008 and the bailouts that the central banks of the world executed.

It seems that few remember the monstrous that this crisis was, perhaps not because of its social impact but because of what it showed about the banking system.

In general terms we could say that bitcoin is nothing more than an application to replace centralized banking. In its origins it emerges as a peer to peer cash system and an anarcho-capitalist alternative to traditional banking.

This is mainly observed in the countries where the crisis was strongest: Greece, Cyprus, Spain, USA.

Soon, some begin to see the bitcoin not only as an application to replace but to destroy the entire FIAT system: this movement of survivors in the beginning fixed on metals and bet on the return of gold and silver and the disappearance of the dollar . They believed in bunkers, acquire firearms and the creation of anarchist communities, their greatest exponent is perhaps DollarVigilante.

Another current believes that hyperbitcoinization will come and considers that at one point a collapse like that of the Weimar Republic will be inevitable for banks. Although his way of thinking is radical, it seems only to focus on the economy. Many bitcoin owners on a large scale are willing to "hodl" their bitcoins until this happens.

Of course these two groups of people do not see bitcoin as an asset but as a means to a social revolution, they do not really have an interest in bitcoin neither as a means of monetary exchange nor as a store of value.

A third group considers bitcoin as a novel tool that eradicates all the economic problems of FIAT ... this group grew strong in 2013-2016 but began to be divided into two subgroups:

one that considers that bitcoin should be a medium of exchange
one that considers that the bitcoin will be a store of value -a kind-gold standard-

Currently there is a cleanup of sides and we do not know who will win yet. Personally I do not know if there will be hyperbitcoinization or if it will be the new gold standard.

But if I consider that this technology has revolutionized the way in which accounting is carried out. And this, in the future, will be the foundation of the IoT and eventually the Internet of Everything.

That's where IOTA comes in and this is where my thinking is, a conservative market of 20-30 trillion in the medium term -2-3 years- and much more in the long term.

However, as an exchange technology, cryptoassets could perfectly occupy those 100 trillion that exist in FIAT. I am not a fortune teller and I can not predict if it will be Bitcoin or Ether or Bitcoin Cash or DASH or Ripple. So my short-term exposure is varied but definitely focused more on the cryptos as a means of exchange -DASH, Bitcoin Cash, Monero, Litecoin, Ripple-. Anyway, if it turns out to be a gold standard, most of the rest of the crypto are exposed to bitcoin and not dollar.
__________________
Enthusiast
Garvo is offline   Reply With Quote
Thanks! The following members like this post: counter_violent , timsk
Old Dec 15, 2017, 1:48pm   #23
The Staff are paid members that perform various roles such as editorial, advertising, support or technical work.
 
timsk's Avatar
Joined Mar 2002
Interesting replies - thanks everyone.

Surely the biggest challenge facing all cryptos is their shear complexity? I struggle to see any of them replacing good ol' lsd as my late mum used to call it. There's no way that the average wo/man in the street is going to get their heads around block chains, miners and tangles etc. and, if they don't have a basic understanding of what a bitcoin or Iota (or whatever) is, they'll never willingly adopt them. Consequently, cryptos will be niche currencies confined to the techie geek digital space. Based on Garvo's posts and the video links - I like the sound of Iota the best but, for the reaons given, I can't envision a time when I buy a round of drinks in the pub using it. Until a solution to this problem can be found, traditional paper currency is here to stay and it's for this reason that, IMO, the BoE, ECB and Federal Reserve etc. won't be worried anytime soon about the growth of cryptos.
Tim.
__________________
I'm New To T2W - Where Do I Start? - a must read for anyone new to T2W
I'm New To TRADING – Where Do I Start? - a must read for anyone new to TRADING
The Trading Plan Template - a must read for anyone without a proper TRADING PLAN
Please note: I am part of T2W Admin' Staff - I am NOT a Moderator!
timsk is offline   Reply With Quote
Thanks! The following members like this post: Quantt
Old Dec 15, 2017, 5:32pm   #24
Global Moderators are volunteer members with senior administrative powers to moderate all forums.
 
counter_violent's Avatar
Joined Aug 2004
Quote:
Originally Posted by timsk View Post
Interesting replies - thanks everyone.

Surely the biggest challenge facing all cryptos is their shear complexity? I struggle to see any of them replacing good ol' lsd as my late mum used to call it. There's no way that the average wo/man in the street is going to get their heads around block chains, miners and tangles etc. and, if they don't have a basic understanding of what a bitcoin or Iota (or whatever) is, they'll never willingly adopt them. Consequently, cryptos will be niche currencies confined to the techie geek digital space. Based on Garvo's posts and the video links - I like the sound of Iota the best but, for the reaons given, I can't envision a time when I buy a round of drinks in the pub using it. Until a solution to this problem can be found, traditional paper currency is here to stay and it's for this reason that, IMO, the BoE, ECB and Federal Reserve etc. won't be worried anytime soon about the growth of cryptos.
Tim.
That's how all none tec savvy oldies think including us, but the point is, the kids don't think like this. I think that's why cryptos will take off.
2018 is going to be awesome I recon.

As to BOE and Fed, the more people that begin to realise that they are being shafted by fiats, then opinions might shift. We do after all live in a Trump Brexit world.
__________________
Spreading the madness across this suite of forums.

Those are my principles and if you don't like them, well..... I have others.

Kin Dissers Everywhere

We are all leavers now
counter_violent is offline   Reply With Quote
Old Dec 15, 2017, 5:41pm   #25
The Staff are paid members that perform various roles such as editorial, advertising, support or technical work.
 
timsk's Avatar
Joined Mar 2002
Quote:
Originally Posted by counter_violent View Post
That's how all none tec savvy oldies think including us, but the point is, the kids don't think like this. I think that's why cryptos will take off.
2018 is going to be awesome I recon.

As to BOE and Fed, the more people that begin to realise that they are being shafted by fiats, then opinions might shift. We do after all live in a Trump Brexit world.
Hiya c_v,
Yeah, I do take your point and, indeed, agree with it broadly speaking. However, I think it'll take several generations - long after the likes of you and I are pushing up daisies - before cryptos are accepted as the norm in daily life.

I have to say that I would happily take a punt on Iota - by which I mean buy 'n hold - but am put off by the very restrictive and convoluted means of acquiring them.
Tim.
__________________
I'm New To T2W - Where Do I Start? - a must read for anyone new to T2W
I'm New To TRADING – Where Do I Start? - a must read for anyone new to TRADING
The Trading Plan Template - a must read for anyone without a proper TRADING PLAN
Please note: I am part of T2W Admin' Staff - I am NOT a Moderator!
timsk is offline   Reply With Quote
Thanks! The following members like this post: Quantt
Old Dec 15, 2017, 6:04pm   #26
Global Moderators are volunteer members with senior administrative powers to moderate all forums.
 
counter_violent's Avatar
Joined Aug 2004
Quote:
Originally Posted by timsk View Post
Hiya c_v,
Yeah, I do take your point and, indeed, agree with it broadly speaking. However, I think it'll take several generations - long after the likes of you and I are pushing up daisies - before cryptos are accepted as the norm in daily life.

I have to say that I would happily take a punt on Iota - by which I mean buy 'n hold - but am put off by the very restrictive and convoluted means of acquiring them.
Tim.
Joking apart, why don't you buy some and start a thread documenting the process. T2W needs to embrace this new world. Sharky told me so, that's why we have a crypto forum now
__________________
Spreading the madness across this suite of forums.

Those are my principles and if you don't like them, well..... I have others.

Kin Dissers Everywhere

We are all leavers now
counter_violent is offline   Reply With Quote
Old Dec 15, 2017, 6:24pm   #27
Joined Sep 2010
Quote:
Originally Posted by timsk View Post
Hiya c_v,
Yeah, I do take your point and, indeed, agree with it broadly speaking. However, I think it'll take several generations - long after the likes of you and I are pushing up daisies - before cryptos are accepted as the norm in daily life.

I have to say that I would happily take a punt on Iota - by which I mean buy 'n hold - but am put off by the very restrictive and convoluted means of acquiring them.
Tim.
Quote:
Originally Posted by counter_violent View Post
Joking apart, why don't you buy some and start a thread documenting the process. T2W needs to embrace this new world. Sharky told me so, that's why we have a crypto forum now
I have literally just given up on the idea of getting involved today because I can't find a broker I trust or one that's easy to set up and use. Maybe it would be a good idea to have a thread with a step-by-step to help out people looking to get involved.
brewski1984 is offline   Reply With Quote
Thanks! The following members like this post: counter_violent
Old Dec 16, 2017, 2:39am   #28
 
Garvo's Avatar
Joined Jun 2007
Garvo started this thread http://www.marketwatch.com/story/bit...ing-2017-12-13 pretty nice analysis


Enviado desde mi iPhone utilizando Tapatalk
__________________
Enthusiast
Garvo is offline   Reply With Quote
Thanks! The following members like this post: counter_violent
Old Dec 16, 2017, 3:18am   #29
Global Moderators are volunteer members with senior administrative powers to moderate all forums.
 
counter_violent's Avatar
Joined Aug 2004
Stuff to be aware of and avoid.

http://www.badbitcoin.org/thebadlist/
__________________
Spreading the madness across this suite of forums.

Those are my principles and if you don't like them, well..... I have others.

Kin Dissers Everywhere

We are all leavers now
counter_violent is offline   Reply With Quote
Old Dec 16, 2017, 3:56am   #30
 
Garvo's Avatar
Joined Jun 2007
Garvo started this thread
Quote:
Originally Posted by brewski1984 View Post
I have literally just given up on the idea of getting involved today because I can't find a broker I trust or one that's easy to set up and use. Maybe it would be a good idea to have a thread with a step-by-step to help out people looking to get involved.
How to open an account to move cryptos?

Disclaim: I'm not American citizen so I don't have to deal with all the bureaucracy they have.

1) First of all you need get cryptos from FIAT. There are several ways to do this.

a) Thru a broker (Coinbase, Bitfinex, Kraken, Bitstamp or Gatehub).

Pros:
You can buy large amounts of FIAT (you can deposit even millions) if your bank allows it.
Easy to withdraw to your FIAT account.
Good to do trading inside between larger cryptos -because is cheaper and faster.

*I truly recommend Lykke platform. Yo can deposit from your credit card, the KYC is easy and fast -not viable for US residents-. Indeed for US residents as far I know the best brokers are Coinbase and Bitstamp, if not the only ones to deposit FIAT.

* As far I'm from Mexico, I use Bitso as broker, so is really easy for me use FIAT to buy cryptos. But I don't trade in Bitso, I use Bitfinex. I used before -they were the only broker to trade Ripple a few years ago- Gatehub but their KYC is really a pain in the ass. But if you have all your papers is really fast and easy to use it.

Cons:
It can take several days to Tied your account to the levels of good withdrawal.
Ie:
Tie 1: only 1000 usd
Tie 2: from 1000 to 100 000
Tie 3: No limits
(This is from Iconomi)

You need a passport, some official ID and proof of residence.
The fees can be high, but not so high as Ameritrade or IB.

b) Thru localbitcoins https://localbitcoins.com


This is by far the most simple and fast way to buy small amounts of bitcoin.
Is easy to use, you don't have to identify yourself and is a decentralized trade center (the good old P2P system)

Pros:
No Id required.

Cons:
Only small amount of bitcoins
It can be a little bit more expensive the price of bitcoin here than in the exchange.


*So you buy your bitcoin in localbitcoin and then you can open an account in any broker up (Bitfinex, Coinbase, etc) If you make your deposit with cryptos is really fast and easy to open an account in any broker.

c) https://bisq.network

It's a P2P exchange to trade cryptos for FIAT and FIAT for cryptos.

Pros: it's decentralized and prices competitive

Cons: You have to download an app.


You can watch the places to buy and sell bitcoin depending your country in:


https://www.bitcoin.com/buy-bitcoin
__________________
Enthusiast
Garvo is offline   Reply With Quote
Thanks! The following members like this post: brewski1984
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
Double Top Trade (A Wolf in Sheep's Clothing) vs Moolah Naked Price Action Trade FXALTareeq Forex 0 Dec 16, 2015 7:42am
Article: Point and Figure Price Trade Charting - Part 2 (Staying in the Trade Longer) T2W Bot Educational Resources 0 Jul 1, 2014 3:06pm
looking for future demo trade or free charting to paper trade?? doctrader Technical Analysis 3 Dec 3, 2005 4:07pm

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)