Does Anyone Here Trade Cryptocurrencies... Or Is that a dirty word?

[ShiftingSands]

Hi Folks!

New to T2W community... Just doing some recon before I put anyone/everyone's nose out of joint.

I'm very keen on discussing the cryptocurrency markets, on a technical and fundamental analysis basis, with traders that have a knowledge of the broader market.

Before I waste anyone's time I was just checking to see what the appetite for crypto trading was on this forum :?:

 

[Quantt]

Hi there, personally form me, I am not into fundamental analysis which shows pretty much all crypto in one big bubble. TA and day trading I cannot comment, since I am not doing it, but broadly in terms of systematic and algo trading I am not interested, because the volume is low and I cannot trust the exchanges and the brokers, every other day there is a hack or scam involving crypto...

 

[EnlightenedJoe]

Those pyramid schemes are more suited to script kiddies fighting over bits, bytes and gpu's. A programming forum might work better for that. People into financial markets are more into fighting big sharks. The levels of excitement are just not comparable.

 

[spinola]

Goldman Sachs are bullish on their positions.

 

[ShiftingSands]

OK people I get the broad sentiment of what you're saying...

However, who can turn down the gains made in a such a volatile environment (and they are significant)?

Spreads of 0.15% I can handle, with average swings of 20% every 24 hours.. Not too bad of a deal in my open book.

Investment wise (long term) I have had jaded experiences of late, but that's only cause I stopped making on average of 200% a month on long trades.

Spot trade wise it's still viable, from what I'm reading here algo trading isn't a popular subject, but there are some bots that can help, more signal predictor stuff as opposed to full algo trading... I understand that due to the lower overall market volumes that HFT has not truly kicked off in the crypto space, but I like having a dabble with stuff.

In a sense, with what are termed to be the 'Altcoins' I can't say I truly believe in each and every release, as they are not mature enough and have not been tested transaction wise, but I still like a punt for sport.

Spot trading wise I like this approach to crypto:

http://alts-club.com/docs/learn-how-to-use-altcoin-trader.php

Investment wise, i go back to the white papers for Bitcoin, Ethereum and go out to the blockchain meet ups in my area to get a top to bottom view of the tech and it's potential.

No point investing in something you don't understand right?

But I think emotion can be removed from spot trading as it's more a time series analysis game...

Real reason I came on this forum however is to get deeper knowledge of market analysis from those that are not blinkered to crypto.

The recent spate of ICOs for example have tarnished the reputation of blockchain and have brought in a sway of blind investment (plus some nice levels of volatility)... So I'm here to get some angles outwith the blockchain/crypto space

Thoughts?

 

[EnlightenedJoe]

No point investing in something you don't understand right?

I am geek. I can understand it if I really want to. But I don't. It just feels too kiddie stuff. It will remain so until banks start using the stuff. When they do, they will use their own cryptocurrency, which will make the exiting ones worthless.

In terms complexity, nothing gets more complex than financial markets, at least on the surface. Took 7 years for me to break through to the real goodies. That's 2 PhD worth of effort.

It's not about understand, rather about if it's worth understanding.

 

[Quantt]

I am geek. I can understand it if I really want to. But I don't. It just feels too kiddie stuff. It will remain so until banks start using the stuff. When they do, they will use their own cryptocurrency, which will make the exiting ones worthless.

In terms complexity, nothing gets more complex than financial markets, at least on the surface. Took 7 years for me to break through to the real goodies. That's 2 PhD worth of effort.

It's not about understand, rather about if it's worth understanding.

Amen brother! This is exactly how I feel, maybe one day when it goes mainstream we can trade it for sure, but in the mean time, it's not worth the effort for me as well...

 

[ShiftingSands]

I am geek. I can understand it if I really want to. But I don't. It just feels too kiddie stuff. It will remain so until banks start using the stuff. When they do, they will use their own cryptocurrency, which will make the exiting one worthless.

In terms complexity, nothing get more complex than financial markets, at least on the surface. Took 7 years for me to break through to the real goodies. That's 2 PhD worth of effort.

It's not about understand, rather about if it's worth understanding.

I see what you're saying, however the majority of major banks have signed up to blockchain in some capacity or other... Deloittes for example have produced reports on the main players and their skin in the game.

Main problem at the moment is the network capacity, user base has outgrown the infrastructure and that's why there's a major change in bitcoin protocol being released on August 1st to enhance performance, but there's already ATMs in place and a lot of businesses already accept crypto payments. The tech is there, fledgling, but still working and scaling up

 

[EnlightenedJoe]

I'll wait for the banks to leap into it then I will follow. I have a personal rule: always follow the merchants. They are never wrong.

Now, if I try to deposit any cryptocurrency into my bank account, they will probably call the police and have me arrested for bank fraud. That's too much work.

 

[ShiftingSands]

I'll wait for the banks to leap into it then I will follow. I have a personal rule: always follow the merchants. They are never wrong.

Now, if I try to deposit any cryptocurrency into my bank account, they will probably call the police and have me arrested for bank fraud. That's too much work.

Depends on where you live and how much you've pulled...

Less than 12K per annum is gratis para CG tax...

Sit on earnings for a year and, well, depends on your nationality

Grey area stuff, like the tech, like the whole thing, but kinda fun too no?

 

[predator]

Once I tried trading cryptocurrencies, but it didn't result in anything good. ..

 

[progix]

Which exchange you tried trading crypto..! I guess many forex brokers like hot forex had started accepting bitcoins as well as it is now a commodity paired against USD and EUR too.

 

[FXX]

To trade an instrument a market is required. The crypto currency market isn't really a market its just a bunch of people buying something for no other reason than other parties buying it. There is no purpose for the market like there is in futures, equities, bonds, or currencies. For this reason, trading crypto currencies is a fools game and has similarities with pyramid schemes. The appreciation in bitcon is nothing short of a greed bubble fueld by criminal activity. It won't take much for it to fall apart and will probably will lose most of its value as soon as regulation comes in to prevent criminal activity. While I don't have any stats support my opinion of the value mostly being driven by criminal activity, it is clear that its use in the dark web and ransomeware provides evidence to support it. There is no way crypto currencies can be traded using any means that we traders use. All the fundamental drivers are absent and all movement is driven by greed.

 

[Garvo]

To trade an instrument a market is required. The crypto currency market isn't really a market its just a bunch of people buying something for no other reason than other parties buying it. There is no purpose for the market like there is in futures, equities, bonds, or currencies. For this reason, trading crypto currencies is a fools game and has similarities with pyramid schemes. The appreciation in bitcon is nothing short of a greed bubble fueld by criminal activity. It won't take much for it to fall apart and will probably will lose most of its value as soon as regulation comes in to prevent criminal activity. While I don't have any stats support my opinion of the value mostly being driven by criminal activity, it is clear that its use in the dark web and ransomeware provides evidence to support it. There is no way crypto currencies can be traded using any means that we traders use. All the fundamental drivers are absent and all movement is driven by greed.

Damn, so much bull**** makes me angry, but... it's your deal friends, I have some cryptos with 2000% gain. My greed is proportional to your stupidity, so I'm holding just like I used to hold cable and gold in others days.

 

[FXX]

Damn, so much bull**** makes me angry, but... it's your deal friends, I have some cryptos with 2000% gain. My greed is proportional to your stupidity, so I'm holding just like I used to hold cable and gold in others days.

My stupidity will be paying me long after crypto currencies are gone. When a wobble can move price $2000 in a couple of days, imagine what its going to do when there is a proper event. Then the only thing proportional to my amusement will be your stupidity for getting involved in the first place.

 

[FXX]

so much for the bull****

https://www.armstrongeconomics.com/...m-cryptocurrency-almost-400-million-vanishes/


Thanks to a string of screw-ups and bugs, an unsuspecting developer recently took possession of an estimated $US390 million worth of the Ethereum cryptocurrency by accident. In an attempt to give back the money, however, the guy ended up locking up the funds permanently. Essentially, the money has just evaporated.

It turns out that hackers started the trouble getting into the cryptocurrency wallet service stealing about $42 million. To then patch the vulnerability to their block-chain technology, they introduced a bug that affected multi-signature wallets. These are wallets which require several people to enter keys before funds get transferred. This was intended to be top security for Ether which is the second largest cryptocurrency. Somehow, a guy called “devops199” triggered the bug and took control of all multi-sig wallets unintendedly. Then devops199 attempted to reverse the process to give back the money which then triggered they bug. The result was the destruction all of the funds. The bug caused a chain reaction of events that locked all multi-signature wallets that cannot now be unlocked

 

[Garvo]

so much for the bull****

https://www.armstrongeconomics.com/...m-cryptocurrency-almost-400-million-vanishes/


Thanks to a string of screw-ups and bugs, an unsuspecting developer recently took possession of an estimated $US390 million worth of the Ethereum cryptocurrency by accident. In an attempt to give back the money, however, the guy ended up locking up the funds permanently. Essentially, the money has just evaporated.

It turns out that hackers started the trouble getting into the cryptocurrency wallet service stealing about $42 million. To then patch the vulnerability to their block-chain technology, they introduced a bug that affected multi-signature wallets. These are wallets which require several people to enter keys before funds get transferred. This was intended to be top security for Ether which is the second largest cryptocurrency. Somehow, a guy called “devops199” triggered the bug and took control of all multi-sig wallets unintendedly. Then devops199 attempted to reverse the process to give back the money which then triggered they bug. The result was the destruction all of the funds. The bug caused a chain reaction of events that locked all multi-signature wallets that cannot now be unlocked

My dear, a 230B market dont lie. What you say is like William Ackman's 1B losses in 2016. Buy ETH and LISK, you wont regret .

 

[Quantt]

so much for the bull****

https://www.armstrongeconomics.com/...m-cryptocurrency-almost-400-million-vanishes/


Thanks to a string of screw-ups and bugs, an unsuspecting developer recently took possession of an estimated $US390 million worth of the Ethereum cryptocurrency by accident. In an attempt to give back the money, however, the guy ended up locking up the funds permanently. Essentially, the money has just evaporated.

It turns out that hackers started the trouble getting into the cryptocurrency wallet service stealing about $42 million. To then patch the vulnerability to their block-chain technology, they introduced a bug that affected multi-signature wallets. These are wallets which require several people to enter keys before funds get transferred. This was intended to be top security for Ether which is the second largest cryptocurrency. Somehow, a guy called “devops199” triggered the bug and took control of all multi-sig wallets unintendedly. Then devops199 attempted to reverse the process to give back the money which then triggered they bug. The result was the destruction all of the funds. The bug caused a chain reaction of events that locked all multi-signature wallets that cannot now be unlocked

Amen Brother, that's what I am talking about, not to mention that the we already have been trough this in the dot com bubble, at lest the trading was properly regulated on a real stock market back then...

 

[FXX]

more joys in the crypto world

http://www.zerohedge.com/news/2017-...ecovers-after-hackers-steal-31-million-tokens

 

[Garvo]

more joys in the crypto world

http://www.zerohedge.com/news/2017-...ecovers-after-hackers-steal-31-million-tokens

Check this joy:

So ponzi that makes me cry!!