For some people who pump and dump. And others who basically ride the volatility there’s definitely a method to the madness.
Bitcoin Traders Claim There’s Method to Their Madness
91–100 of 101 posts
Re: Bitcoin Traders Claim There’s Method to Their Madness
#92Earlier quoted context omitted.
i just checked 3 relatively legitimate bitcoin exchanges (kraken, gdax, bitstamp). you could put a 300k sell order on any of them and have less than 0.5% of slippage, which is much less than regular trading volatility. plus if you really wanted to, you could spread your trades among multiple exchanges and execute them simultaneously for even lower slippage.
Not as disasterous as I thought, but still not great. Worse, when you most want to sell is when others do too, so the liquidity may change. How'd you confirm that estimate, by making a trade?
you don't. how most exchanges work is that when selling, you can place a limit order (sell at that price or higher), or a market order (sell at whatever price). if you want certainty, you use limit. if you want to make a trade now, you use market.
Re: Bitcoin Traders Claim There’s Method to Their Madness
#93Earlier quoted context omitted.
I'm very curios: whoever downloaded this comment above, could you please tell us, why do you think it's not true?
I didn’t downvote it, but it’s so obvious as to be unhelpful. Who needs to be reminded that an asset isn’t worth its price until it’s liquidated? It’s self-evident, and yet you have it following every time someone mentions returns on BTC. You have it at least twice here on this thread, in fact.
bitcoin is not just an asset. hardcore supporters believe you need never cash out. all other money will cash in instead. takes some time to grasp it
Re: Bitcoin Traders Claim There’s Method to Their Madness
#94Earlier quoted context omitted.
I didn’t downvote it, but it’s so obvious as to be unhelpful. Who needs to be reminded that an asset isn’t worth its price until it’s liquidated? It’s self-evident, and yet you have it following every time someone mentions returns on BTC. You have it at least twice here on this thread, in fact.
bitcoin is not just an asset. hardcore supporters believe you need never cash out. all other money will cash in instead. takes some time to grasp it
Easy to grasp, but it takes a heavy dose of KoolAid or a desperate need to satisfy existing ideologies to believe.
Re: Bitcoin Traders Claim There’s Method to Their Madness
#95Earlier quoted context omitted.
Not as disasterous as I thought, but still not great. Worse, when you most want to sell is when others do too, so the liquidity may change. How'd you confirm that estimate, by making a trade?
you don't. how most exchanges work is that when selling, you can place a limit order (sell at that price or higher), or a market order (sell at whatever price). if you want certainty, you use limit. if you want to make a trade now , you use market.
Ah, so that 0.5% was just a wild guess. Others have chimed in that they've sold a bunch in one day and been fine, but ... there's always folks that want to pump the price, so I'm not sure what to believe.
Re: Bitcoin Traders Claim There’s Method to Their Madness
#96Earlier quoted context omitted.
I'm curious, how did you come up with $1k?
That's what it was roughly worth before the hyperdeflation started. I put my money on waiting until after Tether [1] fraud gets exposed. [1] https://en.wikipedia.org/wiki/Tether_(cryptocurrency)
I often hear this theory that tether is just printing bills that are not backed by actual USD... Which I doubt is occurring... But even if it is and every single tether is counterfeit, the market cap of Tether is a mere $1.2 billion. To put that in perspective, Bitcoin's cap is $240 billion. Tether is not a major factor in Bitcoin's price. Sorry.
Re: Bitcoin Traders Claim There’s Method to Their Madness
#97As they say, past performance is no indication of future potential. This is especially true the shorter the trader's history. Thus, reading one trader's secret of success may as well be like listening to a slot machine player's 3-week winning strategy story. Meanwhile, identifying recurring inefficiencies and working out the details of how to take advantage of those inefficiencies can produce a more reliable income.…
So far, it seems to me that a level-headed crypto bull would have had an advantage over the average crypto trader. Winning strategy, historically, would be to be biased towards holding Bitcoin, but selling when the price rises start to reach maybe 20% /day, and resisting the urge to buy back in when the price is rebounding a few months after a major bubble burst, choosing instead to start buying when the price has go…
No guarantees the price will bottom out at 20% of the previous top.
Re: Bitcoin Traders Claim There’s Method to Their Madness
#98Earlier quoted context omitted.
That's what it was roughly worth before the hyperdeflation started. I put my money on waiting until after Tether [1] fraud gets exposed. [1] https://en.wikipedia.org/wiki/Tether_(cryptocurrency)
I often hear this theory that tether is just printing bills that are not backed by actual USD... Which I doubt is occurring... But even if it is and every single tether is counterfeit, the market cap of Tether is a mere $1.2 billion. To put that in perspective, Bitcoin's cap is $240 billion. Tether is not a major factor in Bitcoin's price. Sorry.
If you doubt its occurring, mayhaps you can share facts which lead you to that conclusion?
Re: Bitcoin Traders Claim There’s Method to Their Madness
#99Earlier quoted context omitted.
I didn’t downvote it, but it’s so obvious as to be unhelpful. Who needs to be reminded that an asset isn’t worth its price until it’s liquidated? It’s self-evident, and yet you have it following every time someone mentions returns on BTC. You have it at least twice here on this thread, in fact.
bitcoin is not just an asset. hardcore supporters believe you need never cash out. all other money will cash in instead. takes some time to grasp it
All currencies are assets intended to be exchanged for other assets. Go read the original Bitcoin whitepaper. It’s all about enabling transactions—not hoarding an mountain of coins like some kind of mythological dragon. Whether or not bitcoin is converted to other currencies during a transaction is irrelevant.
Re: Bitcoin Traders Claim There’s Method to Their Madness
#100I’m in a discord chat with about hundred cryptocurrency traders. Reading their insights is great but wow do they put themselves on a crazy ride. I traded for one day only and the mind f$&k is a strong one.
can you link to the discord community? I'm always interested to see community behaviours in action
this is the one Im in http://traderead.com/chat