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Litecoin and Ethereum buys and sells are temporarily disabled

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Re: Litecoin and Ethereum buys and sells are temporarily disabled

#351

Post by workthrowaway27 »

charlesdm wrote: post #347
frakr wrote: post #343

Earlier quoted context omitted.

Can you provide proof of one pension fund that has bought in to crypto?

Maybe not yet as of today, but they're coming. I have a friend (wealthy family with a substantial family office) who bought into crypto at the beginning of last year. His dad runs quite a large traditional investment fund and knows of people in his network working at pension funds that are looking at putting money into Bitcoin / Ethereum and others. The family has done private equity deals together with some of these…

I used to work for a hedge fund. Now I'm in a different industry. While many individuals at the fund were interested in cryptocurrencies, they weren't going to put client money there. In order for pension funds to invest in cryptocurrencies there have to be very liquid securities that they can invest in. Futures don't count because almost no pension fund will use them directly (though pension funds do invest in hedge funds, which might have a futures strategy).

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#352

Post by [deleted] »

garybro wrote: post #303

I've made about $110k profit this year in crypto on a $21k investment earlier this year, and I think this is all a giant bubble. I was at my parents' house for Thanksgiving and a commercial with Ron Paul talking about Bitcoin came on, which coincided with around the time it went to $10k, and it hit me really hard that this isn't going to last forever (and probably will hurt sooner rather than later). I liquidated eve…

[deleted]

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#353

Post by elif »

garybro wrote: post #303

I've made about $110k profit this year in crypto on a $21k investment earlier this year, and I think this is all a giant bubble. I was at my parents' house for Thanksgiving and a commercial with Ron Paul talking about Bitcoin came on, which coincided with around the time it went to $10k, and it hit me really hard that this isn't going to last forever (and probably will hurt sooner rather than later). I liquidated eve…

>I woke up this morning and was astonished to see that LTC was about $380. This was in the course of about 5 hours. Had I not sold it last night, I would have made almost $40k.

I can relate. If I'd done the exact paired trades i did this month (only between btc, bch, eth, and usd), only at different times than i did, i would have doubled my money yet another time, for a life-changing sum.

Instead I've been sleeping well every night for a month on a healthy exit. Even with hindsight, I don't have any regrets.

I didn't get into the space to get rich and sweat at night, I got in to socialize monetary control. Now crypto doesn't even want to be money. Once this bubble cools off I can start dreaming again.

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#354

Post by hndamien »

joe_the_user wrote: post #276
panarky wrote: post #180

Earlier quoted context omitted.

> definitely a bubble, really cant deny that anymore You could be right. But I don't understand everyone's certainty that cryptocurrencies are a fraud-bubble-scam-Ponzi-mania. The growth curve fits both exponential and logistic (S-curve) functions. Exponential growth is unsustainable, while logistic growth describes most technology adoption. Halfway through the cycle they're indistinguishable. When there's 98% agreem…

Bitcoin doesn't produce anything of use to most people. I can already transfer my money from my bank to a merchant with quite low fees. Even in Africa, the possibility of phone-based money allows people to do this. Bitcoin's risks don't balance its benefits for most users of currency and basically, it's a currency or a "technology", it's simply a unique commodity akin to art or Tulips. I mean, if the bubble was tulip…

You mean a third party can do this for you.

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#355

Post by hndamien »

corey_moncure wrote: post #305
scurvy wrote: post #67

Earlier quoted context omitted.

Sell half after it doubles, then hold the rest until you need the money. Selling half returns your initial investment; what remains is pure profit and you can't lose money.

>you can't lose money. This is a little fallacious because it assumes that the value of your money (Dollars or something?) won't continue to lose value against until it becomes worthless paper. This has happened in recent history e.g. Weimar Germany and is happening right now e.g. Venezuela. At the end of the day, the rationality comes from a comparison of one currency against another. Just converting back from the c…

Can confirm. Most crypto millionaires also lost "millions".

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#356

Post by elif »

byproxy wrote: post #310
garybro wrote: post #303

I've made about $110k profit this year in crypto on a $21k investment earlier this year, and I think this is all a giant bubble. I was at my parents' house for Thanksgiving and a commercial with Ron Paul talking about Bitcoin came on, which coincided with around the time it went to $10k, and it hit me really hard that this isn't going to last forever (and probably will hurt sooner rather than later). I liquidated eve…

I guess this applies to non-crypto trading as well, but, how do you manage taxes on these transactions?

[IanaA] If your liquidated positions are open for over a year, you can do 15% long-term capital gains in the US.

The exchanges have an export history feature, which I'm planning to put into a spreadsheet to calculate profit. That's gonna be a fun weekend project.

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#357

Post by dannygarcia »

wott wrote: post #75
phil248 wrote: post #25

Earlier quoted context omitted.

Having purchased several cryptocurrencies recently, I can attest that I am certainly not acting rationally. But at least I'm having fun!

I should start a business selling thin air. Thin air from France, thin air from Japan, thin air from Mexico, and so on, you can collect them all, it is super fun. Then I could introduce cold captured thin air, warm captured thin air, etc. Wet thin air, dry thin air for year 3. More fun every year. Even better, I should sell just a paper (well, an electronic one) stating you own some thin air. Hey, geeks, how cool can…

You couldn't get me to pay a cent for air now. But please let me know when the air futures exchange opens.

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#358

Post by exelius »

hndamien wrote: post #349
exelius wrote: post #342

Earlier quoted context omitted.

It's strayed so far from fundamentals that it's bound to crash. I really hope it's not that big when it does...

You love bankers that much? Boy we have come a long way since 2008. edit: Oh you said "hope it is not" - my mistake.

It's not that I love banks; it's that we rolled back all the banking regulation that kept that stuff in check prior to 2008. Replacing that with a system with zero regulation does not seem like progress...

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#359

Post by jordanpg »

exelius wrote: post #342
charlesdm wrote: post #321

Earlier quoted context omitted.

Even if it is a bubble, that doesn't mean it can't go another 20x from here, depending which crypto you put your money in. There's cheap liquidity (ho ho ho said the FED and the ECB), there are institutions (pension funds) that are starting to buy in, and in comparison, the dot-com bubble (which was mainly a US led bubble, not global) went to $5.7tn to $1.7tn. Gold is worth $8tn globally. Why couldn't Bitcoin get to…

It's strayed so far from fundamentals that it's bound to crash. I really hope it's not that big when it does...

It's not obvious to me that "fundamentals" apply here. This is literally unprecedented and cryptocurrency economies are uncharted territory.

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#360

Post by tomkarlo »

zMiller wrote: post #313
joe_the_user wrote: post #270

Earlier quoted context omitted.

The average "unbanked" person in a third world nation couldn't afford a $20 transaction fee for their ordinary transactions. But bitcoin certainly looks like a way for some portion of this group to protect their capital since it's not controlled by states want capital controls. Of course, there's a reason third world countries want capital controls - a lot of the people seeking to export capital are corrupt non-ownin…

Spot on. Use as currency for Bitcoin (and other coin networks) is still in it's infancy and cannot scale the way it needs to should it want to replace fiat. The important distinction I would draw though that stores of value have historically been cumbersome to transport and liquidate, Bitcoin solves that problem in a very good way. I feel it's important to also address this 20$ bitcoin fee meme that seems to be going…

"Single dollars" is still a nosebleed-high fee for a simple electronic value transfer. Consider that pricing on something like an ach transfer is quoted in fractions of a percent (so like 75 cents for $100 USD sent - and caps out entirely at some low value like $5 per transaction regardless of the payment size.
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