Botcoin or share trading Europe

[muppetts]

Just wondering if anyone here buys/sells bitcoin or shares and who they use. I'm after peeps who have actual experience with trading apps/companies etc. as I can google online recommendations but nothing better than knowing someone who has done it!

[muppetts]

OK After research I signed up with Coinbase (I won't be using links, google search more appropriate), sign up process was fairly painless and I now have an account with my debit card and the ability to buy bitcoin, litecoin, bot cash and Ethereum.

I see this as gambling just to make a point.

BC is up 160% on the year, the others all 60%, BC is currently £4800 a coin but with my funds available of £550 (never use more than you can afford to lose) I am looking more at Litecoin £56 a coin, which had a high of £250 6 months ago.

Now BC would seem the obvious choice but of course I can only get .09 of a single coin and I am trying to predict the next wave of crazy, I can get 10 Litecoin and sit on them for a year with a hope of it going mad or stay the course with BC which has gone from £1000 to £19000 in 4 weeks with drops and rises of up to £5000 in a day and while it has settled down now, it seems the end of the year may become a traditional time of madness as it has before.

Sooo I will keep this thread updated every now and again and keep you all informed on the fate of my 500! and the performance and ease of use with this coinbase service.

[korio]

So as i see you want to do some coin trading.

You can also check the "new" coins, they usually are worthless and if they grow fast you can make a huge profit.

Also, you can check to rent some "cloud minning" power, with those you just rent the minning power at a fixed price and you can see if its good to mine one coin or another to make some profits.


Have fun! its like stock trading but new! hahaha

[muppetts]

It's pure gambling really, I mean the 3 coins I have mentioned have lost between 5 to 10% of their value IN A DAY!

I love the idea of these swings, I have not taken the plunge yet but have read copious amounts,

Litecoin is down 33% last 4 weeks and seems to have bottomed out at the price it was 1 year ago (55 quid) so I am thinking of maybe putting all in their because to many buys gets more fees.

Man oh man, a day trader with 30 grand to play with, with 10% swings, you could be hero or bust over and over.

Must take the plunge BUT I is scared!!

[muppetts]

AHHH OK I am now the proud owner of 10 Litecoin at £57 a coin.

20 quid fee, which I will of course need to overcome, the seem to have another service which is more towards day trading with smaller fees but I am just starting out so maybe hold off on going crazy!

and in the 4 minutes it has taken me to complete the buy my 'portfolio' (don't ya know me lord) is worth 1% more

[Morkonan]

...Must take the plunge BUT I is scared!!

You should be.

I remember when Bitcoin was something like $350-$500, I think? It went up to around $20,000 USD last year and is now down 66% from that high..

Bitcoin Bubble

Because of the volatility of this particular market, you should never invest anything you can't afford to lose. That's the same advice as "gambling" but investing shouldn't be "gambling." Here, there are few indicators aside from the commodity, itself, that can help forecast prices.

And, the common tactics of investing, which would be "buy low, sell high" truly need to be understood - When you're buying low, you're buying as a price is falling, increasing your position. When you're selling high, you're selling on the uptick, when you can consider that current prices won't likely rise. (If they will, you might even increase your position.) Doing that reliably with e-currency, right now, is probably very risky considering the range of the swings.

Some institutions are treating e-currency as a possible investment, but they're not far from "gambling." It might be more reliable to bet on the technology, rather than the product. Blockchain tech has been proposed for use in a wide variety of electronic "products" and that might be interesting to speculate on.

There are plenty of self-proclaimed "blockchain millionaire" investors out there, but my bet is that particular group is smaller than it professes to be.

I wouldn't mind having some e-currency, but not as an investment, just as another medium of exchange. But, losing it overnight or ending up with orders of magnitude less in my wallet than was there the night before...

Don't plan your retirement on it.

[RegisterMe]

Seriously, most crypto currencies are worthless (there's a list of over 1000 ICOs where the coin price is now zero).

The distributed ledger technology behind them is interesting and potentially transformational. However the economics doesn't stack up. You might make out like a bandit, you might lose your shirt. Either way understand that you're betting on something where the fundamentals just don't stack up.

[muppetts]

I'm only looking at the current top 5, Goldman Sacs is setting up trading in 2 of those and while their are crazy swings, those effect people who borrow and have to sell, I can wait a year or 2 or 3 which is why I have gone for one of the safer options.

https://en.wikipedia.org/wiki/Litecoin

I am looking for the next BC and this coin is now being used for actual trade (i.e you can actually buy stuff with it), which has steadied confidence in it.

I don't want to lose 500 quid but it was a gift and I thought long term this could be fun and a risk.

2 years ago I was going to buy £1000 of BC and I did not do it, so now I think I will take a fling!

[RegisterMe]

2 years ago I was going to buy £1000 of BC and I did not do it, so now I think I will take a fling!

Also known as "fear of missing out", or FOMO.

[muppetts]

2 years ago I was going to buy £1000 of BC and I did not do it, so now I think I will take a fling!

Also known as "fear of missing out", or FOMO.

Nah, that's not relevant if part of your strategy is an acceptance that you can lose it all, FOMO is people who go in blind without knowledge or awareness as part of social pressure to get easy money.

Me I see this as VEGAS, just rolling the dice here and having fun.