Quake3World.com Forums
     General Discussion
        Bitcoin is tumbling


Post new topicReply to topic
Login | Profile | | FAQ | Search | IRC




Previous topic | Next topic 
Topic Starter Topic: Re: Bitcoin is tumbling

Kempston Joy
Kempston Joy
Joined: 11 Aug 2000
Posts: 48594
PostPosted: 02-05-2021 10:27 AM           Profile   Send private message  E-mail  Edit post Reply with quote


At what point would you move to a hardware wallet?




Top
                 

Lead Pipe Mafia
Lead Pipe Mafia
Joined: 15 Oct 2007
Posts: 5943
PostPosted: 02-05-2021 10:49 AM           Profile   Send private message  E-mail  Edit post Reply with quote


I would use a hardware wallet if I intended to buy and hold a currency for a long period of time as I did in 2015. I pretty much just bought and forgot about it, cashed out in 2017 and bought back in slightly when prices dropped again. However, when I bought back in it wasn't for much and I just kept the coins on coinbase. I didn't think much of it till around November of 2020 and struggled to regain access to my account due to a change in phone numbers, hence my advice to avoid this at all costs. I didn't regain access to my account until January, well after the huge spike and began day trading at that point with the coins I'd purchased in 2017 that had quadrupled in price.

Day trading has been a learning curve, won't lie it's not all roses. I withdrew a small amount of coins from coinbase and swapped to coinbase pro and wanted to see if I could grow that amount. I initially went up 10% and then quickly lost roughly 50% to impatience, ignorance and few learning blunders. Keep in mind I won't lose any sleep if I lose 100% of this experiment, this is testing the waters before I get serious. In the last week I've been steadily growing up 20% from my lowest point. One day, I did the math on if I had exactly 1 bitcoin and in 15 minutes I'd have made 1,350$ profit after fee's. (I am not playing with 1 whole bitcoin)... Playing with smaller amounts you don't care to lose allows you to really experiment without emotion, I highly recommend it. Right now, I'm hopeful that in 2 weeks I'll be back where I started and continue growing from there. If things go well I might move more ETH into my day trading side to increase my daily profits.




Top
                 

Kempston Joy
Kempston Joy
Joined: 11 Aug 2000
Posts: 48594
PostPosted: 02-05-2021 10:53 AM           Profile   Send private message  E-mail  Edit post Reply with quote


I’ve just started with ETH. A small amount which I’ll add to each month.

I’d like to see what happens with around £1k over the long term.




Top
                 

Lead Pipe Mafia
Lead Pipe Mafia
Joined: 15 Oct 2007
Posts: 5943
PostPosted: 02-05-2021 11:03 AM           Profile   Send private message  E-mail  Edit post Reply with quote


Good luck dude, I think you'll make out well in the long run. Hopefully you'll watch 1k turn into 30k. I have a little over 3 ETH and I have no intention of taking it out now, I'm convinced it's going to give bitcoin a run for its money.

Also things to watch for.

ETH will be halving soon

ETH 2.0 is going to release soon.

Both of those will cause it's value to increase.

I also believe Staking ETH is in the near future, watch out for that because if you're holding onto it long term this will be hugely beneficial and will compound your returns. Definitely do this if you plan on holding long term.




Last edited by Κracus on 02-05-2021 11:05 AM, edited 1 time in total.

Top
                 

Kempston Joy
Kempston Joy
Joined: 11 Aug 2000
Posts: 48594
PostPosted: 02-05-2021 11:04 AM           Profile   Send private message  E-mail  Edit post Reply with quote


I’ll keep my eye on this topic so if you notice something before I do, post it...




Top
                 

Lead Pipe Mafia
Lead Pipe Mafia
Joined: 15 Oct 2007
Posts: 5943
PostPosted: 02-05-2021 11:06 AM           Profile   Send private message  E-mail  Edit post Reply with quote


I definitely will, also note my edits above, very relevant.




Top
                 

Etile
Etile
Joined: 19 Nov 2003
Posts: 34898
PostPosted: 02-05-2021 12:43 PM           Profile Send private message  E-mail  Edit post Reply with quote


anyone jumped on Elon's Dogecoin hype train?




Top
                 

Cool #9
Cool #9
Joined: 01 Dec 2000
Posts: 44131
PostPosted: 02-05-2021 12:56 PM           Profile   Send private message  E-mail  Edit post Reply with quote


Elon's dogecoin hype train? That was a WSB thing last week as well, wasn't it?




Top
                 

Lead Pipe Mafia
Lead Pipe Mafia
Joined: 15 Oct 2007
Posts: 5943
PostPosted: 02-05-2021 01:19 PM           Profile   Send private message  E-mail  Edit post Reply with quote


Not dogecoin but I happened to be holding bitcoin when he set his status as Bitcoin and made a 20% jump in a matter of hours.




Top
                 

Immortal
Immortal
Joined: 12 Mar 2005
Posts: 2205
PostPosted: 02-05-2021 03:03 PM           Profile   Send private message  E-mail  Edit post Reply with quote


Cashed out some ETH I bought when it was around $300 per to buy dogecoin, made 50% profit cashed out and thinking about putting it back into ETH.
I also have bitcoin but I'm not really paying attention to it.




Top
                 

Aneurysm
Aneurysm
Joined: 10 Dec 1999
Posts: 12260
PostPosted: 02-05-2021 03:27 PM           Profile   Send private message  E-mail  Edit post Reply with quote


Doombrain wrote:
ah, i had it in my head they were young for some reason. Going to wait for the next crash then put some spare down.

What's Coinbase like?



I wouldn't use coinbase, and if you do use coinbasepro as the fees are much much lower.

There are better options with access to more coins if youre outside the US. Try FTX or Binance.




Top
                 

Immortal
Immortal
Joined: 12 Mar 2005
Posts: 2205
PostPosted: 02-05-2021 03:31 PM           Profile   Send private message  E-mail  Edit post Reply with quote


shaft wrote:
Doombrain wrote:
ah, i had it in my head they were young for some reason. Going to wait for the next crash then put some spare down.

What's Coinbase like?



I wouldn't use coinbase, and if you do use coinbasepro as the fees are much much lower.

There are better options with access to more coins if youre outside the US. Try FTX or Binance.


I second Binance. Very happy with them. Been using them for around 4 years now.




Top
                 

Aneurysm
Aneurysm
Joined: 10 Dec 1999
Posts: 12260
PostPosted: 02-05-2021 03:33 PM           Profile   Send private message  E-mail  Edit post Reply with quote


Κracus wrote:
shaft wrote:
Check out ADA.


Yeah I have, there's a lot of crypto's that look super interesting like Polkadot, ADA and others. I'm currently experimenting though and I will only trade with coins that go directly against the USDC and I'm only trading on coinbase so I can only trade coins that they allow on that platform. Trading against the USDC though has thus far made it very easy to always profit. Could just be that the market is bullish though.



Yeah I had to setup an account on Kraken and transfer assets from Coinbase. There isn't an easy way to link your bank account in Kraken like there is in Coinbase. I'm considering moving everything to FTX.us or Binance.us as they have everything but im lazy and haven't gone through the verifications yet.

ADA up 108% over past month. $$$




Top
                 

Kempston Joy
Kempston Joy
Joined: 11 Aug 2000
Posts: 48594
PostPosted: 02-06-2021 06:31 AM           Profile   Send private message  E-mail  Edit post Reply with quote


So I plan on not putting more then £1k in over the next year and cashing out within 3 years depending.

I still can’t figure out if I’m best using a site like CB/ones mentioned above or a hardware wallet.

I’ll probably change my phone in a few months but from what I understand that won’t make any difference as my codes are on the xxxxxx site?




Top
                 

Lead Pipe Mafia
Lead Pipe Mafia
Joined: 15 Oct 2007
Posts: 5943
PostPosted: 02-06-2021 06:47 AM           Profile   Send private message  E-mail  Edit post Reply with quote


Although I'm aware you can stake coins and I've looked at the potential returns I have not looked into how staking a coin actually takes place. If you're buying ETH I would take a minute and google how to Stake ETH or when Staking ETH will be available and base your storage of the coin around the ability to stake it. Staking in theory should dramatically improve your overall returns, especially for a plan like yours over several years.




Top
                 

Lead Pipe Mafia
Lead Pipe Mafia
Joined: 15 Oct 2007
Posts: 5943
PostPosted: 02-06-2021 06:52 AM           Profile   Send private message  E-mail  Edit post Reply with quote


Nevermind.. did a quick read up on it and I guess they want a minimum 32 ETH in your account to stake. Nice over 2k returns yearly though on top of whatever you'd get if it goes up in price but 32 ETH is a big ask.




Top
                 

Lead Pipe Mafia
Lead Pipe Mafia
Joined: 15 Oct 2007
Posts: 5943
PostPosted: 02-06-2021 06:58 AM           Profile   Send private message  E-mail  Edit post Reply with quote


Ok well... I guess this is a rollercoaster article. So you CAN stake less than 32 ETH on certain exchanges listed in this article.

https://www.bitcoinmarketjournal.com/ethereum-staking/

It's worth reading honestly. So yeah, I'd look into the ability to Stake your coins on an exchange. It'll no doubt cause transactions like withdrawls to take longer but if you're not in a hurry it seems well worth it with possible 17% in interest projected on certain exchanges.




Top
                 

Etile
Etile
Joined: 19 Nov 2003
Posts: 34898
PostPosted: 02-06-2021 10:37 AM           Profile Send private message  E-mail  Edit post Reply with quote





Top
                 

Digital Nausea
Digital Nausea
Joined: 10 Feb 2001
Posts: 24709
PostPosted: 02-06-2021 02:16 PM           Profile   Send private message  E-mail  Edit post Reply with quote


Doombrain wrote:
So I plan on not putting more then £1k in over the next year and cashing out within 3 years depending.

I still can’t figure out if I’m best using a site like CB/ones mentioned above or a hardware wallet.

I’ll probably change my phone in a few months but from what I understand that won’t make any difference as my codes are on the xxxxxx site?


I bought a Ledger Nano back in 2017 thinking the same thing you are. But I never used it. I had good intentions, but just ended up keeping everything on Binance. Then Binance closes everything up to the US and I was fucked. Had to VPN to move my coins. And now here I am with my coins on Binance.US. Did I learn anything? Apparently not...




Top
                 

Lead Pipe Mafia
Lead Pipe Mafia
Joined: 15 Oct 2007
Posts: 5943
PostPosted: 02-06-2021 03:01 PM           Profile   Send private message  E-mail  Edit post Reply with quote





Top
                 

Aneurysm
Aneurysm
Joined: 10 Dec 1999
Posts: 12260
PostPosted: 02-07-2021 09:07 PM           Profile   Send private message  E-mail  Edit post Reply with quote


Doombrain wrote:
So I plan on not putting more then £1k in over the next year and cashing out within 3 years depending.

I still can’t figure out if I’m best using a site like CB/ones mentioned above or a hardware wallet.

I’ll probably change my phone in a few months but from what I understand that won’t make any difference as my codes are on the xxxxxx site?



If you want to just hold it something like a Ledger Nano is the most secure. If you trust the security of an exchange like coinbase or whatever you can just leave it sit there. Coinbase has some pretty good safeguards..2FA, white-listed withdraws on a 48hr timer and I think they might even have some sort of cold storage. Its really a personal choice on the value of the amount of coin you own.




Top
                 

Lead Pipe Mafia
Lead Pipe Mafia
Joined: 15 Oct 2007
Posts: 5943
PostPosted: 02-08-2021 05:24 AM           Profile   Send private message  E-mail  Edit post Reply with quote


Tesla just bought 1.5 billion bitcoin.




Top
                 

Kempston Joy
Kempston Joy
Joined: 11 Aug 2000
Posts: 48594
PostPosted: 02-08-2021 06:45 AM           Profile   Send private message  E-mail  Edit post Reply with quote


Wondered why it jumped today




Top
                 

Etile
Etile
Joined: 19 Nov 2003
Posts: 34898
PostPosted: 02-09-2021 01:16 AM           Profile Send private message  E-mail  Edit post Reply with quote


Κracus wrote:
Tesla just bought 1.5 billion bitcoin.


you mean $1.5bn *in* Bitcoin

1.5bn Bitcoin would cost $66tn

don't think even Elon has that kind of cash bro




Top
                 

Lead Pipe Mafia
Lead Pipe Mafia
Joined: 15 Oct 2007
Posts: 5943
PostPosted: 02-09-2021 04:52 AM           Profile   Send private message  E-mail  Edit post Reply with quote


This gem from 2014. I make typographical errors on a message board, you make financial ones. I'll stick with my typos.


seremtan wrote:
fucking magic beans :dts:

i hope you all burn to a crisp when the inevitable crash comes :|



Price breakdown of mistakes.

Kracus = 0$
Seremtan = 43,000$




Top
                 

Elite
Elite
Joined: 25 Mar 2000
Posts: 10054
PostPosted: 02-09-2021 06:05 PM           Profile Send private message  E-mail  Edit post Reply with quote


Just got into investing a while ago myself... I'll probably stay clear of crypto for a bit, seems too damn volatile. In Canada we have what they (confusingly) call a TFSA - Tax Free Savings Account. It is more properly described as a tax free investment account. Capital gains, dividends, etc. are 100% tax free (as long as you are not doing stuff that is obviously beyond the scope of a personal account, like making 50,000 trades per day on penny stock futures with a computer program). But there are limitations to the amount of money you can deposit into the account. For now I am sticking to basic stocks but I will probably venture into crypto at some stage. Christ I remember when Bitcoin was mere cents per coin. I had a friend who bought a fuck load of it and lost her wallet or lost the key or whatever and could not recover it, I think it would have been worth $500k+ at this stage. Hindsight is 20/20 as they say.

Thanks for that link Kracus, Tradingview.com looks pretty mint :up:




Top
                 

Lead Pipe Mafia
Lead Pipe Mafia
Joined: 15 Oct 2007
Posts: 5943
PostPosted: 02-10-2021 04:16 AM           Profile   Send private message  E-mail  Edit post Reply with quote


It really is, the free version is a bit limited but it's good enough for me to get a read on most crypto/stocks. If I hit the 10k I think I'll subscribe for the pro version.




Top
                 

Lead Pipe Mafia
Lead Pipe Mafia
Joined: 15 Oct 2007
Posts: 5943
PostPosted: 02-11-2021 08:53 AM           Profile   Send private message  E-mail  Edit post Reply with quote


Did two trades yesterday and moved my portfolio up 50%... FIL and CGLD, caught and sold at the exact right moments. I've noticed certain crypto's tend to move the overall dollar value of your account substantially more with short gains. CGLD has been so far a pretty good pick, I've had some coins in CGLD for a while now and been noticing steady gains since early January.




Top
                 

Digital Nausea
Digital Nausea
Joined: 10 Feb 2001
Posts: 24709
PostPosted: 02-11-2021 09:08 AM           Profile   Send private message  E-mail  Edit post Reply with quote


I sold my IOTA 8 days ago and it’s up 172% over the last week. Fuck my life...




Top
                 

Lead Pipe Mafia
Lead Pipe Mafia
Joined: 15 Oct 2007
Posts: 5943
PostPosted: 02-11-2021 09:22 AM           Profile   Send private message  E-mail  Edit post Reply with quote


Yeah... been there too..




Top
                 

Lead Pipe Mafia
Lead Pipe Mafia
Joined: 15 Oct 2007
Posts: 5943
PostPosted: 02-11-2021 09:58 AM           Profile   Send private message  E-mail  Edit post Reply with quote


Also in case anyone is wondering what my investment strategy is here's a picture that explains everything.




Top
                 

Kempston Joy
Kempston Joy
Joined: 11 Aug 2000
Posts: 48594
PostPosted: 02-11-2021 12:13 PM           Profile   Send private message  E-mail  Edit post Reply with quote


Mate of mine has just put £15k on ETH...




Top
                 

Lead Pipe Mafia
Lead Pipe Mafia
Joined: 15 Oct 2007
Posts: 5943
PostPosted: 02-11-2021 12:42 PM           Profile   Send private message  E-mail  Edit post Reply with quote


Yeah long term he should see a benefit.

I'm nearing 1k, not in Ethereum at the moment though. That's not very impressive though as I started with 1k.

So I've been experimenting with day trading and I think it might be a good idea to keep a tab of where I am here on the forum. Keep in mind this 1k is totally an experiment to see whether or not I can succeed in day trading crypto. If I lose 1k I lose 1k, I've already resigned myself to this fact.

So here's a recap of where I am so far, I started this in January.

1k turned into 420$

I know... not great. I started trading on coinbase and quickly realized the fee's there are atrocious. I then moved to coinbase pro where fee's were 0.5% Much better than the 2 - 4% I was getting at coinbase but still difficult to make profit. Once I hit 420 I had reached 10,000$ in trading volume which further reduced my interest to 0.35%.

Since reach 0.35% I have climbed back up to my current holdings which is 849$. biggest gain was yesterday where I went from 470$ to 823$. Today has been ho hum, I bumbled a GRT trade where I cashed out at 2% taking me to 849$ but it turned out I cashed out early and could have gained 6% instead, oh well.

So current is 849$. Down 150$ from my initial start in January.




Top
                 

Aneurysm
Aneurysm
Joined: 10 Dec 1999
Posts: 12260
PostPosted: 02-11-2021 10:18 PM           Profile   Send private message  E-mail  Edit post Reply with quote


I started in Jan and my ROI is 36% if I cashed out now.


I don't really daytrade. I will take profits at certain milestones and reinvest if the market has a significant dip. Currently have ETH, BTC and ADA.




Top
                 

Aneurysm
Aneurysm
Joined: 10 Dec 1999
Posts: 12260
PostPosted: 02-11-2021 10:28 PM           Profile   Send private message  E-mail  Edit post Reply with quote


shaft wrote:
Check out ADA.



80% increase since this post. :up:




Top
                 
Quake3World.com | Forum Index | General Discussion


Post new topic Reply to topic


cron
Quake3World.com
© ZeniMax. Zenimax, QUAKE III ARENA, Id Software and associated trademarks are trademarks of the ZeniMax group of companies. All rights reserved.
This is an unofficial fan website without any affiliation with or endorsement by ZeniMax.
All views and opinions expressed are those of the author.