Thread: Cryptocurrency

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  1. Member
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    #41
    Quote Originally Posted by boneil View Post
    I was thinking the same thing, plus when people get that cash present they might want to use it to get into cryptos. And then we have tax return time. I know it sounds crazy to think that people would use tax returns to buy cryptos, but I know many people who use tax returns to buy junk they normally wouldn't buy.
    -
    I didn’t even think of Santa money and tax returns.........even better!

  2. Member
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    #42
    If I got any return on taxes id put a little in, but I always break even

  3. Stocks/Investments Moderator boneil's Avatar
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    #43
    Impressive moves in crypto land. Every little bounce is getting sold. I've been trying to catch some bounce plays this morning, but just not happening.

    I have asked before,

    at what point do the miners start to lose money?
    doesn't the forking business go against the argument of scarcity?

    I am surprised by how well the liquidity is holding up on gdax. The spreads between bid/ask are usually small. I have seen a few times where there's a $50-$100 spreads. Spreads like that, will leave stop limits hanging in the wind with no fill.
    Last edited by boneil; 12-22-2017 at 07:25 AM.
    Thanos was the hero

  4. Stocks/Investments Moderator boneil's Avatar
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    #44
    I was going to post the other day that my wife saw her first "we accept Bitcoin" sign at restaurant the other day........................I bet they take that sign down.
    Thanos was the hero

  5. idbefishing
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    #45
    Me personally, I wouldn't accept crypto for payment. It would be beneficial if the value keeps rising, but no one would spend it in this case. They would spend it in a declining value period but would be bad for the business. You can take it and counting on it gaining value but is too risky especially if you're a small business. If it is stabilized and I can buy supplies for my business with, I'd have no issue accepting it for payment.

  6. Member alli ss's Avatar
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    #46
    Quote Originally Posted by boneil View Post
    Impressive moves in crypto land. Every little bounce is getting sold. I've been trying to catch some bounce plays this morning, but just not happening.

    I have asked before,

    at what point do the miners start to lose money?
    doesn't the forking business go against the argument of scarcity?

    I am surprised by how well the liquidity is holding up on gdax. The spreads between bid/ask are usually small. I have seen a few times where there's a $50-$100 spreads. Spreads like that, will leave stop limits hanging in the wind with no fill.
    the forks dont have anything to do with mining difficulty- the main thing is when the blocks get halved. instead of paying out 10 bitcoins itll only pay 5 or whatever. the hashes take more power to solve and the pay is less. mining back in the day was profitable but buying the stuff to do it now is not unless you are just upgrading over time.

    https://99bitcoins.com/bitcoin-minin...s-explanation/

    xpress x19, 200ho G2, aluminum sawtooth cut prop, paper sack tackle storage, ugly stik pro team, color c-lector

  7. Stocks/Investments Moderator boneil's Avatar
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    #47
    There's alot of spoofing going on in crypto land. When someone wants to sell a large position, they can put in a large limit buy order at a price, that buy order shows up in the order book, which everyone can see. People see that buy order and think it will act as support. Buyers then set their buy orders in front of the big order which runs the price higher and even more buyers come in and chase the price up. With price higher and with all the new buy orders in, the seller comes in with a big sell order knocking price down. Always to pull their big buy order, seconds or even micro seconds before it gets filled.

    The same thing happens when a big buyer wants to build a position. They turn their algos on, and let the computer do all the work.
    Thanos was the hero

  8. Member
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    #48
    Quote Originally Posted by boneil View Post
    There's alot of spoofing going on in crypto land. When someone wants to sell a large position, they can put in a large limit buy order at a price, that buy order shows up in the order book, which everyone can see. People see that buy order and think it will act as support. Buyers then set their buy orders in front of the big order which runs the price higher and even more buyers come in and chase the price up. With price higher and with all the new buy orders in, the seller comes in with a big sell order knocking price down. Always to pull their big buy order, seconds or even micro seconds before it gets filled.

    The same thing happens when a big buyer wants to build a position. They turn their algos on, and let the computer do all the work.
    yep, so if your trading be carful..HODL don't care

  9. Stocks/Investments Moderator boneil's Avatar
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    #49
    crypto land getting taken to the wood shed again. I think we see prices back down to Thanksgiving levels.
    Thanos was the hero

  10. Member
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    #50
    The big 3 aren't really doing anything. Every jump gets sold right back down. The alts are performing right now. I bought some more eth this morning. Just trying to decide to sale it for some alt or hold. I screwed up a little. I have some day trade money I play with. I had ada and sold it to early to get in a different coin. Still made some so not a huge deal but it sucks watching one you let go just keep on going lol. If it comes back i will get in it again. Freaking dash is whooping me right now. Might have to get some more just to average down a little

  11. Member
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    #51
    buy when there scared, sell when there happy

  12. Member
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    #52
    Quote Originally Posted by boneil View Post
    crypto land getting taken to the wood shed again. I think we see prices back down to Thanksgiving levels.
    hope prices do drop that far need a fire sale

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