Author Topic: Anyone bought BitCoin?  (Read 1606 times)

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Online larrabee

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Re: Anyone bought BitCoin?
« Reply #30 on: November 29, 2017, 03:40:45 PM »
I'm up €12 just since this morning!   This investing thing is easy!

Dennis, if you don't mind, tell me more about how you trade currency.  Do you obsessively follow the news to try to guess what's happening?

You're going to have your millions made in no time.  :D
March 29th 2013-Moved to UK, husband on spouse visa.Oct 20th 2015-Applied by mail for FLR(M).Feb 1st 2016 FLR(M).

Offline Ben1989

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Re: Anyone bought BitCoin?
« Reply #31 on: November 30, 2017, 08:12:26 AM »
I'm up €12 just since this morning!   This investing thing is easy!

Dennis, if you don't mind, tell me more about how you trade currency.  Do you obsessively follow the news to try to guess what's happening?

Are you referring to me as Dennis?

Interestingly Bitcoin dropped by $2,000 yesterday! It's back up and rising however
« Last Edit: November 30, 2017, 08:16:19 AM by Ben1989 »
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Offline jimbocz

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Re: Anyone bought BitCoin?
« Reply #32 on: November 30, 2017, 11:50:00 AM »
Sorry Ben, got confused .  I haven't met you at Teddington swimming pool have I?

Offline KFdancer

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Re: Anyone bought BitCoin?
« Reply #33 on: November 30, 2017, 12:19:43 PM »
Sorry Ben, got confused .  I haven't met you at Teddington swimming pool have I?

Tell me you weren't trying to show him you had a net in your swim trunks!!!   ;D ;D ;D ;D

Offline jimbocz

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Re: Anyone bought BitCoin?
« Reply #34 on: November 30, 2017, 12:41:49 PM »
Mind out of the gutter young lady.

Offline Ben1989

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Re: Anyone bought BitCoin?
« Reply #35 on: November 30, 2017, 01:24:05 PM »
Sorry Ben, got confused .  I haven't met you at Teddington swimming pool have I?

Haha I can happily say you haven't met me at TSP  ;D

So I'm a day-trader really as I literally do not have the patience for long trading haha. When I started months ago I got all my mistakes out of the way which i'll list

- you need patience (even applies to day trading)
- do not panic
- do not trade on a weekend (forex closes Friday night to Sunday night) and will be hit hard on Monday morning by events that occurred over the weekend.
- do not trade on a Friday
- do not trade 'exotic' currencies (too volatile and their spread is too big)
- do not trade Swiss Franc (just always end up losing money with it so it's my bad luck currency)

To your question, yes when I started I was refreshing the charts every 60 seconds. But you end up panicking too much when you witness a big drop and close it to find out three hours later you would have ended up in profit!

I trade on a app/site called Trade.com and a site called investing.com to get all my news. News announcements are hard! Sometimes they go your way, sometimes they go the opposite(!), and sometimes completely unchanged. Because of this, I use a technique called Straddle trading which covers all bases. I only trade on main announcements though (unemployment, budget etc)! It's exciting
15/03/2013 - Met in Cancun
29/11/2013 - Engaged
25/02/2014 - Married
09/03/2014 - Electronic Visa Application Submitted
13/03/2014 - Biometrics Completed
21/03/2014 - Application Paperwork Received by Sheffield
29/04/2014 - Application Approved!
02/05/2014 - Visa Received!
09/01/2017 - FLR(M) Granted!
06/06/2017 - Little Nipper born

Offline jimbocz

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Re: Anyone bought BitCoin?
« Reply #36 on: November 30, 2017, 01:30:35 PM »
That's completely fascinating.  If you make money on a trade, does that mean that someone, somewhere between against you and lost?  That's got to be incredibly stressful.

Offline Ben1989

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Re: Anyone bought BitCoin?
« Reply #37 on: November 30, 2017, 02:00:05 PM »
That's completely fascinating.  If you make money on a trade, does that mean that someone, somewhere between against you and lost?  That's got to be incredibly stressful.
Yep. There is always a buyer for a seller and a seller for a buyer!

For instance I made £40 this morning trading the Euro against the Japanese Yen. I spotted a trend with the Euro dropping, then noticed a complete opposite movement which I got in on time. Get involved with a demo account, you get £10k to play with  ;D
15/03/2013 - Met in Cancun
29/11/2013 - Engaged
25/02/2014 - Married
09/03/2014 - Electronic Visa Application Submitted
13/03/2014 - Biometrics Completed
21/03/2014 - Application Paperwork Received by Sheffield
29/04/2014 - Application Approved!
02/05/2014 - Visa Received!
09/01/2017 - FLR(M) Granted!
06/06/2017 - Little Nipper born

Offline jimbocz

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Re: Anyone bought BitCoin?
« Reply #38 on: November 30, 2017, 02:38:56 PM »
I don't know man, I'm sure I'd get eaten alive.  Judging from my experience with BitCoin which was paying the highest fees possible, getting in at the all time high then watching the price drop.

Online larrabee

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Re: Anyone bought BitCoin?
« Reply #39 on: November 30, 2017, 03:06:08 PM »

So I'm a day-trader really as I literally do not have the patience for long trading haha. When I started months ago I got all my mistakes out of the way which i'll list


Is this a hobby or do you make a living at it?
March 29th 2013-Moved to UK, husband on spouse visa.Oct 20th 2015-Applied by mail for FLR(M).Feb 1st 2016 FLR(M).

Offline Ben1989

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Re: Anyone bought BitCoin?
« Reply #40 on: November 30, 2017, 03:13:22 PM »
Yeah the value has dropped by 20% in 24 hours but don't despair. The value (in my, and many others, opinion) is driven by the effort that goes into creating new bitcoins.

I don't know if you know or not so excuse me if it's what you already know in my best efforts to comfort you.

Bitcoins are created by mining. This is where people with the right computer software and power verify bitcoin transactions by solving complex mathematical problems. This keeps bitcoin safe and they are rewarded by their success with bitcoins!

So these computer boffins effectively mint the bitcoins. However, the amount of bitcoins available to mine halves exponentially so less become available over time. So bitcoins become 'rarer' which helps drives up price.

Additionally, bitcoins also become significantly more difficult to mine. They require so much computer energy that its extremely expensive in electricity. This means bitcoins become expensive. Just like gold, if it's rare, a finite number (like bitcoins, which will cap out at 21 million), and difficult to get drives up price.

So don't despair, it'll recover, I'm sure :)
15/03/2013 - Met in Cancun
29/11/2013 - Engaged
25/02/2014 - Married
09/03/2014 - Electronic Visa Application Submitted
13/03/2014 - Biometrics Completed
21/03/2014 - Application Paperwork Received by Sheffield
29/04/2014 - Application Approved!
02/05/2014 - Visa Received!
09/01/2017 - FLR(M) Granted!
06/06/2017 - Little Nipper born

Offline Ben1989

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Re: Anyone bought BitCoin?
« Reply #41 on: November 30, 2017, 03:15:15 PM »
Is this a hobby or do you make a living at it?

It's just a hobby I do at night, in a morning and on my breaks at work
15/03/2013 - Met in Cancun
29/11/2013 - Engaged
25/02/2014 - Married
09/03/2014 - Electronic Visa Application Submitted
13/03/2014 - Biometrics Completed
21/03/2014 - Application Paperwork Received by Sheffield
29/04/2014 - Application Approved!
02/05/2014 - Visa Received!
09/01/2017 - FLR(M) Granted!
06/06/2017 - Little Nipper born

Offline x0Kiss0fDeath

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Re: Anyone bought BitCoin?
« Reply #42 on: December 01, 2017, 09:03:15 AM »
I bought a house for $100,000 in 1999. I didn't pay attention to house prices again until 2004 when it had gone up to $300,000. I remember thinking, "Holy crap! If I hold onto this thing it'll just keep going up forever and someday I'll be a millionaire!" Then the bubble burst in 2008. I am not a millionaire.  :)

https://splinternews.com/hey-idiots-youre-gonna-lose-all-your-money-on-bitcoin-1820805131

I was literally going to post here that it seems like a massive bubble that could burst at any minute and I wouldn't trust it..lol beat me to it!

Offline jimbocz

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Re: Anyone bought BitCoin?
« Reply #43 on: December 01, 2017, 11:41:48 AM »
I'm €15 down at the moment.  Come on you guys, buy the dip!

Offline Ben1989

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Re: Anyone bought BitCoin?
« Reply #44 on: December 04, 2017, 05:53:43 PM »
I'm €15 down at the moment.  Come on you guys, buy the dip!
How about now  ;)
15/03/2013 - Met in Cancun
29/11/2013 - Engaged
25/02/2014 - Married
09/03/2014 - Electronic Visa Application Submitted
13/03/2014 - Biometrics Completed
21/03/2014 - Application Paperwork Received by Sheffield
29/04/2014 - Application Approved!
02/05/2014 - Visa Received!
09/01/2017 - FLR(M) Granted!
06/06/2017 - Little Nipper born