The Bitcoin, Blockchain, and Cryptocurrency Thread

[buksida]

I wouldn't be longing anything at the moment, but then again I'm no longer in the day trading game.

[Lost]

Buying one last dip...

[Spitfire]

Buying and holding is risky as hell with crypto, especially at the moment, unless you bought for peanuts and are holding from a while back and can wait it out.
For me, I'm just day trading with an amount that is superfluous if lost... like 500-700 bucks a pop.
However, it's enough to catch waves each day and make 10-20 bucks a wave if timed right, and the tech indicators (like RSI/MA/resistance levels etc. all align), then do it 3-4 times a day... meaning up to 50-60 bucks a day profit in the inbox.
That translates into like 20-30k a month... which I'll accept as reasonable for today's situation. Of course, it's different strokes for different folks on the numbers, but I'm fairly conservative and don't risk too much... more of a grab small amounts often type of MO.
I could go more, but I try to stay out of yee-haa territory and apply cold technical indicators to my buy/sell decisions without risking too much.
I'm not going to give out a tutorial on day trading as you all don't need it, but I'll say how I do it. IMO only, the way to make day trading work, is to go into it with a set amount that can be made/lost each time or how much the position can be degraded if you make the wrong call... but catch small waves and not be greedy, set your level to bail once you make a profit (then rinse and repeat). In and out with a 10-20 buck profit, done multiple times a day, and over a month, it adds up.
Always chasing big wins is a cornerstone of failure with stock markets and gambling in general... the smart move is steady but sure and plan your trades in/out with multiple buy/sell operations.
Although, I totally get that day trading is not for everyone and many have been there and done it. I like the ride of it as long as I'm not risking too much... and getting much better at it now.


Edit - I'm just the regular dude playing the day trade market and supplementing his income whilst not risking too much. But, nothing ventured, nothing gained etc.

[Lost]

8th June:

I believe there's another 15-20% minimum to come off bitcoin and the larger of the altcoins.

Well we've passed the 20% mark already... that was quick.

[Spitfire]

ETH is about to test and maybe drop below the $1k level... man, that's low. Itchy trigger finger on it.

[Lost]

Elon Musk sued for $258 billion for promoting the 'pyramid scheme' Dogecoin. Over three times the total value of Dogecoin at its highest point ($85 billion, May '21).

Sounds fair.

https://nypost.com/2022/06/16/elon-musk ... id-scheme/

[buksida]

Its one muppet that probably bought DOGE after Musk shilled it on Twitter last year, doesn't deserve a cent IMO, and this will get thrown out of court in a matter of minutes.

However, the Fed and SEC would like to see crypto completely destroyed so that they can keep promoting their own Ponzi scheme called the greenback which has been reliably devaluing for the past century

[buksida]

Man robbed Bangkok gold shop to make up for crypto losses
A gunman who stole necklaces worth 2 million baht from a Bangkok gold shop on Saturday (June 18) was attempting to make up for his massive losses in cryptocurrency trading, police said on Sunday.

Police said the suspect confessed to committing the robbery out of financial stress caused by crypto losses. To protect his legal rights, his identity was not revealed.

The robbery occurred at the Buan Lee gold shop on Chakkraphet Road in Bangkok’s Phra Nakhon district.

A man wearing a face mask entered the shop on Saturday before pulling a handgun from his backpack and waving it at staff and customers.

https://www.thestar.com.my/aseanplus/as ... ses-police

He had the right idea, gold has outperformed crypto so far this year.

[Spitfire]

Hey folks,
Been trading Apecoin, the one attached to NFTs about the popular bored ape or whatever style for last couple weeks, and it is nuts with so many swings recently from $3.5 to $5.3 today... so many chances to buy and sell with good margins if you have like 500 bucks or more/even less.
It's a really good coin from it's launch as it had a few advantages over some of the others from the off.
Also, going to be watching ADA as their hardfork is on the 29th, so could be a long opportunity there too... maybe.

[pharvey]

Hey folks,
Been trading Apecoin, the one attached to NFTs about the popular bored ape or whatever style for last couple weeks, and it is nuts with so many swings recently from $3.5 to $5.3 today... so many chances to buy and sell with good margins if you have like 500 bucks or more/even less.
It's a really good coin from it's launch as it had a few advantages over some of the others from the off.
Also, going to be watching ADA as their hardfork is on the 29th, so could be a long opportunity there too... maybe.

What trading forum/base/software are you using? I'm based in the UK, but assume you can access most online? I have been using Coinbase in the past, but hardly the best or most user friendly!!

[buksida]

I use Binance for most things, and a layer-two on MetaMask now and then when doing DeFi. When I want fiat out, I convert to stablecoins and send them to Bitkub, then Kbank (small amounts to stay under the radar), the entire process takes about five minutes. Gave up on Coinbase due to their excessive fees and the premise that they allow governments to access customer data - kinda goes against the concept of crypto.

Another good thing with Binance is that they give good yields on stablecoins - try getting 4-5% on USD in a bank, your money is actually devaluing when you leave it in a bank, more so with high inflation.

Lots of bottom/floor signals flashing now so could be a good long-term entry point soon. BTC is trading below several historical price models (I still think a final flush out is coming though) - http://charts.woobull.com/bitcoin-price-models/

[Spitfire]

What trading forum/base/software are you using? I'm based in the UK, but assume you can access most online? I have been using Coinbase in the past, but hardly the best or most user friendly!!

Pretty much what Buksida said. Binance is good and easy to sign up for, just a pic of passport, fill out basic info and a selfie of yourself and you're off.
Also, withdrawing is easy... any Visa/Mastercard account is fine, can use SWIFT too but they charge like 15 bucks for that, I guess to make you do it less often or only bigger amounts.
I also like Binance because of just how many coins they let you trade in, loads of them.
Not a fan of Bitkub as they are too persickety on what info they want off you, not just your entire identity but all sort of nonsense unrelated to trading... even make you take a questionnaire to see if you are a trading muppet or not before you get approved. Nah, no way... also, if some junta-boy dinosaur suddenly decides it's game over, then it could happen fast and you know what this lot are like on stuff like that with their flop-flops and 180s on things.

[buksida]

Not a fan of Bitkub as they are too persickety on what info they want off you, not just your entire identity but all sort of nonsense unrelated to trading... even make you take a questionnaire to see if you are a trading muppet or not before you get approved. Nah, no way... also, if some junta-boy dinosaur suddenly decides it's game over, then it could happen fast and you know what this lot are like on stuff like that with their flop-flops and 180s on things.

All Thai banks/finance institutions give you that stupid questionnaire - its just to ascertain your risk appetite, I bullshitted my way through it. There are no personal questions in it.

Totally agree on the junta dinosaur being able to kill Bitkub at a whim (they did it last year) - which is why I never keep more than about a hundred bucks in there. It is also very handy for moving money in and out of the country without Thai bank/govt restrictions.

[buksida]

Looks like those dinosaurs are already meddling:

SEC orders review of KUB coin listing
The Securities and Exchange Commission (SEC) ordered Bitkub Online to review KUB coin's presence on the exchange after finding it does not meet the regulatory listing requirements and criteria.

Bitkub must review the selection and listing process and present evidence that KUB coins comply with the exchange's listing criteria within 30 days, from July 1.

According to the SEC, Bitkub claimed the KUB project's technology met Bitkub's standard at an "unprecedentedly" high level, but there was no evidence or documentation to support such a claim. The exchange said the coins are eligible for public fundraising and pre-initial coin offering sale, which are not the coins' functions.

Thus, the SEC deemed the overall selection score of KUB coin was invalid, and decided the coin was ineligible for trade on any cryptocurrency exchanges.

https://www.bangkokpost.com/business/23 ... in-listing

Nearly every major exchange has its own token to facilitate trading, not sure why this one should be any different, but the junta clearly doesn't like crypto which is hardly surprising.

[Henry 14th]

Looks like those dinosaurs are already meddling:

SEC orders review of KUB coin listing
The Securities and Exchange Commission (SEC) ordered Bitkub Online to review KUB coin's presence on the exchange after finding it does not meet the regulatory listing requirements and criteria.

Bitkub must review the selection and listing process and present evidence that KUB coins comply with the exchange's listing criteria within 30 days, from July 1.

According to the SEC, Bitkub claimed the KUB project's technology met Bitkub's standard at an "unprecedentedly" high level, but there was no evidence or documentation to support such a claim. The exchange said the coins are eligible for public fundraising and pre-initial coin offering sale, which are not the coins' functions.

Thus, the SEC deemed the overall selection score of KUB coin was invalid, and decided the coin was ineligible for trade on any cryptocurrency exchanges.

https://www.bangkokpost.com/business/23 ... in-listing

Nearly every major exchange has its own token to facilitate trading, not sure why this one should be any different, but the junta clearly doesn't like crypto which is hardly surprising.

I’d be surprised if they went after Bitkub. Since SCB bank’s acquisition of Bitkub it would appear that the exchange is here to stay for the foreseeable future.

Their legacy token could be a problem with the SEC here but tue exchange operations seems solid.

Hope this post isn’t a jinx.


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