smoothpete wrote:I'm smart enough to know that I know fuck-all about what will most likely happen when the futures go live, so think we'll just play it cool and see what happens. We got in at around $5000 so probably won't lose any of our initial investment, even if things go south and the price drops substantially. |
Cryptocurrency (Bitcoin, Ethereum etc) • Page 7
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phAge 25,487 posts
Seen 3 weeks ago
Registered 18 years ago -
smoothpete 37,743 posts
Seen 2 days ago
Registered 17 years agoI'd quit while I was ahead, then get back into it as and when it stablizes, but then again I'm risk averse generally.
Kicking myself for not buying as much as I could afford when it was £150. Never mind, I would have only pissed it away on cake. -
phAge 25,487 posts
Seen 3 weeks ago
Registered 18 years agoI guess you can make some sort of estimate as to the expected value of keeping or selling, by estimating how likely it is that the price will either drop drastically, rise drastically or stay the same.
Any reason to think that futures opening will cause the price to rise drastically? -
smoothpete 37,743 posts
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Registered 17 years agoI have no fucking idea. All I know is it's high now, and short selling is a definite risk factor. -
smoothpete 37,743 posts
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Registered 17 years agoI asked http://www.ask8ball.net/ 10 times in a row and it came up "don't count on it" 8 times, and "ask later" 2 times. -
Zeffi 1,070 posts
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Registered 7 years agoI don't think anyone know how it'll react. As I said before, everyone will get either nervous and sell or they'll gain confidence in the mainstream attention that's coming and start buying like crazy. -
sport 17,064 posts
Seen 20 hours ago
Registered 16 years agoThis really is what Stop losses are for. If you're on an exchange, set a stop loss of $13,000 for eg.
So if it drops, you'll lose a bit but get out. If it rallies, the stop loss won't execute and you'll gain.
The worst case scenario for you in that position, is if it drops to just below $13,000 (stop loss executes and sells), then it rallies back up straight after that. -
AboutHalfaStevas 2,765 posts
Seen 1 year ago
Registered 6 years agoWhich, in crypto, is a likely scenario (i.e. it dumps you out just before adding 10k to the price in about five seconds).
Also: stop hunting is a thing (though perhaps not as big a thing here as it is in Forex). -
phAge 25,487 posts
Seen 3 weeks ago
Registered 18 years agoMy thoughts are that, while we'll probably/likely see some drastic fluctuations when the futures open, 6 or 12 months down the line the price of BTC will still be substantially higher than it is today.
Or not. Or both/none. -
Load_2.0 33,582 posts
Seen 8 hours ago
Registered 18 years agoFor a stop loss to work surely you still need a buyer.
My concern is that a lot of people are in it short term, especially all the noobs flooding in now it's a news story.
So if it dives rapidly or there is a big hack. I can see mass panic selling. If a currency can shoot up in massive percentages based purely on speculation it can drop just as fast.
I'll stick to my frozen orange juice futures. -
Load_2.0 33,582 posts
Seen 8 hours ago
Registered 18 years agoStill would have been good to get in when it was being discussed here a few years back... -
phAge 25,487 posts
Seen 3 weeks ago
Registered 18 years agoIt certainly looks to be plunging right now. -
sport 17,064 posts
Seen 20 hours ago
Registered 16 years agoLoad_2.0 wrote:
Yeah, you're right, but I know in Gdax, it's possible to also set a Limit Price just below your stop price in the same Loss Order. Technically the matching engine of the exchange should at least sell at that limit price.
For a stop loss to work surely you still need a buyer.
My concern is that a lot of people are in it short term, especially all the noobs flooding in now it's a news story.
So if it dives rapidly or there is a big hack. I can see mass panic selling. If a currency can shoot up in massive percentages based purely on speculation it can drop just as fast.
I'll stick to my frozen orange juice futures.
That's what I've been told - I've never actually executed one where the price say dropped by 50% or something crazy. -
phAge 25,487 posts
Seen 3 weeks ago
Registered 18 years agoMfolf wrote:
So as a holder since the $5000 mark, who doesn't need to cash out any time soon, stay or get out now?
Clever-sounding stuff. -
chopsen 21,958 posts
Seen 11 hours ago
Registered 16 years agoSend my your private keys and I'll have a look. Could give you an answer by...tomorrow? -
sport 17,064 posts
Seen 20 hours ago
Registered 16 years agochopsen wrote:
This guy cryptos.
Send my your private keys and I'll have a look. Could give you an answer by...tomorrow? -
phAge 25,487 posts
Seen 3 weeks ago
Registered 18 years agochopsen wrote:
I would, but a friendly chap from the BTC reddit spotted that they were faulty and has promised to fix them - free of charge!
Send my your private keys and I'll have a look. Could give you an answer by...tomorrow? -
phAge 25,487 posts
Seen 3 weeks ago
Registered 18 years agoMfolf wrote:
Bought 0.5 BTC @4800 USD. Would suck to lose the 5000-ish dollars we're up at this point, but no disaster.
phAge wrote:
You’re basically investing in ecopy Pokémon cards. So it really depends on how much of that is real money and how much of that is just profit from your initial investment. And ultimately how comfortable you are with a shock.
Mfolf wrote:
So as a holder since the $5000 mark, who doesn't need to cash out any time soon, stay or get out now?
Clever-sounding stuff. -
DamoVotf 1,465 posts
Seen 1 year ago
Registered 15 years agoNo one can answer your question, a lot of us think its a bubble, but that doesn't mean it cant go a lot higher. I would say do whatever makes you happy and if you take it off then never look at bitcoin again.
I just made an analogy to a friend:
Bitcoin is like this year's Christmas toys that everyone wants. Except Christmas toys actually do something. -
phAge 25,487 posts
Seen 3 weeks ago
Registered 18 years agoYeah. We gonna HODL and see what happens in the long run. -
Rhaegyr 5,499 posts
Seen 2 weeks ago
Registered 10 years agoHow do you deal with the smug mate who's now made over £20k (who's unemployed) with his repeating "I told you so" (he didn't) comments?
I'm so angry/jealous/mad at myself. -
askew 24,121 posts
Seen 5 days ago
Registered 16 years agoSurely until he sells he's made fuck-all. -
Load_2.0 33,582 posts
Seen 8 hours ago
Registered 18 years agoTell him to get a job. -
phAge 25,487 posts
Seen 3 weeks ago
Registered 18 years agoRhaegyr wrote:
So he's made a couple months salary, yet is unemployed? I know who I'd rather be. Assuming you have a job, of course.
How do you deal with the smug mate who's now made over £20k (who's unemployed) with his repeating "I told you so" (he didn't) comments?
I'm so angry/jealous/mad at myself.
Otherwise I'd probably have a complete meltdown. -
Rhaegyr 5,499 posts
Seen 2 weeks ago
Registered 10 years agoYou get a £10k per month salary?! -
Rhaegyr 5,499 posts
Seen 2 weeks ago
Registered 10 years agoI do have a job hah .gif)
He bought two coins when they were worth £30 each many years ago.
Loving the "get a job/you've not earned anything until you sell" answers though - thanks
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Simple, you go all in now, buy 100 coins, then wait till it hits $50k, then you sir will be King Smug!
.gif)
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