discuss Bitcoin above $16,000. Where is it headed?

[Arpit131]

Bitcoin is already trading at $16,300+

Where do you think it will cap out?

 

[wwwweb]

Have you tried Cex.io ?

No, I saw some reviews they don't trade XRP, but otherwise they looked pretty decent.

XRP has been fun trading past 2 days, even today, all day .44 - .55 back, and forth like clockwork.

The fees, and spreads are pretty steep compared to securities, the exchanges are making great margins, but it is fast moving so right now it is all working out. Many times just taking a position at market price, I am down $500-$1K right off the bat, but an upward swing in 5-10 mins pushes that into $1-2K+ quickly in the green..

 

[SirDrago]

No, I saw some reviews they don't trade XRP, but otherwise they looked pretty decent.

XRP has been fun trading past 2 days, even today, all day .44 - .55 back, and forth like clockwork.

For XRP go to Poloniex their trade volume is higher than most (Top 3).
All new servers and great staff.
Only thing is verification and transfer time can be delayed due to high volume.

 

[wwwweb]

For XRP go to Poloniex their trade volume is higher than most (Top 3).
All new servers and great staff.
Only thing is verification and transfer time can be delayed due to high volume.

Yes, read good things about them also, I spend a lot of time reviewing the different sites, there is a lot of information online. Many frustrated people out there right now who have 5-6 figures tied up in verification, especially frustrating given with ETH, and XRP have done this week.

 

[xynames]

Does cex.io have limits like the $15,000 one coinbase imposes at the beginning?

 

[SirDrago]

Yes, read good things about them also, I spend a lot of time reviewing the different sites, there is a lot of information online. Many frustrated people out there right now who have 5-6 figures tied up in verification, especially frustrating given with ETH, and XRP have done this week.

Well worth the wait in my opinion.
Once your account is setup everything is golden.

 

[urlurl]

does coinbase take paypal

 

[SirDrago]

does coinbase take paypal

Xapo
Paxful
Coinmama

Check fees!!!

All platforms limit deposits until you verify your account with I.d.

 

[urlurl]

ive never even heard of those

how does one get money into and out of coinbase

 

[SirDrago]

ive never even heard of those

how does one get money into and out of coinbase

Using your wallet ID ...
Did I understand your question right?
PLZ watch a few "How to" videos YouTube.

 

[xynames]

But even after I verified my ID on coinbase it limits me to $15,000.

Yes coinbase does take PayPal with a 2.5% fee.

I have my coinbase linked to a business checking account and I’m still limited to $15,000 of buying. However, I don’t really use coinbase for much most of my coins are in a different blockchain, one that doesn’t verify identity and has no limits - but - as a US Citizen or rather resident I cannot convert my btc to cash in that blockchain wallet. I mean they can’t really stop me from converting to cash per se but the partner they’ve linked with to facilitate sales of btc won’t let a USC be a member and that partner is the entity that allows you to sell off your coins from that blockchain.

So when it comes time to sell sell SELL! I'll need to move all the coins to some entity that allows me to sell. And with such low limits of $15,000. at coinbase, that's going to take too long. Plus I don't like that coinbase will report me to Dept. of Treasury for all transactions amounting to over $20,000. in a year.

Maybe if I started using coinbase more my limits would be raised, but I still don't like that they will report me.

 

[urlurl]

can coinbase give proceeds and pay paypal if i wanted to get money out too

 

[xynames]

When you start off with coinbase - cause I have a credit card attached to it too - at least your initial limits to buy will be so low on PayPal (I assume - because my credit card buying limits are really low and I’ve never used a credit card to buy btc anyway) that it probably won’t even be worth it.

Really, you gotta ask someone who has linked his PayPal to coinbase. I haven’t done that.

 

[xynames]

This thread got me thinking. As long as we're discussing trading, I looked back at some of my old trades.

I still have many screenshots from my stock trading days sitting in a folder on my main computer because a friend and I use to trade like crazy and then have competitions to see who could buy more of AMZN or GOOGL or whatever in a given day.

Here is one from one of my accounts, in 2015:

When you buy 1000 shares of a stock like GOOGL it sometimes takes a bunch of little fills to fill it.

So, yes, I made about a grand on each trade, WHEN IT WENT WELL (which wasn't always) and that used to be my goal...$1000. a day, which that day in March, these two trades, I made $1200., but if I'd just held those 1000 GOOGL until now I'd be up...well, more than I care to calculate, with NO effort!

And sometimes I would get stuck and have to hold a half million or even over a million dollars of AMZN, GOOGL or whatever waiting for it to come back, and be down ten twenty thirty or more grand, just waiting until it went back up, which was no fun at all.

Oh, and another thing...SEC fees? those "little tiny" few pennies per dollar? Well when you're selling a million dollars worth of stock and you notice they just snatched around twenty bucks out of your trade, you call your broker and ask, wth? I thought my commission was under ten bucks, why isn't this adding up?...and then after a long pause he comes back and says, oh yeah...SEC fees...those can actually add up when you're selling at that level. So over time, thousands of trades, THAT all starts eating into your profits too.

I still traded some in 2016, but in 2017, I've traded very little, more position trading and buy and mold. My accountant will be happy too because now he'll be getting 1099s with mostly dividends reported and not seventy pages of trades! which the brokerages have a hard time keeping track of your basis when you trade that quickly, such as if you hold some shares long term and day trade the same stock, so you're constantly arguing with them over FIFO and LIFO bases for your trades.

So, having learned the hard way that sometimes buy and hold is best, I choose...to continue to hodl BTC!

Don't get me started on trading again! I'm not going down that crazy path with crypto.

Good luck to any of you who do choose to trade cryptos. I'll be holding instead.

 

[Keith]

For those that don’t like Coinbase because of the withdrawal limits - use gemini.com. No limit and easy wire transfers in/out.

 

[mad409]

Can ETH futures BTC be purchased? If so where is the best place? TY..

 

[xynames]

I guess they are thinking about it, but not available yet
CBOE and CME Group Rumoured to Be Mulling Ethereum and Litecoin Futures
https://www.financemagnates.com/ins...-cme-group-mulling-ethereum-litecoin-futures/

I did find this at bitmex
https://www.bitmex.com/app/seriesGuide/ETH
but I'm not sure if it is actual trading or a hypothetical example.

 

[SirDrago]

Can ETH futures BTC be purchased? If so where is the best place? TY..

BitMex

 

[wwwweb]

BitMex
Show attachment 75255

Call me crazy but I am selling a trade against ETH right now for a short term trade at 740, it has been on fire past few days, trying to catch a quick pull back to profit from.

 

[SirDrago]

Call me crazy but I am selling a trade against ETH right now for a short term trade at 740, it has been on fire past few days, trying to catch a quick pull back to profit from.

You are crazy lol
BTC just dipped below 16k put your money there for 2 hrs and get paid.

 

[wwwweb]

You are crazy lol
BTC just dipped below 16k put your money there for 2 hrs and get paid.

Show attachment 75262

Seems like the action on bitcoin has slowed making it harder to trade against less volume swings, been having more faster paced moves on eth, and xrp all day. Just for trading purposes, plus I can get a bit more bang for my buck, at $16K the spread kills, and you can't buy as much.

 

[SirDrago]

Makes sense of your making cash. Two days ETH, XRP and today EMC2 filled my pockets.

 

[wwwweb]

Makes sense of your making cash. Two days ETH, XRP and today EMC2 filled my pockets.

Yea, for now, only a matter of time before I get caught, need to take my money, and run now, I don't know how long this keeps up, I can see them trying to push ETH upto $1,000 at least. XRP there is a lot of float out there so every 1 cent move really moves the marketcap.

If I can just find the next coin these traders are going to push into when they get ETH up there, that could be a possible 6 figure upswing for me.

 

[xynames]

I saw BTC hit 15,800 then next thing you know it was 16,800 - earlier today. It seemed like just an instant later.

 

[wwwweb]

Covered my position in ETH made $60 per on the down slide, XRP just bolted, looks like they want to push it to $1. Lots of ETH money got piled in there, BTC seems to be creating a nice base around $16K, big spread, and expensive price makes it not as exciting to trade. Good for long term holders who are looking for stability.

 

[xynames]

Hey! I just got this email:

As a reminder, if you had bitcoin in your __________ wallet prior to August 1st, get excited because you'll see an equal amount of Bitcoin Cash in your wallet now!

are you kidding me? I just logged in and clicked and it's there, worth about 1/9 or so of the rest but a gang of loot, for nothing?? Can this be right???? They just gave me that for free!

Did anyone else get anything like that?

---

Maybe it was in there before? I never bothered to click to look at that category of bitcoin cash I was always just looking at the BTC value.