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?

 

[teper]

Isn't it possible to load ones bitcoin at another exchange using his/her wallet address and start transaction there ?

Yea but withdrawing can happen only when your KYC is completed.

 

[-EM-]

As long as are money to be laundered, the price will go up After it is finished it will be a huge drop.

 

[teper]

Money laundering is definitely a serious issue for any crypto currency.
One can easily transmit bitcoins from one address to another and then the receiving party can with draw it as their local exchange. But yea here KYC will be important as most exchanges require KYC to be done for withdrawal.

 

[xynames]

If you created a wallet like mine, completely anonymous logging in only via proxy during its entire history, and never cashed it out, you might never know who is behind it. Still, they could track down the people or entities who sent me coins over the years and slap them around and demand, To whom did you send it? (of course, cops wouldn't use the proper whom, but, you get the idea), and if any one of them broke under questioning, assuming I gave my real identity to any one of them, lol, they could find me that way.

Also once I start cashing out there will be a definite trail.

And anyway, even with anonymous wallets there is still a trail between all transactions, so bitcoin transactions are just as traceable as money transfers.

So really, bitcoin is not the greatest way to transfer funds without a trace.


I mean, all the transactions are recorded and at the end of the day you must cash out somehow.

I have more than one wallet on multiple exchanges but as a US citizen / US resident I’m not allowed to convert to cash on all of them. The identification requirements to open wallets have become more stringent too for example coinbase - and I don’t keep much at coinbase - fully identifies you now before they allow you to do much in the way of buying, selling or cashing out.

Most of my coins are in one wallet and on that particular wallet I’m not allowed to convert to cash because I’m a USC. I picked that wallet because it is secure and never been hacked and also, as I allude to above, completely anonymous.

I’m also not a trader so I’m the wrong person to ask about trading. I merely collect and HODL.

 

[xynames]

Ethereum just topped $600. I don’t have any but I have friends who do including one who got in at about $190. and is still holding.

 

[4better]

It's more than 17,000 USD now. I think 20k this Christmas is within reach. Just a wild guess.

 

[xynames]

Yes, it's looking good Billy Ray!

Reminds me of when NFLX or AMZN get a new one year price target, and then it hits before the end of the week, lol.

 

[xynames]

What is strange is that Okcoin, which is usually the highest exchange, is actually lower right now than the rest, by a lot. GDAX is the top (other than some of the foreign country exchanges) at 17,440. at the moment.

 

[xynames]

I am hoping it's about to island hop up past 18K

More so when you don't see what's in front of you.

And what I see...is 18K!

As advertised!

 

[Grilled]

 

[wwwweb]

I haven't been looking at any charts, but it looks like traders are just having a field day with crypto currencies, they take it up a set amount, then sell, then short down, then take it back up, etc.. they make profits then move to the next one down the chain. I can't even imagine what programmed traders are making right now, ETH has been doing this all day, up, then down, then back up, fast quick bounces.

 

[xynames]

There's actually no way for traders to "short" the various oddball crypto currencies yet.

There will be a way to short btc via futures soon:
https://www.bloomberg.com/news/arti...oon-short-futures-through-interactive-brokers
and via Deribit you may purchase puts on bitcoin.

I've done a lot of trading over the years, probably over a hundred thousand trades, and the problem with trading is that you look at a pattern, and think it is definitive, hit it once or twice, and then on the third try or so, sometimes the stock moves against you and takes away all you made that day, and then some, and then if you are inexperienced or are into more than you can afford to hold overnight, you panic sell or panic cover.

Day trading is a zero net sum business, where whatever one trader makes is the result of a loss from another trader. And most day traders lose money over time, some say as much as 90% lose money

I did well with trading because I tended to go long, and the stocks I picked went up over time anyway. But looking back I realized that I would have done better with most of the stocks if I'd just bought and held, so I don't really day trade much any more, more position trade over a longer period of time, or just buy and mold.

 

[wwwweb]

There's actually no way for traders to "short" the various oddball crypto currencies yet.

There will be a way to short btc via futures soon:
https://www.bloomberg.com/news/arti...oon-short-futures-through-interactive-brokers
and via Deribit you may purchase puts on bitcoin.

I've done a lot of trading over the years, probably over a hundred thousand trades, and the problem with trading is that you look at a pattern, and think it is definitive, hit it once or twice, and then on the third try or so, sometimes the stock moves against you and takes away all you made that day, and then some, and then if you are inexperienced or are into more than you can afford to hold overnight, you panic sell or panic cover.

Day trading is a zero net sum business, where whatever one trader makes is the result of a loss from another trader. And most day traders lose money over time, some say as much as 90% lose money

I did well with trading because I tended to go long, and the stocks I picked went up over time anyway. But looking back I realized that I would have done better with most of the stocks if I'd just bought and held, so I don't really day trade much any more, more position trade over a longer period of time, or just buy and mold.

I would have said the same thing, until I finally got up, and running on an exchange, and it is really just programmed trading almost like a tennis match, back, and forth all day long. I am not even trying, and I averaged 7% return yesterday, about 11% today, but I can see how many in the domain space have their attention into this industry, as there is a lot of money behind it.

Coinbase can't even keep up with registrations, and ID verification right now. Lot of traders sold bitcoin, and traded into ETH. This money just keeps moving, in, and out of different coins.

 

[SirDrago]

I would have said the same thing, until I finally got up, and running on an exchange, and it is really just programmed trading almost like a tennis match, back, and forth all day long. I am not even trying, and I averaged 7% return yesterday, about 11% today, but I can see how many in the domain space have their attention into this industry, as there is a lot of money behind it.

Coinbase can't even keep up with registrations, and ID verification right now. Lot of traders sold bitcoin, and traded into ETH. This money just keeps moving, in, and out of different coins.

Have you tried Cex.io ?

 

[xynames]

I’ll look into it. Thanks.

And yes it does appear that the temporary drop in btc past day or two is due to a focus on the other cryptos.

 

[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.