Author Topic: Bitcoins  (Read 151 times)

TERMINATOR

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Bitcoins
« on: May 16, 2017, 03:51:36 PM »
Well, I was considering using bitcoin casinos, but I just noticed how the price of bitcoins has skyrocketed the passed month. I am concerned that if I buy them now, they will drop in price and lose half my investment. Should I wait until they drop? I am new to bitcoins and was not aware of this volatility.


 

Rinad

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Re: Bitcoins
« Reply #1 on: May 16, 2017, 10:10:04 PM »
 

    terminator, can you tell me how you can turn your bitcoins into $$$  ???

just curious, never used them. thanks,
Rinad
 

Jake007

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Re: Bitcoins
« Reply #2 on: May 16, 2017, 10:14:40 PM »
Yes bitcoin price can be volatile. You can hold bitcoin on the website http://www.uphold.com and convert it to USD if you are concerned about price fluctuation. There is a fee to do this which is 0.75% (almost 1%).

EDIT: you can also convert to a crypto-currency equivalent to USD which is called Tether (USDT) right here...

https://tether.to

They have both a web wallet and a smart phone wallet app. If Im not mistaken there are no fees at all to convert from BTC to USDT and back again. It just takes time to process which could be 15 minutes or a couple hours depending on how volatile bitcoin price is.
« Last Edit: May 16, 2017, 10:18:12 PM by Jake007 »
 
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TERMINATOR

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Re: Bitcoins
« Reply #3 on: May 17, 2017, 04:13:56 AM »
Thanks Jake, I will keep those links in mind.

But my main concern is this. Let's say I purchase $150 worth of bitcoins and place those bitcoins  on a bitcoin gambling site.

I double my bankroll in a month. I withdraw $150 and keep the original $150 in the gambling site.

I want to convert that $150 in bitcoins (or use it to purchase something in bitcoins), but the price of bitcoins has dropped 66% since I did the exchange. Now my $150 in bitcoins (which was its worth a month ago) is only worth $50.

I don't know much about bitcoins, but if this is a possibility, I think I'll have to stick with USD for now. I like the security of bitcoins for gambling purposes, but if my winning could diminish in a short period because the price of bitcoins has fluctuated, I don't want to risk that at this point.

I'll have to do more research into it.
 

Jake007

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Re: Bitcoins
« Reply #4 on: May 18, 2017, 06:57:54 PM »
What if bitcoin price goes UP 10% ?  :o ;D :P :-* 8)
 

thomasleor

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Re: Bitcoins
« Reply #5 on: May 18, 2017, 07:14:42 PM »
If Trump gets impeached, the market takes a dive and the dollar most probably will be mimicking that swan dive. So sure. In such a financial H-bomb scenario, the precious metals Au, AG and Pt would go up like a bat out of hell, and Bitcoin most probably with them.

With the current grim market realities and a Negative Interest Rate Policy (NIRP), investors, like mega pension funds,  are very nervous. If Trump goes the market will correct itself, probably 5-10% downwards before the first brakes shuts it all down for a couple of hours.  According to Yellen´s latest squawk from her Dark Castle at 33 Liberty street NYC, the FED will not interfere

So to conclude; Watch the ongoing Deep State versus the WH and of course the ongoing US Congress hearings where Ex FBI Director Comey and & Co swear on an impressive stack of bibles, that they haven´t seen anything, nor heard or said anything (of value) and you ll know in what direction the wind blows.
« Last Edit: May 18, 2017, 07:27:03 PM by thomasleor »
 
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Billyhill64

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Re: Bitcoins
« Reply #6 on: May 18, 2017, 07:29:10 PM »
check out bitrobot its booming
 

Jake007

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Re: Bitcoins
« Reply #7 on: May 22, 2017, 04:13:58 PM »
Terminator! Bitcoin price has hit $2200. Its now up 30% since you commented last week. Without having any financial knowledge at all, you could protect your capital by using a simple EMA (exponential moving average) technical indicator as seen by the two colored lines in the attached chart (I would use 1 day charts). You hold bitcoin when the yellow line is above the blue line, and you switch to USD and hold USD when the yellow line falls below the blue line. I used https://cryptowat.ch/bitfinex/btcusd/1d to create the chart. With websites like TradingView.com you can set an alarm when these two lines cross each other.
 

Billyhill64

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Re: Bitcoins
« Reply #8 on: May 22, 2017, 06:44:59 PM »
you should go to bitrobot it gives 6% per day
 

Jake007

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Re: Bitcoins
« Reply #9 on: May 22, 2017, 07:36:03 PM »
Provide a link to the site. IMO any site claiming 6% a day is a scam. Just a quick search finds links like the one below giving it a 1/10 rating, marking it as a scam. I would stay clear of any site claiming they can make you money with bitcoin. Most of them are "exit" scams. They take your money, and then you will never see it again.

http://kipicommunity.org/bitrobot-me-scam-review/

« Last Edit: May 22, 2017, 07:39:05 PM by Jake007 »