Crypto-currency

[QuarterMillionMan]

Ha-ha, you can say that again Corn. By the time Dec 16 comes around I could be at the break even point or worse (lol).

[corn18]

Ha-ha, you can say that again Corn. By the time Dec 16 comes around I could be at the break even point or worse (lol).

Then again, it might be up 100%! I hope it is. I would love for an SA member to profit from the frenzy with a reasonable gamble as you have done. I'm rootin' for ya!

[QuarterMillionMan]

Today I got my possession of Ethereum and Lite Coin a day early so I ended up selling my Ethereum and Lite Coin for a $700 profit combined. I got lucky and the momentum was going slightly higher today than yesterday when it was on a downwards momentum. I'm still keeping my Bitcoin holding though.


To recap this was what I bought on 12/11/17;
$300 in Bitcoin
$1000 in Ethereum
$1000 in Lite Coin



On 12/15/17 I sold;
$1350 in Ethereum
$1350 in Lite Coin
I'm still holding $315 in Bitcoin


One other minor thing that I came across though. When selling I could not find a "sell all." I had to either enter a dollar amount or a specific amount of coins to sell (ie, 4.456040829049 of Lite coin but with the price constantly changing it's impossible to sell all). So as a result, I still have about $28 in Ethereum and $11 in Lite Coin in my account. I wanted to wipe out those totals so that I won't have to pay another 1.5% bank account processing fee in the future. I guess Coinbase does that to keep me in the game still.

[QuarterMillionMan]

My email confirmations on the sale says "estimated payout on Dec 22, 2017." It does take a while for the funds to get deposited back into my bank account but fortunately I don't need money but it does take time.


With the $700 profit, I'll probably buy another $400 in bitcoin. So with my original purchase of $300 in bitcoin and another $400 in bitcoin for a total of $700 in bitcoin it'll be like I got the bitcoins for free (except for having to pay the taxes and fees). Speaking of free when I signed up for Coinbase they deposit $10 in free bitcoin into my account which I'm guessing they do for all new sign ups, either that or it was a mistake.

[corn18]

My email confirmations on the sale says "estimated payout on Dec 22, 2017." It does take a while for the funds to get deposited back into my bank account but fortunately I don't need money but it does take time.


With the $700 profit, I'll probably buy another $400 in bitcoin. So with my original purchase of $300 in bitcoin and another $400 in bitcoin for a total of $700 in bitcoin it'll be like I got the bitcoins for free (except for having to pay the taxes and fees). Speaking of free when I signed up for Coinbase they deposit $10 in free bitcoin into my account which I'm guessing they do for all new sign ups, either that or it was a mistake.

You are officially the most experienced cryptocurrency trader I know. Congrats on the profit.

[JBinKC]

Quarter that is how you effectively trade anything first attempt to get the asset for free. Next (you have time) the decision making comes down to determining if the asset is cyclical or secular. You eventually sell the cyclical ones and keep the secular ones and hopefully you make the right call.

I got onboard ethereum early this year after major research knowing cryptos was finally for real after the Indian currency confiscation in late 2016 coupled with a major restriction in gold restricting cash flow in the black market.

[corn18]

My email confirmations on the sale says "estimated payout on Dec 22, 2017." It does take a while for the funds to get deposited back into my bank account but fortunately I don't need money but it does take time.


With the $700 profit, I'll probably buy another $400 in bitcoin. So with my original purchase of $300 in bitcoin and another $400 in bitcoin for a total of $700 in bitcoin it'll be like I got the bitcoins for free (except for having to pay the taxes and fees). Speaking of free when I signed up for Coinbase they deposit $10 in free bitcoin into my account which I'm guessing they do for all new sign ups, either that or it was a mistake.

QMM, hope you got out of BTC before the drop to $12k. 38% drop in 4 days. Yikes! If it drops back down to $1,000, I might buy some.

[tripods68]

I bought Litecoin this morning for $200.00 just to own something for 2018 while it’s down I may start adding weekly deposit of $25 to get to $300.

[QuarterMillionMan]

QMM, hope you got out of BTC before the drop to $12k. 38% drop in 4 days. Yikes! If it drops back down to $1,000, I might buy some.

Corn I am keeping my Bitcoin. I had bought about $1000 worth ($300, $400, $300) when the prices ranged any where from $16,000 to $19,000, so I’m losing money but I’m not sure how much I’ve lost and I’m not sweating it but the Bitcoins will be available in my acct on 12/27/17. Id guess I lost $300 out of $1000. Anyway today I bought $200 more of Bitcoin when it was at $13,200, as of right now it’s at $14,305 (I wish I had bought more). This last purchase will become available in my acct on 12/30/17. I’ll keep dollar cost average buying over time.

[Gailete]

I keep seeing teaser internet 'news' post about Bitcoin be bankrupt. Is that just someone needing to fill news stories as they had hit their Harry & Meghan quota? I've been too busy to actually look at what was being said.

[QuarterMillionMan]

Today my most recent purchase of $200 worth of Bitcoin became available. So to recap I bought $300 + $400 + $300 + $200 = $1200 worth of Bitcoin but my actual amount shows as $893 in Bitcoin due to the drop in price. Oh well win some and lose some. But I'm bullish on Bitcoin so I will continue to hold on to it.




BTW, I researched Bitcoin IRA and for 2018 I was intending to open an account but they require a minimum $20,000 account opening which is too scary for me. I wanted to open an account with $6500 which is the IRS max on 50+ year olds (me 52 yr old) Roth IRA but it is too speculative and risky. If Bitcoin goes bust that would be a painful loss though not devastating.

[dariojohnee]

Invest on your on risk

[bjsint]

Golden rule with any investment but especially with cryptocurrency..

Only invest what you're willing to lose!