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Newbie questions crypto thread
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Steve McQueen Offline
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Post: #201
RE: Newbie questions crypto thread
Cheers l look fwd to it

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(This post was last modified: 09-19-2018 01:38 PM by Steve McQueen.)
09-19-2018 01:37 PM
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JoSuado Offline
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Post: #202
RE: Newbie questions crypto thread
Guys, now that crypto markets hit a new low I decided to enter it.

Do you know any good Telegram group that gives good signals for free?
12-07-2018 06:36 PM
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SamuelBRoberts Offline
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Post: #203
RE: Newbie questions crypto thread
No. I've never found a telegram signals group that wasn't a useless mess.

Honestly, never found a signals group that wasn't a useless mess.

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12-07-2018 06:37 PM
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JoSuado Offline
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Post: #204
RE: Newbie questions crypto thread
^^Thanks.
12-07-2018 08:01 PM
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JayJuanGee Offline
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Post: #205
RE: Newbie questions crypto thread
(12-07-2018 06:36 PM)JoSuado Wrote:  Guys, now that crypto markets hit a new low I decided to enter it.

Do you know any good Telegram group that gives good signals for free?

Which coins are you entering, and why do you need a group in order to enter?

Do you have a plan like how much you are investing and timeline that you are expecting a return? do you have an exit plan in case price does not go how you expect?
12-07-2018 08:24 PM
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JoSuado Offline
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Post: #206
RE: Newbie questions crypto thread
(12-07-2018 08:24 PM)JayJuanGee Wrote:  
(12-07-2018 06:36 PM)JoSuado Wrote:  Guys, now that crypto markets hit a new low I decided to enter it.

Do you know any good Telegram group that gives good signals for free?

Which coins are you entering, and why do you need a group in order to enter?

Do you have a plan like how much you are investing and timeline that you are expecting a return? do you have an exit plan in case price does not go how you expect?

I was planing to buy 2 or 3 coins now, hold and sell them when the market peaks again (end-2019 or mid-2020, according to graphical analysis).

I was not planning to do intraday trades. However, I started seeing some guys making money following signals, then I got interested in it. If 2019 turns out to be a good year for crypto, intraday may give exponential gains.
But outsourcing may be a good idea. Do you know a good crypto fund? In Brazil they are only found in the black market.
12-08-2018 09:52 AM
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JayJuanGee Offline
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Post: #207
RE: Newbie questions crypto thread
(12-08-2018 09:52 AM)JoSuado Wrote:  
(12-07-2018 08:24 PM)JayJuanGee Wrote:  
(12-07-2018 06:36 PM)JoSuado Wrote:  Guys, now that crypto markets hit a new low I decided to enter it.

Do you know any good Telegram group that gives good signals for free?

Which coins are you entering, and why do you need a group in order to enter?

Do you have a plan like how much you are investing and timeline that you are expecting a return? do you have an exit plan in case price does not go how you expect?

I was planing to buy 2 or 3 coins now, hold and sell them when the market peaks again (end-2019 or mid-2020, according to graphical analysis).

I was not really asking you about how many coins that you were buying, but I take it that you are referring to bitcoin?

My personal strategy has been to invest over time in an incremental way rather than lump sum, but I understand your thinking that since the price went down, you are kind of betting that in a short-timeline way your odds for upside are actually pretty good.

Regarding your timeline, it may be better to have a timeline in which you might plan to hold until the end of 2020 or early 2021, based on the next BTC halvening taking place in about May 2020...

Of course, there are no guarantees about price movement, so I am just referring to odds that a decent up trend could take place by end of 2020 or early 2021... but we really might not know if or how trend is playing out until it happens.

I personally don't rely on shorter term, so I am kind of a long term, such as 10 year accumulator rather than thinking shorter term cashing out that you are considering, which may work out well for you.

(12-08-2018 09:52 AM)JoSuado Wrote:  I was not planning to do intraday trades. However, I started seeing some guys making money following signals, then I got interested in it.

Actually it probably is not a good idea to attempt trading until you feel out the market for a while, and if you do trade, then don't get greedy and play around with really small amounts until you get some feelings for it.

(12-08-2018 09:52 AM)JoSuado Wrote:  If 2019 turns out to be a good year for crypto, intraday may give exponential gains.

One of the things that are likely the most guaranteed about bitcoin is that it is going to continue to be volatile. So traders love volatility.

You don't necessarily need to think about trading on a daily basis and you could consider longer time periods too.

I personally don't consider myself a trader, even though I do sell really small amounts of my BTC holdings on the way up and use that money to buy back if the price goes down, but I work with really small amounts, so I only sell about 1% for every 10% the price goes up... something like that, and I tweak it over time, and for me it is just used as a way to attempt to accumulate more BTC.. so there are some devil in the details regarding my increment amounts, the gap between my buys and sells which include tweaking along the way, too.

(12-08-2018 09:52 AM)JoSuado Wrote:  But outsourcing may be a good idea. Do you know a good crypto fund? In Brazil they are only found in the black market.

I don't believe in giving my money to anyone else to manage. If you don't have time then you probably should not be trading. If you give your money to someone else to manage, you are likely to lose it.. my thinking.

I also don't know brazil options, but I suppose that once you get bitcoin, then you can start to trade it on exchanges that are not in brazil through the internet.. but I also don't know how much monitoring of your internet there is and I would not want to advocate that you engage in any behavior that would be illegal or that you get in trouble, so a bit problematic to discuss your exact plans to get BTC, if there are some legality questions about it (both against forum rules but also might not be good if your internet messages can be intercepted or monitored)... Even though you call it "black market," there still could be ways to do some of the things that you want that are not really considered illegal, but again, that is for you to figure out those ways. I would think.
12-08-2018 12:47 PM
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young_money Offline
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Post: #208
RE: Newbie questions crypto thread
Is it worth it to put your USD into ETH just to transfer from GDAX to Binance if you're going to convert it back to BTC for buying alts? or not sure if I should just buy the alts with ETH?
12-27-2018 09:26 PM
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SamuelBRoberts Offline
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Post: #209
RE: Newbie questions crypto thread
Binance is large enough that the spread on ETH pairings versus BTC pairings is pretty minimal.

Is BTC that much slower these days, though? There can't be that much activity on the network.

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12-27-2018 09:28 PM
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young_money Offline
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Post: #210
RE: Newbie questions crypto thread
Seems easiest to go USD - BTC to Binance to Alts then.
12-27-2018 09:46 PM
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SamuelBRoberts Offline
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Post: #211
RE: Newbie questions crypto thread
I haven't looked at this in a while, but for USD to Alt here's the fee you're looking at.


BTC: GDAX BTC Purchase Exchange Fee + GDAX BTC Withdrawl Fee
ETH: GDAX ETH Purchase Exchange Fee + GDAX ETH Withdrawl Fee + (Whatever the market spread is between ETH or BTC for the alt you're going to buy)
You can also LTC if you feel the need to go fast, in which case it's
GDAX LTC Purchase Exchange Fee + GDAX LTC Withdrawl Fee + Binance LTC to BTC Spread + Exchange Fee.

Look up what these numbers are and you'll see what's cheapest.

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(This post was last modified: 12-27-2018 09:58 PM by SamuelBRoberts.)
12-27-2018 09:58 PM
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randomA Offline
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Post: #212
RE: Newbie questions crypto thread
Another way is, if you have access to an exchange that can purchase USDT with fiat, just buy USDT and then move it to Binance/Bittrex for btc/eth/alts.
12-28-2018 01:47 AM
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Magelaus Offline
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Post: #213
RE: Newbie questions crypto thread
Maybe you should use Bitcoin only when you find out more about it?
Alas, I know about Bitcoin only from other sites (for example, here https://bitcoinbestbuy.com/pay-online-stores/) so I cannot say that I am an expert in cryptocurrency.
01-10-2019 08:21 AM
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redonion Offline
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Post: #214
RE: Newbie questions crypto thread
I was hoping I could get some advice on crypto taxes in the USA. I'm filing my taxes now but I'm pretty confused.

My situation: I got some BTC back in 2016 as a cashout from a gambling website, then did some DACA buying through the first half of 2017, never exchanging my BTC for anything else. In 2018 I started doing arb trading, and have made over 1,000,000 trades. Due to the bear market, I ended up losing money overall during this trading period. Also, during 2018 I made about 10 cashouts on Gemini. I transferred BTC to gemini, sold for USD, and sent it to my bank. My plan has always been to just pay taxes on my BTC->USD Gemini transactions. I know it's not perfect but I was trading on a lot of shady exchanges that don't offer transaction histories going back that far, nor are they IRS-compliant.

When filling out my taxes, I realize that they want a purchase date and sell date for all of my transactions. Should my purchase date simply be one of the days that I bought BTC using DACA? If, for example, I sold 1 BTC on gemini, but it took me 10 DACA purchases at 0.1 BTC each time, how could I list a single purchase date?

Is there an easy way to do all this?
02-05-2019 12:03 PM
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