Trading Crypto currency

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ricecakes
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Post by ricecakes » Wed May 31, 2017 6:48 am

ETH pushing its all time high at $226 :thumbsup:
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violet
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Post by violet » Wed May 31, 2017 7:59 am

I am ignorant on such matters. Why would a person like me have bitcoins etc? What's the point, other than treating it like shares and watching the value go up and down?
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YaTingPom
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Post by YaTingPom » Wed May 31, 2017 10:39 am

violet wrote:I am ignorant on such matters. Why would a person like me have bitcoins etc? What's the point, other than treating it like shares and watching the value go up and down?
There are some retailers (not in SE Asia) who accept Bitcoins but they're mostly online. If you want to buy some drugs, a gun or a small boy you can go to the "Darknet" and pay by Bitcoins.

You can also bore your friends and wallow in your intelligence whilst mocking them for their lack of knowledge.
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ផោមក្លិនស្អុយ
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Post by ផោមក្លិនស្អុយ » Wed May 31, 2017 10:45 am

YaTingPom wrote:
violet wrote:I am ignorant on such matters. Why would a person like me have bitcoins etc? What's the point, other than treating it like shares and watching the value go up and down?
You can also bore your friends and wallow in your intelligence whilst mocking them for their lack of knowledge.
I think that is really the main benefit.
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ricecakes
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Post by ricecakes » Wed May 31, 2017 11:09 am

violet wrote:I am ignorant
Just stop RIGHT THERE . :!:
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ricecakes
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Post by ricecakes » Sat Jun 10, 2017 8:36 am

ETH @ $280 and climbing :thumbsup: :thumbsup:
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kiiniaew
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Post by kiiniaew » Sat Jun 10, 2017 6:27 pm

Yeah, I recently got into Ether as well because I want to diversify from BTC to hedge potential risk of August 1 (BIP 148 UASF - The Bitcoin FORK). This might help it climb higher or be an alternative to BTC in case something goes very wrong. Also swapped some BTC for fiat and waiting to reinvest once the impact of Aug 1 is clear.

What you can do with Bitcoin at the moment:
- Buy legal stuff online. For example: physical gold, jewelry, gift cards (use at Amazon, Walmart, Target, etc.), airline tickets, hotel bookings, electronics, and much more.
- Buy legal stuff offline: various shops, restaurants, bars. (A problem is the BTC confirmation time increasing, other coins might succeed here).
- Keep as investment / Trade it e.g. Forex like or stock like
- Transfer money internationally with relative low fees
- Exchange to fiat currency: wire to your bank account, cash from special ATM's, in-person trading for cash.
- Pay your escort agency/hooker
- Online / Offline Gambling
- Buy illegal stuff online

Within Cambodia you would not find much offline usage for any crypto currency. Try Japan, South Korea and maybe Singapore or Hong Kong.
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ricecakes
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Post by ricecakes » Sun Jun 11, 2017 7:23 am

ETH now $337

Sent from my SM-G930F using Tapatalk
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RobW
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Post by RobW » Sun Jun 11, 2017 8:41 am

ricecakes wrote:ETH now $337

Sent from my SM-G930F using Tapatalk
Good work ricey. What's driving this, do you reckon?

Also, so I can get excited for you, tell me you bought a pile of them and not just one or two.
Last edited by RobW on Sun Jun 11, 2017 9:23 am, edited 1 time in total.
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violet
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Post by violet » Sun Jun 11, 2017 8:59 am

Maybe we should all be buying

http://www.coindesk.com/3000-gains-2017 ... er-prices/
Last edited by violet on Sun Jun 11, 2017 9:06 am, edited 1 time in total.
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violet
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Post by violet » Sun Jun 11, 2017 9:03 am

I have no understanding of this at all. How can a currency also be a platform for apps?

https://futurism.com/taken-bitcoins-riv ... attention/



Cool infographic on bitcoin's history here
https://futurism.com/images/the-entire- ... fographic/
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spitthedog
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Post by spitthedog » Sun Jun 11, 2017 12:46 pm

Off topic but related - Interesting day on Friday for all the market leader tech stocks no?
The likes of Netflix, Amazon, FB, and Apple were all down 3%+, possibly triggered by a Goldman Sachs report saying tech is overdone.

Meanwhile Financial and Energy stocks have been doing well over the last few days. Possible sector rotation out of Tech stocks into these 2 sectors if the Fed go's ahead and raises rates this month?

I think Financials and Energy always tend to lead near market tops around when rates go up?
That was what happened leading up to the Dotcom bubble and to a certain extent the 2008 financial crisis market tops.

http://stockcharts.com/h-sc/ui?s=%24COM ... 7302174813

http://stockcharts.com/h-sc/ui?s=%24COM ... 1419663726

Oh Christ, he's going on about bubbles and interest rates again... :help:
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Marmite
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Post by Marmite » Sun Jun 11, 2017 12:52 pm

I don't understand ricecake's glee about the rising price because he has said he is trading them, not investing in them. There is a difference. If you are trading then you are buying and selling all the tin to take profit from fluctuating markets. A continually rising price is bad for trading.

It sounds to me like he is buying and holding - a dangerous strategy. It's getting into tulipmania territory and a lot of people who pay no attention to history are going to get burned very soon.
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RobW
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Post by RobW » Sun Jun 11, 2017 1:06 pm

^ A lot of people got very rich from tulips too, you pessimist.
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