Cryptocurrency

[FrontEnder]

Whenever I google about buying bitcoins, lots of articles appear. When I google selling or using, very few show up.

What am I missing?

Buying bitcoins: About 513,000 results (0.63 seconds)
Selling bitcoins: About 486,000 results (0.78 seconds)

One of the first articles found when googling "selling bitcoins", from a popular exchange:

https://support.coinbase.com/customer/en/portal/articles/2488658-how-do-i-sell-or-cash-out-bitcoin-

 

[psychocandy]

My experiences - 3 months.

Bought about £1000 worth of various - bitcoin, eth, ripple, sia, monero, verge, digibyte, reddcoin.
Also stuck £10 of my pension into a but coin tracker.

Lost a bit on the currency for a while but its recovering a bit now. Still about £100 down.

Pension though - I've made £3000 profit so far.

 

[TheGreenBastard]

Pension though - I've made £3000 profit so far.

No, unrealised gain.

 

[FrontEnder]

If I was using my pension, I'd probably take out the profit, leaving whatever you were origininaly willing to risk. Then rinse and repeat.

I've been playing with day trading as I don't have much to put in to be worth buying and holding. Started with about £160, small profit and a few losses on some trades, so about even. Until yesterday when I made a huge gain on ripple, leaving me about £30 up overall. So up about 20% up after 1 week. Would be great to keep that up each week.

 

[Jog On]

If I was using my pension, I'd probably take out the profit, leaving whatever you were origininaly willing to risk. Then rinse and repeat.

I've been playing with day trading as I don't have much to put in to be worth buying and holding. Started with about £160, small profit and a few losses on some trades, so about even. Until yesterday when I made a huge gain on ripple, leaving me about £30 up overall. So up about 20% up after 1 week. Would be great to keep that up each week.

What's your risk management strategy? How much % of your account are you risking on each trade?

 

[FrontEnder]

What's your risk management strategy? How much % of your account are you risking on each trade?

I'm just messing around really as it's all new to me. I'm not dedicating a huge amount of time on it.

I tend to put 4 or 5 trades on per day of between 10 to 25% of my total. If I'm not able to monitor the market I'll put a couple of stop limit orders for something like a 10-20% loss and a big gain. Or just keep an eye on it for a few hours and cut my losses if it goes down and scale out my profits if it's going up.

 

[scooterscot]

Would not bother with day trading, nearly always loose. However that said I'll make weekly decisions about what I'm holding. Read about up and coming events or news.

If you're looking for ideas of what to invest in try: https://www.tradingview.com/symbols/XLMBTC/ and check out the ideas section on the right. I choose to follow a few traders as they spend all day predicting trends. They've made me a lot of money. In one case €6k in the last 24 hours to be exact.

 

[pjclarke]

I said I'd report on my experience with Genesis mining. Well, I haven't had my first payout yet as there's a 30 day waiting period on credit card orders, however the coins are appearing in my virtual account.

I made an initial purchase of 0.7 TH/s open-ended for USD105, then when that appeared to be working a further 7.5 TH/s at USD 1050. Total investment around 887 GBP

Genesis enables you to allocate your hashpower to a variety of different cryptos and for no good reason I split mine 50/50 Bitcoin and Litecoin.

How am I doing? There's a few days lag in reporting, however as of end of play on Tuesday I had mined
0.84537235 Litecoin, and 0.01264383 Bitcoin, over 22 days. A back of the envelope calculation estimates these to be worth just under 80 GBP.

So my 'investment' is making around £3.60/day, an APR of around 140%. Payback in around 240 days.

Of course, this rate will drop over time as difficulties increase, and these coins are sitting in the Genesis account, not my wallet yet - there are some slightly worrying posts on their website and Facebook page about 'payout difficulties' - however so far I'm tentatively calling the experiment a success. The more hashpower you buy, the cheaper it gets, so I may scale up....

Probably easier to just buy some on bittrex, tho

 

[northernladuk]

How much extra power are you pulling while mining instead of being in sleep mode?

 

[pjclarke]

I should maybe have explained: you buy hashpower on Genesis's rigs, which are somewhere with cheap electricity and a cold climate ...

https://www.genesis-mining.com/our-offer