Out of interest, is it easy to sell Bitcoins after you buy them? I had a good read up online and it seems like it can be complicated and a little risky... https://www.coindesk.com/information/sell-bitcoin/
Trading the stockmarket (NO Referrals)
- Thread starter mcast123
- Start date
Soldato
- Joined
- 13 Jul 2004
- Posts
- 20,356
- Location
- Stanley Hotel, Colorado
^^ Escrow helps.
Well there is a famous tale of the opposite. A fairly young man inherits his fathers house and sells it for bitcoin, wont accept cash. This is back a few years and I believe he does still pop back in to report on the thread and has never said he sold so that dude is up some. Did get to hear a lot of 'you idiot' at the time also but I believe it was surplus to his requirements. However this was in Canada which has also seen house prices rise a lot in some places but nothing rivals BTC
http://www.cbc.ca/newsblogs/yourcom...-accepting-bitcoins-in-exchange-for-home.html
https://www.independent.co.uk/news/...itcoin-moves-family-to-campsite-a7994751.html
I see this as the end game. Roughly speaking here because BTC is not leveraged, its nature is of a price squeeze with constricting supply over time by a regular schedule and with no further available sources. FIAT is uncontrolled except by politics not known for its integrity, we have excess liquidity not constriction.
BTC is perhaps converging with FIAT and becoming subject to leverage via various devices so its basic nature to constrict supply is altered which could also mean its coming to the tail end of its price squeeze. Targets I've been given for a top recently are 15-25k but that'd be a brief spike I think.
They always say dont be greedy so I swapped to some gold even if thats not a good trade now. If platinum remains below the gold price is that a red flag, it was 10x years back
Well there is a famous tale of the opposite. A fairly young man inherits his fathers house and sells it for bitcoin, wont accept cash. This is back a few years and I believe he does still pop back in to report on the thread and has never said he sold so that dude is up some. Did get to hear a lot of 'you idiot' at the time also but I believe it was surplus to his requirements. However this was in Canada which has also seen house prices rise a lot in some places but nothing rivals BTC
http://www.cbc.ca/newsblogs/yourcom...-accepting-bitcoins-in-exchange-for-home.html
https://www.independent.co.uk/news/...itcoin-moves-family-to-campsite-a7994751.html
I see this as the end game. Roughly speaking here because BTC is not leveraged, its nature is of a price squeeze with constricting supply over time by a regular schedule and with no further available sources. FIAT is uncontrolled except by politics not known for its integrity, we have excess liquidity not constriction.
BTC is perhaps converging with FIAT and becoming subject to leverage via various devices so its basic nature to constrict supply is altered which could also mean its coming to the tail end of its price squeeze. Targets I've been given for a top recently are 15-25k but that'd be a brief spike I think.
They always say dont be greedy so I swapped to some gold even if thats not a good trade now. If platinum remains below the gold price is that a red flag, it was 10x years back
Permabanned
- Joined
- 9 Aug 2009
- Posts
- 12,236
- Location
- UK
There's another thread for Bitcoin guys.
not sure... I suspect it is quite possible we'll see a price crash at some point but then again it could well rise for some time before then... I suspect some trend followers might have done OK trading/speculation in it
it isn't like you're going to get any dividends from investing it it nor are you going to get any interest payments like you'd get from a regular currency (unless someone sets up a bitcoin bank - perhaps they have already?) and unlike say gold there isn't any industrial use for it as a commodity rather than a store of value/currency
shouldn't be any different to buying... I mean the person you bought them from was selling them, you're just doing the opposite right - tis the same transaction. On an exchange you would just enter a sell order instead of a buy order... and decide whether to go to market and hit the current bid or whack it in the order book and hope someone hits you
there is a whole sub forum actually
but this thread is about trading/speculating and that is what is being discussed here re: bitcoin... it isn't like people are asking for advice on the best GPU for mining etc..
this thread moved past being purely about stocks some years ago when people started talking about FX, spread betting etc..
if we can discuss USD, EUR and XAU (gold) then why not BTC ?
Been rumours for months now that Petrofac are in a bad way. Came out today that it appears that they are now actively considering selling off their UK business to try and ease their debt problems.
Been following them for a long time. 23% up in my ISA and only 2% in my main trading account.
The concern was the SFO investigation in which they have already set aside a huge amount of cash for any fine (by cutting divi to about 6%). The real big worry was that they would stop winning business, but the regular RNS show they are still winning business. $800m announced on the 12th Dec. Recent trading update showed $5.1B to date this year
I'm tempted to take my normal trading account investment and put it into Crypto though!
Soldato
- Joined
- 13 Jul 2004
- Posts
- 20,356
- Location
- Stanley Hotel, Colorado
Crypto is for gambling money if we are talking reasonable risk assessment. My SIPP lets me 'invest' in crypto. I can point to some info on gambling firms who want crypto invested with them but holding the plain coin itself is like buying dollars to get a gain (vs sterling), with more risk. I consider the firm route less risky as it gives a yield but also Ive lost money that way as a firm can fail. I have written in $19880 as a boundary, in pencil because Im guessing using graphs 
Long term I said previously 15 to 25k was a target Ive read held by some long players
I added to CEY. PFC is probably risky but its a good risk and globally distributed in that risk is my take. Considering CNA still, its seems reasonable to weigh up when people are gloomy and negative on it. I believe they have long term contracts with fracking exports from USA which is a new thing, useful vs Russia
Long term I said previously 15 to 25k was a target Ive read held by some long playersI added to CEY. PFC is probably risky but its a good risk and globally distributed in that risk is my take. Considering CNA still, its seems reasonable to weigh up when people are gloomy and negative on it. I believe they have long term contracts with fracking exports from USA which is a new thing, useful vs Russia
it won't, at some point, it will crash as people go i'm rich enough and cash out, or people get scared, its just when.
personally, i think it has more legs than most, due to its deregulated nature, anyone around the world, no age restriction etc can jump in on the action.
If Bitcoin continues its current growth trend it'll encapsulate the entire planet's wealth within 6 years. I can't find the article claiming this now unfortunately.
Also, the energy requirements to sustainably continue with blockchains is growing exponentially.
if he's sensable that's mortgagee paid for and some.
What do you mean by 'sensible' - should he sell now?
not necessarily, but that 280k, that's a life-changing amount. that's at least 1 house with no mortgage. even after paying 20% CGT
i certainly would be thinking, if it starts heading down, at what point do i say enough is enough and sell, to make life-changing profits.
I'd probably sell now tbh.. as I'm not sure at what point you'd define starts to head down until perhaps it is too late... I guess for all we know it might double, triple etc.. but I'd likely not have held onto the coins for so long in the first place if I'd been following prices - I'd probably have cashed out when it hit 1000 so if I were lucky enough to have forgotten about them I'd just cash them in
well yes it would always be to late, but you could go I will gamble that any dip will rise again but go, even at 12k a coin i can change my life. so sell if it ever hits that. there is one downside, if it was free fall, then you might not find a buyer, but then 20 coins isn't a lot, so that's unlikely.
well yeah dips are defined retrospectively
the other issue is the exchanges, as they're not so regulated I do wonder if there is potential for some more of them to collapse/go out of business should there be a crash... so perhaps someone has some stop order set at some price a few percent below the current price in order to cash out should there be a fall I guess it is also worth considering that if there was a really big crash then even if they get their order executed will some exchanges fail/will they be able to collect their money anyway