Bitcoin Macroeconomics is up for the task for the crypto world. We don’t enter this world High Tech with all the knowledge and abilities, but we shouldn’t enter the crypto world naked and afraid. We should be aware of the pump and dump schemes, the sheisters and criminals in an unregulated marketplace, and be aware of the overall volatility of the marketplace as a whole.
Never invest more than you are willing to lose. With freedom comes responsibility. There will be no bailouts! Leave that to our gutless wonders.
I have tried a few exchanges, including Cryptsy, Mintpal, and a couple of others. I am intrigued with the trading aspect of cryptocurrency and want to learn more. I have sold commodities in my lifetime so trading is something I understand. The concept is buy low and sell high right? That easy. It’s fun when the trades go through, but it’s not very exciting when they do not go through and you are not burning and turning them, and it’s like going fishing when the fish are not biting. But like a big run of fish, things move fast. Be ready. Be geared up. Learn from your mistakes, and you will net the fish after securely getting them on the hook.
I have dabbled with some fractionals, moving in some Doges or Bitcoin. That is all I needed to really get started was having a wallet QT, namely Bitcoin, but other exchanges allow direct deposit of other coins, not just Bitcoin. I have been “Cryptsied” in that once you send money in an account and do a withdraw, you better withdraw it all, or the remaining satoshis will remain, and you have to reinvest more to get it out (beware of minimum withdrawals), but it becomes a lost leader, and it’s better to cut your loss over the chump change, or dust. I left some behind at Crypsty. And that was a learning curve.
I tried out Mintpal, was easy enough. Things were kind of slow and I got stuck behind some trades around the 4th of July and it was pretty boring thereafter as I was stuck in positions I refused to budge on, namely on BlackCoin. Something was odd with the crypto trading, at least over at Mintpal.
I heard about Bittrex and decided to learn this one. It is a brief learning curve, but the concepts are the same as far as rolling in coinage, and then placing buys. I recommend buying low and selling high. No really, I recommend setting some sort of goals to achieve the margins you desire, and be ready with buy and sell orders. That is the key to booking your profits. If you do not have the sell order, you won’t reap the reward and things move fast, including down, so book them. Now I will explain how I set the sell order, and the market took off!
I screwed up, and it’s better to learn this early on and learn without huge amounts of coins. I admit I was screwing around with shit coins, and was double checking the order but was not paying close enough attention to the actual “bid” and my mistake was that I looked at a chart and I believe it showed 7 characters, or was it my bad eyesight (again we are dealing with 8 digits in the 0.00000000 satoshi / bitcoin world)? Anyways, I placed the order what I thought was for .00000008 but I actually put in .00000080! Big difference! The order went through immediately before I could cancel it! But luckily it went through at .00000055 (you can check a setting that will buy better than your offer if you set it)! But I obviously didn’t buy as low as .00000008! Needless to say I set the sell order for .00000101 and someone came along and bought it and got me out of that position, lesson learned! So I go back for more! And price drops! Hey shit coins, no guts no glory! Surely lessons to be learned with shit coins. But that’s not my point.
The dynamics of cryptocurrency trading are at play and that is what I want to discuss on topic. So I start out with some Dogecoin and Bitcoin in a couple of Wallet QT’s and roll them over into Bittrex. I see what I start off with, let’s call that X amount. After a series of trades and moving them about in the what 499 alt coin market, this and that, booking this, taking my 4% lean margins to upwards of 25% or more gains on some fractional moves (again there are a variety of coins to play in this casino) depending on where you set your sell orders, but I can assure you I have taken lofty profits on fractional amounts only to sell it, and watch the coin skyrocket. I’ve seen coins move 80% up in a day. They are there, but what goes up must come down, and that’s the thrill of trading.
But at the end of the day you can see what dynamics are at play. Where I started with X Bitcoin I now have doubled where I started from. So Bitcoin drops in price, I play the market in BlackCoin or Dark (the day I wanted in on Doge after a series of trades and taking profits at 45 satoshis…. I wanted in at 59, the internet was down and I missed Dogecoin surpassing 100….Comcast sucks) or some shit coins here and there for fun, hell throw in a ConspiracyCoin or two….or 10,0000, move it back to Bitcoin, on into DRK….etc…. at the end of the day the DRKs and Blacks go up, Bitcoin drops to $376 per Bitcoin, and somehow I end up with twice the amount of Bitcoin than I started with. So the dynamic and eye opener was the ability to transact at the end and simply buy more Bitcoin now that prices are up after taking a series of profits in other coins. It’s kind of like a video game and it’s fun.
I wouldn’t recommend keeping all your coins in an exchange because of hacking, but I have had the coins in for sometime, in fact, I’m scrounging up more coins from faucets and some gambling profits so I can move more into Bittrex (www.bittrex.com). Know why? I want in on as much DRK or DarkCoin because that is the coin that is going to pop. But that’s not to say that my strategy isn’t to flip it on swings of 10-12%, but comes a time when a man has to start socking some away for the long run, because DarkCoin is going to pop and those that weren’t holding them are going to wish they were, like the early Bitcoiners. You will see bold moves in the next 12 months on DarkCoin. I’ll predict a 250% move at least! I’m bold on DRK.
I’ll show you how to get free cryptocurrency coming in as often as you like, and I would encourage you to try to play the market, gear up, and learn the basics and dynamics. It’s not that hard, if I can do it, anybody can do it. Say you don’t know anything about cryptocurrency or make excuses that you “can’t”. Well somebody figured out that they could triple their DogeCoin in a short time, as it was right over 100 recently and 91 last night. But you say DogeCoin isn’t worth anything…. well it is if you have enough invested. Tripling your position is tripling and I can assure you that huge volumes and trades are moving through the exchanges as you can see the orders. I’d just like to say that Rome wasn’t built in a day.
My silver positions have been hammered because of naked short selling and manipulation in the precious metals market, compliments of the Federal Reserve and those that do not want a safe haven, but rather they want dependence, deficit, and debt based economies, that of sovereign debt and debt and taxation are slavery. They will continue down the death spiral known as Keynsian Economics, which will never work.
While Keynsian Economics fails and indebts society, there is a new emerging market and it’s alive and well on the Cryptocurrency Exchanges. I look forward to rolling over into Bryce Weiner’s AltMarket (www.altmarket.com) brought to you buy Blocktech, I do believe. Should be some exciting coins and concepts coming out of that camp, including asset backed coins. Apparently Mr. Bryce Weiner has filled out paperwork with the SEC to have these coins asset backed. So stay tuned, the market keeps moving. Who knows, maybe I will venture on to my next learning curve of arbitrage (buying from one exchange and moving into another based on differing prices of any given coin and booking it). Hell, maybe the next lesson will be software that sets up a 30 way arbitrage amongst exchanges. That’s a stretch, I’m not that technical, yet. But I am learning. And so should you. Now is the time to play around with it and acquire coins. Like silver, if you are the only one on your block collecting, you will be glad you did some day. It’s kind of like me and my baseball card collection! Best investment I ever made! And I did it as a kid! But I’d put money on DarkCoin now!
But do consider the dynamics of cryptocurrency trading and realize if you play your cards right on these mood swings of the market, that you can walk away with more coins at the end of the day than you started, and that means via a series of trades. And remember to cover your trading fees (commissions in and out)! All the free faucets….those are great for covering these fees! Teach your kids how to scrounge em up! For some, it may be the only college savings plan you may have for now, so do it, if you are into that sort of thing.
If you don’t want to lose your own money but want to play around, I suggest acquiring free coins via the faucets (I’ll provide a link below) or simply buying in. Buy $20 or $100 worth (or more if you are the next “whale”) via Prypto prepaid cards, which can be bought at DogeCoinShop out of Las Vegas NV, who I have bought direct from before (Dogecoin).
Parents, would be smart to set up a college savings fund via the cryptocurrencies. $50 those that invest a small amount in DRK will have an entire college degree paid for in time (if you play into the rising costs of college because everybody’s doing it) versus those that fall for Keynsian scams and savings accounts. So why not set up the Wallet QT, acquire some free chump change via the faucets, or better yet, skip some fast food or a few Friday Night Pizza Nights and invest that into cryptocurrency.
I challenge the world to eat like a college kid for a few weeks, take the savings, and invest it in cryptocurrency for the $50 it will be. If you play the dynamics right, it will become $100. If you invest in DRK, you could be the next cryptocurrency millionaire. Besides, this is better than the SNAP challenge. Bitcoin Macroeconomics guarantees this.
Or perhaps you just want to have fun, and you can do that with Dogecoin too! But if you don’t watch out, your kids may acquire more Dogecoin than you after they set up a 30 way arbitrage and may just become the next Dogecoin Billionaire.
Stranger things have happened.