Crypto Currencies ~ " Duck Tales Spin From The Crypt"

The answer is you shouldn't care about when it hits $5 USD. If you buy into IOTA using ETH as in the IOTA/ETH pair you mentioned above you should just be paying attention to how IOTA is doing in comparison to ETH. Take your profits back into ETH when the time is right and then start looking at the ETH/USD pair to determine when to take profits back to USD. If the ETH/USD pair isnt doing what you want/need it to then instead of cashing out back to USD you should consider holding the ETH or reinvesting the ETH into another XXX/ETH pair.

 

Do a quick calculation at the current prices and put that in. Take $5 and divide by whatever the ETH price is. (i.e. $5 / $430 = .01162790)

 

Correct.

 

Dat LTC/ETH comeback!

 

This is like some "Inception" level investing. Makes sense. Basically you're going USD->ETH then going one level deeper from ETH->IOTA.

So how do I figure out when I want to pull back up to the first level? Just buy low/sell high, then worry about the exchange? Is it really that simple and I'm just over thinking it?

I'm not trying to jump the gun, or get all wreckless and make a million in a week. I'm just trying to learn for when the time comes.

Well that makes sense. Too much information and I'm starting to forget simple math. Lol.

 

I know! My coworker is liking the fact he bought 10 LTC yesterday at 98 a coin.

 

You got it man. Inception is a great analogy for it. Just pay attention to one level at a time. Buy low, sell high based on the currency pair of that level. Don’t concern yourself with USD unless USD is involved in the specific pair you’re looking at.

 

Yeah I was able to get in while it was at $80. Looking pretty good atm.

 

You did a good job at explaining it. I've watched that movie so many times, one of my all time favorites, and it totally made sense when you put it like that.

Obviously we're all in this to make money, so as a noob, my biggest frustration so far is sitting there going, "How do I find out how much this is worth?" with my example of worth being USD. It's a lot to take in. I'm also still learning all the sites, terminology, procedures, etc. I'm getting it, slowly but surely. My goal is to retire by 50, so I've got 16 years. I should probably be playing it safe (which I am in other ways), but if I can accelerate the process with some expendable (which some would say nobody should have expendable) income, I'm totally down.

Yup... and I'm still waiting for Coinbase to process my purchase. I'm still trying to figure out how it works, but I'm going to assume that just because I hit the buy button yesterday when it was a little under $100, that whenever it goes through it's going to be sold to me at market price. Sooo if it works like that, as of now, I'll be missing out on roughly $45-$50 profit.

 

If you did it on Coinbase and did it through a bank account, the price you purchased it for is locked in, so if you bought it for $100 yesterday... and next week it is $150... you are already $50 ahead.

 

Have no fear. Your price is locked in at time of purchase on Coinbase so whenever the transaction gets finalized you should have your ~$100 price.

 

Suddenly I'm ok with the small fee that Coinbase charges for purchase.

I'm assuming the same true through GDAX, since Coinbase owns them?

 

By my very rough calculations, and even though we're not focusing on USD and all, I've made about $90 stumbling through this mess over the last 2 days. Soooo... yeah. This could add up once I get halfway mediocre at it.

 

same here, I am at a 4% ROI in 2 days lol

 

Only 4? Shit, I invested in BTC Monday night and am 40% up

 

Umm... I double checked my math this time, and I'm pretty decent at math unlike 90% of my friends, but I still don't believe it.

I'm at 22.5% as long as I'm not crazy.

 

I bought in at 11k and it's currently hovering just under 16. (I also bought in at a number divisible by 100 so pretty easy to do my own math lol)

 

yep! Fees hurt me since I am not putting in a crap ton of money

Nice to come back from lunch and seeing ETH at $470

 

@Guerrilla

https://onchainfx.com/

Can you add this to the market watch portion? I've been using it more than coinmarketcap recently as it has more options, seeing the ATH and days since ATH is convenient so you can see where that coin has been previously.

Glad to see ETH making its comeback!

 

A few years ago I saw a restaurant that takes payment in Bitcoin. I bought $10 in Coinbase just so I could pay in Bitcoin. I ate at the restaurant, but somehow got logged out of Coinbase, and I was too hung over to remember or reset my password, so I just paid in cash and forgot about it.
Yesterday, I logged into Coinbase, and that $10 is now worth $711.03.
Moral of the story: hangovers are good for the economy.