Crypto Currencies ~ " Duck Tales Spin From The Crypt"

There seems to be confusion about conversions between currency types, think of it like the mainstream fiat money. I guess I'll try to make this simple:

If you convert your USD to Yen, then convert Yen to CAD, then CAD back to USD, every tick of a change between each of those trickles down to your overall gain and loss. If the Japanese economy has a hit while you're holding your money in Yen, even if only for a few minutes, then you will lose when you convert to CAD. Now your CAD to original USD conversion is worth less than you first started with. It can also go the other way. That's the name of the game.

I would imagine making an excel sheet with conversion rates would help a lot, you would just have to update the current exchange rate every time you take a look at it.

 

Nice! I can believe that. A little more realistic than the guy who claims he has $800,000 of bitcoin but "doesn't know how to use this useless currency" and called everyone in here "a bunch of idiots".

 

100% believable.

 

Yea dude! I believe ya. This other guy was out to lunch.

It's back around page 15 or 20 I think, but someone came in here saying his company got hacked in 2011, he went to a bitcoin "atm" and got $600 worth and paid the ransom, but he had some left over so he got to keep the extras and they're worth $800,000 now. But he insisted it's not real money and we're all idiots for trying to help him learn how to make use of it so he left the thread.

The math didn't add up at all when you look at prices from that time.

 

https://www.tacomaworld.com/threads/crypto-currencies.514881/page-25#post-16600785

 

Last two days have been the wildest/ best trades I've ever made. Sometimes it's all about getting lucky I guess. Anyone else buying and selling or just holding?

 

Done

 

go LTC!

 

wish i would've bought more when i got them for 61.93 on 11/13/17

 

exchanging quite a bit!

 

Something to add to the OP

 

If you've doubled your money on a coin damn near tripled should you let it ride or take some out and buy other coins??

 

Its ultimately up to you. If it were me I would take some profit and leave some in the coin to see if it pops even further. I try to always buy and sell in chunks rather than the whole enchilada.

 

That's the million dollar question now isn't it. Something to think about is the capital gains tax. Most everyone here has probably owned less than a year. That's a big percentage if your not talking about a lot of money. Maybe pull out your initial investment and enough to cover the fees/ taxes or whatever and then play with the houses money for a while.

 

Sold bitcoin at the top, re bought lower, sold high again, re bought again and held my 11.33 litecoins. Things are looking up. Time to diversify the portfolio a little now

 

sweet, im in on BTC, ETH, LTC, IOTA, XRP and waiting for the right moment to jump on SALT

 

I'm in btc, ltc, iota, and ark. Can you buy just one grain of salt? boom.. dad jokes hahaha.

 

I just started too. So far its profitable. Not quite $1 a day but this is using a AMD 290 and a I5-4660k (not overclocked). I have a 470 8gb coming Monday to add. A more dedicated mining setup might be in the future though. My mobo has given me issues since day 1 so depending how adding the single 470 goes it might get replaced

Im definitely going slow at it so far. I need to tweak some things as from what I can tell the 290 isn't getting the H/s it should be.

If its a decent PC then you could make profit.

The biggest part Im seeing with mining is the minimum payout on a lot of pools. So yes you can make a profit, but to get a payout might take 4-5 months to get (depending what you are mining of course). Think that is something people should consider too. People see profit on calculators but don't check when they would actually get paid.

 

Who thinks BTC will take a dip below 10K again?