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Thread: Who buys Bitcoin

  1. #101

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    sage, i just did some math conversions. on swapping back about 1/2 of a bitcoin into etherium now i would gain about 2.5 extra etherium with about a $50 USD value fee. on june 7th i swapped 5.45 eth into btc and paid about a $65 fee. so paying a bit over $100 USD to gain an extra 2.5 eth at todays value would be gaining about $4200 USD for $100 fee. that is about as close as i can figure it. only issue is do i swap now or wait to see if the spread increases. its playing the gold to silver ratio game but with crypto. i have far less crypto to play around with so any judgement mistakes do not hurt nearly as much as with g/s ratio swaps too soon or too late. i hope that helps a little bit

  2. #102

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    Quote Originally Posted by maxwellsilverhammer View Post
    sage, i just did some math conversions. on swapping back about 1/2 of a bitcoin into etherium now i would gain about 2.5 extra etherium with about a $50 USD value fee. on june 7th i swapped 5.45 eth into btc and paid about a $65 fee. so paying a bit over $100 USD to gain an extra 2.5 eth at todays value would be gaining about $4200 USD for $100 fee. that is about as close as i can figure it. only issue is do i swap now or wait to see if the spread increases. its playing the gold to silver ratio game but with crypto. i have far less crypto to play around with so any judgement mistakes do not hurt nearly as much as with g/s ratio swaps too soon or too late. i hope that helps a little bit
    LTC does not have the gas charge ETH does. I swapped half my trading BTC to LTC to make the trade and have some dry powder if the ratio goes back to 300/1. The big difference between Au/Ag and crypto is that PM's take decades to change ratios. Crypto's can swing in weeks.
    Now there's no more oak oppression
    They passed a noble law
    Now the trees are all kept equal
    By hatchet, axe and saw.

    I will not comply.

    The Tea Party... quietly plotting to take over the world,
    and leave you the hell alone!

  3. #103

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    venezuelan using bitcoin to preserve wealth and commerce

  4. #104

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    Quote Originally Posted by yellowsnow View Post
    venezuelan using bitcoin to preserve wealth and commerce
    Hmm. . the video says Bitcoin saving Venezuela from inflation.

    Ironically . . . or is it just coincidentally . . .

    Here's an article from yesterday blaming Bitcoin on causing hyperinflation.

    How a bubble in bitcoin could lead to hyperinflation
    https://moneyweek.com/investments/al...-could-lead-to
    No his mind is not for rent
    To any god or government
    Always hopeful, yet discontent
    He knows changes aren't permanent
    But change is

  5. #105

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    Quote Originally Posted by t00nces2 View Post
    Yes, I have that chart. I have a chart for BTC/ETH, BTC/LTC, and ETH/LTC.... I just did a swap BTC for LTC at 1/270. Hoping for it to drop to / <200 again, but I would swap unde 220
    Can you post the historical charts?


    Also,

    What are your swapping ratio number targets? Something like this:

    BTC/ETH Ratio
    Swap BTC for ETH when >?
    Swap ETH for BTC when <?

    BTC/LTC Ratio
    Swap BTC for LTC when >?
    Swap LTC for BTC when <?

    ETH/LTC Ratio
    Swap ETC for LTC when >?
    Swap LTC for BTC when <?
    No his mind is not for rent
    To any god or government
    Always hopeful, yet discontent
    He knows changes aren't permanent
    But change is

  6. #106

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    Quote Originally Posted by The Sage View Post
    Hmm. . the video says Bitcoin saving Venezuela from inflation.

    Ironically . . . or is it just coincidentally . . .

    Here's an article from yesterday blaming Bitcoin on causing hyperinflation.

    How a bubble in bitcoin could lead to hyperinflation
    https://moneyweek.com/investments/al...-could-lead-to
    when the dollar worth less and less each day, btc is an easy escape goat. If crypto didn't exist, surely they blame hyperinflation on gold, silver, real estate and other physical assets. The dollar (and all other fiat) are gonna die one day, the blaming will never cease.

  7. #107

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    Quote Originally Posted by The Sage View Post
    Can you post the historical charts?


    Also,

    What are your swapping ratio number targets? Something like this:

    BTC/ETH Ratio
    Swap BTC for ETH when >?
    Swap ETH for BTC when <?

    BTC/LTC Ratio
    Swap BTC for LTC when >?
    Swap LTC for BTC when <?

    ETH/LTC Ratio
    Swap ETC for LTC when >?
    Swap LTC for BTC when <?
    I sent you a private message. I'm not sure there is "numbers", it seems more of a feel. There is definitely a high range and low ranges, but there are also kinda highs and kinda lows. The highest BTC/LTC so far is 1/306 with a low around 1/144. Right now we are around 1/254. I swapped into (half, in case it went higher) LTC @ 1/270 and will trade back @ 1/230. If it goes above 1/290 I will swap the other half over.
    Now there's no more oak oppression
    They passed a noble law
    Now the trees are all kept equal
    By hatchet, axe and saw.

    I will not comply.

    The Tea Party... quietly plotting to take over the world,
    and leave you the hell alone!

  8. #108

    Default

    Quote Originally Posted by t00nces2 View Post
    I sent you a private message. I'm not sure there is "numbers", it seems more of a feel. There is definitely a high range and low ranges, but there are also kinda highs and kinda lows. The highest BTC/LTC so far is 1/306 with a low around 1/144. Right now we are around 1/254. I swapped into (half, in case it went higher) LTC @ 1/270 and will trade back @ 1/230. If it goes above 1/290 I will swap the other half over.
    Thanks t00nces2 . . . yes, those numbers. The high and lows of the ratio ranges are good to know. Since you probably won't wait to hit the peak of the range to make the trade, your gut feel is trying to figure out "how close" to that number before it triggers the swap. 10%? For ex, if the BTC/LTC high is 306 . . maybe set a trigger to make the trade at 10% of that, or 276? or set 2 triggers as you have done: half at 12% (when you traded at 270) and are looking for the 290 for the other half (5% of range peak).

    Same thing on the low side? When to trade back? When the ratio is within 5%? 10% ? or even 20% of the lowest in the range?
    No his mind is not for rent
    To any god or government
    Always hopeful, yet discontent
    He knows changes aren't permanent
    But change is

  9. #109

    Default

    Quote Originally Posted by The Sage View Post
    Hmm. . the video says Bitcoin saving Venezuela from inflation.

    Ironically . . . or is it just coincidentally . . .

    Here's an article from yesterday blaming Bitcoin on causing hyperinflation.

    How a bubble in bitcoin could lead to hyperinflation
    https://moneyweek.com/investments/al...-could-lead-to
    Now that is interesting. Bitcoin leads to hyperinflation? I haven't heard that one before. Best I can tell Bitcoin is deflationary. Heck lots of bitcoin has simply been lost. You can get locked out of your wallet if you lose the keys. I'm still trying to figure out crypto. It seems there is a place for it, and it will be around for the long term. I view it like email in the early 90's. So even though I don't really understand it yet, I'm trying to learn more about it.

  10. #110

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    this latest drop in btc showing strength of btc.

    Someone deposited 79,000 btc to sell at market price (not OTC) at coinbase when btc was at ~ $31's k.
    Btc only dropped ~$1000's on a $2.5 billion sell order. (Not sure how many of the 79,000 btc were sold but it is logical to say the purpose to deposit btc into an exchange is to sell)

    https://www.reddit.com/r/Bitcoin/com...coin_worth_25/

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