Menu

Bought Bitcoin and can't stop !!!

Home General Investing Bought Bitcoin and can't stop !!!

  • Avatar Re3iRtH 
    Participant
    Status: Physician
    Posts: 145
    Joined: 09/23/2017
    Splash Refinancing Bonus

    Crixus,
    So you still didn’t answer my question. Do you own any crypto?

    #86283 Reply
    Avatar StuRedman 
    Participant
    Status: Physician
    Posts: 35
    Joined: 01/09/2016

    Just bought a computer, that I plan to put together,  from newegg with bitcoin. I thought I would pull out a bit 20k seems so high… If it crashes I’ll still have a computer at least.

    #88023 Reply
    Liked by NaOH
    Avatar docnews 
    Participant
    Status: Physician
    Posts: 412
    Joined: 01/09/2016
    #88398 Reply
    Avatar Doc Spouse 
    Moderator
    Status: Small Business Owner, Spouse
    Posts: 232
    Joined: 10/20/2017

    “I think there is a world market for maybe five computers.”

    Thomas Watson, president of IBM, 1943

    😛

    Blockchain will be used in everyday life.  Not so sure about the current iterations of cryptocurrency, though.

    #88906 Reply
    djohnflatfeecfp djohnflatfeecfp 
    Participant
    Status: Financial Advisor, Website Sponsor, Small Business Owner
    Posts: 242
    Joined: 09/14/2017

    Don’t look today!

    Accumulate Wealth, Not Fees - http://forwardthinkingwm.com/
    Daniel P. Johnson, CFP - [email protected]

    #91461 Reply
    Avatar Ryan 
    Participant
    Status: Physician
    Posts: 169
    Joined: 01/08/2016

    This was the most recent bitcoin thread I could find today, 2/6/18. Any updates? Is bitcoin investing still fun at $7k/btc compared to $20k/btc? Have you expanded to any of the spinoff currencies?

    I'm a physician. I also write software and build websites as a side-gig.

    #102210 Reply
    Avatar cozmopak 
    Participant
    Status: Physician
    Posts: 77
    Joined: 01/08/2017

    It’s a blast.

    #102218 Reply
    Avatar CryptoMD 
    Participant
    Status: Physician
    Posts: 31
    Joined: 12/31/2017

    I went short BTC around $13k and again around $11.5k. Closed the first, second is still open. Both with 5x leverage. I’m enjoying the ride down.

    Still have some alt coins that were picked up early to middle of December so most of them have BTC values that are still higher than I bought, a couple do not but they aren’t Ripple so they’re at least close to entry…Of course they are down in USD value as bitcoin has dropped.

    I haven’t put new fiat into any coins since last spring. I had been taking profits regularly, but haven’t in the last 3 weeks or so.

    #102277 Reply
    Zaphod Zaphod 
    Participant
    Status: Physician, Small Business Owner
    Posts: 6327
    Joined: 01/12/2016

    I went short BTC around $13k and again around $11.5k. Closed the first, second is still open. Both with 5x leverage. I’m enjoying the ride down.

    Still have some alt coins that were picked up early to middle of December so most of them have BTC values that are still higher than I bought, a couple do not but they aren’t Ripple so they’re at least close to entry…Of course they are down in USD value as bitcoin has dropped.

    I haven’t put new fiat into any coins since last spring. I had been taking profits regularly, but haven’t in the last 3 weeks or so.

    Click to expand…

    5x leverage? Holy h3ll. I hope you have a ton of cash in said account. Problem with leverage is even when you are absolutely right, you can still get shaken out by a blip move or a change in the brokers risk tolerance. For example today IBKR didnt allow any futures trading on margin, and they are well known to increase and decrease their margins on a whim. That kind of thing totally sucks. Good luck.

    #102317 Reply
    Avatar Dont_know_mind 
    Participant
    Status: Physician
    Posts: 987
    Joined: 11/21/2017

    5X ? That is nuts. With the volatility in bitcoin, you don’t need any leverage.

    Leverage is like speed in driving. At 150 miles an hour there is a 100% chance you will have a nasty accident. It is a matter of when not if.

    #102330 Reply
    Donnie Donnie 
    Participant
    Status: Other Professional
    Posts: 770
    Joined: 01/11/2017

    I went short BTC around $13k and again around $11.5k. Closed the first, second is still open. Both with 5x leverage. I’m enjoying the ride down.

    Still have some alt coins that were picked up early to middle of December so most of them have BTC values that are still higher than I bought, a couple do not but they aren’t Ripple so they’re at least close to entry…Of course they are down in USD value as bitcoin has dropped.

    I haven’t put new fiat into any coins since last spring. I had been taking profits regularly, but haven’t in the last 3 weeks or so.

    Click to expand…

    When did you go short BTC?  Only one month ago in the thread you started, you said, “If BTC gets to $30k by the end of the year, I will likely be a “crypto millionaire.”

    You also said you hadn’t traded any cryptocurrencies since March 2017. So in one month you went from BTC bull to putting on a massive short? Exactly how did you execute this 5x short by the way?  This isn’t Apple.

    While I’m sure it’s funny to you to make up stories, it actually does harm to people trying to make good decisions with their finances.

    #102335 Reply
    Jaqen Haghar, MD Jaqen Haghar, MD 
    Participant
    Status: Physician
    Posts: 206
    Joined: 07/27/2017

    I went short BTC around $13k and again around $11.5k. Closed the first, second is still open. Both with 5x leverage. I’m enjoying the ride down.

    Still have some alt coins that were picked up early to middle of December so most of them have BTC values that are still higher than I bought, a couple do not but they aren’t Ripple so they’re at least close to entry…Of course they are down in USD value as bitcoin has dropped.

    I haven’t put new fiat into any coins since last spring. I had been taking profits regularly, but haven’t in the last 3 weeks or so.

    Click to expand…

    When did you go short BTC?  Only one month ago in the thread you started, you said, “If BTC gets to $30k by the end of the year, I will likely be a “crypto millionaire.”

    You also said you hadn’t traded any cryptocurrencies since March 2017. So in one month you went from BTC bull to putting on a massive short? Exactly how did you execute this 5x short by the way?  This isn’t Apple.

    While I’m sure it’s funny to you to make up stories, it actually does harm to people trying to make good decisions with their finances.

    Click to expand…

    It’s pretty simple to follow.  When bitcoin was near $20,000 he was 2/3rds of the way to being a crypto millionaire (assuming no leverage), so he had about $666,000 invested at that time and was bullish. Then when it reached near $6,000 he was already 5x short so he was bearish.

    The bullish portion of the position lost about -$466,000 if still intact (ouch).

    Or perhaps he only lost about half, sold out, then used the 5x short to try to make up the losses with the new bearish position.

    Just rough estimates though.  Could be off a little   He could also use the 5x short as a sort of insurance on the huge drop on the bullish position.

    Of course the short position just took a hit the last couple days.

    My math should be pretty close here.  I’ll give the benefit of the doubt.  Also he states he’s playing with the house’s money, so no big deal.  😆

     

    #102341 Reply
    Liked by Craigy
    Donnie Donnie 
    Participant
    Status: Other Professional
    Posts: 770
    Joined: 01/11/2017

    So he rides a long position to the top and a ~20x gain and then at the top puts on a 5x short? Would love to know where you can get 5x leverage on a Bitcoin short.

    Anyway, the guy said in January that he didn’t buy any cryptocurrency since March 2017, but in this thread he said he “picked up some in December.” As George Bush says, Fool me once, we don’t get fooled again.

    #102345 Reply
    Jaqen Haghar, MD Jaqen Haghar, MD 
    Participant
    Status: Physician
    Posts: 206
    Joined: 07/27/2017
    Donnie wrote:

    So he rides a long position to the top and a ~20x gain and then at the top puts on a 5x short? Would love to know where you can get 5x leverage on a Bitcoin short.

    Anyway, the guy said in January that he didn’t buy any cryptocurrency since March 2017, but in this thread he said he “picked up some in December.” As George Bush says, Fool me once, we don’t get fooled again.

    Click to expand…

    Mad skills.

    “After years of disappointment with get-rich-quick schemes, I know I’m going to get rich with this scheme….  and quick.”  -Homer Simpson.

    #102350 Reply
    Liked by Hank, Donnie
    Avatar CryptoMD 
    Participant
    Status: Physician
    Posts: 31
    Joined: 12/31/2017

    Much like my previous thread, Donnie comes in like a bull in a china shop with poor understanding of what/where/how to trade cryptocurrencies and with absolutely zero effort to accurately characterize anything I’ve said. I’ll make this simple.

    -I haven’t put more fiat into crypto since last spring

    -alt coins are paired with BTC, therefore it does not require new fiat to “buy” or “pick up some” alt coins. My claim about adding some alt coins in December doesn’t make me a liar, it makes you naïve at best and maligning at worst.

    -I told you exactly what price I put in a short on BTC, It was $7k and $9k below the top. I have no idea where tops and bottoms will be.

    -Being bullish on BTC and opening a short as technical indicators and fundamentals say it’s headed towards $8k (it went even lower for a bit) are not mutually exclusive.

    -Donnie is a doctor, he can use google and figure out the various ways to short bitcoin and to trade with leverage. I’m not sure why he wants the guy that’s “making up stories” and potentially harming people who are trying to make good financial decisions, to tell everyone where they too can go full degen…

    #102363 Reply
    Liked by Craigy

Reply To: Bought Bitcoin and can't stop !!!

In case of a glitch or error, please save your text elsewhere, clear browser cache, close browser, open browser and refresh the page.

Notifications Mark all as read  |  Clear