Thanks Luc for yet another outstanding video :) Here are a few suggestions from me to make your life easy with the answers:
You could disable comments on YouTube and in the description connect this steemit blog. This way you will only have 1 platform to check.
Instead of answering people in their comments, you can make a video of some important questions ( like you did in the past) so that those questions might not be asked again in the future ( hopefully)
Ask people on your videos to upvote important questions. So you can know what your followers are confused about or what information they need.
Hope you don't mind this unsolicited advice. I try to answer whenever I can, because I know you cannot answer every question posted here.
Thanks again for your time and valuable lessons.
Cheers!!!
Hey Luc, my heartfelt thanks for making these videos. A while ago, I didn't even think it possible to be able to trade crypto where I come from. But for the past week I have been using small amounts to practice your concepts on smaller exchanges where there are bigger fluctuations, and have even manually backtested them on at least 10 cryptos (my understanding of your concepts could have been wrong, so I had to be certain that whatever I took away from your videos was passable even if not yet understood fully). Of the real trades (about 10+ of them), I have an average of 15% gain so far except for one - where my fat fingers added an extra decimal to the price (there are just too many decimals in some of the coins!). Thankfully it was just a 3 dollar trade and I couldn't care less as my plan was to use that amount to allow for mistakes before I took on significant trades. I must be the smallest trader around here but the nature of where I come from makes me so. In one of your earlier posts/videos you mentioned how you were motivated to help people trade and not driven by any form of financial gain. Well, rest assured you will helping some very real people around me when my account grows larger.
@quickfingersluc Hi Luc, greetings from Germany, I very much appreciate your contributions here! :-) What concerns me most since the takedown of BTC-e is the huge counterparty risk with exchanges in these times. You once said you trade with an account of about 100k USD. That may be peanuts for you, but I am planning to invest and trade with a sum of 30k USD that are by no means peanuts to me. How would you manage this sum in order to find the best equilibrium between risk and chance? Diversify equal parts on 4-6 exchanges? Investing 50% into the most promising long term cryptos and holding 50% cash on the sideline for position trading opportunities? I would love to hear your recommendations on that and I think others would love to hear your opinion on general rules for money management when investing and position trading in times of counterparty risk as well. Thanks for your answer, if you find the time for that!
And which one of all exchanges would you suggest for building a 500 USD small account? Bittrex, HitBTC, Liqui, Cryptopia?
(Btw: There are rumors on bad support and withdrawal behavior recently as well as an imminent insolvency of Poloniex on bitcointalk.)
Not sure what Luc does but personally I would split my risk across a number of exchanges (holding coin + FIAT) and then keep 1/4 of my capital in FIAT off the exchange and another 1/4 I would dollar cost average into long-term holdings (BTC, Altcoins, etc) and store in cold storage...hope that helps.
You can use a website like localbitcoins and sell peer to peer inside a mall for example. Lots of people would like to buy without having to register themselves in any bank or exchange. You just need to be careful and have a plan against scams. You could buy low and sell high much easier in this way than in any exchange.
Hi guys, I have a newbie question. it will be great if anyone can answer me.
I've been trying to set some trades based on the scanner alerts on HITBTC. But my orders never gets filled. can anybody tell me what is the problem?
I don't think anyone will be able to help as we don't know what you are doing. I would advise to not use the scanner if you are really a newbie and focus rather on Luc's method.
Here is one of the trades that I've tried.
the price went down to 0.00001000. I have placed a buy order on 0.00001005 but my order is stuck on the active trades and didn't execute even though the next candle was still on the same price.
Candles are just descriptive of the price action at that moment. I always try looking at the trading data to get an idea of just how much was sold, maybe too little was sold at that price and there were too many sellers ahead of you. Did you get your position partially filled at least?
Your too late, that is the problem with fat fingered sales caused by a single person dumping their position - the bounce usually occurs instantly after the sale is complete. I'm finding the scanner to be not as useful as I would have imagined for this reason, if I could instead spread around a tremendous amount of orders at insanely low prices that would be more successful in catching these rare moments - alas that would be too much of a commitment though.
Thank you Luc, I appreciate your tips. Keep the great videos coming on Steemit. My strategy is to hold my BTC until the fork, sell BTC immediately, watch for the spike bases you mentioned then buy back in on the spike up.
This is a special occasion where we can fairly accurately predict a panic is coming, I think @taranasus strategy is absolutely fine because the bounce should be predictable as well. Normally I would go lower than the base, not necessarily in this scenario though - BTC is reliable.
Thank you for all the work you are doing to teach us newbies! I've managed to "repair" my bad trades I did before I found your blog.
Now, for the fork. I sold most of my BTC at 2400 Euro a couple of days ago as I believe Bitcoin Cash will be near worthless in minutes after the fork. And if it don't, I think I'll do better having fiat to buy cheap BTC's after the fork.
As for altcoins I think there will not be time to follow them at the time of the fork, and my plan is to set limit buys at very low levels on the altcoins I believe in - hoping to get a few lucky strikes. Such as EOS, IOT, PAY, LTC and a couple more. Good luck to everybody at fork time!
I know Luc says he has his bitcoin tucked away in a wallet somewhere but I'm still unclear what he's saying about whether we should be holding BTC going into the fork or not. I guess I'm asking if I should sell my BTC now so that I have lots of cash on hand to buy during the dips tomorrow or if I should just hold on to the BTC I have and ride it out. Any thoughts about this?
Im never completely out of Bitcoin.. Im always holding a core position long term.. and I keep those safely tucked away, especially if there is going to be some possible exchange issues.. However I am a market reaction trader, I do not make predictions.. I simply react to what the market is doing.. So I would not be buying or selling anything here , at these levels, based on a theory of what might happen.. I just draw my bases, and make sure i have USDT availible to buy the panics.. I will react to the panics, thats what I do, and that's why I always win..
My thoughts on EOS: Trade it if you see the opportunity to exploit the market. That mimics my thoughts on ALL coins: Trade them if you see the opportunity to exploit the market. I don't care how good a coin's project is, all I care about since following Luc's model is the volatility in the market, the volume, the spread, and my potential for ROI.
I'm holding 70% BTC, 30% ethereum with other alts. BTC to get the BCC, and then using my other alts and eth to trade for more btcs (mostly b/w BTC and ETH).
If you hold your BTC at the time of the fork, You will receive the same amount of BCC (Bitcoin Cash). If you are not holding BTC then you wil not get the BCC.
I'll add to Luc's post and say that in trading it's not and should not be black and white. Meaning you can have some exposure to BTC if it rides up and you can have FIAT sitting in the wings if the price takes a tumble and you can average your BTC cost down...
ABSOLUTELY! This is perfect to do in case the panic drop happens really fast you don't miss it. Very important however, that you set an alarm to let you know exactly when your order was bought because it would be unfortunate to miss the bounce and it keeps falling after. I learned the hard way!
These questions are not trading strategy specific, but I was wondering if you could shed some light for me please, if you could.
I am on Mac and iPhone which poses 2 problems for me.
First of all, I can't seem to access the scanner telegram as mac doesn't recognize the address given in your previous video, from my browser. I have emailed @nervisrek from his contact details given in the previous video but heard nothing back yet.
Also, how did you make the trades while out and on the move? Do you have an Android device with the coinigy app? there is no iOS app for Coingy yet so I'm struggling there too.
You need to install the app Telegram before clicking the links for @nervisrek's scanner
There is no solution for iOS at this time. Carry around an Macbook like I do, or in a pinch use an iPad. Technically Coinigy doesnt support iPads at this time, but I have figured out enough workarounds that I could make it a usable situation
I have Mac and iPhone too, you need to download the app on your phone first and create the account there, then goto telegram and download to your Mac with the Mac version and then when you goto sign in on your comp you will already have an account made on your phone, it should just ask you for your phone number, then at that point you can click on the link in the blog post and it will ask you to join the channel the scanner is on. Hope that helps, good luck.
You will need to install telegram on your Iphone from here https://itunes.apple.com/app/telegram-messenger/id686449807 and then you can also use telegram via safari here https://web.telegram.org/#/login. The instructions are quite easy to follow. But to join the channel you will have to use your phone to click on those links if you are using a browser to use telegram.
Sorry to hear of your issues with setting up Telegram. I don't have an IPhone or Mac but the advice given by the guys who replied to your post should work. Thanks guys for helping out with this!
TB Bittrex is a bare bones but decent iPhone app, I actually really like it
HitBTC has a mobile web version, it's not great but it works
Poloniex has an Iphone app as well, looks good but I don't trade with them (yet)
Kraken has an iPhone app but it's not good
Tabtrader is one to keep an eye on, supposedly you can trade with it on android, and will be able to add api keys on the iOS version in the future.
Welcome aboard, thanks for the upvote.. Its always nice to have some bigger steemit players join our group. Your vote helps this blog get noticed by a bigger audience, thank you..
Nice post about cryptocurrency @quickfingersluc, upvoted! I want to invite you for our Discord channel especially for cryptotraders. You can join if you want to share thoughts and content.
I also made a post about free VPN networks to secure crypto transactions, maybe it's useful for you.
Great video as usual. This comment is off topic, but I'm totally new to cryptocurrency trading and I'm confused as to what type of virtual wallet I should use and how I go about converting USD into bitcoin and etherium so I can start investing and trading? Also, do I need to open a separate bank account to wire money for conversions? Thanks in advance for anyones help, and good luck to everyone tomorrow.
I use Coinbase JUST to purchase bitcoin, ethereum, or litecoin. You get a $150 buy limit with debit card (buying with debit is also instant) and $2500 buy limit with bank transfer (takes me around 1-3 days to receive).
As for what kind of wallet to use, I suggest the mobile app Mycelium. There are tons of wallets to use but there are all different in forms of security. The more money you have to lose, the more I recommend the more secure. The least safe are wallets on exchanges like coinbase or bitstamp. They are great to buy crypto but these third party services control the bitcoin's private keys (very important to do a bit of research on private keys but basically the owner of the private keys has full control of the bitcoin) so I recommend using trusted exchanges and never leaving huge amounts in them.
Then there are paper wallets that can be 100% secure if you take appropriate precautions (tutorials all over youtube). These very strange but efficient wallets are generated in seconds and will give you an address that anyone can use to send this wallet bitcoin and another key which is your private key. The private key you keep PRIVATE! If no one has seen it, those bitcoins will never be touched by anyone and neither by you if you lose that key so keep it safe!
Now come wallets that specify that they do give you control of your keys. Apps like Mycelium or Copay on your phone give you full control of your keys. Usually you will know if they do if they let you create a backup and write then 12 or 24 words to again keep to yourself and safely hidden. Those words will be your private key.
Last but not least are hardware wallets. These devices can go as low as $30 or up to $200 for more features. These devices are so secure that if you tried to send bitcoin on a wallet on your pc, even if it was full of viruses and malware waiting to steal your bitcoins, your private key is in the device and the transaction occurs within the device and keeps all those digital eyes off your bitcoin. Trezor is the most popular hardware wallet and goes for 89 (100usd) euros i believe.
Coinbase, Kraken, QuadrigaCX are a few options to convert FIAT into cryptos...It may take a day or two to get verified. You can then wire in funds or use credit card, etc. For a cold storage (offline) wallet, I would recommend Trezor.io - Good luck!
I made a tether account to see how it is, but this message appears
"Tether.to and USDT are unaffected by the recent events at Bitfinex. However, automated conversions between BTCUSDT are currently offline due to non-availability of the Bitfinex exchange API."
I searched on google and did not find any news anyone knows what happens?
You dont need a Tether account, just leave USDT on your exchange. Caveat - Leaving funds on an exchange has its own set of risks, its best to keep everything that you cannot afford to risk losing in your personal wallet where you control your private keys.
1 USDT is virtually equivalent to $1, it is a coin tethered to the US Dollar. So when you sell your BTC, you can store your sale in USDT while you wait for a future transaction. Its the same thing as holding USD, but keeping it in the form of a coin. I don't know anyone who actually buys USDT to hold, your the first person I have come across that talked about the official Tether wallet - but its the perfect coin to use as a temporary store in your exchange until we make the next trade. I hope this helps!
Hey Luc, I'm trying to get started but I can't get my card to work to buy cryptocurrency on coinbase. My bank says it's not then. And Coinbase support still hasn't gotten back with me. Any advice? I really want to start trading this stuff. I work nights and have a lot of down time and this 24/7 market is music to my ears. Getting paid while I'm getting paid. Please help!
Sit tight or open an account with another exchange - Kraken / Bitfinex / Bittrex / QuadrigaCX / Poloniex - It'll take a few days to get verified but don't sweat it - this market isn't going anywhere. ;)
Card will cost you lots of $$. Coinbase is fine if you connect your bank account. It takes about a week for funds to transfer. Consider sending over your buy-in and then buy when the time is right.
Coinbase support is awful, as are most exchanges' support. Expect that all around.
This is not the right time to be entering into the market for the first time via buy BTC on Coinbase. Watch Luc's videos, the price for BTC is currently at the top - wait till it falls.
Thanks for all the videos. I got into Crypto a few weeks ago and your videos have been refreshing. To date, I pretty much suck at all of this, but I think I have a better plan now. Here's a few questions I have for the blog community as I know you're busy.
In most of the videos you talk about zooming way out, but in some, you zoom in quite a bit and draw new bases. The other day I bought some DASH at 177 after it broke the base (I think) at 188.
Do you buy back on the very first bounce? I didnt.. and have been been waiting to get back to the yellow arrow. I think I may just dump it above my 2nd buy.
To that end, do most of these sells happen within a few hours, or are they a few days till they re-reach the base? I guess I'm just not sure as we zoom out to month view, it makes sense to wait a few days to sell.. but in this case with Dash, the rebound took maybe 10 hours.
I missed a bit drop today on LTC because I set a limit buy and missed it by $.01. Do you Market buy when you get in? Same for exit.. do you Market sell?
Extra credit..
a) Is there a quick formula for how much you'd put into a trade given the daily volume?
b) what are some coins you follow for dips? I've been following BTC, ETH, LTC, DASH, XMR, XRP and maybe a few others.. I haven't gotten any large enough base cracks to enter besides the DASH and the LTC that I missed.
Have another question for the knowledgable people here.
I've been having trouble knowing where to buy in sell in the middle of a dip. Here's a shot of ETH/USD with a dip in late June. On the 2 month view, i think i've hit the buy and sell points.
I would strongly suggest to watch Luc's videos again as I don't think you quite understand his method. You draw the base and then you buy before the crack. That will hurt you.
For me current base for ETH would be at about 140USD.
You should watch last Luc's viedo.
Hey luc I just wanted to say I disagree about Bitcoin going down after tomorrow. I too felt at first that its gonna crash but after putting some more thought into it I found some key points that suggest we are in for a moon.
1.Bitcoin has constantly been at a fight to pass $2900 and every time it gets there it plunges but less and less every time.
People have been nervous about this fork for months! I think now that the drama has finally come to an end (though I'm sure there will be more to come), I feel like people are gonna be more prone to buy on the excitement.
3.There is obviously more support for Bitcoin than Bitcoin cash. There is also a lot ego of people that are straight going to dump their BCC than people dumping their BTC.
4.Its called bitcoin. All the newcomers ALWAYS go to bitcoin first regardless of whats underneath. Still so many people that never even heard of bitcoin it blows my mind and now that veterans will tell the new guys its okay since the hardfork is now over they are gonna jump in hard.
I guess we will see in a few hours either way im just gonna hold both!
This is not related to this video and I still couldn't watch this also. Sorry if you have already addressed these in the video.
How you buy right away when market scanner alerts? I still didn't start trading but I mimicked of doing it. But those movements are so fast that no matter how fast I try the prices bounce back up and I don't get to buy low. How you manage these things? This is regarding day trading actually.
Do you trade forex much? I also like to get into that and I wonder if you have any books or guides that you can suggest for me to read and find a good strategy. I have the basics but haven't traded yet.
Thanks a lot man. As i always say. You are a gem!!!
Theres a reason his screen name is quickfingersluc lol, I've done the same thing as you tracked closely many of these coins the scanner picks up. Sometimes it seems like you have a minute or two to get a buy in.....but there do seem to be quite a few that allow a little more time. You just gotta be alert and ready to pounce on the deal I suppose. I'm not using it yet since I only just got my Kraken account funded this past weekend and am waiting to hopefully score some bitcoin and ether to then move to the exchanges that seem the most active with the scanner.
It seems to me if you're funded and operational (meaning you have accounts at all the exchanges being scanned and have bit and eth to trade) that there are just soooooo many opportunities coming through, can't wait to get to that point as it seems very lucrative and to be honest seems like a ton of fun.
Thanks for the reply.. I only tried BTC pairs because I have only BTC need to buy some ETH soon because I also noticed nice charts for ETH than BTC for low volume coins.. So how are you doing? Made any profits ?
Newbie queston alert! I'm from Australia and very new to the world of cryptocurrency. I just registered on Bittrex and on the trading platform Coinigy. The intention is to trade cryptocurrency via Coinigy. Question 1 - for my very first trade, do i have to buy Bitcoin or Etherium and use it to buy other altcoins? 2. How will i get the bitcoin or etherium since you can't use fiat on Bittrex? 3. I think i can use usdt to buy cryptocurrencies but not sure where or how - and to be honest although i've read up on usdt, i feel someone needs to explain the concept to me like i was a 10 year old! 3. If for example, i buy some etherium in my first trade and make a profit, how do i buy more etherium using only the profit? The goal for now is to keep putting back some/most of my profit to trade more currencies. Thanks in advance for your help.
You can buy bitcoin on various websites like coinmama, coinbase, blockchain.info etc . I personally bought a few from localbitcoin and coinmama. On local bitcoin you can buy it in cash too, but you have to do your research before you meet that person and buy your coins. Secondly, once you buy your bitcoin you can transfer it on bittrex and start trading. Thirdly, If you trade for example NEO/ETH. You buy 1 NEO for 7$ worth ETH and sell it for 11$ you just made 11$ worth ETH on your trade. Hope this helped.
You can create an account with coinjar.com.au trading platform and use BPAY or POLi to deposit money from your Australian bank account into your coinjar account.
If using BPay it can take up to 48 hours for funds to appear in your coinjar account. Once your money is in coinjar, you can buy bitcoin. Move your bitcoins from your coinjar wallet to your bittrex bitcoin wallet and trade.
www.btcmarkets.net is another trading platform popular with Australians.
I know this is a bit off topic, but I hope you can help me @quickfingersluc. Which base should I be trading off - 1, 2,3, or 4? Usually I can figure this out, but this is one of those rare charts where I am rather confused as to which base is ideal. Personally I think I should attempt to trade off the top base, and if that fails or the chart adjusts work my way down the list. Opinions? https://www.coinigy.com/s/i/59802d9a4c83d/
Luc, I just want to thank you for all your very informative and instructional videos. As a newbie, I've learned so much from you and your approach on trading. You may just have changed my life for the better! Thanks again!
I've noticed that BTC on Coinbase is about 3% cheaper compared to Kraken. Coinbase will not give free BCC/BCH, Kraken will. Is this a indication of what BCC/BCH will be worth? About 3% of BCC? Just a thought :-)
@quickfingersluc your training is a breath of fresh air, having seen the sensationalised traders on Youtube. As a new cryprto trader I would like to understand how you started in Crypto coming from a forex background. How long you have been in Crypto, your initial capital and starting strategie.
The official place to buy USDT is from https://tether.to/ . You can also exchange any crypto or USD for USDT at many exchanges like Kraken, Poloniex. Some exchanges like Bitfinex treats USD as the same thing as USDT.
Thanks again for another great video Luc, I learn something new each time and my ability to read the charts is definitely improving.
I have a quick question regarding the timeframe for any potential BTC drop due to the fork.
As of 3pm UST, the price had dropped to around 2550 and is now back up around 2700. Is this play still ongoing or do you think a much bigger drop through some of the bases is unlikely now?
If any other more experienced traders would like to answer, that would be much appreciated.
The bitcoin cash fork is fully underway but the process itself could take up to several hours or even days to complete.
As of 3.06pm BST the BTC blockchain is five blocks ahead of the BCC blockchain which is yet to produce its own currency.
“It's likely going to take at least several hours,” bitGo engineer Jameson Lopp explained in a tweet.
According to BioInc co-founder Jeff Garzik, BBC is currently mining at just over one per cent of the BTC hashrate, which means it would likely only mine one block in 24 hours
I've sold BTC for USD a few minutes after the fork and am now basically waiting to see if the market will react in any big way.
It's also interesting to see that ETH went up this time and didn't follow BTC on the way down, at least for these first few hours after the fork.
Theater on stock; orders and alerts ready, but no drama at the moment, so waiting. This is what I am reading at the moment:
->
“However, due to a lack of support from some of the major exchanges, it looks at this stage as though Bitcoin cash will fail to gain traction.
@andreakrieger - You sold your BTC for USD? Don't you need to hold it on the exchange in order for your BCC to be created? I have bitcoin on Bitfinex now and still haven't received any BCC. Does anyone know when this will happen on Bitfinex? I'd like to take out the BTC and exchange for USDT at minimum. Any thoughts?
You won't receive any BCC until the first block is mined. That could take a while at the actual hashrate.
You can use this site to monitor the status of the fork: https://www.btcforkmonitor.info/
Thanks, that's helpful. So do I need to 'leave' my BTC on Bitfinex in order to get the BCC upon first blocks being mined? The reason I ask is because I want to move some of my BTC for trading. Any thoughts? If I start moving and trading around my BTC, I'll jeopordize my chances of getting BCC? Anyone know?
I believe you're right ... But I am no expert :)
For sure, I am keeping 99% of my BTC until that 1st block is mined and I see a BCC wallet appears on Bittrex or Kraken (the 2 exchange I use)
@dscenterprises:
On Bittrex it says: "If you have a Bitcoin (BTC) balance on Bittrex during the BCC UAHF time on August 1st, 5:20am PT (12:20pm UTC), you will be additionally credited the equivalent amount of Bitcoin Cash (BCC) on a 1:1 basis. i.e. 1 BTC on Bittrex held during the on-exchange snapshot will get you 1 BCC. "
And I did have BTC during that time, so if they respect their written statement they will credit me the BCC.
I sold my BTC for USDT because I suspect the value of buying BTC low and riding up the bounce will be greater than the value of the BCC (BCH) that I will be credited.
I saw this come by on hitbtc.com "AltTAB: BTC hard fork is over. Those of you who store BTC on your accounts, are going to receive the same amount of BCC within the next couple of hours." (AltTAB is the moderator). Haven't seen any BC cash yet.
It took me forever to get to steemit (was being approved), but I'm finally here. Thanks Luc for getting me in the green zone of trading. As bitcoin was going down this morning the alts went up, so I sold high and bought in the dips to re-sell again. thanks again my man.
How do you guys evaluate the current price situation with bitcoin after the fork and before the first BCC block mined? Will there be any reason or chance for the big panic crash anymore or is this hope/opportunity now over? Can anybody explain what probably will happen after the first block has been mined? Is first block necessary for people to be able to sell their bitcoin and then maybe trigger the panic sell?
I just read the following lines in an article: "By now, however, fears of a sudden split by way of BIP 148 have been avoided. ... On the other hand, a miner-activated hard fork (MAHF) that will fork bitcoin is scheduled for later today." What does that mean? May this create a panic?
It is not necessary for the First block of BCC to be mined in order to sell your BTC. You can sell BTC at anytime... if you have it on an exchange like Poloniex. However, it is still unclear whether or not you need to hold your BTC on an exchange that will issue BCC in order to get it. See some of the comments above... seems like you don't need to wait... but your call.
No that's what I meant, if the people need to wait for the first block in order to be able to get BCC. Maybe that's the reason why most of the people that were hoping to get BCC did not sell BTC yet, causing the panic not to happen until now.
ah got it.... good insight. but not all people have received their BCC on exchanges. I anticipate the panic to continue once ALL BCC has been received...
Yes I see the drop you are mentioning, around 5am UTC? I will have a look into this and thanks for spotting this. I have been doing a lot of code updates recently so might have missed one due to an update/updating.
Also, would you be interested in testing my website version of the scanner?
can you send me an email at [email protected] and i will send you the link
Hi Luc! Thank you for your latest update. I wrote a piece about how to deal with your Bitcoin to get Bitcoin Cash safely. I think your readers might find it instructive.
Hi Luc and anyone one else here who could help, I'm fairly new to the crypto market but your videos have been perfect to build up my confidence to trade. I want to enter the market at £300 as a starting point and go from there, what would be the best way to start off and which coin
maybe? Really would appreciate your advice. Keep up with the vids !! @quickfingersluc
Thanks Luc for yet another outstanding video :) Here are a few suggestions from me to make your life easy with the answers:
You could disable comments on YouTube and in the description connect this steemit blog. This way you will only have 1 platform to check.
Instead of answering people in their comments, you can make a video of some important questions ( like you did in the past) so that those questions might not be asked again in the future ( hopefully)
Ask people on your videos to upvote important questions. So you can know what your followers are confused about or what information they need.
Hope you don't mind this unsolicited advice. I try to answer whenever I can, because I know you cannot answer every question posted here.
Thanks again for your time and valuable lessons.
Cheers!!!
Hey Luc, my heartfelt thanks for making these videos. A while ago, I didn't even think it possible to be able to trade crypto where I come from. But for the past week I have been using small amounts to practice your concepts on smaller exchanges where there are bigger fluctuations, and have even manually backtested them on at least 10 cryptos (my understanding of your concepts could have been wrong, so I had to be certain that whatever I took away from your videos was passable even if not yet understood fully). Of the real trades (about 10+ of them), I have an average of 15% gain so far except for one - where my fat fingers added an extra decimal to the price (there are just too many decimals in some of the coins!). Thankfully it was just a 3 dollar trade and I couldn't care less as my plan was to use that amount to allow for mistakes before I took on significant trades. I must be the smallest trader around here but the nature of where I come from makes me so. In one of your earlier posts/videos you mentioned how you were motivated to help people trade and not driven by any form of financial gain. Well, rest assured you will helping some very real people around me when my account grows larger.
@quickfingersluc Hi Luc, greetings from Germany, I very much appreciate your contributions here! :-) What concerns me most since the takedown of BTC-e is the huge counterparty risk with exchanges in these times. You once said you trade with an account of about 100k USD. That may be peanuts for you, but I am planning to invest and trade with a sum of 30k USD that are by no means peanuts to me. How would you manage this sum in order to find the best equilibrium between risk and chance? Diversify equal parts on 4-6 exchanges? Investing 50% into the most promising long term cryptos and holding 50% cash on the sideline for position trading opportunities? I would love to hear your recommendations on that and I think others would love to hear your opinion on general rules for money management when investing and position trading in times of counterparty risk as well. Thanks for your answer, if you find the time for that!
And which one of all exchanges would you suggest for building a 500 USD small account? Bittrex, HitBTC, Liqui, Cryptopia?
(Btw: There are rumors on bad support and withdrawal behavior recently as well as an imminent insolvency of Poloniex on bitcointalk.)
What a great questions passhesiast, I too would love to hear Luc's suggested strategies. Perhaps a video post on this would be better.
Not sure what Luc does but personally I would split my risk across a number of exchanges (holding coin + FIAT) and then keep 1/4 of my capital in FIAT off the exchange and another 1/4 I would dollar cost average into long-term holdings (BTC, Altcoins, etc) and store in cold storage...hope that helps.
You can use a website like localbitcoins and sell peer to peer inside a mall for example. Lots of people would like to buy without having to register themselves in any bank or exchange. You just need to be careful and have a plan against scams. You could buy low and sell high much easier in this way than in any exchange.
thanks for bringing this up. would love to hear about money-/ risk-management.
Hi guys, I have a newbie question. it will be great if anyone can answer me.
I've been trying to set some trades based on the scanner alerts on HITBTC. But my orders never gets filled. can anybody tell me what is the problem?
I don't think anyone will be able to help as we don't know what you are doing. I would advise to not use the scanner if you are really a newbie and focus rather on Luc's method.
Here is one of the trades that I've tried.
the price went down to 0.00001000. I have placed a buy order on 0.00001005 but my order is stuck on the active trades and didn't execute even though the next candle was still on the same price.
Candles are just descriptive of the price action at that moment. I always try looking at the trading data to get an idea of just how much was sold, maybe too little was sold at that price and there were too many sellers ahead of you. Did you get your position partially filled at least?
The alert was on at 09:38.
on this time there was already an order executed on 0.00001004
I've managed to place my trade on 09:40 at 0.0001005 but non of it were filled.
The same thing happened with me with two other coins.
Am I getting in the trade too late, or what is the problem?
Your too late, that is the problem with fat fingered sales caused by a single person dumping their position - the bounce usually occurs instantly after the sale is complete. I'm finding the scanner to be not as useful as I would have imagined for this reason, if I could instead spread around a tremendous amount of orders at insanely low prices that would be more successful in catching these rare moments - alas that would be too much of a commitment though.
@tizzle, so not ever sell shows up on the trade data? Because according to it he beat the other sellers by 5 mins. I dunno, but mine always do.
Thank you Luc, I appreciate your tips. Keep the great videos coming on Steemit. My strategy is to hold my BTC until the fork, sell BTC immediately, watch for the spike bases you mentioned then buy back in on the spike up.
Ready! (https://gyazo.com/1a534e2782de43c893fb466663176d64)
Great Job!
Hmm..I think if each order would be 100-200 basis points lower it would more likely meet Luc's "nibble-after-breaking-base-strategy".
This is a special occasion where we can fairly accurately predict a panic is coming, I think @taranasus strategy is absolutely fine because the bounce should be predictable as well. Normally I would go lower than the base, not necessarily in this scenario though - BTC is reliable.
Thank you for all the work you are doing to teach us newbies! I've managed to "repair" my bad trades I did before I found your blog.
Now, for the fork. I sold most of my BTC at 2400 Euro a couple of days ago as I believe Bitcoin Cash will be near worthless in minutes after the fork. And if it don't, I think I'll do better having fiat to buy cheap BTC's after the fork.
As for altcoins I think there will not be time to follow them at the time of the fork, and my plan is to set limit buys at very low levels on the altcoins I believe in - hoping to get a few lucky strikes. Such as EOS, IOT, PAY, LTC and a couple more. Good luck to everybody at fork time!
I already got aTON of Tether waiting for a panic sell to happen. Let's see what happens. Happy Trading ya'll. #InCryptosWeTrust
Where did you source your tether?
Really great insight here! Everyone is so excited for what's to come :)
Thanks for the info. No clue what we are going to do..
Awesome insight! Your trading style rockz, keep it up!
I know Luc says he has his bitcoin tucked away in a wallet somewhere but I'm still unclear what he's saying about whether we should be holding BTC going into the fork or not. I guess I'm asking if I should sell my BTC now so that I have lots of cash on hand to buy during the dips tomorrow or if I should just hold on to the BTC I have and ride it out. Any thoughts about this?
Im never completely out of Bitcoin.. Im always holding a core position long term.. and I keep those safely tucked away, especially if there is going to be some possible exchange issues.. However I am a market reaction trader, I do not make predictions.. I simply react to what the market is doing.. So I would not be buying or selling anything here , at these levels, based on a theory of what might happen.. I just draw my bases, and make sure i have USDT availible to buy the panics.. I will react to the panics, thats what I do, and that's why I always win..
Thoughts on EOS? Currently i am holding 70% ETH, 10% XRP, 10% LTC, and 10% EOS.
From what i have seen, EOS tokens give no rights of ownership or anything. check the eos terms and conditions before you buy eos.
I have noticed a lot of large % drop alerts on the scanner for EOS:
http://imgur.com/a/N82v7
My thoughts on EOS: Trade it if you see the opportunity to exploit the market. That mimics my thoughts on ALL coins: Trade them if you see the opportunity to exploit the market. I don't care how good a coin's project is, all I care about since following Luc's model is the volatility in the market, the volume, the spread, and my potential for ROI.
I'm holding 70% BTC, 30% ethereum with other alts. BTC to get the BCC, and then using my other alts and eth to trade for more btcs (mostly b/w BTC and ETH).
If you hold your BTC at the time of the fork, You will receive the same amount of BCC (Bitcoin Cash). If you are not holding BTC then you wil not get the BCC.
I'll add to Luc's post and say that in trading it's not and should not be black and white. Meaning you can have some exposure to BTC if it rides up and you can have FIAT sitting in the wings if the price takes a tumble and you can average your BTC cost down...
Also, Luc, thanks as always for these amazing videos! I'm learning so very much from you!
Is there any reason that a new trader couldn't just set up buy and sell orders at the levels that you mention in the videos and be good to go?
ABSOLUTELY! This is perfect to do in case the panic drop happens really fast you don't miss it. Very important however, that you set an alarm to let you know exactly when your order was bought because it would be unfortunate to miss the bounce and it keeps falling after. I learned the hard way!
Same question, why can't I just set up Buy Stops?
I don't think you can sell something what you don't have yet. 1st you need to buy it and then you can set sell option.
I'm just going to wait to see what happens. Very interesting time in the world of cryptocurrencies right now!
Great video Luc. Thanks for breaking this down so simply. Looking forward to seeing what happens. Buckle in.
Great stuff mate!, Thankyou
Yes, I'm ready
i will trade them to get more BTC
Hi Luc,
These questions are not trading strategy specific, but I was wondering if you could shed some light for me please, if you could.
I am on Mac and iPhone which poses 2 problems for me.
First of all, I can't seem to access the scanner telegram as mac doesn't recognize the address given in your previous video, from my browser. I have emailed @nervisrek from his contact details given in the previous video but heard nothing back yet.
Also, how did you make the trades while out and on the move? Do you have an Android device with the coinigy app? there is no iOS app for Coingy yet so I'm struggling there too.
You need to install the app Telegram before clicking the links for @nervisrek's scanner
There is no solution for iOS at this time. Carry around an Macbook like I do, or in a pinch use an iPad. Technically Coinigy doesnt support iPads at this time, but I have figured out enough workarounds that I could make it a usable situation
I have Mac and iPhone too, you need to download the app on your phone first and create the account there, then goto telegram and download to your Mac with the Mac version and then when you goto sign in on your comp you will already have an account made on your phone, it should just ask you for your phone number, then at that point you can click on the link in the blog post and it will ask you to join the channel the scanner is on. Hope that helps, good luck.
You will need to install telegram on your Iphone from here https://itunes.apple.com/app/telegram-messenger/id686449807 and then you can also use telegram via safari here https://web.telegram.org/#/login. The instructions are quite easy to follow. But to join the channel you will have to use your phone to click on those links if you are using a browser to use telegram.
Sorry to hear of your issues with setting up Telegram. I don't have an IPhone or Mac but the advice given by the guys who replied to your post should work. Thanks guys for helping out with this!
TB Bittrex is a bare bones but decent iPhone app, I actually really like it
HitBTC has a mobile web version, it's not great but it works
Poloniex has an Iphone app as well, looks good but I don't trade with them (yet)
Kraken has an iPhone app but it's not good
Tabtrader is one to keep an eye on, supposedly you can trade with it on android, and will be able to add api keys on the iOS version in the future.
You can use Blockfolio for alerts.
Great video! Upvoted and Following.
Welcome aboard, thanks for the upvote.. Its always nice to have some bigger steemit players join our group. Your vote helps this blog get noticed by a bigger audience, thank you..
LooKs like the split is pushed back
Thanks Luc, great video..
Bittrex better than Bitfinex for this?
That depends on which Exchange you prefer to use, both exchanges have tons of liquidity so it should not matter which one you choose.
Nice post about cryptocurrency @quickfingersluc, upvoted! I want to invite you for our Discord channel especially for cryptotraders. You can join if you want to share thoughts and content.
I also made a post about free VPN networks to secure crypto transactions, maybe it's useful for you.
There is a useful tool to compare graphics, it has the icon of a scale.
https://www.coinigy.com/s/i/597fc3b5c12e6/
Great video as usual. This comment is off topic, but I'm totally new to cryptocurrency trading and I'm confused as to what type of virtual wallet I should use and how I go about converting USD into bitcoin and etherium so I can start investing and trading? Also, do I need to open a separate bank account to wire money for conversions? Thanks in advance for anyones help, and good luck to everyone tomorrow.
I use Coinbase JUST to purchase bitcoin, ethereum, or litecoin. You get a $150 buy limit with debit card (buying with debit is also instant) and $2500 buy limit with bank transfer (takes me around 1-3 days to receive).
As for what kind of wallet to use, I suggest the mobile app Mycelium. There are tons of wallets to use but there are all different in forms of security. The more money you have to lose, the more I recommend the more secure. The least safe are wallets on exchanges like coinbase or bitstamp. They are great to buy crypto but these third party services control the bitcoin's private keys (very important to do a bit of research on private keys but basically the owner of the private keys has full control of the bitcoin) so I recommend using trusted exchanges and never leaving huge amounts in them.
Then there are paper wallets that can be 100% secure if you take appropriate precautions (tutorials all over youtube). These very strange but efficient wallets are generated in seconds and will give you an address that anyone can use to send this wallet bitcoin and another key which is your private key. The private key you keep PRIVATE! If no one has seen it, those bitcoins will never be touched by anyone and neither by you if you lose that key so keep it safe!
Now come wallets that specify that they do give you control of your keys. Apps like Mycelium or Copay on your phone give you full control of your keys. Usually you will know if they do if they let you create a backup and write then 12 or 24 words to again keep to yourself and safely hidden. Those words will be your private key.
Last but not least are hardware wallets. These devices can go as low as $30 or up to $200 for more features. These devices are so secure that if you tried to send bitcoin on a wallet on your pc, even if it was full of viruses and malware waiting to steal your bitcoins, your private key is in the device and the transaction occurs within the device and keeps all those digital eyes off your bitcoin. Trezor is the most popular hardware wallet and goes for 89 (100usd) euros i believe.
I hope i was of some help!
Coinbase, Kraken, QuadrigaCX are a few options to convert FIAT into cryptos...It may take a day or two to get verified. You can then wire in funds or use credit card, etc. For a cold storage (offline) wallet, I would recommend Trezor.io - Good luck!
I made a tether account to see how it is, but this message appears
"Tether.to and USDT are unaffected by the recent events at Bitfinex. However, automated conversions between BTCUSDT are currently offline due to non-availability of the Bitfinex exchange API."
I searched on google and did not find any news anyone knows what happens?
You dont need a Tether account, just leave USDT on your exchange. Caveat - Leaving funds on an exchange has its own set of risks, its best to keep everything that you cannot afford to risk losing in your personal wallet where you control your private keys.
I dont have USDT only BTC, anyway is only 0.062BTC not big deal.
1 USDT is virtually equivalent to $1, it is a coin tethered to the US Dollar. So when you sell your BTC, you can store your sale in USDT while you wait for a future transaction. Its the same thing as holding USD, but keeping it in the form of a coin. I don't know anyone who actually buys USDT to hold, your the first person I have come across that talked about the official Tether wallet - but its the perfect coin to use as a temporary store in your exchange until we make the next trade. I hope this helps!
Hey Luc, I'm trying to get started but I can't get my card to work to buy cryptocurrency on coinbase. My bank says it's not then. And Coinbase support still hasn't gotten back with me. Any advice? I really want to start trading this stuff. I work nights and have a lot of down time and this 24/7 market is music to my ears. Getting paid while I'm getting paid. Please help!
Sit tight or open an account with another exchange - Kraken / Bitfinex / Bittrex / QuadrigaCX / Poloniex - It'll take a few days to get verified but don't sweat it - this market isn't going anywhere. ;)
Card will cost you lots of $$. Coinbase is fine if you connect your bank account. It takes about a week for funds to transfer. Consider sending over your buy-in and then buy when the time is right.
Coinbase support is awful, as are most exchanges' support. Expect that all around.
This is not the right time to be entering into the market for the first time via buy BTC on Coinbase. Watch Luc's videos, the price for BTC is currently at the top - wait till it falls.
Hi Luc and community,
Thanks for all the videos. I got into Crypto a few weeks ago and your videos have been refreshing. To date, I pretty much suck at all of this, but I think I have a better plan now. Here's a few questions I have for the blog community as I know you're busy.
In most of the videos you talk about zooming way out, but in some, you zoom in quite a bit and draw new bases. The other day I bought some DASH at 177 after it broke the base (I think) at 188.
https://www.coinigy.com/s/i/597feb470cd5e/
https://www.coinigy.com/s/i/597fee6007526/
Do you buy back on the very first bounce? I didnt.. and have been been waiting to get back to the yellow arrow. I think I may just dump it above my 2nd buy.
To that end, do most of these sells happen within a few hours, or are they a few days till they re-reach the base? I guess I'm just not sure as we zoom out to month view, it makes sense to wait a few days to sell.. but in this case with Dash, the rebound took maybe 10 hours.
I missed a bit drop today on LTC because I set a limit buy and missed it by $.01. Do you Market buy when you get in? Same for exit.. do you Market sell?
Extra credit..
a) Is there a quick formula for how much you'd put into a trade given the daily volume?
b) what are some coins you follow for dips? I've been following BTC, ETH, LTC, DASH, XMR, XRP and maybe a few others.. I haven't gotten any large enough base cracks to enter besides the DASH and the LTC that I missed.
c) Do you cancel buy orders when you go to sleep?
Thanks all,
Coinmangler
Have another question for the knowledgable people here.
I've been having trouble knowing where to buy in sell in the middle of a dip. Here's a shot of ETH/USD with a dip in late June. On the 2 month view, i think i've hit the buy and sell points.
https://www.coinigy.com/s/i/597ff0dcd8f33/
but in the moment (zoomed in) are all of these (in purple) safe entry and exit points? In the moment it's harder for me to tell..
https://www.coinigy.com/s/i/597ff123f0b6d/
To that end, what is the current base on ETH, $180?
https://www.coinigy.com/s/i/597ff2076c2c3/
Thanks again!
I would strongly suggest to watch Luc's videos again as I don't think you quite understand his method. You draw the base and then you buy before the crack. That will hurt you.
For me current base for ETH would be at about 140USD.
You should watch last Luc's viedo.
Thanks for the reply Krakan. Which video, Day Trading vs Postion? or Trading like a Professional? Those are the two i've watched.
You think ETH base is at 140? Huh.. could take weeks to dip down that far. You sure it's not at 180 on my last image?
What about now on this image? https://www.coinigy.com/s/i/59808f2770a61/
Is 180 not a base? what about 190? They look basey... Thx.
Hey luc I just wanted to say I disagree about Bitcoin going down after tomorrow. I too felt at first that its gonna crash but after putting some more thought into it I found some key points that suggest we are in for a moon.
1.Bitcoin has constantly been at a fight to pass $2900 and every time it gets there it plunges but less and less every time.
3.There is obviously more support for Bitcoin than Bitcoin cash. There is also a lot ego of people that are straight going to dump their BCC than people dumping their BTC.
4.Its called bitcoin. All the newcomers ALWAYS go to bitcoin first regardless of whats underneath. Still so many people that never even heard of bitcoin it blows my mind and now that veterans will tell the new guys its okay since the hardfork is now over they are gonna jump in hard.
I guess we will see in a few hours either way im just gonna hold both!
As Luc said many times he is not trying to predict the future but he is rather reacting to the market. IF BTC will fall he will buy. That's it.
He did say that but he also said hes holding btc which is basically what i said i'm doing. Never said anything about buying. you read my comment?
thank you so much for all the video's!
Amazing as always Luc! See you at 5:20am! ;)
Hi great Luc!! :-D
This is not related to this video and I still couldn't watch this also. Sorry if you have already addressed these in the video.
How you buy right away when market scanner alerts? I still didn't start trading but I mimicked of doing it. But those movements are so fast that no matter how fast I try the prices bounce back up and I don't get to buy low. How you manage these things? This is regarding day trading actually.
Do you trade forex much? I also like to get into that and I wonder if you have any books or guides that you can suggest for me to read and find a good strategy. I have the basics but haven't traded yet.
Thanks a lot man. As i always say. You are a gem!!!
Theres a reason his screen name is quickfingersluc lol, I've done the same thing as you tracked closely many of these coins the scanner picks up. Sometimes it seems like you have a minute or two to get a buy in.....but there do seem to be quite a few that allow a little more time. You just gotta be alert and ready to pounce on the deal I suppose. I'm not using it yet since I only just got my Kraken account funded this past weekend and am waiting to hopefully score some bitcoin and ether to then move to the exchanges that seem the most active with the scanner.
It seems to me if you're funded and operational (meaning you have accounts at all the exchanges being scanned and have bit and eth to trade) that there are just soooooo many opportunities coming through, can't wait to get to that point as it seems very lucrative and to be honest seems like a ton of fun.
Thanks for the reply.. I only tried BTC pairs because I have only BTC need to buy some ETH soon because I also noticed nice charts for ETH than BTC for low volume coins.. So how are you doing? Made any profits ?
Newbie queston alert! I'm from Australia and very new to the world of cryptocurrency. I just registered on Bittrex and on the trading platform Coinigy. The intention is to trade cryptocurrency via Coinigy. Question 1 - for my very first trade, do i have to buy Bitcoin or Etherium and use it to buy other altcoins? 2. How will i get the bitcoin or etherium since you can't use fiat on Bittrex? 3. I think i can use usdt to buy cryptocurrencies but not sure where or how - and to be honest although i've read up on usdt, i feel someone needs to explain the concept to me like i was a 10 year old! 3. If for example, i buy some etherium in my first trade and make a profit, how do i buy more etherium using only the profit? The goal for now is to keep putting back some/most of my profit to trade more currencies. Thanks in advance for your help.
You can buy bitcoin on various websites like coinmama, coinbase, blockchain.info etc . I personally bought a few from localbitcoin and coinmama. On local bitcoin you can buy it in cash too, but you have to do your research before you meet that person and buy your coins. Secondly, once you buy your bitcoin you can transfer it on bittrex and start trading. Thirdly, If you trade for example NEO/ETH. You buy 1 NEO for 7$ worth ETH and sell it for 11$ you just made 11$ worth ETH on your trade. Hope this helped.
You can create an account with coinjar.com.au trading platform and use BPAY or POLi to deposit money from your Australian bank account into your coinjar account.
If using BPay it can take up to 48 hours for funds to appear in your coinjar account. Once your money is in coinjar, you can buy bitcoin. Move your bitcoins from your coinjar wallet to your bittrex bitcoin wallet and trade.
www.btcmarkets.net is another trading platform popular with Australians.
I know this is a bit off topic, but I hope you can help me @quickfingersluc. Which base should I be trading off - 1, 2,3, or 4? Usually I can figure this out, but this is one of those rare charts where I am rather confused as to which base is ideal. Personally I think I should attempt to trade off the top base, and if that fails or the chart adjusts work my way down the list. Opinions? https://www.coinigy.com/s/i/59802d9a4c83d/
I would check bounces from previous bases and based on this draw a new ones. So, I think I would start buying below 0.062 or even below 0.059.
Luc, I just want to thank you for all your very informative and instructional videos. As a newbie, I've learned so much from you and your approach on trading. You may just have changed my life for the better! Thanks again!
I've noticed that BTC on Coinbase is about 3% cheaper compared to Kraken. Coinbase will not give free BCC/BCH, Kraken will. Is this a indication of what BCC/BCH will be worth? About 3% of BCC? Just a thought :-)
https://coinmarketcap.com/currencies/bitcoin-cash/
That's 10%, but I really don't think that will be the price shortly after the fork. Time will show...
@quickfingersluc your training is a breath of fresh air, having seen the sensationalised traders on Youtube. As a new cryprto trader I would like to understand how you started in Crypto coming from a forex background. How long you have been in Crypto, your initial capital and starting strategie.
Luc talked about all of this in his videos. Please, watch it and you will find answers.
Where can you buy USDT?
USDT is on the exchanges.I use Bittrex
The official place to buy USDT is from https://tether.to/ . You can also exchange any crypto or USD for USDT at many exchanges like Kraken, Poloniex. Some exchanges like Bitfinex treats USD as the same thing as USDT.
Thanks again for another great video Luc, I learn something new each time and my ability to read the charts is definitely improving.
I have a quick question regarding the timeframe for any potential BTC drop due to the fork.
As of 3pm UST, the price had dropped to around 2550 and is now back up around 2700. Is this play still ongoing or do you think a much bigger drop through some of the bases is unlikely now?
If any other more experienced traders would like to answer, that would be much appreciated.
The bitcoin cash fork is fully underway but the process itself could take up to several hours or even days to complete.
As of 3.06pm BST the BTC blockchain is five blocks ahead of the BCC blockchain which is yet to produce its own currency.
“It's likely going to take at least several hours,” bitGo engineer Jameson Lopp explained in a tweet.
According to BioInc co-founder Jeff Garzik, BBC is currently mining at just over one per cent of the BTC hashrate, which means it would likely only mine one block in 24 hours
From: http://www.express.co.uk/finance/city/835226/Bitcoin-price-crash-latest-news-BCC-value-USD-Ethereum-market-live-updates
So guys, how is it going along for you?
I've sold BTC for USD a few minutes after the fork and am now basically waiting to see if the market will react in any big way.
It's also interesting to see that ETH went up this time and didn't follow BTC on the way down, at least for these first few hours after the fork.
Theater on stock; orders and alerts ready, but no drama at the moment, so waiting. This is what I am reading at the moment:
->
“However, due to a lack of support from some of the major exchanges, it looks at this stage as though Bitcoin cash will fail to gain traction.
@andreakrieger - You sold your BTC for USD? Don't you need to hold it on the exchange in order for your BCC to be created? I have bitcoin on Bitfinex now and still haven't received any BCC. Does anyone know when this will happen on Bitfinex? I'd like to take out the BTC and exchange for USDT at minimum. Any thoughts?
You won't receive any BCC until the first block is mined. That could take a while at the actual hashrate.
You can use this site to monitor the status of the fork: https://www.btcforkmonitor.info/
Thanks, that's helpful. So do I need to 'leave' my BTC on Bitfinex in order to get the BCC upon first blocks being mined? The reason I ask is because I want to move some of my BTC for trading. Any thoughts? If I start moving and trading around my BTC, I'll jeopordize my chances of getting BCC? Anyone know?
I believe you're right ... But I am no expert :)
For sure, I am keeping 99% of my BTC until that 1st block is mined and I see a BCC wallet appears on Bittrex or Kraken (the 2 exchange I use)
@dscenterprises:
On Bittrex it says: "If you have a Bitcoin (BTC) balance on Bittrex during the BCC UAHF time on August 1st, 5:20am PT (12:20pm UTC), you will be additionally credited the equivalent amount of Bitcoin Cash (BCC) on a 1:1 basis. i.e. 1 BTC on Bittrex held during the on-exchange snapshot will get you 1 BCC. "
And I did have BTC during that time, so if they respect their written statement they will credit me the BCC.
I sold my BTC for USDT because I suspect the value of buying BTC low and riding up the bounce will be greater than the value of the BCC (BCH) that I will be credited.
Personnaly, I am using some play money to do multiple buy/sell.
As of now, I am able to make 5-6% with the current swing.
But, I keep the majority of my BTC intact and safe until the first block is mined.
I saw this come by on hitbtc.com "AltTAB: BTC hard fork is over. Those of you who store BTC on your accounts, are going to receive the same amount of BCC within the next couple of hours." (AltTAB is the moderator). Haven't seen any BC cash yet.
Kraken stated on Twitter that they are now crediting BCH to accounts:
https://twitter.com/krakenfx?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor
Still nothing on Bitfinex.... :/
There wasn't enough transactions to fill the first block, and they needed >1MB to complete the first block, how crazy is that?
It took me forever to get to steemit (was being approved), but I'm finally here. Thanks Luc for getting me in the green zone of trading. As bitcoin was going down this morning the alts went up, so I sold high and bought in the dips to re-sell again. thanks again my man.
How do you guys evaluate the current price situation with bitcoin after the fork and before the first BCC block mined? Will there be any reason or chance for the big panic crash anymore or is this hope/opportunity now over? Can anybody explain what probably will happen after the first block has been mined? Is first block necessary for people to be able to sell their bitcoin and then maybe trigger the panic sell?
I just read the following lines in an article: "By now, however, fears of a sudden split by way of BIP 148 have been avoided. ... On the other hand, a miner-activated hard fork (MAHF) that will fork bitcoin is scheduled for later today." What does that mean? May this create a panic?
It is not necessary for the First block of BCC to be mined in order to sell your BTC. You can sell BTC at anytime... if you have it on an exchange like Poloniex. However, it is still unclear whether or not you need to hold your BTC on an exchange that will issue BCC in order to get it. See some of the comments above... seems like you don't need to wait... but your call.
No that's what I meant, if the people need to wait for the first block in order to be able to get BCC. Maybe that's the reason why most of the people that were hoping to get BCC did not sell BTC yet, causing the panic not to happen until now.
ah got it.... good insight. but not all people have received their BCC on exchanges. I anticipate the panic to continue once ALL BCC has been received...
Luc - your thoughts?
My BCH are In on Kraken !
:)
But you can not transact it until the first block is mined, uh? Can you sell your bitcoin now?
Will try a small amount to check
Just been able to sell a very small amount of BCH on Kraken @ 211$!
anyone have their BCH in Bitfinex????
@nervisrek There was an almost 20% dip on MTL/BTC on Bittrex on 7/31 and the scanner didn't pick up on it. Is there any reason why it might not have?
Yes I see the drop you are mentioning, around 5am UTC? I will have a look into this and thanks for spotting this. I have been doing a lot of code updates recently so might have missed one due to an update/updating.
Also, would you be interested in testing my website version of the scanner?
can you send me an email at [email protected] and i will send you the link
hello you said you were day trading while at an amusement park? what apps do you use to trade when away from your computer?
i was just using coinigy on my phone
Hi Luc! Thank you for your latest update. I wrote a piece about how to deal with your Bitcoin to get Bitcoin Cash safely. I think your readers might find it instructive.
Hi Luc and anyone one else here who could help, I'm fairly new to the crypto market but your videos have been perfect to build up my confidence to trade. I want to enter the market at £300 as a starting point and go from there, what would be the best way to start off and which coin
maybe? Really would appreciate your advice. Keep up with the vids !! @quickfingersluc
Zerohedge came out with an interesting article on a crypto whale with implications that he/she/they were strong players in the Bitcoin fork. http://www.zerohedge.com/news/2017-08-06/mysterious-trader-nearly-unlimited-bankroll-said-be-manipulating-bitcoin-price