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How much do you know about Bitcoin?


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How much do you know about Bitcoin?

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  #41 (permalink)
 shokunin 
Manchester, United Kingdom
 
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Posts: 42 since Jul 2020
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I learnt to trade on Crypto and my first trade was Bitcoin.

I moved to futures to avoid Exchanges failing under load, massive slippage and exorbitant commissions.

Currently I trade ES. But now MBT is here, I may trade Crypto again!

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  #42 (permalink)
 KevinB 
Louisville, KY
 
Experience: Beginner
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shokunin View Post
I learnt to trade on Crypto and my first trade was Bitcoin.

I moved to futures to avoid Exchanges failing under load, massive slippage and exorbitant commissions.

Currently I trade ES. But now MBT is here, I may trade Crypto again!

I think crypto has brought a lot of people into trading who later recognized the inadequacies of exchanges and have since moved to traditional assets. Bitcoin will never see real institutional adoption until exchanges can handle high transactional volumes. The flash crash this week - which was arguably much deeper than it "should" have been because liquidation engines got bogged down and exchanges essentially shut down for 1-2 hours because they couldn't handle the volume, resulting in what was essentially a "sell only" market - was strong evidence that the rising derivatives vs spot volume has created a systemic risk to the market. There is also the lingering question of whether or not some exchanges use "platform degradation" to manipulate price. Bitmex almost certainly did. This is likely one of the things that will have to be rectified in order for the SEC to ever sign off on an ETF.

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  #43 (permalink)
 jokertrader 
NYC, NY
 
Experience: Intermediate
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Some of these things will never be done even though they might show that they have done something. good luck in having a true audit from a US Govt agency on foreign soil or business


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  #44 (permalink)
 KevinB 
Louisville, KY
 
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jokertrader View Post
Some of these things will never be done even though they might show that they have done something. good luck in having a true audit from a US Govt agency on foreign soil or business

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Agreed. But if they don't, the industry won't scale. What I also don't know is how governments will handle compliance for decentralized exchanges. That's an entirely different beast for which there is no precedent. And those will involve non-crypto instruments as well. The current DEXs in development are being built to handle trading of tokenized versions of forex, futures, stocks, everything.

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  #45 (permalink)
 Sandpaddict 
Langley
 
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I've owned some and transacted with it but never "traded" it.

If I WAS into speculating on crypto and I had enough to average down quite a bit I would probably be scooping up the strongest shitcoins that tanked along with Bitcoin right now.

Just my 0.0000004982 Bitcoin. (Dosen't have the same ring to it as... just my 2 cents does it? Lol)

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  #46 (permalink)
 jokertrader 
NYC, NY
 
Experience: Intermediate
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KevinB View Post
Agreed. But if they don't, the industry won't scale. What I also don't know is how governments will handle compliance for decentralized exchanges. That's an entirely different beast for which there is no precedent. And those will involve non-crypto instruments as well. The current DEXs in development are being built to handle trading of tokenized versions of forex, futures, stocks, everything.



Itís a complicated mess for sure and one that I hope the govt agencies take their time in figuring out (selfishly speaking)


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  #47 (permalink)
 Virtuose1 
Montreal, Qc, Canada
 
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Big Mike View Post
New poll:



Please vote & discuss!

This poll idea courtesy of @SMCJB. Have an idea? Please post it here:



Mike


1. My advice, do yourself a favor, be curious and take the time to learn what it is. Read "The Bitcoin Standard", "The Little Bitcoin Book", the Bitcoin Whitepaper, etc
2. My main takeaway: this is pure genius: Economical (Fixed/known supply, halving, etc), technological (cryptography, POW, etc), governance (decentralized, open source, etc)
3. While it is volatile and carry some risks, no rationale reason not to allocate some % of portfolio considering risk vs reward and diversification (non-correlated asset). Should not invest more than prepare to lose.
4. For most it is sup-optimal to trade an asset that has so much upside potential. Better to simply buy and hold.
5. No shortcut: those that don't do step #1 and only buy because "the price goes up" or "someone told them this is a great buy", will sell at lost when the price goes down.

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  #48 (permalink)
 jokertrader 
NYC, NY
 
Experience: Intermediate
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Bitcoin possible Death cross and unbiased TA
He looks at different possibilities

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  #49 (permalink)
scalpex
Lisbon, Portugal
 
 
Posts: 1 since Jun 2021
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I made a bitcoin prototype at uni, a lot of fun and I learned a lot about blockchain!

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