Bitcoin exchange rate discussion

Interesting, the price seems to have started climbing, it was up to $293.50/coin as of a few seconds ago. I remember when it was around $330/coin and I thought that was around where the price would bottom out, I could not have been more wrong about that I guess.

LTC seems to be doing better than just about anything right now (aside from BTC). Has been for the last several months that I've been watching it actually. With DRK trailing shortly behind it in value.

DOGE is apparently practically worthless at this point. Not sure why the value of it is so low, but then it's not one of the one's I've been looking at all that much.

ivanlabrie said:

I have a buy reccomendation for Bitcoin, holding time is a month or two at least.

https://www.tradingview.com/chart/BTCUSD/5jEOt5qS-BTCUSD-Potential-rally-ahead/

The chart is for Bitstamp. Idea is buying Bitcoin now, risking it can depreciate 9% (if it hits 219 you'd have to exit since the forecast would be invalid) but with potential upside of 30 to 62%.

Price for entry is 244-46, or any dip as long as above 232.08. (Bitstamp quotes)

I'll take this one, probability of hitting 30% gains is 65%, of hitting 62% 50/50.

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This.
Also posted a Litecoin buy reccomendation at 3usd. It hit 8 bucks.

https://www.tradingview.com/chart/LTCUSD/NQhrBg8J-LTCUSD-Potentially-a-very-exponential-rally/

Hope someone took these.

- - - Updated - - -

One more thing, you can play a spread trade.
You buy equal amounts of bitcoin and litecoin, and sell a percentage of each when one outperforms the other.
That's a good investment strategy too.
Example, you buy btc and ltc, btc at 244 like I suggested, ltc at 3. LTC hits 8 but btc didn't go up as much, you sell some ltc and buy the same amount in btc.
Once btc climbs a bit more (like it did), you sell some btc and rebuy ltc once it drops.
Rinse and repeat.

---Update:

I suggest cashing out (partially or in full) if you bought near 244, it might retrace and head back to that region or lower soon.

I wish you were correct Overmined, and Welcome to the Forum!

overmined said:

I know I am correct and thank you, I appreciate it!

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Strong words and confidence in something currently unpredictable.
Hi, I'd be careful before betting my savings on something blindly. A portion that we can afford to lose is ok.

Do you trade BTC or just invest and hold?

https://www.tradingview.com/chart/BTCUSD/W5vr2Ji2-BTCUSD-Bulls-in-danger/

I'm really sad to be right again...If we drop under 246-236, we might retest 150, or even dip to 90.
I had bought btc (needed to, didn't have a choice), bad timing.
Now trading stocks at 1broker.com, but since the account is base BTC, I'm not sure it'll be worth it to continue and risk BTC losing value this drastically.
I'll have full confirmation of the nature of the crash in a week. We might get a good buying opportunity soon.

ivanlabrie said:

https://www.tradingview.com/chart/BTCUSD/W5vr2Ji2-BTCUSD-Bulls-in-danger/

I'm really sad to be right again...If we drop under 246-236, we might retest 150, or even dip to 90.
I had bought btc (needed to, didn't have a choice), bad timing.
Now trading stocks at 1broker.com, but since the account is base BTC, I'm not sure it'll be worth it to continue and risk BTC losing value this drastically.
I'll have full confirmation of the nature of the crash in a week. We might get a good buying opportunity soon.

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Don't say that and it won't happen

Sad to see BTC in this state..

Silver_Pharaoh said:

Don't say that and it won't happen

Sad to see BTC in this state..

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I'm holding my btc and trading to accumulate more, since it serves as a hedge vs the peso devaluating vs the dollar (yes, it devaluates faster than btc!).

The good thing about this impending horrific decline is we might be able to buy them cheap before the price reverses.
I estimate that this year we might see a big rally in gold and Bitcoin, but only after the euro bottoms at 1-0.80usd per euro and gold at 1000-800.

After this we might see a surge that might last until December, strong and violent rally against the dollar. Long term, I'd try to get rid of anything for the dollar, since it's highly likely to see a stock market crash and a deflationary crisis (dollar overpowering everything, in the world, for years). This is terrible news, but it's where we're headed, globally.

China started devaluating the yuan, stocks will rally till the end of the year, then, violent crashes everywhere.
Smart thing to do is to invest in different assets, like buying S&P500/Dax/exchanging any foreign currency for dollars/selling gold for dollars NOW/maybe keep a 10% in physical gold/silver/bitcoin/ethereum?/bitshares?.

After the euro bottoms we can exchange dollars for euros and see it rally to 1.5-2usd (from 0.8-1-1.06, possible bottom price).

If anyone's interested and has some savings to invest I can give reccomendations to forum mates. (I'm working as an advisor actually)

I'm trading my personal acct at 1broker.com, I can vouch for them. If you sign up (use my referral, won't hurt ) you can trade stocks, commodities and currencies funding it with Bitcoin, with no paperwork or hassles.

--------------

Sidenote: Ethereum mining is really profitable! Anyone into it yet?

overmined said:

BTC will only keep on increasing!

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But this guy said it would only increase! WTH?!?! LOL

Blaylock said:

But this guy said it would only increase! WTH?!?! LOL

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We can't toss blanket statements at the market and expect them to be fulfilled.
That goes for my predictions as well...why it's so hard to advise people without actively managing the funds yourself. Have to be open to invalidate scenarios quickly and go the other way if proved wrong.

Ethereum is picking up steam, I'm mining atm, and might get into trading it at poloniex. Looks pretty good so far.
You got any?

No I'm out of the market for the time being. When things start to pick up again I'll probably get back into buying and selling. I need to see some SIGNIFICANT signs that it's coming back though, not just a random poster stating it's coming up again. I need something more credible.

ivanlabrie said:

Sidenote: Ethereum mining is really profitable! Anyone into it yet?

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Not yet, but I'll definitely be looking into it. Most of the last month, I've been flogging Quark at Westhash @ 125mhs total for the whole farm.

Blaylock said:

No I'm out of the market for the time being. When things start to pick up again I'll probably get back into buying and selling. I need to see some SIGNIFICANT signs that it's coming back though, not just a random poster stating it's coming up again. I need something more credible.

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Check out ethereum, the trading at poloniex is very liquid and good volume. Not sure how long it'll last but it's worth a shot.

Oklahoma Wolf said:

Not yet, but I'll definitely be looking into it. Most of the last month, I've been flogging Quark at Westhash @ 125mhs total for the whole farm.

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Quark? How much was that paying?
I'm mining with 4 270s atm, will add more rigs asap.
(I used to manage a farm for some big cat...he still has most of the 270s and H81 pro btcs with ram, psus, risers and cpus. Got rid of all 280x and 290s though)

Quark was doing 0.07 BTC a day with my farm when I got into it... four Pitcairns, eight Tahitis. It was extremely profitable. Added one more 7970 with those profits (and bought about 350-400 XMR for dirt cheap) which added 13mhs, right now it's down to about 0.03 BTC a day. Still the most profitable algorithm for my farm that I know of, except maybe Etherium.

And on that note, I looked into Ethereum... honestly, mining it looks like a massive headache to deal with. I can see myself trading with it, but I just don't know about mining it. Especially since the rigs are still Windows based.

Oklahoma Wolf said:

Quark was doing 0.07 BTC a day with my farm when I got into it... four Pitcairns, eight Tahitis. It was extremely profitable. Added one more 7970 with those profits (and bought about 350-400 XMR for dirt cheap) which added 13mhs, right now it's down to about 0.03 BTC a day. Still the most profitable algorithm for my farm that I know of, except maybe Etherium.

And on that note, I looked into Ethereum... honestly, mining it looks like a massive headache to deal with. I can see myself trading with it, but I just don't know about mining it. Especially since the rigs are still Windows based.

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Oh, it's super simple actually, problem is they don't want you in...they make it absolutely non-coder hostile.

I have a guide that is easy, and a guide to send coins to exchanges (yes, it's hard and if you're not a coder you're lost. luckily a friend helped me with it):


Follow those steps, mostly to get the wallet up and running.
Then go to the folder where ethereum was installed and find the ethminer.exe file (I think that part isn't mentioned, WHERE to find the file lol).
Once you got that far, you simply copy the ethpool.org bat file content (it's in their page) and change the address and hashrate description to match yours and you're mining!

Sending coins:

1. start cmd with "run as administrator" and go to geth.exe dir and type geth.exe --rpc
2. start another cmd with "run as administrator" and type geth attach
3. then type : personal.unlockAccount('yourwalletaddress', "yourpassword")
4. exit
5. geth --exec "web3.eth.sendTransaction({from: 'yourwalletaddress', to: 'reciveraddress', value: web3.toWei(1, 'ether'), gas:21000});" attach

That will send 1 ether, change 1 for the desired amount and change wallet address ofc.

That shouldn't be too hard, as long as I can get the two dedicated machines mining it. Four 270s and six 7950/280X. Looks like I need to do about 4-5 ETH a day to top what Quark is doing right now.

Edit - I think I got the two beasts mining now. 130mhs for the six card rig, 90mhs for the four card. Was a pain and a half to get this working, as the miner only seemed to show one card being recognized, but using -t to specify number of devices seems to be doing the trick.

I'll run this for a day and see what happens.

Oklahoma Wolf said:

That shouldn't be too hard, as long as I can get the two dedicated machines mining it. Four 270s and six 7950/280X. Looks like I need to do about 4-5 ETH a day to top what Quark is doing right now.

Edit - I think I got the two beasts mining now. 130mhs for the six card rig, 90mhs for the four card. Was a pain and a half to get this working, as the miner only seemed to show one card being recognized, but using -t to specify number of devices seems to be doing the trick.

I'll run this for a day and see what happens.

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*Watches intently*
Hope it works out, I still wanna mine

5.5 hours in, one block, 5 ETH according to etherchain. So far so good - that's already a full day's worth of profit in Quark. And because I set up one account per machine, I know the four card rig bagged it - three 280X and one 4GB 270X on that one.

Edit - both machines have now found a block each at 7 hours.

Oklahoma Wolf said:

5.5 hours in, one block, 5 ETH according to etherchain. So far so good - that's already a full day's worth of profit in Quark. And because I set up one account per machine, I know the four card rig bagged it - three 280X and one 4GB 270X on that one.

Edit - both machines have now found a block each at 7 hours.

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Excellent, glad to help you guys profit.
Another big tip: lend btc at poloniex now.
I'm getting 1.49% per day...

Had a couple hiccups with ethminer overnight... the six card rig stopped mining, then bluescreened when I tried to start it again. I have a feeling I know which card is causing that. Might have to pull it temporarily - it's a Pitcairn, so no big loss. Everything was running super hot due to no fan control, so I got SGMiner working on Westhash, disabled all the GPUs and the pool, and used it for fan control while I started up ethminer again.

Seemed to work well, so I stopped mining on the four card machine to do the same there... that's when it went down like the six card rig did. Restarted, fired up ethminer again, no further problems yet.

Even with SGMiner controlling fan speeds, these cards are barely staying under 70 degrees. All of them are downclocked and downvolted. Ethminer hits 'em hard, it seems.

Oklahoma Wolf said:

Had a couple hiccups with ethminer overnight... the six card rig stopped mining, then bluescreened when I tried to start it again. I have a feeling I know which card is causing that. Might have to pull it temporarily - it's a Pitcairn, so no big loss. Everything was running super hot due to no fan control, so I got SGMiner working on Westhash, disabled all the GPUs and the pool, and used it for fan control while I started up ethminer again.

Seemed to work well, so I stopped mining on the four card machine to do the same there... that's when it went down like the six card rig did. Restarted, fired up ethminer again, no further problems yet.

Even with SGMiner controlling fan speeds, these cards are barely staying under 70 degrees. All of them are downclocked and downvolted. Ethminer hits 'em hard, it seems.

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Why not afterburner for fan control?
Glad to hear it's working, sounds really good