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-   -   Ive made 200% on Bitcoin in the last 3 months ..... (https://gfy.com/showthread.php?t=1158807)

OneHungLo 01-12-2015 07:32 PM
Quote:
Originally Posted by 420 (Post 20355753)
You have to pay taxes no matter how you make money. I don't understand how that would keep you out.

I guess I was already paying that sort of taxes on stocks and such. So, it doesn't seem like a big deal to me.
The tax rate varies between short-term and long-term gains. It makes a big difference between buying and holding stock vs constantly buying and selling currencies.

OneHungLo 01-12-2015 07:38 PM
Quote:
Originally Posted by edgeprod (Post 20355763)

The "up" and "down" don't really matter -- the volatility does. What my bots do with the various currencies are they buy in at X amount, and then sell at X+Y. If it drops by Z, they sell at a stop-loss price. They then wait for the coin to drop by W (or rise by V) to buy back in, and the cycle repeats. This happens a bunch of times per day (a lot more for volatile coins, or for busy days), and the +Y adds up over the course of the day.
Ok that makes more sense. Do you ever run into issues with any limit orders being executed?

edgeprod 01-12-2015 07:42 PM
Quote:
Originally Posted by OneHungLo (Post 20355778)
Ok that makes more sense. Do you ever run into issues with any limit orders being executed?
I don't trade coins below reasonable trade volume thresholds. I manually turn them "on" and "off" in response to news (that gets them moving), etc. Basically, it's a config-level variable (an array, actually) that holds the ids of the coins I want traded.

Essentially, if I can't trade out, or can't get my limit orders executed, there's no point -- it has to be sufficiently liquid.

edgeprod 01-12-2015 07:45 PM
Quote:
Originally Posted by BlackCrayon (Post 20355766)
i know edgeprod has his own thing going on but for us idiots who can't program is there an automated tool out there to do this with? i would imagine unless you have nothing to do all day you can't sit around and watch the price constantly.
You can set limit orders on most exchanges. The only real advantage the bot has over "live" trading is that it can do it 24 hours a day (I have to sleep). The disadvantages (not as smart as a person, trades have to be much more conservative) almost outweigh the advantages, but I would MUCH rather have it "automatic" than have to constantly babysit it.

SDSimon 01-12-2015 08:21 PM
Hi edgeprod,
Do you sell your bots? Is there programing for sale?
Thanks edgeprod.
Weren't you in a ufc ring several times?

>>>WINNERS WIN because they NEVER GIVE UP!<<<

edgeprod 01-12-2015 08:45 PM
Quote:
Originally Posted by SDSimon (Post 20355812)
Hi edgeprod,
Do you sell your bots? Is there programing for sale?
Thanks edgeprod.
Weren't you in a ufc ring several times?

>>>WINNERS WIN because they NEVER GIVE UP!<<<
Not anymore (no interest last time); I do contract programming at $225/hr; you're welcome; yes -- although it's a cage, not a ring; and good quote. :winkwink:

fappingJack 01-13-2015 03:10 AM
Great. :)

Paul&John 01-13-2015 03:54 AM
haha today it seems like more of a 10% drop then 3 more drops at 10% then a raise to 8-9%.. nope raise to 5% only then a 10% drop :D

Slappin Fish 01-13-2015 06:40 AM
Quote:
Originally Posted by edgeprod (Post 20355574)
The average GFY mind cannot wrap around this, I'm afraid. I've been trying to educate people on playing the swings, but it's a lost cause.
Shame it's so tricky to short, playing the swings could be even more profitable.

nikki99 01-13-2015 06:55 AM
I think Chris Paxum put a url were to buy bitcoins time ago, if u can put that link again Chris I might be interested in using it :thumbsup

also can I start with $100 ? it is too low

uno 01-13-2015 09:20 AM
Quote:
Originally Posted by JA$ON (Post 20355514)
Its not bragging. Its a VERY, VERY simple way for anyone to make $. I though Id share.

If I wanted to brag, wouldn't I share how much Id made?
wow, it's dropped a lot since the summer.

btc is listed on XE.com for others that are curious.

Paul&John 01-13-2015 10:03 AM
Quote:
Originally Posted by uno (Post 20356480)
wow, it's dropped a lot since the summer.

btc is listed on XE.com for others that are curious.
bitcoinity.org/markets

BlackCrayon 01-13-2015 10:22 AM
Quote:
Originally Posted by uno (Post 20356480)
wow, it's dropped a lot since the summer.

btc is listed on XE.com for others that are curious.
Wow, has it ever dropped. This time last year it was over $1000 and now its $233.

edgeprod 01-13-2015 10:29 AM
Quote:
Originally Posted by Slappin Fish (Post 20356268)
Shame it's so tricky to short, playing the swings could be even more profitable.
I wasn't aware it could be shorted. Where is that happening?

uno 01-13-2015 10:50 AM
Quote:
Originally Posted by edgeprod (Post 20356560)
I wasn't aware it could be shorted. Where is that happening?
I don't know of anywhere that would allow you to short it. That would be awesome.

Slappin Fish 01-13-2015 11:00 AM
Quote:
Originally Posted by edgeprod (Post 20356560)
I wasn't aware it could be shorted. Where is that happening?
Bitfinex and Huobi. but you need BIG cojones to short a currency that can spike up so quick... bot is a must :2 cents:

xXXtesy10 01-13-2015 12:00 PM

420 01-13-2015 12:12 PM
Quote:
Originally Posted by xXXtesy10 (Post 20356649)
Maybe so but this monopoly money is accepted for goods and services. Thus, can be traded for actual money.

edgeprod 01-13-2015 12:24 PM
Quote:
Originally Posted by Slappin Fish (Post 20356582)
Bitfinex and Huobi. but you need BIG cojones to short a currency that can spike up so quick... bot is a must :2 cents:
Interesting! Never heard of 'em.


Quote:
Originally Posted by 420 (Post 20356660)
Maybe so but this monopoly money is accepted for goods and services. Thus, can be traded for actual money.
He won't get it, don't bother. Hell, there's a Bitcoin ATM right down the street from me that converts BTC to cash. LOL. Doesn't get much more "real" than that.

JA$ON 01-13-2015 05:17 PM
$222.35 Back in

candidpro 01-13-2015 11:50 PM
looking at the chart it doesn't look like its had a 10% upswing all week??

and the price keeps falling so you'll loose money buying low thinking it will swing up and doesn't.

http://i59.tinypic.com/o7qeys.jpg

420 01-14-2015 12:10 AM
Quote:
Originally Posted by candidpro (Post 20357262)
looking at the chart it doesn't look like its had a 10% upswing all week??

and the price keeps falling so you'll loose money buying low thinking it will swing up and doesn't.

http://i59.tinypic.com/o7qeys.jpg
You're zoomed in too far. Jan 4 - Jan 7 was the last time it happened. It will pop as long as it holds above 200. :2 cents:

TampaToker 01-14-2015 12:17 AM
come on dip down below $200 :)

420 01-14-2015 12:25 AM
hit 160 @ bitstamp

Paul&John 01-14-2015 12:40 AM
Quote:
Originally Posted by 420 (Post 20357275)
You're zoomed in too far. Jan 4 - Jan 7 was the last time it happened. It will pop as long as it holds above 200. :2 cents:
Yeah it happens here and there, but if you bet on every 10-20% drop then you'll easily loose money on the long run.

edgeprod 01-14-2015 12:49 AM
In at $160, arbitrage between stamp and -e is printing money like a mint right now! $20 difference! This should be illegal.

420 01-14-2015 12:51 AM
Quote:
Originally Posted by Paul&John (Post 20357304)
Yeah it happens here and there, but if you bet on every 10-20% drop then you'll easily loose money on the long run.
I agree. You must put some thought into it rather than buying every time it drops.

Paul&John 01-14-2015 01:14 AM
Quote:
Originally Posted by edgeprod (Post 20357315)
In at $160, arbitrage between stamp and -e is printing money like a mint right now! $20 difference! This should be illegal.
Yes but there was no way to tell that it would raise back to $180.. according to this logic you guys had to buy in at $185 (when it dropped from $208) instead of $160 and then you would loose money..

420 01-14-2015 01:27 AM
Quote:
Originally Posted by Paul&John (Post 20357324)
Yes but there was no way to tell that it would raise back to $180.. according to this logic you guys had to buy in at $185 (when it dropped from $208) instead of $160 and then you would loose money..
He is talking about sending coins from one exchange to another exchange that has a $20 higher sell price.

But, you're right. Nobody knew if it would bounce back from 150-160 range or keep going down. You have to get as much information as possible to decide when to buy. Like all currency trading it is high risk.

Paul&John 01-14-2015 01:33 AM
Quote:
Originally Posted by 420 (Post 20357329)
He is talking about sending coins from one exchange to another exchange that has a $20 higher sell price.
ah yeah, I missed that part, sorry :)

nikki99 01-14-2015 05:24 AM
Quote:
Originally Posted by JA$ON (Post 20357005)
$222.35 Back in
no link for me?

beenthereb4 01-14-2015 09:38 AM
Quote:
Originally Posted by JA$ON (Post 20355525)
DEFINITION OF 'COMPOUNDING'
The ability of an asset to generate earnings, which are then reinvested in order to generate their own earnings. In other words, compounding refers to generating earnings from previous earnings.



I hope you;re not doing your own taxes, lol
Yea and I hope everyone doesn't believe all the bullshit you post without proof :1orglaugh

edgeprod 01-14-2015 10:16 AM
Quote:
Originally Posted by Paul&John (Post 20357342)
ah yeah, I missed that part, sorry :)
To be fair, I used some industry-specific lingo. I stayed up as long as I could keep my eyes open, buying around $160 on stamp and selling around $180 on btc-e. What a fuckin' night. Gonna reward myself today.

hadden 01-14-2015 10:16 AM
Nearly buying time again :)

420 01-14-2015 11:47 AM
That was exciting. Too tired to think straight today.



Quote:
Originally Posted by beenthereb4 (Post 20357738)
Yea and I hope everyone doesn't believe all the bullshit you post without proof :1orglaugh
http://3.bp.blogspot.com/_Sz8PisWOoT...an+brother.jpg

JA$ON 01-14-2015 11:57 AM
Quote:
Originally Posted by beenthereb4 (Post 20357738)
Yea and I hope everyone doesn't believe all the bullshit you post without proof :1orglaugh
I posted about making $ from BTC's volatility. Its dropped and gone back up over 10% a couple times in the last 24hrs, proving my point once again. I posted to give people a little insight, a way to make money if they so choose. Im not posting to show off to a bunch of (for the most part) strangers.

Its your $, do what you like with it. I like making more and more every chance I can from as many different avenues as possible.

edgeprod 01-14-2015 12:11 PM
Quote:
Originally Posted by 420 (Post 20357879)
That was exciting. Too tired to think straight today.
Holy shit, right? I might need a nap ...

http://reactiongifs.me/wp-content/up...-money-bed.gif

Joshua G 01-14-2015 12:26 PM
Quote:
Originally Posted by edgeprod (Post 20357315)
In at $160, arbitrage between stamp and -e is printing money like a mint right now! $20 difference! This should be illegal.
damn so your a programmer & also arbitrage bitcoin spreads...impressive.

:)

edgeprod 01-14-2015 12:43 PM
Quote:
Originally Posted by Joshua G (Post 20357929)
damn so your a programmer & also arbitrage bitcoin spreads...impressive.
I've been doing arbitrage on the coin-based markets for a couple of years now. It was a "wild west" scenario in the early days, but crazy nights like last night are much scarcer lately.

candidpro 01-14-2015 02:04 PM
Quote:
Originally Posted by JA$ON (Post 20357889)
I posted about making $ from BTC's volatility. Its dropped and gone back up over 10% a couple times in the last 24hrs, proving my point once again. I posted to give people a little insight, a way to make money if they so choose. Im not posting to show off to a bunch of (for the most part) strangers.

Its your $, do what you like with it. I like making more and more every chance I can from as many different avenues as possible.
the problem is it's a steady decline so if it doesn't spike enough to sell you end up loosing money. I would jump in if it was staying somewhat steady or going up, guess it's more of a gamble right now :/


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