• Australian (ASX) Stock Market Forum

Hello and welcome to Aussie Stock Forums!

To gain full access you must register. Registration is free and takes only a few seconds to complete.

Already a member? Log in here.

Bitcoin and cryptocurrency trading thread

Discussion in 'Forex and Cryptocurrencies' started by greggles, Dec 14, 2017.

  1. noirua

    noirua

    Posts:
    9,682
    Likes Received:
    331
    Joined:
    Feb 2, 2006
    Lionsgold have now bought a 12.5% stake in RailsBank for £1.25m (AU$1.6m).
    Lionsgold, LION CEO Cameron Parry plans to co-invest £125,000 in Railsbank for 1.25% on the same terms as the Company and TRAC Technology CEO Ralph Hazell plans to co-invest £50,000 in Railsbank for a 0.5% equity stake.
    https://uk.advfn.com/stock-market/l...mited-Proposed-Investment-Goldbloc-B/76502242
     
  2. mjim

    mjim

    Posts:
    145
    Likes Received:
    9
    Joined:
    Jun 6, 2016
    Yes heard that by the way the CBOE Futures contract is based on GDAX? becasue TT talks about a synthetic arb spread!
     
  3. satanoperca

    satanoperca

    Posts:
    1,629
    Likes Received:
    576
    Joined:
    Jan 6, 2009
    Ouch, but for all the believers in crypto currencies good luck, just hold, surely it will bounce back.
     
  4. brty

    brty

    Posts:
    951
    Likes Received:
    139
    Joined:
    Mar 5, 2008
    On the 15th of December I wrote the following...

    "On the topic for a change, my SIL that has not a clue about markets asked me about Bitcoin today. This is a red flag for me as the only other investment she has ever made was buying Telstra at $9 totally against my advice, because her best friend told her to.
    When the mania has reached the level of non investing people, there are not many suckers left."

    In the 6 weeks since then, the main crypto I follow, Ripple, went from about $1 to 90c, then boomed up to $4.80, now back to $1.02 as of right now.
    Bitcoin, worth over $A23,000 is now $A10,690.

    Since the middle of December there have been quite a few requests from punters wanting to know which is the best place to buy coins/trade coins on this thread.

    For me a 'currency' is something that tends to hold its value and is widely exchanged for goods and services.
    A few weeks ago there was a story of a person in Melbourne that accepted Bitcoins in exchange for the sale of a property. Bitcoin was trading at around $A18,000 at the time.
     
    CanOz and Faramir like this.
  5. notting

    notting

    Posts:
    3,696
    Likes Received:
    315
    Joined:
    Oct 1, 2008
    That guy was a Chinese fuc$ trying to avoid capital gains by selling the gains in crypto, He wasn't selling the whole house for Cryptos.
     
  6. moXJO

    moXJO menace to society

    Posts:
    5,905
    Likes Received:
    1,822
    Joined:
    Aug 15, 2006
    Stupid ripple.
    20 cents more and I would have been all out, driving away in my Ferrari. Now all I can afford is a lowly Mercedes.
    Ferrari make a family sedan, right?
     
  7. tech/a

    tech/a No Ordinary Duck

    Posts:
    19,215
    Likes Received:
    3,212
    Joined:
    Oct 14, 2004
    Some very clever people on this site!
    Thanks for sharing!

    Seriously considering some more Ripple.
     
    notting and explod like this.
  8. notting

    notting

    Posts:
    3,696
    Likes Received:
    315
    Joined:
    Oct 1, 2008
    It was a very interesting night of trading.
    The cryptos had 'the everything,' including the kitchen sink, tossed at them by the media and establishment.
    Then, of course, whilst the Super Bowl is on, time for a spanking by the manipulators.
    Then, the yanks woke up, they started buying it back up to the recent support level, before the entire financial system looked to correct, for the first time since 2016.
    During that frenzy the cryptos had recovered what looked like may have been a dot com crash and held their ground.
    Maybe, there is something technical in that.
    I think 10 years on from the financial crisis it's unlikely that people were seeking cryptos as the alternate place for their cash whilst the market tipped over.
    The theme is blurry, it really should have been 'the end' of the bit coin.
    Perhaps it's just that it's a small enough market for the Illumitardies to be able to maintain their belief in it and thus keep it going.
    Just going to be trading on the frenzy unless someone has a better idea!
     
    explod likes this.
  9. moXJO

    moXJO menace to society

    Posts:
    5,905
    Likes Received:
    1,822
    Joined:
    Aug 15, 2006
    All you can trade on is the fear and greed scale. And we must be moving from the fear bottom soon. Not much news about.

    I jumped on some ripple ($1). Based on nothing much but feel, my star sign and a spare 10 k.
    Either going to lose $2k or make $5k.
    Still holding the bulk of my other coins.
     
  10. moXJO

    moXJO menace to society

    Posts:
    5,905
    Likes Received:
    1,822
    Joined:
    Aug 15, 2006
    Actually there is a few good news stories of xrp coming out.
     
  11. CanOz

    CanOz Home runs feel good, but base hits pay bills!

    Posts:
    11,531
    Likes Received:
    486
    Joined:
    Jul 11, 2006
    Chart of the more popular "coins" and relative performanceBTC LTC ETH XRP.PNG
     
  12. CanOz

    CanOz Home runs feel good, but base hits pay bills!

    Posts:
    11,531
    Likes Received:
    486
    Joined:
    Jul 11, 2006
    B67EF4C4-8ABF-4562-BC7B-EE938D23E87E.jpeg Interesting.....
     
    notting likes this.
  13. notting

    notting

    Posts:
    3,696
    Likes Received:
    315
    Joined:
    Oct 1, 2008
    Behaving like a high risk asset should.
    What was interesting to me, was that the crypto capitulation preempted the US melt down and was stable to positive the whole way through the real price action.
    Thre other events to note, Super Bowl distraction, Trump memo and most importantly the 10 year yeild went up through 2.80 which is when the market really took a pounding.
     
    CanOz and explod like this.
  14. notting

    notting

    Posts:
    3,696
    Likes Received:
    315
    Joined:
    Oct 1, 2008
    It's consistent with the theory that Bitcoin is completely manipulated now, it was tanked on low volumes whilst the US was distracted by the above and before the US woke up then bought all the volume selling as US kicked into gear. Pattern has been confirmed again!
     
    explod likes this.
  15. CanOz

    CanOz Home runs feel good, but base hits pay bills!

    Posts:
    11,531
    Likes Received:
    486
    Joined:
    Jul 11, 2006
    I'm more curious about how this contagion is intertwined and where the flows are going...m
     
  16. notting

    notting

    Posts:
    3,696
    Likes Received:
    315
    Joined:
    Oct 1, 2008
    Well I gave one theme.
    Europe has been the buzz word and so flows to Euro, hence week US$.
    Great time to repatriate cash however, good move USA USA.
    If rates at 2.8 are worthy of a 666 spanking WTF! Taper tantrum?
    I don't know getten a leg over 5 is normally a little more appropriate.
    Unless everyone is sickly OVER LEVERAGED :D
    disclaimer - this isn't really a post, I'm just thinking out aloud.
     
    explod likes this.
  17. waterbottle

    waterbottle

    Posts:
    218
    Likes Received:
    18
    Joined:
    Nov 3, 2013
    I agree. There was $800 billion USD invested into the crypto market at its peak in Jan 2018, according to coinmarketcap.com. That money needs to come from somewhere, and if some were using credit cards to fund their purchases, with others selling their investment properties, it wouldn't surprise me if equities were being sold off to do the same.
     
    CanOz likes this.
  18. scholesy

    scholesy

    Posts:
    23
    Likes Received:
    9
    Joined:
    Feb 21, 2014
    There is a shocking amount of arbitrage available in the crypto exchanges from what I've seen. But requires deep pools of capital, excellent risk management (converting to fiat as soon as possible and not holding the bag when the market drops 20% overnight) and accounts at multiple exchanges (includes decentralised ones). By any chance, are you referring to Star Beta? They seem to be the only legit shop in crypto. But they are only doing crypto futures based on their website.
     
  19. tech/a

    tech/a No Ordinary Duck

    Posts:
    19,215
    Likes Received:
    3,212
    Joined:
    Oct 14, 2004
    The BIG holders in Crypto Currencies have been for Years
    So these fluctuations are only hitting those who are just
    hitting the scene. Sure there are some who have put the house on
    it and lost heaps but don't think there is half the population
    selling everything to keep the PPR.

    Personally I think many are missing this point and rubbing their hands with glee as
    Bitcoin drop 50%.
    These guys with Billions frankly don't give two hoots about 1 billion or $500K.
    They wouldn't spend it anyway they are geeks who look at money a whole
    lot differently to most of us.
     
    scholesy likes this.
  20. brty

    brty

    Posts:
    951
    Likes Received:
    139
    Joined:
    Mar 5, 2008
    Waterbottle, this statement shows a lack of understanding of markets.....

    "There was $800 billion USD invested into the crypto market at its peak in Jan 2018, according to coinmarketcap.com. That money needs to come from somewhere"

    The Market Cap of all the cryptos was $US800b, definitely not the amount of money invested in it. When the price fell, it was just because there were more eager sellers than buyers. A couple of hundred million dollars worth of trades could have reduced the overall Market Cap from the $US800b to $US300b.

    I actually have no idea of the volumes traded, but a $US500b or whatever the reduction was in total MC certainly does NOT mean that much came out of the market.
     
    cynic likes this.
Loading...

Share This Page