SyntaxBomb - Indie Coders

This chart by Woonomic is interesting, the green dotted line matched with past tops, so in theory you'd keep looking at it to see when the market price (noisy grey line) touches it again: 
http://charts.woobull.com/bitcoin-price-models/

i just want to share some more understanding about cryptos :


about coins and tokens :
-a 'coin' has its own protocol, ledger, network
for example : btc, bch, xmr, eth, bnb, doge

-a 'token' is created and work using another protocol, ledger, network which supports that (erc20 tokens on the ether chain, bep20 tokens on the binancesmart chain, etc...)
for example :
'stablecoins', which should rather be called 'stabletokens' which are tokens which follow the value of a fiat currency like the USD or EUR, popular stables are : USDT, USDC, BUSD, TUSD, PAX, DAI...
or
a token with their own rules / functionalities but which use an existing blockchain UNI, CAKE, LINK, SHIB

in any case, your coins or tokens are always stored onn the decentralized ledger of the protocol (stored using the 'blocks-chain' technology and the internet, splitted in different parts worldwide)


about addresses, privatekeys, recoveryseeds, wallets, exchanges :

-an address is the equivalent of a bank account number (IBAN)

-a privatekey is the equivalent of a password / pincode which allows the owner to send units to another address, but only the address is necessary to receive units.

-a recoveryseed is a list of words (usually 12 or 24) which allows the owner to recover a privatekey
you can share your address publicly but you have to keep your privatekey or recoveryseed private.

-a wallet is a software / hardware to manage your address and privatekey to be able to receive and send units on the protocol / network / blockchain.

-an exchange is a company (with a website and an app) in which you can open an account to be able to convert fiat to crypto, crypto to fiat, crypto to crypto (and crypto to stable, stable to crypto)
some wallets also allow you to do these convertions using protocols / networks like the ether chain, the binance smart chain, etc...)


what makes a coin / token valuable (imo) :
-functionalities / use-cases
-decentralization of the development of the protocol, of the handling of transactions, of the storing of the ledger
-counterparty when a coin is created (for 'proof of work' coins the counterparty is energy and computing power), this is to prevent 'magic money creation' (like fiat)
there is a lot of speculation concerning the value of 'proof of stake' coins, some are clearyl 'shitcoins' (scams) but some have some value because there offer some functionalities / use-cases that older POW coins don't offer, like protocols that allows the creation / transfer of custom tokens like stables or 'programmable money'.
-max supply or slight increase of the supply (to not become like fiat)
-anonymity or pseudoanonymity
-open source of the protocol / wallets
-distribution of the coins not too centralized


be careful of hype and fud, good luck

The BTC (Bitcoin Core) asset is now one of the local currencies of El Salvador. Hooray!

Hey gents, everybody buckled up for this second major wave of this 2020 bull cycle?

Hey Kryzon

personaly i am not sure what will happen...

there are still a lof of 'whales' (owners of many coins) in the markets, even for bitcoin core (btc), and they can dump a lot of coins at any time...
https://insights.glassnode.com/content/images/size/w1000/2021/01/sup-1.png

'tapering' is coming from the FED and ECB, the evergrande debts implications are not clear...

personally, i took the bet to not buy anymore in 2021 (i invested mostly in 2019-2020), and to sell progressively, and i hope for a future crash and bear market.

we will see...

good luck with your investments

@Remid I'm fascinated by intraday trading (aka day-trading), building wealth out of lucky trades.
It's sort of like a casino, but with slightly better odds (you can make informed guesses, but ultimately if price suddenly dumps, that's out of your control).

Very short timeframe, like under 30min.

The good part is that because of the short timeframe, where we are in the market (bull trend, bear trend) doesn't really matter, just the local support levels. The bad part is that the risk is very big, like flipping a coin...

@Kryzon>>yes i did some experiments with day trading... you can easily make 1% or more per trade when the trend is sideways or bullish , but if the trend is bearish, the bet is locked and you can lose money.
one bearish news is enough to produce a bearish trend, so it is rather risky.

in any case, make sure to trade a coin (pair) on an exchange with enough trading volume, or it may take too much time for a big sell order to be completed...

Quote from: RemiD on November 09, 2021, 08:00:40
@Kryzon>>yes i did some experiments with day trading... you can easily make 1% or more per trade when the trend is sideways or bullish , but if the trend is bearish, the bet is locked and you can lose money.

1% per trade ? Even if this is "after fees" it is a bit ... uhm... yeah. I always try to make 3-5% when "short frame" and 5-10% when the trade can wait for 1-2 days. Every longer time span will be done in a way that I sell (some) owned coins for +20% or more to current rate and buy if rate has fallen by 20%.

Some exchanges like binance do not offer "sell for X and once this is done auto place an order to by the same amount back for Y". Used this on bitstamp  but their fees...are enormous. It is quite useful for coins having "spikes" ... it jumps by 60% and falls down again to original value within minutes. I then have sold by +20%, +40% and bought them back when reaching their "+20% win" value. Of course some trades then are "minus" (rate has fallen further) but you still gained some eg BTC or USD/EUR/USDT which you could spend elsewhere.

On bear market you need to buy the dips and sell when reaching enough percents. You always need to adjust the "dip value" - you wont buy a slow degreasing coin. You want only to buy "dips" (when it is falling in a short amount of time).

With binance and others you need to do that with their API and own scripts I think. They surely do not offer certain "buy/sell methods" by intent.




Am not holding too much coins - did not invest "new" money since my last post here. Yet of course the value of my investment increased since then: BTC has raised (during the "drops" I increased my BTC value by selling some high and buying some low) yet I stil have 4 orders to "buy back" my BTC at a lower (10%) price than when sold.
I still trade most coins against BTC (but currently not invested in them because of waiting for dips there - or indicators of potential spikes after declinated exchange rates). Still trading a bit Dogecoin vs USDT (but 90% of my orders wait in the original positions --- I sold a lot of DogeCoins before it exploded ... more than 100k as I surely mentioned already). Also own some SHIB ... think there might be a second "pump" somewhen - but only holding "free coins" which I generated by some simple trade during the "bounces" after the first pump.

All in all I am still not talking about a big fortune ... am far far far far away from 1 BTC (now )).


bye
Ron

Quote1% or more

but if it was that easy, everybody would be a millionaire...


i still have some btc, bch, xmr, and i plan to buy some more btc, maybe some eth, bnb, sol, trx, in a future bear market...

Quote from: RemiD on November 09, 2021, 20:36:02

Quote1% or more

but if it was that easy, everybody would be a millionaire...

You know - if you loose money, someone else wins it


bye
Ron

@Derron any suggestion on indicators and oscillators that you use?

Right now I use these on TradingView:
- SuperTrend (by KivancOzbilgic): https://www.tradingview.com/script/r6dAP7yi/
- Squeeze Momentum (by Lazybear): https://www.tradingview.com/script/nqQ1DT5a-Squeeze-Momentum-Indicator-LazyBear/
- TDIM (by Goldminds): https://www.tradingview.com/script/9Ltwsixb-TDI-Traders-Dynamic-Index-Goldminds/

Squeeze Momentum is the most useful one imo.

Indicators only work on markets following certain rules.

All these smaller coins are "bot controlled". Means you have these "bot buy in/buy out" cascades. They trigger each other accidentally then.
Also smaller coins react more easily to fat fingers (big instant buy/sell orders).

So I just have some coins I have in MCC (multicoincharts.com) and if I see or read about spikes - I wait for a drop (to use the "waves") and I also check for potential candidates of the next "pump".
You of course miss a lot of pump n dump ... but as long as you are not invested during dumps ...you only miss a chance for more coins/money, but you will not have a loss. Do not get greedy and be ok with 10% gains in minutes instead of always waiting for the 500% pump (which you will most probably miss - or you sold lower/earlier anyways)


bye
Ron

Got it, thanks. I only trade in BTCUSD, it's the only one I believe in. Didn't have much luck with altcoins because of the reasons you mentioned (bots, very volatile, and also I'm not talented in this).
I think BTC x fiat markets have enough consistency to use indicators, at least just to improve our odds a bit.

some news :

the FED / BCE recognize that inflation (increase of prices) (real estate, energy, some ressources) is more than expected and may be durable, and therefore they plan to decrease their helps on the finacial markets and raise the cost of borrowing money. (my translation of their esotheric words)

therefore, depending on their actions (or speechs), there may be some volatility of the prices of risky assets, like stocks or cryptos.

i have some cash ready to buy the dip in 2022. (btc, bch ,xmr)


i am also really intrigued in terra luna and ust. still learning about it...


and you ?

Already bought (and partially sold) the dips of last months.

But yeah, 30% of my money "there" waits on the sideline for cheaper buy prices.


bye
Ron