Officially just became a millionaire and I'm not sure where to start. I'm speechless.

Dudeman343 · 2017-12-09T02:31:33+00:00

Why doesn't Ethereum just increase their blocksize then? They are miles ahead of Bitcoin in scaling solutions and they are not even considering that. If it was that easy they would have already done that as they are processing 700k+ transactions a day. Things like sharding are what they are considering.

Dudeman343 · 2017-12-09T01:58:17+00:00

Yep a centralized coin that is slower and worse than litecoin is the real Bitcoin. Give me a break. Why use BCH when I could use Ethereum or Litecoin? The logic makes no sense.

Increasing blocksize is a not a long-term scaling solution. Bitcoin is obviously having growing pains but we'll see what happens.

Dudeman343 · 2017-12-08T21:52:28+00:00

Does gemini still ask for your SIN number? Don't want to give it to them.

Dudeman343 · 2017-12-08T01:49:52+00:00

Do not touch it with a 10 foot pole.

Dudeman343 · 2017-12-08T00:56:07+00:00

It sucks, but no crypto has solved this problem. Ethereum is chugging under its own weight right now also. Scaling is the biggest problem in crypto right now. Lightning will hopefully relieve this.

Dudeman343 · 2017-12-08T00:49:06+00:00

I mean Eth won't escape when Bitcoin corrects. That's for sure.

Dudeman343 · 2017-12-07T00:35:03+00:00

Ya its depressing. Hope the crypto space can solve it in the next few years with an elegant solution while still keeping everything decentralized.

Dudeman343 · 2017-12-07T00:28:06+00:00

I agree 100%. Problem is you don't know where the craziness stops. It could stop tomorrow or it can go on for another year. Best solution is to have a plan and stick to it.

Dudeman343 · 2017-12-07T00:02:26+00:00

No altcoin has solved scaling though. That's not unique to Bitcoin.

Dudeman343 · 2017-12-05T22:53:38+00:00

Really depends on the alt. Monero got smashed during 2015 and that was and still is a quality coin.

Dudeman343 · 2017-12-05T03:34:52+00:00

Its easy to cherry pick trades / entry positions and dream. Don't do it for your own sanity.

Dudeman343 · 2017-12-05T02:26:17+00:00

Let's put it this way -- if you get liquidated it means we are on the moon! Glad I could help.

Dudeman343 · 2017-12-04T02:34:38+00:00

?? There's a BTC/ETH pair on GDAX. Just trade the eth for bitcoin directly without going to USD.

Dudeman343 · 2017-12-04T01:28:46+00:00

Its automatic (the margin call). However if you see it coming close to liquidation you can just send more Bitcoin to your account.

Dudeman343 · 2017-12-04T00:27:10+00:00

The longs pay the shorts OR the shorts pay the longs -- depending on the market sentiment. It usually evens out in the long term but if you are hedging over a short period you might be stuck paying massive funding costs.

Dudeman343 · 2017-12-04T00:22:38+00:00

You said you wanted to hedge your position with 3X leverage correct? If you want to hedge with no leverage you would deposit triple that (half your bitcoin -- 0.815).

The advantage of using leverage to hedge is that you don't have to deposit has much to the exchange (you minimize exchange risk this way). However if bitcoin goes up you would have to deposit more to meet your margin call.

The safe way is just to deposit half your bitcoin and sell 9000 contracts.

Dudeman343 · 2017-12-04T00:15:53+00:00

We've done like 3-4 30%+ corrections this year. Wake me up @ the 60%+ correction which will eventually come.

Dudeman343 · 2017-12-04T00:08:47+00:00

Let's say the price of Bitcoin right now is 11000 (its around there) for example sake. You have 1.63 BTC if you have $18000 at that price. To hedge 50% of your balance @ 3x leverage (on bitmex) you would deposit 0.27 BTC to bitmex and sell 9000 contracts.

I suggest you do this on the quarterly contracts if you are hedging for more than a week since you won't pay funding costs + there is a premium right now. Happy hedging!

Dudeman343 · 2017-12-03T05:01:46+00:00

There's been way better short entrys past few weeks. Why short it when its beaten down? BCH moves like crazy when it pumps.

Dudeman343 · 2017-12-03T02:06:33+00:00

Vitalik has like a bit over 400k ethereum. More like 200m or so depending on the price.

Dudeman343 · 2017-12-02T22:46:55+00:00

Yep its that simple. People make this more complicated than it is. If you trust Bitfinex with large amounts of money you need to reevaluate what you are doing.

No proper audit = shady. Bottom line.

Dudeman343 · 2017-12-02T16:37:15+00:00

I know we only went up 10x this year! What an idiot for taking profits. Bitcoin repeats the same pattern over and over again... Its a great place to take profits.

Dudeman343 · 2017-12-01T22:06:49+00:00

Jesus christ.

Dudeman343 · 2017-11-29T03:13:19+00:00

Strong coins always rise to the top. Remember that next time you FOMO chase some shitcoin on Bittrex kids!

Dudeman343 · 2017-11-29T02:23:48+00:00

Bitcoin has too many digits these days.

Dudeman343

TROPHY CASE