/biz/ - Business & Finance

>>2304760
cus ppl sell their altcoins to cash in the btc

Most "investors" (daytraders) have extremely weak hands and jump onto whatever is rising the fastest.

why do the price of eggs drop when less people buy poultry?

>>2304820
IF A BITCOIN DROPS ON THE FLOOR IN THE FOREST AND NO ONE IS AROUND DOES IT MAKE A SOUND?

Should we hold?

Bitcoins are much more stable than alts, but may not increase in value as much. When BTC starts going up like crazy, people want to get into a low risk high reward coin, so they sell their alts and buy btc

>>2304915
HOLD IT LIKE YOU HOLD YOUR DICK; NICE AND FIRM

Altcoins crash whenever bitcoin is mooning or crashing because people are fucking retarded and panic sell the second things get a little volatile.

Also if btc goes up and an altcoins goes down by the same amount than the altcoin is still worth the same in USD.

>>2304760
only shitcoins go down, goodcoins go up always

>>2304760

Because the alts are fucking denominated in fractions of BTC. Think about this.

>>2304760

Because alts are trading directly against the BTC. All forex is a pair trade, so if you're buying ETH/BTC, as BTC rises, all other things being equal, ETH should fall so that the USD value remains the same.

>>2304898
yes you fuckwad

>>2304767
>>2304784 this, desu

>>2304944

>>2304965
This is the only real answer in this sad thread. /biz/ get your shit together.

Price of Bitcoin goes up.
Now, it will cost less BTC to buy a digicoin or waves, etc.

This isn't heavily regulated by governments so you have to give it time to equalize.

Just relax and hold your stuff. It may even be a good time to buy/sell depending on if your shitcoin of choice has adjusted to the new price of bitcoin.

Anyone mind helping me out. I'm a long time stockcuck and figured it was time to try the cryptopunch.

Been lurking and reading for a while and this is what I understand so far:
>make an account on coinbase
>do all verifications
>buy ETH with fiat (USD)
>send ETH to Bittrex
>trade ETH for alt coins or BTC or sit on ETH

From what I've heard the fee/transfers for BTC are stupid high, so ETH is cheaper to move.

Also, what do you guys use? Credit cards? Bank transfers?

Would really like this last bit of help, I'm pretty close to buying.

>>2305568
My bank account is connected to my coinbase account, and I also use a credit card sometimes. But I've been doing this for years so it's all instantaneous.

It will take a few weeks to connect your bank account to coinbase, but in the meantime you can just use a credit card for a quick (but small) deposit of fiat into ETH or BTC.

>>2305568
stop using cuckbase

>>2304760
so is today the time to sell altcoins again and buy the dip later??

>>2305568
Lets put it this way. If I maxed out all my credit cards on BTC when it was still 1000$ I would have been able to pay them all off by now with double the amount in my bank account that I initially started with

>>2304944
Tell me what's behind the green door anon

>>2305727
too late for that, just hold, chasing the market is how you lose money

>>2305727
No you weakhanded faggot

Stop trying to time the market

>>2305743
uh... a lifetime of silence? duh

My USD % went up though, so it's all okay.

>>2304760
It's a flight to safety, bitcoin goes up from the people trading into it out of fear. And then others just buy it because Bitcoin is going up.

>>2304760
everyone is cashing out in btc

>>2304760
>Why do alt coins go down if bitcoin goes up?
If people were creatures of logic this wouldn't happen. Altcoins are traded in BTC so whenever BTC goes up your altcoins also gain in value vs. fiat.

But people being the illogical wekahanded faggotprimates sell alts to "cash in" on BTC gains. And because many people do the altcoin prices drop which means if you want to maximise your profits you better sell, too.

It's like fucking Zebras. The herd could stand still an do nothing - no fucking lion would fuck with them. But because most Zebras are weakhanded horsefaggots they start running. And the rational Zebras who'd usually stand better run too, before they are left alone and eaten by lions.

I personally don't do the BTC-up-sell-ALT dance unless I wanted to sell the ALT anyway in the near future. Because even if the ALT drops in price - BTC rises and the value vs fiat stays roughly the same.

Selling ALTs on BTC gains is for greedy jews.

>>2305667
It only took me a few days on cuckbase.

>>2305568
I would sign up for Coinbase and Gemini at the same time. Coinbase will put you at a much lower max bank account limit than Gemini and has much lower fees. Bank transferes will take longer but the limit will be higher.

Other advice.

-Don't get pulled into shill pump and dumps. Just because someone says xyz is gonna MOON MISSION, doesn't mean it's a legit investment. Lurk for a bit and learn which coins seem to have real value versus just being shit

-Actually look into what you're buying. Go on youtube and watch quick videos for an overview, but also go on the coins' websites, twitters, etc.. See what real world value they have (ex. Sia as decentralized file hosting that could compete with Amazon) and make sure they have good and active dev teams. Read their whitepapers (usually 5 to 25 page documents giving overviews of the coin's functions, plans, etc.), watch presentations by their creators, etc..

-Learn to HODL. You can make a lot of money by jumping on meme pump and dump coins, but you will miss a lot from panic selling too early or selling a good coin for some get rich piece of shitcoin. I'm also a crypto newfag and I lost out on DGB because I sold at 696, thinking "this coin is too slow. I WANT MY MONEY AND I WANT IT NOW."

-If you margin trade, only do it on very small amounts.

G-good luck Anon!

>>2305871
Oh, and learn the basics of what makes the fundamentals of the tech behind crypto if you're not a /g/entooman. Learn how the blockchain works and what it is (a linked list that acts as a decentralized ledger), a bit about public key encryption (your wallet), and decentralization.

>>2305568
Coinbase charges 3% fees which is outrageous and they're not a safe exchange, you have a high chance of being mt Gox'd if you hold coins there. You can also only buy BTC, LTC & ETH.

Open a poloniex account and start an account with the best bitcoin exchange for your region (I'm in Australia and use coinjar).

You then purchase BTC through the bitcoin exchange and send it to Poloniex where you can trade many different alts.

Poloniex acts as a storage exchange and isn't much more stable or secure than coinbase so once you have any significant amount of coins you should store them in an offline wallet.

This is the best way to do it friend.

>>2305667
My bank account connected instantly but transfers take a few business days, so I also have my debit card on there. But the first time I used my debit card on Coinbase my bank locked my account. I just had to call them to say Coinbase was not someone stealing from me.

>>2305909
1.49% if you aren't a retard and buy via bank transfer

>>2305667
And you've had no issues? Linking my account to coinbase doesn't sound great.

>>2305671
Recommend something?

>>2305732
So, use my card. Should I mention it to them? Will they assume it's fraud related?

>>2305871
>>2305890
All great anon. Thanks a ton.
Why would I need Coinbase AND Gemini?

>>2305909
>Open a poloniex account and start an account with the best bitcoin exchange for your region
Not really sure what this means. Is Poloniex not an exchange? Why wouldn't I buy there?
I'm in the US by the way.

>>2305921
This just sounds unsafe, no?

>>2305960
>This just sounds unsafe, no?
what the fuck are you talking about?

>>2305973
Like I said, I'm new to this.
I've heard shit about Coinbase, so setting up a bank transfer with them sounds iffy.

>>2305785
Pretty much this.

I'm losing on altcoin vs bitcoin but the overall bitcoin trend is up so I'm improving vs fiat which is the only currency they accept for a lambo.

>>2306029
>like i said, i'm new to this
then why the fuck are you saying shit like that

fucking hell you newfags kindly just shut the fuck up and lurk more until you know how this shit works

>>2305890
Yes, learn all of this. Fundamentals are incredibly important when it comes to crypto currencies!

>>2306029
Worst that can happen is your bank thinks someone stole your card to buy coin, and you just gotta call them or something.

>>2305871
>>2305871
Best advice ive seen on biz for 3 months

>>2305960
>Why would I need Coinbase AND Gemini?

When I signed up for coinbase my initial bank account withdrawl limit was very low, I think only $250 a week. It took two months to increase. Gemini has something like a $10,000 withdrawl limit. Their verification process is swamped with newfriends now though, so it will take longer than Coinbase to be verified. Gemini also has much lower fees.

Sign up for coinbase and buy what you can there now, then stop using it as soon as you get verified at Gemini.

>>2305743
The rarest of all pepes.

>>2306062
THANK you.

.>>2306053
Go back to that cock you're sucking.

>>2306098
Awesome, you're been so fucking helpful anon.

>>2306126
shut the fuck up you poor new faggot. nobody wants to hear your retarded shit that isn't true.

>>2306140
What are you even talking about?

>>2305851
>Selling ALTs on BTC gains is for greedy jews.
>not taking every advantage you can get
>not being fearful when others greedy and vice versa
>not using BTC boom to cash out into promising alts
HODL is fine, but master tier would be to ride the wave with rebalancing your portfolio for each swell.
Wish I had more time so I could do this, family.

>>2304898
Does It create vibrational waves in the air?

Yes.