/biz/ - Business & Finance

Yes, before the Bcash fork. They were so sure it would plummet to around 1.4K that some of them even shorted BTC and they all got royally fucked

>>4129490
Laugh all you want now, but just remember we're going to be the first to scoop up those delicious discount prices while we watch your margin accounts get liquidated.

Yeah that's what I did during the bcash fork.

I ended up buying back in when I dipped afterwards. I scooped up a bunch of cheap BCC too after the initial rally on bittrex. Made a killing after it ended shooting back up like a week or two after that.

>>4129490
I'm the kind of person who sits in Tether and USD mostly. I probably still make more in crypto than you and here's why.

I went all in on ETH around $20, then back to USD/Tether in May.

Then I went all in on Kyber (maxed in the ICO and then bought as early as I could) and made about 8x in total on that. The trick is that I sell when the volume starts to die out after considering all news and upcoming events.

So in total I made something like 80-85x on my money just by being patient and waiting for the right opportunities. Meanwhile those who held Bitcoin made maybe 6x this year.

>>4129607
I "missed out" on plenty of opportunities to make money. Hundreds or even thousands, probably. But over the course of the year I still did fine.

>sitting in Tether

I got some bad news for u bro

>>4129607
the decision isn't bitcoin or nothing. if you went from bitcoin to ethereum, then back to bitcoin, you would have made significantly more than someone sitting in fake dollars.

>>4129638
I'm mostly in USD on Gdax actually, but you're missing my point.

I was 99% sure about Ethereum and 99% sure about Kyber both having extremely high payouts.

I was not 99% sure about Bitcoin having high payouts, and so by waiting patiently for solid opportunities I was able to assure large returns. It's a strategy that works and going into Bitcoin goes against that strategy.

Also, Bitcoin moved considerably less than most other large cap coins this year, in terms of USD. I'm not concerned with it.

>>4129607
Sound strategy, but sitting on Tether specifically is a gamble. It's printed at will by Bitfinex to sustain artificial BTC support, with no backing whatsoever. When it used to be a few millions dollars, that was a concern; now it ballooned to 300 million dollars, propped by nothing but investor confidence (confusion, really).

>>4129872
See >>4129708
FDIC insured USD.

I use Tether temporarily when I bring money overseas.

>>4129872

its actually $450 million now

>>4129872
if something happens to tether it will kill all crypto market capitalization anyway
chinese cashing out almost halved btc price
imagine what will happen if everyone else would run to fiat