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RE: Crypto Corner LIVE! Bitcoin is either a means of exchange or it's a tool for control.
Oh my God ! I can't believe there's someone else in the world that I agree with on crypto, this guy has it spot on !
Every single post I read, "bitcoin is an asset", "bitcoin is an investment", "bitcoin is virtual gold", "bitcoin is for hodling", all wrong wrong wrong wrong wrong.
I'm just glad there are still people out there who understand the true nature and purpose of crypto, and haven't fallen for the 'get rich quick' bullshit.
Thanks for sharing the vid, a definite re-steem from me.
Thanks! Yes, Kurt is the oldest (in terms of crypto space) member of our team. He's been in since 2013 and is a massive advocate for mass adoption. He is actually on the BCH side now because of the control and manipulation that has overtaken Bitcoin.
Are you part of our FB group, if not you should get in some of the discussions there too!
https://www.facebook.com/groups/cryptotraderspro/
I'd love to join you on Facebook just to stir everyone up ! he he, but sadly I don't use it :-(
Fair enough, Steemit it is!
He is awesome isn't he!? I think you would enjoy the group on fb! It's worth it just for the group! It's THE best Crypto group on fb
he just sounded like a realist, which is refreshing because usually everyone just circlejerks each other about their own personal shitcoin going to the moon... nice to see someone with a realistic view.
I probably wouldn't last long in the group, I've got very negative opinions on crypto :-( lol
I really like him a lot! He adds a lot of value to the group. All the admins are awesome! It's a pretty open-minded group. Everybody is trying to learn. Everybody wants the same thing really. To invest and get behind the best projects.
But, you're tradergurl! Lol What are your opinions on crypto? Or do you trade other things?
I trade every asset class, except crypto.
I do mostly FX and commodities but I trade anything I can make money on, it doesn't matter. Just not crypto lol :-)
Can I ask why? It's been much more profitable than stocks for me. They grow like 25% a year maybe. I get 50 to 100% gains in a day sometimes lol
Lots of reasons really. No leverage, so there's not enough money in it for me. Can't short them, no futures or options on them, don't behave like real currencies. The price is controlled by circlejerkers keeping it up and amateurs selling it down. Completely newb market, full of people who've never traded a day in their life. Highly susceptible to 'internet rumours', oh man I could go on... lolol.
I can trade options on 6 major coins at the moment (with my current broker) but because of the high volatility the spreads are extremely wide, just not worth it. Example BTC is 70 minimum, when it's really quiet. So just opening a BTC trade I need it to move $70 dollars before I'm even in profit. That can take days to move that much... By comparison my FX spread is typically 0.4 and it can move 5 times that in a single tick.
Yes you can. The guys in the Crypto Traders group do it all the time. You can leverage 100x on Bitmex. Bitcoin has moved over 300 dollars today. It moves back and forth way more than 70 dollars every day. I'm not sure where you're getting your information.
I think I'll stick with my current broker, I've been with them a long time and trust them with my money. Not prepared to put money in another company that could go bust tomorrow. Crypto companies don't have a great track record... :-)
Maybe when mainstream financial institutions start offering products to trade as a matter of course and there's proper liquidity in the market. At the moment it's more like an emerging market, or penny stocks, junk bonds.