Abandoned Coins
Today, I exchanged cryptocurrency coins for Bitcoin (BTC) on Bittrex & Poloniex. In other words, I bought back BTC. I abandoned coins I bought. Back in June 2017, last month, bought coins, but sold them for BTC for a lower price than what I bought them for last month. Here are screenshots (photos) below concerning the details of my trades, my exchanges today, this Sunday, Saigon time, the 16th of July 2017.
Back in June, I sent in 12 million (M) Vietnamese Dong (VND) money in Saigon, Vietnam, through a BTC ATM (BTM) and into my Electrum wallet. 12M VND = $530 USD = 0.22 or maybe 0.28 BTC apx. My wallet only received about 0.18 BTC. It took some hours for that deposit transaction to complete for the money to go from the BTM to my computer Bitcoin wallet on my laptop. I'm not too sure what the BTM fees were. I'm not sure how to adjust for the changes in exchange rates between different money currencies. The BTC gave me a receipt that said like 0.22 BTC which I thought meant I would get that in my wallet. But I got less than that I think. Later, I sent my money from my wallet to BITTREX DOT COM: http://Bittrex.com: about 0.18 BTC or so.
After that, I also sent 50 SBD from this website, STEEM IT DOT COM, http://Steemit.com, from my Steemit Wallet, to POLONIEX DOT COM: https://Poloniex.com, but I did not see SBD there until about a week ago in July 2017. So, it took like a month to get money into Poloniex. Today, I bought BTC on Poloniex with 50 SBD.
I sent 90 SBD from my Steemit Wallet to http://Bittrex.com via the Steemit @Bittrex bot. During the past month, in June and July 2017, I was trying to exchange, buy and sell crypto coins on Bittrex but I basically failed I think. I heard people say BTC may split. Some said it will not split forever. But maybe the Ethereum split is forever.
Should I buy Ethereum right now?
On Bittrex, I have.. 0.16071309 BTC / 311.41 USD
On Poloniex: I got: 0.02103141 BTC / 039.79 USD
I originally had 500 - 700 USD but lost some through transactions.
I really want to try to make money and stuff.
So far, I have lost maybe $200 USD or maybe less than that, if not more.
Did I make the right choice to sell my coins for BTC?
I had 100K Dogecoin, for example.
I had a few other coins too but sold them for BTC, like I said already.
Sold them back for less to get back some BTC.
I hope BTC rises again someday.
What should I buy now?
Should I use other markets besides Bittrex and Poloniex?
Should I use other wallets and devices?
Which coins should I buy and when?
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Some photos of the details as follows:
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Informative stuff , keep posting keep sharing
Poloniex SBD is disabled currently and has been a lot in 2017, this year for many months maybe. It took a month for me to get SBD into @poloniex. I put money also into @bittrex which worked better than Polo.
Oh my dear friend
You are doing it all wrong
First before buying any cryptocurrency know the news well
Another thins is stop moving money from one account to another try and keep a portion of your cash on a few exchanges and keep the there
Just in case one gets hacked
But moving continuously as you know it my lead to you having to pay lots of fees and or get the coins very late or never
For now wait about 2 weeks and see what is around crypto then
Hope it helps
I was not moving around too much or in a way that was too bad or too careless. My money is not in only one place. I did not abandon one market for another. I went to two markets. I'm also trying faucets. I'm trying to mine. I'm trying different wallets. I bought BTC back which is a good thing to do. I know the news very well. I have been studying the news a lot. I did not say I do not know the news well.
Why did you sell into BTC? Also, why sell your coins at a lower price than you bought them at? It would have been better to hold them, in my opinion.
The possible BTC split means the Bitcoin markets will be a mess until mid-August. If I were you, I would hold my Bitcoin in an Electrum wallet (or another wallet where you hold the private keys), or sell my BTC at the end of the month and buy back after the fork turmoil seems to be over. Holding offers the possibility of receiving the new coins when the blockchain forks, though.
As for what coins to buy, I'm going to buy Litecoin, because its price has been fairly stable compared to the others.
Should I buy Steem and power up that into Steem Power (SP) on Steemit.com?
That's certainly an option. I would choose an asset that's relatively stable. YOu could try bitCNY or bitUSD, or USDT (Tether), as well.
some ppl say buy litecoin as it will go up alot in next few months, i'm personally buying bitcoin for earned steem ( cents for now ) on bittrex and holding it at least til next year,possibly longer. poloniex had issues for few weeks not allowing any steem or sbd transactions for some reasons. i guess it has something to do with hf19. steem is cheap, i would sell doge for steem now, but i'm not a trader. but dogecoin - even if i own 1oz silver coin dogecoin - it have no future use except for tipping. bitcoin will be cheap til end of july as segwit is implemented on 1st of august. make sure you have your btc offline. exodus wallet would do or even simple electrum wallet. check jsnip4, bixweir and clif high videos. every transaction takes a little off your chunk so think them well thru. i'm no expert at all, relatively new to cryptos and that's only a few insights i wanted2share. Good luck and have fun with it :)
I might send my BTC from Bittrex / Poloniex to my Electrum BTC wallet on my laptop.
So the amounts of your assets are low, you can be an open book about this but not for ever. First I am not sure if you know why the BTC is actually low but it has to do with a development in the system. Making demand lower, but still a lot higher then the supply. In August a major decision is made about the blockchain, with 2 options people are mostly pulling out of uncertainty. Once people get back in the demand and price will go up.
How ever the instability and the fact that I like to order stuff with bitcoin also made me consider I rather have some steempower then bitcoin now. So I turned a small amount back to steem.
About Ethereum, it's the different then bitcoin in a lot of ways. for one people have way more control over it. Essentially meaning that banks who have Ethereum on their assets coulda actually be their own central banks. Within a decentralized system if they find the right programmers for it. So unless you are a big investor, skilled programmer or some other good asset to the network Ethereum is just another currency. Before you consider get into Ethereum and add it to your assets you should try get a deeper dive into market capitalism.
Currently I'm just waiting till august and see from there, my assets in bitcoins are not actually as big that I should worry. If you want to invest you should be prepared to take a lose and there is no difference with miracle stocks like bitcoin. If you wanna play it safe, invest in someone with a good idea & realistic plan if you have the capital for it. (e.g. start-ups)
Thanks for advice. Ethereum has a lot of potential like Ripple and Litecoin.
I had different coins but bought back Bitcoin because I feel BTC will rise up again.
I felt that BTC will rise much more than the other coins would.
I only have about 1K USD or less. I don't make a lot of money compared to others.
So, what I do have is a lot for me.... Steem & SP may go up too... I have 100 SP right now...