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Thread: Profit taking?

  1. #21
    Moderator madfranks's Avatar
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    Re: Profit taking?

    Quote Originally Posted by Shami-Amourae View Post
    Personally I want to get a larger percentage of my wealth in cryptocurrencies. I like trading with alt-cryptos and take "profits" in Bitcoins. If I made $100,000 or something, sure I'd take some cash and buy a truck or some land. But until that, I'd rather keep it in the market.
    Or a house? Hey, you've met your goal, maybe now is a good time to cash in and take some of that profit!
    "Liberty is so creative, and the government is so stupid, that Iím very optimistic about the future"
    - Lew Rockwell

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  3. #22
    Moderator madfranks's Avatar
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    Re: Profit taking?

    And as we're on the subject of profit taking, yesterday when BTC was ~$10,300, I traded 1 BTC for SEVEN ounces of gold.
    "Liberty is so creative, and the government is so stupid, that Iím very optimistic about the future"
    - Lew Rockwell

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    Ares (1st December 2017),Camp Bassfish (1st December 2017),Hitch (30th November 2017),Horn (30th November 2017),Jewboo (30th November 2017),Joshua01 (30th November 2017),monty (30th November 2017),Neuro (1st December 2017),TroyOz (30th November 2017)

  5. #23
    Iridium
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    Re: Profit taking?

    Quote Originally Posted by madfranks View Post
    And as we're on the subject of profit taking, yesterday when BTC was ~$10,300, I traded 1 BTC for SEVEN ounces of gold.
    You madfranks, are my new hero. I want to be like you when I grow up.

    When the smart folks start selling and taking profits, it can and will cause a mass panic in the huge BTC bubble that's been created.
    life is good.

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  7. #24
    Sardonic Observer Jewboo's Avatar
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    Re: Profit taking?

    Quote Originally Posted by madfranks View Post
    And as we're on the subject of profit taking, yesterday when BTC was ~$10,300, I traded 1 BTC for SEVEN ounces of gold.
    Shami should listen to Madfranks and buy that Idaho house now.

    Truth is chased from many villages.

  8. #25
    Electrum TroyOz's Avatar
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    Re: Profit taking?

    Quote Originally Posted by madfranks View Post
    And as we're on the subject of profit taking, yesterday when BTC was ~$10,300, I traded 1 BTC for SEVEN ounces of gold.
    If you don't mind me asking, what was your entry point on the bitcoins. Feel free not to answer.

  9. #26
    Moderator madfranks's Avatar
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    Re: Profit taking?

    Quote Originally Posted by TroyOz View Post
    If you don't mind me asking, what was your entry point on the bitcoins. Feel free not to answer.
    My first bitcoins I paid $40 for on ebay, but I traded those ones long ago, some as documented on this thread, trading some for gold earlier this year. My biggest bitcoin purchase however, was this:

    https://s33.postimg.org/3ktnd3gf3/10_BTC.jpg

    Of all of those, I'm down to less than 1 now (other than my physical BTC coins), mostly because I had to sell most of them earlier this year to pay for some unexpected and expensive financial hardships. The timing was really bad, because that was just before this crazy rally started and I had to sell most of my holdings for ~$1300/BTC.
    Last edited by madfranks; 1st December 2017 at 06:57 AM. Reason: clarification
    "Liberty is so creative, and the government is so stupid, that Iím very optimistic about the future"
    - Lew Rockwell

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  11. #27
    Sardonic Observer Jewboo's Avatar
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    Re: Profit taking?

    Count your blessings Madfranks. You got out with some real money just before the mob goes insane in our streets:

    http://gold-silver.us/forum/showthre...of-Paper-Money

    Bitcoins are "jew confetti".




    The currency became known as "Judefetzen" (Jew- confetti), hinting at the chain of events that would lead to Kristallnacht a decade later.
    Truth is chased from many villages.

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  13. #28
    Moderator madfranks's Avatar
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    Re: Profit taking?

    Quote Originally Posted by Jewboo View Post
    Count your blessings Madfranks. You got out with some real money just before the mob goes insane in our streets:

    http://gold-silver.us/forum/showthre...of-Paper-Money

    Bitcoins are "jew confetti".



    I don't think bitcoins are going away, but I do think we're on the verge of another massive bear market in cryptos. Once this mania fizzles out, watch BTC crash back down to between $1-2k.
    "Liberty is so creative, and the government is so stupid, that Iím very optimistic about the future"
    - Lew Rockwell

  14. #29
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    Re: Profit taking?

    Quote Originally Posted by madfranks View Post
    I don't think bitcoins are going away, but I do think we're on the verge of another massive bear market in cryptos. Once this mania fizzles out, watch BTC crash back down to between $1-2k.
    I'll admit not paying much attention to the whole crypto boom, so this question may sound dumb, but can you short them?
    * This space for rent *

  15. #30
    Electrum TroyOz's Avatar
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    Re: Profit taking?

    Quote Originally Posted by Camp Bassfish View Post
    I'll admit not paying much attention to the whole crypto boom, so this question may sound dumb, but can you short them?
    Soon:

    http://www.cmegroup.com/media-room/p...infutures.html


    News Release
    CME Group Announces Launch of Bitcoin Futures
    Tue Oct 31 2017

    CHICAGO, Oct. 31, 2017 /PRNewswire/ -- CME Group, the world's leading and most diverse derivatives marketplace, today announced it intends to launch bitcoin futures in the fourth quarter of 2017, pending all relevant regulatory review periods.

    The new contract will be cash-settled, based on the CME CF Bitcoin Reference Rate (BRR) which serves as a once-a-day reference rate of the U.S. dollar price of bitcoin. Bitcoin futures will be listed on and subject to the rules of CME.

    "Given increasing client interest in the evolving cryptocurrency markets, we have decided to introduce a bitcoin futures contract," said Terry Duffy, CME Group Chairman and Chief Executive Officer. "As the world's largest regulated FX marketplace, CME Group is the natural home for this new vehicle that will provide investors with transparency, price discovery and risk transfer capabilities."

    Since November 2016, CME Group and Crypto Facilities Ltd. have calculated and published the BRR, which aggregates the trade flow of major bitcoin spot exchanges during a calculation window into the U.S. Dollar price of one bitcoin as of 4:00 p.m. London time. The BRR is designed around the IOSCO Principles for Financial Benchmarks. Bitstamp, GDAX, itBit and Kraken are the constituent exchanges that currently contribute the pricing data for calculating the BRR.

    "We are excited to work with CME Group on this product and see the BRR used as the settlement mechanism of this important product," said Dr.Timo Schlaefer, CEO of Crypto Facilities. "The BRR has proven to reliably and transparently reflect global bitcoin-dollar trading and has become the price reference of choice for financial institutions, trading firms and data providers worldwide."

    CME Group and Crypto Facilities Ltd. also publish the CME CF Bitcoin Real Time Index (BRTI) to provide price transparency to the spot bitcoin market. The BRTI combines global demand to buy and sell bitcoin into a consolidated order book and reflects the fair, instantaneous U.S. dollar price of bitcoin in a spot price. The BRTI is published in real time and is suitable for marking portfolios, executing intra-day bitcoin transactions and risk management.

    Cryptocurrency market capitalization has grown in recent years to $172 billion, with bitcoin representing more than 54 percent of that total, or $94 billion. The bitcoin spot market has also grown to trade roughly $1.5 billion in notional value each day.

    For more information on this product, please visit cmegroup.com/bitcoinfutures.

    As the world's leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com) is where the world comes to manage risk. Through its exchanges, CME Group offers the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange,energy, agricultural products and metals. CME Group provides electronic trading globally on its CME Globex platform. The company also offers clearing and settlement services across asset classes for exchange-traded and over-the-counter derivatives through CME Clearing. CME Group's products and services ensure that businesses around the world can effectively manage risk and achieve growth.

    CME Group, the Globe Logo, CME, Chicago Mercantile Exchange, CME Direct and Globex are registered trademarks of Chicago Mercantile Exchange Inc. All other trademarks are the property of their respective owners.

    CME-G

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