Hey thanks for the nice reply... I figured it had to be like that...I mean they want volume right? I just read some stuff about traders waiting like 5 days or so for it to clear or get confirmation or something....It made me feel like they were waiting once they sold to get the funds back to the account or something...I was thinking in this day and age it cant work like that...Still dont understand exactly what I read. Wish I still had the link....
Theirs a general idea that when new traders think theirs easy money to be made that the bubble will burst. Most recent example would be Chinese stock market. Everyone and their dog started investing because all you had to do was buy and hold for a bit and you'd make money. The dotcom bubble of 2000 is another good example. People with no previous trading history could just buy any tech stock no matter what and just watch price go up as everyone is buying thinking of easy profits. Eventually the last buyer has bought and everyone sells starting a crash. Bitcoin is the new one. I have a lot of friends and family that talk about it that have no interest or knowledge in markets and their talking about it like it's easy money. That's usually a bad sign for a trend. Even a few months ago all my co workers were talking about weed stocks because they knew someone that made a few grand here and there. I pulled some charts and as far as I saw the move was done and volatility was way outside my risk tolerances yet they were looking into opening brokerage accounts to jump on the wagon.
I've been calling it a bubble since the low 100's. I haven't made any bets against it because there is no limit to a bubble, and counterparty risk is beyond unacceptable. I almost bought 5000 of them at $1 but decided against it because I thought government would intervene. I don't regret that decision because I know there is no way I would have ever held it. I doubt I would have held it past $10 if that. I still think bitcoin will end up worthless one day. It is garbage as a store of value which limits it to its transactional value. Unlike most bitcoin cheerleaders I actually used it for some big transactions to try it out(gold bullion). It was slow and expensive, and I didn't like the fact that if I messed up and someone hacked me my $ was gone. But it could still go to 10k next year. Who knows. If I want to try for a 5 bagger I will just buy some options on a real exchange.
%% Bitcon could turn out OK; even though SEC denied bitcon ETF. LOL Actually i enjoy outdoors +overpriced tulips, but not the madness/insanity of crowds.I never called any real estate trend a bubble, even though with insane leverage it could be worse than nothing[negative balance ,because one could get sued for loan deficiency]. Good points, calling it a literal bubble. Average home price in Toronto hit 1 million to $1. 6 million, real estate , not bitcon. Spell checker not used.
commissions to expensive maker ..00125--- 3.125 taker double 6.25 in order to get a commission break you have to spend 10,000 in commission every month first 12 dollar moves is commission
Ahh.. now I understand the question of the OP. He wants to know if there are Confirmation-times between trades on an Exchange! He doesn't want to wait 6 confirmations before he can do his next day-trade. Answer: No. Trades on exchanges aren't settled on the blockchain, but in the exchange books themselves. Only if you deposit or withdraw crypto's you have confirmation-times.
This is the right attitude to have in my opinion. Not sure about cryptocurrencies in general tho they seem safe even with the recent hacking of $90k of ether this week. They would have patched that vulnerability by now, right?
Bitcoin will end, its actually part of the deal. There are only so many discover-able (mine able ) coins out there. It is many years in the future, but it will end. Once it starts down the other side of the bell curve people will flee. But bitcoin itself has to be considered a bubble if it has a end date right? After there are no more coins to mine who will keep the block chain going?
Answer: Miners are paid in two ways: a) the block-reward of (for now) 12.5 BTC per 10 minutes, and b) the transaction-fees of all gathered transactions in such a block. Over time, (a) will decrease, and as Bitcoin gets more and more mainstream (b) will increase. The protocol itself ensures that these incentives (a+b) will always level to an economical equilibrium. Meaning that when some miners have to stop for economical reasons, there is more to earn for the remnants. So it's to be expected that after the year 2140 (when we all are already dead) Bitcoin can still survive.