I don't think you understand the concept of money!!when trading your looking to increase BTC not fiat.
otherwise you wouldn't be trading at all if you thought fiat was going to do better.
you seriously don't understand the concept of it all.
I don't think you understand the concept of money!!
To help you on this one as you seem to only live in the Matrix, so let's assume we are fully crypto now. Replace USD with USDT. As in, what is wrong with buying Tether if it's value is increasing compared to BTC, and exchange back to BTC once you've made a profit?
I'm surprised why you haven't thought about why anyone would create a token that is directly linked to USD.
It's also funny how you state that the FIAT value of BTC is irrelevant, and only trade relative to BTC... then you go on to say... because BTC will be worth $50k someday.
I detect a conflict in statements [emoji57]
if in the future you want to cash out then yes fiat value matters
how many of you actually trade altcoins? and do you use fiat value to buy and sell or satoshi price?
bet all these people agreeing and saying funny post have no idea because they have never done it.
You need to look at both the FIAT price and BTC price when trading, as both are important.
This is why if you use something like Binance as a trading platform you can see both values.
It's why Tether was introduced, so you have an alt coin that is linked to FIAT.
As you have mentioned in your senario above, if you substitute ENJ for USDT the same trading profits apply.
Let's say today that 1 BTC buys you 12000 USDT. If USDT rises relative to BTC, and now 1 BTC is now only 6000 USDT, then you could sell USDT back to BTC and now have 2 BTC.
The simplest way to look at it is whatever coin you choose to trade from, always judge your altcoin profit/loss against that. Eg. I opted for Ethereum, so now I look at selling for more Ethereum than a paid originally (typically around 20% profit).
You have to separate the crypto market from the real world money market when judging your trades. The only time I will look to exchange for FIAT is when there are significant gains available. Otherwise I focus on improving my position in the crypto market.
Ultimately my aim is to make more dollers/pounds/euros, but not on a "day trading" basis. It's all about the long game.
Who mentioned FIAT? I stated USDT price.so when your trading you don't look at the fiat value but the ethereum value?
which backs up my point that people using the fiat value when trading are doing it wrong.
fiat value is only relative when cashing out, not altcoin trading.
Who mentioned FIAT? I stated USDT price.
As in my example above, if trading with BTC and altcoins, you need to look at all of the markets including USDT.
You seem to have no objection with jumping on ENJ if it's increasing in value compared to BTC, but object to trading with USDT.
This is no different to trading commodities and multi currencies. You may buy a commodity with GBP, and sell at a profit, but move the money to EUR or USD if your base currency GBP is negatively turbulent.
Danielson mentioned fiat.
When talking about trading Enjin. I then replied with your talking about fiat values and itsi the satoshi price he should be tracking
Holy Thread resurrection, I remember reading this 2 years ago and thought I would check up on it, I hope sonny took his own adviceare you the type of person that would drop £20 on a skin? if not then you aren't the target market.
also £20 on a skin is nothing there are skins that go for over £1K each on PUBG and CS:GO, etc.
ENJIN has a really long roadmap. it's going to be like 2 years before it's full potential is seen. it's still very much in it's infancy. it will come on leaps and bounds over the next 2 years with more and more deals and agreements they sign up.
I cashed out several £k profit yesterday and also 8 days ago at $59.4kHoly Thread resurrection, I remember reading this 2 years ago and thought I would check up on it, I hope sonny took his own advice
I had earned about £175 quid of BTC since starting with Nicehash on 16 March. There's been a big dip this past few days and £30 has been wiped off my Coinbase (I converted some to Ethereum and took a small punt on a few others) but definitely worthwhile with a single 3070. Not going to make you rich, but it's money for nothing and I intend on holding mine rather than selling in the hope it will keep moving up.I want to get into this but is it feasible with no dedicated mining rig just a gaming pc with an rtx 3070? I was planning on giving it a go with nicehash but if there's a better option I'm all ears. Of course I know I'm not going to get rich just mining with one GPU but if it covers the cost of the card that's a good start. I'm tempted to go further though and get a proper mining rig up and running but I guess the initial outlay is prohibitive in the current climate...
I thought about doing this a few years ago but never bothered, sure wish I had now...
I had earned about £175 quid of BTC since starting with Nicehash on 16 March. There's been a big dip this past few days and £30 has been wiped off my Coinbase (I converted some to Ethereum and took a small punt on a few others) but definitely worthwhile with a single 3070. Not going to make you rich, but it's money for nothing and I intend on holding mine rather than selling in the hope it will keep moving up.
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I did withdraw £20 of it to show the wife it's not 'invisible money'. Must put it back in actually now it's down, forgot, maybe invest some actual cash whilst I'm at it.
I have tinkered with Afterburner and got my hashrate to 62MH whilst the card is consuming 118w, with very cool temps. Much cooler than Nicehash's optimisation. I'll can share it if you start.