The Litecoin Thread

Harika · 12-12-2017 3:34pm

Uncle Mclovin wrote: »

Coinbase appears to be struggling with traffic.

I'm not able to see my coins at the moment. Anyone else experiencing the same. I didn't transfer to another wallet.

Yes just trying to sell mine. No chance to get into my account

The Megaphone · 12-12-2017 3:40pm

I'm saying it now - we'll top 450 tonight - where have I pulled this nugget of information from, well I just made it up - go currency speculation!

On a serious note, has anyone seen any patterns in day trading depending on the time of day here? It's breakfast time somewhere if you get me?

benjamin d · 12-12-2017 3:47pm

The Megaphone wrote: »

I'm saying it now - we'll top 450 tonight - where have I pulled this nugget of information from, well I just made it up - go currency speculation!

On a serious note, has anyone seen any patterns in day trading depending on the time of day here? It's breakfast time somewhere if you get me?

That mad dash coincided with 9am in the US. I feel like there's often a spike related to around the same time in Asia/Korea/China. It may mean nothing though and I'm seeing something that's not there.

Uncle Mclovin · 12-12-2017 4:02pm

Elemonator wrote: »

You are liable for 33% CGT tax.

Coinbase is down. I have been researching the CGT filings and if I cash some out now I have to pay by the end of the month and if I cash some out after January it is not to be declared until November next year correct?

If you cash out today you have to pay your CGT liability by 31 January 2018.

If you hold and sell in January 2018, CGT doesn't need to be paid until 15th December 2018.

Elemonator · 12-12-2017 4:06pm

Uncle Mclovin wrote: »

If you cash out today you have to pay your CGT liability by 31 January 2018.

If you hold and sell in January 2018, CGT doesn't need to be paid until 15th December 2018.

Thank you.

thunderdog · 12-12-2017 4:06pm

Uncle Mclovin wrote: »

If you cash out today you have to pay your CGT liability by 31 January 2018.

If you hold and sell in January 2018, CGT doesn't need to be paid until 15th December 2018.

Or alternatively cash out 1,270 now and the rest in 2018

GreeBo · 12-12-2017 4:13pm

thunderdog wrote: »

Or alternatively cash out 1,270 now and the rest in 2018

Someone listened, serious profit taking over the last hour or so.

Autochange · 12-12-2017 4:19pm

I don't get this. I bought 1 litecoin at 70 odd euro. The price coinbase are showing on the graph is 315 but my litecoin wallet on coinbase is showing 262 .

What am I missing?

Twiggy69 · 12-12-2017 4:24pm

It is a bit worrying that Coinbase is down... does it fold often due to high volumes???
Back to €299 on Gdax

GreeBo · 12-12-2017 4:37pm

Twiggy69 wrote: »

It is a bit worrying that Coinbase is down... does it fold often due to high volumes???
Back to €299 on Gdax

If its any consolation I cant get near Kraken either!

banie01 · 12-12-2017 4:40pm

Well that worked out nicely

Just bought LTC at €258.40 on Kraken, moved it to my coinbase account and deposited it on GDAX and sold for €320

The price had dropped to €282 on GDAX by the time the deposit hit the account but luckily there was a rally to €320 a few minutes ago.

Should the exchanges ever actually remain stable at peak demand there is huge scope for arbitrage, I just banked 25% on this transaction.

Ginger83 · 12-12-2017 4:51pm

banie01 wrote: »

Well that worked out nicely
Just bought LTC at €258.40 on Kraken, moved it to my coinbase account and deposited it on GDAX and sold for €320
The price had dropped to €282 on GDAX by the time the deposit hit the account but luckily there was a rally to €320 a few minutes ago.

Should the exchanges ever actually remain stable at peak demand there is huge scope for arbitrage, I just banked 25% on this transaction.

Very interesting read, i'd be interested in starting, no real experience but a few quid spare and aware its a gamble. Can i use Revolut?

Any advice/pointers?

GreeBo · 12-12-2017 5:12pm

banie01 wrote: »

Well that worked out nicely
Just bought LTC at €258.40 on Kraken, moved it to my coinbase account and deposited it on GDAX and sold for €320
The price had dropped to €282 on GDAX by the time the deposit hit the account but luckily there was a rally to €320 a few minutes ago.

Should the exchanges ever actually remain stable at peak demand there is huge scope for arbitrage, I just banked 25% on this transaction.

If they were stable then the arbitrage opportunity probably wouldnt exist...

banie01 · 12-12-2017 5:17pm

Ginger83 wrote: »

Very interesting read, i'd be interested in starting, no real experience but a few quid spare and aware its a gamble. Can i use Revolut?

Any advice/pointers?

You cant use Revolut to transfer Crypto to alternative address/exchange as yet so there is no scope for arbitrage between exchanges.
You can only Buy/Sell cryptomwithin the app and not via external exchanges.

Revolut is grand for buying crypto and moving gains back to Fiat, not so good for actually using crypto and transferring.

Regarding arbitrage itself, its high risk in particular where the exchanges tend to go down during peak periods.

With the number of crypto exchanges out there, there is always scope to purchase on 1 exchange and sell on another.
The risks are high.
1. there is always potential for transfer delay impacting on the trade, particularly with BTC.
2. The volatility in pricing can mean any potential gain between exchanges can be wiped out leaving you at a loss.
3. Transaction costs are always a concern.
4. The main risk in this at the moment IMO is Exchange volatility, too often it is impossible to access an exchange account to take full advantage.

Hope that at least helps give an idea of where to start.
Regarding advice on coins or investment, I'd never presume to offer advice on that. I'd always advise, read, research and second guess yourself

banie01 · 12-12-2017 5:22pm

GreeBo wrote: »

If they were stable then the arbitrage opportunity probably wouldnt exist...

It would depend on what "stability" means.
To my mind, its uptime and coping with peak demand.
In a market of hundreds of exchanges, price propogation isn't immediate and there is huge variation across the main markets even at times of low volatility.

my "Stability" comment isn't focused on core pricing but rather market access that can impede the ability to take advantage of the price variations

Ginger83 · 12-12-2017 5:24pm

banie01 wrote: »

You cant use Revolut to transfer Crypto to alternative address/exchange as yet so there is no scope for arbitrage between exchanges.
You can only Buy/Sell cryptomwithin the app and not via external exchanges.

Revolut is grand for buying crypto and moving gains back to Fiat, not so good for actually using crypto and transferring.

Regarding arbitrage itself, its high risk in particular where the exchanges tend to go down during peak periods.

With the number of crypto exchanges out there, there is always scope to purchase on 1 exchange and sell on another.
The risks are high.
1. there is always potential for transfer delay impacting on the trade, particularly with BTC.
2. The volatility in pricing can mean any potential gain between exchanges can be wiped out leaving you at a loss.
3. Transaction costs are always a concern.
4. The main risk in this at the moment IMO is Exchange volatility, too often it is impossible to access an exchange account to take full advantage.

Hope that at least helps give an idea of where to start.
Regarding advice on coins or investment, I'd never presume to offer advice on that. I'd always advise, read, research and second guess yourself

Thanks i might just use Revolut to dip my toes, buy a few coins and sit on them.

grindle · 12-12-2017 5:25pm

banie01 wrote: »

my "Stability" comment isn't focused on core pricing but rather market access that can impede the ability to take advantage of the price variations

You're not imagining the hedge fund market makers who'll be using bots spread across exchanges taking advantage of opportunities on every side.
Give it time, it'll happen.
There are a couple of small funds doing it now, but once Novogratz and his ilk really push in? If the exchanges can remain stable then prices will equalise across exchanges more and more as time passes.

banie01 · 12-12-2017 5:28pm

Ginger83 wrote: »

Thanks i might just use Revolut to dip my toes, buy a few coins and sit on them.

Holding is always a great way to go if you believe that past performance is an indicator.
I have some HODL myself and to this day kick myself for selling my original bitcoin at €500

I try and hold on to the fact that it was a 1000% gain at the time

but if i had it now...
I'd be in a lambo and up to my eyes in coke and hookers! :pac::pac:

The One Doctor · 12-12-2017 5:28pm

Nice pullback opportunities on Litecoin today. Going sideways now, perhaps headed for a dip. Thank you Litecoin for your volatility lately!

tacofries · 12-12-2017 5:30pm

Coinbase is acting very strange. It is displaying that my Euro wallet contains what I should have in Bitcoin, my bitcoin wallet contains what I should have in my euro wallet and also the litecoin price is displaying in euros although it has taken the dollar conversion rate i.e. it is saying that litecoin is worth €315 instead of $315. I am going to cash out when it lets me....

papu · 12-12-2017 5:35pm

tacofries wrote: »

Coinbase is acting very strange. It is displaying that my Euro wallet contains what I should have in Bitcoin, my bitcoin wallet contains what I should have in my euro wallet and also the litecoin price is displaying in euros although it has taken the dollar conversion rate i.e. it is saying that litecoin is worth €315 instead of $315. I am going to cash out when it lets me....

Just transfer it over to Gdax and do your trading there, you'll get actual market prices, less fees and it isn't as buggy as Coinbase.

banie01 · 12-12-2017 5:36pm

grindle wrote: »

You're not imagining the hedge fund market makers who'll be using bots spread across exchanges taking advantage of opportunities on every side.
Give it time, it'll happen.
There are a couple of small funds doing it now, but once Novogratz and his ilk really push in? If the exchanges can remain stable then prices will equalise across exchanges more and more as time passes.

Oh most definitely, but much as with multi exchange traded stocks opportunity will still exist to some extent.
Granted it will soon reach a stage where the only worthwhile gain will depend on high volume/value trades and us small guys won't see the benefit.

grindle · 12-12-2017 5:42pm

banie01 wrote: »

Oh most definitely, but much as with multi exchange traded stocks opportunity will still exist to some extent.

That's the thing - these differences will even out to 1% ticks either way and these funds can use Ripple gateway to arb within 10-15 seconds.
I wouldn't fancy my arbitrage chances against a team of bots with funds on every exchange.

Soak the current opportunities up while you can.

Ginger83 · 12-12-2017 5:43pm

banie01 wrote: »

Holding is always a great way to go if you believe that past performance is an indicator.
I have some HODL myself and to this day kick myself for selling my original bitcoin at €500
I try and hold on to the fact that it was a 1000% gain at the time but if i had it now...
I'd be in a lambo and up to my eyes in coke and hookers! :pac::pac:

Ouch, i intended to invest in bitcoin 5 or 6 yrs ago but life was busy, if only :eek:

GreeBo · 12-12-2017 6:14pm

banie01 wrote: »

It would depend on what "stability" means.
To my mind, its uptime and coping with peak demand.
In a market of hundreds of exchanges, price propogation isn't immediate and there is huge variation across the main markets even at times of low volatility.

my "Stability" comment isn't focused on core pricing but rather market access that can impede the ability to take advantage of the price variations

I'm not talking core pricing either, Im purely talking exchange stability/access coupled with confirmation times.

If /when that stabilizes, there will be no massive arbitrage opportunites as there are today.

Truckermal · 12-12-2017 6:51pm

I sold 18 of my 23 for €230 each after paying €111 on sunday, I kept 5 for the long term.

dan786 · 12-12-2017 6:54pm

Truckermal wrote: »

I sold 18 of my 23 for €230 each after paying €111 on sunday, I kept 5 for the long term.

Looking to do something similar. But I only bought 6.5 coins at around 90ish each.

Just bought another now at 300 making it 7.5. Have a feeling its going to hit 500 by end of tomorrow. So will hold out till then.

Will sell 2.5 then for 1250 and keep 5. Fingers crossed.

Dohnjoe · 12-12-2017 7:12pm

Truckermal wrote: »

I sold 18 of my 23 for €230 each after paying €111 on sunday, I kept 5 for the long term.

I understand selling to cover the initial investment but I never get why people sell them to make peanuts or small margins knowing how profitable these can be in the long run

Yes I get the whole trying to make a quick buck, but everyone knows the cryptocurrency stories by now - the friend who bought a couple of bitcoins for nothing back in whenever, kept them and now they are worth 80 grand.

No one knows which way the market with go, but these things could be worth a couple of grand a piece in a few years. This time last year, Bitcoin was worth 700 euros, it's gone up x20. Litecoin was worth 3 euros, it's gone up almost x100.

Whatever people think about cryptocurrencies, the money they can be cashed out for is very real. Based on everything we know so far, long term holding seems to be the most profitable by order of magnitudes.

papu · 12-12-2017 7:20pm

Dohnjoe wrote: »

I understand selling to cover the initial investment but I never get why people sell them to make peanuts or small margins knowing how profitable these can be in the long run

Yes I get the whole trying to make a quick buck, but everyone knows the cryptocurrency stories by now - the friend who bought a couple of bitcoins for nothing back in whenever, kept them and now they are worth 80 grand.

No one knows which way the market with go, but these things could be worth a couple of grand a piece in a few years. This time last year, Bitcoin was worth 700 euros, it's gone up x20. Litecoin was worth 3 euros, it's gone up almost x100.

Whatever people think about cryptocurrencies, the money they can be cashed out for is very real. Based on everything we know so far, long term holding seems to be the most profitable by order of magnitudes.

They could also become suddenly worthless, or all drop to a small fraction of the value they are now.

GreeBo · 12-12-2017 7:25pm

Dohnjoe wrote: »

I understand selling to cover the initial investment but I never get why people sell them to make peanuts or small margins knowing how profitable these can be in the long run

Yes I get the whole trying to make a quick buck, but everyone knows the cryptocurrency stories by now - the friend who bought a couple of bitcoins for nothing back in whenever, kept them and now they are worth 80 grand.

No one knows which way the market with go, but these things could be worth a couple of grand a piece in a few years. This time last year, Bitcoin was worth 700 euros, it's gone up x20. Litecoin was worth 3 euros, it's gone up almost x100.

Whatever people think about cryptocurrencies, the money they can be cashed out for is very real. Based on everything we know so far, long term holding seems to be the most profitable by order of magnitudes.

I guess thats why he kept the 5 of them?

The Litecoin Thread

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