Message from @this_that5553
Discord ID: 398469518370013205
I have a very small position, most of the gains were already had but could see some more. Will prob sell just prior to fork after what happened with XVG. NEO looking good, XRP will probably keep pumping too.
@this_that5553 "BCH/BTC" is "how much BTC do I have to spend to get 1 BCH?" If you have BTC you want that number to go down, I'd you have BCH you want that number to go up.
oh fug
yep
btw its been going down :[
stablizing though
@ThisIsChris If you have BTC I wouldn't be terribly concerned if it went down. While there is some inverse correlation, I haven't noticed it to be terribly strict. BTC is becoming a medium of exchange for not only BCH but the vast number of altcoins available on the market. If you have only explored coinbase and GDAX you may want to check out Bittrex or Binance to familiarize with altcoins, if you haven't already. At this stage in the game, that's where the biggest profits are. :]
Wait “BCH/BTC” should mean “how many BCH per one BTC”
So if that number is high like 8, that means that if you buy BCH with BTC then you’ll get 8 times what you have with BTC.
So I do want that number to be high.
@this_that5553 BCH/BTC is about .158 now, so you need .158 BTC to buy 1 BCH, or equivalently 1 BTC will get you 1/.158 which is 6 and change BCH.
If you have BTC right now then you want BCH/BTC to be low.
Show me the number you’re looking at. Your rate number is reversed
“BTC/BCH” should be .158 while “BCH/BTC” is 6.03
If BCH per one BTC were low, then I’d get only a few more BCH with one BTC. But seeing that it is 6, I should get 6 times the coins
Yeah we’re saying the same thing. You want the price of BCH per one BTC to be low. But you want the number of BCH per BTC to be high
We’re just looking at different metrics
Yeah looks like it
@this_that5553 could be! Do you have any thought why BCH will go up soon?
Not sure. Other than people being able to actually use BCH for practical things
I think BCH will get its own address format soon though
It's own address format? What does that mean/do?
Right now it’s impossible to tell if someone sent you a BTC address or a BCH address. So communication has to be very clear and explicit
The bitcoin.com wallet account for this by having rollover functionality
Interesting points!
I was reading about iota yesterday. Looks awesome. Sad thing is that it’s so difficult to buy into some smaller coins
@this_that5553 yeah. Are you looking to buy more altcoins? Do you have a rough plan for how you approach what to buy and sell?
@ThisIsChris I am interested in buying coins with good uses that solve issues. It’s basically like stocks. You buy the stocks if it’s a good company with a use.
Something like XRP will spike but I don’t think they’ll take off. So with stuff like that, you are riding the speculation wave but practically they’re trash
That's great, thanks! I was curious where you were coming from. Looks like you are looking for long term investments?
Ripple has had a chance to get in bed with fintech and it hasn’t worked. They offer nothing to financial that they don’t already have. Except the ability to lose all holdings because of silly human error.
More than one year in the same spot?
Yes exactly. I don’t want to have to constantly monitor. In my mind, it takes too much to buy in and the chance of losing annoys me
BTC fees are %15 for crying out loud
Wow that's a lot.
Now you see why people are switching to alt coins haha
Cool well it looks like some solid thesis, good luck.
@here just a generic and friendly reminder to not risk money you can't lose. Also that no one here has a crystal ball and unforseen risks can arise.