Quote:
Originally Posted by jimmycooper
I understand why someone who believes in it's long term viability would want to buy and hold bitcoin for the long term but it looks like you guys are pretty much just swing trading. So why not just trade options? Why is bitcoin trading so much more appealing than trading something like high volume ETF options?
|
I wanted to start selling some bitcoin and resell locally on localbitcoin. I bought some with the intention of selling my bitcoin for a small markup. I saw this jump up, and went ahead and sold it back to coinbase. So I am like a reluctant swing trader.
If prices stabilize again in the 200 to 300 range, I may try to resell again. Sure I am gonna get a 1099 from Coinbase now.
I don't like to gamble myself, Especially against the computers Goldman, Citi, and the other have.
Not saying Bitcoin isn't being subject to price manipulation, But I am not in bitcoin for the swing trade.
And you can buy weed with it.