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Trading Forex or bitcoin

Discussion in 'General Trading Forum' started by Daisy, Dec 10, 2013.

  1. Daisy

    Daisy

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    The value of bitcoin went up like to over one thousand dollars something per bit coin and it used to be around ten bucks back in the days. The value of bitcoin is rising very fast and many are trading it. Do you see it as more attractive than forex. Some have made over several hundred k on bitcoin investments in just a few years. Do you plan on trading bitcoin?
     
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  3. sindarin

    sindarin

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    LOL, you mistake forex as something like Alien, Bitcoin is currency even it is virtual, so it still included as Forex, because forex is like USD/JPY or even USD/BTC so it is same and i think we should close this thread already because there are few mistakes here, i also have plan to trade bitcoin but if that is approved by US, UK, Indonesia, and more countries at least 30 good countries, but it seems China does not want them.
     
  4. Dormis

    Dormis

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    What is bitcoin?
     
  5. Decub

    Decub

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    @Dormis, bitcoin is a decentralized virtual currency. Details here: http://en.m.wikipedia.org/wiki/Bitcoin

    @sindarin, I think that even if Bitcoin is introduced and paired with another currency, I'm kinda imagining what would be those factors that would determine its rise and fall since is a decentralize currency.
     
  6. riki143

    riki143

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    Hi i just try to register bitcoin today because i read some review about it. Sound great !!! but i think now is very hard to mining the bitcoin than forex. Any idea? ty
     
  7. sindarin

    sindarin

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    Maybe supply and demand, it is just like other currency which affected by demand and supply of the market, many traders really looking into this bitcoin because of the cryptography, and that was make it so great.
     
  8. Decub

    Decub

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    Yeah, I think it's the secured nature that gets a lot of people attracted to it since it lies within and you alone have access to your account therein. I feel that the problem this e currency would face is the tendency of lasting or remaining as a means of transaction. With the way the value sky rocketed, it might still fall back or the rate of price fluctuations might just be high.
     
  9. willy

    willy

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    I think we will still trade with forex as it is our addict and also because i soend three years of training with the currency pairs and the technical analysis of the currency pairs and studying and testing the strategies all of these causes tell me wait and continue with forex
     
  10. sindarin

    sindarin

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    After learn more about bitcoin i am understand it more than before, and after see it all i think they are really okay in forex but fall in the categoty of comodity just like Gold or Silver or Oil, which could be paired with other currency such as Dollar, Euro, or Pound.
     
  11. gkintl

    gkintl

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    Bitcoin is not a fiat currency (still not legal in many countries). Liquidity is very low. That makes it very much volatile. Unless and otherwise we have a huge capital base, trading in bitcoin will not be profitable. This is because those who trade in bitcoins have considerable reserves in hand. This makes it easy for them to take short position without any fear. It is better to consider bitcoin as an investment product. That will at least reduce the risk of large trading losses.
     
  12. Decub

    Decub

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    Trading bitcoin is still skeptical to a lot of people since there has not been any perfect claim of which category it should go, currency or commodities alike but just as @gkintl said, it is better seen as an investment, a long term investment at that.
     
  13. sindarin

    sindarin

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    Yeah the amount is so small compare to the other currency, and also we cannot mine it anymore later, because the concept is just like gold which could cannot be mined in many years later. and i agree if we think trade bitcoin in long term, because of the high volatility.
     
  14. kasual

    kasual

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    I am not familiar yet with bitcoin and how to trading it. And what makes the rate increase and decrease. However, bit coin is online currency and one of virtual currency which often use as payment for hyip and now ptc program. If require to choose, I am prefer forex trading since I know and involve in it long already.
     
  15. Pettyeve

    Pettyeve

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    Some people already saying bitcoin is a commodity. If it is a commodity, it will be traded under the commodities. And I am thinking that it will be possible because you can save bitcoin like the way you can be able to save other commodity so that you will be able to sell it when the price go up.
     
  16. Decub

    Decub

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    Yes, that's where it will most likely fall since there is no country that will see it as their own currency. It is more like a commodity that you own but can directly be converted to cash in dollars. My fear about trading with bitcoin would be a lot of instability because I feel that the rise and fall in value will increase once it is introduced in Forex.
     
  17. Svetlana Loboda

    Svetlana Loboda

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    Till now not! Because, I seem it’s not easy to manipulate the Forex market! But, it’s very much easy to manipulate the BTC! Frankly, I have enough doubt about the reliability of BTC.
     
  18. lioneld

    lioneld

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    Although I am not sure about the manipulating process; but I also avoid the BTCUSD! Because, it’s not stable trading instrument as like EURUSD or GBPUSD.