I have a question about trading. Bitcoin specifically, I recently obtained 1000 bits. I know it isn't much, but it is just sitting in an account right now. Coinbase to be exact.
I'm just learning all this stuff, so please have patience. But, if I have those 1000 bits, does that amount go up regardless of me having them "in the market" or does me having those bits mean I already have something in the market?
Do they need to be somewhere specific to go up in value, or does it go up in value even if it sits there in the coinbase account? The reason i ask this, is because I wasn't sure if bitcoins act the same way as stock or currency even though it is technically currency.
What do you feel is the best method of turning into cash currency? I am not going to right now, I'm just asking down the road.
Cameron Reyes
What?
Mason Stewart
wtf are u saying user?
Daniel Torres
If your gold isn't in Fort Knox it doesn't increase in value with the rest of the gold, that's why the government built it. Gold only increases in value after being exposed to the yellow sun, then stored in a secure facility. If you leave your gold in your house, it gets old.
Ethan Turner
1000 BITS!!!
Asher Bell
...
Andrew Gutierrez
uh if your using coinbase you gotta put it here copy this and send it here its the coinbase safe wallet thing copy this >1KHnWdwq5X6tRHjuei9j9c1kNws7CosgQs i too like big bang theory
Xavier Williams
cmon man, he might take it seriously sarcasm isnt too strong Anyways you dont need to store it at any specific exchange/place to get them to increase in value To cash out you can use exchanges such as gdax or maybe localbitcoins.com
Eli Howard
cmon man, he might take it seriously sarcasm isnt too strong Anyways you dont need to store it at any specific exchange/place to get them to increase in value To cash out you can use exchanges such as gdax or maybe localbitcoins.com
Matthew Adams
>bits they are called satoshis. they are only worth whatever the current buy offer is you shouldn't store them on an exchange, however, sending them to a different incurs a high fee nowadays. If you keep your money on an exchange its not really securely in your possession.
Brayden Cooper
So sitting in coinbase means it will not go up in value along with bitcoin's value? So I need some sort of "buy" order like in forex?
That is how I should have put my question originally.
Isaac Sullivan
Fuck man. Why did the normies have to come. This sucks
Carter Roberts
>1000 bits new meme
Ryder Reed
The normies buy your bags and pump btc user. Have some appreciation.
Alexander Barnes
It's exactly the same as the value of anything. If it's value is $10000 that's it's value. If the price drops to $9000 that's the value. Your making it way to complicated for yourself.
Austin Perry
Right, but do I need to have a "buy" order, or the fact that I have it means the value of those 1000 bits will go up as bitcoin's value goes up?
The reason I ask, is because in forex, you have to have a buy order in order to trade and have something go up in value. Just have $1000 in forex doesn't mean your money is going up in value. You have to have a buy/sell order and wait for the fluctuation to happen before you can profit from an increase/decrease in value.
Levi Barnes
No you dont have to do anything. Its exactly the same as a stock. Those 1000 satoshis are your "shares" in the stock, and the price of those shares fluctuate with the total price of the stock.