Some of you may know that lately, I have been doing some stuff with crypto-currencies and blockchains. One of those things is the trading between many crypto-currencies and the US dollar of course. As you will see, using the trades websites is a business for everyone. Business for us as traders but a business for the exchange with their fees. The first problem you will face, regardless your skills for trading is to know the Breaking Even Price.
The Breaking Even Price is the minimum or maximum price you need to sell or buy in order to have a zero profit when doing trading. This value will help you to prevent looses as trading is playing with money. Knowing this value is as easy as the division of the market currency by the quote currency after subtracting the fee. The fee may apply to the quote currency if you are buying or to the market currency if you are selling. Look the following examples:
Enjoy and happy trading!
Until you start trading more seriously you will realize how useful are all the graphs and metrics given from exchange sites such as Poloniex or Kraken. Now that I am coding my trading robot, one of my concerns is the ability of risk prediction. Taking a look into Market Depth graphics half-satisfy my need.
Read more: Understanding the Market Depth Graphs and the Pricing Changes
When you start doing mining, the last thing that passes through your mind is if it is profitable. When you start with it, it is more research than anything. Soon, you will realize that it could be profitable. And why not, today (May 2nd, 2017) Ethereum price is around 82 USD (116 CAD approx)!
In 2016, I was able to build a Mining Rig using Mageia. I must confess it was working, I was able to produce about 4 ETH's monthly. But at that time, ETH price was about 15 USD, and in December I decided to turn it off. It was not profitable at all, not to mention the negative cash flows it was producing.
One of the big issues of this activity is the negative cash flow it produces. Bills must be paid on time, in other words, the power bill. It will pass some days or months before you can cash your tokens. So, because of this, I will propose a way to decide when it is convenient to turn on your rig and when it is not. I will not talk about the technical aspects, for example when you turn on or off automatically the rig based on the Ethereum price.
Read more: Is It Profitable to do Ethereum Minning in Ontario, Canada?
Read about IT, Migration, Business, Money, Marketing and other subjects.
Some subjects: FusionPBX, FreeSWITCH, Linux, Security, Canada, Cryptocurrency, Trading.