Bitcoin: The Wild West of Trading
A short-term Bitcoin trader who goes by the alias ‘BTCVIX’ in featured in this episode.
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This isn’t a usual topic discussed on this podcast, but all traders will find some good takeaways from this episode.
BTCVIX discusses why he trades in Bitcoin markets when he used to initially trade stocks and options. He also goes in-depth into the landscape of Bitcoin. This includes how inflation is harded coded in the “ledger”, how Bitcoin is “mined” and what the real “counterparty” risks are.
In fact, he may change the way you think about consistency and how to understand non-linear outcomes when it comes to your trading results. He also talks about the deep realm of cryptocurrencies. That, and much more.
What’s Covered in This Interview:
- BTCVIX’s early trading career, which had him jumping between penny stocks, options and biotechs before focusing on Bitcoin.
- An explanation of what Bitcoin actually is, and why BTCVIX prefers to actively trade in teh Bitcoin markets.
- The concept of “Trader Amnesia”, which is an effective and simple idea that has helped BTCVIX go about each trade without bias.
- Who the key players are in the Bitcoin space.
- Why Bitcoin is better when it comes to traditional technical analysis.
- How thinking in a non-linear way when it comes to consistent profitability was a game changer for BTCVIX.
- What the advantages, barriers to entry and risks are when trading Bitcoin over listed markets.
- How news and different types of events can influence the price of Bitcoin.
- A quick history lesson on how Bitcoin was first used in the real world.
- How Bitcoin is “mined.”
Links and Resources:
- The Black Swan by Nassim Taleb – BTCVIX loves Nassim Taleb’s work, and this book was what got him to stop thinking in linear terms.
- Antifragile – Another book by Taleb which focuses on helping readers thrive in uncertainty. BTCVIX suggests that all traders read this book.
- WhaleClub.org – BTCVIX is a founder member of this Bitcoin trading community, which features over 200 members from more than 25 different countries.
- Telegram Messenger – Use this alternative platform to be involved with the WhaleClub Teamspeak on any device you use.
- @BTCVIX – Follow BTCVIX on Twitter.
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