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Bitcoin / Litecoin / Ethereum / alts discussion

What are you in?

  • Bitcoin

    Votes: 5 12.2%

  • Litecoin

    Votes: 5 12.2%

  • Ethereum

    Votes: 6 14.6%

  • Alts

    Votes: 2 4.9%

  • Nothing

    Votes: 19 46.3%

  • Carrots

    Votes: 15 36.6%
  • Total voters
    41
#142
GregC said:
It's not going to replace traditional currencies unless it gets far less volatile. And until it trades at the same price everywhere. Last week, it was $16K on one exchange and $19K on another. Just a mere $3000 difference.
Click to expand...
Quoting myself from the other thread. Still awfully volatile--and frothy.

Invalid Link Removed.

Invalid Link Removed plunged more than $1,000 in less than an hour Tuesday. The digital currency fell from $17,929 to a low of $16,912 between 3:30 and 4:30 p.m. ET, according to Coinbase, the leading U.S. platform for buying and selling major cryptocurrencies. Bitcoin had traded near $19,800 on Sunday.
The slump came just around the close of the U.S. stock market.

Tuesday was a wild day for stock traders focused on cryptocurrencies as signs emerged bitcoin mania is getting a bit out of control. The U.S. Securities and Exchange Commission temporarily suspended trading in shares of Invalid Link Removed, partly on Invalid Link Removed, while a Invalid Link Removed briefly soared more than 200 percent.
 
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#148
Whippet said:
crypto isn't going to go away for some time. Bitcoin due to the nature might get replaced by say something like Dash which is easier to use due to transaction speed.

That said at the end of the day, you are exchanging FIAT currency for digital currency then you make or lose money and covert it back to FIAT currency to get paid out.

That's like buying USD and converting it to JPY or EUR. All countries are printing money like mad. At the end of the day, you are trading paper for paper and the in the case of crypto, the medium of storage is digital, which is something equivalent to a bank. I am sure most of you get it but for those that don't, think of it as changing 3 dollar bills for 6 dollar bills. In the end you still get phony money.

Its most likely going to go up because the big fish in the ocean have not yet gotten involved. Rumors (take it as a rumor and not as a fact or even truth), the big institutions will get involved around 25,000USD.

So far the futures price was baked into all the recent rush in price. Soon when the big institutions get involved the price will most likely go up again.

Some day, if inflation goes out of hand people will realize that the solution isn't crypto for the people but a crypto for the government. A limited budget that is pegged to something. Now we used to have that with the gold standard. But that was inconvenient for the banksters and politicians.

Crytpo in this sense will not replace any major currency. Because limited printing is the last thing the world governments want. They want irresponsibility and control.

Major banks across the world are working furiously to get in on the crypto world. Most major banks are thinking of issuing their own crypto. This would depeg them from the interest rates that the government mandates onto them and allow to set their own interest rates. This means more customers who will park their money as crypto in their bank.

At the end of the day, if things go really bad in our economy / society, the only things that will help you are the G ASSESTS. G as in GOLD, GUNS, GIRLS, GRUB, GASOLINE. It helps to remember that and we all hope it doesn't get that bad. Crypto is still a part of the FIAT because it's valued in FIAT.

If anything crypto is changing the world. There is a lot more going on in the world than most people can even begin to think. Credit card companies are crapping bricks. Transaction fees are going to get phased out if crypto takes control. Communication companies are really in trouble. With whom do you think they are sleeping in bed? Communications, credit card, and banking are all in the same bed. They have a strangle hold and are able to literally set their own prices for each transaction. These companies know this. And who do you think allows these companies to do what they have been doing? Ask you local politician. LOL Some very rich people are getting very antsy lately.

It's all just the beginning. If it gets phased out due to government regulations and tax laws, it will still make a major dent in the corrupt and nepostic ways governments around the world think. That's always welcome in any country any time of the history.​
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I had to leave cursor in each paragraph and select colour = none from the halfmoon edit button
 
#150
Another +$764 for me via LTC. Wrote a small automation for trading and it worked rather well with the moderate swings tonight. Was pretty cool to watch it go. Extremely more aggressive than I'd normally let it go for anything other than a couple of hours without me watching it closely, so I cut it off and took my profit out. Pulling out of BTC, ETH, and LTC entirely in the next day or so and moving onto others like XMR and REP. Far too many folks thinking they're going to get rich quick with the very popular cryptos and they're driving the markets to insane volume which I'm done dealing with for the time being.
 
#152
MJ5150 said:
DOH!!!

Invalid Link Removed

-Mike
Click to expand...
:eek: Dayum. I don't know how someone accidentally throws away a hard drive with something potentially valuable on it. What I don't get is why he didn't try to cash some in sooner--even in February 2013, bitcoins were $22. So 7,500 bit coins were worth $165,000. I wouldn't just leave that sitting around.

The story I linked the other day about how to sell bitcoin said some exchanges limit your transactions to as low as $2500 per week. At that level, cashing out $127 million would take 973 years.:D

"Services like Coinbase impose varying weekly buy and sell limits to protect accounts. But the limits, which can be as low as $2,500, may make it hard to dump all your holdings at once."
How to sell bitcoin

Given these low limits and the sky-high price, we can just imagine the (virtual) pandemonium at the exchanges if Bitcoin really falls hard.
 
#153
GregC said:
:eek: Dayum. I don't know how someone accidentally throws away a hard drive with something potentially valuable on it. What I don't get is why he didn't try to cash some in sooner--even in February 2013, bitcoins were $22. So 7,500 bit coins were worth $165,000. I wouldn't just leave that sitting around.

The story I linked the other day about how to sell bitcoin said some exchanges limit your transactions to as low as $2500 per week. At that level, cashing out $127 million would take 973 years.:D

"Services like Coinbase impose varying weekly buy and sell limits to protect accounts. But the limits, which can be as low as $2,500, may make it hard to dump all your holdings at once."
How to sell bitcoin

Given these low limits and the sky-high price, we can just imagine the (virtual) pandemonium at the exchanges if Bitcoin really falls hard.
Click to expand...
You don't at all have to transact on any exchange, and some have much higher limits as well. You can always sell peer to peer, and at worst offer 5% off spot price to move them quickly. Moving 7,500 coins at 5% off would be a breeze P2P style - you could have buyers lined up in less than a week for all of them, and once the transaction fees are paid and processed, probably have every coin moved in 2 weeks or so.

CNN, or really any of the major news outlets is the last place I'd go for crypto news. So many of the news there is far too out dated as soon as it is published, and it's often incorrect or missing vital information. The major networks don't see to "get it" enough to report on it.
 
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#155
Selta said:
You don't at all have to transact on any exchange, and some have much higher limits as well. You can always sell peer to peer, and at worst offer 5% off spot price to move them quickly. Moving 7,500 coins at 5% off would be a breeze P2P style - you could have buyers lined up in less than a week for all of them, and once the transaction fees are paid and processed, probably have every coin moved in 2 weeks or so.

CNN, or really any of the major news outlets is the last place I'd go for crypto news. So many of the news there is far too out dated as soon as it is published, and it's often incorrect or missing vital information. The major networks don't see to "get it" enough to report on it.
Click to expand...
I know that was the lowest limit cited; I was using that in part for comic effect. That's good to hear about peer to peer transactions. The big caveat, though, is that in any red-hot market with a lot of people speculating/chasing returns, the list of potential buyers can quickly go from lengthy to quite short if the trend turns south.

Where do you go for reliable crypto news? I know the big guys can be behind the curve. On the other hand, just as with gold and other investments with "outsider" appeal, some sources are little more than cheerleaders.
 
#156
Generally, if you want to keep up with the news cycle for the day trading, you have to be in the active communities. the reddit ones aren't terrible, but, there's a lot of misinformation there. There's a few good folks to follow on twitter. Pretty much, if you want to keep up, gotta pretend it is just another penny stock... news comes and goes by the minute and has impact. If you just want to keep up in more general terms, CoinDesk, TechCrunch, CoinTelegraph are decent places.
 
#158
Invalid Link Removed

In a move that caused double takes on Wall Street trading floors and prompted comments on Twitter about how this must be the top of bitcoin mania, a little-known micro-cap stock called Long Island Iced Tea Corp. (LTEA) said Thursday that it's now "Long Blockchain Corp.," and its stock leaped more than 200 percent at the open of trading.

The Farmingdale, New York-based beverage maker said in a release that it is "shifting its primary corporate focus towards the exploration of and investment in opportunities that leverage the benefits of blockchain technology."

The company, however, is still going to make iced tea and other juice beverages, it said.
 
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#159
Alkali Ike said:
Invalid Link Removed

In a move that caused double takes on Wall Street trading floors and prompted comments on Twitter about how this must be the top of bitcoin mania, a little-known micro-cap stock called Long Island Iced Tea Corp. (LTEA) said Thursday that it's now "Long Blockchain Corp.," and its stock leaped more than 200 percent at the open of trading.

The Farmingdale, New York-based beverage maker said in a release that it is "shifting its primary corporate focus towards the exploration of and investment in opportunities that leverage the benefits of blockchain technology."

The company, however, is still going to make iced tea and other juice beverages, it said.
Click to expand...
I saw this and thought it was an Onion article at first. Amazing. Feels very March 2000 to me.
 
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#160
I'm totally out of BTC and LTC at this point. Going in on Ripple and Monero a bit as I like what I've read and see happening with those two. There's a few others I tossed some play money at and will likely forget about until they hit the news, or I find out they tank completely.
 

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