Yep, the GAF OT thread got me into crypto.
Still fairly deep into ETH, LTC, and BTC. Would ideally like to make some $$ from these before getting into the smaller coins.
Still fairly deep into ETH, LTC, and BTC. Would ideally like to make some $$ from these before getting into the smaller coins.
ETH has a few paths forward. If it's going to break out of a triangle it has been forming since June, it likely has to do so by the end of November. Some upward movement around the week of Devcon at the beginning of November would make sense. We'll see if positive momentum is enough to overcome any sell pressure from the whale manipulators then. At least testing $350 around then is likely. If it does break hard upwards in the next month, I'm going to look to exit somewhere in the $450-600 range and sit out for a while. If ETH makes an ATH, jumping quickly beyond it is likely, as ETH would then start forming a newer long term pattern.
My personal opinion is that a Bitcoin exit in the $6000-7000 range would be a good place too. Even where it is now is probably a good sell long term. Logically, even if Bitcoin goes up more than that, the chances of it never seeing the $6000's, or the $5000's again, are zero, so at worst, you would be able to buy back in at your sell price if you're patient. At best, you can buy back lower. Bitcoin is so blatantly heavily manipulated, much more than ETH, that at some point there's going to be another Mt. Gox style crash. I hope to be out of crypto when that happens.
No thoughts on LTC other than to say that LTC's long term potential seems to be capped as a testbed for future Bitcoin upgrades. Not going to hold any LTC.
As for any other crypto assets, I'm not convinced on the long term value proposition of holding any. Short term trading to unload after a pump, sure, but as a multi-year hold, probably not. Very few crypto assets that were created in 2017 will still be worth anything in 2 years. Trade carefully.
My personal opinion is that a Bitcoin exit in the $6000-7000 range would be a good place too. Even where it is now is probably a good sell long term. Logically, even if Bitcoin goes up more than that, the chances of it never seeing the $6000's, or the $5000's again, are zero, so at worst, you would be able to buy back in at your sell price if you're patient. At best, you can buy back lower. Bitcoin is so blatantly heavily manipulated, much more than ETH, that at some point there's going to be another Mt. Gox style crash. I hope to be out of crypto when that happens.
No thoughts on LTC other than to say that LTC's long term potential seems to be capped as a testbed for future Bitcoin upgrades. Not going to hold any LTC.
As for any other crypto assets, I'm not convinced on the long term value proposition of holding any. Short term trading to unload after a pump, sure, but as a multi-year hold, probably not. Very few crypto assets that were created in 2017 will still be worth anything in 2 years. Trade carefully.
One of the biggest forces behind the Segwit2x fork of Bitcoin, Jeff Garzik, has announced Metronome, a direct Bitcoin competitor that will exist as a smart contract on top of other blockchains, like Ethereum. The smart contract will be auctioning off an initial issuance of the crypto asset, MTN, later this year, in exchange for ETH. According to the below articles, the ETH that is contributed will be retained by the smart contract to be used to prop up the price of MTN. That part of it is pretty vague. It's possible that this could result in a decent amount of ETH being (temporarily) taken out of circulation, regardless of the long term success of MTN. I don't have much of an opinion about MTN, other than to say that I have no plans to participate in any kind of ICO or smart contract auction.
Note that they plan to auction 8 million units of MTN, with a starting price of around $500 in an equivalent amount of ETH, with the price dropping over the course of the auction. At a maximum valuation, this would lock-in around $4bil worth of ETH into the smart contract. Such an action could have some significant effects on ETH and the crypto markets as a whole.
For more initial info on this see here:
http://fortune.com/2017/10/24/bitcoin-metronome/
https://www.bloomberg.com/news/articles/2017-10-24/bitcoin-pioneer-says-new-coin-to-work-on-multiple-blockchains
Note that they plan to auction 8 million units of MTN, with a starting price of around $500 in an equivalent amount of ETH, with the price dropping over the course of the auction. At a maximum valuation, this would lock-in around $4bil worth of ETH into the smart contract. Such an action could have some significant effects on ETH and the crypto markets as a whole.
For more initial info on this see here:
http://fortune.com/2017/10/24/bitcoin-metronome/
https://www.bloomberg.com/news/articles/2017-10-24/bitcoin-pioneer-says-new-coin-to-work-on-multiple-blockchains
By Kuro Go To PostVertcoin has a lot of potential for its asic resistance
That’s what people were saying about litecoin when I was mining it in 2013. Eventually though the old saying of “where there’s a will, there’s a way” rang true. I’m going to have to look into vertcoin now though :)
Wish I stuck in the crypto game and held, oh well, hindsight is a bitch and there’s no time like the present.
So, Segwit2x is coming to Bitcoin on November 16, or thereabouts. Where things currently stand is that the majority of miners appear to support it, while the majority of users (based on Bitcoin futures prices) support Bitcoin core. Segwit2x wants bigger blocks, but still much smaller than Bitcoin Cash has, while Bitcoin core thinks bigger blocks could in theory put the censorship-resistant properties of Bitcoin at risk. Segwit2x values faster transaction speed and reduced transaction cost over that theoretical risk. Bitcoin core appears to be ok with Bitcoin being slow and expensive for the users who are transacting on it for the foreseeable future.
The Segwit2x fork does not have replay protection because that side believes they are upgrading Bitcoin. They don't want two coins at all, just a faster Bitcoin. The result of that could be that Bitcoin core loses so much hash power that it is rendered more or less unusable. What the Bitcoin core developers would do when faced with that situation is unknown. They could capitulate, or they could fork Bitcoin again to adjust the difficulty. There could be some serious unintended consequences to such a step.
I think most people are pricing Bitcoin higher than Segwit2x Bitcoin due to name recognition, and not anything to do with the technical differences. When the fork happens, if it is apparent that Segwit2x is faster and cheaper, and is still the same chain as Bitcoin due to no replay protection (very different from the Bitcoin Cash fork), and Bitcoin core slows to a crawl, end users may very well demand that the Segwit2x Bitcoin be the real Bitcoin.
Ultimately, I think it will come down to whether end users ever understand any of this in enough numbers to be able to make an informed decision about it. Despite the debate just being about 1MB or 2MB block sizes, this fork is so incredibly complicated for the average user to understand that the end result may be that Bitcoin core remains Bitcoin, to the detriment of most end users' interests. The Bitcoin community has done an absolutely terrible job communicating any of this to the average non-technical end user, who is responsible for a lot of the price runup this year, and stands to be harmed by the infighting. Just very unprofessional all around in my opinion.
The Segwit2x fork does not have replay protection because that side believes they are upgrading Bitcoin. They don't want two coins at all, just a faster Bitcoin. The result of that could be that Bitcoin core loses so much hash power that it is rendered more or less unusable. What the Bitcoin core developers would do when faced with that situation is unknown. They could capitulate, or they could fork Bitcoin again to adjust the difficulty. There could be some serious unintended consequences to such a step.
I think most people are pricing Bitcoin higher than Segwit2x Bitcoin due to name recognition, and not anything to do with the technical differences. When the fork happens, if it is apparent that Segwit2x is faster and cheaper, and is still the same chain as Bitcoin due to no replay protection (very different from the Bitcoin Cash fork), and Bitcoin core slows to a crawl, end users may very well demand that the Segwit2x Bitcoin be the real Bitcoin.
Ultimately, I think it will come down to whether end users ever understand any of this in enough numbers to be able to make an informed decision about it. Despite the debate just being about 1MB or 2MB block sizes, this fork is so incredibly complicated for the average user to understand that the end result may be that Bitcoin core remains Bitcoin, to the detriment of most end users' interests. The Bitcoin community has done an absolutely terrible job communicating any of this to the average non-technical end user, who is responsible for a lot of the price runup this year, and stands to be harmed by the infighting. Just very unprofessional all around in my opinion.
By Kidjr Go To PostI have it on very good rumour, amazon are going to be accepting bitcoin very soon.https://www.polygon.com/2017/12/6/16742622/steam-ends-support-bitcoin-volatility
lol
By HasphatsAnts Go To Posthttps://www.polygon.com/2017/12/6/16742622/steam-ends-support-bitcoin-volatility
lol
this is why i shouldnt gamble.
By Lupercal Go To PostIt's going to crash hard around Christmasi hope so, i need to feel better about myself.
By diehard Go To Postbtc up 27%
I could have bought this when it was like $200. WHY AM I SO STUPID
More like cautious. Hindsight is a motherfucker
lol at anyone who thinks after today that this is a viable currency and not a vehicle for speculative ends.
By HasphatsAnts Go To Postlol at anyone who thinks after today that this is a viable currency and not a vehicle for speculative ends.https://blockchain.info/unconfirmed-transactions
215299 unconfirmed transactions as of right now.
The entire debate within the community for the past two years has been why it hasn't been improved for actual use and that's why there has been forks and drama. The price continuing to go up regardless is shocking to me though. Now I'm kicking myself for not going equal parts ETH and BTC but the sentiment was so against bitcoin when I jumped in.
By Vlatko Go To Posthttps://blockchain.info/unconfirmed-transactions
215299 unconfirmed transactions as of right now.
The entire debate within the community for the past two years has been why it hasn't been improved for actual use and that's why there has been forks and drama. The price continuing to go up regardless is shocking to me though. Now I'm kicking myself for not going equal parts ETH and BTC but the sentiment was so against bitcoin when I jumped in.
ETH had huge momentum and saw stupid growth, had zero reason to fall, meanwhile Bitcoin had nothing but issues such as the fork, and suddenly ETH stagnated for months and bitcoin went to the moon
I'm over it. It's speculation so it is what it is. Only thing I can really suggest to others is to not sleep on ETH despite the stagnation.
By Dark PhaZe Go To PostETH had huge momentum and saw stupid growth, had zero reason to fall, meanwhile Bitcoin had nothing but issues such as the fork, and suddenly ETH stagnated for months and bitcoin went to the moonI agree, however what has shaken my confidence in ETH is that I've seen the same arguments in favor of ethereum be recycled for countless coins over the past year and a few have had similar rises (at least price wise). The corporate partnerships and support that attracted me to ethereum seems to have been diluted and attributed to other coins when earlier in the year it seemed like it was all going one way.
I'm over it. It's speculation so it is what it is. Only thing I can really suggest to others is to not sleep on ETH despite the stagnation.
Shits weird. Everyone believes they have it figured out or tries to rationalize market movements but it really doesn't make it any sense. Add the manipulation conspiracies in the mix and it gets even more fun.
By ForBeers Go To PostWhat the heck happened with Litecoin today?Coinbase was the top app on the App Store a little while ago so I’m guessing a lot of people went for the “cheapest” option. I know my friend did the same when he bought in a little bit ago.
ETH needs to explode past 600 already
Coinbase has launched an internal probe to identify whether its employees engaged in insider trading of Bitcoin Cash shortly before the cryptocurrency was officially introduced to the exchange yesterday. Increased trading led to a spike in Bitcoin Cash’s valuation, and just four hours after its introduction, Coinbase suspended trading of the digital currency.https://www.theverge.com/2017/12/20/16800940/coinbase-bitcoin-cash-fork-insider-trading-probe
Coinbase’s ethics policy prevents employees from “trading on ‘material non-public information,’ such as when a new asset will be added to our platform,” wrote Coinbase CEO Brian Armstrong in a Medium post today. That includes sharing that information with friends and family. In the hours before Coinbase added Bitcoin Cash to its exchange, the price of the cryptocurrency had already begun to rise. The price for a single Bitcoin Cash coin soared past $8,000, or more than double its price a day earlier.
By HasphatsAnts Go To Postthis is far more brazen than anything wall st.'s pulled in ages lmaooo
Shocker. Ethics codes in place of actual regulation lol
By Vlatko Go To PostI agree, however what has shaken my confidence in ETH is that I've seen the same arguments in favor of ethereum be recycled for countless coins over the past year and a few have had similar rises (at least price wise). The corporate partnerships and support that attracted me to ethereum seems to have been diluted and attributed to other coins when earlier in the year it seemed like it was all going one way.
Shits weird. Everyone believes they have it figured out or tries to rationalize market movements but it really doesn't make it any sense. Add the manipulation conspiracies in the mix and it gets even more fun.
the separation is in the speculation
ride these waves my god
By HasphatsAnts Go To PostWhat's happening to BTC this week is very cool and good for a currency imo.$40 transaction fees are good for reasons
Wondering how long I should ride these lows before a big buy in. Thinking 70/30 split on Bitcoin/Ether
there's no reason not to put a lot of money into XRP right now
gonna probably go 40/40/20 BTC/XRP/ETH tonight.
gonna probably go 40/40/20 BTC/XRP/ETH tonight.
I'm still jaded on XRP from when everyone was shitting on it at the beginning of the year but I underestimated the appeal of corporate partnerships and attractive "low" price
sorry shanks
sorry shanks
By Furyous Go To PostDP, what's a good place to buy XRP in USD that has fast verification?You can see all the places its available here but it'll probably be easier to buy ETH/LTC and exchange it for XRP rather than wait for verification on a new site if you already have an entry point.
By diehard Go To Postwhat exchange do you use, faze?
I have many. Kraken for xrp.
Not sure about optimal verification exchanges
good call on XRP faze, i was legit going to put money in it right when i saw your post. I had to wait to get verified so i missed out on a lot :(
By Fenderputty Go To PostWhat would happen if he wanted to cash out on 150 million?it would take a long ass time and probably be a pain but doable?
By diehard Go To Postit would take a long ass time and probably be a pain but doable?In Theory.
By diehard Go To Postit would take a long ass time and probably be a pain but doable?
By giririsss Go To PostIn Theory.
This is the response I get when I ask this. Like the fact that you could even refer to making 150 million as a pain should be indicative of something lol
By diehard Go To Postgood call on XRP faze, i was legit going to put money in it right when i saw your post. I had to wait to get verified so i missed out on a lot :(
do not worry about it
in fact do yourself a favor and don't even check on these funds for a year no matter how much you are tempted