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Bitcoin prices hit new record high of over $2200 (10/13 Update: peaked at $5,829)
- Thread starter XiaNaphryz
- Start date
Earthbound64
Banned
Yes. They list the fees for all transactions.
BTC withdrawal fee is 0.0002BTC.
XBY withdrawal fee is 100XBY.
PastorOfMuppets
Banned
That seems to be the strategy with every altcoin that isn't a major one. Look for something that costs in the pennies, buy it, wait for it to be listed on a major exchange, re-evaluate, sell the principal to get your money back and hope and pray it becomes the next Ethereum/Monero/ZCash/Dash/etc.
The one I got in early on was Komodo - KMD when it was like 8 cents. It's a private coin, setup as an alternative to Monero. Still hasn't been listed on one of the Big 2 exchanges (Poly and Kraken) but is trading at $1.08 last I checked.
cool, yeah Im still buying, because its not much risk right now. With decent potential to be big.
Earthbound64
Banned
Nah, you should invest it in EB64.
Seriously though, if I had $5k to spare, I would probably split it between ETH and XBY.
I could buy Morher3 for cheaper than that!
Earthbound64
Banned
But not those mysterious unlabelled blue 64DD disks.
(I did edit some real advice into my previous post too)
$5k is kind of a lot to put in a single penny altcoin. I would say max $1k in something like XBY, but up to you. Consider how you'd feel if it all went poof, and then decide.
Slayer-33
Liverpool-2
Jesus Christ, this jumping through hoops to put an instant payment method is annoying as ****
Screwed up on an atm card verification because I put 1.00 as one of the amounts charged now they want me to wait 24 hours to the the same shit again. Because it's the daily limit. SMFH
(coinbase)
Screwed up on an atm card verification because I put 1.00 as one of the amounts charged now they want me to wait 24 hours to the the same shit again. Because it's the daily limit. SMFH
(coinbase)
I'm pretty sure there will be more coins that explode over the next year. Stratis looking good (trades on Bittrex). Tezos maybe, once it launches. Neither is likely to suddenly disappear without warning.
just fyi, it seems that coinbase is having issues with their card verification. I couldn't get verified even with the right amounts and had to contact CS and they gave me new amounts to put in.
I would contact CS instead of going through the pain I went through :V
Slayer-33
Liverpool-2
No I'm saying that these people had a separate third charge (first one made) for 1.00 that isn't part of the verification process when inputting the two amounts. I fucking read it in the FAQ after getting screwed over for 24 hours. They KNOW about this issue and don't give a warning beforehand.
Having to wait 24 hours before retrying to re-verify is ridiculous.
-edit- nm used another card.
I personally don't think there's a long term future in a coin based on, and named after, a meme. Can you picture any mainstream merchants accepting Dogecoin? I can't. Maybe there's potential for some appreciation there in the short term, as with most cryptos right now, but I don't see that one lasting. For me there has to be some sort of compelling use case for a coin to exist. A joke isn't a good enough reason for me.
Pestilence11
Member
Wondering this myself.
yeah saw the 3 coinbase charges yesterday when I did this. But at the time I noticed the first one is a 1 dollar CREDIT not a charge. But they never mention this before hand. Only noticed because my bank put the credit as a different color than the 2 later charges.
Makes a ton of sense. You seem real versed judging in your post history. Any other advice on distributing $5k?
$1k to XBY
$4k to..?
My crypto portfolio is currently ~99% ETH and the rest XBY, so to be consistent with that, I would say put all the rest in ETH while it's in the $216-$220 range. It seems to be swinging between that during the day, and $225-$230 overnight (Eastern time) for the time being. $300 by the end of June is possible, and $400 by the end of the Summer. A price of $1000 for ETH by the end of 2018 appears to be achievable. There will be some wild swings between now and then. Trying to time them has a high potential to backfire. Some people can get it right and increase their stacks. I don't consider myself to be one of those people. Unless there is some truly horrible news, if you plan to hold for years, try your best not to be scared by big dips. Usually it's just a few people with huge piles of ETH trying to artificially suppress the price to pick up more on the cheap. Remember ETH was once a cheap altcoin so there are likely some people out there with 100000 units of ETH, and a bunch with 10k. Don't blame me if it all goes to hell though.
I also plan to try to put a bit in the Tezos ICO whenever it happens, which could be sometime this month. I'm sure I'll miss out on some amazing opportunities but such is crypto.
Slayer-33
Liverpool-2
I like this dude, sound thought process.
Also don't put in what you aren't willing to lose. I just bought $200 worth of BTC with the intent to put all of it towards XBY. No guts no glory, payout will be huge if this thing takes off, I plan not to touch this thing for a year. Lets see where we are next year at this time.
Fantastic advice, thank you.
What is your genuine read of XBY? Can you realistically seeing it blowing up?
I can see XBY hitting $1 this year, and $10 in 2 years if the devs keep up their current pace, just comparing trajectory to something like Stratis. I can also see it evaporating completely. I plan to re-evaluate once it gets listed on Bittrex, which has to happen for any significant growth to occur. Until then, I'll just hold it. The project is super early. Don't expect to retire off of it in 2017 let's say.
Earthbound64
Banned
To be honest, if it hits $1, I'd easily cash out my ~$100 put in, into $2500 out.
Of course, then I'll hate myself a year later if it could have been $25,000
Although, frankly, I'm probably going to put it back into ETH either way.
I'm just hoping XBY takes off (relatively speaking) before ETH is out of reach.
For $100, this is pretty fun.
This, of course, is the key thing.
PastorOfMuppets
Banned
Dogecoin was originally intended to create a positive community and the crypto is meant to be used as a way of tipping people for positive contributions to the community. It's more of an introduction to cryptocurrency that a long term solution for anything. The guy who developed it was turned off by the toxic community of Bitcoin and didn't believe that hoarding a currency was good for the economy so he created a coin based on a meme and made it inflationary so people wouldn't have any incentive to just horde it. It's actually designed to be so worthless that it encourages people to tip and give it away to charity.
As an investment, you're right it's bad. It's not the intention of the coin though.
Earthbound64
Banned
Good time to buy some more.
dmix90
Member
I can't believe i put 3 weeks worth of pizza orders in a currency with a homepage written by 9 y/o and without clear explanations wtf it actually is and how it's supposed to do something useful.
But whatever lol, it's fun to watch some int's and floats go up and down and it's time to reduce weekly dough intake
But whatever lol, it's fun to watch some int's and floats go up and down and it's time to reduce weekly dough intake
dumb question
why are the USD buy and resale values for xby different?
By default, the Price per XBY Sell value is whatever the current high buy price is. IE - there's someone currently willing to pay 2.1 cents per XBY.
By default ,the Price per XBY Buy value is whatever the current high sell price is. IE - there's someone currently willing to sell their XBY at 5.6 cents per XBY.
The purpose of these defaults is to let you know what limits you would need to set to either immediately sell or buy XBY. It's like letting the community know what your buy/sell threshold is. You can change it to whatever you want, but you'll ultimately need to rely on someone else willing to buy/sell at the price you set.
Lilalaunebaer
Member
dumb question
why are the USD buy and resale values for xby different?
It´s just the sell and buy orders from people that they have put up.
You can only sell for what other people are willing to pay. And the other way around.
Thanks!
Guess it just seems odd to me that the values are different. How can something be bought for $2 but the resale value on the same stock a moment later is just $1
Earthbound64
Banned
Well, by leveraging BTC, I got my XBY from 2500 up to 2957 without putting any actual money in.
Definitely more interesting than a game of cards at a casino.
Definitely more interesting than a game of cards at a casino.
That is up to the devs. Maybe September/October.
Yankee Ruin X
Member
I have joined the bandwagon finally, signed up on Coinbase and Kraken waiting for verification. Once verified I'm going to hold off buying anything until there is a nice dip on either ETH or BTC and then jump in.
If there a really nice easy guide to follow anywhere for this kind of stuff? Have been reading about it all day and I still feel none the wiser.
Someone needs to setup an OT for this stuff so we can all be millionaires.
If there a really nice easy guide to follow anywhere for this kind of stuff? Have been reading about it all day and I still feel none the wiser.
Someone needs to setup an OT for this stuff so we can all be millionaires.
Earthbound64
Banned
Yep I would like to see the cryptocurrency get its own OT. I would do it but I am just a novice in this field.
Aztechnology
Member
What are the thoughts on mining Monero vs Ethereum?
Aztechnology
Member
Right but it's seems odd no that you are buying at 5.6 cents per XBY yet you cannot sell your own at 5.6 cents per?
You can sell at 5.6. It's just the default value. Put in 5.6 and likely someone will buy it at 5.6 immediately as it will fill a buy order.
Lilalaunebaer
Member
Those prices in the jpg are the buy and sell orders people have put up.
You yourself can put up a sell order for 10 cents if you want and wait for someone to buy.
People are just putting up high sell orders and low buy orders in hope get more money or get more coins for less. All part of the game.
Quoting myself.
Use those bitcoins to buy whatever other alt you want. Seems to be the most profitable way to mine right now.
Earthbound64
Banned
Oh snap.
Again, those are the immediate buy and sell prices. What that means is that if you *really* want to make an immediate transaction, the lowest price you can currently buy XBY is at 5.6 cents per because there's literally someone willing to sell them at that price.
Conversely, if you *really* want to sell any XBY you have, the most anyone out there is willing to pay right now is 2.1 cents per.
This isn't a retail store. You're making an offer to either buy or sell and your transaction will only complete once you find someone else willing to buy or sell whatever your limits are. Obviously, you'd rather pay 2.1 cents per XBY and that person who put in that order is hoping that some sap will bite. The same is true for the person selling at 5.6 cents per.
Have you ever seen ticket scalpers on the street? Some of them ask to buy any spare tickets you have for a fraction of the price you paid. Others (their partners, no doubt) sell those same tickets at a mark-up. That's exactly how this system works.
Incorrect. The current high buy order is 2.1 cents, not 5.6. 5.6 is the current high sell order.
Borboleta Amarela
Member
Been following this thread and have a few questions:
- Using Jaxx, after depositing my ETH there from Kraken, are they definitely secure? I heard some people say that only with cold storage can real security be achieved.
- As for XBY, what's the secure way to store them? I've been searching but it appears there's no wallet for them at this point. Does that mean we have to leave them on the exchange website we use?
Thanks for the help! I'm really getting into all this cryptocurrency stuff. Let's hope I don't burn through my reserves...
- Using Jaxx, after depositing my ETH there from Kraken, are they definitely secure? I heard some people say that only with cold storage can real security be achieved.
- As for XBY, what's the secure way to store them? I've been searching but it appears there's no wallet for them at this point. Does that mean we have to leave them on the exchange website we use?
Thanks for the help! I'm really getting into all this cryptocurrency stuff. Let's hope I don't burn through my reserves...
Slayer-33
Liverpool-2
I did that, coinbase btc transfer to c-cex (will have to wait for the transfer to complete) and bought 6k worth of XBY lol... Holding for hopefully a long time.
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