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[Drifters]

Talks about the impending Bitcoin bubble....
https://arstechnica.com/tech-policy/2017/10/explaining-the-new-cryptocurrency-bubble-and-why-it-might-not-be-all-bad/1/

 

[Brohan]

ARK ; ; , starting to get weak hands...

 

[DrM]

This ARK pullback is still baffling. The team really needs to make an effort to get on some more exchanges to help combat major slides after whale manipulation.

Yeah, it is quite painful to watch, even though I am still in a green, got majority (75%) of my stack when it was sub 30k... and I agree, they need to get on more exchanges, Bittrex is now whale feeding ground, with buy zone between 55k and 58k.

 

[Brohan]

How far do you guys think it's going to pull back?

 

[pieface]

ARK ; ; , starting to get weak hands...

Now is the time to hold. 100k+ was the time to sell.

https://www.coinigy.com/assets/img/charts/59d5c9fcb58b3.png

The next upward trend will be huge, just sit on it for now and try to sell at the peak next time to buy back lower.

Remember, you've lost nothing til you sell.

Selling now is exactly what whales want you to do before they start the next uptrend.

Buy in red, sell in green. Always do this

I'm about to buy more, might get some SALT or OMG tho too as have none of these atm.

The whole market is about to get really shitty in my opinion, brace yourselves and buy the dips.

 

[Brohan]

Now is the time to hold. 100k+ was the time to sell.

https://www.coinigy.com/assets/img/charts/59d5c9fcb58b3.png

The next upward trend will be huge, just sit on it for now and try to sell at the peak next time to buy back lower.

Remember, you've lost nothing til you sell.

Selling now is exactly what whales want you to do before they start the next uptrend.

Buy in red, sell in green. Always do this

I'm about to buy more, might get some SALT or OMG tho too as have none of these atm.

I think i would have tried to sell when it was 100k+ but i was sitting under a palm tree and sipping from a coconut and by the time i came back it was down to about 65k .XD

And thanks for the reassurance. I know it's a waiting game but it's quite painful to watch it keep going down further..

Maybe i should double down instead and buy some more when i have some money again.

 

[pieface]

I think i would have tried to sell when it was 100k+ but i was sitting under a palm tree and sipping from a coconut and by the time i came back it was down to about 65k .XD

And thanks for the reassurance. I know it's a waiting game but it's quite painful to watch it keep going down further..

Maybe i should double down instead and buy some more when i have some money again.

Doubling down is a good shout.

Ultimately, you have to do what you think is best.

But I saw a pretty rough time but held all the way through and it all turned out okay. If you look at the chart I posted in my previous post, look at July 10th.... that's when I was absolutely shitting myself and thought I made a huge mistake. Then look what comes after

 

[The Rizza]

Now is the time to hold. 100k+ was the time to sell.

https://www.coinigy.com/assets/img/charts/59d5c9fcb58b3.png

The next upward trend will be huge, just sit on it for now and try to sell at the peak next time to buy back lower.

Remember, you've lost nothing til you sell.

Selling now is exactly what whales want you to do before they start the next uptrend.

Buy in red, sell in green. Always do this

I'm about to buy more, might get some SALT or OMG tho too as have none of these atm.

The whole market is about to get really shitty in my opinion, brace yourselves and buy the dips.

Yep, loading up on some more fiat to put in the system to capitalize on these dips

 

[Donos]

Why are you sweating ARK? Whole market is similar down.
When everything goes green, ARK will go too. Probably more than some other coins, is my bet. Meanwhile you get more of them for free.

 

[TheLostBigBoss]

Why are you sweating ARK? Whole market is similar down.
When everything goes green, ARK will go too. Probably more than some other coins, is my bet. Meanwhile you get more of them for free.

It's lost half of it's value over the previous ATH

My guess is people bought during the growth and have lost value.

I'm not worried, thinking about dumping another grand into it, we'll have to see.

 

[pieface]

It's lost half of it's value over the previous ATH

My guess is people bought during the growth and have lost value.

I'm not worried, thinking about dumping another grand into it, we'll have to see.

That's the way ARK has always been. Reaches new ATH, retraces 50-60%.

Will more than likely happen next time too. I plan to try and capitalise on this pattern.

 

[csquared587]

That's the way ARK has always been. Reaches new ATH, retraces 50-60%.

Will more than likely happen next time too. I plan to try and capitalise on this pattern.

Im debating adding more to my stack as well here. Still in the green on ark(slightly), but I'm not feeling brave enough atm. Probably just sit on my position.

 

[DrM]

Is Ripple already pumping up before their conference?

That's the way ARK has always been. Reaches new ATH, retraces 50-60%.

Will more than likely happen next time too. I plan to try and capitalise on this pattern.

I am speculating a bit, but I think that with next upswing top level could be in a region from 120k - 180k

 

[pieface]

Is Ripple already pumping up before their conference?



I am speculating a bit, but I think that with next upswing top level could be in a region from 120k - 180k

Yeah, it'd like to see it hit 150k and then retrace and bottom out at about 80k (ish)
Then up to 200k and down to 100k.

 

[commish]

Man, BTC can be sooooooooooooooooooooooooo slowwwwwwwwwwwwwwwwwwww. I sent some BTC from GDAX to Bittrex and it's been pending forever.

 

[Donos]

Since i have waited almost 48 hours for a BTC transaction once, i have never used that again. I always convert to ETH or LTC for transfers.

 

[commish]

Since i have waited almost 48 hours for a BTC transaction once, i have never used that again. I always convert to ETH or LTC for transfers.

Yeah, I usually use LTC because it's fast and cheap. I just had the BTC already in this instance. It finally is showing on my pending tab. Took so many hours. Never again!

 

[Domino Theory]

Litecoin on sale, Ark on sale, ELIX still being an infant crypto - so delicious! #gains

 

[commish]

I feel like AEON is one of the biggest bargains atm.

 

[Cipherr]

Wow I just read the plan 2x has to not enable strong replay protection in order to hopefully trick people into basically losing their bitcoin.

Thats pretty fucking low.

Mad because no one takes your fork seriously?

Mad because everyone looks at your fork the same way they looked at Bitcoin Cash: As "free money" they can sell off after the fork for more altcoins and BTC?

Mad because everyone viewing your fork as disposable means you have zero chance of taking over and becoming THE Bitcoin supplanting the traditional chain?

Then take aim at the unsuspecting crypto buyers and sellers. Trick them by not implementing strong replay protection so they lose godly amounts of their bitcoin in a trap you set when they sell off your shitcoin for profit.


Sure you still won't win.... But at least you pissed on the people who refused to 'vote' for you.

Take that.


Whew... some straight up immature bullshit there. Crypto has its issues, but this is the worst I have seen so far. Just straight up pointing the loaded gun at the innocents because if you can't win, NO ONE can.

 

[hwateber]

Hmm, definitely gotta do some more reading on this 2x fork. I haven't been keeping up with the news at all outside of the massive dump the market is taking.

On the other hand I just bought into OMG at 197k. Think it might drop more, but it's been on a heavy correction for a while. Also mulling over grabbing some ARK tomorrow too.

 

[Cipherr]

Hmm, definitely gotta do some more reading on this 2x fork. I haven't been keeping up with the news at all outside of the massive dump the market is taking.

Please do, just to make sure you don't lose any Bitcoin you hold. This should be on all the crypto podcasts and YT videos, but only a few have covered it so far like IvanTech.

Maybe more outlets will start doing a big FYI as we get closer to the split, but damn, there's going to probably be a bunch of people losing money that don't know.

 

[DonMigs85]

NEO is unlocking 50 million tokens later this month, wonder if that'll drive the price down or if it's already factored in.

 

[DonMigs85]

COSS blowing up, but it's not on any exchange that I'm on, booo

 

[tzare]

So what is this 2x thing exactly and , being a rookie, what are we supposed to do? Wait? Keep BTC in a exchange? or a local wallet?
I have almost nothing ,my porfolio is only worth 300€ , BTC, ARK mainly.

 

[Tk0n]

haha., someone just bought 47 Authorship tokens for the price of 0,01 btc per token.
etherdelta strikes again.

 

[gaming_noob]

Please do, just to make sure you don't lose any Bitcoin you hold. This should be on all the crypto podcasts and YT videos, but only a few have covered it so far like IvanTech.

Maybe more outlets will start doing a big FYI as we get closer to the split, but damn, there's going to probably be a bunch of people losing money that don't know.

So, for those who have used up all of their BTC on altcoins they're relatively safe? (fully aware all alts are temporarily going to drop when the fork hits)

 

[tzare]

Btw ATS is at 0,25€ right now lol

 

[Donos]

haha., someone just bought 47 Authorship tokens for the price of 0,01 btc per token.
etherdelta strikes again.

That's probably why blockfolio exploded and showed me 1900% gains on my ats. Lol

So the 0,25 cents are not a glitch? Blockfolio sometimes shows false units when token is linked to Etherdelta.

If that's really the case, let's see if I'm fast enough selling that shit (or anybody is willing to buy it)

Edit:ATS back at normal price.

 

[Donos]

whoops. DP.

 

[Drifters]

Good read on the split
https://motherboard.vice.com/amp/en...-fork-aims-to-take-power-away-from-big-miners

 

[Donos]

Good read on the split
https://motherboard.vice.com/amp/en...-fork-aims-to-take-power-away-from-big-miners

On October 25 there may be three versions of the world's most popular and valuable cryptocurrency: Bitcoin, Bitcoin Cash, and Bitcoin Gold. Then, in November, another scheduled split will likely create a fourth version, which is currently only known as "Segwit2x." This fork could soon be... a rake?

So after October 25 there will be another pump in altcoins again since people want to profit from their duplicated crypto (BTC Gold) before it crashes in value.

 

[Drifters]

So after October 25 there will be another pump in altcoins again since people want to profit from their duplicated crypto (BTC Gold) before it crashes in value.

Correct. How I'm reading the split is as follows:

If you have $100 in $BTC today, the split will do the following:
- You will be given <= value of $BTC.G (or whatever it is called)
- With the pending fork, my assumption is that $BTC goes from 21 Million to 42 Miliion in circulation which is the point of the fork.
- Your $100 dollars is split 50/50: $50 in $BTC and $50 in $BTC.G or whatever it is called
- $BTC.Gold will become the currency platform for BitCoin while $BTC will become a "gold standard" to back $BTC.Gold even tho the naming convention is somewhat backwards.
- Alt coins will be having multiple issues because their values overnight will decrease by %50 due to being backed by $BTC today.
- No word anywhere that I have found on how exchanges will work as to accepting $BTC.G as the (or a) default medium for Alt Coins.
- After this supposedly happens, we then have a 5 coin Top Tier listing of: $BTC, $ETH, $LTC, $BTC.X and $BTC.G

If any of this is wrong, call me out but Crypto has an interesting few months ahead of it.

 

[CaptainZombie]

PIVX has been rising the last few days, I should have bought more. UGh!!!!

 

[gaming_noob]

If all alt coins value will be halved after this fork, would it be smart to dump now?

 

[PolishQ]

Correct. How I'm reading the split is as follows:

If you have $100 in $BTC today, the split will do the following:
- You will be given <= value of $BTC.G (or whatever it is called)
- With the pending fork, my assumption is that $BTC goes from 21 Million to 42 Miliion in circulation which is the point of the fork.
- Your $100 dollars is split 50/50: $50 in $BTC and $50 in $BTC.G or whatever it is called
- $BTC.Gold will become the currency platform for BitCoin while $BTC will become a "gold standard" to back $BTC.Gold even tho the naming convention is somewhat backwards.
- Alt coins will be having multiple issues because their values overnight will decrease by %50 due to being backed by $BTC today.
- No word anywhere that I have found on how exchanges will work as to accepting $BTC.G as the (or a) default medium for Alt Coins.
- After this supposedly happens, we then have a 5 coin Top Tier listing of: $BTC, $ETH, $LTC, $BTC.X and $BTC.G

If any of this is wrong, call me out but Crypto has an interesting few months ahead of it.

A 50/50 value split didn't happen with the most recent fork. The fork itself didn't seem to affect BTC's value (although there was some panic selling leading up to it that caused a price drop), and BCC became fairly valuable in its own right. My understanding was that if you held 1 BTC, after the fork you had 1 BTC and 1 BCC. At the time that meant going from ~$2500 to ~$3000 of total value.

Is there something different about this fork that would cause a different outcome?

 

[vehn]

so would it be good to convert everything into bitcoin, and sell whatever alt-bitcoin coin you get after the fork? Just like with BCC (something I didn't do when BCC came out)

 

[Slayer-33]

If all alt coins value will be halved after this fork, would it be smart to dump now?

so would it be good to convert everything into bitcoin, and sell whatever alt-bitcoin coin you get after the fork? Just like with BCC (something I didn't do when BCC came out)

.

? This

 

[Donos]

I'm going just of my memory but after the last fork (BTC cash), a lot of alt coins (especially the promising ones) got huge gains because of people changing their new gained BTC cash coins into alts, in fear that it rapidly would loose value.

If all alt coins value will be halved after this fork, would it be smart to dump now?

Alt coin value won't be halved.

 

[DonMigs85]

So I should sell all my alts into Bitcoin before the 25th eh? Then buy them back after

 

[syllogism]

So I should sell all my alts into Bitcoin before the 25th eh? Then buy them back after

Maybe, but it could also be better to sell way in advance before the bleeding begins and buy some undervalued alt coins right before the fork happens. Then again the bleeding has probably already begun.

 

[Slayer-33]

I'm going just of my memory but after the last fork (BTC cash), a lot of alt coins (especially the promising ones) got huge gains because of people changing their new gained BTC cash coins into alts, in fear that it rapidly would loose value.


Alt coin value won't be halved.

So HODL?

 

[dionysus]

Correct. How I'm reading the split is as follows:

If you have $100 in $BTC today, the split will do the following:
- You will be given <= value of $BTC.G (or whatever it is called)
- With the pending fork, my assumption is that $BTC goes from 21 Million to 42 Miliion in circulation which is the point of the fork.
- Your $100 dollars is split 50/50: $50 in $BTC and $50 in $BTC.G or whatever it is called
- $BTC.Gold will become the currency platform for BitCoin while $BTC will become a "gold standard" to back $BTC.Gold even tho the naming convention is somewhat backwards.
- Alt coins will be having multiple issues because their values overnight will decrease by %50 due to being backed by $BTC today.
- No word anywhere that I have found on how exchanges will work as to accepting $BTC.G as the (or a) default medium for Alt Coins.
- After this supposedly happens, we then have a 5 coin Top Tier listing of: $BTC, $ETH, $LTC, $BTC.X and $BTC.G

If any of this is wrong, call me out but Crypto has an interesting few months ahead of it.

I think you are wrong on many of these points. Forks do not work like stock splits. Your BTC will not halve. Its price will be determined by the market as always. You will just theoretically have a btc.g coin of dubious value for every BTC you have.

Alt coins are not backed by BTC they are priced in BTC. Huge difference. It is done this way because it is very difficult for exchanges to exchange alt coins for real currency directly. So they make you shoulder the cost of first exchanging to BTC, Ether, or LTC and then again shoulder the cost to go from those three to cash. If BTC halves due to some change in its prospects unrelated to the prospects of crypto in general, your alt coins will just double in value relative to BTC. (In reality alt coins and bitcoins somewhat move in sync as they are both affected by the future prospects of cryptos.)

Probably similar to bitcoin cash, exchanges will wait to see how popular and easy it is to directly exchange bitcoin gold directly to cash before they decide to support it.

 

[tzare]

How do you know the address of the wallet of the new 'BitcoinGold' or whatever it is called? How does that work?


Edit. I read that it is important to have BTC stored in a personal wallet, not an exchange?
Is that true?

 

[hwateber]

I'm probably just going to leave my btc on Bittrex this time around. If it's going to be added to any exchange with any considerable volume, it's probably going to be Bittrex. If it's anything like the cash fork, then transactions will be really slow. Might as well just ride the pump and sell it at the top while everyone else is scrambling to send it in for a dump

 

[Drifters]

A 50/50 value split didn't happen with the most recent fork. The fork itself didn't seem to affect BTC's value (although there was some panic selling leading up to it that caused a price drop), and BCC became fairly valuable in its own right. My understanding was that if you held 1 BTC, after the fork you had 1 BTC and 1 BCC. At the time that meant going from ~$2500 to ~$3000 of total value.

Is there something different about this fork that would cause a different outcome?

So the BCC was a fork of $BTC but added market cap of $1 Billion coins but had unique address right?-- The issue here is the fact that BTC Gold is in effect, increasing the market cap of $BTC itself which would use the same addressing, hence the price decrease due to increased volume.

I'm going just of my memory but after the last fork (BTC cash), a lot of alt coins (especially the promising ones) got huge gains because of people changing their new gained BTC cash coins into alts, in fear that it rapidly would loose value.



Alt coin value won't be halved.

My concern again is based on volume; If the market cap doubles, then the value of $BTC has to drop.

I think you are wrong on many of these points. Forks do not work like stock splits. Your BTC will not halve. Its price will be determined by the market as always. You will just theoretically have a btc.g coin of dubious value for every BTC you have.

Alt coins are not backed by BTC they are priced in BTC. Huge difference. It is done this way because it is very difficult for exchanges to exchange alt coins for real currency directly. So they make you shoulder the cost of first exchanging to BTC, Ether, or LTC and then again shoulder the cost to go from those three to cash. If BTC halves due to some change in its prospects unrelated to the prospects of crypto in general, your alt coins will just double in value relative to BTC. (In reality alt coins and bitcoins somewhat move in sync as they are both affected by the future prospects of cryptos.)

Probably similar to bitcoin cash, exchanges will wait to see how popular and easy it is to directly exchange bitcoin gold directly to cash before they decide to support it.

Again, great points and I'm hope I'm wrong on the valuation part, but I'm growing concerned because there isn't any direct evidence that shows what exactly the fork is doing and ISN'T doing.

 

[PolishQ]

So the BCC was a fork of $BTC but added market cap of $1 Billion coins but had unique address right?-- The issue here is the fact that BTC Gold is in effect, increasing the market cap of $BTC itself which would use the same addressing, hence the price decrease due to increased volume.


My concern again is based on volume; If the market cap doubles, then the value of $BTC has to drop.


Again, great points and I'm hope I'm wrong on the valuation part, but I'm growing concerned because there isn't any direct evidence that shows what exactly the fork is doing and ISN'T doing.

The fork itself won't have any impact on BTC's market cap; at least, it didn't with the last one in July. The number of BTC coins is not going to to change. An equivalent number of BTCGold coins will be added, which will have its own market cap based on whatever value the market determines for each coin.

 

[EmmaWatsonButt]

Getting into crypto, bought some LTC but I'm thinking of moving most of the %age of my portfolio to ARK

 

[Cipherr]

How do you know the address of the wallet of the new 'BitcoinGold' or whatever it is called? How does that work?


Edit. I read that it is important to have BTC stored in a personal wallet, not an exchange?
Is that true?

Yes. If you want access to the Forked coins AND your real bitcoin you need to own the keys to your Bitcoin when the fork happens. You dont own the keys if its on an exchange. You may as well be giving Bittrex/Polo or whoever free money, because they own the keys if your coin is on their exchange and they dont have to give you the split off coins. (And they didn't last Split which seems cold.. these exchanges just basically kept that money because the users didnt know about it. I think Coinbase kept it too, but claims they will give their users access to it in a year).

 

[PolishQ]

Yes. If you want access to the Forked coins AND your real bitcoin you need to own the keys to your Bitcoin when the fork happens. You dont own the keys if its on an exchange. You may as well be giving Bittrex/Polo or whoever free money, because they own the keys if your coin is on their exchange and they dont have to give you the split off coins. (And they didn't last Split which seems cold.. these exchanges just basically kept that money because the users didnt know about it. I think Coinbase kept it too, but claims they will give their users access to it in a year).

Bittrex gave people BCC after the July fork IIRC.