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Cryptocurrency |OT| Nothing from Money
- Thread starter Brandson
- Start date
Off-Kilter
Banned
Pencil me down for totally shocked at that LTC rally. I expected it to hover around $30 for a while before dipping.
walking fiend
Member
A rise to +$1000 means a market cap of over $100 billion; the current market cap for all crypto is $109 billion. Such a target is purely speculation. The last time Bitcoin had a crash, it took it 2-3 years to recover back to its ATH
It may already started a second rally into +$40
TheDoldrums
Member
https://twitter.com/cnLedger/status/876018423053959168
This is potentially huge. Looking like the BTC civil war might be avoided. If the scaling decisions go amicably, it's going to soar.
This is potentially huge. Looking like the BTC civil war might be avoided. If the scaling decisions go amicably, it's going to soar.
Golden_Pigeon
Banned
How BTC tripled in 60 days if it depend on the market cap ?
Interesting, and good for the market as a whole if this happens.
walking fiend
Member
The same way that LTC increased in price by 25% since my last point? It is all just a bubble, all speculation; it is essentially a market to make money out of by beating the market. Not only there is little inherent value in owning the coins [they have no added value], even the money pumped into the blockchain is possibly much smaller than the market cap; meaning that as people start selling out, the price has to drop.
You could also say that the same applies to any kind of currency, but the economy, social and legal contracts, and institutions made around those currencies make sure that they will not deprecate by 25% in half an hour.
Off-Kilter
Banned
So I found out today that Poloniex is barred in New York. Pretty shitty. Should I bother setting up a VPN or just stick with Coinbase and Bittrex like I am currently? Any other exchanges with high volume worth looking at?
Yup this was my first thought as well. But why the Bitcoin faithful are moving into LTC over ETH is beyond me - LTC has nothing going for it besides speed.
CaptainZombie
Member
Plain and simple.........."PUMP AND DUMP" is what is happening with a lot of these alt coins. I noticed even the schilling on youtube where for a few days there are guys talking about a specific coin telling people to buy that coin as the hot one for the time being.
Actually it makes a lot of sense to me and I considered it as a possibility awhile back. Never bought any LTC, though, unfortunately.
LTC has what most BTC users want right now - Segwit. Implementation of the lightning network for even faster payments is being worked on as well. And it's free of the political drama. This may end up being temporary but it could go really high in the meantime.
Bitcoin faithful won't move into ETH if they haven't already IMO. There's a subset of Bitcoin users (probably the biggest holders too) that really despise ETH.
So yeah, if the BTC fork goes south, I can see LTC potentially benefiting massively. I don't think it will become the top coin, ETH probably will, but the remaining BTC users that haven't moved into ETH could drive LTC really high.
walking fiend
Member
A neat project I came upon that you might be interested in. It is about a trading bot using genetic algorithms:
https://ouraibot.org/
https://ouraibot.org/
Same, I knew that I should have invested some dough in LTC as there is a large subset of BTC peeps that would never move to ETH but would like to weather the upcoming BTC storm.
Just never pulled the trigger.
Golden_Pigeon
Banned
I understand your point, especially the latest and i thanks you for it, but it's because i think that cryptocurrencies have an institutional future that i think it's a good investment in the long run. I don't know if it will be ETH, BTC or LTC but i am sure it will be play a great role in the future economy. So maybe saying +1000 $ is an overstatement for 2018, but i think it will be come there eventually.
So I'm willing to try daily trading. Been watching some graphs how they move, and will try to play with 100$ just to see how it goes.
But I have couple of beginner questions.
1) If I start with bitcoins in one exchange and buy for them altcoins, and then trade those altcoins, what do I trade them for? Can I trade them directly for fiat without additional conversion costs? What is the process? What are negative sides to this approach? More volume alt to btc than alt to fiat? I mean the point is to have the value in a stable currency for another day when continuing with trading.
2) So basically, for such small values, how are they kept for the next day? Can the wallets even hold fiat (if that is a viable approach in trading?)? And is it sustainable to send from wallet to exchange on a daily basis for that value. Or are there also certain fees in those transaction applicable? Then a better approach would be to keep such small value on exchange till the next time I would trade?
3) Are there fees or any other traps from transferring crypto or fiat from exchange to exchange?
There are lots of general tips on this matter, and I have a basic feeling I know what I would want to do (a daily trading on 2-3 quick opportunities I find), but in the process I don't want to unnecessarily bleed money (since I'm starting with such a small amount) on excess transactions, service fees, or volatility of BTC during off time. Any tips would be greatly appreciated.
But I have couple of beginner questions.
1) If I start with bitcoins in one exchange and buy for them altcoins, and then trade those altcoins, what do I trade them for? Can I trade them directly for fiat without additional conversion costs? What is the process? What are negative sides to this approach? More volume alt to btc than alt to fiat? I mean the point is to have the value in a stable currency for another day when continuing with trading.
2) So basically, for such small values, how are they kept for the next day? Can the wallets even hold fiat (if that is a viable approach in trading?)? And is it sustainable to send from wallet to exchange on a daily basis for that value. Or are there also certain fees in those transaction applicable? Then a better approach would be to keep such small value on exchange till the next time I would trade?
3) Are there fees or any other traps from transferring crypto or fiat from exchange to exchange?
There are lots of general tips on this matter, and I have a basic feeling I know what I would want to do (a daily trading on 2-3 quick opportunities I find), but in the process I don't want to unnecessarily bleed money (since I'm starting with such a small amount) on excess transactions, service fees, or volatility of BTC during off time. Any tips would be greatly appreciated.
criesofthepast
Member
I am officially out of Litcoin. I have posts about Litecoin on GAF dating back many years. It has made me a decent amount of money but sold most of it (a lot in the low 30's/high 20's and a lot even lower in the 10's) years ago during the first big bubble along with bitcoin.
The last few years since then I have pretty much held on to the remaining coins (200+), kind of left holding the bag. I just want out of this coin! I still hold Bitcoin, though. I sold a few recently on this run up and will probably day trade with one for fun during these crazy times we are in, and lock away the rest again for years.
I started all this in the year of the bubble (2013?) in April when I invested $200 when Bitcoin was $50 and litecoin was a bit over $1 I believe. I have only ever invested $200 from my own bank account EVER and day traded my way up to thousands. It was all pure luck. I got incredibly lucky with my timing getting in when I did and just rode the wave...and bag holding for a loooooong time.
I hope those of you buying Litecoin at these prices with plans to hold know more than I do. I have no faith in the coin truthfully. The community around it always sucked. The reddit sub was dead for so long (years) and almost no communication from Coblee for so long. It was a love/hate relationship for me.
Goodluck to you all!
The last few years since then I have pretty much held on to the remaining coins (200+), kind of left holding the bag. I just want out of this coin! I still hold Bitcoin, though. I sold a few recently on this run up and will probably day trade with one for fun during these crazy times we are in, and lock away the rest again for years.
I started all this in the year of the bubble (2013?) in April when I invested $200 when Bitcoin was $50 and litecoin was a bit over $1 I believe. I have only ever invested $200 from my own bank account EVER and day traded my way up to thousands. It was all pure luck. I got incredibly lucky with my timing getting in when I did and just rode the wave...and bag holding for a loooooong time.
I hope those of you buying Litecoin at these prices with plans to hold know more than I do. I have no faith in the coin truthfully. The community around it always sucked. The reddit sub was dead for so long (years) and almost no communication from Coblee for so long. It was a love/hate relationship for me.
Goodluck to you all!
Ooooffff! You made a nice chunck of money! Congrats dude!
ETH to the moon still?
Does anyone know smth about antshares?
Off-Kilter
Banned
Uh what's going on with ETH?
criesofthepast
Member
I did not get rich! Far from it! Barely $10,000 in profit and the little bitcoin I have left. Not enough to buy a yacht and retire somewhere forever but on a $200 initial investment - yeah, I did not do bad!
Slowly getting back up to the $390 it was at before that crazy spike to $450 and then subsequent crash.
Off-Kilter
Banned
Yeah I'm following the rally closely but about an hour ago there was this huge drop into the sub $350 range
It's reversing course now but I was wondering if some grim news broke out or something
But hey, 10.000$ is super nice.
Soooo, i have a question guys. I transfered 0.1 ETH from coinbase to bittrex. Coinbase seems to have a fee from 0.000444 or something like that. So i transfered 0.100444..
Now i got that ETH on bittrex, but i only got 0.09715 something. Whyyyyy?
Also, can i buy every alt thats available on bittrex now with ETH too? Because when i want to place a bid or ask, only BTC is available.
When i want to buy something, i have to buy a bid or can i directly buy from bittrex too? I'm dumb.
Did you pay capital gain taxes?
App seems nice and better than Coincap but it doesn't show my total portfolio value although i added different coins with the quantity i have. Have to try it a bit more. Ah, got it now. Have to add it as "buy" to see it in my holdings.
Cool, I'll check this out!
criesofthepast
Member
Yes of course I did Mr.
Sending BTC from coinbase to another (non partner) wallet is tiring. Let's say i have 0,016212 BTC and i want to send all to an adress. I click on "max" so that the whole amount is put in. Then i want to send but coinbase says that i have not enough funds to do this. Because there is a network fee, which they only show after the transaction. Why not show the fee right away or ... just substract the amount automaticly... No, i have to adjust the BTC amount myself to do this (or did i miss something?). *rant over*
Ahhh. Now i got the gist of bittrex. Very interesting!
But gosh, is it just me, or does this whole processing and fee-thing take away a nice chunk of money?
1.) Buying on coinbase -> fees!
2.) Transfering the crypto to bittrex - fees!
If you didnt use BTC, like in my case, because i had ETH, so you need to transfer ETH to BTC, and you seriously don't want to do that on coinbase, but still...
3.) Transfering ETH to BTC on bittrex -> fees.
4.) Now i bought 10 antshares -> fees.
And after all this horseshit you expect me to give this shit into a wallet, which leads to more fees.
5.) FEES
What a clusterfuck sometimes.. hope it shoots to tha moon. It looks like a classic pump and dump now, but seems to be legit still. I will go with that ride lol.
Edit: now i can finally buy doge
But gosh, is it just me, or does this whole processing and fee-thing take away a nice chunk of money?
1.) Buying on coinbase -> fees!
2.) Transfering the crypto to bittrex - fees!
If you didnt use BTC, like in my case, because i had ETH, so you need to transfer ETH to BTC, and you seriously don't want to do that on coinbase, but still...
3.) Transfering ETH to BTC on bittrex -> fees.
4.) Now i bought 10 antshares -> fees.
And after all this horseshit you expect me to give this shit into a wallet, which leads to more fees.
5.) FEES
What a clusterfuck sometimes.. hope it shoots to tha moon. It looks like a classic pump and dump now, but seems to be legit still. I will go with that ride lol.
Edit: now i can finally buy doge
Real life has fees as well. It's just that banks usually cover them for you since they are stealing you from somewhere else.
walking fiend
Member
Fees will KILL your assets if your trade frequency is even remotely high. Doing 1 set of transactions per week (e.g. from BTC to USD and then USD to BTC) at a rate of 0.5% will cut a 68% hole into your assets. You might have heard it already: shovel makers made the most out of the gold rush
Don't get me wrong, Eth might hit $1000 even by the end of summer; however, I am just saying it is a speculation, meaning that it can hit $100 too; there is really no way to predict one way or the other. I also agree with you that eventually crypto currencies will become important, but so far there hasn't been enough tangible investments even in the Ethereum platform to back its speculated value.
IIRC, bittrex has a market for Ethereum too, meaning that you can directly purchase some coins using Ethereum. However, you should definitely check the available offers, as sometimes the offers available on the BTC market are so much better that it is worth first converting your Eth to BTC then buying whatever coin you buy using BTC. That being said, you shouldn't really buy any of these random bitcoins, as I have been telling people.
Among the alt-coins, I wouldn't buy anything but LTC and Dash for now; ripple seems stable too, but it's just been moving sidways. I wouldn't even buy Eth right now, seems to be correcting downwards. Whatever you buy, put some stop order to protect some of your assets at least.
Unknown Soldier
Member
I feel like we have found a pretty nice support level for ETH. I wonder when the next catalyst to make it move again will be.
King Mystery
Member
I heard Litecoin is exploding right now because Bitstamp is supposed to start LTC trading sometime today.
ANS/Antshares are hailed by some as the chinese Etherum. They have a conference in 3 days and it keeps rising. Went in at 3 €, now at 7,5 € (with some dips yesterday).
Their conference countdown site (google translation) :
https://translate.google.com/transl...https://www.antshares.org/Home/new&edit-text=
(https://www.antshares.org/Home/new)
Their conference countdown site (google translation) :
https://translate.google.com/transl...https://www.antshares.org/Home/new&edit-text=
(https://www.antshares.org/Home/new)
King Mystery
Member
Welp. It's live on Bitstamp now and at $110. Wish I bought some when they were like $7. I own 2 LTC, so I guess it's not a total loss.
Edit: Hah! Site crash.
Edit: Hah! Site crash.
And immediately back down to a sane price. Someone just got a little overzealous with that $110.
I would be cautious about anyone claiming to be the Ethereum of X. A lot of startups are trying to be the next Ethereum. Be extra cautious if you can't read Chinese yourself.
No problem, first things i took from reading into cryptocurrency is that this is wild west with broken dreams,raids, empty promises and bandits/shills. I wanted to put that "next etherum" in quotation marks. Have read promises like that for other coins too. Like with all of them, you can't tell what it's going to be in the long run.
Just wanted to say that the support seems promising for ANT. Since i made some nice already i don't mind if its some other "shitcoin"
Blockfolio app is really nice now everything is set. Deleted coincap.
Appreciate the deeper inputs from walking fiend, brandson and others.
Just wanted to say that the support seems promising for ANT. Since i made some nice already i don't mind if its some other "shitcoin"
Blockfolio app is really nice now everything is set. Deleted coincap.
Appreciate the deeper inputs from walking fiend, brandson and others.
As an investment vehicle, it does have some appealing characteristics in terms of current market cap, and current and lifetime numbers of ANS coins for circulation. I don't know anything about the development team or their plans though. In reference to the market cap numbers only, a bump from the current price to USD$100 per ANS is not impossible.