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Cryptocurrency

Discussion in 'Channel Zero' started by JesusMachine, Dec 13, 2017.

  1. NightmareOnElmStreet

    NightmareOnElmStreet Veteran Member

    Joined: Apr 17, 2006 Messages: 8,393 Likes Received: 513
    Any of you crypto nerds know where a guy might be able to trade some of these sealed blue labels for coin? I know they’re like sticker gold, so I thought I’d pop in to see.

    CC586B7F-63C2-47E9-9519-602F904A308E.jpeg
     
  2. Mercer

    Mercer Moderator Crew

    Joined: May 2, 2007 Messages: 10,652 Likes Received: 1,072
    Pretty sure we've hit the floor, I think this entire month is going to be shitty though. From what I've noticed you can tell it's hit the floor in major corrections like this when it's between half, and a quarter of the all time high price, and trading volume starts picking back up.

    I don't fuck with anything I don't think is useful, or has serious potential outside of price. I'm not the best person to ask about this. IMHO the days of putting in a few cents and getting returns in the tens of thousands of percentile within months are pretty much over for non-accredited investors. One of the low cost coins I think has serious potential for 2018 is ADA, I also see Ethereum as severely undervalued at this point. EOS is also good a good hedge against Ethereum much like ADA is. EOS requires balls, and a little bit of technical know how to properly register the ERC20 tokens on my ether wallet via smart contract which is scary for most people, but a serious advantage to anyone willing to go through the learning process. Although I do hold bitcoin cash I don't recommend it as an investment unless it's potential is being measured against BTC, I just support their cause. TBH I don't think there's any "exchange of value" focused cryptocurrencies outside of Monero that have potential this year, including BTC. The market seems to be shifting away from cryptocurrencies, and into cryptoassets like Ether and other smart contract platforms. I only like Monero because of it's anti surveillance properties.

    Absolutely not, I know people who've lost a lot, either by trying to outsmart the market, or by having their funds sitting on an exchange that gets pwnt. During the aforementioned ETH flash crash people had market sell orders if the price drops below "X" well, if it drops below "X" and keeps going down because everyone else was thinking the same thing, by the time your order is filled you might be one of the people that sold at $10. I don't even like holding anything on exchanges, even the super reputable ones. I will make fiat deposits into them, and hold the fiat with buy orders for when the price dips but that's it. Looking back at my moves, the best ones hands down were buy and hold. I did get some trader luck on a shitcoin investment (IOTA). Truth be told I honestly had faith in the project back when it took a certain degree of technical prowess to even HODL, and later lost faith when I looked into it more. Luckily when I lost faith, the price was hitting gains in the thousands of percentile. I'm not saying day trading is bad, I'm sure there are people who consistently make gains, I've just never met one myself and more often find people that lose out in the long run.
     
    ClueTwo and LastBoyScout like this.
  3. misteraven

    misteraven Administrator

    Joined: May 7, 1999 Messages: 8,986 Likes Received: 413
    Thanks for taking the time to respond @Mercer . Definitely got me thinking...
     
  4. LastBoyScout

    LastBoyScout Dirty Dozen Crew

    Joined: Jun 5, 2003 Messages: 2,194 Likes Received: 37
  5. Mercer

    Mercer Moderator Crew

    Joined: May 2, 2007 Messages: 10,652 Likes Received: 1,072
    Lost $45 on fee's and overdraft charges, but ETH, LTC, and BTC went up and gained $450 which is nice.

     
  6. LastBoyScout

    LastBoyScout Dirty Dozen Crew

    Joined: Jun 5, 2003 Messages: 2,194 Likes Received: 37
    Bummer glad the coins are going back up
     
  7. Mercer

    Mercer Moderator Crew

    Joined: May 2, 2007 Messages: 10,652 Likes Received: 1,072
    Didn't really get over-drafted, just thought it was a funny situation during the market upswing, deserving of a meme reference.

    I actually had to cash out a pretty large amount recently for a move, and was hoping for a mistaken double deposit into my bank. Too bad the market was down when I'm moving into a new place, $4200 security deposit is killing me. Wish the new landlord would allow for an Ethereum smart contract security deposit, that would be nice to cash out in a few years when I move.
     
    misteraven likes this.
  8. Hua Guofang

    Hua Guofang Dirty Dozen Crew

    Joined: Oct 29, 2013 Messages: 1,943 Likes Received: 462
    Don't have to understand BTC to know that this is a dumb move. Unless there were other motives at play that are not disclosed:


    'This is horses--t': Bitcoin investors blaming a Tokyo 'whale' for recent price slide
    • Oscar Williams-Grut
    http://www.canberratimes.com.au/bus...e-for-recent-price-slide-20180308-p4z3jd.html

    Angry bitcoin traders are railing against bitcoin sales by the trustees of funds from collapsed Japanese crypto exchange Mt Gox.

    Mt Gox was launched in 2010 and was one of the earliest cryptocurrency exchanges. It grew to become the world’s biggest exchange but filed for bankruptcy in 2014 after being hit by a $US450 million ($578 million) hack. Its remaining funds have been placed into a trust to help pay back creditors.

    Bloomberg reported on Wednesday that Nobuaki Kobayashi, the Tokyo attorney and bankruptcy trustee for Mt Gox’s funds, disclosed in a creditor’s meeting this week that he has sold $US400 million of Mt Gox’s bitcoin since last September. Kobayashi is in charge of liquidating Mt Gox’s funds to pay back creditors of the business and controlled a pool of more than 166,000 bitcoins as of March 5.

    Matt Odell, another bitcoin investor on Twitter, wrote:“They panicked and sold the bottom. Market absorbed it well.”


    But other bitcoin traders and investors have expressed anger at the fact that such a large amount of bitcoin was sold into the market at a time when prices were already under pressure. After hitting a high above $US20,000 in December, bitcoin crashed below $US10,000 in mid-January. The cryptocurrency, or the wider market, hasn’t recovered since and is trading at just under $US10,000 as of the morning of March 8.

    The most popular thread on the Bitcoin sub-Reddit on Thursday links to an article accusing Mt Gox’s trustees of trying “to crash bitcoin” and the highest rated comment says: “Just give the people their money in BTC and let them decide what to do with it. This is horse—t.”

    A follow up comment from the same user said: “It’s definitely having the effect of causing the price to drop with each sell period.” Another member said: “Why didn’t he sell the BTC at auction like other assets often get sold during bankruptcy? If he sold on the spot market only an idiot would think you wouldn’t suffer slippage.”

    A separate thread on the Bitcoin sub-Reddit makes the same point, saying: “Is there a way to ask this Mtgox trustee guy to use an OTC desk next time (or do an auction like the FBI did with Silk Road’s 144,336 BTC)? And to NOT do market dumps?”

    A comment on that thread reads: “For the sake of Bitcoin survival somebody gets a hold of the trustee asap to use a better mechanism to distribute those coins!”

    All the comments suggest traders are concerned that such large sales of bitcoin from the Mt Gox trustees are negatively affecting the price of the asset. Kobayashi still has $US1.9 billion of bitcoin to offload, suggesting this theory could see further scrutiny.

    Any proceeds left after Mt Gox’s creditors are paid will go to Mark Karpeles, the founder of Mt Gox. This quirk of Japanese bankruptcy law has angered many in the bitcoin community who think that Karpeles, currently on bail from prison in Japan where he faces embezzlement charges, shouldn’t reap any benefit from the collapse of Mt Gox.
     
  9. Steel Schnauzer

    Steel Schnauzer Dirty Dozen Crew

    Joined: Jul 31, 2015 Messages: 274 Likes Received: 34
    I thought those stickers are completely free
     
  10. misteraven

    misteraven Administrator

    Joined: May 7, 1999 Messages: 8,986 Likes Received: 413
    These swings have been pretty wild. Hoping to close on something I've been working on for a couple months. If so, I'm planning on putting a fair sum into BTC, and spread a decent amount across a few shit coins. Also, planning to start messing with Buy / Sell orders instead of just HODLing.
     
  11. misteraven

    misteraven Administrator

    Joined: May 7, 1999 Messages: 8,986 Likes Received: 413
    Why do you feel this way? One thing I've learned is that crypto is still way in its infancy. I'd read that about 2% of the nation is turned onto it, but I suspect that the true number is far lower. Perhaps 2% have figured out how to join coinbase and buy, but the number of people that even have a basic understanding of blockchain, let alone the potential ramifications of that tech, seems to be very few and far between. Seeing as how well many people I know did with NEO, I still think there's plenty of potential for come ups on shit coins.

    I hear you, but also know a number of people that are almost at the point of making a living with day trading like approach. I'm not super familiar with charts and the methodology used for tracking trends through them, but does seem to me that there's more to it than happy accidents. I can understand your weariness with leaving funds on an exchange, but still don't think its been a regular enough occurrence that I'm super concerned personally. Maybe I'll feel different when I have significant money in play, but we'll see. Hopefully I can pull off what I'm trying to do and get some real money in play. I'll keep you guys posted once I get to that point.
     
  12. misteraven

    misteraven Administrator

    Joined: May 7, 1999 Messages: 8,986 Likes Received: 413
    https://limacharlienews.com/business/fine-art-meets-bitcoin-blockchain-cryptocurrency/

    When fine art meets Bitcoin, blockchain and cryptocurrency the real fun begins
    Published on April 28, 2018 by Lima Charlie Tech

    Blockchain and cryptocurrencies are set to disrupt nearly every industry, and have already become a changing force within the global fine art market. While news often focuses on the price of Bitcoin, there is a much larger story to be told about the technology and its gamechanging uses in the art world.
     
  13. cointent

    cointent New Jack

    Joined: Apr 25, 2018 Messages: 6 Likes Received: 0
    It seems that you know things about cryptocurrency) Lol. What do you think about cloud mining? And, do you know this website? http://hashflarecode.com/ . Thank you.
     
  14. DyS$kysE

    DyS$kysE Dirty Dozen Crew

    Joined: Jan 25, 2017 Messages: 123 Likes Received: 7
    I was thinking bout getting some bitcoins so I can buy spoke vyvanse from silkroad
     
  15. misteraven

    misteraven Administrator

    Joined: May 7, 1999 Messages: 8,986 Likes Received: 413
    Was trying my best to close a big deal before mid April so I could by a grip of BTC for almost half price. Missed that opportunity and was a no brainer it would bounce right after everyone filed taxes. It'll still climb throughout the year culminating in another peak likely around the holidays but damn if you couldn't nearly double you money in those last few weeks. Anyone manage to buy in when it was still in the sub 7k range?
     
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