Cryptocurrency Experience

[Jake]

Assuming one is able to sell such coin!

This. Even top 20 coins are hard to cash out on. If you're going for a "decent" return it's difficult to even put up a small amount on the ask side without scaring the market.

Need to tread carefully with Alts

 

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[mememan]

This. Even top 20 coins are hard to cash out on. If you're going for a "decent" return it's difficult to even put up a small amount on the ask side without scaring the market.

Need to tread carefully with Alts

Right. This of course assumes BTC goes into crazy territory price-wise, and you still have to play the tiny sell order game lest you scare the little fish.

 

[CryptO]

Allot of hype around RotoCoin, big build up for the launch and bitcointalk gets ddos'd the moment the wallets are meant to be released.

Tempted by the IPO but 0.03 btc per Roto... I understand the initial scarcity but that's still expensive when compared to other coins at launch.

Edit: delayed launch, they tried changing something then had to go back to original version.

 

[Paleo]

Was going to buy some Vert 3 days ago, but got busy and distracted and didn't and now it's shot up and I missed buying at the bottom

 

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[Scofield]

It was the Titan announcement that caused the bump in price and Vertcoin marketing. I dropped all my holdings at the last peak, I think it was 10 or 20 BTC worth. I may have dropped the price quite a bit on Vircurex.

 

[CryptO]

CryptoRush in a BIG mess today with Blackcoin. Glad I never go near that site and probably never will.

Same kind of disappearance of coins that they had with Zeitcoin not so long ago (apparently there were others before).

Reading these chatlogs, especially the part when Fyrstikken joins from 9.10 onwards is just.... make your own mind up.... but highlights the kinds of people running the show that we trust SO much of our hard earned coins with.

http://pastebin.com/CiqGSfXD

Of course, I feel very sorry for all the people who've been affected and lost out.

 

[PSK]

CryptoRush in a BIG mess today with Blackcoin. Glad I never go near that site and probably never will.

Same kind of disappearance of coins that they had with Zeitcoin not so long ago (apparently there were others before).

Reading these chatlogs, especially the part when Fyrstikken joins from 9.10 onwards is just.... make your own mind up.... but highlights the kinds of people running the show that we trust SO much of our hard earned coins with.

http://pastebin.com/CiqGSfXD

Of course, I feel very sorry for all the people who've been affected and lost out.

http://www.cryptocoinsnews.com/2014/03/25/cryptorush-loses-millions-of-blackcoins/

 

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[CryptO]

http://www.cryptocoinsnews.com/2014/03/25/cryptorush-loses-millions-of-blackcoins/

If Cryptorush is the only exchange with these problems then why are they blaming the coin devs?

Something very strange going on, that's for sure.

 

[biggeemac]

Subject change.....how long does it take for a crypto miner on average to pay for itself?

 

[Paleo]

As it happens I bought my first Black yesterday, but fortunately on Coinedup, which just added BC a few days ago

Looking at BC as a coin to build a longer term position in

Edit-Wow, just read that log you posted Alty. Will never go near anything that guy has a hand in

 

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[CryptO]

Subject change.....how long does it take for a crypto miner on average to pay for itself?

This is a difficult thing to answer.

If you use a multipool. It could take you anything up to... 2 to 3 months.

If you select coins manually and mine them from launch, you can have much better results, i.e pay it back within a month.

But of course it takes effort to do that and contrary to popular belief, it is not a set and forget game if you want to do well with mining.

 

[CryptO]

I think MINT survived that critical dumping phase that had me and lots of other people worried. It looks like it is not going to turn into a Zeit or Mooncoin and get crushed sub 10 satoshis any time soon.

It's been good to see buy support coming back in (which is what I wanted to happen with some of you guys a couple of weeks ago but the timing wasn't right).

Now the sell pressure has eased off and I've felt comfortable enough to re-enter the market and have accumulated a nice little pot of MINT, once again

 

[Paleo]

Glad to hear you think that I bought my first Mint yesterday at the same time I bought Black.
Hoping it stays down for a while so Ican accumulate more.
I dont know that I see Mint as a long term play but I would like to take some profits to roll into other coins if it spikes again

 

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[mememan]

Oh, CryptoRush

 

[CryptO]

http://memegenerator.net/instance/4...en&browsingOrder=New&browsingTimeSpan=AllTime

ROFL

 

[Scofield]

Glad to hear you think that I bought my first Mint yesterday at the same time I bought Black.
Hoping it stays down for a while so Ican accumulate more.
I dont know that I see Mint as a long term play but I would like to take some profits to roll into other coins if it spikes again

If you believe this, I don't think you have done your homework.

Mintcoin gives 20% in the first year.
It has switched to PoS. All the environmentalists are getting horny over it. Bitcoin PoW and altcoin PoW use exorbitant amounts of electricity.
Mintcoin has added a multipool, hashco.ws The last time a Mintcoin multipool was added, it exploded in hashrate.
Vault of Satoshi is launching Mintcoin on their site in April, this alone is huge.
More and more merchants keep getting added for Mintcoin.
A registered Mintcoin Fund was created to expand on tons of other projects to build insane amounts of infrastructure and to distribute the coin to the masses. Mass adoption will push Mintcoin into the 1,000 satoshi plus range.
An android wallet is coming out soon that will allow users to share Mintcoin with friends, coworkers, colleagues, and further distribute Mintcoin like wildfire.

Mintcoin is here to stay. The prices keep going up higher and higher organically and that alone tells you something.

 

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[Jake]

Circle receives an additional $17m in funding and begins a soft launch

http://www.coindesk.com/circle-receives-17m-funding-unveils-exchange-wallet-service/

Investors include..a former CEO of SWIFT I'd say digital currencies have officially arrived when the CEO of Interbank Transfers invests in their infrastructure.

 

[Jake]

Stripe testing out bitcoin payments

"Stripe is a developer-friendly way to accept payments online and in mobile apps.
We process billions of dollars a year for thousands of companies of all sizes."

"Stripe's investors include Sequoia Capital, Andreessen Horowitz, and PayPal co-founders Peter Thiel, Max Levchin, and Elon Musk."

Looks like Marc Andreessen and Peter Thiel are beginning to to push their companies in this direction. Only makes sense. I'm waiting for Fred Wilson to start throwing his weight around as well.

Interesting times..

 

[Scofield]

Nice movement in Mintcoin today.

 

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[CryptO]

Nice movement in Mintcoin today.

Yes. Don't know if you noticed but there is some guy that comes in, at least once per day with anything between 60 and 90 btcs. Tries to pump up the price and sell some MINT for a few satoshis higher than bought, then disappears for another day. Been repeating that process for about 5 days at least. (It's not me btw).

This is what I like to see!

 

[thinkfox]

I got XRP which is funded and supported by Google... But it's not doing good at the moment!


[spam link removed]

 

[biggeemac]

I noticed the random buy wall and honestly, its why i've been avoiding mint. To me, it screams "artificially propped up".

 

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[Scofield]

Yes. Don't know if you noticed but there is some guy that comes in, at least once per day with anything between 60 and 90 btcs. Tries to pump up the price and sell some MINT for a few satoshis higher than bought, then disappears for another day. Been repeating that process for about 5 days at least. (It's not me btw).

This is what I like to see!

I've noticed. There was one at 12, 13, 14 satoshis, 32BTC, 34BTC, 34BTC.
Then it was all in at 16 satoshis, 90BTC. I was tempted to eat through the entire wall. I am still considering eating the whole thing if it pops up again.

 

[Scofield]

If anyone here is trying to put up a fake wall, be careful. Don't put it too close to the top. There are whales and sharks in these parts. I could not feel like myself and eat through buy walls of any size. Let me know in advance if you are putting one up and where so that I won't touch it.

 

[PopEmersen]

Why is it that the price of bitcoin depends so much on what happens in china?

 

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[Jake]

Why is it that the price of bitcoin depends so much on what happens in china?

It's a new technology and people are still worried about what kind of impact governments can have on it if they decide to attack it. Traders see an opportunity to cause panic and pick up cheaper coins as well. Many people still follow the dumps by dumping and try to buy back cheaper.

It was funny watching this back in July. A lot of bears were calling for $50 bitcoin, I was buying hand over fist in the $60's and $70's..months later we were north of $1000.

The market will continue to be erratic, meanwhile bitcoin's user base and infrastructure are growing exponentially. Eventually Governments mentioning the word bitcoin won't be able to spook the market but until there's a lot more depth on the order book, in both directions, we're going to experience wild swings

 

[CryptO]

Bitcoin continuing to bleed... I really can't see it falling lower than the late 300s (if so it should be very brief). Perhaps once the shakedown is fully complete we can establish a period of low volatility before a break to higher ground.

The battle continues between the 100% PoS coins, and admittedly Blackcoin has been performing very well, I was investing in BC from 4000s and 5000s.

It's kind of like a race between the hare and the tortoise, MINT being the tortoise that will slowly win but Blackcoin covering ground faster in the short term. That's how I feel about it anyway.

Tough times...

 

[Rem]

People are emotional creatures. When the market is low people begin to question things. Same with stocks. They begin to question whether they should be in it and end up selling out. When the market is doing really well, or a particular stock people feel good and buy in. Which is the opposite of what you want to do. You want to buy low and sell high but because of emotions most buy high and then end up selling low and losing money. You want to zig where everyone zags.

Instead of focusing on the value currently, people need to learn more about cryptocurrencies in general. Or with a stock, learn about the company. If it's a solid company then there is no reason to sell. In fact, probably a great time to buy in. I believe cryptocurrencies are making a HUGE impact and trying to break through into mass market penetration. With it's last spike, people took notice, especially governments. Now governments, businesses, and people are making paradigm shifts and the market becomes a bit wobbly. Once things settle out, it will begin to climb again reaching new heights. New issues will arise and the market will become a bit wobbly again. Rinse and repeat. I personally don't believe cryptocurrencies are going anywhere. Not at this point. A lot of big companies and players are in on this and they are moving the markets.

I could be wrong... as I can be from time to time, but right while people are selling and bailing, I would buy in. Don't be saying "dang I missed the second ride up to the top" and be saying "I bought in when it was low and rode it to the top, I shall celebrate"

 

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[exige]

BTC will come back, there is too much money flowing into infrastructure. I just got pitched the other day to have my company sponsor a bitcoin conference this summer. There is a lot of movement around enabling technologies in the ecosystem.

There is also a LOT of market manipulation in China. I don't believe a word of what comes out of there unless I see real action that backs it up. People there actually placed a news article in a paper in china saying google was buying one of my coins. They will do anything over there.

Bitcoin 0.9 was recently released and has a ton of improvements and internal safety features. What I'm most interested in now are altcoins that build on top of 0.9. I want to see an altcoin on 0.9 with a fresh implementation of proof of stake not derived from sunny kings work, automated check pointing, and an implementation of the MBound memory hard proof of work function. This would be the killer coin. Unfortunately it s not as easy as a copy paste clone.

 

[Paleo]

Since I'm building positions, when I check the market first thing in the am and see that BTC is even lower and the alts have broadly fallen, I take that as good news.

BTC has fallen over $200 since I first bought it,and all of my alts are down below my average buyin price which is fine by me. I'll be buyng more today and will continue dollar cost averaging down.

My personal view of speculation strategy is that you try to buy a range of things in a particular market dirt cheap and hope that 1 or 2 go to the moon, a couple do ok, and you cut your losses on the rest, and you accept that you have a real risk of losing almost your entire stake.

I'm not interested in speculating if I see the potential returns as being 2X or 3X. That return is not sufficient for the high risk. I want to think I have a minimum of 5X potential, and a chance at much higher.

Speculation is only interesting to me because of the high leverage potential. If each dollar can become 10, 20, 50, 100 then it's worth getting involved. I have a target amount of dollars I plan to put into each the coins I'm interested in, then I'll reassess once I have that position. The lower the prices go, the more coins I can get for my money.

I like Vert now that it's gone sub $1

BTW, if you want a little laugh, check out this anti-BTC Youtube

rant by brilliant financial advisor Dave Ramsey, the same guy who has bashed precious metals for many years even as they skyrocketed and who advises his cultlike followers that they should invest in frontloaded mutual funds on which he claims you can get a consistent return of 12%. Sure, his "get out of debt" advice is fine, but he's talking to people who plan to stay in the same type jobs for many years and sock away money in the stock market thinking they are going to get rich.

Ramsey himself made his money the Fastlane way-real estate and media