Cryptocurrency Experience

mememan · Mar 15, 2014

Alty said:
According to this https://cryptorush.in/documents/OfficialFyrstikkenOwnershipStatement-March142014.pdf Fyrstikken just bought 60% of cryptorush for $500,000.

That's the equivalent of roughly 800 btcs.

Their trading volume is approx 250 btcs per 24 hours, with a trasaction fee of 0.18%, earning the platform approx half a Bitcoin revenue per day (at todays volumes).

So, Fyrstikken will earn 60% of that half a bitcoin = 0.3 btc per day.

@ todays figures it will take him 2666 days to earn back his investment or 7.3 years.

He must have big hopes / plans for that site.

Yeah, when you phrase the purchase in an actually sensible way, looks expensive. I think at one point CryptoRush had 12,000 in completed BTC volume. So that's 21.6 BTC. I think CR was started at the end of January, so let's say 60 days in operation. Still get around half a BTC in revenue (0.36 BTC by this count) There's DOGE and LTC in there, but I don't think it was that much.

Cryptsy and Mintpal are really close volume wise. Really surprising a new exchange is giving Cryptsy a run for its money.

CryptO · Mar 15, 2014

MINT still going down, hope everybody is out of that.

exige · Mar 15, 2014

TTTDodder said:
Yeah, when you phrase the purchase in an actually sensible way, looks expensive. I think at one point CryptoRush had 12,000 in completed BTC volume. So that's 21.6 BTC. I think CR was started at the end of January, so let's say 60 days in operation. Still get around half a BTC in revenue (0.36 BTC by this count) There's DOGE and LTC in there, but I don't think it was that much.

Cryptsy and Mintpal are really close volume wise. Really surprising a new exchange is giving Cryptsy a run for its money.

I understand what he's trying to do with CR, but personally I would take the capital and build something new from the ground up. CR/OpenEx/CoinEx/CoinMarket/etc. are all built from/originated from the same open source codebase that leaves a lot to be desired. There's a lot of new exchanges popping up now, but none of them seem to be "serious" dev efforts. The only thing I've seen that seems to offer the kind of features you would expect from a "real" exchange is Bittrex, but they are just getting started and it remains to be seen how robust they are.

CR took a big hit and got burned hard by the ZEIT fork. I find it comical that they are now going to implement limits on new coin developers etc. when they were originally built specifically so that devs of a crapcoin could dump on the public. We'll see how it goes I guess... Personally I most prefer MintPal now, I've had the best user experience with them.

mememan · Mar 15, 2014

exige said:
I understand what he's trying to do with CR, but personally I would take the capital and build something new from the ground up. CR/OpenEx/CoinEx/CoinMarket/etc. are all built from/originated from the same open source codebase that leaves a lot to be desired. There's a lot of new exchanges popping up now, but none of them seem to be "serious" dev efforts. The only thing I've seen that seems to offer the kind of features you would expect from a "real" exchange is Bittrex, but they are just getting started and it remains to be seen how robust they are.

CR took a big hit and got burned hard by the ZEIT fork. I find it comical that they are now going to implement limits on new coin developers etc. when they were originally built specifically so that devs of a crapcoin could dump on the public. We'll see how it goes I guess... Personally I most prefer MintPal now, I've had the best user experience with them.

I've seen a lot of sites using the Openex.pw technology (I'm guessing it originated with them; some later sites even have the same icons).

I think they're rebuilding CR according to the release statement. Fyrstikken was also able to reduce costs since he took a portion of what he bought and sold them via the new CRS ticker on the site.

Just got to find a place for my Coinye now

Paleo · Mar 15, 2014

Edotthekid said:
Can someone please create a summary thread for this. I have been wanting to read this but this is a giant a$$ post.

Step 1: Buy and sell digital currency

Step 2: ?????????

Step 3: Profit! :cigar:

Wow-Maza got pumped and dumped hard didn't it

CryptO · Mar 15, 2014

Blackcoin got that x-factor hype going with the multipool tie in and it blew up. But, what a dump happening now.

CryptO · Mar 15, 2014

Some Mintcoin pool dev has just copied Blackcoin and now Mintcoin has it's own multipool.

I must say, it is a very interesting concept.

It enables you to mine on the multipool for the most profitable coins and it will purchase and send you mintcoins in return. This might help to eat up some of those walls.

Scofield · Mar 15, 2014

Alty said:
Some pool Mintcoin pool dev has just copied Blackcoin and now has Mintcoin has it's own multipool.

I must say, it is a very interesting concept.

It enables you to mine on the multipool for the most profitable coins and it will purchase and send you mintcoins in return. This might help to eat up some of those walls.

Very tasty indeed. I saw the price go from 15-16 satoshis to 17-18 satoshis a few minutes ago. The Mintcoin multipool concept is really interesting. You can now resume 'mining,' although, indirectly, but people can still use their GPUs to acquire Mintcoin in an efficient manner. This should boost up the price somewhat.

CryptO · Mar 15, 2014

Indeed Colonal

They will need to get a ton of miners onboard for it to have a noticeable effect.

Will be worth keeping an eye on the hashrate to see if it picks up. Only at 7 megs atm.

CryptO · Mar 15, 2014

Wall up around me 18 sats MINT at mintpal.

Scofield · Mar 15, 2014

Alty said:
Wall up around me 18 sats MINT at mintpal.

You're the 26 BTC guy? Hang on, I will need some time to move things around.

CryptO · Mar 15, 2014

I'll be going to sleep soon but my wall will remain in place at 18 sats.

Feel free to add buy support and let me know how much you added.

CryptO · Mar 15, 2014

Update.

Just realised it could a very bad idea to wall up whilst I'm asleep. Better to wait for now as I need to see what is going on.

We will do it properly then.

biggeemac · Mar 15, 2014

Ack !! Yeah thanks for the heads up there buddy :banghead:

CryptO · Mar 16, 2014

LOL @spaincoin going crazy!

biggeemac · Mar 16, 2014

Bought some at.004.....I. Have another buy order at .003

CryptO · Mar 17, 2014

Seems to be a little buzz in Aphroditecoin.

A coin 75% pre mined that is meant to be for the people of Cyprus (vomit).

Apparently their hashrate jumped from less than 1 Gh/s to over 5 Gh/s duing the night, but looking at the prices on the only exchange they have atm, Bittrex,it seems expensive already at 0.006. Of course I could be wrong and it could shoot to 0.1 but I'm watching from the sidelines for now.

CryptO · Mar 17, 2014

Coinex might be hacked!

http://ilikekillnerds.com/2014/03/looks-like-coinex-pw-might-have-been-hacked/

I feel lucky to have taken most of my coins from there a few days earlier.

At one point I had over 20 btcs on that site, in fact only the other day when Zeit was getting a small pump I had over 15 btcs there.

Not looking good for coinex users at the moment, I feel sorry for all the people with their coins trapped, they were quite a busy site too.

What is up with these exchanges??!! Cryptoland is a mess at times.

CryptO · Mar 18, 2014

Litecoin been in the spotlight recently for the first time in a while.

The excitement of it hitting Huobi soon is causing a nice price rise.

mememan · Mar 18, 2014

Alty said:
Litecoin been in the spotlight recently for the first time in a while.

The excitement of it hitting Huobi soon is causing a nice price rise.

Litecoin's rise is disrupting my records. 1 LTC use to be pretty much 0.025BTC.

CryptO · Mar 18, 2014

TTTDodder said:
Litecoin's rise is disrupting my records. 1 LTC use to be pretty much 0.025BTC.

Yes, it is making your litoshi coins more valuable!

mememan · Mar 18, 2014

Alty said:
Yes, it is making your litoshi coins more valuable!

Yeah, that is another gear for potential returns in these coins. Say they all crash to 1sat. 1sat is now about $0.000006. Let's say BTC hits $10k. Now 1sat is worth $0.0001. Coin is still dead, but as long as it is on an exchange, that's x15 for complete garbage.

mememan · Mar 18, 2014

Yawn. CryptoLand is a little boring lately. Had some Bitcoin Scrypt sitting around that looks like it's taken a nice pop.

Paleo · Mar 18, 2014

Bought some more Redd. I'm using Coinedup, but it was added to Crypsty a few days ago

mememan · Mar 18, 2014

Paleo said:
Bought some more Redd. I'm using Coinedup, but it was added to Crypsty a few days ago

Redd isn't cheap enough for me to want to buy more than I already have. So many coins are just stagnant or lose 95% of their value in a day or two after being listed that I just want the cheapest coins atm.

mememan · Mar 20, 2014

How high is Bitcoin Scrypt going to go?

Jake · Mar 20, 2014

Scrypt ASICs up for pre-order http://www.coindesk.com/kncminer-accepting-pre-orders-first-scrypt-miner-titan/

I'm expecting a spillover of miners and investors from Scrypt alts to Vertcoin

Full disclosure: I bought a bucket full of VTC the other day

Paleo · Mar 20, 2014

BTC dropping. Im buying another fraction

CryptO · Mar 21, 2014

I'm feeling a strong attraction to Fluttercoin.

PoW / PoS and PoT or PoB (proof of transaction / proof of block).

Devs claim PoT to be new, I cannot confirm that but at least it is refreshing to see a coin with something different integrated into it.

https://bitcointalk.org/index.php?topic=509499.0

I like the fact they got picked up by Mintpal and bter without the usual fighting and vote buying to get onto those exchanges.

Just feels good, but as Fluttercoin is relatively new, it's difficult to determine the base buy in price.

PSK · Mar 21, 2014

TTTDodder said:
Yeah, that is another gear for potential returns in these coins. Say they all crash to 1sat. 1sat is now about $0.000006. Let's say BTC hits $10k. Now 1sat is worth $0.0001. Coin is still dead, but as long as it is on an exchange, that's x15 for complete garbage.

Assuming one is able to sell such coin!

Welcome to the only entrepreneur forum dedicated to building life-changing wealth.

Build a Fastlane business. Earn real financial freedom. Join free.

Cryptocurrency Experience

Bronze Contributor

Gold Contributor

Bronze Contributor

Bronze Contributor

Bronze Contributor

Gold Contributor

Gold Contributor

New Contributor

Gold Contributor

Gold Contributor

New Contributor

Gold Contributor

Gold Contributor

Gold Contributor

Gold Contributor

Gold Contributor

Gold Contributor

Gold Contributor

Gold Contributor

Bronze Contributor

Gold Contributor

Bronze Contributor

Bronze Contributor

Bronze Contributor

Bronze Contributor

Bronze Contributor

Platinum Contributor

Bronze Contributor

Gold Contributor

Bronze Contributor

Sponsored Resources: Jumpstart Your Fastlane

Post New Topic

Fastlane Insiders