Cryptocurrency Experience

[karakoram]

I think it's because the Chinese government gave until the end of January to cash out Bitcoins. Read this a few weeks ago when China "blocked" it.

If anyone has a link to a news article, I would really like to see it.

 

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[karakoram]

I nailed the litecoin prediction three days ago. It's nice to be right sometimes.

I agree if you also capitalized on your prediction.

 

[CryptO]

I agree if you also capitalized on your prediction.

Purchased LTC a couple of days ago at $25.30 and sold at $29.30 today

Then day traded by buying back in at $27.70 and sold at $28.20 moments later.

Switched to BTC and did some day trading with that over the last few hours.

 

[JayKim]

• Bryce Weiner ‏@BryceWeiner3m
  @CephasSerhat Could be. All I know is that there’s a lot more han characters in my PPC chatrooms than ever before in the past two weeks.

• 1. Hanpen Serhat ‏@CephasSerhat9m
     @BryceWeiner Seems to have a lot to do with Chinese buying again, mysteriously. I don't get it.
  2. 
     
  3. Bryce Weiner ‏@BryceWeiner8m
     @CephasSerhat They figured out a loophole. The ban is only bitcoin. Peercoin network hashrates have exploded with Chinese miners.
  4. 
     
  5. Hanpen Serhat ‏@CephasSerhat7m
     @BryceWeiner But they are buying bitcoin. Any idea what the loophole is?
  6. 
     
  7. Bryce Weiner ‏@BryceWeiner6m
     @CephasSerhat Money cannot be exchanged into or out of bitcoin, so they use Peercoin to get into the market.
  8. 
     
  9. Hanpen Serhat ‏@CephasSerhat5m
     @BryceWeiner Really? Has anyone else said this that you know of?
  10. 
      
  11. Bryce Weiner ‏@BryceWeiner5m
      @CephasSerhat I mine peercoin. I’m not sure anyone else has noticed what they are doing.

Peercoin ‏@PeercoinPPC18m
@BryceWeiner You're absolutely right, the hash rate has jumped considerably: http://bitinfocharts.com/comparison/hashrate-ppc.html…



http://fiatleak.com/

 

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[exige]

And, peercoin is organizing "activists" to make a big showing at the upcoming conference, hopefully they get some coverage out of it.

 

[karakoram]

• Bryce Weiner ‏@BryceWeiner3m
  @CephasSerhat Could be. All I know is that there’s a lot more han characters in my PPC chatrooms than ever before in the past two weeks.

• 1. Hanpen Serhat ‏@CephasSerhat9m
     @BryceWeiner Seems to have a lot to do with Chinese buying again, mysteriously. I don't get it.
  2. 
     
  3. Bryce Weiner ‏@BryceWeiner8m
     @CephasSerhat They figured out a loophole. The ban is only bitcoin. Peercoin network hashrates have exploded with Chinese miners.
  4. 
     
  5. Hanpen Serhat ‏@CephasSerhat7m
     @BryceWeiner But they are buying bitcoin. Any idea what the loophole is?
  6. 
     
  7. Bryce Weiner ‏@BryceWeiner6m
     @CephasSerhat Money cannot be exchanged into or out of bitcoin, so they use Peercoin to get into the market.
  8. 
     
  9. Hanpen Serhat ‏@CephasSerhat5m
     @BryceWeiner Really? Has anyone else said this that you know of?
  10. 
      
  11. Bryce Weiner ‏@BryceWeiner5m
      @CephasSerhat I mine peercoin. I’m not sure anyone else has noticed what they are doing.

Peercoin ‏@PeercoinPPC18m
@BryceWeiner You're absolutely right, the hash rate has jumped considerably: http://bitinfocharts.com/comparison/hashrate-ppc.html…

http://fiatleak.com/

now THAT is interesting news

 

[Rem]

Yeah there are some people who mine altcoins and convert them to bitcoin such as my company. So this isn't really overly surprising.

 

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[exige]

Looks like Coinye is gonna launch today instead of Saturday.

 

[karakoram]

WTF? did mtgox go down?

 

[JayKim]

indias coinbase https://www.unocoin.com/

 

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[CryptO]

WTF? did mtgox go down?

It sort of half went down because some people were still able to get access from time to time. Looks like it's been ok for the last couple of hours.

indias coinbase https://www.unocoin.com/

Hopefully they can get some volume going, but I don't really see India as having the buying power of China or US.

Still slightly bullish news if they can implement the exchange within Indian regulatory framework.

Todays prices : FLAT FLAT FLAT, talk about boring.... I like the volatility and hopefully we'll get some soon, just as long as it's not downwards because I'm in full LTC again. I really don't want to be stuck in a long hold!

 

[Delphi]

I messed up and forgot about 18 bitcoins I had from 2011 so I missed out on around 20k, but anyway even if you aren't investing it may be a good idea to hold some Bitcoins or Altcoins just to be familiar with them, because they aren't all going to die. The implications of having a decentralized currency are pretty large, of course fiat currency isn't going anywhere anytime soon.

 

[CryptO]

I'm so glad I felt the downwards pressure in time and got out at just under my purchase price yesterday. I only lost the transaction fee of 0.15%

Bad news coming out and crashing taking place.

I do expect a full recovery but not immediately.

 

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[Delphi]

Do you think it's worth buying BTC anymore? I need to start a crypto portfolio, but I have no idea what to invest in

 

[mememan]

Do you think it's worth buying BTC anymore? I need to start a crypto portfolio, but I have no idea what to invest in

If you want to be lazy like me, buy a little of all the altcoins on Cryptsy. You ain't going to get rich with BTC x10 unless you really want to gamble. Not saying you'll get rich my way either, but at least you don't have to be glued to your screen analyzing the trollboxes.

 

[Delphi]

Yeah that's my plan, just not sure which ones because there are so damn many now, unfortunately or maybe fortunately I don't think any one of them will die out completely which means it's really tough to decide. I think I'll get some PPC and LTC and then just a few other ones. I have a lot of faith in PPC though.

 

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[CryptO]

Do you think it's worth buying BTC anymore? I need to start a crypto portfolio, but I have no idea what to invest in

I'm a big advocate of Bitcoin and I can see it's many advantages. I'm also am a fan of other Altcoins but my focus is, now, on any coins that serve a purpose or have some aspect that can give the coin some longevity.

Checking out forums and doing some research is a good place to find out about coins to invest in. What I've discovered is that (even since creating this thread) something that was true and worked last week, may not be right tomorrow, because of the free-market effect.

So whilst it's pretty obvious Bitcoin is sticking around, I couldn't say the same for many of the altcoins, so much crap on the market now.

Keep looking out for coins that have longevity. Ask yourself, if the market keeps getting flooded with new and innovative coins, why will this coin (x) be here in two years from now?

 

[Delphi]

Yeah that's for sure, some of the fad coins can end up giving serious returns if you get a lot of them now though. They are very risky no doubt, but I'm going to get some and just watch them closely and let them go when/if they jump. That is very very good advice though, thank you

 

[mememan]

What I've discovered is that (even since creating this thread) something that was true and worked last week, may not be right tomorrow, because of the free-market effect.

This is a game you will lose in the long-run. The aggregate results may be positive since a rising market causes all ships to rise, but this is no way to invest: jumping from coin to coin, you're bound to lose big eventually. Buy & bury until you hit a cashout point you are comfortable with.

Honestly, widespread use of these seems odd to me, at least domestically. Americans are notoriously bad at decimals for one

 

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[biggeemac]

Yeah, jumping from coin to coin, to me, would be similar to a day trading approach. I think its fine if you are only using a small amount of your portfolio/wallet, but i like the idea of buying several differnt alt's with great potential and forgetting about them until they hit the mark.....whatever you decide that would be.

 

[mememan]

Yeah, jumping from coin to coin, to me, would be similar to a day trading approach. I think its fine if you are only using a small amount of your portfolio/wallet, but i like the idea of buying several differnt alt's with great potential and forgetting about them until they hit the mark.....whatever you decide that would be.

Yeah, if you can just get a x100 multiple out of your basket of $10k, that'd be a cool million. Pay the taxes on it, maybe save 1 BTC worth at the time, and call it a day. I don't know how much Alty's up, but he's probably in the top 0.01% on this site in term's of "killing it" money wise, especially when considering time and effort required (top 0.0001% then ).

I honestly don't see how you can divine any sort of meaningful analysis amongst all the speculation, pump & dump, etc., but that's just me.

 

[Rem]

You guys should be mining them... Not that I am opposed to investing in them but I have had some great success mining them. You need the right equipment to make it worth it though so it will take a little initial investment.

 

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[CryptO]

I totally agree that holding is by far the best thing to do if you can select good coins that survive the influx of new coins coming in.

Day trading Crypto is a big risk and of course you win some you loose. The aim is to increase the coin stash and withdraw money for my familys day to day living costs.

In this thread there's mostly been metion of my successes, but I've had a couple of complete train wrecks of a trade, taking a hit of 25% loss on one and 20% loss on another. YEAH BABY!

Investing in coins that had allot of potential like Quark and EAC were big mistakes, because behind those coins were not so good intentions. At Quark the big wallet holders, instead of investing in the community and helping the growth, just dump at any given moment. And at EAC (Earthcoin) there are so many coins mined each day that the price cannot go up as the miners constantly offload. By the time the price can increase on EAC, better coins will have already replaced it.

With trading, picking your entry and exit is complicated and takes some nerve, and I've screwed up ALLOT of times too. One thing in common about everytime I screwed a trade up is because of rushing into a decision.

Also, from what I've learned so far, you have to be careful about cutting at a loss to buy back in cheaper or when to hold out for a bounce. Before any click on buy button I have to be confident that I've spotted the trend correctly. Simply getting caught up in the emotion and panic of irrational buying and selling can really sting hard. The more I day trade Crypto the more I feel comfortable or emotionaly detached with decisions and that seems to give better results.

In an ideal world I would purchase a stack of every new coin that came out and forget about it for a few years, but I need something to do now that I'm doing this full time!

Best rule I apply, that has given me greatest success so far is this: Before any trade; I ask myself why am I doing this? What do I expect to happen of this trade?

If I can't explain that logically and with confidence then I hold back until I can see a clearer path of outcomes. Being able to fully explain why something is going to do what you think it will, is surely better than just winging on pure hope.

At the moment I'm still up 1000% of my initial investment and been able to cash out over 2000% percent.

Out of profits, I've also bought a scrypt miner that has 3.3 MH/s and I'm funding work on a new Crypto project that will probably not see the light of day until the Summer.

 

[karakoram]

In this thread there's mostly been metion of my successes, but I've had a couple of complete train wrecks of a trade, taking a hit of 25% loss on one and 20% loss on another. YEAH BABY!

With trading, picking your entry and exit is complicated and takes some nerve, and I've screwed up ALLOT of times too. One thing in common about everytime I screwed a trade up is because of rushing into a decision.

Also, from what I've learned so far, you have to be careful about cutting at a loss to buy back in cheaper or when to hold out for a bounce. Before any click on buy button I have to be confident that I've spotted the trend correctly. Simply getting caught up in the emotion and panic of irrational buying and selling can really sting hard. The more I day trade Crypto the more I feel comfortable or emotionaly detached with decisions and that seems to give better results.

Best rule I apply, that has given me greatest success so far is this: Before any trade; I ask myself why am I doing this? What do I expect to happen of this trade?

If I can't explain that logically and with confidence then I hold back until I can see a clearer path of outcomes. Being able to fully explain why something is going to do what you think it will, is surely better than just winging on pure hope.

I know how you feel. My current position is being decimated right now.

 

[Gsuz]

You guys should be mining them... Not that I am opposed to investing in them but I have had some great success mining them. You need the right equipment to make it worth it though so it will take a little initial investment.

I had some luck with Bitcoins a few days/months ago, cashed out and I want to start mining.

I've been looking at purchasing mining equipment for the last few days, mainly reading on litecointalk and reddit. I've been using this spreadsheet https://docs.google.com/spreadsheet...eWVZcjJLWmhjaVBMTHVCR3l4eHc&usp=sharing#gid=0 and various price comparison sites for reference.

I've been using this calculator http://ltc.anapaapps.com/ as it seems to be one of the more accurate ones. However, whatever numbers I put in, I never seem to be able to make a profit.

I've noticed that many people are using auto switchers that automatically mine the most valuable coin at a certain time and then exchange that into LTC or BTC directly.

Is this the way to go if you want to mine profitable?

Still then, say you pay 2k for a 3 mh/s rig, you'd take pretty long to profit, even if difficulty remained the same which it won't.


What am I missing here? What do you consider a little initial investment?


Would be great if someone more experienced than me, could chime in.

 

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[Rem]

2k in hardware for a 3MHash rig is pretty good. Right now, on an auto switch with 4MHash, I'm getting .03 to .05 per day, up to .07 per day in BTC. I will have made, profits, of about 800-1000, over 3 weeks, and I have had a couple days down.

 

[Rem]

What do you consider a little initial investment?

Well right now we have about $23k in equipment. I don't think you need all that to get started. The more money you sink in the more money you make. or at least that's what I am finding in my case here. Just the profits begin to dwindle over time due to the difficulty factored into it.

 

[CryptO]

Well right now we have about $23k in equipment. I don't think you need all that to get started. The more money you sink in the more money you make. or at least that's what I am finding in my case here. Just the profits begin to dwindle over time due to the difficulty factored into it.

What about power consumption, can your house handle all those mining rigs?

 

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[Rem]

What about power consumption, can your house handle all those mining rigs?

Yeah for now haha. But actually we are looking to move into a building in Rumford. That should get us by for a while.

 

[CryptO]

Boom!

Just increased my LTC holdings from 650Ltc to 850Ltc by playing the last dip.

Who said day trading is not worth it?

Only joking but, when you time it right, it can help you increase your coin stash.