Cryptocurrency Experience

[21elnegocio]

My stomach is going in circles I have a few quark coins and well we all dont want to loose that money lol, im thinking it might go up once on BTC38 and then drop. But we will see how it goes, also is there an app that tells you the cryptocurrency cap like how much its worth etc...?

 

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[mememan]

Dogecoin was briefly a 11 TRILLION market cap on coinmarketcap.com This is cute, I'd really like to see this to be the next bubble.

Yeah it takes coinbase 4 days unless you have a credit card you can set it up for insta buy. Ive been using cryptsy and havent had a problem with them but Ive heard a lot of complaints.

So Coinbase is probably most reputable for US people, right? I don't mind a wait, I just don't want to fool with meeting in person. Do you just hold your coins in Cryptsy or separate wallets? Was there 2-stage authentication on those sites where people had $60M BTC stolen? Is it easy to mass liquidate to BTC and then send those over to Coinbase and get cash?

Thanks

 

[Stu_Hefner]

Congratulations, Alty.

So how much has your initial $3000 investment become?

 

[21elnegocio]

Im jealous :/

He knows whats up, he must of read MJ's book, he needs to come to the forum

 

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[CryptO]

Hang in there guys.

We hit the bottom a few hours ago and unless there is anymore bad news that comes out; we should be trending upwards for a while, with plenty of small ups and downs along the way to recovery.

http://bitcoinwisdom.com/

@ Stu_Hefner : Yes I started with about $3000 and have since withdrawn about $20000 to my bank account.

I bought into Altcurrencies at a time when we were expericencing big upswings which helped allot. I was able to get out of certain coins before they started losing value and jumped into rising coins as they were taking off.

My investment value is sitting at about the $50,000 mark because of the recent mini crash; I've seen over $100K value a couple of times in the past 2 weeks but I didn't realise on that (sell) because I'd rather be holding alt currency as opposed to fiat.

The value is fluctuating wildly just like the coins. If they double then so does my investment, if they half then that brings everything back down again.

If you are able to get your initial investment out at an early stage it really does help aleviate some of the stresses involved when the values are dropping fast.

 

[exige]

I love DogeCoin, I mined a bunch when it first dropped. Crazy total amount of coins, but hopefully the meme will take it places. QRK, or I guess all of the alt coins, still seems like a ton of "irrational exuberance"...there's no way to really predict what any of them are going to do at any given time. I am curious why they promote the circulation of QRK as ~250M coins when it is set to 500M in the source code, which means there's still another 250M to mine...

 

[CryptO]

I think QRK is 250 million mined in first 6 months then 1 million per year inflation thereafter.

Please show me of proof otherwise?

 

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[CryptO]

You got to love the movement in Altcoins:

Differences of 50% in 24hrs are not uncommon.....

 

[exige]

https://github.com/MaxGuevara/quark/blob/master/src/main.h

Line 51.

static const int64 MAX_MONEY = 500000000 * COIN;

 

[CryptO]

static const int64 MAX_MONEY = 500000000 * COIN; // ~250 million + ~1 million pa (inflation)

~250 million + ~1 million pa (inflation)

You left out the part that says 250 million + 1 million per year inflation.

 

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[exige]

I just put it in a spreadsheet and I see how they did it with the block halving time. So the 1% inflation assumes people will continuously mine it for 1 coin per block ;-) Maybe they're onto something...

Reward Blocks Minted Rolling sum
2048 60480 123863040 123863040
1024 60480 61931520 185794560
512 60480 30965760 216760320
256 60480 15482880 232243200
128 60480 7741440 239984640
64 60480 3870720 243855360
32 60480 1935360 245790720
16 60480 967680 246758400
8 60480 483840 247242240
4 60480 241920 247484160
2 60480 120960 247605120
1 60480 60480 247665600

 

[CryptO]

Blocks are generated every 30 seconds, so that is possible if the price rises enough.

Please remember that Quark is just another crypto experiment and should therefore be looked at as very high risk LONG TERM.

It is likely that ALL of these coins will be dead within a certain amount of time and replaced by better technology or, as much as I hate to say, government backed coins.

In the process of this evolution and discovery phase; there is a vast amount of money to be made by those who dare to step into the unknown.

 

[CryptO]

A change to the recent doom and gloom bought on by China, here comes some POSITIVE news!

For the first time a public registered company from Canada is getting involved in Bitcoin.

Green Bank Capical Inc are launching subsidiary companies specifically tailored in the Bitcoin space.

One of them; Bitcoin Angel Capital Inc (“Bitcoin Angel”) which will invest in early stage Bitcoin and other cryptocurrency focused companies.

It's the part about 'other cryptocurrency focused companies' that get's me excited!

http://www.greenbankcapitalinc.com/tag/bitcoin-investments/

 

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[CryptO]

More bad news:

China Cannot Deposit Renminbi Into Exchanges

This is what it is all about:

http://www.nytimes.com/2013/12/19/b...in-exchange-ends-renminbi-deposits.html?_r=1&

 

[CryptO]

Chinese exiting the market at such a rate, not even the rest of the world can stop this free fall.

I have a lump in my throat. This is a massacre.

http://bitcoinwisdom.com/markets/btcchina/btccny

 

[CryptO]

We're going back up right now. WTF!

This market is crazy!!!

30 minutes ago we were at $380 Bitstamp index, now we're in the $500s

Is this a bull trap? I don't know but one thing is sure:

I'm sticking by my original advice of HOLD HOLD HOLD.

You only lose money if you sell for less than you invested.

 

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[Jake]

Is this a bull trap?

Testicular fortitude check lol

"Bubbles" burst, coins get distributed to more hands, new comers increase their holdings, bitcoin continues to grow.

That's the way I see it playing out at least. Who knows..I'm just along for the ride on what I believe to be a world changing technology.

 

[21elnegocio]

Why are you guys becoming weak, common guys hold ! It only takes one country to adopt bitcoin and it will be back up at 1k its only been a week since it crashed it will pick up. Now this is the time to stock up on a few more quarks, those who dare this is the chance we have nothing to lose. If we loose a few grand who cares we can still get back on track we fastlaners

 

[CryptO]

What a ride this has been today!

Bobby Lee of BTC China talking to CNBC about the situation.

Says they will find other methods to enable Chinese people buy at the exchanges.

http://www.cnbc.com/id/101281272

 

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[21elnegocio]

There you go, there you go bitcoin might not go up as fast again, but it will pick up give it some time. With that said quarks at .0038 ? and its to go back to 20 cents each, hhhmmm maybe a few more

 

[CryptO]

The alt coins such as Quark tend to loose value at a qucker rate, compared to Bitcoin, when there is a crash.

Also, when Bitcoin is rising they tend to rise much faster than Bitcoin.

 

[Jake]

Why are you guys becoming weak, common guys hold !

I'm not, and I am. I took some off the table a few weeks ago and bought the wife a car, and myself a new watch. I don't have any plans to sell anymore, anytime soon.

Saying that..I'm bitcoin only. Other cryptos aren't worth the risk imo.

 

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[PopEmersen]

I'm not selling my 2. I'm holding.

 

[biggeemac]

I have my bank acct confirmed on coinbase.....but it says it takes 4 days for the transaction to complete. If I make a purchase....does that lock in the price, even though it takes 4 days to complete?

 

[CryptO]

Not sure as I have never used coinbase.

If you want to purchase today then perhaps localbitcoins.com is the best option.

 

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[Jake]

I have my bank acct confirmed on coinbase.....but it says it takes 4 days for the transaction to complete. If I make a purchase....does that lock in the price, even though it takes 4 days to complete?

Yes..unless it gets cancelled. Staff is getting beefed up so if by chance it did get cancelled I imagine it would be quick to resolve. After your initial purchase and wait you should be able to purchase 10 a day until you hit your 30 day mark..then it's 50. I believe that's still the case

 

[CryptO]

THIS IS THE FUNNIEST VIDEO - IN THE CRYPTO WORLD - IT'S GOING VIRAL

IT IS A MUST WATCH TO SEE THE JOKES THAT CAN BE HAD IN THE ALT COIN COMMUNITIES

DOGECOIN MILLIONAIRE - ENJOY

BTW : (PLEASE DON'T INVEST IN DOGE LONGTERM)

sorry about all the caps

But these guys behind dogecoin, which everybody calls a joke (because it is), are actually taking this pretty seriously.

Check out the site they've created for dogecoin. Internet Marketing : To the MAX

http://www.millionaires-club-international.com/

 

[PopEmersen]

I have my bank acct confirmed on coinbase.....but it says it takes 4 days for the transaction to complete. If I make a purchase....does that lock in the price, even though it takes 4 days to complete?

I used coinbase and it was at the price they show when I clicked buy. The price went down during my 4 day wait but i still got it at that locked in price.

 

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[CryptO]

One of the things that will allow Alt currencies to be used for transactional purposes, rather than just speculation, depends on their ability to be accepted by merchants accross the globe.

Quarkpayments will be one of the first platforms that will aim to kickstart this process for Quark.

In private beta for 2 months starting January 2014, then goes into open beta.

http://www.quarkpayments.com/?tmpl=comingsoon

 

[Rawr]

Why would the world need more than 1 digital currency in the first place? (and what would the competitors compete on exactly?)

Does anyone care to make predictions on what we will see in 3 years?