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Bitcoin / Cryptocurrency Discussion (And Predictions)

Tom.V

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Arbitrage is the name of the game. Big win today, made a total of 5 trades. Each bigger than the last. LTC was once again the vehicle of choice. Pushed the withdrawal limits on all of my accounts today and scored exactly $10,000 in profit. Back to the shadows I go to wait for the next opportunity.
 
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mentalic

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I agree. LTC is only going up because it's an attractive option on Coinbase and the people who downloaded the app for the first time yesterday had no idea what it was so they just threw money in it hoping to score some gumballs.

Actually, no..

Litecoin technologically has some features that are not available in BTC, and the BTC hype has just helped the people be more aware of it. LTC is faster, more 'private' and transactions cost less. Also the founder has taken advantage of all the hype to gain some publicity on the coin. Apart from the technology & marketing, there are also people that 'missed' the BTC train and want to catch the next best one :)
 

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MrYoshi

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Arbitrage is the name of the game. Big win today, made a total of 5 trades. Each bigger than the last. LTC was once again the vehicle of choice. Pushed the withdrawal limits on all of my accounts today and scored exactly $10,000 in profit. Back to the shadows I go to wait for the next opportunity.
That's awesome. I made about 1.5k right now, but that's only if I take out my coins. Any strategy you recommend? I think Ethos is going to skyrocket. My long-term plays (3-5 years) are with IOTA, Cardano, Ripple and Stellar Lumens.

Edit: Nvm, I missed the arbitrage part.
 
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B. Cole

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Just a thought after watching Charlie Lee's CNBC appearance last night-

He keeps mentioning that Litecoin was designed to be the "silver" to Bitcoin's gold. Is it me, or did he put an unnecessary mental stigma on the coin, giving most people the impression that it's supposed to be cheap in comparison, when it didn't have to be?

It's a faster, more secure, more technologically developed coin. Not saying it's the greatest coin, but ahead of Bitcoin. Yet he curses his own making with this notion that it will never be as valuable as its predecessor. Granted, Bitcoin has first to market advantage, but I really think the name "Litecoin" and the analogy that Charlie uses on his awkward, introverty public engagements really curses the damn thing.

He should have embraced it publicly as a faster and better coin. It might have done a lot better if people didn't see it as second best. It's also got a bigger market cap, don't see why paying for a house should be in Bitcoin vs. Litecoin or anything else, if it's all currency at this point. Weird.


And while I'm thinking-

Fast forward 5 years to Walmart with me for a sec - "Damn babe, that's only .0035942 BTC. It was .00367 at Kmart. If you got 19.2 Iota and 4.976 XRP, we should get it."

"Shit, all I have is .16 ETH and a Dash."

This is all probably going to change drastically in the next few years. I don't see the digital gold rush being sustainable like this without a lot of consolidation and reorganizing. Can't just have everybody inventing brands of gold, and have it all bought up and hyper inflated before it's an available currency to the world. Also can't have everybody standing at a register with their calculator out to see if they're getting screwed. It'll take a damn century for people to acclimate to using something like this.

Just thoughts.

Meanwhile, my next Coinbase allowance is about to clear. Time for more .000216295 BTC, or something.
 

DavidK

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Popular opinion is that people see the 3 coins on Coinbase and buy Litecoin because it's cheaper and they can't afford 1 full BTC. It makes sense because quarter of all LTC trading volume comes from Coinbase(GDAX):
467a19338d60ef9ee42c1dd03cfbdd86.png

I personally think if Litecoin wasn't on Coinbase it would just be another "shitcoin" but price doesn't necessarily have to reflect value.

And yes, never buy at all time highs, buy the dips. Ethereum has a solid reputation though so you should be okay holding it long term.

Get out how? Do you already own Bitcoin and want to sell? I feel like this question is a veiled excuse for people who think they are late to the game and the price point is too high to get in now.

Would love to hear somebody's opinion whose in this boat actually, and if your motivation for looking into it is financial gain or the underlying technology?

What I mean is now that the average Joe has joined the party, what is going to keep the price going up once his credit card is maxed? Also, I do not own any Bitcoin and won't buy any unless there is a drop in price similar to past behavior. Definitely feel as though I am late to the Bitcoin game but will hopefully be early to other blockchain tech as it seems many profitable ships will be sailing in the future given the Bitcoin validation.

My motivation lies in the underlying tech and it's implications/philosophy as well as potential for financial gain. What is interesting is the philosophy(which I sympathize with) behind the tech and how it creates loyal disciples. The philosophy alone makes me want to invest in the tech to help support, but to do so wisely of course.
 

B. Cole

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Really feel like sharing this little bit of advice for the other noobs like myself poking around in crypto. I know what you're thinking, as soon as your Coinbase opens up, you're going to start trying to trade and get more.

Don't.

Really, that shit will hurt you, completely unpredictable for a non-trader. Cost average a few times and leave it the hell alone. Shit runs up and down 20 and 30 percent, you don't even have time to do decent limits and stops before it blows right through them, by the time you cancel an order and get back on the screen, you're 30 precent off. You hit market buy just to stop it and regroup, eat the fee and the loss. F*ck that.

@biggeemac, you were right, it's just a pump and dump fest. You can see the patterns like waves, green green green, BOOM. Red down to your a$$.

Very happy for the guys here making bank doing it, no doubt you earned the skill. I'm stepping off after a little alt purchasing and focusing on my fastlane, this has been way too distracting. ;)
 
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scott wisniewsk

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I have lived through the 90's dot com craze and watched as others got in .Some people even took credit card advances to invest .
Alot of people felt it was a no brainer , just invest and it will go up automatically. History will repeat it self . Right now it seems easy to most people my self included . I have doubled my play money in a month , but not more than I can afford to lose . I started to see Bitcoin at $1000 and yawned . My take is only put in what you can afford to lose and we all want to win . Reinvest your gains and hold for the long term . Pick the right one and you win the lottery. But which one 1300 and counting right now . Im going to throw some best educated darts at the board and sit back and wait .
 

MetalGear

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  • I realized that this crypto craze has been distracting me from my primary entrepreneurial pursuits
  • Time and mental energy spent on this is spreading me thin
  • I did not meet my objectives for the week and it shows on Trello
  • I am going to establish a buy and hold as a long-term investment...
  • It will be about 2% of my portfolio, dollar cost averaged over time
  • Boom, DONE
 

JohnBuffet

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For those of you buying alt coins such as ripple, iota, dash, etc using an exchange such as Binance, do you feel its best to store these coins with the exchange (like keeping them in binance) or do you feel its best to transfer them to a wallet such as MyEtherWallet?
 
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Twopro

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I'm going to point you guys to 3 alt coins I think will do amazing in Q1-Q2 of 2018. Not saying invest in them, but definitely check them out.

Syscoin - Aiming to be the crypto ebay/amazon. Rebranding should be starting soon. They currently have the "blockmarket" available to use inside of their coin wallet where you can already buy stuff using Bitcoin/Syscoin/Zcash with some pretty big retailers from Canada already listing SKUs and are working on bringing a web version in Q1 that will make it "grandma friendly". Amazing team doing big things going under the radar. Masternodes coming in February as well.

CasinoCoin - Old coin that had died a while back but recently resurrected as a non profit organization in the Isle of Man with some big names on board.
They are aiming to bring crypto to online casinos. Coin is currently going a chain swap from a litecoin based algorithm to ripple based for the super fast transactions. This will bring the coin supply from ~40 million to 40 billion. Currently only on 1 exchange and it will start trading the new coin probably at the end of this week. Heres some links on the people involved in this project.
Main team - Board of Trustees - CasinoCoin
Advisors - Advisory Board - CasinoCoin

As you can see they have a lot of people involved in the gambling industry.

Last but not least. BlockCAT - Aiming to be like the wordpress or app store of smart contracts. They will be releasing the beta of their platform very soon with the first smart contract being an ICO maker. All the smart contracts they release will be a drag and drop type thing so people with no programming skills will be able to use smart contracts. Super low market cap at the moment.
 

Scot

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So I finally made it through a few of the crypto threads here. Man, my heads spinning. I was talking with @JAJT the other day about having some serious FOMO with crypto.

So I think my plan is to dabble in this a bit, drop a few hundred into IOTA and Cardano, and let them sit for a while. I definitely don’t have the time to devote to being an active trader. But after researching some of the lower priced Alt coins, I feel like those two seem to have pretty forward thinking Tech behind them that will make them valuable platforms in the years to come. Thoughts?
 

PedroG

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This is extremely frustrating. I've been waiting for over 2 weeks for Bitstamp to verify my account. Coinbase verification isn't working anymore due to high traffic so I can't buy anything right now. Ripple was at .22 when I first tried opening my Bitstamp account. It's at .47 right now.

Anywhere else I can go create an account? Poloniex doesn't allow New Hampshire residents anymore due to some dumb laws passed recently. Kraken is having connections errors. wtf!

What other exchanges besides Coinbase allow you to buy coins with USD?
 
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c4n

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Coinbase verification isn't working

I just finished my verification at Coinbase after numerous attempts in the last week. I now have 2 successfully verified out of 9 attempts, freaking frustrating.

Tips:
  1. both of my verifications succeeded from the Coinbase Mobile app, none from the website. If not already, download the app and go to Settings > Identity verifications > click the + button in top right corner

  2. Try different documents. I tried with ID card, passport and driving license. The first successful was my driving license (attempt 7/9). Today my passport was accepted too (attempt 9/9).

  3. Try verifying at different times of the day, for example once in the early morning, once around noon and once in the evening/night. But no more than once or you will hit your daily limits quickly.
 

PedroG

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I just finished my verification at Coinbase after numerous attempts in the last week. I now have 2 successfully verified out of 9 attempts, freaking frustrating.

Tips:
  1. both of my verifications succeeded from the Coinbase Mobile app, none from the website. If not already, download the app and go to Settings > Identity verifications > click the + button in top right corner

  2. Try different documents. I tried with ID card, passport and driving license. The first successful was my driving license (attempt 7/9). Today my passport was accepted too (attempt 9/9).

  3. Try verifying at different times of the day, for example once in the early morning, once around noon and once in the evening/night. But no more than once or you will hit your daily limits quickly.

Thanks. Yeah, I hit my daily limit today. I'll try it with the app tomorrow.
 

ZF Lee

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Really feel like sharing this little bit of advice for the other noobs like myself poking around in crypto. I know what you're thinking, as soon as your Coinbase opens up, you're going to start trying to trade and get more.

Don't.

Really, that shit will hurt you, completely unpredictable for a non-trader. Cost average a few times and leave it the hell alone. Shit runs up and down 20 and 30 percent, you don't even have time to do decent limits and stops before it blows right through them, by the time you cancel an order and get back on the screen, you're 30 precent off. You hit market buy just to stop it and regroup, eat the fee and the loss. F*ck that.

@biggeemac, you were right, it's just a pump and dump fest. You can see the patterns like waves, green green green, BOOM. Red down to your a$$.

Very happy for the guys here making bank doing it, no doubt you earned the skill. I'm stepping off after a little alt purchasing and focusing on my fastlane, this has been way too distracting. ;)
  • I realized that this crypto craze has been distracting me from my primary entrepreneurial pursuits
  • Time and mental energy spent on this is spreading me thin
  • I did not meet my objectives for the week and it shows on Trello
  • I am going to establish a buy and hold as a long-term investment...
  • It will be about 2% of my portfolio, dollar cost averaged over time
  • Boom, DONE
Agreed.
Happened to me too.
In fact, the Bitcoin worship all over Quora was INSANE. Never in my life have I witnessed such a craze.

Although the returns may be astronomical and crypto shows a splinter of the future, I ain't gonna do speculative investing here.
There are lots of things around that I can invest in, with better ground and understanding. And even should digital currencies become the norm, it's of not much loss. It'll go the same way brick and mortar business got impacted with the Internet. Sure, there was some drops and losses, but the economics still apply.

I'm gonna stick to the MJ DeMarco rule of 'getting out and staying out'. But I'll check in on the threads now and then so that I'm not 100% blind.
 
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PedroG

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Try Gemini.com, although they may be backed up as well, not sure.

Looks like they require your social security number? I guess I'll just have to wait for Coinbase. I don't feel comfortable giving them that.
 

MakeItHappen

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Arbitrage is the name of the game. Big win today, made a total of 5 trades. Each bigger than the last. LTC was once again the vehicle of choice. Pushed the withdrawal limits on all of my accounts today and scored exactly $10,000 in profit. Back to the shadows I go to wait for the next opportunity.
Great to here you are doing so good.

How much money do you risked to make the $10,000?
What is the risk you are taking?
Let's say a currency is trading for 100 at platform A and for 115 at platform B. What you do is buy as much as you can at platform A and than transfer it instantly to platform B to instantly sell it.
How long does the transfer take?
I used to make arbitrages in sports betting when the market was very inefficient many years ago so this sounds very interesing to me.

I guess you have to wait for big upward swings to make this work?
What about pump and dumps? Isn't that a risk for your strategy or are you only trading the bigger currenices to avoid this?

Any resources you can recommend?


btw sorry for all the questions haha but I like your approach because this way you make bank no matter if the hole thing is a bubble or not. Keep crushing it!
 
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MrYoshi

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  • I realized that this crypto craze has been distracting me from my primary entrepreneurial pursuits
  • Time and mental energy spent on this is spreading me thin
  • I did not meet my objectives for the week and it shows on Trello
  • I am going to establish a buy and hold as a long-term investment...
  • It will be about 2% of my portfolio, dollar cost averaged over time
  • Boom, DONE
I'm making this about 50% of my portfolio, but that's just me. I'm willing to take a good amount of risk over the next 4 years, but I have a similar strategy. I'm probably going to spend around 5-7k now for the long term. Some of these coins like ripple are golden for the long run as they already have over 100+ customers and 75+ others who are working with them. Too bad it went up 84% already, but I think a correction has to happen at some point. I think once you have your portfolio set it's just a matter of watching out for big ICOs and getting in early. That's what I plan on doing so I can focus more on building a fastlane business and enjoying the ride.
 

kaizening

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I'm out. Made a quick $13k in a month on LTC and BTC, but it's taking way too much energy and focus to stay on top of.

Dumb money is definitely in after the LTC spike.

I've seen so many comments like "I don't know how y'all do that 9-5 when I'm out here making 1k on litecoin in a DAY," or "all my money is stuck in ltc. plz go back up or im fukt"

Time to go back to adding value instead of looking for miracle coins.

Having said that, I'm long on crypto in terms of tech and societal implications. Good luck to all of you hodlers! If you're able to steadfastly ignore the madness, then I salute you.
 
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c4n

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Isn't crypto just an "event" and not a "process"? Seems very contrary to the whole message the books were trying to get across.
My take on things is crypto is just a playground, paid entirely from my F*ck you pot (not that it's that large yet to deserve that name :blush:). It's fun and exciting to watch everything grow and even if I lose everything "invested" in crypto, it's not going to have any financial impact on my life. No downside, just upside.

So build a business for income first then experiment/enjoy with money you can 100% afford to lose.
 
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Wow, it really is spreading isn't it?

I haven't been on the forum much all year because I've been doing, you guessed it, research into cryptocurrencies.

I'm looking past Bitcoin (and also Ethereum to some extent), although I do love and respect it as the "genesis".

Why? Because is showing itself to be a seriously flawed network.

There are something like 100,000 transactions stuck in the Bitcoin network right now, and the Ethereum VM is being similarly slowed down by a bunch of digital cats.

Bitcoin is supposed to be:
  • Fast
  • Cheap &
  • Worldwide
it's only doing one of those things right at the moment.

The only reason most people seem to be buying it is because everyone else is.

Genuinely curious question:
How many of you in the thread have tried to move it recently? Or pay for something with it?

On Ethereum, if it can't handle 1 app that needs a lot of transaction in order for it to function, how the hell are they going to cope when more and more of them come online?

I know they are trying to solve the scalabity issues on both networks, but any more people (and apps in ETHs case) flooding in right now, and that could cause the shit to the fan I think. (Short term at least).

I don't mean to sound bearish on the big 2, but I feel there are better projects on the horizon. (Not IOTA, since that has been metioned).

Blockchain 3.0 is coming, and if these networks can't get their issues fixed they will be overtaken I feel.

I'm still holding both. But as the OP has stated; diversifying is probably the safest bet.
 

MidwestLandlord

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A 70 year old woman I know, who can barely work her email, asked me yesterday if I knew anything about "this bitcoin thingy"

She's fairly wealthy and wants to buy some now.

Dumb money is definitely here.
 
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MJ DeMarco

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My take is only put in what you can afford to lose and we all want to win

Yup, it's money you take to Vegas. If it isn't, one needs to have their head examined.

I realized that this crypto craze has been distracting me from my primary entrepreneurial pursuits

Crypto should be in the f*ck you/speculative pot and considered an investment unless you're on the entrepreneurial side and messing with the technology and an ICO.

Isn't crypto just an "event" and not a "process"?

People are confusing this as a business. It's a speculative investment and belongs in the F*CK YOU pot where speculative adventures are drawn.

Dumb money is definitely here.

Yup, I walked through that door a few weeks ago. Problem is, most people won't admit their the dumb money. I will. {Here's me raising my hand!} :p
 

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Dumb money is definitely here.

Bitcoin/crypto is a global speculative asset; there is a lot more dumb money coming down the pipe from all over the world (and lots has already come in), unlike real estate or other bubbles.

On top of that, Wall Street is not at the ground floor of this bubble.

For those reasons, my theory is that the bubble pops after Wall Street floods into the market.
 
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