Cryptocurrency Experience

[PopEmersen]

The rally is on, back up to $680 today

 

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[exige]

Doge is pumped SO HARD right now, it's up 400% in 24 hrs

http://coinmarketcap.com/

I have about a million DOGE and have been hanging on...but maybe its time to start selling into this... I'm kind of afraid to transfer coins into cryptsy after reading all of the horror stories... But DOGE is up soo much its ridiculous.

 

[CryptO]

I transferred my Doge earlier today with no problems but I've been getting loads of other errors at Cryptsy.

For example, I just bought another 9000 quarks. Cryptsy double ordered, I ended up with 18000 Quarks and MINUS 1.2 BTC.

 

[mememan]

Are you all just holding your coins in Crypsty? Then if you want some cash, convert from altcoins to bitcoins, send back to Coinbase and then collect USD?

 

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[CryptO]

Are you all just holding your coins in Crypsty? Then if you want some cash, convert from altcoins to bitcoins, send back to Coinbase and then collect USD?

No I never hold all my coins in an exchange such as cryptsy, you can never be too careful.

Nothing to stop them disappearing tomorrow.

I only keep a small amount for day trades, if I'm not trading at all I withdaw everything to my encrypted wallets.

 

[RHL]

What's the end game for you guys? The real question is, how easy is it to convert this stuff immediately into piles of cash (not goods)? Numbers on a ticker look good, but real paper is still king.

 

[mememan]

I only keep a small amount for day trades, if I'm not trading at all I withdaw everything to my encrypted wallets.

How do you do this if you want to hold a little of every cryptocurrency? Holding and maintaining 60+ wallets seems to be a pain, though I'm assuming you're not in as many.

Have you done anything with cryptostocks? Any exchange you'd recommend?

 

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[exige]

So I transferred a small amount of DOGE into Cryptsy as a test to try it out...and...poof! WTF. It shows my balance in the balances page, but no deposit transaction is shown, and when I go to try and put in a sell order it tells me my balance is 0. Does. not. inspire. confidence. I'm sure glad I haven't spent any actual real money on this stuff...I just mine it. But right now I guess I'm stuck, with no way to liquidate.

 

[PopEmersen]

I have my 2 BTC in coinbase. I dont trust Cryptsy. My endgame is to sell, I havent picked my sell price yet because I need more info.

 

[exige]

Anyone tried coinedup.com?

 

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[CryptO]

So I transferred a small amount of DOGE into Cryptsy as a test to try it out...and...poof! WTF. It shows my balance in the balances page, but no deposit transaction is shown, and when I go to try and put in a sell order it tells me my balance is 0. Does. not. inspire. confidence. I'm sure glad I haven't spent any actual real money on this stuff...I just mine it. But right now I guess I'm stuck, with no way to liquidate.

I didn't mean to like this post btw.

Go into your balances tab and click on audit my account.

It should sort your problem out.

Cryptsy is very laggy and buggy and sometimes annoying as hell, but for certain coins there just isn't much else.

 

[CryptO]

How do you do this if you want to hold a little of every cryptocurrency? Holding and maintaining 60+ wallets seems to be a pain, though I'm assuming you're not in as many.

Have you done anything with cryptostocks? Any exchange you'd recommend?

That would be a pain, but I don't know of any multiple wallet service.

Perhaps that could be a business idea for somebody?

Not touched cryptostocks as the coins themselves have outperformed any kind of stock I've seen so far.

As for exchanges, although cryptsy is terribly buggy at times they do always pull through.

I've been using BTER.com recently but even they've had problems reported.

The best crypto exchange is BTC-e.com, but they only trade in limited cryptos.

There are other ones such as coinex.pw and vicurex.com but are yet to get high volume for quick turnover.

It is unacceptable that millions are being passed through these exchanges and they are plagued with problems but we don't have much choice atm.

 

[exige]

Tried clicking that Audit button. Nothing changed so far. It is showing my DOGE as a pending deposit. It said they would post after 6 confirms. There's been 85.

Perhaps financial market regulation exists for a reason....... I think the cottage industry must be starting to realize that building scalable trading platforms is not easy. I saw a kid post source code for a proposed exchange that made me cringe. I hope cryptsy gets this sorted out, but I'm sure by the time they do DOGE will have crashed back down to nothingness.

 

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[CryptO]

Overstock.com to accept bitcoins; CEO says ‘money is too important to leave in the hands of government officials’

http://blogs.marketwatch.com/thetell/2013/12/19/overstock-com-to-accept-bitcoins-ceo-says-money-is-too-important-to-leave-in-the-hands-of-government-officials/

 

[Shuffle]

Wait what, dogecoin is real?

I'm not sure what to do with this information. Baffled almost.

Wow.
Such surprise.
Much confuse.

 

[CryptO]

Quark took a massive knock today just as we were picking up speed again.

An irresponsible whale dumped 1 MILLION Quark onto Cryptsy at 25% less than the current sell order.

He ate up a vast amount of buy orders and we were pushed down from $0.12/0.13 to below $0.078.

The 1 Million sell order (equivalent to 120 BTC) got eaten up in a matter of 20 to 30 minutes however it has really knocked the wind out of Quark, and recovery has been gradual ever since.

 

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[exige]

Well, it is the top of the pump for Quark now, no? Are there any further pumps lined up after Keiser?

 

[CryptO]

Quark has ongoing pumps.

Max and especially Bill Still, will continue talking about it.
New website + forum in development.
New promotional video on its way.
Quarkpayment system; launching private beta in January, to provide a standalone platform to open up merchant payments: including a mobile phone payments module and possibly a stand alone fiat/quark exchange (so quark can be directly purchased for fiat)
Always a possibility of Quark getting added to Chinese exchange but that's obviously a bit more complicated in light of recent events.

 

[Jake]

What's the end game for you guys?

Move to an island. Sip on umbrella drinks

 

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[JayKim]

If BTC ever becomes worthless

 

[CryptO]

Bitcoin and the alts have been clawing their way back after this weeks crash due to Chinese restrictions on third party payment processors.

They've still got a long way to go before returning to the previous heights that we had early December.

However, we are Friday now and here lies a conundrum and it's been mentioned before in this thread.

Weekends have, for the past 4 to 5 weeks, meant mini crashes or at least a respectable dip in value.

Here is a chart that documents the weekend dips https://www.tradingview.com/v/ZyVxjSSo/ (if you click on the right hand part of the chart you can load up the latest data).

Do you liquidise now whilst high and profit on the dip at the weekend?

Normally I would say yes but I'm wrestling with the following scenario.

We have not recovered to my buy in price for Quark.

If I was to liquidise half my Quark holdings at 35% less today so that I could get bitcoin and then convert the bitcoin into fiat $ then I would be greatly exposed to the following risk.

There is no crash this weekend (for a change). The price continues to rise. I now hold a weaker position in Bitcoin than I originally had = losing.

If I want to buy back in to recover on my now losing position so I can have the same number of Quark, it's going to cost me more Bitcoin because it's more expensive = losing.

So in this scenario we get losing + losing = double loss (not very attractive).

On the other hand - if I sell half Quark holdings today and recover say 20 BTC, I convert these BTC into fiat $ at spot price $700 per BTC = $14000

The price takes a hit this weekend of 25% of the Friday price (today) meaning 1 BTC can be purchased Sunday (worse day the previous 5 weeks) for $525 ($175 less than today).

That means my $14000 in the exchange that I got from selling 20 Bitcoins can now buy 26.6 BTC on Sunday = 6.6 BTC more than I started with = Win

If BTC collapses this weekend then the Alts will follow as always and I'll be able to purchase Quark on Sunday at way below todays value = Win (Quark holding increased considerably).

So in this scenario I do get a win + win = double win!

Do I go with the prospect of a double win - or a double loss?

That is the question I'll be asking myself all day.

 

[CryptO]

Slight modification of my plan above because now I'm going balls in.

Based on the (home cooked) double win stratagy outlined above; we have lost value every weekend for over a month topped with current market uncertainties it feels like there is all the more reason for this downward weekend trend to continue, plus volume seems low.

On that basis, I just liquidated all my Quark holdings into Bitcoins; The bitcoins have been sold off too and I got $35000 at Bitstamp (big risk too) to play with in an attempt to increase my overall holdings by buying lots of cheap coins come the next sign of recovery (if we crash or downtrend).

PLEASE NOTE: THIS IS LOTS OF IFS AND BUTS: THE EXACT OPPOSITE CAN HAPPEN. ABSOLUTELY NO CONTROL HERE. THIS IS A SO CALLED FREE MARKET AND IS AT THE WHIMS OF GOVERNMENT DECISIONS AND HEADLINES AS WE'VE SEEN MANY TIMES OVER. PLEASE DEVISE YOUR OWN STRATEGIES. IF I COULD NOT AFFORD TO LOSE I'D KEEP HOLDING RATHER THAN ATTEMPTING TO PLAY THE MARKET.

Wish me luck!

 

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[RCore]

hey guys, where do you follow the latest bitcoins/altcoin news etc so you are always up to late with the current info?

 

[RHL]

Move to an island. Sip on umbrella drinks

I hope you guys make it, but if you keep losing 50% of your investment in 3 hours, that's going to be a pretty small island and some pretty virgin drinks.

 

[CryptO]

hey guys, where do you follow the latest bitcoins/altcoin news etc so you are always up to late with the current info?

http://www.coindesk.com/
https://bitcointalk.org/ <<< there is a press section at btctalk.org

Those two are a good place to start.
After that you have twitter accounts, reddit, bbc.co.uk (bitcoin search), forums, shout boxes, youtube videos etc etc.

 

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[biggeemac]

I bought my one little coin at $580.....at this point, im looking for a nice HUGE dip. One share of anything is never good. I should have bought two coins in restrospect.....just to get my feet wet while having an opportunity to pull some profit while still leving some skin in the game.

Anyway, im doing this for fun. Enjoying watching this whole thing. God, why didn't i load up on BTC way back when instead of that physical silver crap that JPmorgan has been manipulating? f'ing ponzi schemers lol :/

 

[Mbc]

Slight modification of my plan above because now I'm going balls in.

Based on the (home cooked) double win stratagy outlined above; we have lost value every weekend for over a month topped with current market uncertainties it feels like there is all the more reason for this downward weekend trend to continue, plus volume seems low.

On that basis, I just liquidated all my Quark holdings into Bitcoins; The bitcoins have been sold off too and I got $35000 at Bitstamp (big risk too) to play with in an attempt to increase my overall holdings by buying lots of cheap coins come the next sign of recovery (if we crash or downtrend).

PLEASE NOTE: THIS IS LOTS OF IFS AND BUTS: THE EXACT OPPOSITE CAN HAPPEN. ABSOLUTELY NO CONTROL HERE. THIS IS A SO CALLED FREE MARKET AND IS AT THE WHIMS OF GOVERNMENT DECISIONS AND HEADLINES AS WE'VE SEEN MANY TIMES OVER. PLEASE DEVISE YOUR OWN STRATEGIES. IF I COULD NOT AFFORD TO LOSE I'D KEEP HOLDING RATHER THAN ATTEMPTING TO PLAY THE MARKET.

Wish me luck!

Good luck.
We've been noticing that trend except this week it crashed on Monday, so I'm not sure what will happen this weekend.
Too risky for me, can't afford to lose money right now anyway, I'll just stick to brokering for now.
Also I don't like dealing with the websites, I've heard people have had their $$ and BTC frozen for weeks at a time and I don't trust having my money on the websites.

Hope it works out though, BTC has been climbing back strong. It'll be really interesting if it does dip again on the weekend. I wonder if it's because banks close and people can't get a lot of money out on the weekends.
China banned Facebook how could we think it wouldn't ban BTC?!

 

[RCore]

http://www.coindesk.com/
https://bitcointalk.org/ <<< there is a press section at btctalk.org

Those two are a good place to start.
After that you have twitter accounts, reddit, bbc.co.uk (bitcoin search), forums, shout boxes, youtube videos etc etc.

Thank you for that. Will have to bookmark all these to keep updated. Never had a twitter account before, always hated it, guess I have to get past that and make an account now.

I invested $1800 AUD on Tuesday and right now my portfolio is worth roughly $2500 AUD. The market crashed around then and I thought my investment had gone to cr** on the first day hahaha. But I ended up doing some smart trades and I'm nicely ahead when everyone else seemed to be in panic. Mainly dealing with Quartz and Dogecoin right now.

 

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[CryptO]

Thank you for that. Will have to bookmark all these to keep updated. Never had a twitter account before, always hated it, guess I have to get past that and make an account now.

I invested $1800 AUD on Tuesday and right now my portfolio is worth roughly $2500 AUD. The market crashed around then and I thought my investment had gone to cr** on the first day hahaha. But I ended up doing some smart trades and I'm nicely ahead when everyone else seemed to be in panic. Mainly dealing with Quartz and Dogecoin right now.

Congrat$, it's not easy to make money when most people are running away.

Hope your success continues and look forward to hearing more updates!

 

[Jake]

I hope you guys make it, but if you keep losing 50% of your investment in 3 hours, that's going to be a pretty small island and some pretty virgin drinks.

Yup. At the rate that I've been losing money I won't just live on the island; I'll own it.