(04-22-2017 11:44 AM)PharaohRa Wrote: I would also consider ethereum as well. The price for 1 ether is around 50 US Dollars. Potentially that could be a much better investment than Bitcoin since it has interest from a lot of parties. Furthermore, it would not hurt for people to consider building mining rigs to obtain ethereum.
(04-22-2017 12:36 PM)Armogan Wrote: What did your personal bitfx withdrawal story have to do with the larger group and BTC overall?
(04-22-2017 12:36 PM)Armogan Wrote: ETH is solid and will continue to rise, it's about to pop off, calling it now.
(04-22-2017 12:36 PM)Armogan Wrote: I wouldn't buy a mining rig for ETH as they are moving to proof of stake, essentially eliminating mining altogether. When that happens it will be over $100 easy.
(04-22-2017 07:55 PM)PharaohRa Wrote: JayJuanGee, the reason why I brought up ethereum is that I see it as a good alternative to Bitcoin (and potentially better).
(04-22-2017 07:55 PM)PharaohRa Wrote: Bitcoin right now is around 1200 and it's appeal to many is that it is deflationary due to the limited supply that will ever exist. With how cryptocurrency is evolving, Bitcoin itself may be viewed as a mature product with little room to grow.
(04-22-2017 07:55 PM)PharaohRa Wrote: Ethereum is still in the early stages and has room to grow since the big boys (i.e. the bankers) have started to embrace the technology behind it.
(04-22-2017 07:55 PM)PharaohRa Wrote: Now with respect to mining,
1) For the supposed PoW to PoS move, they have mentioned that event ever since 2016. The planned move from Proof of Work to Proof of Service was the talk around the circut but to my knowledge, it has not been done yet and should be viewed as mere speculation until there is definitive proof of a timetable.
2) With respect to mining, I have recently started on a project to determine the profitability of mining. Right now, I have 2 rigs and plan to move to 4 in the next few weeks. My cost per rig is around 2200 to 2300 and even with potentially paying 500 dollars a year for electricity, I can expect to make some profit with ETH at 50 (at least 50 to 100% return in the 1st year). Also, you have to account for the lifespan of the rig and the frequency of replacing some of the parts. However, mining may not be for everyone since it requires some technical knowledge in computers and computing systems (ethos is recommended for mining as well as joining a pool to get your feet wet).
(04-22-2017 07:55 PM)PharaohRa Wrote: Overall, any decision should be based on your risk tolerance, time commitment and opportunity cost. If you have spare time and are willing to get your hands dirty, take a shot at building a few rigs and mine ethereum. I recommend the site http://www.cryptocompare.com or the ethereum forums on reddit and the ethereum website as a springboard.
(04-22-2017 07:55 PM)PharaohRa Wrote: However, if the costs are not worth it due to the commitment required, you are better off getting an ethereum wallet at MyEtherWallet.com, opening an account at Kraken or Poloniex or Coinbase if you live in an area where you cannot speculate on cryptocurrency and buy coins the same way you buy stocks via an online exchange.
My 2 cents.
Quote:Yep. These seem to be the talking points of various alt coin pumpers (including the ethereum pumper for more than a year now) to suggest that Bitcoin is mature and you may have better opportunities with some other alt coins like ethereum.
I doubt that such premise of "bitcoin is mature" is very well founded, but I do understand that some folks may want to hedge their bets, whether that is ethereum or some other coins.
To me, it does not sound like you are hedging your bets, but instead you are going bigger or "all in" to ethereum, but you did not say anything about the extent to which you are investing in bitcoin, if at all, except to describe bitcoin as arguably "mature"
Same question. What position are you suggesting in regards to bitcoin? hold it, sell it, short ot, hold only a small part? how much if any should you hold, sell, or short?
Remember what thread we are in?
This is not the "just happens to be almost like bitcoin, let's pump another coin thread." Is it?
Quote:You still have not discussed any ratios of allocation of cryptos. Are you suggesting 100% ethereum or do you have any other consideration of other possible coins - even some coins that might be related to the topic of this thread... ?
(04-23-2017 08:56 AM)PharaohRa Wrote: JayJuanGee
So, sticking to the topic of the thread, I will cover anything Bitcoin related:
(04-23-2017 08:56 AM)PharaohRa Wrote: I will clarify this point. I would hold bitcoin, only because in my opinion, it is viewed as a useful store of value from an electronic POV for the time being, akin to gold. As to how much you should hold, treat bitcoin as you would treat any reserve source, hold enough where if you had to treat it as an emergency reserve you could live off of it for a defined time period (months to a year)
(04-23-2017 08:56 AM)PharaohRa Wrote: Viewing this from a speculative point of view, and given a position (and my bias towards ethereum) I would allocate at least 50% Ethereum, with the remainder of equal allocation (12.5% allocation) towards ZCash, Dash, Monero and yes, even some Bitcoin. My reasoning for the heavy ethereum allocation is linked to what I stated in prior posts and shown in links below. As for my other selections, ZCash, Dash and Monero have received some attention in the crypto world due to their blockchain concepts being given further scrutiny. As for bitcoin, I stated my view above, it is seen as a good store of value and even though I think it has "matured" where you have a different view.
(04-23-2017 08:56 AM)PharaohRa Wrote: Some of my ethereum views are obtained from the links below:
http://www.zerohedge.com/news/2017-02-27...n-alliance
https://www.ethnews.com/the-banking-indu...blockchain
http://fortune.com/2017/02/28/ethereum-j...-alliance/
Also, the opinion above is my opinion and of course, DD is always needed before engaging in any action.
(04-23-2017 08:56 AM)PharaohRa Wrote: Furthermore, let me clarify why I think bitcoin is "mature":
1) From a mining POV, only major miners can mine it making a profit
(04-23-2017 08:56 AM)PharaohRa Wrote: 2) Alot of people have heard about bitcoin already and it is somewhat mainstream.
(04-23-2017 08:56 AM)PharaohRa Wrote: There are a lot of apps out there that can use bitcoin for payment
(04-23-2017 08:56 AM)PharaohRa Wrote: 3) It is too recognizable to too many people
(04-23-2017 08:56 AM)PharaohRa Wrote: 4) It is viewed as a good store of electronic value
(04-23-2017 08:56 AM)PharaohRa Wrote: Also, I noticed that you have a bias towards bitcoin when you mentioned about the release of alt coins as a "passive-aggressive" attack over bitcoin. Why is that?
(04-23-2017 03:18 PM)Malone Wrote: On a completely unrelated not, Aspergers is a terrible tragedy of a disease that strikes down our young men.
I say that in the Bitcoin thread, since it's a very Sperg friendly thing.

(04-22-2017 10:18 PM)JayJuanGee Wrote:(04-22-2017 07:55 PM)PharaohRa Wrote: Bitcoin right now is around 1200 and it's appeal to many is that it is deflationary due to the limited supply that will ever exist. With how cryptocurrency is evolving, Bitcoin itself may be viewed as a mature product with little room to grow.
Yep. These seem to be the frequent talking points of various alt coin pumpers (including the ethereum pumpers for more than a year now) to suggest that bitcoin is mature and you may have better opportunities with some other alt coins, like ethereum.
(04-21-2017 01:02 PM)JayJuanGee Wrote:(04-20-2017 02:58 PM)JayJuanGee Wrote: The linked article has a decent discussion of the Litecoin segwit activation situation - kind of bordering on the 75% activation threshold and considerations in the article that intentional sabotage may be taking place... which partially explains the recent litecoin hashrate increase.
https://www.reddit.com/r/Bitcoin/comment...reventing/
In bitcoin, segwit signaling seems to be maintaining the low 30% arena... so seems quite a ways from activation in the bitcoin scene.
The more interesting phenomenon in the bitcoin space seems to be the considerably great spread between prices on different exchanges.. and not going away and continuing upwards buying pressure... which seems to provide a suggestion that some kind of price correction must be on its way (whether that price correction is up or down, is still unclear - though I am kind of becoming more receptive to down - even though it is no where close to any kind of done deal).
This below linked article is a kind of status update to my earlier above post (and supplemental).
http://www.coindesk.com/litecoin-miners-...n-upgrade/
This may explain litecoin's additional upsurge from yesterday, about 15%..... and yeah of course these segwit developments in litecoin could affect seg wit consideration matters on bitcoin... litecoin as a testing station?
(04-24-2017 02:54 PM)Stun Wrote: There's been a lot of discussion around whether alt-coins should or should not be discussed in this thread independent of Bitcoin, to the point that it's derailing the thread.
So, shall we put it to a vote?
If I read prior posts in this thread accurately, we currently stand at 6-2 in favor of alt-coin discussion taking place independent of bitcoin: Yea (6) - Satoshi, SunW, Armogan, Skank Hunt, Stun, Issac Jordan, and Nay (2) JJG and zoom. Would anyone like to add their tally to the vote, and do we need to open a separate 'vote' thread?
(04-24-2017 03:48 PM)Cattle Rustler Wrote: We should vote on how long we need to keep the replies.
I'd say folks should use twice as many words as the person they are replying to use.
So if Timmy posted 50 words, Jimmy can use 100 max.




(04-24-2017 11:35 PM)Armogan Wrote: If you read five words of the post above, then stoped reading like this post.
The whole max word limit suggestion went right over your head.
I'm calling for a new vote: this thread will be retitled "Everything but Bitcoin Thread". It will retain the entire 160 page history, and another thread will be entitled "The Official Bitcoin Only Thread".
That should remove confusion.
HELROW?