(05-03-2017 07:43 PM)pants Wrote:  "I personally am stuck on bitcoin until it is not doing what it has already been designed to do.. and that is the immutable secure censorship resistant storage and transfer of value."

I would argue on this one.
A typewriter was designed to increase typing speed over handwriting. It still does to this very day. That does not mean it´s the best option in 2017.

You can argue all you want about the theory. and your final conclusion but take the components. You are suggesting that bitcoin is not keeping up and it needs to change and to be innovative... which is starting out with a bad assumption that would undermine bitcoin if bitcoin could change like you suggest.

These are the fundamentals as separate concepts but also taken together.

Secure:

decentralized

immutable:

Censorship resistance

Value storage:

Value transfer:


The combination of these makes bitcoin great for what it does. If you want another crypto for some other thing, then fine.



[quote='pants' pid='1563819' dateline='1493858624']
Bitcoin being the original, it carries name recognition. I seen a lot of ups and down.

It is more than just name recognition. No other coins got the various networking effects of bitcoin.. maybe they are working on it, and I have no problem investing in others as they might develop some distinquishing characteristics.. if I believe any of them to be valuable.. beyond pump and dump and if they are really offering something besides smoke and mirrors and imitation.

(05-03-2017 07:43 PM)pants Wrote:  And the overall trend is bitcoin is less volatile in both direction.

Well of course that is true. If you have an increased market cap and also increased locations in which the price is controlled, it is going to be more difficult to manipulate the price (or to pump it)

(05-03-2017 07:43 PM)pants Wrote:  And i think the thought process can briefly summarized like this "Bitcoin goes down?! If bitcoin can't make it. Then defiantly alt-coins can't make it! Sell sell sell!". Visa verca for upward movements.

Yeah, there maybe a lot of correlation, but there may be some coins that end up distinguishing themselves or moving in a direction other than the direction of bitcoin.. these dynamics take time and networking effects beyond mere pump and dump.

(05-03-2017 07:43 PM)pants Wrote:  I still think bitcoin is a good investment, if you want to take less risk(relatively speaking), and are satisfied with less return(relative) on your investment.

I mostly agree - except maybe with one condition that less risky might end up being greater return on your investment...

If you assert that some coin has a potential for 100x, but bitcoin only has 2x, then yeah you have potential, but the other coin could also be just smoke and mirrors... with a high possibility of nearly 100% loss.

(05-03-2017 07:43 PM)pants Wrote:  That´s why i plan on invest in both bitcoin and perhaps an alt with technology that interest me when my finances picks back up.

Nothing wrong with that.

I would recommend dollar cost averaging for everyone and don't wait. Even if you are only investing $10 per week, the investment can add up over time.

But of course, how you allocate your $10 per week could also be important... maybe you decide to invest $5 in bitcoin $2 in Ethereum, $1 in litecoin, $1 in monero and $1 in zcash. I would personally invest 95% or more of it in bitcoin.. but guys will sometimes chose other kinds of priorities and allocations as we saw in some of the earlier posts.

On the other hand, when we have such a steep rise in bitcoin prices (nearly 14x in 20 months), it may cause me to rethink my allocations, especially if I am just getting in.

Each guys gotta think about these matters for himself, his finances and his perception of the situation.

Damn look at LTC, what in the...? From $4 to $16 I thought it was surely due a big correction but it just carries on up to 20 and beyond. BTC may have gone past $1500, next stop 2000, but here we are starting to see the much smaller % changes in BTC vs other alts due to the bigger price. BTC up 3% on the day... LTC up 30%...

Coinbase implemented LTC into their service

To get out of coinbase and their high fees, I created a new account with GDAX. But apparently Coinbase owns GDAX and it asked to take photos of my driver's license.

So much for privacy.

But does GDAX also charge high transaction fees?

EDIT: Trying Poloniex now, sending 1 ETH from coinbase to Poloniex as a test. Could take a while, but hope it works.

(05-03-2017 06:34 PM)pants Wrote:  Not having spent much time staying up to date on the latest development around cryptos, my take is still something like this.
- There is definatly a place for cryptos.
- Cryptos are not easy enough for the everyday users. related to the everyday user loosing their cryptos far to easily.
- The scalability problem has still not been sorted out(3transactions/second). This needs to be sorted out for cryptos to compete with VISA/Mastercard(2000transaction/second).

ETH will solve this with Raiden, implemented with the Metropolis hardfork. Scheduled to happen by end of July. 1,000,000+ tx/sec. Also will be implementing sharding to aid scaling.

(05-03-2017 06:34 PM)pants Wrote:  I find the network fascinating, and wasteful at the same time. Spending huge amounts of resources on ´miners´to do more or less mindless calculations in order to generate crypto. There´s hopefully a better way in the future.

ETH will address this with Casper, another hard fork end of the year or next year. Moving to Proof-of-Stake, eliminating mining capping the supply at around 108m. Stakers will get 8% interest a year for staking coins and verifying transactions.

(05-03-2017 06:47 PM)JayJuanGee Wrote:  Accordingly, despite the infighting in bitcoin and the likely ongoing and never ending fighting aspect of bitcoin, you are not going to get away from it's continuing strong fundamentals that have not been undermined by some of the varying attempts to change governance through purported hardforks and stupid ass "scaling" issues.

It's fundamentals are shit, there is no future for technological progression. The only future is fluctuations in price. Slow transaction times (over an hour), very high fees. Can't scale. Can't implement effective platforms on the network. Storj has left the BTC platform and moved to Ethereum.

(05-03-2017 06:47 PM)JayJuanGee Wrote:  In the end, the importance of the paradigm shifting nature of bitcoin is going to continue to differentiate it from varying wanna be competitors.. namely the immutable decentralized secure ability to store and transfer value..

Wrong. Nearly every coin can do this, except Dash and GNO which is controlled by oligarchies.


[quote='JayJuanGee' pid='1563806' dateline='1493857343']
bitcoin is the shit.. and it is not merely a question about it's price going up. We could be at $890 (we were there only a bit over 1 month ago) and bitcoin would still be the shit.

Delusional again. Only reason things are all rosy for you right now is because of the price. Does anyone else actually believe this nonsensee? BTC would be the "shit" even if it was at $890 compared to the price today?

(05-03-2017 07:22 PM)JayJuanGee Wrote:  Bitcoin is the shit, not just because of its current high price.

Wrong again. Bitcoin is shit, despite it's high price. It'll probably go $2,000. It's still shit. Nonetheless, I buy/sell it all the time. I'm an opportunist. For technologies in this space, it's shit. Offers nothing, except market size, that other coins can provide. That will change.

(05-03-2017 09:16 PM)CleanSlate Wrote:  To get out of coinbase and their high fees, I created a new account with GDAX. But apparently Coinbase owns GDAX and it asked to take photos of my driver's license.

So much for privacy.

But does GDAX also charge high transaction fees?

No 0 fees if you execute a maker order.

(05-03-2017 09:58 PM)Armogan Wrote:  

(05-03-2017 09:16 PM)CleanSlate Wrote:  To get out of coinbase and their high fees, I created a new account with GDAX. But apparently Coinbase owns GDAX and it asked to take photos of my driver's license.

So much for privacy.

But does GDAX also charge high transaction fees?

No 0 fees if you execute a maker order.

Nice. But that's weird considering it's integrated with coinbase.

And GDAX wouldn't accept my photos of my ID, gave it a couple of tries. Stupid shit gets in the way of me trying to time the crypto market...

When you buy on coinbase, they are placing the order on GDAX. They charge fees because you need to have a bit more technical understanding to do it.

It makes sense when you think about it. It's kind of like a travel agent. You can book flights directly yourself and figure it all out, or you can pay 5% for someone to do it for you. The ticket is still purchased directly from the airline.

Someone who isn't me bought a bunch of fake IDs, a kilo of Colombian blow, and a gold plated AK47 on Alphabay. You can try to buy some if your ID isn't working.

Crypto is surging in Donald Trump's America.

Best. Timeline. EVER

Total crypto market cap is $40.8bn at time of writing. This looks like the proverbial "hockey stick" moment.

I'm thinking/hoping we take a good correction before blasting off toward $80bn. If I'm right and we drop a bit, I'll wait through the day then take out margin longs on my stash (20% BTC 80% ETH).

I don't think I've ever been this excited in my life.

(05-03-2017 09:16 PM)CleanSlate Wrote:  To get out of coinbase and their high fees, I created a new account with GDAX. But apparently Coinbase owns GDAX and it asked to take photos of my driver's license.

So much for privacy.

But does GDAX also charge high transaction fees?

EDIT: Trying Poloniex now, sending 1 ETH from coinbase to Poloniex as a test. Could take a while, but hope it works.

most of the exchanges that are doing business in dollars are engaged in some kind of KYC AML - that is if they are attempting to be compliant with various USA regulations..

If you are attempting to achieve quasi anonymous acquisition of bitcoin, the more direct buying is the better way to accomplish that - and that usually comes at a cost to go through Localbitcoins or maybe if you meet some people privately they may be willing to do for a lower fee.. not easy to find those kinds of folks because we want to cover ourselves too. On the other hand, if you place your own Local bitcoins ad, then you may be able to set your own terms to have someone sell to you - and if your rate is better than other buyers on there and in your local area.

(05-04-2017 12:02 AM)Isaac Jordan Wrote:  Crypto is surging in Donald Trump's America.

Best. Timeline. EVER

Total crypto market cap is $40.8bn at time of writing. This looks like the proverbial "hockey stick" moment.

I'm thinking/hoping we take a good correction before blasting off toward $80bn. If I'm right and we drop a bit, I'll wait through the day then take out margin longs on my stash (20% BTC 80% ETH).

I don't think I've ever been this excited in my life.

Yeah it's insane. I want to buy more ETH but right now it goes against my buy low sell high principle.

Can prices please drop a little bit so we can come up for air? Haha

By the way, I discovered you could put USD in your poloniex account through Tether.io. There's a Tether USD or "USDT" marker in there, so you should be able to stash your dollars in there and trade in and out of any coin you want.

But you have to go through the verification process at Tether, and they ask for everything under the sun. Including an utility bill to prove your address is indeed where you live. It was pretty irksome, but I had the option to send in a tax statement with my address on it. Hopefully they'll accept it... and if they do, it's GAME TIME!

This applies to ETH, LTC, and any other cryptocurrency, and the only reason I'm posting this in the BTC thread is that it gets the most traffic.

It's actually not dollars. It's digital dollars, think bitcoin address but pegged to the USD.

There have been some liquidity issues with USDT, stemmed from problems with Bitfagnex. USDT is now trading a discount to the USD.

I wouldn't hold USDT now, not until we see if it resolves itself.

(05-04-2017 01:18 AM)CleanSlate Wrote:  By the way, I discovered you could put USD in your poloniex account through Tether.io. There's a Tether USD or "USDT" marker in there, so you should be able to stash your dollars in there and trade in and out of any coin you want.

But you have to go through the verification process at Tether, and they ask for everything under the sun. Including an utility bill to prove your address is indeed where you live. It was pretty irksome, but I had the option to send in a tax statement with my address on it. Hopefully they'll accept it... and if they do, it's GAME TIME!

This applies to ETH, LTC, and any other cryptocurrency, and the only reason I'm posting this in the BTC thread is that it gets the most traffic.

Yeah.. like moggie said there is a tether discount at the moment.

Tether is $.93 or $.94... so if those are your only fees, you are paying about 6% or 7% to use Tether.

(05-04-2017 01:29 AM)Armogan Wrote:  It's actually not dollars. It's digital dollars, think bitcoin address but pegged to the USD.

There have been some liquidity issues with USDT, stemmed from problems with Bitfagnex. USDT is now trading a discount to the USD.

I wouldn't hold USDT now, not until we see if it resolves itself.

Wow, that sucks. Is there another way to get my USD into poloniex? Or just buy coins and send them there?

(05-04-2017 12:31 AM)CleanSlate Wrote:  Yeah it's insane. I want to buy more ETH but right now it goes against my buy low sell high principle.

Can prices please drop a little bit so we can come up for air? Haha

I've been looking at charts and prices all week and thinking the exact same thing - but I'll be a lot less circumspect this time.

I planned to buy ETH a couple weeks ago, but wanted to wait for it to drop from $49 back down to $40. I won't make that mistake again.

(05-04-2017 01:38 AM)CleanSlate Wrote:  

(05-04-2017 01:29 AM)Armogan Wrote:  It's actually not dollars. It's digital dollars, think bitcoin address but pegged to the USD.

There have been some liquidity issues with USDT, stemmed from problems with Bitfagnex. USDT is now trading a discount to the USD.

I wouldn't hold USDT now, not until we see if it resolves itself.

Wow, that sucks. Is there another way to get my USD into poloniex? Or just buy coins and send them there?

I think that I mentioned this before. I have a few exchanges that I send dollars to, and I have other exchanges that I only send coins to.... over time, you can build up your dollar supply on all of the exchanges so long as you continue to sell on the way up.. It is another way of employing arbitrage while engaging in a bit less moving around of coins (or dollars) and it works especially well if the price drops drastically on an exchange in which you send dollars, then you stack up on bitcoins on that exchange but then sell the same quantity of bitcoins on another exchange to build up your dollars on the other exchange that you do not generally send dollars.

Bitcoin Percentage of Total Market Capitalization




Down from 85 % to 59.7 % in just three months.

What does this mean?

Chart from: http://coinmarketcap.com/charts/#btc-percentage

(05-04-2017 02:09 AM)Satoshi Wrote:  Bitcoin Percentage of Total Market Capitalization


[https://preview.ibb.co/eiqDmQ/chart_1.png[/img]

Down from 85 % to 59.7 % in just three months.

What does this mean?

Chart from: http://coinmarketcap.com/charts/#btc-percentage

Go on, Tell us. What does it mean?

speed ahead...

[satoshi tells us what it means]


speed ahead some more...


OMG!!!!!!!!!!

Panic. Bitcoin is losing market share ... OMG... OMG.. bitcoin must be dying or at least diluted and at minimum diminished...

OMG!!!!

Now getting the hang of poloniex... put a tiny bit of my ETH money into XRP (Ripple) and into LTC.

Also got the GDAX account up and running, and have a bank transfer on the way.

I assume I should be able to transfer between GDAX and Poloniex easily using addresses, like I did from Coinbase earlier.

Yes that's right, Bitcoin is losing market share and the drop has been significant this last couple of months, especially from February 5th and in particular this last week's when the drop has been super rapid. I'm not really surprised about the drop, I've been for predicting this for long. I'm a bit surprised that the drop is so rapid, however this is not the first time things move fast in the crypto currency space.

Of course it would be interesting to speculate how many procent market share our dear old beloved Bitcoin will have in say, three months or one year from now. The trend right now does not look good, and perhaps we need to wait until this freefall is over, before we can make any reasonable predictions. How long will it take from today's 59.7 % to say less than 50 %? One year, three months or perhaps just a few weeks / days? Of course this depends on how other crypro currencies does, and in particular if compared to Bitcoin. The fact that there is now an ethereum thread on Roosh v forum, that actually seems to get more traffic than the Bitcoin thread, is a sign that the drop to less than 50 % market shares for Bitcoin might come rather soon. Or what do you all think? I'll let the chart in my post two post above this one speak for itself.

(05-04-2017 05:06 AM)Satoshi Wrote:  Yes that's right, Bitcoin is losing market share and the drop has been significant this last couple of months, especially from February 5th and in particular this last week's when the drop has been super rapid. I'm not really surprised about the drop, I've been for predicting this for long. I'm a bit surprised that the drop is so rapid, however this is not the first time things move fast in the crypto currency space.

Of course it would be interesting to speculate how many procent market share our dear old beloved Bitcoin will have in say, three months or one year from now. The trend right now does not look good, and perhaps we need to wait until this freefall is over, before we can make any reasonable predictions. How long will it take from today's 59.7 % to say less than 50 %? One year, three months or perhaps just a few weeks / days? Of course this depends on how other crypro currencies does, and in particular if compared to Bitcoin. The fact that there is now an ethereum thread on Roosh v forum, that actually seems to get more traffic than the Bitcoin thread, is a sign that the drop to less than 50 % market shares for Bitcoin might come rather soon. Or what do you all think? I'll let the chart in my post two post above this one speak for itself.

I think it will take a while for Bitcoin's market share to go under 50% because Bitcoin is still the "brand name" of the crypto currencies, at least for the gen pop.

But I could be wrong. I'm surprised how fast prices are going up, in particular ETH, LTC, XMR, etc... if their prices continue to escalate like this, then they're going to gain lots of market share at the expense of BTC.

Yes you might be right, but remember that it only took three months to go from 85 % to 60 %. And from 70 to 60 % only one month. Perhaps the trend is turning or will be turning soon, and Bitcoin regain it's previously dominating market share. Or perhaps Bitcoin's days as the one and only crypto to be taken seriously is over, something I've predicted for quite some time. Let's wait and see, enjoy the rise.

Opened a GDAX and Poloniex account last night. Poloniex doesn't claim to require ID for up to $7K daily withdrawals, then again I haven't sent them any money yet so we'll see.

Now on to learning HW and SW wallets.

(03-02-2017 06:18 PM)SunW Wrote:  Never gettin old

(01-04-2017 10:48 AM)SunW Wrote:  JJG - know you didn't say $5K, no worries. We're doing good.

GK - I own 5K ETH, 3K under $4.

(01-02-2017 10:31 AM)SunW Wrote:  

(08-03-2016 08:36 AM)SunW Wrote:  Bought 20 @ 521. Ridin the wave

(01-02-2017 08:13 AM)SunW Wrote:  Price was $517 then and now it has 461,416 views. Dayum.


Gots me a problem. I have too many bitcoins from purchases last year and this year.

I want to see if I can predict btc's price close again and make it 3 out of 3 years right. For 2017, btc will end above $1825. This thread will have over 1 million views.

(08-04-2016 09:14 AM)SunW Wrote:  

(08-03-2016 08:36 AM)SunW Wrote:  Bought 20 @ 521. Ridin the wave

Got 1000 ether at $8. My guess is year end, bitcoin will be 900+ and ether 25+.

Got some "hardware" to back my software from a few of my bitcoins I bought in '15.

JJG, we're fuckin rich.