Post: #301

(05-25-2017 03:21 AM)GlobalMan Wrote:  Armogan, you mentioned Storj. What do you think of Sia?

Also, note to anyone wanting in on the Storj crowd sale, I've been watching the ticker move and the crowd sale cap will likely be reached in the next 12 hours or so, probably less.

Probably solid. Good development team. I just see way bigger upside for Storj. They're esssentially the same thing.

But Sia already has 241m market cap, Storj has 34m. Which has a better chance of going 10x?

The main thing I did this is because Storj is 1/.50 cents at the crowdsale. It's trading at 1/.67 cents on exchanges before they burn the current coins and migrate to an erc token. That's 34% right there.

Or just hedge, buy both, probably win.

Massive cup and handle, we're blowing through $215 with ease over next 24 hours.

Post: #302

(05-25-2017 03:43 AM)Skank_Hunt Wrote:  

(05-25-2017 03:22 AM)JayJuanGee Wrote:  

(05-25-2017 03:16 AM)Skank_Hunt Wrote:  But it seems all these alts are getting pumped to ridiculous levels and there is no stopping them. Dogecoin just won't go down. There can't not be a dump, can there?

Remember the expression that markets can stay irrational longer than you can stay solvent...

I think that everyone (99%ish) find this level of the pump to be quite beyond what we had expected, so 3 more months seems tops, but sure, even 6 more months of pump could be possible.. . NOT exponential.. I mean having a few consolidation periods in there...

But if it carries on for 3, 6 more months the subsequent DUMP would have to knock off anywhere from 95-99% of the value of most of these things. 95% at least the way these things are going up. Has this ever really happened?

I don't try to hurt my head with that much specifics, but we know already that we are going to have examples in history that rhyme.. They are not going to match exactly, so they are likely to play out a bit differently.

Take the 2013 bubble for example... Bitcoin rose first.. twice in the year and gained like 100x appreciation for the year. Many alts began to pump towards the end of BTC's pump, and they appreciated much more greatly than bitcoin (at least in the final stages).. many of those alts dumped way harder than bitcoin too.

So, yeah, we cannot know how this pump and dump is going to play out exactly and which ones will be winners and sure some guys are projecting (with considerable confidence) that ETH is going to come out on top in this particular upcoming pump and dump scenario.

Even though frequently it might sound as if I care about which one comes out on top, I don't. I made my choices, and i will adapt, if I feel that I need to. So at some point, I might identify a coin that I would like to buy into or one that I would like to sell, and surely it is better to sell before the coin gets dumped and it is better to buy before the coin gets pumped.. but if we are not sure about the actual status, then we might engage in various forms of incrementalism to hedge our bets in various directions.

Also, 90% bleeds are not unrealistic - some could dump in a matter of a few weeks and others could slowly bleed over 12 months or longer.. with pumps in the middle. Surely, it already is interesting and it is going to continue to be interesting because sometimes during this whole process there will be spinning and misinformation going on too, and each of us has to attempt to figure it out and to sift through the bullshit (or at least what we consider to be bullshit)... and even bullshit can cause some pumpings of some coins, and we could still get involved and profit from those kinds of coins, if we can identify decent entry and exit points (and if we feel that we have time, patience and resources to involve ourselves in such for the lols and/or for the possible profits).

Post: #303

(05-25-2017 03:42 AM)Gas Wrote:  

(05-25-2017 03:24 AM)Sooth Wrote:  I did my first trade to get a handle on the exchange workings today.

Made $0.10 USD (by accident).

Now to figure out what to actually do...

Are you based in New Zealand, did you use localbitcoins and then move it to GDAX or where?

Yeah, I bought BTC on localbitcoins and then moved it to a hardware wallet for a few months and forgot about it.
Then used some BTC to buy ETH in early March with one of those instant converter things that charge a larger fee for people who don't know what they're doing.

Now I've just moved a small amount of BTC to the poloniex exchange (apparently it's one of the easiest for beginners to learn the ropes on) while I learn more about trading. I don't have time to be a "day trader" but can act on alerts relatively quickly.

(05-25-2017 03:56 AM)JayJuanGee Wrote:  

(05-25-2017 03:24 AM)Sooth Wrote:  I did my first trade to get a handle on the exchange workings today.

Made $0.10 USD (by accident).

Now to figure out what to actually do...

Generally speaking, buy on the way down and sell on the way up.

If you are using really small amounts then you can kind of practice.

I would practice with higher amounts.. maybe start with stacks of $5 or $10.. and play with that for a while and then start to increase your amounts as you get used to it.

So for example, you can look at the current price and then buy $5 worth every 1% drop and sell $2 worth every 1% rise...

hahahahaa.. o.k. what I am saying sounds dumb, but you gotta figure out your goals. Are you trying to accumulate or to sell whatever asset you are trading... and then structure your orders. Some orders can be systematic and other orders can be strategic or even a kind of gambling... and then kind of monitor how you are doing to tweak whatever system you find works for you.

Are we talking GDAX or some other exchange?

Yeah I still need to figure out a strategy that's going to work for the amount of time I can put into it.

I'm using the poloniex exchange - not for any reason in particular, apparently it's easier for beginners.

Post: #304

(05-25-2017 04:16 AM)Sooth Wrote:  

(05-25-2017 03:42 AM)Gas Wrote:  

(05-25-2017 03:24 AM)Sooth Wrote:  I did my first trade to get a handle on the exchange workings today.

Made $0.10 USD (by accident).

Now to figure out what to actually do...

Are you based in New Zealand, did you use localbitcoins and then move it to GDAX or where?

Yeah, I bought BTC on localbitcoins and then moved it to a hardware wallet for a few months and forgot about it.
Then used some BTC to buy ETH in early March with one of those instant converter things that charge a larger fee for people who don't know what they're doing.

Now I've just moved a small amount of BTC to the poloniex exchange (apparently it's one of the easiest for beginners to learn the ropes on) while I learn more about trading. I don't have time to be a "day trader" but can act on alerts relatively quickly.

(05-25-2017 03:56 AM)JayJuanGee Wrote:  

(05-25-2017 03:24 AM)Sooth Wrote:  I did my first trade to get a handle on the exchange workings today.

Made $0.10 USD (by accident).

Now to figure out what to actually do...

Generally speaking, buy on the way down and sell on the way up.

If you are using really small amounts then you can kind of practice.

I would practice with higher amounts.. maybe start with stacks of $5 or $10.. and play with that for a while and then start to increase your amounts as you get used to it.

So for example, you can look at the current price and then buy $5 worth every 1% drop and sell $2 worth every 1% rise...

hahahahaa.. o.k. what I am saying sounds dumb, but you gotta figure out your goals. Are you trying to accumulate or to sell whatever asset you are trading... and then structure your orders. Some orders can be systematic and other orders can be strategic or even a kind of gambling... and then kind of monitor how you are doing to tweak whatever system you find works for you.

Are we talking GDAX or some other exchange?

Yeah I still need to figure out a strategy that's going to work for the amount of time I can put into it.

I'm using the poloniex exchange - not for any reason in particular, apparently it's easier for beginners.

There are ways to trade that are involved and not very involved, and you can still learn by setting some orders and then just seeing it play out.

For example, since this is the ETH thread, I will use ETH as an example.

Let's say you have 10 ETC on the exchange and you have $1000 dollars on the exchange.

You see that the current price of ETH is $200, so you could set your price to sell .1ETH every time the price goes up $10. So maybe set orders at $209.76 and $219.76 etc etc.

You then decide you want to buy too, so you set orders to buy .1ETH every $10 starting at $191.16 and then $181.16 etc... Of course you can spred them out, change the amounts and maybe even change the buy and sell spread.

As soon as an order to sell fills, then you reset your order to buy by $10 above your old next order.

By the way, make sure that you account for the fees in your spread. So if they charge a .2% fee, then your spread has to be at least .4% just to break even. Of course you don't want to be engaging in trading just to break even, so maybe you set your spread to have at least a 2% profit, so that would mean that you would need to set it for 2.4% in order to cover the fees and to still have a net 2% profits.

Post: #305

Cheers mate, yeah now I'm seeing how much automation you can utilize it's no bloody wonder these coins are so volatile haha!

Post: #306

Coinbase has tested my patience long enough, tried using my CC but still unable to verify.

Have signed up with Independent Reserve to deal in Australia. At least they allow withdrawals as well as deposits.

Post: #307

(05-25-2017 04:44 AM)Tengen Wrote:  Coinbase has tested my patience long enough, tried using my CC but still unable to verify.

Have signed up with Independent Reserve to deal in Australia. At least they allow withdrawals as well as deposits.

It was my frustration with Coinbase that finally pushed me onto an exchange.

Post: #308

(05-25-2017 03:24 AM)Sooth Wrote:  I did my first trade to get a handle on the exchange workings today.

Made $0.10 USD (by accident).

Now to figure out what to actually do...

Made $10 on my second trade.

Damn, this is going to get addicting

Post: #309

(05-25-2017 04:39 AM)Sooth Wrote:  Cheers mate, yeah now I'm seeing how much automation you can utilize it's no bloody wonder these coins are so volatile haha!

The method of trading that I suggest does not cause volatility, but would likely allow you to take advantage of likely volatility for your own benefits.

Of course, I also suggest customizing to your own considerations and time pressures too...

By the way, just as an example, in bitcoin I had been trading about$20 increments, and recently i changed to $50 increments, but my orders are still filling too fast, so sometimes you gotta figure out a spread that is going to work for you and maybe your orders are not filling so often that it is causing you not to be able to do other things, especially during volatile periods.

Post: #310

(05-25-2017 04:44 AM)Tengen Wrote:  Coinbase has tested my patience long enough, tried using my CC but still unable to verify.

Have signed up with Independent Reserve to deal in Australia. At least they allow withdrawals as well as deposits.

I have also signed up to them and just emptied my Australian bank account into them.

Now if I buy bitcoin there is it possible for me to move it over to polionex? Just the idea of it sounds like an ass of a job but I'm guessing it's actually quite simple?

Post: #311

What exchange and wallet should I use to start investing in ethereum?

Post: #312

(05-25-2017 05:24 AM)Travel Museums Wrote:  What exchange and wallet should I use to start investing in ethereum?

Depends where you're located. If you're in the US most people seem to be using GDAX or Coinbase (although look back at the older posts because I really have no idea).

Post: #313

US base. Seems poloniex is good too. So what's the best of those three? Poloniex Coinbase and gdax?

Also:
Looked into just doing GBTC through my brokerage. Easiest way to ride the mania and short it after a few days. Anyone have the balls?

Post: #314

Bitfinex offers better prices than gdax by a long shot, also has many more coins to trade. Any reason not to use?

Not going to lie this gets kinda addicting after a while.

Post: #315

(05-25-2017 05:05 AM)JayJuanGee Wrote:  

(05-25-2017 04:39 AM)Sooth Wrote:  Cheers mate, yeah now I'm seeing how much automation you can utilize it's no bloody wonder these coins are so volatile haha!

The method of trading that I suggest does not cause volatility, but would likely allow you to take advantage of likely volatility for your own benefits.

Of course, I also suggest customizing to your own considerations and time pressures too...

By the way, just as an example, in bitcoin I had been trading about$20 increments, and recently i changed to $50 increments, but my orders are still filling too fast, so sometimes you gotta figure out a spread that is going to work for you and maybe your orders are not filling so often that it is causing you not to be able to do other things, especially during volatile periods.

Interesting method... putting in staggered orders at fractional increments above and below the current price.

Going to try it myself. Helps to collect a little profits when it goes up, and collect more coins when it goes down.

Post: #316

Just bought a grand of ETH on Coinbase. The 1.5% fee amounts to $15. Seems crazy compared to what I'm used to paying on brokerage trades. And somehow I'm still pissed the trade will take a week to execute AND is limited to $2,500.

I never bothered following cryptocoins. But it's hard to ignore the potential. Fidelity is gung-ho with inhouse investment/mining and a probable ETF coming. Coinbase got NYS regulatory approval. The winkle twins are appealing. I don't see how regulators can hold out much longer once the big investment houses are onboard. They're really the ones writing the laws.

At this point I don't think the trade value of BTC/ETH can be denied. Whether or not it has inherent investment value I can't say. I haven't heavily researched it. Nor will I ever understand the computer science behind it. I'm uncomfortable holding it long term. But at these gains you don't have to, I guess. Once pensioners/general public take the plunge on a limited commodity like this it's going up.

How quickly are you guys executing your trades? The rapid volatility seems way out of sync with the speed of sale. It says I'd get my coins next month! Am I buying directly from an individual miner? I know Coinbase is a tech platform, not a "warehouse". But not sure what the exact process of buying/selling is?

If I can double my money I will sell. How fast are sales going through? And it's another 1.5% converting the sale back to USD? Is that correct?

Had no idea bitcoin was so expensive to buy. Makes me want crypto ETFs all the more. But before that happens I'd like to get in position. And make sure I understand exactly the process of dumping it when I'm ready to cash out.

Edit: just bought $450 in Litecoin. That's my weekly max. Not gonna pay 4% to buy more on a card.

Are any of you guys mining coins? How big an investment is that? Can you buy a commercial computer powerful enough to do that? I assume it's way beyond the capacity of even the most suped up gaming PC??

Are these exchanges reporting to the IRS? Are you getting your tax docs?

Post: #317

Anyone else also having issues getting bank verification completed at Coinbase or Tier 2/3 validation at Kraken?

I feel like they are going super slow, mostly likely due to all the capital flowing in. I am not super worried as I am holding out for a 10%+ dip to jump in. I am more anxious about getting my fiat currency in there, so that I am locked and loaded to make the BTC/ETH trades.

Post: #318

(05-25-2017 01:05 PM)BostonBMW Wrote:  Anyone else also having issues getting bank verification completed at Coinbase or Tier 2/3 validation at Kraken?

I feel like they are going super slow, mostly likely due to all the capital flowing in. I am not super worried as I am holding out for a 10%+ dip to jump in. I am more anxious about getting my fiat currency in there, so that I am locked and loaded to make the BTC/ETH trades.

Yes, I am having issues.

Coinbase says it can't verify my ID w/ photo. My appearance has changed a lot since my ID was taken half a decade ago. My Coinbase using days are pretty much over unless their support can give an alternative method for verification. This also means GDAX is off the list since they are owned by Coinbase and the verification process is the same.

Kraken says it could take 48 hours, however it could be week(s).

Gemini could also take week(s).

What bothers me is that even if verification is completed, you still have to transfer fiat to the exchanges which could take another 3 to 5 business days.
This alone makes me believe crypto is the future. I can't move my own fiat around without it taking weeks.

Post: #319

(05-25-2017 03:43 PM)Moreless Wrote:  

(05-25-2017 01:05 PM)BostonBMW Wrote:  Anyone else also having issues getting bank verification completed at Coinbase or Tier 2/3 validation at Kraken?

I feel like they are going super slow, mostly likely due to all the capital flowing in. I am not super worried as I am holding out for a 10%+ dip to jump in. I am more anxious about getting my fiat currency in there, so that I am locked and loaded to make the BTC/ETH trades.

Yes, I am having issues.

Coinbase says it can't verify my ID w/ photo. My appearance has changed a lot since my ID was taken half a decade ago. My Coinbase using days are pretty much over unless their support can give an alternative method for verification. This also means GDAX is off the list since they are owned by Coinbase and the verification process is the same.

Kraken says it could take 48 hours, however it could be week(s).

Gemini could also take week(s).

What bothers me is that even if verification is completed, you still have to transfer fiat to the exchanges which could take another 3 to 5 business days.
This alone makes me believe crypto is the future. I can't move my own fiat around without it taking weeks.

Go on localbitcoins and find someone in your area who'll sell it to you. In person meet up is probably the fastest way to do it, just make sure to do it in a very public place for security.

Post: #320

(05-25-2017 03:43 PM)Moreless Wrote:  Yes, I am having issues.

Coinbase says it can't verify my ID w/ photo. My appearance has changed a lot since my ID was taken half a decade ago.

As far as I remember from signing up there, Coinbase is not one of the sites that has you take a photo of you holding your ID in order to see it is you, they just have you take a photo of your ID. So your appearance changing would have nothing to do with it. GDAX was the same.

My ID was rejected the first few times, but I turned on more lights along with turning up the brightness on my screen so the webcam picked up more light and it was accepted. Make sure you have adequate brightness in the room.

Post: #321

Coinbase denied my id once as unreadable. They also now make you take a selfie.

Post: #322

I've got a question about USD vs Tether USD. I transferred dollars into my coinbase account from my bank, but coins seem to be cheaper on Poloniex than coinbase, like $15-20 different on ETH or hundreds different on BTC sometimes. Like right now BTC is about $2550 on coinbase and 2450 on polo, ETH is 195 on coinbase, 180 on polo. Could I then transfer my dollars to an exchange like Poloniex and buy BTC/ETH there a bit cheaper? Or is there a different ratio between USD and the USD Tether at Polo, like .95 to $1 or something? I just don't want to transfer it and risk losing it if it's some sort of different currency measure, or something weird. [/stupid question?]

Other than the transfer fee, isn't that a good way to buy in at a better price? Anyone done this before?

Post: #323

Polo is cheaper because all coins are pegged to USDT, which is trading a slight discount because of liquidity concerns.

Post: #324

(05-25-2017 04:52 PM)DamienCasanova Wrote:  I've got a question about USD vs Tether USD. I transferred dollars into my coinbase account from my bank, but coins seem to be cheaper on Poloniex than coinbase, like $15-20 different on ETH or hundreds different on BTC sometimes. Like right now BTC is about $2550 on coinbase and 2450 on polo, ETH is 195 on coinbase, 180 on polo. Could I then transfer my dollars to an exchange like Poloniex and buy BTC/ETH there a bit cheaper? Or is there a different ratio between USD and the USD Tether at Polo, like .95 to $1 or something? I just don't want to transfer it and risk losing it if it's some sort of different currency measure, or something weird. [/stupid question?]

Other than the transfer fee, isn't that a good way to buy in at a better price? Anyone done this before?

No you cannot do like that. Tether USD is not the same as USD. You get change tether usd in and out on https://tether.to/ if you're verified. But right now people lose confidence in tether hence it's traded cheaper than USD. The good thing with tether is that you can transfer the USDT between two exchanges that uses it, like poloniex and bitfinex. Much easier than to withdraw to regular bank account then into the new exchange.

Post: #325

(05-25-2017 09:09 AM)Travel Museums Wrote:  Just bought a grand of ETH on Coinbase. The 1.5% fee amounts to $15. Seems crazy compared to what I'm used to paying on brokerage trades. And somehow I'm still pissed the trade will take a week to execute AND is limited to $2,500.

A week? Didn't know that. Sounds slow as hell. I hope the price gets locked in at least.