Post: #876

(06-13-2017 05:31 PM)Darkwing Buck Wrote:  

(06-13-2017 05:23 PM)Gas Wrote:  What do you think brothers? To me it looks primed for a correction - already did a double top and tested $410 twice, now creeping back up but at lower volumes. If this was a stock I'd be cashing in without a second thought. With crypto, I have no clue.

My aim was just to make a quick few grand which I'll do handsomely if I cash in now. However I'm going to be greedy and hold on I think. All in.

Huh? A correction? We hit in all time high of 400 on Sunday/Monday then dipped fast as low as 349 yesterday before slowly hovering around 370 and now since then has gone back up to 390 again.

Did you not watch the prices yesterday as the price immediately went down 13% after hitting 400.

Or am I not understanding your logic here?

Yeah it looks to me $375 is the new norm and for the past day, hardly seen any big swings in either direction. I'd expect us to clear $400 and ETH to be hurdling towards $500 soon. Expect some volatility in the next few days and then buy during that 20-30% dip. The only thing keeping the "wall of money" from pushing us over $400 right now are the margin traders. That baby is aching to crack $400 again and zoom up some more. Just look at the market cap of ETH over the past week... we're over 80% of BTC now. Will overtake soon. That's my amateur logic anyway.

Post: #877

I think we have a while to go until the bubble pops. This ICO bullshit needs to go though. Here's a good strategy on when to cash out:
https://www.youtube.com/watch?v=w7Rws5oaGcg

I think we have at least until 1 trillion marketcap IMO, but these ICO's need to stop because that will cause a major disruption.

Vitalik Buterin's response to that piece by WhalePanda: https://twitter.com/VitalikButerin/statu...6734504962

By the way, if you've been around for a while you'd realize that WhalePanda isn't the best person to listen to. His criticism on ICO's is valid though.

Post: #878

Here's a link to my mini data sheet on tax implications for trading crypto in the U.S.

Post: #879

Anyone else start to notice a difference in preference for BTC over ETH within developer social circles?

I'm a dev where I've found a lot of causal conversations with those I work with and come across at work (VR/AR related development if that matters) who are crypto enthusiasts to have expressed a strong preference for Bitcoin (and some ETC) as opposed to ETH where a few they describe themselves as "Bitcoin Purests".

I don't know if it just happens to be by chance or if there might be more substance behind it, but I figure it's something to at least consider when investing if its a pattern others have noticed.

My personal Crypto portfolio is roughly 60% ETH and 30% BTC.

On another note, any other miners out there? I personally mine ETH and plan to as long as it is profitable and will consider (likely) the switch to ETC during the transition to Proof of stake for ETH.

My current Mining set up runs at about 170Mh/s (sometimes 150Mh/s Rig 2 fluctuates often for reasons I haven't figured out) both open air.

New Rig:
5 x MSI RX 580 8GB
8GB of Ram
Intel i5 3.8ghz quad core
240 GB SSD HD

Old Rig:
2 x XFX R9 290 4 GB (I think 4GB I'd have to take another look)
8GB of Ram
Intel i5 3.4ghz quad core
240 GB SSD HD

Post: #880

(06-13-2017 08:32 PM)edmunddantes Wrote:  Anyone else start to notice a difference in preference for BTC over ETH within developer social circles?

I'm a dev where I've found a lot of causal conversations with those I work with and come across at work (VR/AR related development if that matters) who are crypto enthusiasts to have expressed a strong preference for Bitcoin (and some ETC) as opposed to ETH where a few they describe themselves as "Bitcoin Purests".

I don't know if it just happens to be by chance or if there might be more substance behind it, but I figure it's something to at least consider when investing if its a pattern others have noticed.

My personal Crypto portfolio is roughly 60% ETH and 30% BTC.

On another note, any other miners out there? I personally mine ETH and plan to as long as it is profitable and will consider (likely) the switch to ETC during the transition to Proof of stake for ETH.

My current Mining set up runs at about 170Mh/s (sometimes 150Mh/s Rig 2 fluctuates often for reasons I haven't figured out) both open air.

New Rig:
5 x MSI RX 580 8GB
8GB of Ram
Intel i5 3.8ghz quad core
240 GB SSD HD

Old Rig:
2 x XFX R9 290 4 GB (I think 4GB I'd have to take another look)
8GB of Ram
Intel i5 3.4ghz quad core
240 GB SSD HD

I know that ETH has been proposing for a long time that they are expecting to switch to proof of stake, yet the date has continued to be put off. You are expecting that ETH will actually switch and ETC will continue with proof of work? What kinds of odds do you give to your predictions and what kinds of timelines?

Post: #881

Fake news. The PoS date has never been put off, it's a loose window between end of this year and Q1 2018.

Mining is extremely profitabile right now, the issue is finding the correct gear to stay competitive.

Post: #882

What do you guys think of LTC right now? The guy who created it just left his position at Coinbase to focus on LTC full time. Some other news has to do with a "lightning network", being added to another exchange platform (bitstamp) as well as more general adoption amongst merchants due to the low fees and easy conversion between btc.

I got quite a bit at at around $26 and plan to hold most of it until around August and probably buy back in quickly if the news is good.

Post: #883

(06-13-2017 11:52 PM)Kickb Wrote:  What do you guys think of LTC right now? The guy who created it just left his position at Coinbase to focus on LTC full time. Some other news has to do with a "lightning network", being added to another exchange platform (bitstamp) as well as more general adoption amongst merchants due to the low fees and easy conversion between btc.

I got quite a bit at at around $26 and plan to hold most of it until around August and probably buy back in quickly if the news is good.

Holding mine for the time being as well.

Post: #884

(06-13-2017 10:13 PM)JayJuanGee Wrote:  I know that ETH has been proposing for a long time that they are expecting to switch to proof of stake, yet the date has continued to be put off. You are expecting that ETH will actually switch and ETC will continue with proof of work? What kinds of odds do you give to your predictions and what kinds of timelines?

The switch to Proof of stake like others have mentioned is a sure thing.

I could be mistaken, but from my understanding Nov 1st is the first day of the transition.

I believe that the switch will scare a lot of people away from it as those who hold a high volume of ETH will have great influence over ETH. With that in mind, I'm expecting many to dump it for ETC.

As far as the people I work with (sample size of approx. 10 people I interact with daily who are crypto enthusiasts), they all will be dumping ETH for ETC and/or switch to Bitcoin. Take that with a grain of salt, though they're smart people and dev's, they let a lot of their tech biases influence their opinions on crypto's. When I say Crypto enthusiasts, this includes dev's who have mining rigs at home and those who don't read up on cryptos much at all, but love the idea/blockchain tech so they invested small sums and have skin in the game.

Timeline wise, I haven't come up with a firm plan, however I do plan to mine ETH up until the switch (as long as it is more profitable if not mine ETC). A portfolio adjustment to 50% BTC 30% ETC and 20% ETH is what first comes to mind considering the switch, but we're quite a ways away from having enough market information to make big changes. Odds wise I'm really not sure.

Post: #885

In this video this guy explains the PoS process. Apparently the minimum you need to lock up for staking is 1,000 ETH coins.

https://youtu.be/G-ijnQubg3w

Not confirmed though.

Post: #886

(06-14-2017 02:06 AM)Kdog Wrote:  In this video this guy explains the PoS process. Apparently the minimum you need to lock up for staking is 1,000 ETH coins.

https://youtu.be/G-ijnQubg3w

Not confirmed though.

Adding to his question, if one doesn't have 1k ETH, could he still benefit by joining a staking pool with others? Is that even possible?

Post: #887

Ethereum network hashrate climbed to 60 GH/s in the last 12 hours. That is +40% overnight.

Post: #888

(06-14-2017 02:45 AM)CleanSlate Wrote:  

(06-14-2017 02:06 AM)Kdog Wrote:  In this video this guy explains the PoS process. Apparently the minimum you need to lock up for staking is 1,000 ETH coins.

https://youtu.be/G-ijnQubg3w

Not confirmed though.

Adding to his question, if one doesn't have 1k ETH, could he still benefit by joining a staking pool with others? Is that even possible?

I hope that's not true, that's a lot of money for the average person to have invested and it would just ensure the whales run the market. That would cause a lot of people to cash out probably.

I've been messing with POS staking on the Stratis network, and you can stake with lower denominations. I've got like under 100 staked, and my reward time fluctuates between 400-600 days it seems like. Not great either, but i'm curious to see what the reward would be and how long it will actually take. I've got a feeling ETH will probably institute a similar method, available for people to stake at any level, but not too profitable.

Post: #889

Super volatile right now guys... there's been a couple of dips under $350 (including right now) if you don't have stop / limit orders in. If you want to buy it's about that time... Don't know how much further down it will drop if any but I suspect it climbs back up towards $400 soon.

BTC dipped under $2600 again.

Post: #890

(06-14-2017 09:32 AM)Gmac Wrote:  Super volatile right now guys... there's been a couple of dips under $350 (including right now) if you don't have stop / limit orders in. If you want to buy it's about that time... Don't know how much further down it will drop if any but I suspect it climbs back up towards $400 soon.

BTC dipped under $2600 again.

Are you guys using stop losses/limit orders to protect yourselves from crashes? How are you choosing those limits? Are you going by % of ATH? or a % above your investment. I'm looking to "set it and for get it" and quit checking prices multiple times a day, but would like some protection if the market makes a huge dip or completely crashes. Then of coarse I'd reinvest back in at the bottom or as close to it as I can.

Post: #891

Thought more about this and realized you'd have to leave your ETH on the exchange in order to have your stop losses or limit orders to sell in place. Which would leave them vulnerable. Hmmmmm decisions decisions................

Post: #892

(06-13-2017 11:52 PM)Kickb Wrote:  What do you guys think of LTC right now? The guy who created it just left his position at Coinbase to focus on LTC full time. Some other news has to do with a "lightning network", being added to another exchange platform (bitstamp) as well as more general adoption amongst merchants due to the low fees and easy conversion between btc.

I got quite a bit at at around $26 and plan to hold most of it until around August and probably buy back in quickly if the news is good.

I'm on the LTC boat. Mainly flip them back and forth because it's always without fail between 25-32. With the current news however i've acquired a decent amount to hold on too.

Kinda skeptical though, all you ever hear is "to the moon" comments. Apparently the moon is 34$

Post: #893

(06-14-2017 10:14 AM)white22 Wrote:  

(06-14-2017 09:32 AM)Gmac Wrote:  Super volatile right now guys... there's been a couple of dips under $350 (including right now) if you don't have stop / limit orders in. If you want to buy it's about that time... Don't know how much further down it will drop if any but I suspect it climbs back up towards $400 soon.

BTC dipped under $2600 again.

Are you guys using stop losses/limit orders to protect yourselves from crashes? How are you choosing those limits? Are you going by % of ATH? or a % above your investment. I'm looking to "set it and for get it" and quit checking prices multiple times a day, but would like some protection if the market makes a huge dip or completely crashes. Then of coarse I'd reinvest back in at the bottom or as close to it as I can.

I'll leave it to the more experienced traders to offer their input, but I don't think you can really "set it and forget it" unless you plan to get out of the market completely or take periodic breaks. Or unless you are extremely experienced and can set enough buffers to keep yourself from getting burned. My take is if you want to hold long-term you either need to pay attention throughout the day and buy low, sell high, or completely forget about it for a year.

Post: #894

(06-14-2017 10:24 AM)white22 Wrote:  Thought more about this and realized you'd have to leave your ETH on the exchange in order to have your stop losses or limit orders to sell in place. Which would leave them vulnerable. Hmmmmm decisions decisions................

What I'd do is store the bulk of your eth (or any coin) in a cold wallet, and leave a little bit for trading with stop losses, limit orders, etc. Maybe keep a 80/20 ratio of offline storage to active trading, or something like that.

Post: #895

I'm in it for the long term 1 year minimum, more like 5-10 even 20+ years (i'm on board that ETH is the future, the next internet/google/amazon). Even if I'm in this for 20+ years I don't see a reason to ride a crash/bubble pop to the bottom when I could get out on the way down and then get back in (there lies the problem, predicting the bottom) Or am I just setting myself up to unknowingly sell at the bottom and end up buying back in a higher amount? Currently I'm up 75% @$370. I am thinking along the lines of setting a limit to sell @$250. If the market takes a 30% hit I get out with 20% gains and wait to buy back in. I know JJG sets orders to buy as the price drops and orders to sell as the price grows. This is a little too time consuming for me and I'm just trying to protect my initial investment from a major drop. Then I'm not setting in the red with my initial investment worth pennies waiting for a year or more until it recovers. ETH was $20 as recently as March while I don't think it is probable by any means the bottom of a drop could be well below my buy in.

Post: #896

(06-14-2017 10:28 AM)Oz. Wrote:  

(06-13-2017 11:52 PM)Kickb Wrote:  What do you guys think of LTC right now? The guy who created it just left his position at Coinbase to focus on LTC full time. Some other news has to do with a "lightning network", being added to another exchange platform (bitstamp) as well as more general adoption amongst merchants due to the low fees and easy conversion between btc.

I got quite a bit at at around $26 and plan to hold most of it until around August and probably buy back in quickly if the news is good.

I'm on the LTC boat. Mainly flip them back and forth because it's always without fail between 25-32. With the current news however i've acquired a decent amount to hold on too.

Kinda skeptical though, all you ever hear is "to the moon" comments. Apparently the moon is 34$

I am also bullish on Litecoin long-term as a hold. The technology behind it is solid, it is faster than Bitcoin with lower fees and has a solid roadmap. Lee leaving to focus on it will likely lead to more adopters.

Plus, it is always good to diversify.

Post: #897

(06-14-2017 11:14 AM)white22 Wrote:  I'm in it for the long term 1 year minimum, more like 5-10 even 20+ years (i'm on board that ETH is the future, the next internet/google/amazon). Even if I'm in this for 20+ years I don't see a reason to ride a crash/bubble pop to the bottom when I could get out on the way down and then get back in (there lies the problem, predicting the bottom) Or am I just setting myself up to unknowingly sell at the bottom and end up buying back in a higher amount? Currently I'm up 75% @$370. I am thinking along the lines of setting a limit to sell @$250. If the market takes a 30% hit I get out with 20% gains and wait to buy back in. I know JJG sets orders to buy as the price drops and orders to sell as the price grows. This is a little too time consuming for me and I'm just trying to protect my initial investment from a major drop. Then I'm not setting in the red with my initial investment worth pennies waiting for a year or more until it recovers. ETH was $20 as recently as March while I don't think it is probable by any means the bottom of a drop could be well below my buy in.

The problem here is this won't stop you from losing out on a large crash that quickly recovers. The price could drop to $250 and your order would trigger (assume you used a stop limit order, not a regular limit order -- if you don't know the difference read up). So you could cash out at $250/ea and the price could go back up to $400 and you're lost holding the bag of unearned profits. Likewise... BTC crashed a few years ago and took years to recover. So long-term holding isn't necessarily a bad thing either as long as ETH doesn't have something catastrophic happen to it. Even then, doesn't mean it won't recover.

Having buy orders set also means you have to leave a certain amount of $USD sitting out there on an exchange.

Post: #898

It seems like ETH is the best long term prospect so I'm not setting any stop's. Even if it goes down for a while it will likely recover over the long term

But if there is a flash crash and it quickly recovers then you could be left well out of pocket as the poster above said. Considering how volatile it is, this is a bigger risk IMO

Post: #899

Bought another 2 ETH yesterday at 368 and today at 355.

LOL at the people getting scared and selling. This shit's chess it ain't checkers. I think we'll hit $500 by year's end and $1000 by this time next year.

Post: #900

(06-13-2017 05:31 PM)Darkwing Buck Wrote:  

(06-13-2017 05:23 PM)Gas Wrote:  What do you think brothers? To me it looks primed for a correction - already did a double top and tested $410 twice, now creeping back up but at lower volumes. If this was a stock I'd be cashing in without a second thought. With crypto, I have no clue.

My aim was just to make a quick few grand which I'll do handsomely if I cash in now. However I'm going to be greedy and hold on I think. All in.

Huh? A correction? We hit in all time high of 400 on Sunday/Monday then dipped fast as low as 349 yesterday before slowly hovering around 370 and now since then has gone back up to 390 again.

Did you not watch the prices yesterday as the price immediately went down 13% after hitting 400.

Or am I not understanding your logic here?

It already tested resistance at 410 twice - when a chart double tops like that it often means a fall is coming back to the previous support level - maybe at 350 or even 270 if we're lucky.