Post: #251

(05-24-2017 01:49 AM)Isaac Jordan Wrote:  ^ It's not a good idea to ever post the exact amount of crypto you own, for security purposes. Post % instead.

I really enjoy these kinds of discussions about quantity owned and percentages of allocation and even percentages of allocation of crypto as compared with other assets that you might own.. even though sometimes percentages can seem a bit abstract and difficult to figure out, it still can be a good exercise.

Probably, it is not safe either to discuss all of the locations that you hold your coins, even though we really want to be helpful with some specifics, but frequently, I have disclosed several locations where I hold coins.. and sometimes it is useful to distinguish advantages and disadvantages of some exchanges and even whether they are trustworthy in comparison to other places that you might hold your coins.

Sometimes it can be useful, also, to discuss hypotheticals. For example, if I had $10k to invest, I would do x, y and z.. maybe you are really investing $73k, but you still can use $10k as a hypothetical.. Also, you may have $500 a month that you can allocate towards crypto investing, but maybe you would say that you have $100, and describe how you would allocate that, or if you hypothetically have 10 BTC, you could discuss reallocating into crypto a, b and c in these amounts.... but ultimately we are still talking hypotheticals that actually could be proportioned to your actual holdings.

Post: #252

(05-23-2017 04:25 PM)JayJuanGee Wrote:  

(05-23-2017 04:17 PM)Satoshi Wrote:  Everyday guys are coing into this thread or the other saying they'll put some money into some crypo currencies. And everyday I wake up with more wealth then I ever had before. Keep it going guys, pump this shit to the moon. Spread the words, get in today or cry tomorrow!

Hopefully you are taking some profits along the way too?

I understand that HODL can be a decent strategy, too, but I personally think that taking some profits is a bit better and guys are going to come to different judgements regarding how much profits to take along the way upwards...

Personally, I feel that I have a pretty strong plan regarding my degree of HODL, SODL or BUYDL; however, when the price of any asset (including cryptos) goes up 5% or 10% in a few days (or more), and then it keeps doing that for several days and even weeks - it can become a bit paralyzing, even to consider if you should tweak your plan a bit.. invest more or to take some profits.

I am looking for a point to take around 10 % profit but as it seems like right now this rally is ongoing and as long as we're making new highs daily I think I will wait a bit more.

Post: #253

I have so many questions

Anyways do you guys keep your coins in the exchange or do you transfer them back into your coinbase account? Or do you put them in one of those hardware wallets? I understand the security behind a hardware wallet but haven't thought about buying one since I don't own a large amount of coins.

Post: #254

there are ups and downs with both.
If you do it right, offline storage will be more secure than to keep it on an exchange..
Downsides, cant have stop losses etc in case price crashes.

I dont have much money in crypto, so I just store it online at the exchange for now.
Used to store it offline thoug.

Feels good to be back in the game 100% ETH, just cause I dont care to follow the news close.
And with such a high btc price, I couldn't watch the pathetical low amount on my account..

Post: #255

(05-22-2017 09:57 AM)CleanSlate Wrote:  ^ What's the reasoning for DGB going to $1?

The logic behind DGB going to 1$ is that it's connected to pretty popular video games like Minecraft and a few others, and it's goal is to eventually be used as in-game currency. Kids will use DGB to buy items or exchange in video games. There are supposed to be a few announcements coming up from the developers in early June that should set off a huge pump. Either way you should stand to earn some coin.

Back on ETH, I just saw it go from $221 down to $214 in under 5 minutes. The fuck?

Post: #256

221 - 214 in 5 min can hardly be any big deal in this market,..

Post: #257

The chart looking insanely bullish. For over 18 hours now. Today we probably clear $200 for a bit. The koreans stopped buying kimchi and now going all-in eth.

Rumor is that REP and GNT are going to be added to coinbase. GNT $1 by June 30th.

Post: #258

(05-24-2017 10:15 AM)Armogan Wrote:  

(05-24-2017 01:45 AM)Hyperflux Wrote:  Can you guys post your portfolios so we can all see and discuss? Here's mine

[removed]

Obviously ETH, BTC, XMR and NEM are long-term. The rest of the stuff is medium-short term.

That's a big stack, way more than I got. You're rich!

Lol He removed it so he should not be targeted for hacking! I guess hackers still will find him an interesting prospect after that comment !

Post: #259

Can someone quickly explain in layman's terms how a 'wallet' works?

My current understanding is that it allows you take your bitcoin/ethereum off the exchange's website code and that you encrypt it on to either software on your PC or on hardware?

Is it just insurance against the website being hacked?

Post: #260

(05-24-2017 11:40 AM)britchard Wrote:  Can someone quickly explain in layman's terms how a 'wallet' works?

My current understanding is that it allows you take your bitcoin/ethereum off the exchange's website code and that you encrypt it on to either software on your PC or on hardware?

Is it just insurance against the website being hacked?

The word "wallet" was a terrible choice. We really should've used "keychain" instead.

Blockchains are really just big open digital ledgers where value is stored. The value never actually "leaves" the blockchain; purchasing/storing value in a crypto asset simply means you have access to a certain amount of funds on those ledgers.

Whenever you buy tokens and move them to a personal wallet, you're not actually storing any tokens there. Instead, you're storing the private keys to an account on the general ledger that is the Bitcoin blockchain, the Ethereum blockchain, etc. where those funds are located. As long as you have those keys, you can access the funds stored in the associated address on the blockchain.

When you leave your tokens on an exchange, what you've actually done is stored your private keys with that third party and trusted them not to fuck anything up. That's why I and many others here recommend purchasing a hardware wallet (I use the Ledger Nano S) to store your keys offline where only you have access to them.

Post: #261

https://azure.microsoft.com/en-us/solutions/blockchain/

Very interesting see:

Azure Blockchain solutions...

Ethereum Consortium Blockchain
Microsoft

STRATO Blockchain LTS
BlockApps

Chain Core Developer Edition
Chain

Ethereum Studio - Blockchain Environment
ether.camp

Emercoin Blockchain Engine
Emercoin

Post: #262

There's a lot of confusion on how the blockchain works what exactly is a wallet.

Coins never leave the blockchain, transactions are added constantly to it making it larger and larger.

Each coin is in a public address (wallet), think of this as a bank account number.

Each public address has a private key, think of this as a password to your bank account.

If I know your public address (bank account number) I can send you money, but without your private key (bank account password) I can't use your funds.

When you have something on the exchange, they control both your private and public key. Almost defeats the purpose of decentralization, you do not have absolute control of your money.

Post: #263

(05-24-2017 10:15 AM)Armogan Wrote:  The chart looking insanely bullish. For over 18 hours now. Today we probably clear $200 for a bit. The koreans stopped buying kimchi and now going all-in eth.

Rumor is that REP and GNT are going to be added to coinbase. GNT $1 by June 30th.

Wondering what people's thoughts are on Augur (REP), Golem (GNT), Gnosis (GNO) and Basic Attention Token (BAT). More specifically, do you guys think they'll take off as profitable ventures?

In terms of Augur and Gnosis - do you really need blockchain technology to have a betting market?

Golem I may be able to see taking off, but I asked some of my computer science friends and I'm not sure if there really is a big market for distributed computing. My argument would be that the enterprises that need that much computing power would be willing to pay for their own servers. But maybe I'm wrong?

Basic Attention Token - any advertising people out there who can comment on whether their agencies or corporations would prefer this over Google Ads? I see three involved groups: the advertiser, the content producer, and the consumer. BAT's unique selling point seems to be that the consumer gets a cut of the ad profit. But what incentive do content producers have to switch from Google Ads to BAT?

Another (under the radar imo) ICO I would like to get opinions on is REX (http://rexmls.com/). Their value proposition seems to be reducing real estate listing and development costs.

I don't have any first-hand experience with real estate, advertising, betting markets (management of), or distributed computing. Would love to hear opinions from people with experience in these fields.

Post: #264

(05-24-2017 02:43 PM)Armogan Wrote:  There's a lot of confusion on how the blockchain works what exactly is a wallet.

Coins never leave the blockchain, transactions are added constantly to it making it larger and larger.

Each coin is in a public address (wallet), think of this as a bank account number.

Each public address has a private key, think of this as a password to your bank account.

If I know your public address (bank account number) I can send you money, but without your private key (bank account password) I can't use your funds.

When you have something on the exchange, they control both your private and public key. Almost defeats the purpose of decentralization, you do not have absolute control of your money.

I agree with everything you said, and it is very helpful to better understand.

At the same time, exchanges are kind of a necessary evil in order to have liquidity and to determine price - and there are all kinds of projects to attempt to work on decentralized exchanges that so far are not really known or trusted to work without fucking up glitches.

Sure, if you want to liquidate a whole bunch, you may be able to find someone to accomplish the transaction directly - but people do not tend to spend their time looking for buyers and sellers because they have other things to do, and exchanges allow for these kinds of seemingly necessary evil transactions.

There have been several suggestions in the past to assist guys in their thinking about this, which on a personal level guys may consider only keeping the amount of coins (and value) on exchanges that you feel necessary to trade or that you may want to convert quickly. On the other hand, these kinds of quantities can snowball, and sometimes guys may not know how much they want to keep on an exchange, and if they are worried about how long it is going to take to get there - they may error on the side of keeping more on the exchange than is really prudent. I am guilty of the same.

Post: #265

Coinbase currently experiencing slow load times - https://status.coinbase.com/

Probably will be solved in a few hours but still concerning.

Post: #266

I've been doing a little digging into Ethereum's upcoming transition to proof-of-stake, and I think I've found an obscure but important fact that few people seem to have noticed.

Quote:During the latest Ethereum core developers call on March 17, Vitalik Buterin mentioned that the recent Ether price increase has affected Ethereum’s impending Ice Age. The Ethereum Ice Age refers to the exponential slowing of the network as the difficulty bomb begins to make mining harder. This is all about the eventual switch to a Proof-of-Stake consensus algorithm, slated to slowly roll out until the Metropolis release intentionally (beneficially) hard forks the network away from mining. What’s interesting is how an increase in mining power pushes the Ice Age further back.

Vitalik ran calculations based on the blockchain’s current statistics during the meeting. He concluded that “by the end of June, the block time is only going to be around 19.5 seconds; by the end of August it’s only going to be about 28.5 seconds.” Those are lower than previous estimates, which saw block times reaching over 32 seconds by the end of August. While only a difference of a few seconds, the deviation is significant and was brought about by the recent run-up in the price of Ether. Buterin is heard saying during the call that “in general, the difficulty of a blockchain is a kind of very lagging, moving average of the price.”

By moving away from the energy-intensive proof-of-work mining currently used by Bitcoin (and many other cryptos), Ethereum will have a sustainable way of securing the network that will allow it to scale globally without requiring the absurd amounts of electricity devoured by typical crypto mining.

Now, this has been part of the plan for some time - in fact, it's built right into the code, so anyone mining Ethereum knows what they're getting into.

The "difficulty bomb" mentioned in the article is describing a process by which Ethereum blocks (the groupings of network transactions processed by the miners, which also reward them with new Ether tokens) will enter the network more slowly over time, and if left unchecked would eventually slow the network so much that it would become unusable (hence the "Ice Age" moniker). This was hard-coded into the network in order to incentivize the transition to proof-of-stake (in that folks really don't have a choice, it's either get on board or watch your network freeze to death).

Before everyone starts panicking, the plan is (if needed) to change that bit of code when the next network upgrade, Metropolis, is released later this summer, so if the development team thinks the proof-of-stake transition will require more time, they can change up those timelines during the Metropolis rollout.

However (and this is where things get interesting), the ice age algorithm is still in play until Metropolis happens. That means that every day, blocks will be released a little more slowly than the day before. And because new blocks are where new ETH tokens are created, that means the supply is going to be increasingly restricted while we wait for Metropolis to be introduced.

You can see this process happening in real-time here on EtherScan's Average BlockTime Chart. The change is subtle, but it's there.

Since March '16 blocks have been released roughly every 14 seconds...until about the second week of April this year. It's been increasing every day since then; today's average is already up to 15.83. That might seem like a small increase, but we've already slowed the release of new tokens into the system by 13% since April!

In summary, this means that the supply of Ethereum should decrease steadily every day until the Metropolis upgrade, which could come out any time between June and August. Meanwhile, demand is at an all-time high.

It's a perfect storm for price appreciation

(Someone, please double check this and make sure I didn't miss something!)

Post: #267

(05-24-2017 03:20 PM)JayJuanGee Wrote:  I agree with everything you said, and it is very helpful to better understand.

At the same time, exchanges are kind of a necessary evil in order to have liquidity and to determine price - and there are all kinds of projects to attempt to work on decentralized exchanges that so far are not really known or trusted to work without fucking up glitches.

I didn't say anything that I am against exchanges. I love exchanges, they make the market. I'm saying that no one should keep money for longer than absolutely necessary on exchanges. Definitely don't be storing coins on exchanges.

They get hacked, they "lose" your funds, all other sorts of shady stuff can happen. Mt. Gox ring any bells?

Gee you keep your coins on the exchange, great. No other RVFers should keep money on exchanges, period. Get a paper wallet, or invest in a hardware wallet.

Control your money!

Post: #268

The only coin that is down not and seems attractive from the point of view of bying on the low is Ripple. It is number 3 after Bitcoin and Ether in competitive score on coingecko but yet it seems that noone is talking about it.

Any ideas guys? And where do I buy it? Poloniex?

Post: #269

Question for the pros here; Is there any noteworthy difference between buying and selling my coins on Coinbase and buying and selling them on GDAX? Please answer in layman talk as I'm hardly versed on this subject.

Post: #270

(05-24-2017 09:45 PM)Gas Wrote:  Question for the pros here; Is there any noteworthy difference between buying and selling my coins on Coinbase and buying and selling them on GDAX? Please answer in layman talk as I'm hardly versed on this subject.

Fees are lower on GDAX.

Post: #271

Is coinbase still down for you guys?

Post: #272

(05-24-2017 09:44 PM)Vinny Wrote:  The only coin that is down not and seems attractive from the point of view of bying on the low is Ripple. It is number 3 after Bitcoin and Ether in competitive score on coingecko but yet it seems that noone is talking about it.

Any ideas guys? And where do I buy it? Poloniex?

Don't get mislead to give credit to something merely based on Market cap.

Ripple has a lot of issues in regards to centralization and manipulation of available supply - frequently referred to as a bank shiller coin, but yeah, you could make money on a pump, possibly. A problem is that Ripple is not really adding anything innovative, and you are subject to the manipulation of maybe you will win and maybe you will lose, like investing in a tightly controlled company.

Why is it listed with cryptos, who the fuck knows? It was actually pumped a lot in early 2014 - and was 2nd for a long time, then it had scandles etc.. that were never really resolved.

In other words, if you buy Ripple, plan an exit strategy and maybe don't invest much. I would not invest any, but I don't buy into very many of the alts, either - even though they might make guys a lot of money.. I am just nervous about whether they fundamentally add value beyond the smoke and mirrors of their creators (and committees).

Post: #273

(05-24-2017 09:51 PM)Isaac Jordan Wrote:  

(05-24-2017 09:45 PM)Gas Wrote:  Question for the pros here; Is there any noteworthy difference between buying and selling my coins on Coinbase and buying and selling them on GDAX? Please answer in layman talk as I'm hardly versed on this subject.

Fees are lower on GDAX.

I suppose my next questions is, why do people buy on Coinbase then? I've just signed up for both, looks to me like Coinbase is just prettier but GDAX is more feature-rich.

Post: #274

(05-24-2017 09:44 PM)Vinny Wrote:  The only coin that is down not and seems attractive from the point of view of bying on the low is Ripple. It is number 3 after Bitcoin and Ether in competitive score on coingecko but yet it seems that noone is talking about it.

Any ideas guys? And where do I buy it? Poloniex?

I wouldn't touch Ripple. Its centralized and a large amount of the coins have been controlled by the developers from the start. You are basically at their mercy, they could sell and crash the price or just decide to create more coins for themselves when they feel like it. It doesn't really compare to Bitcoin or Ether at all.

See discussion here:
https://www.reddit.com/r/Bitcoin/comment...ket_share/

Of course if you are just in it for the short term and want to take a gamble that the price will go up again then of course you could make money off it, but that is the same with any crypto at the moment really.

Post: #275

Stay away from Ripple. Jed McCaleb has like 9b coins, a small group of people control 20% of the market. He's a douche. Mt. Gox founder. Technically it is the largest market cap, but all the calculations online use "available supply".

They pretended to make this less of an issue by putting some large amount in escrow. Don't buy.

If you want to get wet, buy STR, its basically the same thing. Ripe with manipulation. Low volumes. High pump-n-dump capability. Good ride. Uber risk. Look at the chart, like a yo yo.

GDAX you need to do more than "Buy", so people use coinbase. Use GDAX.