Post: #326

ETH down to 178. Was 200 when I looked yesterday. Is this the dip you were all hanging out for.

Post: #327

(05-25-2017 06:29 PM)Gas Wrote:  

(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.

The price does get locked in.

They just have systems in place so that you don't run off without paying.

Post: #328

I understand that. When you buy stocks the turnaround time can be similar.

However with the prices literally swinging 20-30% in 24 hours, a week might feel like a century in this case.

Post: #329

ETH now 170. I haven't been able to buy as my funds still haven't cleared, but if I could have bought I would have done so around 200 yesterday. Blessing in disguise, that fund processing time...

Although by the time my funds clear it will probably have tripled again. Or halved.

Post: #330

im greedy and waiting for 160.

Post: #331

All of my buy orders executed with the dip, and now I have no USD to play around with.

Still waiting for my additional funds to clear.

If it dips more, I hope it stays down so I buy more coins. Cheaply (it's all relative).

Post: #332

Looks like it's on the way back up. I used to do a lot of tech analysis with stocks and I'm trying to see if the same principles apply, obviously the psychological aspects remain but I'm interested to see if these charts behave the same way. Because these things are not mainstream like stocks and forex.

Post: #333

^ I was wondering the exact same thing. Does the RSI 14, for example, matter when 14 days ago this was a whole different ball game, and 14 days before that it was a whole different planet?

Post: #334

Trying to think of a time when a stock has gone from $15 to $200 in two months. If that did happen, you would be ready to short sell quite heavily. Yet I don't think I will want to short Ethereum. If I knew more about the background of the coins it would be easier to make a decision but I know nothing.

Post: #335

(05-25-2017 04:30 AM)JayJuanGee Wrote:  

(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.

JJG, plus 1 for all the good work in these threads.

Re your advice above, would you use the same strategy if you did not want to hold any coins for more than one day? For example, if I want to trade within each day, but wake up and go to bed ideally holding no coins, or very few. Or is this a bad trading style?

Post: #336

(05-25-2017 09:55 PM)Stun Wrote:  ^ I was wondering the exact same thing. Does the RSI 14, for example, matter when 14 days ago this was a whole different ball game, and 14 days before that it was a whole different planet?

This is where I lose confidence. Right now looking at the graph with ETH at 185, my instinct tells me to short (or wait). It looks primed for a fall. But for all we know it's going to rocket to $500. I think in a market this young most tech analysis goes out the window.

Post: #337

Ok now I'm starting to see why the exchange you use is important.

I have accounts on BTCC, Coinbase, GDAX and Independent Reserve. The prices across all of them are different, sometimes even 5% or 10% variance. Independent Reserve is most expensive. I guess because you're all selling the same shit but the buyer and seller depth on each market is different.

Question: Is there be anything stopping someone buying a bunch of shit on Coinbase, sending it to Independent Reserve and selling it for easy profit?

Post: #338

Top Cryptos and Chains Analyst Tiwari's or Big T view of BTC... Like me he was a sceptic of BTC due to it's mutual embrace of the dark web denizens... When you embrace darkness you become dark etc etc .

They Killed Bitcoin 129 Times; Each Time, It Came Back Even Stronger

By Teeka Tiwari, editor, The Palm Beach Letter

On June 20, 2011, Forbes wrote “So, That’s the End of Bitcoin Then.”

On January 16, 2015, USA Today wrote “Bitcoin Is Headed to the ‘Ash Heap.’”

On May 5, 2017, The Daily Reckoning wrote “The Death of Bitcoin.”

Since 2011, bitcoin’s been declared dead at least 129 times.

Newsletter writers, journalists, and academics have called it a “Ponzi scheme.”

Others like the idea in theory but have doubts. They are convinced the government will shut down bitcoin and render it worthless.

If it were 2013, I would have agreed with them.

From 2009–13, bitcoin rallied from a fraction of a penny to over $1,100… and then spectacularly crashed 85% to $185.

It looked like a classic “pump and dump” to me. That’s why I ignored it.

But then something very interesting happened.

Instead of collapsing back to pennies, bitcoin found support in the $200 range. Even after the bubble popped, bitcoin was still worth billions.

This intrigued me because true Ponzi schemes have zero value when they crash.

The fact that bitcoin was still attracting buyers even after the onslaught of negative news… an 85% price crash… and universal scorn… said something to me.

It said that maybe this asset had real value. At the very least, it told me that more investigation was needed.

Lessons From the Dot-Com Bubble

I’ve seen skepticism like this before…

Back in May 1997, Amazon went public at the split equivalent of $1.30.

Amazon shot up to $113 during the dot-com bubble of the 1990s. When the bubble popped, Amazon crashed 94%—to the split equivalent of $5.97.

But again, something interesting happened…

In the depths of the dot-com hatred, Amazon started quietly climbing in price. Back then, I made the mistake of dismissing this action.

My error was buying into the prevailing belief that dot-com stocks were dumb and worthless.

I listened to the narrative instead of digging deeper into the Amazon story.

That was a mistake of lazy thinking.

So when I saw the same thing happen with bitcoin, I decided to do something different.

Instead of listening to the skeptics, I asked myself: “Why are people still buying this supposedly worthless asset?”

That’s when I did a deep dive into bitcoin.

I traveled all over the world interviewing experts, development teams, and venture capitalists. I wanted to understand why bitcoin had value.

Even Governments Are Embracing Bitcoin

Just as important, I wanted to know what would stop the U.S. government from banning it.

How would the currency outgrow its widespread reputation as a form of “black money” used by criminals?

What I found out was this: At its core, bitcoin is just a way to send and receive value without the need for a trusted middleman.

Bitcoin has no central location. That means no government (including the U.S. government) can ever shut it down.

In fact, several countries have already tried to ban bitcoin and found that it was impossible.

At least two of them (Russia and India) have decided to recognize bitcoin as money.

Governments are realizing that it’s better to have a hand in how bitcoin is shaped and regulated than try to destroy it (which they can’t).

Think back to when the U.S. government finally realized that prohibition was unenforceable. Better to regulate alcohol and tax it.

Where’s the Future Value?

The real strength of bitcoin is the underlying network of highly secure computers that support it (called the blockchain).

This is where much of the value creation will come from.

As I write, software developers across the world are building applications designed to piggyback off this network.

Over the next three years, we’ll begin to see a slew of new applications emerge for bitcoin and the network that supports it.

They will support everything from asset tracking to recording land registries.

And much more that we can’t even think of yet.

That’s why bitcoin will continue to grow in value.

Since those obituaries started popping up in 2011, bitcoin has rocketed from a low of 75 cents to as high as $2,770—an astronomical 369,223% gain (see Chart Watch below).

The next time you find yourself being scared out of owning bitcoin by a negative article, do yourself a favor… Read the last 129 times bitcoin was declared dead.

Let the Game Come to You!

Teeka “Big T” Tiwari
Editor, The Palm Beach Letter

Post: #339

And:

Washington Is Warming Up to Cryptocurrencies

Last year, the IRS came after Coinbase, the largest cryptocurrency exchange in the United States. The taxman wanted all of Coinbase’s records to determine if anybody on the exchange was avoiding taxes.

Coinbase is fighting the request. And it may be getting support from some surprising quarters.

In today’s must-see 3-Minute Market Minder (transcript included), Palm Beach Letter editor Teeka “Big T” Tiwari says powerful members of Congress are demanding the IRS to justify its rationale for this overreach.

Teeka says this may signal that Congress will eventually reclassify bitcoin’s tax status from “property” to “currency.” And that would be “wildly bullish.”

Post: #340

Even the Fed wants in on Altz Waltz...

Project FedCoin:
http://www.caseyresearch.com/cs/project-...esentation

Summary: The U.S. dollar is in crisis. Trillions of currency units have been printed. Near-zero interest rates have done nothing to stimulate the economy. And now, up to 40 different countries are leaving the dollar. Federal Reserve members recently held a private meeting in Washington, D.C. to discuss a disruptive new “monetary technology” that—if implemented—could wipe out the savings of millions of Americans. In this interview, you’ll discover the frightening details of this new potential currency from NY Times #1 best-selling author and multi-millionaire currency expert Doug Casey. You’ll also discover the four steps Casey is personally taking today to protect his savings (and that you can follow, too).

Post: #341

You guys need to relax with the price fluctuations, it's pretty normal in this messed up market.

It did double last week....or sunday something like that.

Don't short anything either, ever, no matter how much experience you have as a "stock trader". Trust me. It's completely different. Right when you short it, it will drive up to $500 for no reason, you will get liquidated then it will drop back to $200 on zero news.

Post: #342

(05-26-2017 03:02 AM)Gas Wrote:  Ok now I'm starting to see why the exchange you use is important.

I have accounts on BTCC, Coinbase, GDAX and Independent Reserve. The prices across all of them are different, sometimes even 5% or 10% variance. Independent Reserve is most expensive. I guess because you're all selling the same shit but the buyer and seller depth on each market is different.

Question: Is there be anything stopping someone buying a bunch of shit on Coinbase, sending it to Independent Reserve and selling it for easy profit?

I noticed the same thing. I saw the cheapest price on localbitcoin and I have a local walk in office and bitcoin ATMs around where I am that would pay more.

I think short term technical analysis could be used however since this is a area in tech in it's infancy, fundamentals would play a larger role in the long term potential growth for ETH. The tech behind ETH is revolutionary much like Bitcoin

Post: #343

(05-26-2017 06:35 AM)Deepdiver Wrote:  And now, up to 40 different countries are leaving the dollar.

What does that mean? You can't leave the dollar, it is the world reserve currency until something else is. The petrodollar? Different story.

Post: #344

∆∆∆ Google IMF and SDRs... The EU and BRICS ARE ALL 4 IT.

Best top 100 Cryptos intelligently diversified likely the only salvation from Fiat Central Zirping Banksters and their dreams of virtual FedCoins or SDRcoinz... They just don't get it... Decentralized blockchain ledgers only way to keep value and wealth outside their evil grasping and controling grip. Cryptos = Freedom!

Post: #345

(05-26-2017 06:35 AM)Deepdiver Wrote:  Even the Fed wants in on Altz Waltz...

Project FedCoin:
http://www.caseyresearch.com/cs/project-...esentation

Summary: The U.S. dollar is in crisis. Trillions of currency units have been printed. Near-zero interest rates have done nothing to stimulate the economy. And now, up to 40 different countries are leaving the dollar. Federal Reserve members recently held a private meeting in Washington, D.C. to discuss a disruptive new “monetary technology” that—if implemented—could wipe out the savings of millions of Americans. In this interview, you’ll discover the frightening details of this new potential currency from NY Times #1 best-selling author and multi-millionaire currency expert Doug Casey. You’ll also discover the four steps Casey is personally taking today to protect his savings (and that you can follow, too).

This is actually worth listening to. I do think it's clear that eventually they'll try this tactic. I'm not sure it will work, but they will try, it is a dream scenario for them. Although the presentation with Bob is sorta game-show host sounding, I find Doug to be very persuasive and reasonable.

On the other hand, it's more of the same Peter Schiff type stuff. Who can predict anything precisely? Very few, and they make lots of predictions. Casey seems similar.

My issue with gold [coins] is the fungibility one, always has been. It seems being in cash right now is the best strategy. I've been worried about a market dip for some time now, and am paying off all my liabilities in the interim, so I'll welcome a huge market dip and buying opportunity.

Did you get the book? Where does he say the best place to hide and buy (clever spots) gold or cash?

Post: #346

Full project FedCoin transcript...

I will look into subscription discounts to get the book... though I find if you google a detailed question you get a fairly accurate answer for no money spent.

https://www.caseyresearch.com/cs/project-fedcoin-short

Post: #347

Now here is a useful exercise for we Altz fans... to survive the end of the US Dollar large or all cash notes and loss as the world reserve currency via IMF SDRs and/or the imposition of a Fed controlled crypto-currency a..k.a. FedCoin which of the top 100 https://coinmarketcap.com/ cryptocurrencies would you hold to survive this upheaval - at least 5 to be reasonably diversified - and why?

My what Cryptos to hold list is

1. Ethereum as it has a huge and massively expanding base of developers - Microsoft just opened it up to its 3 Million developers migrating to and supported in the Azure Cloud.
2. DASH as a counterpoint and serious challenger to BitCoin - faster transactions, commerce focus.
3. Monero as a more private crypto is designed to be hard for statist controlled Central Banksters to disassemble their networks or seize like Silk Road or destroy like Mt.Gox.
4. Steem is the point blank crypto challenge to Facespergerberg's empire.
5. All of the Crypto and Blockchain techs in https://azure.microsoft.com/en-us/solutions/blockchain/ (Ethereum, Strato, Chain Coin, Etherum Studio and Emercoin) If Microsoft is blessing them in Azure BaaS Blockchain as a Service well that promotes these techs to their global base of 3 Million MS Developers community... I love open source but Bill Gates is the world's richest man for a reason and the latest version of the Azure cloud is nothing but a formidable and serious competition to Amazon AWS - I work with both and am impressed by the Azure Number 2 we try harder attitude to AWS.

Note imo anything after the https://coinmarketcap.com/ top 100 do not have sufficient capitalization (yet) to ensure transaction completions during a global financial upheaval - end of the US Dollar Global Reserve Currency while the IMF and its 40 Fiat States try to implement the basket of SDRs (A kluge concept to begin with) while the Fed tries to enforce Fed Coin while the world's free marketeers drive the growth of the current 840 Cryptos listed not to mention the innovative blockchains not listed on https://coinmarketcap.com/ since they are not associated with any crypto coins or currencies as they are focused on Commerical use cases.

I am quite curious why some of these others are in the top 20 today (NEM XEM - really?):

# Name Symbol Market Cap Price Circulating Supply Volume (24h) % 1h % 24h % 7d
1 Bitcoin Bitcoin BTC $36,651,179,493 $2241.21 16,353,300 $1,802,190,000 2.90% -9.30% 14.80%
2 Ethereum Ethereum ETH $15,583,464,123 $169.48 91,950,318 $777,049,000 5.57% -8.00% 36.63%
3 Ripple Ripple XRP $10,492,978,430 $0.274331 38,249,335,400 * $247,311,000 -1.39% 2.25% -18.00%
4 NEM NEM XEM $1,744,956,000 $0.193884 8,999,999,999 * $20,171,000 -0.11% -16.25% -11.88%
5 Ethereum Classic Ethereum Classic ETC $1,408,461,032 $15.33 91,862,345 $332,682,000 5.84% -17.42% 96.18%
6 Litecoin Litecoin LTC $1,323,160,033 $25.80 51,279,707 $501,655,000 2.02% -19.23% -5.25%
7 Dash Dash DASH $853,696,014 $116.63 7,319,758 $44,814,000 -3.03% -11.63% 18.05%
8 Monero Monero XMR $553,526,049 $38.11 14,526,260 $25,222,300 0.78% -14.48% 21.83%
9 Bytecoin Bytecoin BCN $438,740,867 $0.002398 182,941,327,222 $1,631,150 -2.49% -4.37% 66.17%
10 Stellar Lumens Stellar Lumens XLM $399,029,264 $0.041457 9,625,043,156 * $33,032,300 0.55% -6.81% -19.42%
11 Golem Golem GNT $310,141,149 $0.375987 824,872,000 * $8,086,080 0.15% -11.68% 45.44%
12 Dogecoin Dogecoin DOGE $293,564,544 $0.002680 109,535,739,103 $33,419,900 0.81% -17.55% 76.17%
13 Zcash Zcash ZEC $280,849,381 $202.39 1,387,644 $28,989,600 4.71% -12.77% 93.41%
14 Stratis Stratis STRAT $278,975,636 $2.84 98,399,939 * $5,343,840 -4.31% -3.22% 66.99%
15 Augur Augur REP $260,092,800 $23.64 11,000,000 * $4,462,370 1.99% -12.59% 41.68%
16 Waves Waves WAVES $258,433,000 $2.58 100,000,000 * $1,943,500 -1.80% 0.03% 68.00%
17 Gnosis Gnosis GNO $233,574,392 $211.46 1,104,590 * $2,681,890 -1.46% -12.97% 23.96%
18 Steem Steem STEEM $231,675,526 $0.991632 233,630,547 $3,775,380 -1.18% -13.15% -6.74%
19 Siacoin Siacoin SC $203,005,882 $0.007706 26,345,240,097 $19,505,200 2.21% -19.02% 26.89%
20 BitShares BitShares BTS $172,291,762 $0.066216 2,601,950,000 * $13,587,200 4.83% -21.12% -10.70%

Post: #348

(05-26-2017 03:16 PM)Deepdiver Wrote:  Now here is a useful exercise for we Altz fans... to survive the end of the US Dollar...

We are no where even close to that happening.

Post: #349

Real eye opener why crypto currency and blockchain adoption moving at lite speed among global financials...

https://lfb.org/wall-streets-big-fugly-secret-revealed/

Post: #350

GM... When you read the FedCoin transcript and Fugly Wall St Secret then we can discuss.

I for one never thought one BTC would ever surpass one once of gold never mind two.

I was wrong and the fossil global fin-nets about to be disrupted yuuuugely.