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Cryptocurrencies (Bitcoin, Ethereum, Litecoin, etc.)

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I first got into cryptocurrencies in 2013.   I had been hearing about Bitcoin for awhile, but I didn't take it seriously until I was riding in a taxi, and a sticker in the cab said "I accept Bitcoin".   

How about you?

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I bought several hundred in 2011 so I could buy things on various markets that are most easily accessible by tor.   

 

Sometimes you make a $5 million mistake.  These things happen. 

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7 minutes ago, T’Boo Ted Marshall said:

Bought into Bitcoin and ETH last year and on a dip this year. Haven’t delved into the alt coins but I’ve been watching a few. 

What’s the prevailing opinion on the market moving forward?

I see the market currently consolidating after the huge gains of the last year.  I see a lot of chop going forward and we could test the recent lows on BTC of about $6600, but I think there is a floor in price provided by all the bigger money that's been working its way into market. The recent G20 meeting where any coordinated crypto regulation was shot done was bullish as well. 

For BTC specifically, I think a whole lot hinges of the development and success of the Lightning Network currently being rolled out.  By most accounts, it's looking good. If it continues I see good chance of another mega ramp starting up towards the end of the year. 

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For altcoins, I think a really positive sign would be to see less correlation between coins.  All coins, no matter how scammy, going up and down together shows that there's still a vast majority of just wild speculation.  People aren't really trying or are unable to discern which projects have potential and which don't.  

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4 minutes ago, GRHorn said:

For altcoins, I think a really positive sign would be to see less correlation between coins.  All coins, no matter how scammy, going up and down together shows that there's still a vast majority of just wild speculation.  People aren't really trying or are unable to discern which projects have potential and which don't.  

It's a beating seeing all coins move in tandem. At this point it's like it doesn't even matter what you're invested in since everything moves so closely together. Hopefully this stops happening at some point this year.

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I’m in and along for the ride.  Bought most at a mid point last December.  I’m down right now, but I’m no hurry for it to run.  A good, steady climb up would be great.

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Looks like another shitty day in the red. Agree with the above though, hate how they all pretty much move up and down together, hopefully that changes this year. 

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4 hours ago, Cleo McDowell said:

It's a beating seeing all coins move in tandem. At this point it's like it doesn't even matter what you're invested in since everything moves so closely together. Hopefully this stops happening at some point this year.

So much this. It's like they're all the same damn thing right now.

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1 hour ago, SquishMitten said:

So much this. It's like they're all the same damn thing right now.

It's exactly this.  As if they're all repetitive at this moment in time.

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2nd time in a week that bitcoin has bounced up strongly from the 7600-7900 range. To me, reeks of big money picking entry spots and accumulating.  Like I said I see this continuing for a while as retail speculators trapped after the December/January highs sell some of these smaller bounces to get out  

 

Hopefully as time passes and “smart money” makes its bets on whIch Alts are actually useful, we will see less correlation within crypto. 

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I like and own XRP, Nano, and Eth.  I'm not crazy about Bitcoin and think there are dozens of better altcoins, but I'm debating getting into it just because it always tends to spike before the alts follow.

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Own small amounts of many of the coins listed above.   Not investing more right now other than to mine ETH.  Thinking about trading some of the mined ETH for BTC to diversify.

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The biggest takeaway from the crypto craze is going to be blockchain.  Immutable transaction ledgers have huge implications for securely transmitting information.  

I have one of my teams PoC'ing it as we speak.

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Bought 1.3 bitcoin in early 2014 at $846. Thought the fad was over and sold in late 2014 at $330 to write the loss off against some stock gains. FML

Didn't really pay attention to it again until late last year with the news of the huge run up.

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On 3/29/2018 at 6:09 PM, GlenFromTheMailRoom said:

The biggest takeaway from the crypto craze is going to be blockchain.  Immutable transaction ledgers have huge implications for securely transmitting information.  

I have one of my teams PoC'ing it as we speak.

Tzero looks like it could be an interesting implementation of this. Majority owned by overstock. Currently being looked into by SEC.  not surprising imo since this is such a revolutionary idea/concept. 

tzero-overview.pdf

 

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1 hour ago, GRHorn said:

Tzero looks like it could be an interesting implementation of this. Majority owned by overstock. Currently being looked into by SEC.  not surprising imo since this is such a revolutionary idea/concept. 

tzero-overview.pdf

 

The Corp dev team and I are talking with a similar German company this week.  I think it’s called Chainbase.  

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Any of you peopke mining? I have a small operation .. 12 gpus and a couple of Asics in the basement.

Sent from my SAMSUNG-SM-G935A using Tapatalk

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1 hour ago, beer said:

Any of you peopke mining? I have a small operation .. 12 gpus and a couple of Asics in the basement.

Sent from my SAMSUNG-SM-G935A using Tapatalk
 

20 AMD GPUs. 

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20 AMD GPUs. 
I am almost tempted to sell them at these prices but I can't justify buying more. No ing what? I've been doing pirl last few days.

Sent from my SAMSUNG-SM-G935A using Tapatalk

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16 hours ago, beer said:

I am almost tempted to sell them at these prices but I can't justify buying more. No ing what? I've been doing pirl last few days.

Sent from my SAMSUNG-SM-G935A using Tapatalk
 

I hear ya but I’m a mine + hodl so I’m for the long haul.   Basically just mining ETH.  I wouldn’t mind finding other coins to mine or even purchase a Nvidia cards/rig to diversify. 

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On 3/31/2018 at 7:30 PM, beer said:

Any of you peopke mining? I have a small operation .. 12 abacus and a couple of Asians in the basement.

Sent from my SAMSUNG-SM-G935A using Tapatalk
 

Fify

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Quote

China’s central bank will launch a crackdown on all types of virtual currencies this year, a vice governor of the central bank said on Thursday.

The central bank will also push forward the research and development of its own digital currency this year, Fan Yifei said in a statement posted on the website of the People’s Bank of China (PBOC).

https://www.reuters.com/article/us-china-finance-digital-currency/china-central-bank-will-launch-crackdown-on-virtual-currencies-idUSKBN1H515L

Headwinds. 

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You will not be able to buy cryptocurrency through banks or e-wallets etc. in India anymore as the Reserve Bank of India (RBI) has banned them with immediate effect from "dealing with or providing services to any individuals or business entities dealing with or settling virtual currencies".

RBI, while announcing its first bi-monthly monetary policy for the FY 2018-19, has announced that any entity regulated by them such as banks, wallets etc. shall not deal with or provide services to any individual or business entities for buying or selling of cryptocurrency such as bitcoins. If banks, e-wallets and any other entities regulated by RBI are not allowed to facilitate sale or purchase of cryptocurrencies, obviously individuals will not be able to transfer money from their bank accounts to their crypto-trading wallets.
...

https://economictimes.indiatimes.com/wealth/personal-finance-news/your-bank-will-not-allow-you-to-buy-bitcoins-anymore/articleshow/63627123.cms

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WalletInvestor is back at it.  I was curious what some of their predictions were and they fluctuate wildly.

A few weeks ago ONT had a "poor" outlook, but with lots of action on it the last 2 days it is now "awesome".  

 

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...

A local start-up company founded last year, OneGram, is issuing a gold-backed cryptocurrency — part of efforts to convince Muslims that investing in cryptocurrencies complies with their faith.

The global surge of interest in bitcoin, ethereum and other cryptocurrencies extends into the Gulf and southeast Asia, the main centers of Islamic finance.

But because they are products of financial engineering and objects of speculation, cryptocurrencies sit uneasily with Islam. Sharia principles, in addition to banning interest payments, emphasize real economic activity based on physical assets and frown on pure monetary speculation.

That has triggered debate among Islamic scholars over whether cryptocurrencies are religiously permissible. Cryptocurrency companies are seeking to sway the debate by launching instruments based on physical assets and certified as valid by Islamic advisors.

...

More:  https://www.reuters.com/article/us-crypto-currencies-islamic-finance-ins/cryptocurrency-traders-use-old-gold-in-drive-to-draw-islamic-investors-idUSKBN1HF076

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I'm thinking we will keep fluctuating between 6K and 7.5K for a little longer. The wind in the sails is gone and it's going to take some really positive news to kick off another rally. I've got about half in BTC/ETH and the other half in several Alts. I'm still positive about ICX and VET but these may take another few months and BTC to stabilize before they take back off.

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It's sad not being able to look back through the old thread and laugh at the people bragging about putting all their gains into the next big things, Verge, VEN, etc that fell 70-90% each since those posts were made

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7 hours ago, bernorange said:

I wonder how one goes about cashing in this particular coin to get some actual gold. I would be very wary-- this is another thing that was theoretically going to be backed by gold, some day:

confederate-money.jpg

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42 minutes ago, RDCanecutter said:

I wonder how one goes about cashing in this particular coin to get some actual gold....

There appear to be several crypto's in development that are claiming some form of gold backing.  OneGram in particular (first one mentioned in the article referenced above) says:

Quote

...

Each OneGram coin/token (OGC) is unique because it is backed by a minimum of one gram of gold. OneGram is abundant and when the tokens go on sale at the Initial Coin Offering (ICO) in May 2017, there will be 12,400,786 tokens. All of them will be available for purchase through our partner GoldGuard, an online gold trading platform that enables customers to buy and sell gold at spot rates and physically store it. ...

OneGram coins are issued and redeemed for gold via the the GoldGuard platform. After coin launch, the OGCs can be bought, sold and traded via any major cryptocurrency trading platform.

...

Once a OneGram coin/token (OGC) is issued, it can be redeemed for physical gold from GoldGuard at any time. Any OneGram coin redeemed for gold or the equivalent in fiat currency is sent to a publicly verifiable burn address, permanently removing the coin from circulation.

https://onegram.org/whitepaper

 

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Related to tax day, perhaps?

Quote

The price of bitcoin took a dive Tuesday, falling by more than $200 in under 20 minutes, a move that could have been the result of a single seller unloading a sizeable amount of the digital currency.

The balance of wallet 3D2oetdNuZUqQHPJmcMDDHYoqkyNVsFk9r — an anonymous digital account which is valued at $1.49 billion — fell by 6,500 bitcoin Tuesday, with the average sale price sale being $8,146.70, a total value of just over $50 million, according to bitinfocharts.

The sale comes a day after the third-largest wallet, which famously purchased over $400 million in bitcoin in February, let go of 6,600 bitcoin at an average price of $8,026. All told, the two whales dumped over $100 million of bitcoin within 24 hours.
...

More:  https://www.marketwatch.com/story/bitcoin-whales-dump-100-million-of-digital-currency-in-24-hours-2018-04-17

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I've seen the tax day thesis explaining some of the price drop. Could've played a part.  

 

Crypto proxy stocks have been strong and actually led the most recent gains by cryptos. I'm using the down time to try to learn more and add a little bit of $ to crypto each month. I do think security tokens could be the next big move. Tzero that I mentioned above is involved as well as a crypto $Poly that I just bought. Small amount, but could have asymmetric upside if security token offerings become commonplace.

https://www.polymath.network/resources/whitepaper

Here's a good quick read explaining use and possibilities for security tokens.

https://medium.com/@apompliano/the-digital-age-of-securities-e78950fd1b5d

 

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On 3/29/2018 at 7:09 PM, GlenFromTheMailRoom said:

The biggest takeaway from the crypto craze is going to be blockchain.  Immutable transaction ledgers have huge implications for securely transmitting information.  

I have one of my teams PoC'ing it as we speak.

Buddy of mine sells for a blockchain consulting company. This guy started a tech company around 15 years ago, went public, made a fortune but pissed it away. He called me wanting to do something. Sent me this. Real Estate is perfect for blockchain to eliminate all the title work and crap that is associated with it.

 

https://cprop.io/

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Definitely on an upswing.  ETH was $500 a week ago, $688 now. And the real gains have been with many of the alt coins.   If anyone still wanted to take advantage of the down prices, that period may be ending soon.  

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