Bitcoin and other forms of digital currency

[gregpj]

17 minutes ago, TabbyBoy said:

You should've seen the PMs I had, but this isn't the time or place to post them.

No it isn't.... may I direct you to the Complaint Thread. <just kidding>

Let's move on. 

So I changed about half of my ETH into XRP the other day. Of course it dropped in price but it has stabilized for the time being. I read an interesting article that presented some 'ideas' on why ETH could rebound by year end so I couldn't resist keeping some. The basic gist of it was that it was still a viable form of digital currency and as the other wannabes die off, people who've dumped money into them will create demand (temporary) for the more established currencies. Since ETH has taken such a big dive, it has room to go back up.

I'm at break-even with the ETH I have left if I sold today. It's a relatively small sum to big players so I'm content to leave it and see if the XRP can do anything for me.

[bigboy61]

Im running at about an 87% loss but I haven't cashed any of it in. I am just going to wait it out and hope the market rebounds. It has in the past so I cling to the hope it will do the same again (next year, or in 2 years, or 5). I feel bad for everyone who dumped their retirement into crypto and lost nearly all of it. It sucks for all of us that lost a lot, but I guess you can't say we "lost" anything as we haven't actually sold it. Heres to hoping it will rebound!

[Guest TabbyBoy]

ADA and QTUM will be listed on Kraken tomorrow at 13:00 UST. Expect a price hike as I remember when EOS went up 10x soon after listing with them. I'm thinking of punting some € and then cash in after the initial hike. 2x within a week will do me, I'm not greedy ?

Be careful as Kraken did go offline a few months ago with very poor updates and still struggles with login at busy times. I no longer use them as their big outage cost me thousands in lost trades. Unforgivable IMHO and I'll never trust them again. Binance and Coinbase have been great.

Good luck if you decide to take the plunge. I'd rather throw money at that than Argos' 3-for-2 sale.

[Guest TabbyBoy]

If any of you are holding Iconomi (ICN) tokens, they are really tanking right now. The reason could be that Kraken will soon be delisting ICN tokens. It's hardly surprising as ICN has been one of the biggest losers over the last year, dropping from €4.52 to €0.28 (nearly 94%) in the last 10 months. I did buy some at €1.20 last year, but luckily sold at €2.30 once the crash started. If I only I did the same with all coins at the time ?

ETH has been strangely stable over the last 10 days, interest is certainly dwindling.

Will there be a huge rally in DEC/JAN to reach a new ATH?

No, I thought not.

[Guest TabbyBoy]

Happy 10th birthday to Bitcoin, which may not see its 11th - LOL.

Even this milestone has failed to shift crypto prices which tells me that there's no end in sight to the bearish trend and lack of confidence. It's just crash after crash and I really think it'll be over within months. Millions will lose millions.

@Val-E... FYI... that €1700 on our spreadsheet has now crashed to below €100 (€0 in 2019). LEGO wins!

[Val-E]

1 hour ago, TabbyBoy said:

Happy 10th birthday to Bitcoin, which may not see its 11th - LOL.

Even this milestone has failed to shift crypto prices which tells me that there's no end in sight to the bearish trend and lack of confidence. It's just crash after crash and I really think it'll be over within months. Millions will lose millions.

@Val-E... FYI... that €1700 on our spreadsheet has now crashed to below €100 (€0 in 2019). LEGO wins!

Antonio Banderas meme placeholder.

[The Builder]

I have an some Ethereum that I bought when it was at about $1,000 I was told it couldn't go any farther down, so I bought. Turns out, I got a bad deal when it crashed down to $100! I'm not a fan of bitcoin, lite coin,, or any others. I think that it MIGHT get big. In my opinion, it  will never be the standard way of paying, if that's what people are oping for.

It's also like gambling, which I don't do, well okay, some times, like the lottery. But investing is not buying currency. That's why I invest in the market, because you can predict which way the stock is going to go by using floors and ceilings, support and resistance lines. And there are A LOT more strategies in the stock market than currency investing. 

There is no real way of knowing what direction it's going to go when you invest in currency. No charts to analyse. 

Although I do have some Ethereum for fun purposes. ?

[conceptmachine]

I'm keeping my positions,  but I hold no bitcoin currently.  I do think there are some projects out there, that will make their long term mark. 

I think some of the down market is SEC clarification, but... soon baakt will debut, so regardless , we'll see who wants to get into the market.

Edited November 1, 2018 by conceptmachine

[Mark Twain]

Any ideas if Initiative Q is worth watching/ early sign up? Seems like a scam to get personal info at this stage--they're doing an invite program where you earn more "Q" with more sign ups. Not saying it is a pyramid scam, but when it is shaped like a diamond with four sides and pharaoh is nodding silently in the corner, you do wonder. 

[Guest TabbyBoy]

It's grim out there in the cryptoverse.... ADA, QTUM and XTZ have actually dropped in value since being listed on Kraken, so it appears that even positive news can't scare the bears away. It's got so bad that I've now got some pending orders to by 100x ETH at €1.00 each on 12 different exchanges hoping for another flash-crash like what happened on GDAX a while back. All it takes is mass hysteria following a whale taking a big dump.

3 minutes ago, Mark Twain said:

Any ideas if Initiative Q is worth watching/ early sign up? Seems like a scam to get personal info at this stage--they're doing an invite program where you earn more "Q" with more sign ups. Not saying it is a pyramid scam, but when it is shaped like a diamond with four sides and pharaoh is nodding silently in the corner, you do wonder. 

I've not seen a single ICO worth investing in this year, most are scams or the token plummets in value once released - tread very carefully. I'd personally not trust an ICO and will wait until it hits a big exchange. If there was a cause for the carnage of 2018, I'd say it was the ICO scammers cashing in which has driven down the value of BTC and ETH, the others then follow like lemmings off a cliff. I'd like to see a ban on unregulated ICOs and then see at least one token have a global purpose which none really do currently. If only one token survives, it can only be BTC IMHO or a new fork off it with speed, low cost and scalability.

 

[Legojona]

18 hours ago, TabbyBoy said:

Happy 10th birthday to Bitcoin, which may not see its 11th - LOL.

Even this milestone has failed to shift crypto prices which tells me that there's no end in sight to the bearish trend and lack of confidence. It's just crash after crash and I really think it'll be over within months. Millions will lose millions.

@Val-E... FYI... that €1700 on our spreadsheet has now crashed to below €100 (€0 in 2019). LEGO wins!

You're so grim, man. I bought bitcoin back when btc was 80 euro and ethereum in the presale and have seen a lot of crashes over the years. This one is just deeper because a lot of uncareful bets were made. If Mt Gox would not have dumped so much old bitcoin on the market it would look very different now. Just have patience for dumb money to leave. 

 

I expect bitcoin to have a 25%-50% runup in the next quarter and some alts to join. A real 10x boom of prices might hit by mid next year or end next year. The hunger for profits is still there, so a lot of money will flood in again once btc goes above 10k.

My advice is to sell about half when prices are really high (at a point where you decided earlier to be happy with the profit) and buy back those coins at an earlier high point (one it was below for a long time). I sold many coins when btc was at 12k and felt bad at the time when it reached 20. Was happy when lateron I bought back those coins in the  6k-9k range.

Edited November 1, 2018 by Legojona

[bigboy61]

I still am hoping ETH and the whole market will rebound at some point. Next year or the year after or sometime. Historically, it has rebounded, but that's not indicative of the future. 

[Guest TabbyBoy]

3 minutes ago, bigboy61 said:

I still am hoping ETH and the whole market will rebound at some point. Next year or the year after or sometime. Historically, it has rebounded, but that's not indicative of the future. 

We're all hoping, but it's now a desperate hope. There's just too much out there now, where >99% of tokens are utterly useless. When I got started, it was more-or-less Bitcoin, Ripple and Ethereum. When you spread the entire market cap of the global money-transfer economy around all current 2,500(ish) tokens, it doesn't look too good per token. I ignored Bitcoin when it was £10, but eventually succumbed at £120, but sold far too early at £2000 in May last year. If things were to rebound, there has to be very major news like Bank of America, Wells Fargo, HSBC, Lloyds and Barclays all moving from SWIFT to Ripple for example. Hearsay like Amazon, IBM, Apple and banks we never heard of piling in is just BS and people are now more aware of that. However, Ripple does respond well to good news and that'll be the first I would go to.

[Val-E]

3 hours ago, Legojona said:

I expect bitcoin to have a 25%-50% runup in the next quarter and some alts to join. A real 10x boom of prices might hit by mid next year or end next year. The hunger for profits is still there, so a lot of money will flood in again once btc goes above 10k.

 

You´ve been saying that since the crash! I too expect  a rise in value of 25% on my Pet Shops - any time in the next ten years is fine by me.

[Legojona]

24 minutes ago, Val-E said:

You´ve been saying that since the crash! I too expect  a rise in value of 25% on my Pet Shops - any time in the next ten years is fine by me.

Usually there is a nice rise in the middle of the year, but just like 2014 (after 2013 boom), this year it was just low. Just like in 2014, I think bitcoin will rise to halfway last peak (500/1000 back then and 10000/20000 now). Some big alts like ripple will probably also rise a bit. Everything will drop back by end of January though, so better to buy in then. 

 

3 hours ago, TabbyBoy said:

We're all hoping, but it's now a desperate hope. There's just too much out there now, where >99% of tokens are utterly useless. When I got started, it was more-or-less Bitcoin, Ripple and Ethereum. When you spread the entire market cap of the global money-transfer economy around all current 2,500(ish) tokens, it doesn't look too good per token. I ignored Bitcoin when it was £10, but eventually succumbed at £120, but sold far too early at £2000 in May last year. If things were to rebound, there has to be very major news like Bank of America, Wells Fargo, HSBC, Lloyds and Barclays all moving from SWIFT to Ripple for example. Hearsay like Amazon, IBM, Apple and banks we never heard of piling in is just BS and people are now more aware of that. However, Ripple does respond well to good news and that'll be the first I would go to.

I think news is not something that really affects the market. Institutional money will.

[Guest TabbyBoy]

16 hours ago, Legojona said:

Usually there is a nice rise in the middle of the year, but just like 2014 (after 2013 boom), this year it was just low. Just like in 2014, I think bitcoin will rise to halfway last peak (500/1000 back then and 10000/20000 now). Some big alts like ripple will probably also rise a bit. Everything will drop back by end of January though, so better to buy in then. 

I think news is not something that really affects the market. Institutional money will.

Do to the disappointment of this year, I think a lot will bail well short of the ATH. To be honest, my ETH is gone if (and a big if) it reaches €500 (50% of ATH). It depends on what the news is and if there's any real meat behind it. Ripplenet taking over PayPal would be a start ?

In 2020, hmmm.... will we exceed the ATH or early 2018 or will we see more decimal points shifting to the left?

One thing is certain... nobody has a clue on how all this will turn out.

[bigboy61]

6 minutes ago, TabbyBoy said:

Do to the disappointment of this year, I think a lot will bail well short of the ATH. To be honest, my ETH is gone if (and a big if) it reaches €500 (50% of ATH). It depends on what the news is and if there's any real meat behind it. Ripplenet taking over PayPal would be a start ?

In 2020, hmmm.... will we exceed the ATH or early 2018 or will we see more decimal points shifting to the left?

One thing is certain... nobody has a clue on how all this will turn out.

Ripple the currency doesnt really have a good use case from what I have heard. Ripple the company is different than XRP the currency. Companies are interested in Ripple the company, not the currency.

[Guest TabbyBoy]

1 hour ago, bigboy61 said:

Ripple the currency doesnt really have a good use case from what I have heard. Ripple the company is different than XRP the currency. Companies are interested in Ripple the company, not the currency.

That doesn't stop speculation in XRP which is what most of us (me particularly) rely on. Anything that spikes the price and then brings it back down to Earth works well for me as a day trader. However, I use XRP right now to send US$ and AU$ as it saves a lot on bank/PayPal fees and exchange rates. It has a purpose and we just need the big boys to make it easier for Joe Public. I know there's a lot of "news" and forum comments, but it's hard to know what to believe until you do your own painstaking research, when, by that time, prices have changed again. Ripple has great potential and this should filter down to the XRP token like it has done before. XLM could be another one to keep an eye on.

I'm thinking, if history repeats itself and it all spikes again in JAN'19 (I doubt it), I may buy back a small amount, say 10 ETH, 1 BTC, & 10000 XRP,  let it ride and cash out before next year's bears attack. Have a got a clue how it will turn out? No! ... and nor has anybody else.

[bigboy61]

7 hours ago, TabbyBoy said:

That doesn't stop speculation in XRP which is what most of us (me particularly) rely on. Anything that spikes the price and then brings it back down to Earth works well for me as a day trader. However, I use XRP right now to send US$ and AU$ as it saves a lot on bank/PayPal fees and exchange rates. It has a purpose and we just need the big boys to make it easier for Joe Public. I know there's a lot of "news" and forum comments, but it's hard to know what to believe until you do your own painstaking research, when, by that time, prices have changed again. Ripple has great potential and this should filter down to the XRP token like it has done before. XLM could be another one to keep an eye on.

I'm thinking, if history repeats itself and it all spikes again in JAN'19 (I doubt it), I may buy back a small amount, say 10 ETH, 1 BTC, & 10000 XRP,  let it ride and cash out before next year's bears attack. Have a got a clue how it will turn out? No! ... and nor has anybody else.

The problem with the idea of exchanging money via crypto is that it's too unstable. One day you could transfer $10,000 and end up with $11,000 on the other end. Then next you could send $10,000 and end up with $9,000. The transactions can be super fast and cheap, but the constantly changing price of the tokens poses a problem. 

[Guest TabbyBoy]

1 hour ago, bigboy61 said:

The problem with the idea of exchanging money via crypto is that it's too unstable. One day you could transfer $10,000 and end up with $11,000 on the other end. Then next you could send $10,000 and end up with $9,000. The transactions can be super fast and cheap, but the constantly changing price of the tokens poses a problem. 

With my buddy in SC, the following "journey" took about 2min:

From my exchange wallet, I changed GBP to XRP, sent that to his XRP exchange wallet and he then changed to USD. It was virtually free compared to losing 5% via banks or PayPal. I used to use BTC, but that took hours!

If it ever gets regulated, prices will stabilise, but speculation will be over.

[MoHu]

                 Rate        Charge         Cash Out                             Total in         Cash in
BCH   
11/10    £  348.33    £14.68    £ 1,000.00    2.82867256
03/11    £  364.50    £15.36                           2.82867256    £1,031.05    £1,015.69

--------->      PROFIT  £15.69     <-----------------

 Think i might stick to toys

 

[Guest TabbyBoy]

3 hours ago, MoHu said:

                 Rate        Charge         Cash Out                             Total in         Cash in
BCH   
11/10    £  348.33    £14.68    £ 1,000.00    2.82867256
03/11    £  364.50    £15.36                           2.82867256    £1,031.05    £1,015.69

--------->      PROFIT  £15.69     <-----------------

 Think i might stick to toys

 

Well done as most are losing right now. Check back in a year to see what would've happened.

[MoHu]

18 hours ago, TabbyBoy said:

Well done as most are losing right now. Check back in a year to see what would've happened.

Everytime I buy the price falls.  Now I sell the prices rises.  If I sold now instead of yesterday i'd have an extra £200+

[bigboy61]

1 hour ago, MoHu said:

Everytime I buy the price falls.  Now I sell the prices rises.  If I sold now instead of yesterday i'd have an extra £200+

Yep. Everytime I buy, the price tanks. That's why I quit buying anything. I am just holding them until the market (hopefully) rebounds so I can at least break even (hopefully make a good profit). 

[Guest TabbyBoy]

The prices have risen today for the first time in 3 weeks. I just sold some ETH at €190 and will by back when it tanks back to €175. It's the biggest % swing today in a long time. Could the market actually be starting to move? However, I'm not banking on it this time.