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Crypto Mega-Thread [A.K.A Cryptocurrency mining isn't for hobbyists and Ethereum's terrible]

mega_thread
ethereum
bitcoin

#344

IOTA has always been on my to-buy list. But I didn’t want to create a Bitfinex account. The wallet is also supposed to be garbage. Can you confirm that @Azulath? So I missed the week where IOTAs value tripled. It doesn’t really surprise me though as IOTA has a lot of potential.
I didn’t sell any Bitcoins ahead of the forks but instead bought some more Dash, since it was trading really low like all the the other altcoins. It definitely payed off.
I expected a major drop with Bitcoin at 10k (just like what happened at 5k). But instead there was a smaller drop a little later. I wouldn’t expect it to drop much more though. But nobody knows.


#345

Yeah, that’s why I said thinking. It’s risky and I’m not about that risk, so with where BTC is at, I’m just going to hoard my house fund for a while.


#346

Is that offline wallet? I’m looking to buy some BTC but I don’t like the idea of someone else holding the coins for me. Is that wallet any good?


#347

Afaik IOTA should be available on other exchanges in the not to distant future. I also tried IOTA’s wallet and wasn’t to fond of it, but it works most of the time, although logging in might take it’s time.

I expected a drop at 10k as well and sold a lot of mine after the candle chart showed a lot of uncertainty, besides a correction would be healthy for BTC. I’ll tale a look at BTC tomorrow again and if the candle chart shows more certainty I’ll consider putting my money back in cryptos. (sure, I’ve lost a little bit compared tp those who were brave, but when it comes to money I am not)


#348

did you read the whitepaper? the design is comletely unsustainable and they have marketing features like “base 3 for no reason”


#349

This thread is for discussion, not pumping. Twitter is for shitcoin pumping.


#350

Considering over the last few months, there has only been 2 Alt Shit coins that have outperformed Bitcoin, People pumping coins seems to fail.

It’s almost every other week there is a new coin I see obviously bought comments on social media trying to pump the value of. Yay for pump and dump coins.


#351

I sold BTC @ 10,150, planning to rebuy at 8,500 (expected a dip)… Well closest I saw was me just missing 8,900… continuing to wait as it approaches 12k. :frowning:


#352

Peak 90’s bubble:


#353

I read the Whitepaper, but maybe I got something wrong. Could you please elaborate on “the design is completely unstainable”?
However, I also don’t like them not explaining why the picked base 3, but there seems to be a reason for that (I haven’t watched the video yet).

In my opinion, it is a very interesting idea and in contrast to many other cryptocurrencies tries something different than Bitcoin and it appears to be resistant against quantum computing.

Also, I’m using this thread for discussion and not pumping (I wouldn’t even be able to pump a coin, my reach is far too small :smiley: ) and I would like to hear your arguments against iota. I just wanted to get a general idea what people on this forum are trading (and how they are trading their coins), because it is an interesting subject these days. Sure, there are a lot of pump-and-dumps as well, but (at least imho) iota is far from that.

I’m also aware that there are some fishy things going on in the crpyto scene, and the recent (shortlived) drop in BTC, might have been wealthy people figuring out how much they can make BTC drop, because soon it will be unfortunately possible to short-sell it.

@snowBlind623: I sold my first partial share at 9.7k and sold most again when it appeared to drop. However, since it recovered I re-bought it at around 10.5k. (Sure I missed out on 8%, but the candle chart shows strength again). That being said, I also expected a dip back to around 5k even, but the dip is cancelled (for now).


#354

the reason they cite in the white paper for using base three could work on any data format – the exponent of the base is what matters. If they used hexadecimal it would be better in theory by their same logic.

Note that PoW optimization would hardly matter in their scheme anyway.

As for unsustainable, You have 2 choices: have a single authority shapshot the tangle at arbitrary checkpoints or centralize full nodes to 1 or 2 companies with the networking and storage capabilities to handle it. either option requires the same trust model as the traditional internet in a much less efficient implementation


#355

#356

Thoughts on buying $1,000/- of BTC and just holding till end 2018? BTC is doing $11,364/- on Kraken at the time of writing…

I’ll just keep it on my TREZOR, at least that’s the idea for now… Just waiting to see if BTC will ‘correct’ towards $5-6k… hmm.


#357

I honestly doubt there will be a ‘correction’ down to 5-6k. Everybody expected it to hit 10k in December, so people dont’t see the need of a correction.


#358

People have been talking about 50-70% corrections for months. Whether they come or not within a specified time period, I don’t know but the Market is bullish and the market see regular flash crashes which trigger shorts, causing panic among new investors and those who invested more than they were willing to lose.

It’s a risk vs reward question you need to look at. It’s a high risk market. If you think the risk of losing $1000 is ok for potential high gains is worth it, go for it. If not then stay away and let people who are willing to risk it buy.

Just a few recommendations. Don’t try trading. It’s roughly an 80:20 split on people who lose money and those who make money. Buy the coins you want to invest in and hold onto them unless you don’t believe in them anymore.
Remember this is an unregulated market. Unlike the stock exchange, market manipulation is legal and happens on a regular bases. I’m talking daily.

Don’t use Kraken. It hasn’t scaled well with the influx in demand and fails to complete orders on a regular bases. If you live in the states, use GDAX. Outside of the states? GDAX, BitFinex or your local alternative. Though again, Much of these sites are unregulated and have been suspected of not holding as much bitcoin as they have on paper. Coinbase/GDAX is one of the few proven exchanges that didn’t have much of a problem returning users bitcoin.


#359

no one here is a fiduciary. ask your accountant.


#360

Ethereum, with more than double it’s original gas limit, only scales as bitcoin with segwit. Cryptokitties has thoroughly disproven ethereum’s scalability.


#361

Someone needs to make a Tulip breading game backed by the Etherium Network. I would argue we have already got beenie babies now.


#362

they have a rare pepe and meme trading game… or market…


#363

Thinking of buying 1 Litecoin ($127 CAD) just to get my feet into the shallow end of the Crypto currency kiddie pool… I’m not even sure if buying the same amount of bitcoin will be worth investing in. but what do I know im just fresh on the crypto currency scene haha