Let’s jeep the thread about crypto. Weed stocks are interesting, but different thread.
I agree to hodl. I own 13 coins, and eth is the best so far. Others are volitile but trading these takes a lot of attention and tax preparation.
I own zclassic too and am waiting for the girl to btc private. I’d definitely hold on zclassic. There is talk that both zclassic and btcp will be worth very little after the fork, but that’s a minority’s opinion.
Also remember that btc private will be given coin for coin to zclassic holders and bitcoin holders but you’re bitcoin needs to be in a wallet that supports the fork (not Gemini)
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Altalt wrote:
Let’s jeep the thread about crypto. Weed stocks are interesting, but different thread.
I agree to hodl. I own 13 coins, and eth is the best so far. Others are volitile but trading these takes a lot of attention and tax preparation.
I own zclassic too and am waiting for the girl to btc private. I’d definitely hold on zclassic. There is talk that both zclassic and btcp will be worth very little after the fork, but that’s a minority’s opinion.
Also remember that btc private will be given coin for coin to zclassic holders and bitcoin holders but you’re bitcoin needs to be in a wallet that supports the fork (not Gemini)
Definitely need to hodl, especially with all the updates and rollouts scheduled in the January/February timeframe. I try and focus on buying coins from mainly the 50-300 million market cap, where a 10x won't require completely insane adoption but I only hold 7. I also stay away from coins where it's evident people are only buying them because they're super cheap and not bothering to look that there are 50+ billion out there. If you can wade through all the garbage, there are really some good projects out there.
SPHTX.. my most recent find. Being suppressed big time by whales on the only exchange it's on. Actually scheduled to go on other exchanges starting this friday and throughout January. Take a look though, a partnership with SAP seems very promising. -
What's the best coin to use as an intermediary to buy the smaller altcoins? Seems something fast like litecoin or bitcoin cash is preferable.
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Chet Steadman wrote:
What's the best coin to use as an intermediary to buy the smaller altcoins? Seems something fast like litecoin or bitcoin cash is preferable.
Buy litecoin or eth on coinbase and send it to whatever exchange you want to use. If you use litecoin you will have to sell it for bitcoin or eth when you get it to that exchange to buy whatever alt you want. Litecoin is the fastest and cheapest but you will have to have the additonal transaction. With eth you may not have to do that if there is an eth pair for your particular alt. -
Thoughts on latest South Korea craziness?
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disgraceful_admin wrote:
Thoughts on latest South Korea craziness?
When traditional markets get shaky, folks transfer to currencies, bonds, and commodities, and vice-a-versa. Crypto Currencies are nuevo currencies which follow the same rules. South Korea, China, India, Egypt, like every other country has governments which are resisting Crypto Currencies at the same time the Globalism Mantra are providing a strong and mighty internal demands for change. We will continue to see the wild fluctuations in the Crypto Currency market. Get used to it. -
Haven't been on letsrun in awhile, figures crypto is starting to catch on. I'll give you bros a heads up on a token that is wayyy under the radar (not even on CMC) right now, but will be huge in 6 months time: LEV. Of course, DYOR, but we are looking at BNB and KCS type returns once the exchange and leveraged futures markets are live later this quarter. Trust me, get in on this now and stop trying to chase shitcoins you see hyped on reddit and 4chan. You're welcome in advance.
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Been looking at Aigang (AIX) today. It combines the Internet of Things (IoT) and blockchain to create an autonomous insurance network for digital devices. They claim it will result in instant payouts for IoT devices. My biggest question is how fraudulent claims are prevented.
It was just listed on Kucoin this week. Trading around $4 as I got in. -
Some excellent contributions to this thread lately. Been too busy to respond but I'm sure many here have benefitted from the enlightening discussion.
Quick update:
NEO and ZClassic are exactly double what they were when I started this thread 3 weeks ago. That's 100% returns for you folks. DigiByte up 50% too, the other coins roughly the same I think.
NYCoin turned out to be a scam. Still managed to make 100% returns on it though, getting out at the right time. -
If you want to read crazy delusional posts, this is the thread.
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Ghost of Igloi wrote:
If you want to read crazy delusional posts, this is the thread.
What makes you say that? FUD -
A delusional poster would never recognize the craziness of their writing. You really should not be promulgating scams regardless of how you personally have done.
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Ghost of Igloi wrote:
A delusional poster would never recognize the craziness of their writing. You really should not be promulgating scams regardless of how you personally have done.
I try to be clear about the perceived security of a particular coin I discuss, and would encourage others to do so every time they bring up a coin.
There's a few categories of coin I've just made up below:
1.) Safety Coins
There are as safe as cryptocurrencies get, which means you probably won't lose or gain more than 50% in a day. "Safe" because the sheer amount of money in these is too much for incredibly large movements.
Mostly limited to Bitcoin and Ethereum. You could add SafetyMinus which would include Litecoin and Ripple.
2.) Promising Realcoins
These are coins with actual good technology, team, or purpose that look to increase in value. Includes NEO, Digibyte, ZClassic, and some others mentioned earlier.
There's more risk here than with Safety Coins, but also more potential for gain.
3.) Promising Shitcoins
These are coins that lack enough good tech, team, or purpose, but seem to be gaining momentum for no good reason. You can make 100-1000% on these in a day, but can easily lose 80% or more too. These are only for short term traders who know what they are doing.
4.) Moonshots
A moonshot is something with very low probability of success, but potential enormous gain if so. Typically 10-100x returns or higher, with good chance of 99% loss. Obviously, don't invest in these unless you're comfortable losing everything but want to minimize FOMO.
Of course, I'm no expert and will follow this up by saying explicitly what has been implied if not repeated here often - don't take any advice listed here unless you're comfortable losing 100% of your investment. -
Interesting...thanks from for sharing.??♀️
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What are you doing to track your transactions? I've started using cointracker.com. It's great so far, but I now see that a free subscription only allows 200 transactions and paid subscriptions start at ~$170/yr! Considering the difficulty of determining cost basis for all of the trades required to buy smaller altcoins, I think I might just have to pony up the dough...
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Glad to see the zit comments on here... probably the kids I will be selling my Reality Clash tokens to later this year at many multiples of the ICO price...
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Got $400 in ETH ready to throw away. I don’t have time for digging through the dark corners of Reddit to pick some random alts and I need your help. I’m currently on Coinbase and signed up for HitBTC.
I’d like to move my .3 ETH into ~10 tiny, promising ALTs.
Tell me what to do -
I don't think you will be throwing it away if you put some into the Pillar Project (PLR), they are working on a wallet that will make it easier for all the people who will entering cryptos to use.
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No one here has heard of the Fedcoin?
Beware, the Fed put 7 billion into this project last summer. -
Chet Steadman wrote:
What are you doing to track your transactions? I've started using cointracker.com. It's great so far, but I now see that a free subscription only allows 200 transactions and paid subscriptions start at ~$170/yr! Considering the difficulty of determining cost basis for all of the trades required to buy smaller altcoins, I think I might just have to pony up the dough...
Researchers Neil Gandal, JT Hamrick, Tyler Moore, and Tali Oberman have written a fascinating paper on Bitcoin price manipulation. Entitled "Price Manipulation in the Bitcoin Ecosystem" and appearing in the recent issue of the Journal of Monetary Economics the paper describes to what degree the Bitcoin ecosystem is controlled by bad actors.
To many it's been obvious that the Bitcoin markets are, at the very least, being manipulated by one or two big players. "This paper identifies and analyzes the impact of suspicious trading activity on the Mt. Gox Bitcoin currency exchange, in which approximately 600,000 bitcoins (BTC) valued at $188 million were fraudulently acquired," the researchers wrote. "During both periods, the USD-BTC exchange rate rose by an average of four percent on days when suspicious trades took place, compared to a slight decline on days without suspicious activity. Based on rigorous analysis with extensive robustness checks, the paper demonstrates that the suspicious trading activity likely caused the unprecedented spike in the USD-BTC exchange rate in late 2013, when the rate jumped from around $150 to more than $1,000 in two months."
The team found that many instances of price manipulation happened simply because the market was very thin for various cryptocurrencies including early Bitcoin. "Despite the huge increase in market capitalization, similar to the bitcoin market in 2013 (the period examined), markets for these other cryptocurrencies are very thin.
The number of cryptocurrencies has increased from approximately 80 during the period examined to 843 today! Many of these markets are thin and subject to price manipulation."
The manipulation happened primarily via two bots, Markus and Willy, that seemed to be performing valid trades but did not actually own the bitcoin they were using. During the Mt. Gox hack a number of these bots were able to create fake trades and make off with millions while manipulating the price of BTC.
The publicly reported trading volume at Mt. Gox included the fraudulent transactions, thereby signaling to the market that heavy trading activity was taking place. Indeed, the paper later shows that even if the fraudulent activity is set aside, average trading volume on all major exchanges trading bitcoins and USD was much higher on days the bots were active. The associated increase in “non-bot” trading was, of course, profitable for Mt. Gox, since it collected transaction fees.
But the Willy Bot likely served another purpose as well. A theory, initially espoused in a Reddit post shortly after Mt. Gox’s collapse (Anonymous, 2014b), is that hackers stole a huge number (approximately 650,000) of bitcoins from Mt. Gox in June 2011 and that the exchange owner Mark Karpales took extraordinary steps to cover up the loss for several years.
No worries.
