General Anyone follow cryptocurrencies (bit coin, ethereum, etc.) ?

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delightone said:
I am now the proud owner of almost 10K in XVG (verge currency)
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Until Bitcoin gets true privacy, I'd say that's a safe start.

delightone said:
I'm thinking to ad some Ripple to that what say you.
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I did the math on ripple once. I can't remember how lol but I decided it has a goal around 86 cents or something. It'll probably make a dollar or more but then settle out. Just too much supply. Amazing technology but not a currency per say.

I would only move into real currency applications. In the short term, great techs will make money but I'm mixed on the longterm of investing in the coinage related to things like world computers and blockchain storage tech.
 
Wintermute

Wintermute

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Apr 24, 2015
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Splinty said:
Mining is converting electricity to stored value in these currencies.
So find out electricity cost and you can figure out if its worth it. There are sweet spots. But probably not worth it to overthink it. Just starting on your own machine is worth it if the basic math works out.

China and others have run the market up on the best video cards to mine with. So you might not be as efficient as you could be.
Mining rigs are going for 5 times their normal market rate.

The richest people during the gold rush sold shovels ;)

The other secret? A ton of nerdy tech guys are mining with farms and electricity that isn't theirs. They are running clients on their work computers and essentially stealing electricity to earn coin. But its almost impossible to figure out if you are the person that maintains what gets installed on these machines.
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I doubled down on my initial buy and set up at wallet elsewhere. The weirdest part of this is that transfers/buys/sells take a couple of days instead of minutes with a normal bank.
 
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peter_weyland said:
The weirdest part of this is that transfers/buys/sells take a couple of days instead of minutes with a normal bank
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For bitcoin? Yes.

The network is too busy and for a huge number of political and technological reasons certain known fixes have not been implemented yet.

They are coming but Bitcoin has the double edged sword of being the most popular, and thus the most secure network, but also more bureaucracy than many others.

Moving your Litecoin would have taken seconds to minutes. And soon that will be even faster too.The foundation of Litecoin is excellent and only getting better. It's like Bitcoin without all of the bureaucracy and politics.


These improvements will come to Bitcoin butter slow going.
 
delightone

delightone

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Splinty said:
Until Bitcoin gets true privacy, I'd say that's a safe start.




I did the math on ripple once. I can't remember how lol but I decided it has a goal around 86 cents or something. It'll probably make a dollar or more but then settle out. Just too much supply. Amazing technology but not a currency per say.

I would only move into real currency applications. In the short term, great techs will make money but I'm mixed on the longterm of investing in the coinage related to things like world computers and blockchain storage tech.
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I'm just getting read in on crypto, it's a jungle out there if you are just starting, from what i read xvg seemed like a safe start indeed so i threw in a 100 just for shits and giggles and see were it gets me while i do some research.
I'm up 15% in a few hours which i find insane, i'll be holding this for a while and maybe add some others for a few hundred and leave it at that and just play with it.
 
delightone

delightone

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Splinty said:
Until Bitcoin gets true privacy, I'd say that's a safe start.




I did the math on ripple once. I can't remember how lol but I decided it has a goal around 86 cents or something. It'll probably make a dollar or more but then settle out. Just too much supply. Amazing technology but not a currency per say.

I would only move into real currency applications. In the short term, great techs will make money but I'm mixed on the longterm of investing in the coinage related to things like world computers and blockchain storage tech.
Click to expand...

You're about to know in a few hours/days if your calculations were right, on ripple, it's up around 80 cents with a 68% gain in the last 24hrs.
 
delightone

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I'm using https://www.litebit.eu/en/but they have lower selling rates than other exchanges, it's a dutch based exchange that takes fiat currency so no need to convert BTC, was a easy choice for me because i don't own any, i'm just dipping my toe in to this world.

I truly don't know were to send you outside of binance.com or bitstamp.net, maybe @Splinty can point you in a better direction.
Disclaimer: i really don't know if litebit is trusted enough for your standards, there are some louzy reviews and some good ones.

Edit: litebit seems to be in maintenance mode for ripple.
 
KWingJitsu

KWingJitsu

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Splinty said:
For bitcoin? Yes.

The network is too busy and for a huge number of political and technological reasons certain known fixes have not been implemented yet.

They are coming but Bitcoin has the double edged sword of being the most popular, and thus the most secure network, but also more bureaucracy than many others.

Moving your Litecoin would have taken seconds to minutes. And soon that will be even faster too.The foundation of Litecoin is excellent and only getting better. It's like Bitcoin without all of the bureaucracy and politics.


These improvements will come to Bitcoin butter slow going.
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How many days to cash out
When are you going to cash out? You better have a firm plan for that imo...
 
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KWingJitsu said:
How many days to cash out
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Depends? I'm up 12 times my original investment across my portfolio.
I'm staying. This is an experiment for me.

I will hit big or lose it all. I was gun shy earlier when I would be a millionaire right now if I had pulled the trigger when I wanted to...but talked myself out of it.

KWingJitsu said:
When are you going to cash out? You better have a firm plan for that imo...
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10 years at the earliest or maybe life changing money.

No I don't have a firm plan. I have a non-insignificant amount in. But I also could lose it all and it wouldn't sting that much.

This is again, a tech experiment as much as anything and I believe in the tech as well as some of the specific currency plans like litecoin.
 
KWingJitsu

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Alright since this thread keeps giving. I've stopped being a speculator looking in, and officially jumped in as of a few minutes ago:
Bitcoin, Ethereum, & Litecoin.

Gonna actually have to go back and read this entire thread now *sigh*.
But what the hell, I waste enough of my day on here; I might as well get richer doing it. I'm on your coattails @Splinty, you better not let me down, homes!
 
Pitbull9

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Jan 28, 2015
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KWingJitsu said:
Alright since this thread keeps giving. I've stopped being a speculator looking in, and officially jumped in as of a few minutes ago:
Bitcoin, Ethereum, & Litecoin.

Gonna actually have to go back and read this entire thread now *sigh*.
But what the hell, I waste enough of my day on here; I might as well get richer doing it. I'm on your coattails @Splinty, you better not let me down, homes!
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Supposedly litecoin may be the bitcoin in 2020. I have both and I'm holding on to them no matter what. I bought 50 dollars of bitcoin along time ago. It's big now lol
 
delightone

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I guess i'm having a good day today, i put a another couple of hundred in too diversify a bit and i'm up 155% on my complete investment.
I just am hoping i'm still good in the morning, cause these altcoins fluctuate like a motherfucker.
 
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Bitcoin cash was $2,000 yesterday.
Long term I think it's probably a garbage currency.
If your Bitcoin was on coinbase during the fork you can access Bitcoin cash on January 1st.

I'd probably sell pretty quick at that point
 
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Splinty said:
Bitcoin cash was $2,000 yesterday.
Long term I think it's probably a garbage currency.
If your Bitcoin was on coinbase during the fork you can access Bitcoin cash on January 1st.

I'd probably sell pretty quick at that point
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Waiting for the bubble to burst. Any idea when it's gonna happen?

There was a small dip at the end of the week last week but then prices shot back up
 
Wintermute

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Fucking Coinbase just tried to charge me $20 to transfer $50 of BTC to an external wallet app. 20 FUCKING DOLLARS!

Needless to say, that's the end of our relationship. Need to get my BTC off that stupid site and find a reasonable exchange. What a joke.
 
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peter_weyland said:
Fucking Coinbase just tried to charge me $20 to transfer $50 of BTC to an external wallet app. 20 FUCKING DOLLARS!

Needless to say, that's the end of our relationship. Need to get my BTC off that stupid site and find a reasonable exchange. What a joke.
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How? Did you set up a USD wallet?

That seems extraordinarily high, especially for Coinbase
 
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