General Anyone follow cryptocurrencies (bit coin, ethereum, etc.) ?
- Thread starter Splinty
- Start date
Where's the best place to buy Bitcoin? It's been almost a year since I bought any.
I have an Electrum wallet, but if you all have better recommendations for that too, I'm all ears.
I have an Electrum wallet, but if you all have better recommendations for that too, I'm all ears.
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M
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I expect a hilarious Bitcoin correction that is going to shake everything, but in the end the market is going to keep rising.
Keep strong hands. Weak hands will lose their asses at the first softening.
Litecoin should be about 150+ right now based on historic btc/ltc ratios. But the latest run past 10k is all hype.
I'd expect a litecoin at $200 at the lower end.
$300 definitely possible depending on what btc does.
If a proper lightning network with atomic swaps gets online, LTC will shoot the moon. And so will btc.
And we just hit 146
@conor mcgregor nut hugger
I swear I kind of want to start day trading it again, but the stress was killing me.
And I'm doing okay anyway.
Remember...strong hands when the correction comes. We are moving up in the long term. you are early.
And 225 is gone
Wtf. Lol
Now we are getting silly. LTC leaving the historic btc/LTC ratios.
@conor mcgregor nut hugger
Wtf. Lol
Now we are getting silly. LTC leaving the historic btc/LTC ratios.
@conor mcgregor nut hugger
M
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Madness
M
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No, not a goof!!
You don’t know me at all, guy!!!
#formerequationgroup
#stillactive
I bought 283$ worth Bitcoin and Litecoin for a laugh a few days ago, now it's at 609.08 apparently.
389
We've now doubled historic ratios
I apparently meant 412
I have bitcoin and litecoin
What is a "strong hand"?
I just read you want to buy on coinbase, but transfer your BTC to another wallet, like Copay to hold. You hear that?
Is it worth it to get into a mining pool for BTC? I have an extra computer I can loan to one?
Many people start to sell off as soon as a correction shows. The entire cryptocurrency Market space it's full of pump-and-dump schemes. It's volatile as new people enter and leave. There's a Futures Market that just started that may increase volatility but the hope is that it will eventually stabilize things.
If you believe in the long hold like I do, when the correction comes and you see a 10 or 20% decrease you don't sell. Those are weak hands. They let go. Strong hands hold.
The typical newbie getting into this trying to speculate make money finds out what everybody finds out in the market. Professionals own the game.
I posted before that I day traded for the month of May. I made an astonishing amount of increase in my portfolio value. It also took an astonishing amount of anxiety and time to do so. You start learning cycles and see cycles of what is probable over line pump and dumps schemes. You learn Global sleep-wake Cycles between countries that are heavy on mining and countries that are heavy on buying.
The average new person sees a big loss coming they get out they lose 10 or 20% and then they regret it and buy back in higher. Chasing ups and downs can make you a fortune or broke in weeks.
When you purchase a cryptocurrency it's being held in a wallet that is not technically yours. It's assigned to you but it's a wallet that set up by a company and if your password and information gets hacked or something there's a way that you could lose your money. None of this is currently official currency and insured. If you get hacked and lose your funds there is no recourse typically.
Because of that many people suggest that you should purchase and then move off of the wallet that is set up by whatever exchange you're going through.
What you do here depends on what your plan is. If you move your cryptocurrency into certain more secure wallets, typically it becomes a bit more difficult to quickly move that currency. This is vs coinbase which you can buy turn around and sell using your phone pushing buttons.
I use paper wallets that are laminated and in multiple locations and safes. It's very secure way to do it but it's like having that paper carry the weight and value of whatever your portfolio is. It's also not exactly the best way for me to go purchase a latte or steam game.
Like any potential currency the goal here is to view these things as stores of value. Never forget that all of this is a government intervention away from potential collapse.
But depending on your view that cryptocurrency is analogous to PayPal or Gold or Monopoly money, You may wish to buy-in and look away a little bit.
Thanks for typing up all that, very informative. I'm considering getting into mining as well, so I'm doing a lot of research.
If you have any more info on the "paper wallet" you're using, shoot it over. I read copay is a good app, and I guess you have a bunch of code words you have to save that give you access to your copay wallet if you phone gets fucked up.
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.
Well i just jumped in to the Crypto pool for the first time, i'm not a big shot so went with a small one.
I am now the proud owner of almost 10K in XVG (verge currency)
I'm thinking to ad some Ripple to that what say you.
I am now the proud owner of almost 10K in XVG (verge currency)
I'm thinking to ad some Ripple to that what say you.