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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: LogicaL Chaos] * 1
    #24892142 - 01/05/18 03:39 PM (6 years, 24 days ago)

I should also note that these dollars are in fact US dollars, not Tethers, which are sometimes referred to on exchanges as USDT.  Tethers are a token instrument created by Bitfinex, which I am quite concerned about as having the potential to cause a significant crash in the crypto markets if it is exposed via audit that they do not carry the 1:1 USD backing that they claim to hold.  I would definitely recommend against using Tethers in any of your accounts.  While it is a tempting method for parking value out of crypto on foreign exchanges, the risk that they could be unbacked and could come crashing down like a house of cards is too great.

/end rant on Tethers


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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Stonehenge]
    #24892741 - 01/05/18 07:59 PM (6 years, 23 days ago)

Quote:

Bodhi of Ankou said:
How long have you been trading Geo?




15 years stocks and options.  Crypto since the days of Mt Gox.


Quote:

Stonehenge said:
He is the john mcafee of the shroomery



Oh god no. :facepalm:  That guy strikes me as a total charlatan.


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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: trendal] * 2
    #24901805 - 01/09/18 08:36 PM (6 years, 19 days ago)

Great article trendal, and good timing to boot!

I'm finding it useful to regularly review my aggregate portfolio allocation, as my assets are spread across so many areas/exchanges that it's often difficult to obtain a birds eye view at a glance.  Creating a high level snapshot helps ensure that my investment reality is in line with my psychological thesis and confidence in any given issue.  As of tonight...

  • Neblio (NEBL) 20.9%
  • Cash ($) 13%
  • Ether (ETH) 12.5%
  • Bitcoin (BTC) 11.5%
  • NEO (NEO) 8.7%
  • WaBi (WABI) 8%
  • VeChain (VEN) 4.5%
  • Icon (ICX) 4.4%
  • OmiseGo (OMG) 3.6%
  • Cardano (ADA) 3.4%
  • EOS (EOS) 2.8%
  • AirSwap (AST) 2.1%
  • Monero (XMR) 1.9%
  • 0x (ZRX) 1.4%
  • Dragonchain (DRGN) 1.3%


This makes it pretty clear that I'm far too heavily invested in NEBL, and should have unloaded more during the huge spike over the last two days.  I did sell ~40% of my stack, but seeing that these coins still comprise a hefty 21% of my aggregate, indicates that I should be looking for opportunities to continue lightening up.  I had rationalized that these particular coins are being staked for a 10% annual reward, and as recently as five days ago [the full position] accounted for less than 10% of my portfolio... but unless it's for a short term trade, I really don't feel comfortable having such a small cap issue hold such a large weight on my books.

Other notes to myself include wanting to rebuild my position in Cardano, although I will likely wait for a sale.  I first got into this one around $0.10-$0.20 and have since cut the position in half.  I do intend for it to be a long term holding however, and this is about as far back as I want to trim it.  Trimmed EOS recently as it just hasn't been able to keep up with ETH.  Would be interested in building up AST and ZRX, but only on pullbacks.

It does seem like we are witnessing the after-effects of a blow off top in many of the alts.  They were fast and furious over the holidays, and likely got ahead of themselves.  Happy to hideout in BTC, ETH and even pulling a bit more out to the good ol' USD standard, simply as a measure of discipline as quite frankly, I did not expect my crypto assets to grow this quickly.


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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: waves] * 3
    #24904110 - 01/10/18 09:27 PM (6 years, 18 days ago)

Quote:

waves said:
Just sold the vast majority of my crypto for USD. Very happy with the money I have made recently. I'm really hoping there is a major correction on the way so that I can buy back in on the cheap.




I've also spent the evening unloading about 30% of my crypto aggregate back to USD.  Several issues are looking toppy, and for fuck's sake I have seen way more gains than I ever thought I would at this point in time.  My gut tells me we have lower prices yet ahead, but even if we don't, it is time for me to take some profits, strictly as a measure of discipline.  Looks like I'll be paying a good chunk of taxes on my 2018 return.


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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills] * 1
    #24905123 - 01/11/18 09:44 AM (6 years, 18 days ago)

Despite an exaggerated Reuters article reporting that South Korea plans to Ban Cryptocurrency Trading (since confirmed that no ban is going into effect during the short term), I still think the market is looking somewhat toppy here and at the very least, will need to do some sideways consolidation before beginning the next leg higher.  I've taken pretty much spot on 30% of my crypto assets back into USD, which is several times over my original principal, and I'm comfortable with where I am now positioned as were the entire asset class to hit zero today, I am still going to be sitting on a solid reward.  Furthermore, the 70% that remains invested is the largest portfolio I've actively managed outside of real estate.  It just didn't make sense to maintain such a high level of exposure to such a volatile asset considering that for every $1 of value I held in crypto back in May of 2017 - only eight months ago - I today hold $19.  That type of return does not come around often.

As an aside, as I see many of you complaining about Coinbase, and figured I would make note that Kraken is implementing some major upgrades today.  Their developers have been working really hard over the past months, and in keeping with their management's methodical and cautious approach, they have been testing the new platform for weeks.  They are one of the few, if not the only exchange, to have undergone a third party asset audit to verify their reserves, and whom have never been the victim of any hack or theft.  Although their platform has been severely crippled due to the sheer volume of participants as the crypto sector exploded this past year, today's upgrade should resolve many of those technical issues, and should allow them to reclaim their status as one of the most reliable and trusted crypto-fiat gateway exchanges in the US.


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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Mush 4 Brains]
    #24905210 - 01/11/18 10:21 AM (6 years, 18 days ago)

The upgrades on the Kraken platform are intended to rehabilitate their trading engine, which should make it operate similar to Binance's advanced exchange engine.  I believe the engine will be integrated with the same chart functionality shown at https://cryptowat.ch/ -- but this is on word from only one of the developers I speak to who works there, and he does not have the final say on how it all plays out.  I know the final rollout has been in the testing stage for weeks though, so we should all get to see soon what it will look like.

I use Binance and Bittrex as well.  Binance is definitely the smoothest operator at this stage of the game.  Their PC client offers fast easy chart transitions, decent analytics and easy order execution.  The only problem with Binance is that they are not a USD gateway.  You are correct that Kraken requires verification for USD orders, and although it has been a long time since I completed that process, I recall it being simple and painless.  I had more of an issue getting a corporate account verified through them, as it required a detailed AML Policy statement, which ultimately wasn't a big deal, but was more cumbersome since I was unfamiliar with that process at the time.

I have been rather unhappy with Bittrex.  I don't much care for their charting functionality, and I really don't care for the fact that they don't entitle account holders to secondary assets derived from their holdings (e.g. GAS from NEO, etc.).  I have also had tremendous difficulty withdrawing assets from that exchange, as the wallets, particularly NEO and ADA, seem to be disabled for "maintenance" all the flipping time.  I don't want to convert those asset to BTC or ETH for withdrawal either, since that would constitute a taxable event.  I just want to get my NEO out of there so that I can claim my GAS. /rant


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Re: Cryptocurrency Big Dogs: Bitcoin (BTC), Ethereum (ETH) and Tezos (XTZ) [Re: brk] * 1
    #24918160 - 01/16/18 12:06 PM (6 years, 13 days ago)

More concerns of Chinese restrictions on cryptocurrency transactions has the market seeing red today.  This is a high volume break, and as we have come a long way, I would be very surprised to see an immediate snapback.  XBT/USD confirming a series of lower highs and lower lows now, leads me to believe there is no urgency to load up right here and now.  That being said, I do like to take note of issues that can withstand a broad market beating for my longer term allocation.  NEO, VEN, NEBL are all performing respectably amidst the carnage.  I have shifted my allocation in increase my weight in NEO (dropping positions in ETC and DRGN).  I haven't yet put any of the 30% that I pulled back into USD over recent weeks back to work.  If we really get a beating, I'll start to move some of that USD back to crypto, but it's going to take a lot of selling to get me there.  Bids in on ETH @ $623.  Not that I'm confident we'll get that low, but just in case we do.

I'll also note that Kraken's trading engine upgrades have been implemented and the website's functionality has been excellent, even amidst the high volume action today, which is something that would have brought order placement to a halt in prior months.


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Re: Cryptocurrency Big Dogs: Bitcoin (BTC), Ethereum (ETH) and Tezos (XTZ) [Re: Psyche delics] * 3
    #24918568 - 01/16/18 03:18 PM (6 years, 13 days ago)

Quote:

Psyche delics said:
Would you recommend selling at a loss rn? I'm thinking don't panic sell but the price continues to drop and I'm starting to lose money on some coins.




The answer to your question is, it depends.  Did you put more money into crypto than you can stomach losing?  If so, then you need to sell now.  On the other hand, was your original plan predicated on a long term time frame for investment, and did you commit to a level of capital exposure that you were comfortable not needing access to for the foreseeable future?  If so, then there is no reason to sell.  If you find yourself somewhere in between those two extremes, take as much off the table as you need to in order to feel comfortable with your remaining exposure, even if that means selling at a loss.

There is nothing in the price action as of this writing that indicates the selling is letting up.  This could change in the next hour, day, week or month, but there is significant technical damage in the market here and it would not be responsible to expect a snapback to new highs in the short term.  If this were the stock market, I would be out of 100% of my trading positions given this tape.  But this is crypto, an emerging asset class that necessitates a bit more wiggle room for volatility.  That nevertheless doesn't excuse turning a blind eye toward risk management, which is why you need to think very carefully about the considerations elucidated in the foregoing paragraph.  Many new investors to the space got caught up in the headlines of what they could have made if they had bought bitcoin last year.  This often gets confused with an expectation that buying in now will entitle you to similar future gains.  It will not.  Those moves have been made, and for all we know, crypto as an asset class may end 2018 with a loss, as those who did get in early and made bundles, look to preserve their capital and book their  outsized profits.

Trade carefully, and good luck.


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Re: Cryptocurrency Big Dogs: Bitcoin (BTC), Ethereum (ETH) and Tezos (XTZ) [Re: geokills] * 2
    #24920461 - 01/17/18 11:01 AM (6 years, 12 days ago)

Found myself tempted to put some cash back to work and buy some ETH and/or BTC this morning, but ultimately decided that I am not quite in the mood to catch a falling knife.  What I noted as significant technical damage yesterday has only gotten worse.  At this specific moment in time, selling pressure is taking a breather, however the steep downtrend channel remains intact on both of the aforementioned issues.  Even if the primary downtrend is broken (as I suspect it will be within the next day or two) I believe there will remain a tendency to sell into strength and that ~$14K BTC and $1.1K ETH will act as a ceiling for at least a couple of weeks.

Position update:

  • Idle Cash (USD) 39%
  • Neblio (NEBL) 17%
  • NEO (NEO) 15%
  • Cardano (ADA) 8%
  • WaBi (WABI) 5%
  • VeChain (VEN) 4%
  • EOS (EOS) 4%
  • ICON (ICX) 3%
  • OmiseGo (OMG) 3%
  • 0x (ZRX) 1%
  • Zap (ZAP) 1%


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Re: Cryptocurrency Big Dogs: Bitcoin (BTC), Ethereum (ETH) and Tezos (XTZ) [Re: mndfreeze]
    #24921972 - 01/17/18 09:31 PM (6 years, 11 days ago)

I am just 100% sketched out by Tether, can't bring myself to use it.  Get verified @ Kraken and trade into real USD's.


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Re: Cryptocurrency Big Dogs: Bitcoin (BTC), Ethereum (ETH) and Tezos (XTZ) [Re: mndfreeze]
    #24922629 - 01/18/18 08:47 AM (6 years, 11 days ago)

Quote:

mndfreeze said:

I've never sat in it for more then 48 hours.  I'm kinda on the fence about it too, but it works for a temp stop loss.  I'm not sure how I feel about Kraken yet.  I definitely would LOVE to be able to move directly in and out of USD, but I'm also super concerned about their past issues and this whole IRS shennanigans tax shit. 




Kraken as of last week has implemented the major phase of their trading engine update and the site has been performing admirably.  Even amidst the unusually high volume of trading we have witnessed over the past week, I have been able to cancel and execute new trades without delay.  They are also one of the only, if not the only, exchange to have submitted themselves to a third party audit of BTC reserves, as well as one of the few to have never experienced any theft or hack to date.  With a line of communication to one of their dev's, I am confident that they run their business more responsibly than most.  Coinbase/GDAX gets an honorable mention too, however I moved away from their platform after they dragged their feet on deciding whether or not to credit user accounts with airdrops like BCH.

Quote:

I'm a little more sketched about coins that are specifically for a trading site, like BNB.  I read an article about how they can be good for investing if you really think the site will do well and last, but man, thats a lot of trust in just a trading site.  That one site gets hacked and loses a ton of customers and you might be fucked.



I see an exchange based coin as generally more attractive than most of the other crypto coins out there.  If we view these coins as representative securities of their underlying operations, the exchanges are making money hand over fist and experiencing exponential growth that almost any other crypto project would kill for.  They are a hub of activity for the space and are extremely profitable with accelerating growth.  Yes, they are susceptible to theft that could be potentially crushing, but I think you're more likely to suffer a total loss with some of the other outright scam coins that are so prevalent (e.g. BitConnect).  Once fully decentralized exchanges (DEX) come to prominence, I wouldn't necessarily want to be holding these exchange based coins, but for now, the centralized exchanges are practically printing money.

I would add that Tether's lack of transparency makes me feel like they are in fact the ones doing the thieving, or in the very least, gross misrepresentation.  Their web of connections to suspect businesses, association with Bitfinex and its failure to maintain USD fiat banking relationships, smoke and mirror style of operations (ever claiming to be auditing their operations but never providing any meaningful third party results), having already represented being "hacked" to the tune of tens of millions of dollars worth of tethers (which could conceivably be a cover for their own habit of failing to back their issuance with fiat per their claimed intent)... I don't know man.  I feel like Tether could be a black swan that deals a big black eye to the crypto space if these concerns prove truthful and they end up blowing up.  I also think that if that worse case scenario were to come to pass, several exchanges that make a habit of offering tether pairs could also face grave consequences.

My fear may ultimately prove unwarranted, but I've seen enough blowups to feel like something is off with Tether.  Then again, with the way the fiat world has been able to hold together its own house of cards for so long, perhaps Tether will too.  For my part, I would be more inclined to use the DAI stablecoin, as they appear to have a more thoughtful and transparent approach to creating a stable value product, but they aren't as widely used yet so we'll just have to wait and see.


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Re: Cryptocurrency Big Dogs: Bitcoin (BTC), Ethereum (ETH) and Tezos (XTZ) [Re: mndfreeze]
    #24922634 - 01/18/18 08:51 AM (6 years, 11 days ago)

Quote:

mndfreeze said:
Think about what happened at MtGox, but if they also had a MtGox Coin like binance has BNB.

ouch!




Hehe, this is along the lines of one of the ideas being floated to rehabilitate Mt Gox creditors (of which I am one).  The idea being that the exchange can resume business with its ~20-25% of recovered assets, issuing "gox coins" for the balance of creditor assets, so that creditors can choose to cash out at the available rate, or take a hail mary on the future success of a revived Mt Gox, allowing gox coins to appreciate as the company collects trading fees and rebuilds its brand, such that creditors can cash out at a later date under the assumption that the gox coins will have appreciated in value.


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Re: Cryptocurrency Big Dogs: Bitcoin (BTC), Ethereum (ETH) and Tezos (XTZ) [Re: trendal] * 2
    #24922941 - 01/18/18 11:41 AM (6 years, 11 days ago)

I think that the development of off-chain channel based scaling strategies such as lightning network are a positive step forward.  I also think that on-chain solutions such as sharding are equally important.  Scalability is one of the biggest hurdles that must be overcome for distributed ledger technologies to achieve mainstream adoption, and I support active development of a multitude of strategies toward that end.

Neat discussion on scalability, more specifically related to sharding: https://github.com/ethereum/wiki/wiki/Sharding-FAQ


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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: mndfreeze] * 1
    #24924274 - 01/18/18 08:51 PM (6 years, 10 days ago)

Kraken supports trading on XBT, BCH, DASH, EOS, ETC, ETH, GNO, ICN, LTC, MLN, REP, USDT :rofl:, XDG, XLM, XMR, XRP, ZEC and dark pools (hidden order book) in fiat (CAD/EUR/GBP/JPY/USD) for ETH and XBT.

I am inclined to believe that once they are satisfied that their trading engine upgrades are working well, they will incorporate additional coins.  But they are a conservative bunch, which is one of the reasons I like them.  They aren't going for the fast buck, they are methodical in their implementation and make sure things are right.  The trading engine upgrade last week that took longer than expected resulted in them offering commission free trades until the end of the month as an apology.  I like the way they roll.

Also FYI, fuck Bittrex.  I have used them and still have some assets on their exchange, but only because their wallets are always down for "maintenance" and I can't withdraw the coins.  I could convert them to BTC or ETH and withdraw, but that creates a taxable event which I'm trying to avoid... and I want my GAS for my NEO!  Ugh... :bored:

Binance and to a lesser extent KuCoin are better alternatives to Bittrex.


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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: ManianFH] * 1
    #24943199 - 01/26/18 10:32 AM (6 years, 3 days ago)

Here's an article on the Robinhood rollout: https://www.coindesk.com/micro-finance-giant-robinhood-makes-big-bet-on-bitcoin-trading/

It's a pretty big step, but there are some caveats...

Here are the key takeaways:
  • The service will initially be available only in California, Massachusetts, Missouri, Montana, and New Hampshire.
  • Fee free, with instant transfers on cryptocurrency purchases for amounts up to $1000.
  • Initial trading will focus on bitcoin and ether.
  • Other coins will be available to track via watchlist, but not available to trade when the product first rolls out: bitcoin cash, litecoin, XRP (Ripple), ethereum classic, zcash, monero, dash, stellar, qtum, bitcoin gold, omisego, NEO, lisk, and dogecoin.



In other news, Tokyo exchange Coincheck confirms a huge loss of assets (at least $532 million) through theft: https://www.coindesk.com/coincheck-confirms-crypto-hack-loss-larger-than-mt-gox/


In happier news, Origin Trail (TRAC) tokens have been distributed, and my ICO contribution is up nearly 300%. :laugh:


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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: HamHead] * 1
    #24947056 - 01/27/18 09:29 PM (6 years, 1 day ago)

I wouldn't advocate purchasing mining contracts.  As has been noted, if it were such a profitable venture, the companies providing the offer would simply mine for themselves.  While you can make some money mining if you have access to low low cost electricity and preferably year round cold climate (when operating at scale), it's generally become a bit too specialized for the average joe to make any serious money off of it.

Quick update to the portfolio, moved back into Stellar Lumens (XLM), as it is showing some signs of perking up after basing for the past couple of weeks.  I don't think you need to rush in to buy this issue, but I've decided to go "back to the well" after tidying up on the last blow off top over the New Year.  Their platform seems to have gained some traction, with IBM involvement, a possible exchange in development with XLM base pairs and new ICO's in the pipe, including a generally high throughput platform at scale relative to Ethereum; and so I like this issue on both a fundamental and technical basis here.

I have also accumulated a starter position in RChain (RHOC), as it is another competitor in the scalable, multi-layer blockchain universe that includes the likes of Cardano and EOS.  I believe it is important to maintain positions in most of these "platform plays", as there's really no telling which one will get the drop on the scene, and they are all moving in the direction this sector so sorely needs to go, as evidenced by the network congestion (latency/high fees) we see on today's leading platforms.

On the super speculative side of things, there was some higher volume upside action on ZAP over the last day or so.  Volume in aggregate is still very low, but I still like this as a speculative "mad money" play, similar to the position Neblio used to hold, when I was buying around $1-$3.

  • Cash (USD) 19.5%
  • Neo (NEO) 15.5%
  • Neblio (NEBL) 12%
  • Origin Trail (TRAC) 11%
  • Ethereum (ETH) 8.5%
  • Cardano (ADA) 7%
  • EOS (EOS) 5%
  • VeChain (VEN) 4%
  • Stellar Lumens (XLM) 3.5%
  • ICON (ICX) 3.5%
  • WaBi (WABI) 3%
  • OmiseGo (OMG) 2.5%
  • RChain (RHOC) 2.5%
  • 0x (ZRX) 1.5%
  • Zap (ZAP) 1%


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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: mndfreeze]
    #24948209 - 01/28/18 10:30 AM (6 years, 1 day ago)

What is your thesis for Verge (XVG)?  I've taken a few cursory looks, but could never find anything to light my fire.  While I do appreciate the importance of privacy coins, I would tend to stick with a front runner (XMR or ZEC), and possibly a small secondary play on an underdog such as ONION.  Verge is kind of splitting the difference between the two ends of the spectrum, and I feel like they got ahead of themselves with the "low nominal coin value buying frenzy" we witnessed over the holidays.


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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Stonehenge]
    #24954371 - 01/30/18 11:18 AM (5 years, 11 months ago)

Quote:

Stonehenge said:
Does anyone have an opinion on iota?



I removed my exposure to IOTA approximately a month ago when vulnerabilities surrounding their wallet addresses were prominent.  It's an interesting platform, and probably worth a small allocation (as are all of the next generation platforms) for a long term portfolio.  But I just didn't see movement fast enough on their transaction issues and that was concerning to me.

Quote:

I had my finger on the button to dump wabi, but will give it some more time.



WaBi ran quite a ways and upside momentum has definitely stalled out.  I have trimmed my position by over half over the past couple of weeks, will likely let the remainder ride, since they do have a viable working product and it does take time for real hardware to integrate into brick and mortar retail locations, which is what WaBi is intent on making happen.  I also feel like they are better run than one of their dominant competitors WaltonChain (WTC), although the price action has definitely favored WTC.


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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: LogicaL Chaos]
    #24955736 - 01/30/18 09:09 PM (5 years, 11 months ago)

By wondering why withdrawals from the exchange I was using were suspended for days on end... then heading to Google to find out I wasn't alone, in turn realizing the organization's PR on the sitch was piss poor and that there was a not insignificant issue with their protocol that necessitated tending.


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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Mycjunky]
    #24957994 - 01/31/18 08:03 PM (5 years, 11 months ago)

I like LSK, picked some up today between $25-$27, and think you can probably get it closer to $22-$23 if you're patient.

Contributed to the PolySwarm presale/ICO this morning.  Good team, lots of good hype, first project of its kind in the space.  Likely to participate in Academy, Augmate and Loomia ICO's upcoming.


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