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Invisibledeadwk
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: deadwk] * 1
    #24603368 - 09/04/17 02:28 PM (6 years, 4 months ago)

Opened up a margin position for 4BTC/USD on Bitfinex. Once the price rebounds should give me a nice chunk of change.


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InvisibleStonehenge
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: deadwk] * 1
    #24603392 - 09/04/17 02:38 PM (6 years, 4 months ago)

Its an excellent time to buy, geo grab it before the opportunity gets away. You can get back in cheaper than for some of what you sold. I seriously doubt coin will drop below 4k. I'm a little surprised it went this low but 5k was apparently many people's target to cash out at and then the drop spooked others who also decided to sell.

They are developing what is called the lightning network. Its smart contracts made possible by the segwit activation. They are still working on the details but here is what they say it will do

*********
Instant Payments. Lightning-fast blockchain payments without worrying about block confirmation times. Security is enforced by blockchain smart-contracts without creating a on-blockchain transaction for individual payments. Payment speed measured in milliseconds to seconds.

Scalability. Capable of millions to billions of transactions per second across the network. Capacity blows away legacy payment rails by many orders of magnitude. Attaching payment per action/click is now possible without custodians.

Low Cost. By transacting and settling off-blockchain, the Lightning Network allows for exceptionally low fees, which allows for emerging use cases such as instant micropayments.

Cross Blockchains. Cross-chain atomic swaps can occur off-chain instantly with heterogeneous blockchain consensus rules. So long as the chains can support the same cryptographic hash function, it is possible to make transactions across blockchains without trust in 3rd party custodians.
********

This will solve the problems that have plagued btc, slow confirmations and high fees. Smart contracts open a whole world of possibilities. No longer will ether or some other coin have a theoretical advantage and no longer will btc face a brick wall of slower and slower transactions. It also stops greedy miners from spamming the network and jacking up fees. The future is wide open now. Get in while the getting is good!


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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)

Trade list http://www.shroomery.org/forums/showflat.php/Number/18047755


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Invisibledeadwk
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Stonehenge] * 1
    #24603548 - 09/04/17 03:59 PM (6 years, 4 months ago)

Lightning Network isn't all the hype a lot of people think it is https://medium.com/@jonaldfyookball/mathematical-proof-that-the-lightning-network-cannot-be-a-decentralized-bitcoin-scaling-solution-1b8147650800

I am interested to see how RSK implementation goes with BTC, but realistically I think BTC niche is value storage, and secondary value transfer. I only really use BTC as a value store, if I need to do any transactions I'll stick to more quicker networks (LTC primarily).


Was mining SIGT for awhile, but decided to sell what I had at a profit, and  do some trading with GNT, which is going pretty well :thumbup: Right now the most short term profitable coins to mine I don't see any real long term benefits to, so I decided to plunk my miners (CPU+GPU) on XMR for a bit churn out a couple Moneros. Thankfully got some solid CPU processing power with my Xeon servers, and my 1080 Tis can crank out some good power  :evil:


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OfflinegeokillsA
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Stonehenge] * 1
    #24603735 - 09/04/17 05:24 PM (6 years, 4 months ago)

Quote:

thedeadwalkk said:
Opened up a margin position for 4BTC/USD on Bitfinex. Once the price rebounds should give me a nice chunk of change.



Hey thedeadwalkk, nice to have someone who appears to be more deeply involved with crypto fundamentals (i.e. programming on chain) participating here.  That being said, please be careful using margin, especially in something as volatile as the crypto space.  It's an easy way to blow up your account faster than you'll know :wtf: happened.  Crypto has been an incredibly strong asset class for its recent history, and while that is great for those who have been participating, it also carries the unintended consequence of making us all feel like geniuses.  All I'm saying is, be careful and don't get overconfident.  For my part, I do enjoy leveraged trading (via option contracts), but am extremely weary of margin trading.  Your positions can be unwound without your consent when the market whips unexpectedly and it can lock in game-over losses with incredible speed.

Quote:

Stonehenge said:
Its an excellent time to buy, geo grab it before the opportunity gets away. You can get back in cheaper than for some of what you sold. I seriously doubt coin will drop below 4k.




I'll always have some skin in the game, and as I noted last week, I have accumulated some of what I sold prior.  I have also diversified into some of the newer kids on the block, namely NEO and OMG.  My OMG position size nearly doubled overnight when a good-til-canceled order I had in @ 0.00175 BTC was hit.  However, the intensity of selling over the weekend has me remaining cautious.  There have been exceptional short term gains in the space, and I would be surprised to see a rapid vault back to all time highs.  Comfortable with the exposure I have, and will look to exploit opportunities on any exaggerated price dislocations to come.

For those wondering why we have seen a swoon in crypto this weekend, it would seem China's governing decision to effectively outlaw ICO's would be a primary underlying cause.  The SEC, including similar governing bodies in Canada and Singapore, have also been making some noise about ICO's and hinting at regulation on the horizon.  This has understandably sent some jitters into the market, seeing as the massive ICO boom of past months has required people to purchase BTC/ETH in order to participate, thus fueling the positive momentum of the crypto sector.  With a moratorium on ICO's in one of the world's largest markets and impending regulatory concerns in other major markets, this will have the effect of reducing short term demand for new positions (i.e. buying pressure) in the space.  That being said, some regulation will likely be a good thing, as it will require ICO projects to lay a stronger foundation for themselves, thus burning fewer investors with pump & dump scams, and increasing the likelihood of their longevity and success.

I am not a prognosticator, so I won't try to say where this will lead, but I do believe that the crypto space is one of the more exciting, and potentially most promising sectors to be involved in here and now.  Not for the faint of heart or those strapped for cash, but as I've said before, for those with discretionary assets looking for an intriguing long-term speculative allocation, this market appears attractive.


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InvisibleStonehenge
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: deadwk] * 1
    #24603905 - 09/04/17 06:23 PM (6 years, 4 months ago)

TDW, that guy seems to make a lot of assumptions about how tln will work. I see no links to anything backing his assumptions. If the core devs thinsk it will work I need more than an opinion to convince me otherwise particularly since he tries to give the impression he knows more about it than the developers.

The lightning network has not even been worked out yet and many details will have to be gone over. If the devs don't have a finished model yet, how does this guy know how it will work? I assume they know about elementary problems such as johnaldfy or whatever his name is speaks of. Those are obvious things that would come up early on in the planning process. He may be correct in that there might end up being a number of hubs to speed connections but I don't see that being a deal breaker. We will just have to wait and see.

Obviously if it took many hops and each person along the way had to have enough coin in an account then it wouldn't work at all. I don't think the devs are stupid so if they say it will definitely speed up the network I tend to believe them until I see evidence otherwise.

The recent mini crash cost me a lot of money on paper but easy come easy go. People have killed themselves after losing less than that but I'm confident it will go back up and my only concern right now is being able to buy more while its still low. In a week or less the window of opportunity may close at least as far as picking up discount bitcoins. They will still be a bargain for a long time


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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)

Trade list http://www.shroomery.org/forums/showflat.php/Number/18047755


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Invisibledeadwk
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Stonehenge] * 1
    #24604026 - 09/04/17 07:05 PM (6 years, 4 months ago)

@Geo

Thanks! I'm actually pretty excited I'm starting the (currently) only available and recognized Ethereum Development course tomorrow, and will be taking a HyperLedger Fabric course after that. So much money to be made programming on chain, especially with HyperLedger which is gaining lots of traction in the Financial world.

Oh everything I have in my Bitfinex account as collateral I'm not too worried about I never put more than 25% of what I have into margin at any one time. As again as I mentioned earlier, a long term margin position for BTC/USD pairing, especially with the conversion to CAD is one of the safest margin positions I've opened up in the last 6 months. Definitely not a short term position, looking to keep this position opened for as long as I can hold out or get weak handed like a bitch :rofl2: As long as I dont hit the liq price point, I'm totally cool with losing money and pulling out early.


I'm all for the regulations, a new platform I'm working on (won't give any details so I don't reveal too much) was supposed to have launched already but we had to postpone 2 months to comply with SEC regulations so we can target US Consumers. Took a really long time, but we just got the OK from our lawyers:vibin: Unfortunately China was one of our target markets so I'm not sure how the recent news from them wil leffect us.The regulations as far as I'm concerned keep the scammers and money grabbers out of ICOs to a degree. If you are serious about marketing your product you should have no problem going through the motions to lock down regulatory approval.


There's a lot of money to be made in Cryptos, and there's some hidden gems in the ICO shit storm, personally I've only backed 3 out of a good 2-3 dozen i've read about. As well as some already existing, and promising,  blockchains that have yet to be realized to their full potential. I'm probably biased but this new platform I'm working for, we've got some pretty dank connections to the relevant industry at hand :likeaboss:



I've also got a pretty sweet project I'm spearheading with a friend of mine that we should be launching end of this year. Debating whether or not on how to distribute tokens, doesn't look like we're going to do an ICO or anything but will most likely premine some. I'm learning golang, and was debating implementing a super basic crypto in go but we'll see :shrug:


Was wondering, what are you favourite trading indicators Geo? I've been mostly using Stochastic, with a weighted moving average and it seems to have been working quite well. Since I started using these new indicators, trading was on average 10-15% better.

@Stone:

I do agree that BTC transaction speeds will increase but I don't buy into the whole Lightning Network hype. It's not a deal breaker, but it's not as decentralized as lots of people think it is :shrug:



@everyone:

Not sure if any of you are too familiar with Byteball and how they distribute their coins, but you essentially link up a BTC wallet, with a Byteball wallet, and a really simplified explanation of their coin distribution (read about it many moons ago), is that at certain phases of the lunar cycle they will take a snapshot of the BTC blockchain, and any accounts that had linked their BTC wallet with a Byteball wallet.

Beeb going on for I think a little over a year now, and I've made a nice little chunk of change just by holding some BTC in a linked wallet. Their next coin distribution phase should be taking place in 24ish hours.

https://byteball.org/

=============================

Got some money from a bit of day trading, not sure if I'm going to keep the profits in Bitcoin to gain a slightly higher balance for Byteball's distribution tomorrow or pick up an altcoin on the cheap.

I'm really bullish on QTUM short-medium term. It's sort of like BTC and ETH fucked and had a supermodel baby. That and QRL are also one that I have my eye on. A few months ago QRL had a job opening I wanted to apply for but decided it would be best to keep on improving my skills before dedicating my proffesional career to something as time consuming as that.


Took my GPU miners off XMR, felt too painful wasting  my cards processing power on a not-so-optimized algorithm for NVIDIA cards, so I'm back to SIGT mining with Nvidia cards, and crunching like a champion cryptonight with my Xeons an i7s

QTUM goes mainnet on September 13th, which enables their staking system, LSK rebrands later this month, XEM launching Catapault this fall. Really looking forward to seeing what the remainder of the year has in stock.

SYSCOIN is another crypto I'm bullish on, upcoming SYSCOIN masternodes, along with the ability to use syscoin as gas to deploy smart contracts on Ethereum.


Edited by deadwk (09/04/17 07:23 PM)


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InvisibleStonehenge
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: deadwk] * 1
    #24604143 - 09/04/17 08:03 PM (6 years, 4 months ago)

I know wikipedia is not the best source of info but here is what they say about how tln will work. You apparently must put up some coin on the regular blockchain to start with. THat makes sense since no one is going to take iou's. We still have to see how it actually works in practice. I suspect if it works well at all, btc will take a huge leap upward.

from wikipedia:
If Alice and Bob have a payment channel, both of them also have a "latest" commitment transaction. A commitment transaction divides the funds from the funding transaction according to the correct allocation between Alice and Bob. For example, if Alice owns 1.0 mBTC and Bob owns 1.0 mBTC in the channel, the commitment transactions divide the total channel funds in that way.

Since commitment transactions spend the funding transaction, they must be signed by both partners.

Commitment transactions are actually a pair of asymmetrical transactions. Alice's commitment transaction contains two outputs: one which pays Bob outright, and another which is a timelocked, revocable output that eventually pays Alice. The revocable output may be revoked by Bob if Bob knows the revocation key. Bob's commitment transaction is the reverse: it pays outright to Alice, but pays Bob's share under a timelocked, revocable output; if Alice knows the revocation key to Bob's commitment transaction, she can revoke it.

Initially, Alice holds the {\displaystyle A_{1}} A_{1} commitment transaction, and Bob holds the {\displaystyle B_{1}} B_{1} commitment transaction. The revocation key for {\displaystyle A_{1}} A_{1}, {\displaystyle R_{A_{1}}} {\displaystyle R_{A_{1}}}, is known by Alice, but not by Bob; the revocation key for {\displaystyle B_{1}} B_{1}, {\displaystyle R_{B_{1}}} {\displaystyle R_{B_{1}}}, is likewise known only by Bob.
Suppose Alice decides to pay Bob 0.25mBTC(before this, each owns 1mBTC):
Alice creates a new Bob's transaction, {\displaystyle B_{2}} B_{2}, which allocates 0.75mBTC to Alice and 1.25mBTC to Bob.
Alice signs {\displaystyle B_{2}} B_{2} and sends to Bob.
Bob receives {\displaystyle B_{2}} B_{2}, signs it, and keeps it.
Bob creates a new Alice's transaction, {\displaystyle A_{2}} A_{2}, which allocates 0.75mBTC to Alice and 1.25mBTC to Bob.
Bob signs {\displaystyle A_{2}} A_{2} and sends to Alice.
Alice receives {\displaystyle A_{2}} A_{2}, signs it, and keeps it.
Alice provides {\displaystyle R_{A_{1}}} {\displaystyle R_{A_{1}}}, invalidating {\displaystyle A_{1}} A_{1}; she can then delete {\displaystyle A_{1}} A_{1}.
Bob provides {\displaystyle R_{B_{1}}} {\displaystyle R_{B_{1}}}, invalidating {\displaystyle B_{1}} B_{1}; he can then delete {\displaystyle B_{1}} B_{1}.

A lot of those symbols did not display right so here is the link https://en.wikipedia.org/wiki/Lightning_Network


--------------------
“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)

Trade list http://www.shroomery.org/forums/showflat.php/Number/18047755


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Invisibledeadwk
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: deadwk] * 1
    #24604294 - 09/04/17 09:13 PM (6 years, 4 months ago)

That wikipedia highlights the problems that was pointed out in the medium article, which is the payment channel system. To have a truly decentralized LN, you need these payment channels which enforce users to spend their coins in a particular manner to ensure a decentralized LN, which is explained in the medium article. An LN is possible, but will require centralized entities. I'm not saying this is bad, just that a truly decentralized LN is pretty farfetched.


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OfflineManianFHS
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: deadwk] * 1
    #24604710 - 09/05/17 01:19 AM (6 years, 4 months ago)

Quote:

thedeadwalkk said:
There's a lot of money to be made in Cryptos, and there's some hidden gems in the ICO shit storm, personally I've only backed 3 out of a good 2-3 dozen i've read about. As well as some already existing, and promising,  blockchains that have yet to be realized to their full potential. I'm probably biased but this new platform I'm working for, we've got some pretty dank connections to the relevant industry at hand :likeaboss:





what are they good sir! Ive still got $1000 in capital im looking to invest in coin. my portfolio is

FTC - always loved it for some reason
TEZ
POT
OMG
BTC - minimal


--------------------
notapillow said: "you are going about this endeavor all wrong. clear your mind of useless fear and concern. buy the ticket, take the ride, and all that.... "

ChrisWho said: "It's all about the journey, not the destination."


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Invisibledeadwk
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: ManianFH] * 1
    #24604732 - 09/05/17 01:39 AM (6 years, 4 months ago)

The ICOs I backed? Wagerr (was able to dump shortly after for a good profit), the CryptoPing ICO, which has been very useful for day trading, and the Tezos ICO. I'm particularly interested in Tezos as it offers a functional programming language for smart contracts instead of OOP.

Currently, I've got the following in my portfolio:
SYS, ETH, XEM, HEAT, ARK, BTC, LTC, XVG, QTUM, QRL, NEO, OMG, STEEM, WAVES, XMR, USDT, SHIFT, SIGT, SBD.  I bought some alts fairly cheap and already starting to turn a profit, will be selling them off to put the profits back into BTC. Always love these little dips, depending on my trades I can make a nice 5-10% gain.



Edited by deadwk (09/05/17 05:09 AM)


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OfflinegeokillsA
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: deadwk] * 1
    #24605183 - 09/05/17 08:42 AM (6 years, 4 months ago)

Quote:

thedeadwalkk said:
Was wondering, what are you favourite trading indicators Geo? I've been mostly using Stochastic, with a weighted moving average and it seems to have been working quite well. Since I started using these new indicators, trading was on average 10-15% better.




Truth be told, I have never actively traded cryptocurrency, it has only served as a part of my long term asset allocation strategy.  I was a relatively early adopter of bitcoin (initial purchases @ ~$300-$400) and ether (@ ~$11-$40).  The first time I sold any, was very recently a good chunk of my BTC @ $3900 and $4350.  I find the crypto market to lack the liquidity that makes me comfortable actively trading, as on any given exchange I track, the short-term volatility can be off the chart and the technology underpinning the exchanges fairly unreliable during times of high volume trade.  If I don't feel confident that I can get into or out of a limit trade quickly (i.e. minimal spread and quick execution), active trading becomes too dangerous of a proposition for my capital.  Thus, I haven't much experimented with using indicators to analyze the price action of various cryptocurrencies.

In my stock trading, my charts generally include the following:
  • 20/50/200 day simple moving averages + 200 day exponential moving average
  • 8 period exponential moving average on intraday charts for short term analysis
  • 2nd & 3rd standard deviation bollinger bands in any timeframe
  • Volume Weighted Average Price on intraday charts
  • Hand drawn trendlines in any timeframe
  • MACD & ADX to help confirm potential pivots
  • All charts displayed as OHLC
  • Advance/Decline, Up-Volume/Down-Volume, & $TICK for intraday macro trend


In my experience, indicators are generally confirmatory rather than predictive.  So for the most part, all the information you need is contained in a simple graph of the price action.  The various studies and indicators are most useful in making what may be subtle (only noticed by the most trained eyes), more apparent.  Thus, I do not place complete faith in any indicator, although I do use them as an aid to confirm whatever thesis I have built for any given position.  I also believe that one of the most useful things to do is to regularly view any given price chart in various time frames, to best understand where short/intermediate/long term areas of support and resistance reside.  An example of the typical 4 square chart layout I use when analyzing stocks, including all of the aforementioned indicators:

   


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InvisibleStonehenge
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: deadwk] * 1
    #24605189 - 09/05/17 08:48 AM (6 years, 4 months ago)

TDW, the problems spoken of in your article are speculative. I see no reason why you would have to go through a bunch of other users to get to the one you want to trade with. You could make a smart contract directly with anyone you wish.


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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)

Trade list http://www.shroomery.org/forums/showflat.php/Number/18047755


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OfflineManianFHS
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: deadwk] * 1
    #24605253 - 09/05/17 09:27 AM (6 years, 4 months ago)

Thanks for the info!


--------------------
notapillow said: "you are going about this endeavor all wrong. clear your mind of useless fear and concern. buy the ticket, take the ride, and all that.... "

ChrisWho said: "It's all about the journey, not the destination."


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Invisibledeadwk
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: ManianFH] * 1
    #24606885 - 09/05/17 07:33 PM (6 years, 4 months ago)

Interesting selection of analysis tools! Yea I mostly use indicators as confirmational information sources. Finally got my last paycheck from my work so that's a sweet $10,000 to put into cryptos.

Bought 7 LTC, and 10 FCT for now. Will be picking up a BTC tomorrow as well. Debating whether or not to buy myself a XEM harvester node.


Edited by deadwk (09/06/17 12:40 AM)


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Invisibledeadwk
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: deadwk] * 1
    #24608819 - 09/06/17 01:52 PM (6 years, 4 months ago)

:likeaboss:

Love waking up to the market recovering! :smoking:
Got an interview for a job doing blockchain development for ConsenSys tomorrow which I've been busting my balls off to get and it pays in bitcoin :vibin:

Time to buy another monitor :rofl2:
https://www.amazon.ca/Acer-Predator-34-inch-UltraWide-Widescreen/dp/B01MZHK1SZ/ref=sr_1_3?ie=UTF8&qid=1504727462&sr=8-3&keywords=acer+predator+ultrawide


Edited by deadwk (09/06/17 01:59 PM)


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OfflineManianFHS
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: deadwk] * 1
    #24610350 - 09/06/17 11:15 PM (6 years, 4 months ago)

that is a sweet azz monitor!! Congrats on the gig man!


--------------------
notapillow said: "you are going about this endeavor all wrong. clear your mind of useless fear and concern. buy the ticket, take the ride, and all that.... "

ChrisWho said: "It's all about the journey, not the destination."


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OfflinegeokillsA
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills] * 1
    #24613317 - 09/08/17 09:16 AM (6 years, 4 months ago)

I was asked about my general opinion on BTC this morning, and figured I iterate my thoughts here as well:

Quote:

The chart is strong as death.  With an intermediate view time horizon, it looks like we'll probably bounce around between $4,000-$5,000 for a month or two.  Declining volume over the run from $2000 to present day heights on BTC is of some concern, as it indicates that support (in the sense of the average cost basis of the crowd) may be farther away from the current price than would be ideal.  That's why a sideways consolidation period between $4,000-$5,000 would be welcome, in my opinion, as the churn can help raise the average cost basis of participants and create a base from which to move higher.

It is worth noting that from a chart pattern perspective on the daily, we have built a left shoulder and a head, which could telegraph a potential head & shoulders pattern.  I don't like to use chart patterns as predictive gospel, but it is worth keeping an eye on as many technical traders do pay attention to that sort of thing.  If we complete a H&S by breaking meaningfully below $4,000 on a daily closing basis, I would suspect a fast decline to test the $3,000 level where, absent fundamental market negatives, buyers could be expected to step in.

Frankly, the weekly chart is the one that scares me the most.  It is more or less the definition of parabolic, and those types of moves have, historically, never ended well.  Of course, I always want to temper my fear with the idea that this is a new technological landscape, that bitcoin is inherently deflationary, and that big money is (likely with some reluctance) capitulating and adding some crypto to their asset allocation.  Climbing the "wall of worry" is what all markets do, they just don't typically climb as fast as BTC has... and looking around and seeing constant headlines about the 1000%+ gains in crypto on major news outlets like CNBC, as well as the seemingly never ending "to the moon" posts across related forum discussions and even in this slack channel, does make me cautious as it can lead to a period of irrational exuberance that will necessitate a market correction at some point.  That said, irrational exuberance can persist for some time and there are always two sides to risk... The risk of losing your capital as well as the risk of missing out on future gains.

Alas, my crystal ball is still in the shop, but those are my thoughts, for whatever they are worth.  Best of luck to all.





In other news, there is an Initial Coin Offering by Kik (for which you must pre-register at https://kin.kik.com/register within the next day to participate).  Kik is a leading global chat platform that boasts an existing monthly active user base of millions, as well as having implemented in-app faux-currency "kikpoints" with some success over the past years.  They are unique in that so many ICO's don't have a product to stand on and are built around nothing more than a proposal, yet these guys have a proven product that has done quite well (although has suffered some marginal decline in usage of late).  The valuation seems a bit high at a proposed $1.25 billion, whereby they aim to raise $125 million through the ICO and allocate 10% of their total Kin tokens to ICO participants.  For a decent overview on the proposal, check out the following analysis: Analysis of Kin ICO - Decentralized Ecosystem of Digital Services


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InvisibleStonehenge
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills] * 1
    #24613381 - 09/08/17 10:05 AM (6 years, 4 months ago)

I would be surprised if it went below 4k let alone hit 3k, lol. It is good to see it settle a bit rather than keep shooting straight up. A period of consolidation is always helpful and reduces the chance of a big drop.

We have to keep in mind that there are constantly new buyers in the market scooping up coin. Many of these are in other countries; china, japan, s korea are all eagerly getting into btc. Most of them will be buy and hold or buy to spend rather than scalpers or nervous investors with weak hands. Russia too along with uk are big on btc, more so than usa. Growth is invevitable.

I look at practical influences like those rather than some chart. Right now is a good time to get in, any time is good but after a pullback is even better. Those who wait for a big drop might have a long wait.


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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)

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OfflineSpencerPhillips
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Stonehenge] * 1
    #24613833 - 09/08/17 01:36 PM (6 years, 4 months ago)

You are all so deep on this crypto subject, makes me feel less welcome (for lack of knowledge) I'll continue lurking this thread though :smile:

Currently I'm mining ITNS it's not on any exchanges yet. I earn like 50 coins a day leaving laptop on 24/7.

Recently the site shut down a bunch of pools that were offered by 'other guys' for not being able to run a pool properly.


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InvisibleStonehenge
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: SpencerPhillips] * 1
    #24613905 - 09/08/17 01:58 PM (6 years, 4 months ago)

Word is that coinbase is down.


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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)

Trade list http://www.shroomery.org/forums/showflat.php/Number/18047755


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