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ManianFH
living in perverty



Registered: 07/06/04
Posts: 14,741
Last seen: 22 hours, 37 minutes
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Mush 4 Brains]
#24846819 - 12/14/17 10:33 PM (6 years, 1 month ago) |
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I thought they were only reporting transactions of 20k in a year... i am well under that and would really have no plans of reporting. Even though I am up on the year, I am probably breakeven throughout my lifetime of playing with cryptos..
ripple almost hit .90 before crashing to .65, back up in the .70s now. I bought in 2 days ago at .25
-------------------- 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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ApostleofAzathoth
lunatic wielding pressure cooker



Registered: 11/16/17
Posts: 697
Loc: Somewhere in the PNW
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: ManianFH]
#24846990 - 12/15/17 01:11 AM (6 years, 1 month ago) |
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So if I was to invest like $60 in crypto, in a few days, would this be worthwhile? Would spread this among 2-3 altcoins or just in one? What would be the best alt to invest in? I've heard good things about Ethereum. I also have heard good things about Litecoin but after the recent spike I wouldn't want to catch a falling knife. I've read that the software behind IOTA is extremely flawed so it probably wont last, but there is still so much hype around it that I expect it to keep going up for a while. This would be my first time buying crytpo currency so any advice would be helpful. I'm fairly tech savvy so no need to dumb anything down. I was planning on using Kraken as an exchange.
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trendal
J♠



Registered: 04/17/01
Posts: 20,815
Loc: Ontario, Canada
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: ApostleofAzathoth] 1
#24847403 - 12/15/17 08:59 AM (6 years, 1 month ago) |
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I've got myself set up on Binance, with the following cryptos:
BTC ETH EOS XRP
I also had to purchase some of their own coins, called "Binance (BNB)". They offer a pretty good exchange rate of just 0.5%, as long as you pay the fees in BNB.
Also, it appears that most of their cryptos are only available in whole numbers, no fractions. So if you end up with less than 1 of a crypto...you are more or less stuck with it (I think you can just withdraw it, but not trade with it). This is were the BNB is key: I bought 6 EOS, but was left with 5.994 after fees, and then couldn't trade the .994 because I couldn't enter it (solution was to go EOS->ETC->BTC, which worked, thankfully). If you have BNB in your account and have it set to take fees from it, this won't happen!
So MAKE SURE you buy at least 1 BNB before you trade with Binance
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Once, men turned their thinking over to machines in the hope that this would set them free. But that only permitted other men with machines to enslave them.
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LogicaL Chaos
Ascension Energy & Alien UFOs




Registered: 05/12/07
Posts: 69,325
Loc: The Inexpressible...
Last seen: 30 minutes, 59 seconds
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: ApostleofAzathoth]
#24847650 - 12/15/17 11:25 AM (6 years, 1 month ago) |
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I would spread over just 3 cryptos if I were you. Its not a lot, wouldnt go under $20. Thats just me.
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Spiderbaby
?



Registered: 08/20/06
Posts: 1,439
Loc: Ireland
Last seen: 3 years, 10 months
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: trendal] 1
#24847654 - 12/15/17 11:29 AM (6 years, 1 month ago) |
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Haven't been around the shroomery in a good while but great to see this thread, well the whole Money Matters forum. I'll deffo be browsing regularly.
I bought into BTC a few months back during a dip, 200 euro investment, through natural appreciation and day trading activities I've turned it into 1200 euros with minimal effort. Seeing BTC trading sideways to the euro the last week or so and the looming threat of a pullback had me cash out.
I've returned my initial investment so now my trading account of about 1k is pure profit to play with. Bought some Etherium, Ripple (long term) and a while ago threw some money into IOTA (also long term).
I'm less interested in holding large positions of crypto assets for a long time and prefer the day trading aspect.
How do you guys look at it? Buy and hold or anybody day trade?
Edit: In my early days of using trading platforms I made some mistakes but was only trading tiny volumes so my losses on day positions to date are less than 15 euros. I took a break, did a lot of reading and watching the markets, once I knew how to properly use the platforms, charting tools, understand trendlines, use fibonacci retracement etc it all came together. That being said I'm acutely aware that it could all turn against me but hey whatever I lose I never had in the first place so
Edited by Spiderbaby (12/15/17 11:42 AM)
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Asante
Mage


Registered: 02/06/02
Posts: 86,795
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Spiderbaby]
#24847697 - 12/15/17 11:50 AM (6 years, 1 month ago) |
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A crypto nobody talks about - today I picked up a bit of Reddcoin (REDD), the social media penny crypto, in anticipation that in the coming days it will continue the climb its been on, after which I sell off enough to take my investment back and keep the remainder for longterm storage, cause I anticipate this one might make me proud in the future.
Reddcoin is basically a social media coin so when cryptos get more mainstream I expect a social media hype and sudden upswing. This is one that you can get at about 625 coins for a dollar now so there's no psychological barriers anywhere in sight if it does hype.
625 coins for a buck... Not something to go all out in, but for a token sum, I wouldnt miss out on it.
-------------------- Omnicyclion.org higher knowledge starts here
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Mush 4 Brains
about tree fiddy


Registered: 12/19/07
Posts: 8,298
Loc: Tacos
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Asante]
#24848068 - 12/15/17 02:41 PM (6 years, 1 month ago) |
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What do you guys like to use just to check the markets out/coins you're interested in? Apps, sites etc...
Everyone is trying to predict what the market is going to do. Wouldn't it be more predicting what people are going to do? The herd mentality, fear & greed blah blah
I bought litecoin at $100 sometime last week because I believed it would certainly go up durring this crypto boom...
Newbies like myself, starting at coinbase. Looking at the three options and thinking, hey bitcoin is super high in price, I'll buy some litecoin instead.
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geokills
∙∙∙∙☼ º¿° ☼∙∙∙∙


Registered: 05/08/01
Posts: 23,417
Loc: city of angels
Last seen: 6 hours, 25 minutes
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Mush 4 Brains] 2
#24848128 - 12/15/17 03:09 PM (6 years, 1 month ago) |
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Quote:
Mush 4 Brains said: What do you guys like to use just to check the markets out/coins you're interested in? Apps, sites etc...
For trading and finding entries, I will check https://coinmarketcap.com/all/views/all/ daily, paying particular attention to discrepancies between the hourly, daily and weekly return percentages. I'll often start by sorting the list by hourly-% move. Generally, if something is moving higher in the short term (hourly and/or daily) but hasn't made a large move over the past week, it will catch my interest as this could indicate the early stages of a longer term trend. The next step is to validate trading volume. If an issue shows a big move, it better be doing it on respectable volume or I won't be interested. What is respectable volume? I would say at least several hundred thousand dollars over the past 24 hours, but preferably into the millions (especially if the move is unusually large, which in this sector I would quantify as >20% within 24 hours). On that note, sometimes I'll just sort the list by volume to begin with and scroll down to see if any of the % movers catch my eye. Once an issue looks intriguing, I will click the "Markets" tab to figure out where it is being traded. If it's on an exchange I use, I'll head over there and use the platform's charting tools to further analyze the issue.
Here's a great charting website you can use without being an exchange member (it's actually the one Kraken is incorporating in the launch of their new platform within the coming days): https://cryptowat.ch/
https://icostats.com/ is an intriguing website to check out from time to time as well, in efforts to get an idea of which projects are attracting additional interest beyond their initial hype.
Quote:
Newbies like myself, starting at coinbase. Looking at the three options and thinking, hey bitcoin is super high in price, I'll buy some litecoin instead.
This dynamic is well understood, and one of the reasons I believe issues like ADA and XRP are getting bid up. If these low nominal value coins find their way onto Coinbase, it seems likely that crypto no0bs will want to soak them up. For those with a more discerning palate, who wish to become informed investors, it is worthwhile to compare the aggregate supply of an issue to the nominal unit price of the issue you are interested in, to get an idea of its relative value as well as its potential future gains.
Let's take Cardano (ADA) as an example...
The Cardano project leaders are awesome, one of the original founders and initial CEO of Ethereum, Charles Hoskinson, and another influential early Ethereum dev Jeremy Wood, with a concentration of project dev's from major research institutions around the world. The suggestion has been made that Bitcoin could be considered blockchain version 1.0, Ethereum as 2.0, and the goal for Cardano being v3.0; Focusing on scalability, interoperability with side chains, treasury systems and on-chain governance. If this team keeps their heads down and can deliver solutions to these problems, it's not difficult to imagine them becoming the dominant blockchain platform.
So what does that mean for the potential price appreciation of their coin? In this case, the float on the ADA coin is huge. 26 billion circulating with up to 45 billion max supply (these numbers are available for almost every coin on CoinMarketCap). So, you can't really expect it to get anywhere near the nominal $-value of something like Bitcoin, the current market leader, which has a max supply of 21 million. With some simple math [(21,000,000/45,000,000,000)*$17,500], we can calculate that ADA's theoretical equivalent value, relative to today's BTC price, would be around $8. Now it's no sure thing Cardano will succeed in the way that Bitcoin has, and even if they do, there will be more competitors on the scene and thus unlikely that ADA will receive the same "first mover" advantage of attracting money almost by default, that Bitcoin has enjoyed. Nevertheless, this is a nice way to give yourself some idea of where ADA's nominal value could go in the future.
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-------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
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geokills
∙∙∙∙☼ º¿° ☼∙∙∙∙


Registered: 05/08/01
Posts: 23,417
Loc: city of angels
Last seen: 6 hours, 25 minutes
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Spiderbaby] 2
#24848151 - 12/15/17 03:26 PM (6 years, 1 month ago) |
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Quote:
Spiderbaby said: I'm less interested in holding large positions of crypto assets for a long time and prefer the day trading aspect.
How do you guys look at it? Buy and hold or anybody day trade?
The crypto sector is obviously getting a lot of mainstream attention right now, which is leading to incredible positive momentum. This is a scenario that lends itself to taking both a long term and a short-term view. Surely, the reason this space is gaining so much attention is because it is a new technological paradigm that clearly works to solve some important problems pertaining to trust/counterparty risk, efficiency as well as regulatory manipulation (with thousands of potential follow-on benefits). For this reason, I think it makes sense to take a long-term approach on at least a part of your investments. I'm not saying that it's right to expect the type of return we've seen from BTC, but there are a lot of neat projects out there that have and could see some serious growth. Of course, the whole shithouse could go up in smoke, but if this sector does disrupt the traditional financial ecosystem that our governments around the globe have relied on for the entirety of our modern history as a human society, this could rightfully be considered early innings. That said, there are still opportunities for short term trades as well (some of the methods which I touched on in my previous post).
To people who ask me how much to buy, or when they should sell, I always tell them that they need to answer two questions.- What is your timeframe?
- What is your "I'm wrong" level (directly related to how much money you can tolerate losing, i.e., risk tolerance)?
You have to manage your risk, which can be done by:- 1) Position Sizing: Buy less if you think you're chasing an issue that has already appreciated rapidly in value, and have a plan to average down closer to your ideal purchase price.
- 2) Stop Losses: Identify your "I'm Wrong" levels and make sure you set a sell stop below that level, so that if that price is violated, you don't convince yourself that "you'll just hold through this storm" and then watch your investment go down another 50% or whatever.
If you're buying something too far away from your "I'm Wrong" level, that's where position sizing becomes most important. By appropriately sizing position and setting your "I'm Wrong" sell stop, you will know with a good degree of confidence what you are risking in real dollar terms on your trade, and you will be comfortable with that risk. Hint: If you aren't comfortable with that risk, buy less or set your bid lower in hopes that it gets hit at a later time once the market froth has settled down. There are of course instances where you don't need to set a sell stop. If you know with 100% certainty that you have a very long time horizon because you want exposure to the asset over a course of years, not months or weeks, and you also don't invest more than you are comfortable losing, then you can safely ride the swings without breaking a sweat, even if it goes all the way to $0.
I kept my bitcoin off exchange for years, not only because of the memory of Mt Gox, but because I didn't want to be tempted to panic sell. I had a multi-year time horizon. Now with all the neat alts popping up, I have moved my BTC to exchanges in order to diversify.
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-------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
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Mush 4 Brains
about tree fiddy


Registered: 12/19/07
Posts: 8,298
Loc: Tacos
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills]
#24848873 - 12/15/17 10:38 PM (6 years, 1 month ago) |
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Wow, incredibly insightful as always
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geokills
∙∙∙∙☼ º¿° ☼∙∙∙∙


Registered: 05/08/01
Posts: 23,417
Loc: city of angels
Last seen: 6 hours, 25 minutes
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Mush 4 Brains]
#24849539 - 12/16/17 09:53 AM (6 years, 1 month ago) |
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Thanks M4B, being able to clearly share my thoughts and strategies helps me refine them, so I appreciate the inquiries as taking the time to thoughtfully respond to them can bring awareness to areas where I may need to improve my own discipline. 
On that note, for anyone interested in trying some short-term trading, WABI has been behaving very well since being issued on exchange just a few days ago. The project itself is not without merit, as they already have functional RFID hardware integrated with their blockchain via mobile applications for real world use (Read about it here). But it is worth noting that ICO investors have already achieved a 7x ROI, and pre-ico investors more than 70x (although only $300,000 USD was raised in the pre-ico stage so supply from those investors should be limited). That being said, the issue is behaving well, having doubled in the last 24 hours and showing signs of a bull flag that could propel value higher still on a short term basis. Trading WABI/ETH, presently at 0.0025 ETH, stops should be placed at 0.0023, with a continuation signal above 0.00269.
Honorable mention, Cardano (ADA) continues to trade well. And of course, BTC, now pushing $19,000.
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-------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
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Asante
Mage


Registered: 02/06/02
Posts: 86,795
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Asante]
#24849566 - 12/16/17 10:10 AM (6 years, 1 month ago) |
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Quote:
Asante said YESTERDAY: A crypto nobody talks about - today I picked up a bit of Reddcoin (REDD), the social media penny crypto, in anticipation that in the coming days it will continue the climb its been on, after which I sell off enough to take my investment back and keep the remainder for longterm storage, cause I anticipate this one might make me proud in the future.
Reddcoin is basically a social media coin so when cryptos get more mainstream I expect a social media hype and sudden upswing. This is one that you can get at about 625 coins for a dollar now so there's no psychological barriers anywhere in sight if it does hype.
625 coins for a buck... Not something to go all out in, but for a token sum, I wouldnt miss out on it.
Yesterday I picked up Reddcoin (RDD) (basically a "social media coin") I picked up Crown (CRW) (Look into that one) and ArtByte (ABY) (an artists community currency).
I didnt mention the latter two here, but elsewhere I believe I did. These were intended as shortterm quick money grabs before the holidays 
Today the HO HO HO is starting to happen, have a look (Priced in Euro = $1.18, period = most recent 30 days & below ann outline of the year)



Look out SpaceX, Crown seems to chomp at the bit to go vertical. (just an impression tho)
If anyone especially Geokills sees something horribly wrong with these by all means let us learn!
-------------------- Omnicyclion.org higher knowledge starts here
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Asante
Mage


Registered: 02/06/02
Posts: 86,795
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Asante]
#24849570 - 12/16/17 10:14 AM (6 years, 1 month ago) |
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And Geo its pure community service, your expert posts on investing, I can tell you I for une scrutinize every letter. Please keep making em
-------------------- Omnicyclion.org higher knowledge starts here
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trendal
J♠



Registered: 04/17/01
Posts: 20,815
Loc: Ontario, Canada
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills]
#24849605 - 12/16/17 10:40 AM (6 years, 1 month ago) |
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Thanks for the tip! Got in around 0.00259, and it's already up to 0.0029!
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Once, men turned their thinking over to machines in the hope that this would set them free. But that only permitted other men with machines to enslave them.
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HamHead
Hard Ass Motherfucker



Registered: 03/17/15
Posts: 6,107
Loc: Galactic sector ZZ9 Plura...
Last seen: 2 years, 8 months
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Asante]
#24849624 - 12/16/17 10:49 AM (6 years, 1 month ago) |
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I'm on that ADA train, many thanks to Geo!
I got in at around .13c, followed Asantes investment guidelines and took out 10% when it doubled recently. 
Sold my Funfair for a small profit and dumped it into ADA at around .27c.
I've got some NEM as well, at around .54c, glad to see its doing well as well.
Thanks for the great info eryone!
-------------------- The Italian researchers’ findings, published by the INT’s scientific magazine Tumori Journal, show 11.6% of 959 healthy volunteers enrolled in a lung cancer screening trial between September 2019 and March 2020 had developed coronavirus antibodies well before February. https://www.reuters.com/article/us-health-coronavirus-italy-timing-idUSKBN27V0KF This online first version has been peer-reviewed, accepted and edited, but not formatted and finalized with corrections from authors and proofreaders https://www.icandecide.org/
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Asante
Mage


Registered: 02/06/02
Posts: 86,795
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: HamHead]
#24849913 - 12/16/17 01:28 PM (6 years, 1 month ago) |
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Sorry to be such a dick guys but, this is Your Brain on Crypto:

Any questions?
-------------------- Omnicyclion.org higher knowledge starts here
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Stonehenge
Alt Center


Registered: 06/20/04
Posts: 14,850
Loc: S.E.
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Asante]
#24850282 - 12/16/17 05:06 PM (6 years, 1 month ago) |
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A new air drop coin has come out, sbtc or super bitcoin. I didn't even know I owned it until I saw it on binance. Its worth around $250 already. Its supposed to make bitcoin great again. You got 1 for 1.
Another one recently airdropped is bcx, its only worth a few satoshis but you get 1000 for each btc you had, apparently. That means you got just under a mbtc for each btc or about maybe 16 bucks. But its free coin
We also have bch, a btc fork coin which is worth now around 1700 or 1800, bitcoin diamond or bcd worth about 43, and bitcoin gold btg worth 296 all airdrops 1 - 1. Upcoming are some more. Don't ask me how to extract those coins, I'm still struggling to get my bch even though I know the procedure.
I'm now down some 7k on my iota investment compared to how I would be if I didn't buy it. Oh well, win some lose some, win in the end. Btc surged over 19k today as we all know. Those bonus coins are nice. You can get into alts without buying any.
-------------------- “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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Enkidu
"No-Such-Person"


Registered: 07/09/16
Posts: 10,698
Last seen: 6 months, 10 days
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Stonehenge]
#24850955 - 12/17/17 12:12 AM (6 years, 1 month ago) |
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Anyone Have XRP ?
Or XLM ?
Or ICN ?
Or have any opinion on them or information ?
-------------------- Within You , Without You
      
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Errl_Shmirl
New Kid On The Block



Registered: 03/25/17
Posts: 263
Loc: Southern Plains
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Enkidu]
#24850964 - 12/17/17 12:20 AM (6 years, 1 month ago) |
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I sold my Bitcoin stock and made out pretty decent. I'm thinking Litcoin is going to be the next thing. I think the Etherium name won't catch on and Litecoin will close in as 2nd. People are dumb lol it's catchy like Bitcoin.
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Enkidu
"No-Such-Person"


Registered: 07/09/16
Posts: 10,698
Last seen: 6 months, 10 days
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Errl_Shmirl]
#24850975 - 12/17/17 12:30 AM (6 years, 1 month ago) |
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Yeah I bought 1 litecoin at $30 a couple months back or so. Whenever it was $30 and was shocked when it shot to $300.
I think bit, eth, and lite will all continue to grow in the next couple years as well as other alt coins as they compete for that 4th spot.
-------------------- Within You , Without You
      
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