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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: SirShroomsAlott]
#24980317 - 02/10/18 07:27 AM (5 years, 11 months ago) |
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i did Coinbase -> Binance -> toastwallet for my XRP and never had any issues. https://www.binance.com is always the link i go in to/out from.
two-factor auth and all that jazz
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SirShroomsAlott
Howdy



Registered: 05/15/14
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: memes]
#24980550 - 02/10/18 09:48 AM (5 years, 11 months ago) |
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^ regular link seems to be working now.
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geokills
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: ManianFH]
#24980771 - 02/10/18 10:51 AM (5 years, 11 months ago) |
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Quote:
mick said: How in the fuck has Binance not done a better job of communicating to people. First thing that happens when this shit is resolved is I get all funds off these exchanges and into wallets.
It's always a good idea to take any crypto you are not actively trading and store it locally, off-exchange, preferably in an encrypted hardware wallet and/or coded paper wallets. Of course, if you are actively trading this is not always feasible, and in such a case it is wise to distribute your holdings across multiple exchanges so you will not be victim to any single point of failure. That said, in my view Binance did an acceptable job of communication through it's CEO's twitter account while this mess was going down. The CEO has since recapped the entire oreal in detail to help us understand what exactly went wrong and how they approached it.
- Binance Incident Recap published 2/10/18 by Changpeng Zhao (CEO at Binance)
Binance Incident Recap Published on February 10, 2018 Changpeng Zhao CEO at Binance
I believe - in difficult times, one shows what they’re made of. How a person handles crises defines his character; how a company handles crises earns their credibility; and how a team handles crises determines their future.
Main Issue
On Thursday morning, one of our replica database clusters failed over from master to backup. This is most likely due to an unexpected hardware failure. 27 minutes later, the backup database cluster also had an issue and failed over again. Shortly after that, data inconsistency alarms were triggered. Upon investigation, it was confirmed there was indeed data corruption affecting 1.7% of users, and growing. The data was corrupted in a way that none of our existing tools could fix. New data generated based on top of this corrupted data would result in more corrupted data. To limit the spreading of data corruption, we had to do a full resync of the database clusters, as soon as possible. We estimated this would take several hours. It was a hard, but necessary decision. I gave the go ahead. We updated announcements and pushed it out on social media as quickly as we could, then started the resync.
The resync was complex due to our large architecture, with heavy optimizations for trading performance, and in-memory data structure rebuild. The full resync also involved a number of distinct phases, which made it hard to estimate the exact time it would take in total, until the last phase had started. It was only after we started the full resync did we discover that the sheer growth of data in the last month would prolong the time needed. Initial calculations puts the estimate at 10 hours. One of our team members threw up, literally. But the estimate was still off. As time progressed, the sync was slowing down, putting the estimate at 60+ hours. It was - not acceptable.
While the first resync was still progressing, two new methods were coded, tested to the extent possible, and under the time constraints we had - started in parallel. Both of them were indeed faster. One of them saved us a number of precious hours in the end. The process still took a long, long time. The short version is, the full team worked continuously for 34 hours, overcoming many difficulties, to bring the system back online as quickly as possible. And continued to work for many hours after trading was resumed.
There were a number of lessons learned (the hard way), and items were ticketed as post mortems for future implementation. They are being worked on, tested, and deployed as we speak, including nights and weekends. Some of them are architectural changes that require trading halts for deployment. We appreciate your understanding of this in the coming days. They will be quick.
Trouble Doesn’t Travel Alone (A Chinese Proverb)
While we were busy restoring our system, our support site hosted by ZenDesk became unreachable, limiting our ability to post announcements, at the precise time when we needed it the most. We believed this was due to a DDoS attack on their service. It was tricky to announce this, as the FUDers would certainly exploit the situation to create a lot more FUD. Having multiple issues / problems really creates doubt in people’s mind. We (always) choose to be front and center about it - just be direct.
Moreover, our home page, www.binance.com also came under heavy DDoS attack at the same time. This is a typical case of when you have a car with a broken window, all the burglars want a piece of it. Similar to people, how secure a system is, is often determined during crisis. Luckily, security has always been our top priority and the hackers wasted their time, effort and money to no avail.
Communication
We know how stressful it is for our users during a time like this. The best thing we could do while the engineers were working is to keep communications open. Throughout the incident, our teams maintained constant communication, with updates no less than every two hours. With ZenDesk down, we relied on Twitter and other social media channels. I sometimes complained about this, but now I appreciate there are so many social platforms out there. I only had the bandwidth to manage my own Twitter account. The team, including our Binance Angels (volunteers) managed the rest.
FUDer and Scammers
It was Christmas for FUDers. All kinds of conspiracy theories were dreamed up. Most of these guys were probably shorting the market at the same time. Well, it probably didn’t work out too well this time, as the market didn’t drop during our downtime and went up 20%+ right after our recovery.
There were many scammers. The latest fashion seems to be: use a profile photo from a well know person, create similar looking handle, then tweet a reply to all of our tweets saying “if you send me x ETH, we will send you 2x ETH back.” We must have reported 200+ of them. Twitter was quite quick to disable those accounts. However, it must have worked somehow because they keep spending their time doing it.
Financial Times (a smaller website than Coindesk now, by traffic analysis from Alexa) promptly carried an article about us, being down. Nevertheless, it was true. It also named us as the biggest exchange and brought a bit more of their traffic to us. Thanks!
The real helper was Mr. Mcafee, posting an obvious fake image about us being hacked. Everyone pitched in to help defend us. He united the community for us, and rallied such support, during a time when we needed it the most. Sometimes, things that look negative are actually positive. Looking at his previous posts, I now think he was completely innocent, but was just asking the wrong (or right, depending how you look at it) questions. I can understand he didn’t read my article about FUD, how innocent questions are the best carriers of FUD. Regardless, my thanks goes to Mr. Mcafee, I will buy him a drink if we ever meet.
Compensators
A few people asked for free BNBs as compensation. Those are probably the same people who were still not satisfied after we have given a 70% discount on future trading fees. Well, it shows they don’t trade much anyway. We thought about going 0 fee for a while, but that would not work well for people who referred users to us and are earning a rebate on all trades made by their referrals. There is a balance to everything. We have made the best decision we could.
Other items during the week
The stars must have been in some interesting alignment this week. I sat through, in front of my computer, 2 earthquakes in Taiwan of magnitude 6.0 and 5.7. Our hearts go out to the victims and people affected in Hualien City.
I somehow got on the front cover of Forbes, something I had never dreamed of. There were two articles about me. Unfortunately, the main article about me also said cryptocurrency is a bubble. So I choose not to tweet it (Sorry Pam, I am sure you can understand). Luckily, there was a 2nd article, which I did tweet. I was also shocked to see myself at rank 3. Even with the limited data I have, I know for a fact I am not. Don’t ask me who they are, I respect people’s choice of privacy.
My twitter followers increased 3 folds, from 30k in 6 months to 90k in the last 2 days.
Timing
The timing of this incident definitely wasn’t good, with the Coincheck incident still looming, people were still quite edgy. But we can’t control the things we can’t control. We just have to make the best of the situation we are put in.
Team
Our angels, tech, ops, marketing, helpdesk, and even HR teams did not sleep much. They worked closely together. There was no finger pointing - zero blame. Everyone just wanted to carry a bit more of the burden for each other. I did not ask anyone to work overtime (I never have). Everyone just did what was needed. It was surprisingly easy to organize internally. If the above sounds like fun, send your CV and location (city will do) to hr@binance.com. We are recruiting the best people for all positions, in an industry and company that has significant growth potential.
Community
Community is Binance’s strength. We are so fortunate to have such a strong community behind us. I would like to sincerely thank all of our supporters. Binance is a still a young platform. We have a lot of room to improve and grow. We have a long list of improvements we need to make, and will quickly make them in the coming days. Unfortunately, some of them do require trading halts system upgrades.
We appreciate your understanding and support!
CZ - Binance CEO
I still think Binance is one of the best exchanges out there, but do eagerly await the day that decentralized exchanges with atomic swaps come into their own.
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-------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
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memes
Blessed



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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills]
#24980840 - 02/10/18 10:58 AM (5 years, 11 months ago) |
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scooped a scmiedge more XRP this a.m. since yesterday's pop broke that shit ramp we've been on for the last 40 days
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ManianFH
living in perverty



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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills] 1
#24981062 - 02/10/18 11:23 AM (5 years, 11 months ago) |
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I dunno, would say im pretty good at hunting down info online when I need it, and the only place I could find about logging into binance was right here on the shroomery, via the us. subdomain. So naturally I do some reasearch on that and there is one single tweet by an 'unconfirmed' twitter account - albeit the CEO of binance, and 90% of users on forum threads saying not to log in to that subdomain. Furthermore, their site specifically states Only log into www.binance.com - and nothing else...
So conflicting information. I understand there are a lot of seasoned traders on here, but most crypto folk are probably not of that ilk. I feel like with hundreds of thousands of people locked out of their accounts, some official binance tweets/announcements and website updates/links would have been far more reasonable.
Guess its all over now. So yeah next step, wallet all these coins asap.
-------------------- 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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memes
Blessed



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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: ManianFH]
#24981196 - 02/10/18 11:30 AM (5 years, 11 months ago) |
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yah binance's site has always had those disclaimers about ONLY going to THEIR site and ALWYAS checking to make sure you're logging in to https://www.binance.com
all my shit stays in my wallet on my comp - fuck exchanges
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Stonehenge
Alt Center


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Posts: 14,850
Loc: S.E.
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: memes]
#24984036 - 02/10/18 07:38 PM (5 years, 11 months ago) |
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A number of airdrops are questionable if they even exist. For example, btcs bitcoin silver has no price anywhere but there are sites devoted to it and say its legit. Same thing for bci or bitcoin interest. Much heralded, still lots of sites saying its legit but no price data. BTD or diamond exists, you can trade them and each is worth around 111 right now. SBTC, another ghost, many others too.
I'm down on almost all my allts, up on a few but down overall. Unless you figure in the fall in price of btc. Since I bought trading for btc when btc was over 15k, and the same coin is worth a lot less now, I can see where I'm still well ahead provided they go back up when btc goes up. I'm still buying and trading btc, its where the money is and where it will be.
I can't really sell my losing alts because all I can do is trade for btc which might be better but does not get me cash.
-------------------- “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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mndfreeze 
Shroomery Secret Service




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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills]
#24984940 - 02/11/18 04:29 AM (5 years, 11 months ago) |
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Woah, Mcaffee did something GOOD for once? I find it hard to believe he somehow didn't take a payment and/or made money off it somehow lolol.
His heart is at least partially in the right place regarding crypto, but damn does he exploit his fame for dollars.
-------------------- Nothing says love like grannies prolapsed anus! quote]Urb said: I know... Its fucked up... Ill fix it minyana..[/quote]
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Enkidu
"No-Such-Person"


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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: mndfreeze]
#24993653 - 02/14/18 11:19 AM (5 years, 11 months ago) |
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What do you guys think about crypto?
Was thinking about trading some LTC i bought earlier that was cheaper than its current price with this recent spike, and picking up some alt coins...
-------------------- Within You , Without You
      
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mndfreeze 
Shroomery Secret Service




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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Enkidu]
#24997411 - 02/15/18 08:13 PM (5 years, 11 months ago) |
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Western Union Confirms XRP Integration of Ripple Blockchain Trial
Western Union has formally confirmed that its Ripple-based blockchain trial will include XRP integration, making the money transfer giant the largest firm to test XRP in its internal payment flows.
As CCN reported, Western Union confirmed rumors about the partnership on Wednesday. Details about the trial were slim, but it seemed unlikely that XRP was involved given that most of Ripple’s partners have connected to RippleNet, the company’s private enterprise blockchain.
However, Ripple later issued a statement to media outlets making it clear that Western Union will pilot Ripple’s xRapid product, which uses XRP to provide real-time liquidity and reduce the capital requirements necessary for financial institutions to operate in emerging markets.
“We’ve been testing different products with Western Union for a while,” Ripple said. “We’re excited about our work towards a pilot implementation of xRapid, which uses XRP in payment flows.”
Western Union CTO Sheri Rhodes told Yahoo Finance that the 167-year-old firm, which was first founded as a telegraph company, is interested in blockchain technology for a variety of reasons:
“We continue to explore possible blockchain applications for our business, and we are piloting some settlement tests with Ripple for certain corridors. For blockchain in general, we’re looking at areas such as transaction processing and settlement, working capital optimization, regulatory technology, and digital identity. We have a strong platform and system that work well today, but we continue to explore and test whether these technologies could potentially reduce costs and improve the customer experience,” Rhodes said.
Western Union is the fifth prominent firm to test xRapid, a product that has proved much less popular than Ripple’s enterprise blockchain, which has been trialed by more than 100 financial institutions located across the world.
That said, two of those five companies — Western Union and fellow money transfer giant MoneyGram — are among the biggest names in financial services, which will likely provide the nascent product with a strong vote of confidence as Ripple attempts to market it to commercial banks and other large firms.
-------------------- Nothing says love like grannies prolapsed anus! quote]Urb said: I know... Its fucked up... Ill fix it minyana..[/quote]
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geokills
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: mndfreeze] 2
#24997462 - 02/15/18 08:41 PM (5 years, 11 months ago) |
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Log in to view attachment
Nice news on XRP there freezie, I haven't bought any since I unloaded my original $0.17 bag, mostly in the mid-$2's. Might have to rethink sitting on a little stash again, but prefer to keep more powder dry for ICO opportunities that may present.
Anywho, just wanted to drop in to attach a copy of a 71-page report JPMorgan put out on crypto a week ago. For anyone appraised and active in the space, there's really nothing groundbreaking in it, except for the fact that it shows the banks are definitely taking the space seriously, and expect it to be around for quite a while.
One of the more interesting tidbits in there, in my view...Quote:
The opportunity set around direct CC trading seems relatively limited, due in large part to anti-money laundering (AML) and know your customer (KYC) concerns, but in the near- to medium term, business models will likely need to evolve around the cost benefits of technology, including distributed ledgers.
[...]
Asset managers are in the early stages of cryptocurrency product development. There has been limited success in bringing products to market thus far. A leading issue is acceptance of the underlying cryptocurrency products, which yet appear to have the support of either the SEC or major distributors. While the recent launch of futures trading on the CBOE and CME would seem to help the fund industry with both improved Bitcoin price transparency and trading liquidity concerns highlighted by the SEC, we have yet to see product approvals and a growing number of funds are withdrawing applications. Security concerns have mounted in Bitcoin exchanges as hackers have infiltrated a number of cryptocurrency exchanges, generating large losses. Thus, while there has been a lot of talk about cryptocurrency funds, at this point in time there is little assets under management invested globally in such products.
That type of commentary (in conjunction with the tact that JPM opted to produce this report for their private clients in the first place) seems to corroborate that there is a lot of money (private and institutional) that wants to get in on the space but has not been able to find a way to, in large part due to fiduciary and regulatory roadblocks. This in effect strengthens my belief that we are still in the nascent stages of this asset class, and it would be folly to dismiss its potential going forward, even as the gains we have already witnessed have been astronomical.
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-------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
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SirShroomsAlott
Howdy



Registered: 05/15/14
Posts: 6,945
Loc: United States
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills]
#24997511 - 02/15/18 09:11 PM (5 years, 11 months ago) |
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You think this market can grow? Don't let Koods see you say that.
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geokills
∙∙∙∙☼ º¿° ☼∙∙∙∙


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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: SirShroomsAlott] 5
#24997535 - 02/15/18 09:23 PM (5 years, 11 months ago) |
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Haha, I like koods, he's a smart guy, but even smart guys are wrong from time to time. It was actually a few of his comments in the Pub thread that inspired me to share the JPMorgan document.
--------------------
-------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
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mndfreeze 
Shroomery Secret Service




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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills]
#24997857 - 02/16/18 12:58 AM (5 years, 11 months ago) |
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I just had to do my damn yearly training for work for all that shit. The AML, KYC and about 10 other acronyms and training classes and courses. Such a pain in the ass hahah. Because of law every employee has to do em, even if we don't actually touch money or have any way of interfacing with money things. I get it, but still, annoying. 
Goldman Sachs had a good video pop up on my facebook feed last week that I meant to post in here but spaced it because I wasn't at home. They had a talk about blockchain with some expert or another about how its going to revolutionize so much of the world, etc. They also had a nice breakdown of how blockchain works, etc. I sent the link to my mom because she didn't understand it with my bad explanation They also talked about how young this market is and how much room for growth there was, and general innovation. It was a good video and I was suprised to see it come up from that company in that sort of light. It wasn't like an advertisement, but more like a knowledge base video you would give clients who are thinking about investing in a new tech. They also have other videos about new revolutionary sciences or ideas, breakthroughs and future outlook. Even some environmental sorta stuff.
-------------------- Nothing says love like grannies prolapsed anus! quote]Urb said: I know... Its fucked up... Ill fix it minyana..[/quote]
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Enkidu
"No-Such-Person"


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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills] 1
#24998502 - 02/16/18 10:36 AM (5 years, 11 months ago) |
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You don't have to buy a whole one.
You can exchange say 50$ for a fraction of a BTC if you wanted to.
-------------------- Within You , Without You
      
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PatrickKn


Registered: 07/10/11
Posts: 20,562
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills]
#25004538 - 02/18/18 08:58 PM (5 years, 11 months ago) |
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Anyone take part in the litecoin fork? I had 40 LTC at the ready for the fork, then moved it all into Ethereum following the fork to mitigate potential LTC dump afterwards. Appears most of the market took a 5-7% hit regardless, so it didn't make a huge difference that I moved it or not. Got 400 Litecoin Cash ready to be moved though. It appears to be selling around $2-3 per coin right now, I may wait a few weeks to feel it out though. If it hits $5 that's an easy $2000 in crypto.
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SirShroomsAlott
Howdy



Registered: 05/15/14
Posts: 6,945
Loc: United States
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: PatrickKn] 1
#25004547 - 02/18/18 09:02 PM (5 years, 11 months ago) |
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I fucked myself over, I tried to buy 4 the other day on coinbase and usually it's set on credit card for buys and this time it was set to buy from my bank account so I'm still waiting to receive them and can't benefit from the fork 
Hopefully it stays above $185 until I can trade them.
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mapleleafmarijuana
Archaeotek Magos



Registered: 03/08/12
Posts: 9,063
Loc: Alberta, Canada
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: SirShroomsAlott]
#25005106 - 02/19/18 08:21 AM (5 years, 11 months ago) |
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I have a little bitcoin now. should I maybe invest it elsewhere? or keep it there? it's not a ton.
can someone help a fool out?
-------------------- Vinegar Tom stay black cocksucker, thats the most important thing - joey coco diaz Flesh is Weak. All Hail the Machine God!
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Lophosaurus
suruasohpol


Registered: 08/09/07
Posts: 8,744
Loc: CA
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: mapleleafmarijuana] 1
#25005188 - 02/19/18 09:20 AM (5 years, 11 months ago) |
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I would leave it in BTC then put a little more into ADA. It depends what kind of risk and reward you want though
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mapleleafmarijuana
Archaeotek Magos


Registered: 03/08/12
Posts: 9,063
Loc: Alberta, Canada
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Lophosaurus]
#25005250 - 02/19/18 09:53 AM (5 years, 11 months ago) |
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I have like 100 cad investing power. where is the best place to buy them?
-------------------- Vinegar Tom stay black cocksucker, thats the most important thing - joey coco diaz Flesh is Weak. All Hail the Machine God!
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