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Offlineencryptor
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: LogicaL Chaos]
    #25020347 - 02/25/18 09:36 AM (5 years, 10 months ago)

It suggested using a qr code (coded box) received from 3rd party app (authenticator) for any transaction.


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InvisibleLophosaurus
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: encryptor]
    #25020463 - 02/25/18 10:28 AM (5 years, 10 months ago)

I use google authentication. Mostly because I use Coinigy and I need it for that. Does anybody else use coinigy or do use use something else? My free trial is about to run out and I need to know if I should try something else or pay for coinigy


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OfflinegeokillsA
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: encryptor]
    #25020557 - 02/25/18 11:07 AM (5 years, 10 months ago)

encryptor, if you are trading with a significant amount of capital in your accounts, using two factor authentication over your cell phone is good, but Google Authenticator does offer an added layer of security and I would recommend using it.  I do.

Regarding Coinigy, it's a solid product.  I don't presently use it as I don't trade very actively.  I typically leave charts of XBT, ETH and XMR streaming on a monitor 24/7 from my Kraken account for a quick overview of the markets, and check in via my mobile iOS device in the HODL app where I have added a more extensive basket of currencies.  If you trade often and want the convenience of a consolidated platform with good charting, Coinigy is great.  I just don't find it personally necessary for managing my own portfolio at this time because I am not executing a high volume of trades with great frequency.


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InvisibleLophosaurus
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills]
    #25020586 - 02/25/18 11:18 AM (5 years, 10 months ago)

Geo, sorry if I already asked you this, what do you think about trading bots? I don't know anything about them really. Let's say you plan to hold 1,000 XMR for a year. If you bot traded it for that year you would get more bang for your buck right? Or are they not completely reliable?


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InvisibleStonehenge
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Lophosaurus]
    #25020797 - 02/25/18 12:48 PM (5 years, 10 months ago)

Getting back to registered investors, I do not see the advantage for the investor to go through the process. It removes privacy completely for one thing. Sure the sellers would like to have buyers go through a virtual strip search but they don't need that. Fuck em. What advantage does it give the investor? None that I can see and plenty of potential disadvantages. The ico can privately vet their buyers, if someone has the 5k 30k or however much it takes, what difference does it make what their income or assets may be?

You don't have to go through that when buying anything else for cash even for real estate. Unless you are applying for a loan I see no reason to do it. I've bought multiple properties and never once was asked for a tax return. Nor do I ask it when I sell. Why would a crypto with no established value need more? Just say no


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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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OfflinegeokillsA
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Stonehenge]
    #25021184 - 02/25/18 03:34 PM (5 years, 10 months ago)

Quote:

Lophosaurus said:
Geo, sorry if I already asked you this, what do you think about trading bots? I don't know anything about them really. Let's say you plan to hold 1,000 XMR for a year. If you bot traded it for that year you would get more bang for your buck right? Or are they not completely reliable?




I have never used a trading bot nor would I trust one.  I might sing a different tune if I were a quant programmer, but I'm not, I'm just a regular guy with a thirst for success.  Not a computer scientist and not an algorithmic programmer, and I surely wouldn't trust someone else's program with my money.  Your mileage, of course, may vary. :tongue2:

Quote:

Stonehenge said:
Getting back to registered investors, I do not see the advantage for the investor to go through the process. It removes privacy completely for one thing. Sure the sellers would like to have buyers go through a virtual strip search but they don't need that. Fuck em. What advantage does it give the investor? None that I can see and plenty of potential disadvantages. The ico can privately vet their buyers, if someone has the 5k 30k or however much it takes, what difference does it make what their income or assets may be?

You don't have to go through that when buying anything else for cash even for real estate.




It has to do with the SEC stepping up their game on regulation.  They have already gone after a few outright scam ICO's, which is not a bad thing.  They don't want to squash the market, but they also want to make sure consumers are not outright taken advantage of, which is their charter after all.  Rather than risk an SEC injunction, well organized ICO's are doing what they can to adhere to what little guidance has been issued on the matter.  Namely, attempting to adhere to AML/KYC regulations at a minimum, and in the event that their ICO token could reasonably be construed as a security (which almost all of them could be honestly), they are following Reg D capital raise guidelines, restricting their offering to accredited investors only, in order to avoid the additional red tape that would be required for a "by the book" registered security public offering.

Why would you as an investor go through the trouble to comply with these at times cumbersome requirements?  Well if you think the project has legs, your most favorable entry will be on an early offering round, and there is simply no other way to participate (unless you have a friend who has gone "by the book" and is willing to split their allocation with you).  So it's really just a matter of how deeply you want to play things as a venture capitalist.  If you want the best deals, you often have to give up some privacy and follow some rules.  By no means in doing so, are you guaranteed success.  Plenty of Reg D offerings end up failing, as with any new business venture... but it's just one of those things that we see happening in this space.  A new sector that has operated for years without regulatory authority, has started to attract vast amounts of capital (which is why those of us who got in early are doing so well), and with that increased capital comes increased scrutiny, such that any new offering will want to be on the right side of the regulators, in order to ensure that they can see their project to fruition without costly legal consequence.


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··∙   long live the shroomery  ∙··
...π╥ ╥π...


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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills]
    #25021247 - 02/25/18 04:04 PM (5 years, 10 months ago)

So out of an abundance of caution they are doing all this? Just in case the sec decides they are offering securities? That is probably why many will not sell to usa citizens. I don't see how a coin that has no guaranteed value and does not represent ownership in anything is a security. Debts can be securities but they promise to pay money, coin does not. Coins do not pay any interest or dividends, except for one or two perhaps. Store coupons offer a savings which is worth money but never are securities.

>well organized ICO's are doing what they can to adhere to what little guidance has been issued on the matter.  Namely, attempting to adhere to AML/KYC regulations at a minimum

That makes sense since they are financial institutions of a sort. They are handling money but since btc and alts have been declared to be personal property, they are no more securities than a gold coin or plot of land. People should not cave in out of fear when there is no precedent. If and when they try to declare them securities, then it can be fought in court or comply. They can't prosecute for things in the past which were not crimes or forbidden at the time

I do not buy icos or haven't yet. Its so hard to tell if they are scams or not and even scams have made money for people. Now days you are competing with loads of other investors many of whom have inside info. If its a great deal why would they give it to joe sixpack who wants in? I'm content to wait till I see what a coin is doing before deciding to invest or not.


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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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Offlineencryptor
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Stonehenge]
    #25021370 - 02/25/18 05:08 PM (5 years, 10 months ago)

I see on gdax the opportunity to buy lite coin, ether, bitcoin cash, and bitcoin.  Where can I get monero and polymath?  Sounds like I’ll need 2 trading platforms.


Edited by encryptor (02/25/18 05:08 PM)


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InvisiblePatrickKn
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: encryptor]
    #25021374 - 02/25/18 05:09 PM (5 years, 10 months ago)

Polymath is going to available on the polymath exchange. Monero you can get from most exchanges.


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InvisibleStonehenge
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: PatrickKn]
    #25021410 - 02/25/18 05:21 PM (5 years, 10 months ago)

I tried to get someone to send me monero to my binance account. There was a long code for the address then another code they said had to be used. The sender was unable to send, he sent but never arrived, we just did a few bucks to test and it apparently got lost. To hell with that.


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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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OfflinegeokillsA
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: encryptor]
    #25021507 - 02/25/18 05:54 PM (5 years, 10 months ago)

Quote:

encryptor said:
I see on gdax the opportunity to buy lite coin, ether, bitcoin cash, and bitcoin.  Where can I get monero and polymath?  Sounds like I’ll need 2 trading platforms.




I pick up my Monero (XMR) on Kraken with USD, but you can pick it up via a BTC or ETH trading pair on several exchanges as PatrickKn noted.  You can get Polymath (POLY) through KuCoin and IDEX via ETH trading pairs, the latter of which is a decentralized exchange for ERC20 tokens, and while the volume is thin, it's pretty neat (but it will take a bit more legwork to get used to using as you need to deposit your funds from your own ETH wallet such as MetaMask into their contract wallet in order to trade).


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··∙   long live the shroomery  ∙··
...π╥ ╥π...


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Offlineencryptor
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills]
    #25022428 - 02/26/18 03:25 AM (5 years, 10 months ago)

I’ll look into these mentioned exchanges.  It all sounds pretty complex, so I wonder how it will ever become mainstream.  However, I think crypto currencies have come too far to be dropped now.


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Invisiblememes
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: encryptor]
    #25024146 - 02/26/18 02:59 PM (5 years, 10 months ago)

Quote:

encryptor said:
It all sounds pretty complex, so I wonder how it will ever become mainstream.




someone will figure out how to make it fool-proof, and will collect a nice fee for doing so (see also: Coinbase's phone app)


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OfflinegeokillsA
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: memes]
    #25024959 - 02/26/18 09:07 PM (5 years, 10 months ago)

Interestingly, a well funded payments startup, Circle, just purchased Poloniex, one of the top 20 crypto exchanges.  Circle has venture backing from Goldman Sachs, and an unconfirmed internal slide regarding the purchase seems to indicate that they have fairly big plans in building out the platform for regulatory compliant mainstream use.



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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills]
    #25026039 - 02/27/18 10:42 AM (5 years, 10 months ago)

Circle has been around for years, if its the same circle, they quit trading coin a while back but something must have changed. This to me is a signal that coin is going up, the insiders know it and are positioning themselves to profit.


--------------------
“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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InvisibleLophosaurus
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Stonehenge]
    #25027239 - 02/27/18 07:55 PM (5 years, 10 months ago)

We're definitely going up. Banks are getting scared and governments/corporations are trying to get in on this. BTC finally broke the trend and we're in the 5th wave. Then the correction and then we'll be back on fire!


Koods is going to be so sad


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Invisiblebrk
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Lophosaurus]
    #25027287 - 02/27/18 08:18 PM (5 years, 10 months ago)

If anyones interested, there's a coin available on poloniex called riecoin (ric). Now for all intents and purposes It's a shitcoin, but it's doubled my btc twice now. Check out its chart and you'll see what I mean. It peaks quickly over a week or two, then drops back to base line. If you aren't greedy this coin has potential to double you're money once every month or so.

It's on the way back down at the moment and I've set a buy for .000016 btc. If it hits the mark I'll set a sell for .000032 a cross my fingers for a third time....


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"To the young it gives a vision of the dead and gone. While the old receive a passion to survive,
and the pattern picks the pockets of the palindrome, before the oscillating rhythm takes to flight..." - Rishloo



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Offlineencryptor
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Lophosaurus]
    #25027309 - 02/27/18 08:26 PM (5 years, 10 months ago)

If government gets into regulating crypto currencies by means of taxes, doesn’t that defeat the purpose of crypto currencies, such that, you’re avoiding government taxes and documentation?  Some countries don’t have access to a charles schwab down the street, so to access USD they do it thru crypto currencies.  If government finds a way to tax crypto people will either invest because they have trust in it OR walk away.


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InvisibleLophosaurus
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: encryptor]
    #25027360 - 02/27/18 08:48 PM (5 years, 10 months ago)

They have taxed crypto already. It dropped and now it is on the rise. Taxes suck, but they are necessary. We need bridges, roads, police... Regulation is a good thing.

I meant more that governments are making their own coins and realizing that crypto can be useful to them


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Offlineencryptor
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Lophosaurus]
    #25027941 - 02/28/18 04:49 AM (5 years, 10 months ago)

I heard when India had to exchange their money for new currencies at the bank, those who earned black market money dropped it into bitcoin.  This sounds like I’m supporting corruption if i buy into it.


Edited by encryptor (02/28/18 04:50 AM)


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