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The Fearsome and Mammoth CRYPTOCURRENCY Thread!

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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby gonzochicago on Wed Dec 13, 2017 9:44 am

BASED SAVIOR, Request Network is like a literal money printing machine.

Is this a dream? Even if it somehow crashed 100% I'd still be 150% up on my main stack.

Sure, this is nothing to Tom's IOTA run, but holy hell. Request Network is literally only beginning.

....are....are we really gonna make it?

:smt007 :smt007 :smt007 :smt007
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby Major on Wed Dec 13, 2017 11:47 am

Major wrote:Logged in to my Binance account to discover I now own SUPER BITCOIN. Guess there was another fork today. Currently worthless.


I checked today and now I also own "BitcoinX". Also worthless, but as soon as either one of these are available to exchange, I will do so.
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby blackmarket on Wed Dec 13, 2017 12:19 pm

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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby gonzochicago on Wed Dec 13, 2017 1:22 pm

ImageScreen Shot 2017-12-14 at 2.20.56 AM by John Yingling, on Flickr

This is so goddamn beautiful.

The fucking news hasn't even dropped yet.

Guess I'll be out of debt quicker than I expected.

Congrats, again Tom & Major! How's that lake-house looking, Tom? :P :smt006
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby warmowski on Wed Dec 13, 2017 3:56 pm

While I hold none of this stuff, I think that's changing because I've been commissioned to write an article on the mechanical aspects of the crypto phenomenon for a trade magazine in a sleepy corner of the financial industry.

While researching, I found that someone has hilariously used the ICO craze to sell worthless-on-the-face ethereum tokens. Not just offer: sell.

https://uetoken.com/

The site states repeatedly that the tokens have no value, are useless, and that nobody should buy them.

site owner wrote:You're going to give some random person on the internet money, and they're going to take it and go buy stuff with it. Probably electronics, to be honest. Maybe even a big-screen television.

Seriously, don't buy these tokens.


The first transaction in these useless tokens was about five months ago.

In that time, it appears $200,000 worth have been sold. As his own site states "Enough to buy 169 televisions!"

-r
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby gonzochicago on Wed Dec 13, 2017 7:57 pm

warmowski wrote:While I hold none of this stuff, I think that's changing because I've been commissioned to write an article on the mechanical aspects of the crypto phenomenon for a trade magazine in a sleepy corner of the financial industry.

While researching, I found that someone has hilariously used the ICO craze to sell worthless-on-the-face ethereum tokens. Not just offer: sell.

https://uetoken.com/

The site states repeatedly that the tokens have no value, are useless, and that nobody should buy them.

site owner wrote:You're going to give some random person on the internet money, and they're going to take it and go buy stuff with it. Probably electronics, to be honest. Maybe even a big-screen television.

Seriously, don't buy these tokens.


The first transaction in these useless tokens was about five months ago.

In that time, it appears $200,000 worth have been sold. As his own site states "Enough to buy 169 televisions!"

-r


Ha! How have I not seen this. Amazing. Indeed, a good satire, and much truth to it. 90% of ERC20 tokens hold no utility VS. what the project actually does. The thing is though, it's both quite easy to find the ones that eventually, supposedly will (REQ), or the ones that can and will turn into their own entity off the ERC20 chain (something like EOS or CIVIC). You should include that in your article. Cheers. :smt006

Edit : Did a test cash-out of a few hundred bucks to Coinbase for extra money for Japan. It told me it'd arrive next week (3-5 business days) but plopped itself in my account this morning. 12 hours. Fuck yeah. :smt007

Paypal is supposedly minutes, but I have heard stories of people's accounts being locked, and I currently funnel money back home from China this way, so I am not touching that shit with a ten foot pole. Paypal has screwed me enough. I hope Request Network or Stellar Lumens bury them. Unrealistic, but, maybe....just maybe. :twisted:

REQ holding strong at .25 cents. Colossus update imminent.

Stay safe.
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby Major on Fri Dec 15, 2017 8:04 am

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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby prowler on Sat Dec 16, 2017 2:59 pm

REQ has been doing alright, pretty much on par with ETH tho.. possible it might break out again, let's see.

so since i last posted here i've become a disciple of this trader guy, quickfingers luc

he does position trading using what seems like a very conservative, sure-fire strategy. The video above is a good intro, this is a good roundup of his method, and there's a forum built around him at https://quickfingers.io

only made a couple of small trades so far, but I feel like I've learned a bit about how these markets work.. it's pretty exciting stuff (also exposing the dumbness of people/capitalism, but that's another story)

also learned about Coinigy from him, super useful platform: integrates multiple exchanges, trading on the graph, portfolio, market tracking, alerts etc. Has a 30day free trial, hopefully by the end of this month I'll have gained the ~$20 in profits to start paying for it :)
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby moonman on Sun Dec 17, 2017 7:57 pm

I logged into my old exchange accounts the other day just to double check that I hadn't left any crumbs lying around. Managed to find about $600. Also found ledgers of every BTC purchase I've ever made and realised that if I'd held onto them all instead of using them to buy goods online I would be able to pay off my mortgage now. I didn't even spend very much money on BTC - probably spent more on records in that time. Absolute insanity.

I have no regrets though. A few people have told me that they were going to purchase bitcoin but didn't for some reason. They're lying to themselves. They're not the sorts of people who would put money into something so speculative and unknown. I probably would have "invested" (speculated) with a bit more money if I wasn't a student with little cash to my name back then.

The writing on the wall for me is that people aren't even using bitcoin to buy drugs anymore now. The network has ground to a halt with high transaction fees, and currencies with much better anonymity exist. This was literally the only thing that bitcoin was more convenient than regular money for and the fact that it doesn't apply to bitcoin anymore tells me that this current upswing in price and demand is 100% caused by speculation. What goes up must come down and eventually somebody will be left with the electricity bill for the mining. If the bitcoin community refuses to innovate and do anything to solve its issues, such as by changing the blocksize, then then BTC bubble will pop in a big way in the not too distant future. The alt-coins are the ones to keep an eye on, just need to be careful to not "invest" more than you can afford to lose.

Pity that one of the main posters from the old bitcoin thread decided to delete his account, there was some really good discussion in there.
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby gonzochicago on Sun Dec 17, 2017 8:43 pm

Prowler : Indeed! Request Network is just getting started. I have a feeling there might be a breakout to .50 cents or beyond when the update comes next week, but we'll just have to see.

Moonman: Awesome! Though it's definitely still wise to hold 20% BTC / ETH...Alt-Coins are a very solid way to go. Like I said in the beginning, you just have to research hard. It shaves a lot of the "gamble" off, IMO. I think ETH has a shitload of room to grow. I almost snagged a bunch of Monero when it hit its ATL of the quarter at $89 a few weeks back, and wussied out. Kicking myself now. We're going to see some insane shit happen next year. Gotta start researching what to put my new funds for January into now, before tax season hits.

There are no guarantees, but I'm fairly certain with all these bull runs happening, and all this new money flowing to ALTS, REQ may hit $1 by spring / summertime when Main Net happens. If it happens before this, well, game fucking on. I only dreamt of that a month ago, but it's got so many eyes on it (almost 1,000 new Reddit followers per week!) I think it's a pretty safe bet. If you got in before .20, shit is real comfy.

I've looked into EOS, and will consider it in January. It's cool that it will eventually morph into its own thing.

I bought $500 worth of ADA (Cardano) and sold when it hit 150%. Though I lost out on another 100% in gains, I just don't see the thing getting much higher than $1 by spring....its current 10 BILLION DOLLAR market cap is INSANE in its total infancy. I'm blown away it's so high right now. I believe Stellar Lumens is a better buy right now, even at .25 cents. If it even half-way goes after Ripple, it's gonna be crazy.

Got into my final Genesis Vision (GVT) position at $5.90, just before the jump to $7+. Waiting for March's platform launch, and will consider flipping half. Look into this before it hits a 100m Market Cap. Sleeper hit of spring-time, IMO.

I really should consider buying one or two ETH, but I just can't shift the funds right now. I know it will crack $1,000 by the time my new entry comes, but....I must sit this one out for now.

Comfy as hell and not fucking selling :

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Way too much REQ. Bought in at .048. .06. .08. .16 and .20. It's just a goddamn money snake for me now. Planning on flipping my final REQ buy if I can crack 50% by the update.

3 weeks or so until my new entry to the markets. SO EXCITED. Holding all positions until then.

iExec RLC heading back toward $1. It'll crack it soon enough, and once it does, it's game on to $2, $3, and beyond. RLC will have its day, and soon. 4 days to dApp store launch.
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby gonzochicago on Mon Dec 18, 2017 9:11 pm

Request Network's TEST NET is up! Shit jumped to .35 cents!!!! :shock: :twisted:

RLC hit $1. :smt007 3 days to the dApp store launch.

Everything is going insane, and I don't know where to go.

Jumped into a half position of ICON (ICX), which JUST launched on Binance (look into it.), and Chainlink.

Letting all this shit ride until January.

Hanging hard in Osaka right now. Will let the dust settle.

We're all gonna make it. :smt007
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby Tom on Tue Dec 19, 2017 10:11 am

Bosch just announced they're going to be buying substantial amounts of iota for strategic reserves.

IOTA is going to hit 6 today - easy.
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby Tom on Tue Dec 19, 2017 9:06 pm

coinbase can go fuck itself.
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby Major on Wed Dec 20, 2017 7:31 am

Tom wrote:coinbase can go fuck itself.


Wow, yeah. Utterly fucked.

EDIT: Look at all the coin dashboards for the past day. EVERYTHING tanked at 18:44 yesterday while BCH just continued to slowly rise. Yeah, right.

Pros and Cons of decentralized currency.
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby moonman on Wed Dec 20, 2017 7:50 am

gonzochicago wrote:Moonman: Awesome! Though it's definitely still wise to hold 20% BTC / ETH...Alt-Coins are a very solid way to go. Like I said in the beginning, you just have to research hard. It shaves a lot of the "gamble" off, IMO. I think ETH has a shitload of room to grow. I almost snagged a bunch of Monero when it hit its ATL of the quarter at $89 a few weeks back, and wussied out. Kicking myself now. We're going to see some insane shit happen next year. Gotta start researching what to put my new funds for January into now, before tax season hits.

There are no guarantees, but I'm fairly certain with all these bull runs happening, and all this new money flowing to ALTS, REQ may hit $1 by spring / summertime when Main Net happens. If it happens before this, well, game fucking on. I only dreamt of that a month ago, but it's got so many eyes on it (almost 1,000 new Reddit followers per week!) I think it's a pretty safe bet. If you got in before .20, shit is real comfy.

I've looked into EOS, and will consider it in January. It's cool that it will eventually morph into its own thing.

I bought $500 worth of ADA (Cardano) and sold when it hit 150%. Though I lost out on another 100% in gains, I just don't see the thing getting much higher than $1 by spring....its current 10 BILLION DOLLAR market cap is INSANE in its total infancy. I'm blown away it's so high right now. I believe Stellar Lumens is a better buy right now, even at .25 cents. If it even half-way goes after Ripple, it's gonna be crazy.

Got into my final Genesis Vision (GVT) position at $5.90, just before the jump to $7+. Waiting for March's platform launch, and will consider flipping half. Look into this before it hits a 100m Market Cap. Sleeper hit of spring-time, IMO.

I really should consider buying one or two ETH, but I just can't shift the funds right now. I know it will crack $1,000 by the time my new entry comes, but....I must sit this one out for now.

Comfy as hell and not fucking selling :

WaltonChain
Stellar Lumens
Way too much REQ. Bought in at .048. .06. .08. .16 and .20. It's just a goddamn money snake for me now. Planning on flipping my final REQ buy if I can crack 50% by the update.

3 weeks or so until my new entry to the markets. SO EXCITED. Holding all positions until then.

iExec RLC heading back toward $1. It'll crack it soon enough, and once it does, it's game on to $2, $3, and beyond. RLC will have its day, and soon. 4 days to dApp store launch.


You've obviously done your research and I will be interested to read about some of these new coins that I've never heard of before.

I've never properly "invested" in bitcoin in part because I'm just not convinced that it's something the world needs right now. As I touched on in my previous post, the mining process wastes ridiculous amounts of electricity. I read recently that bitcoin mining consumes more electricity than the whole of Ireland. That's fucking obscene. I'm not sure it's wise or ethical to be frivolously wasting that much electricity at a time when electricity generation is quite literally contributing to the destruction of the planet and when there are people living in poverty who need electricity to cook their food but can't afford it. I understand that proof of work allows us to be certain that transactions on the blockchain are legit, but surely there's more efficient ways of doing it. We've seen developments like Primecoin and Siacoin that seem to be attempting to solve this problem but they still don't really do any good for the world.

Another thing that bothers me is the inherent unfairness of the whole thing. If I had held onto all the bitcoins I've ever possessed, why would that make me more deserving of paying off my mortgage than my neighbour who gets up early and goes to work every day? I haven't written a single line of code in the bitcoin core, or really done anything other than be in the right place at the right time. The people who stand make the most money out of this are people who already have a lot of money - the ones who bought a couple of hundred bitcoin to pad out their "investment portfolios" after it first shot over $1000 and then crashed. And the people who are currently living on $1 per day stand to make exponentially less than even you or I. That just kind of contradicts everything that we should be attempting to do as a species.

I understand that under neoliberalism we're living in a dog-eat-dog world, so I'm a reluctant player in these games. When we bought our house we made sure to buy in an area where rental returns are good so that we have the option to rent it out, even though rental property investors are a huge contributor to the massive problem of housing affordability in Australia. But successive governments have created the economic conditions whereby houses are one of the safest bets to building financial security. I don't want to be working when I'm 80 so I reluctantly do what I need to do.

Probably the biggest issue that I see with bitcoin, though, is the fact that it's deflationary. Reserve banks carefully control the amount of money in circulation so that its value very slowly decreases. This encourages spending, which keeps the economy ticking along. The supply of bitcoin, on the other hand, is artificially limited by the hashrate. When you have a limited supply of something, and increasing demand, the price of that thing will go up. But the increasing price of bitcoin is also what draws more people in, so a positive feedback loop is created whereby everyone rushes to throw their money into it, and people who already have it are encouraged to hold. So it continues to grow and grow and grow... until the bubble bursts.

I think bitcoin has done some good for the world - the blockchain is obviously quite an incredible development that managed to solve the double-spend problem quite elegantly, and it's probably contributed to the hastening of the end of the war on drugs. If an alt-coin is able to solve the issues I listed above then I would happily buy into it guilt free. But then again, such alt-coin would probably be impossible to get rich from, so what would be the point of buying into it?

I predict Monero will overtake bitcoin as the currency of choice for drug dealers in the near future, so it's probably fairly likely to continue to increase in price. The only thing that gives me pause is that its hashrate is much higher than bitcoin so it might not have the same sort of massive boom like bitcoin has. It really is impossible to say though.
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby Major on Wed Dec 20, 2017 10:30 am

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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby Major on Wed Dec 20, 2017 1:51 pm

And less than 24 hrs after it began, Bitcoin Cash trading has been suspended:

https://www.bbc.com/news/amp/technology ... ssion=true

What a shitshow.
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby Tom on Wed Dec 20, 2017 2:20 pm

Major wrote:And less than 24 hrs after it began, Bitcoin Cash trading has been suspended:

https://www.bbc.com/news/amp/technology ... ssion=true

What a shitshow.


yeah, it's not very reassuring that this company is the only way I can get my monies out.
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby Major on Wed Dec 20, 2017 2:55 pm

Tom wrote:
Major wrote:And less than 24 hrs after it began, Bitcoin Cash trading has been suspended:

https://www.bbc.com/news/amp/technology ... ssion=true

What a shitshow.


yeah, it's not very reassuring that this company is the only way I can get my monies out.


Plan B: https://gemini.com/
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Re: The Fearsome and Mammoth CRYPTOCURRENCY Thread!

Postby Tom on Wed Dec 20, 2017 3:00 pm

Major wrote:
Tom wrote:
Major wrote:And less than 24 hrs after it began, Bitcoin Cash trading has been suspended:

https://www.bbc.com/news/amp/technology ... ssion=true

What a shitshow.


yeah, it's not very reassuring that this company is the only way I can get my monies out.


Plan B: https://gemini.com/


I've been hearing about gemini. Have you used it?
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