Current Market Conditions - General Discussion

Bandara

JaCrispy wrote: »

Rumours circulating that Amazon will soon accept BTC as payments. Personally, I think its grasping at straws....but if it ever happened then it would really stir up the whole crypto market.

https://cointelegraph.com/news/more-rumors-amazon-could-accept-bitcoin-as-all-eyes-on-conference-call

Coin telegraph is generally accepted to the equivalent of the Sun Newspaper when it comes to Crypto reporting

Without the page three part !

will56

JaCrispy wrote: »

Rumours circulating that Amazon will soon accept BTC as payments. Personally, I think its grasping at straws....but if it ever happened then it would really stir up the whole crypto market.

https://cointelegraph.com/news/more-rumors-amazon-could-accept-bitcoin-as-all-eyes-on-conference-call

Hard to see how BTC could be used by Amazon at the moment given the huge instability in the market ?

JaCrispy

Improvements across the board. Hopefully see a sustained growth period. Rumours circulating that China are about to lift the trading of BTC, which is probably partly responsible for the upturn.

ToxicPaddy

Interesting to see the Russian approach in attempting to control all things Crypto.

https://www.cryptocoinsnews.com/putin-approves-framework-for-ico-regulation/

I know a lot of this is to try and control the flow of money in and out of Russia and also pave the way for the Crypto Ruble

https://www.cryptocoinsnews.com/putins-orders-russia-will-national-cryptocurrency-cryptoruble/

Do anyone think other countries such as China and possible the US will try to follow suit in any shape and form?

BorneTobyWilde

So If one is a novice and has 5k to invest what would the experts recommend ?

at9qu5vp0wcix7

BorneTobyWilde wrote: »

So If one is a novice and has 5k to invest what would the experts recommend ?

Do you have access to a time machine? :pac:

ZeroThreat

ToxicPaddy wrote: »

Interesting to see the Russian approach in attempting to control all things Crypto.

https://www.cryptocoinsnews.com/putin-approves-framework-for-ico-regulation/

I know a lot of this is to try and control the flow of money in and out of Russia and also pave the way for the Crypto Ruble

https://www.cryptocoinsnews.com/putins-orders-russia-will-national-cryptocurrency-cryptoruble/

Do anyone think other countries such as China and possible the US will try to follow suit in any shape and form?

Dimoncoin, 'The Bankers Coin'.

BorneTobyWilde

Alex Putrid Thermometer wrote: »

Do you have access to a time machine? :pac:

1.21 gigawatts
Would 5,000 of bitcoin at this point be a good investment, or would another cryptocurrency be an option. What is available cheap that will be worth 10,000 times its value in 5 year.

ToxicPaddy

ZeroThreat wrote: »

Dimoncoin, 'The Bankers Coin'.

nah we have one for him already

Titcoin :D:D:D

ZeroThreat

ToxicPaddy wrote: »

nah we have one for him already

Titcoin :D:D:D

This is probably more appropriate.

https://coinmarketcap.com/currencies/wankcoin/

Grumpypants

Vertcoin keeps on tracking up. I bought in at €1 in September and we just hit €5. Seems like a bit of a correction to €4 is on the cards before prices rise again.

Think it has a good chance of hitting NEO levels of 25ish in the next 6 months as the mining reward halving is happening in December. So Vertcoins become more limited then which should jump prices.

cnocbui

BorneTobyWilde wrote: »

1.21 gigawatts
Would 5,000 of bitcoin at this point be a good investment, or would another cryptocurrency be an option. What is available cheap that will be worth 10,000 times its value in 5 year.

Any answer to that second question will likely be worth as much as the paper it's printed on.

In answer to your first question, I would say yes.

S.M.B.

Where are you guys buying the vertcoin?

ZeroThreat

S.M.B. wrote: »

Where are you guys buying the vertcoin?

Well I bought mine on the Bittrex exhange.

Grumpypants

Dumped my lite and Zcoin into bitcoin. Made a small bit of profit but i've lost faith in both actually going anywhere.

JaCrispy

Bitcoin really driving high and still 2 weeks to go until the Segwit2x fork. I think Bitcoin could potentially hit $9-10k before then.

Going to be an interesting 2 weeks, to see the heights of BTC and the lows of alts.

Bitcoin

Bitcoin $10k is an inevitability at this stage, huge volume and huge momentum driving this thing through the stratosphere.

Thargor

BTC roaring ahead, I'm getting funds ready for the dump after Segwit.

ZeroThreat

Based on coinmarketcap prices this morning, the BTC part of my porfolio is worth 35% of total holding values now, while Vertcoin represents 7%.

ETH is barely 4% above my purchase price, while LTC is down 2.5% on what I bought it for.

Other stuff that each make up about 1% or less of my holdings value are performing disastrously such as OMG (down 40%) and Ark (down 30%) and Civic (down 30%).

I also have a small amount of XRP (less than 1%) that's also down 5% - wish I'd sold it during the conference when it went somewhat higher.

Neo is worth about 8% of my total and that's now below 9% of my purchase price.


The dilemma with Bitcoin and the fork is that after it happens, sooner or later there will have to be some sort of correction, so ideally I'd like to cash in my BTC, & hold the money on the exchange so I can buy back more BTC with no delay when the price drops.

Of course that's probably risky as I could be 'catching a falling knife', or left on the sidelines if there's no dip and BTC continues to rise....

cnocbui

ZeroThreat wrote: »

Based on coinmarketcap prices this morning, the BTC part of my porfolio is worth 35% of total holding values now, while Vertcoin represents 7%.

ETH is barely 4% above my purchase price, while LTC is down 2.5% on what I bought it for.

Other stuff that each make up about 1% or less of my holdings value are performing disastrously such as OMG (down 40%) and Ark (down 30%) and Civic (down 30%).

I also have a small amount of XRP (less than 1%) that's also down 5% - wish I'd sold it during the conference when it went somewhat higher.

Neo is worth about 8% of my total and that's now below 9% of my purchase price.


The dilemma with Bitcoin and the fork is that after it happens, sooner or later there will have to be some sort of correction, so ideally I'd like to cash in my BTC, & hold the money on the exchange so I can buy back more BTC with no delay when the price drops.

Of course that's probably risky as I could be 'catching a falling knife', or left on the sidelines if there's no dip and BTC continues to rise....

Neo is nothing but an enormous bull trap, IMO. People were on here pumping Gnosis when it was launching, I thought that was a steaming pile back then too.

I'd love to see some charts showing this inevitable drop off in BTC price after forks. I was actually expecting that to happen too, thinking there would be some correlation to what happens to shares when there is a rights issue, but Bitcoin doesn't seem to have read any books on investment or economic theory. All that happened was that I got a pile of free money, theoretically.

The One Doctor

I presume that after the fork, since BTC holders will receive 'free money', a lot of them will dump their SegWit2X and put it back into BTC, pushing BTC up further?

That's what I'd do as a bitcoin newbie. The price history seems to infer that a correction will come, but when and how deep?

Thing is, with all the official interest in BTC, a lot of very big companies are pumping money in now. Are they pumping just to dump or are they in it for the long haul?

Either way, if it dumps I'll buy back in and if it pumps I'll take half of my investment out every year as fiat.

Grumpypants

cnocbui wrote: »

Neo is nothing but an enormous bull trap, IMO. People were on here pumping Gnosis when it was launching, I thought that was a steaming pile back then too.

I'd love to see some charts showing this inevitable drop off in BTC price after forks. I was actually expecting that to happen too, thinking there would be some correlation to what happens to shares when there is a rights issue, but Bitcoin doesn't seem to have read any books on investment or economic theory. All that happened was that I got a pile of free money, theoretically.

And thank god I ignored that advice

GNOSIS was one of my first big Alt coins wins when it turned my initial 2 ETH (I had bought for 16 Euro) investment into 1K. Neo then turned that 1K into 7K.

I've spent all morning snapping up Alt coins at huge discounts with the bitcoin surge the value is even better.

cnocbui

Grumpypants wrote: »

And thank god I ignored that advice

GNOSIS was one of my first big Alt coins wins when it turned my initial 2 ETH (I had bought for 16 Euro) investment into 1K. Neo then turned that 1K into 7K.

I've spent all morning snapping up Alt coins at huge discounts with the bitcoin surge the value is even better.

You are unusually astute and I congratulate you. Most people aren't, including myself.

My perspective is that I think there is a very good chance BTC will have five trailing zeros after the price at some point and that alts are just a distraction, from my own investment viewpoint.

I know you are big fan of Neo and I wish you all possible luck with it but I personally think the Chinese government wouldn't touch it with a barge pole and are more likely to take action that would cripple it. If they ever wanted an official crypto they would roll their own, not adopt anything pre-existing. The idea of it becoming an actual currency used extensively in China I think is a pipe dream. They aren't going to back any form of crypto anytime soon because it would just be used as a vehicle for capital to flee China into foreign equity and property markets, which is why they have stomped on Cryptos.

Here is the life chart for Gnosis. I think it would be fair to say 'most' people who invested in it thinking it had great future prospects have likely lost money. Getting in and out quick, while a good strategy in terms of profit, pretty much has to be driven by the same sort of cynicism I have:

ZeroThreat

Grumpypants wrote: »

And thank god I ignored that advice

GNOSIS was one of my first big Alt coins wins when it turned my initial 2 ETH (I had bought for 16 Euro) investment into 1K. Neo then turned that 1K into 7K.

I've spent all morning snapping up Alt coins at huge discounts with the bitcoin surge the value is even better.

Someone I watch on youtube has recommended substratum as a long term small cap investment with potential, do you have any views on this coin?

The One Doctor

This is nuts. I only bought my first bitcoin last week and it's already earned me as much as my usual weekly income.

cnocbui

The One Doctor wrote: »

This is nuts. I only bought my first bitcoin last week and it's already earned me as much as my usual weekly income.

Welcome to bitcoin. Hold on tight because it's a wild ride.

Grumpypants

cnocbui wrote: »

You are unusually astute and I congratulate you. Most people aren't, including myself.

My perspective is that I think there is a very good chance BTC will have five trailing zeros after the price at some point and that alts are just a distraction, from my own investment viewpoint.

I know you are big fan of Neo and I wish you all possible luck with it but I personally think the Chinese government wouldn't touch it with a barge pole and are more likely to take action that would cripple it. If they ever wanted an official crypto they would roll their own, not adopt anything pre-existing. The idea of it becoming an actual currency used extensively in China I think is a pipe dream. They aren't going to back any form of crypto anytime soon because it would just be used as a vehicle for capital to flee China into foreign equity and property markets, which is why they have stomped on Cryptos.

Here is the life chart for Gnosis. I think it would be fair to say 'most' people who invested in it thinking it had great future prospects have likely lost money. Getting in and out quick, while a good strategy in terms of profit, pretty much has to be driven by the same sort of cynicism I have:

My biggest investment is still in bitcoin as I think it will keep growing. As long as you are in before it becomes main stream you will likely make serious money.

The Alts are just fun. Every now and again I find one I like. People told me ETH was garbage and that NEO was a pyramid scheme when I bought them. Both have made serious returns and held their ground.

Now I like Vertcoin, I bought that at €1 a few weeks ago and it recently hit €5-6.

While none will break out like Bitcoin, there is still serious fun to be had and decent money to be made in the Alt world. You can buy decent volume for little input.

ZeroThreat

Grumpypants wrote: »

My biggest investment is still in bitcoin as I think it will keep growing. As long as you are in before it becomes main stream you will likely make serious money.

The Alts are just fun. Every now and again I find one I like. People told me ETH was garbage and that NEO was a pyramid scheme when I bought them. Both have made serious returns and held their ground.

Now I like Vertcoin, I bought that at €1 a few weeks ago and it recently hit €5-6.

While none will break out like Bitcoin, there is still serious fun to be had and decent money to be made in the Alt world. You can buy decent volume for little input.

I was looking at someone on youtube discuss ICOs (can't remember who exactly), but they did point out the ICOs of 2017 have had considerably less success than those of 2016, which is probably some of the motivation behind certain governments to try to regulate this sector.

Thargor

New ATH after new ATH for BTC, wheres it going to end?

MMeepington

Anyone got ideas about what might happen with bitcoin at the end of November, will it split again, go up or down. Should I cash in my bitcoin before then. Any thoughts

MMeepington

Anyone got ideas about what might happen with bitcoin at the end of November, will it split again, go up or down. Should I cash in my bitcoin before then. Any thoughts

Shauny2010

MMeepington wrote: »

Anyone got ideas about what might happen with bitcoin at the end of November, will it split again, go up or down. Should I cash in my bitcoin before then. Any thoughts

You mean mid November?
After the split Segwit2x may drop to $1800, and drift further south. Bitcoin may also drop back to between 4-5k, maybe even lower

ZeroThreat

Shauny2010 wrote: »

You mean mid November?
After the split Segwit2x may drop to $1800, and drift further south. Bitcoin may also drop back to between 4-5k, maybe even lower

What do you mean drop to $1800, it's only at about $1400 on the futures right now.

MMeepington

I hope it doesn't fall by that much, that would seriously damage cryptocurrency reputation and loose me some money. I'm just learning the market and don't know much about it yet but I'm surprised that there isn't more discussion on the interwebs about it, maybe I'm just not looking in the right place.

Change them for eth.

ZeroThreat

MMeepington wrote: »

I hope it doesn't fall by that much, that would seriously damage cryptocurrency reputation and loose me some money. I'm just learning the market and don't know much about it yet but I'm surprised that there isn't more discussion on the interwebs about it, maybe I'm just not looking in the right place.

Change them for eth.

If it drops a very high proportion of it's value, isn't there a larger danger of all alts following bitcoin down the slope, rather than money flow to them like some argue?

privateBeavis

In terms of during the fork I understand if you have bitcoin then you automatically receive the B2X or whatever it'll be called?

If that is the case do you need to have your bitcoin stored somewhere in particular to get this?
I was reading piece about "preparing for the fork" and was saying shouldn't keep the coins in the exchange i.e. should keep control of your private key and I was going to move to Electrum wallet anyway as its safer.
But if I have all my btc in a wallet during the fork how do I get the B2X - thats the bit I don't understand..

cnocbui

privateBeavis wrote: »

In terms of during the fork I understand if you have bitcoin then you automatically receive the B2X or whatever it'll be called?

If that is the case do you need to have your bitcoin stored somewhere in particular to get this?
I was reading piece about "preparing for the fork" and was saying shouldn't keep the coins in the exchange i.e. should keep control of your private key and I was going to move to Electrum wallet anyway as its safer.
But if I have all my btc in a wallet during the fork how do I get the B2X - thats the bit I don't understand..

You can get the new coin if your BTC is in a wallet you control and which allows you to export your private keys or if it's in an exchange that has said it will support the new coin and give you them.

With a private wallet, you have to wait until someone creates a new wallet that lets you import your private keys and works on the cloned B2X blockchain, such as a modified version of Electrum. What you would then do to get the coins is basically follow the procedure described here for Bitcoin Cash: https://electrum.org/bcc2.txt

wannabecraig

Do you not think most descent wallets and exchanges will support B2X?

nuac

What is the purpose of these forks?

cnocbui

They are a consequence of disagreements between developers/miners who want to modify the way the bitcoin code works. I think Bitcoin Gold came out of a desire to make the bitcoin mining algorithm work efficiently on GPU's, so anyone could mine, rather than the current code, which only dedicated ASIC rigs can mine cost effectively. Bitcoin cash I think was aimed at increasing the mining block size to reduce the cost of transactions by increasing the transaction throughput.

wannabecraig

So with the upcoming fork, which will retain the BTC name and which will get the new name?

So the new 'coin' will have a 2MB block, does that get called BTC or SX2 or whatever?

el diablo

wannabecraig wrote: »

So with the upcoming fork, which will retain the BTC name and which will get the new name?

So the new 'coin' will have a 2MB block, does that get called BTC or SX2 or whatever?

Segwit 2X has been cancelled.

wannabecraig

Yeah, posted before I read the news, tks.

breadmond

https://arstechnica.com/tech-policy/2017/11/bitcoin-compromise-collapses-leaving-future-growth-in-doubt/

Interesting article about what the cancellation of the fork could mean for bitcoin. Personally I can see the escalating transaction fees posing a real problem down the line, if bitcoin fails to evolve we could see one of the newer coins become the market leader.

seraphimvc

meanwhile, drama continues.

https://bitcoin2x.org/

We have decided to continue with the fork as planned. We will not allow the destiny of Bitcoin to be controlled by 6 individuals.
Same date - November 15th.

Bitcoin2x is a secure payment network with cheaper and faster transactions

The One Doctor

seraphimvc wrote: »

meanwhile, drama continues.

https://bitcoin2x.org/

Wait, what??

DANNY2014

BCH going crazy... Can it become the new bitcoin now...

machiavellianme

Maybe in Korea...

seraphimvc

https://www.bitcoin.com/public-service-announcement

Bitcoin.com Statement on Bitcoin Cash (BCH)

As we have previously stated, Bitcoin.com believes that behaving with integrity and upholding agreements made is always the proper course of action. As such, we continue to remain committed to supporting the Segwit2x proposal, which has received broad support from Bitcoin industry and community alike.

Due to significant demand from our users, the Bitcoin.com Pool will give mining customers the option of supporting the Bitcoin Cash chain (BCH) with their hashrate, but otherwise Bitcoin.com Pool will by default remain pointed at the chain supporting Segwit2x (BTC).

We trust that our fellow community members will also behave with integrity and uphold agreements made, but in the unlikely event that the 2MB block size increase portion of Segwit2x fails to activate, Bitcoin.com will immediately shift all company resources to supporting Bitcoin Cash exclusively.

Sincerely,
Bitcoin.com

wtf is going on, literally nonstop drama aha

The One Doctor

Jesus. I converted my BTC to LTC yesterday and I'm glad I did.