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Buying bitcoins

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    #6632
    makeorbrake
    Registered Users Posts: 4,664 ✭✭✭makeorbrake


    grindle wrote: »
    Does anybody else know where that recent $250m BTC transaction went? Exchange thing or maybe it was splitting these coins into different wallets for trading?
    I'm not sure if this is one and the same thing but a couple days back, Coinbase gave advanced warning that they were going to be shuffling some large sums of BTC. Despite the notice, not everyone picked up on it.


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    #6633
    asteroids over berlin
    Closed Accounts Posts: 1,115 ✭✭✭asteroids over berlin


    makeorbrake wrote: »
    I'm not sure if this is one and the same thing but a couple days back, Coinbase gave advanced warning that they were going to be shuffling some large sums of BTC. Despite the notice, not everyone picked up on it.

    there were a couple of transactions last week for huge amounts of btc which were then split into numerous wallets with either 10 or 100 btc each- i think this was coinbase, a new cold storage solution they were rolling out


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    #6634
    jobless
    Registered Users Posts: 2,183 ✭✭✭jobless


    anyone dipping back into the market with these prices?


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    #6635
    Grumpypants
    Registered Users Posts: 7,753 ✭✭✭Grumpypants


    jobless wrote: »
    anyone dipping back into the market with these prices?

    Yip, I have been topping up a small bit in the last few weeks. Not huge numbers as I only ever invest what I'm not afraid to lose. But it is a few hundred euro.

    It's the crypto recession right now, but if you can weather it you will do well coming out the other side. The figures last year were crazy high, they are around the right levels now, perhaps a little lower than they should be based on the activity.

    Bought some Bitcoin, ETH, Litecoin, Ripple, Ox, and next I'll buy some EOS.

    Same reason I bought my house in the recession. If you are in no rush to sell then it will come good eventually.


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    #6636
    preddy
    Registered Users Posts: 650 ✭✭✭preddy


    jobless wrote: »
    anyone dipping back into the market with these prices?

    Going to wait till we hit around €2300-€2600 BTC


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    #6637
    Bob24
    Registered Users Posts: 10,905 ✭✭✭✭Bob24


    Grumpypants wrote: »

    It's the crypto recession right now, but if you can weather it you will do well coming out the other side.

    Same reason I bought my house in the recession. If you are in no rush to sell then it will come good eventually.

    I would be *very* cautious with comparing property and crypto!!

    Saying that most properties will never be worth zero and will always eventually recover after a crash is probably true.

    The same is not true for cryptocurrencies ... they can absolutely be worth zero or never recover.

    Not saying it’s necessarily a bad idea to buy some crypto now, but IMO comparing it to purchasing property during an economic recession is quite misguiding in terms of risk assessment.


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    #6638
    q85dw7osi4lebg
    Closed Accounts Posts: 3,502 ✭✭✭q85dw7osi4lebg


    Long may this run continue


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    #6639
    Grumpypants
    Registered Users Posts: 7,753 ✭✭✭Grumpypants


    Time to start picking my plot on the moon again.

    I do think there is one last crash, i can see it hitting 5k then dropping below 2k.


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    #6640
    JJJJNR
    Closed Accounts Posts: 4,791 ✭✭✭JJJJNR


    1500 then sideways.


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    #6641
    Dohnjoe
    Registered Users Posts: 17,786 ✭✭✭✭Dohnjoe


    Grumpypants wrote: »
    Time to start picking my plot on the moon again.

    I do think there is one last crash, i can see it hitting 5k then dropping below 2k.

    Yeah it's really hard to know what's going to happen

    Strangely, I'd be okay with the market dithering around for 2 or so years.


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    #6642
    JohnnyFlash
    Registered Users Posts: 7,055 ✭✭✭JohnnyFlash


    Some positive movement over the past few days for Bitcoin, and as a result, for all the other coins hanging on its coattails. I did make the prediction that it would be over 4200 on Christmas Day, but I'm not sure this sudden spike is anything more than a rather cheap attempt to clear out the last few degenerate gamblers who took short positions using leverage on Bitmex and Bitfinex. I'd have been more sure about my prediction if it wasn't so 'spikey' yesterday.

    I haven't been following the whole scene very closely recently, but volumes have improved significantly. Liquidity was so thin all year, especially from that descent from around 9000 to 6500. There were days when Coinbase had rolling 24 volumes of less than 1000 bitcoin. I'd still be very interested in the figures that emerge from Bitmain. It's a real bellwether for the health of the space.


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    #6643
    Grumpypants
    Registered Users Posts: 7,753 ✭✭✭Grumpypants


    Apparently some news outlet got a look at tethers bank statement and they do have the cash on deposit. That news seems to be the driving force as it had been written off as the scam that was holding up the pyramid scheme by those "in the know".


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    #6644
    Bob24
    Registered Users Posts: 10,905 ✭✭✭✭Bob24


    Grumpypants wrote: »
    Apparently some news outlet got a look at tethers bank statement and they do have the cash on deposit. That news seems to be the driving force as it had been written off as the scam that was holding up the pyramid scheme by those "in the know".

    Yeah I saw that yesterday. But isn’t it old news in a way? Confirmation that they have the money in the bank had already been provided in the past, what was missing (and still is) is a proper audit of all their assets and liabilities.


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    #6645
    smacl
    Moderators, Society & Culture Moderators Posts: 15,718 Mod ✭✭✭✭smacl


    Grumpypants wrote: »
    Apparently some news outlet got a look at tethers bank statement and they do have the cash on deposit. That news seems to be the driving force as it had been written off as the scam that was holding up the pyramid scheme by those "in the know".

    Not that new though, from 1st November,Linky, and more from 5th November from the bank saying it is legit.
    Tether limit also provided a letter from Deltec Bank and Trust Limited stating that the cash value of Tether’s account was $1,831,322,828. Comparing this figure with the circulating supply reported on coinmarketcap.com ($1,776,421,736) , we can conclude that Tether (USDT) is indeed backed by actual US Dollars.

    Deltec Bank in the Bahamas would seem to have a few other interesting customers. I'll remain sceptical of Tether myself for the time being.

    Edit: Beaten to it!


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    #6646
    Grumpypants
    Registered Users Posts: 7,753 ✭✭✭Grumpypants


    Yeah but this was a Bloomberg reporter so holds a bit more weight with the markets than a crypto blog, regardless of if the info was right at the time.

    Already i miss those €68 ETH, they will haunt me when it's a grand again lol


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    #6647
    smacl
    Moderators, Society & Culture Moderators Posts: 15,718 Mod ✭✭✭✭smacl


    Grumpypants wrote: »
    Yeah but this was a Bloomberg reporter so holds a bit more weight with the markets than a crypto blog, regardless of if the info was right at the time.

    Already i miss those €68 ETH, they will haunt me when it's a grand again lol

    This article; https://www.bloomberg.com/news/articles/2018-12-18/crypto-mystery-clues-suggest-tether-has-the-billions-it-promised


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    #6648
    Grumpypants
    Registered Users Posts: 7,753 ✭✭✭Grumpypants


    That's the one


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    #6649
    q85dw7osi4lebg
    Closed Accounts Posts: 3,502 ✭✭✭q85dw7osi4lebg


    Is that the first marginally positive crypto article by mainstream media, ever?


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    #6650
    makeorbrake
    Registered Users Posts: 4,664 ✭✭✭makeorbrake


    Angelo Sparse Sunflower wrote: »
    Is that the first marginally positive crypto article by mainstream media, ever?

    I'm not sure it's all that positive. At the end of the day, Tether always keep on coming up short. I mean, I guess there's more of a likelihood that they have the funds to back the token. I can only imagine that the reason they won't allow full audits is in an effort to protect some dodgy customers. I can't imagine any other rationale.
    Either way, nobody can possibly trust a stablecoin on that basis. It goes against the whole principal that crypto emerged with - i.e. assume lack of trust. Leaving the space exposed to such potential downside risk is not savvy. I can only hope that over time, if people feel the need to use stablecoins, they will at least use those that issue regular audits. Other than that, I'd like to see a continued move towards decentralised exchanges.


    As regards Bloomberg, I'm open to correction but I believe it was them that had the story about Tethers previous half baked attempt (via their lawyers and a letter from their bank) to show proof of funds.

    You can't trust any media anyway. However, over and above that, media continues to be unsettled/disrupted and none of them are making a bean. That leaves them even more susceptible to print any old guff.


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    #6651
    q85dw7osi4lebg
    Closed Accounts Posts: 3,502 ✭✭✭q85dw7osi4lebg


    makeorbrake wrote: »
    I'm not sure it's all that positive. At the end of the day, Tether always keep on coming up short. I mean, I guess there's more of a likelihood that they have the funds to back the token. I can only imagine that the reason they won't allow full audits is in an effort to protect some dodgy customers. I can't imagine any other rationale.
    Either way, nobody can possibly trust a stablecoin on that basis. It goes against the whole principal that crypto emerged with - i.e. assume lack of trust. Leaving the space exposed to such potential downside risk is not savvy. I can only hope that over time, if people feel the need to use stablecoins, they will at least use those that issue regular audits. Other than that, I'd like to see a continued move towards decentralised exchanges.


    As regards Bloomberg, I'm open to correction but I believe it was them that had the story about Tethers previous half baked attempt (via their lawyers and a letter from their bank) to show proof of funds.

    You can't trust any media anyway. However, over and above that, media continues to be unsettled/disrupted and none of them are making a bean. That leaves them even more susceptible to print any old guff.

    Concise response! Agree with it all, wouldn't trust the financial media as far as I can throw them.


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    #6652
    asteroids over berlin
    Closed Accounts Posts: 1,115 ✭✭✭asteroids over berlin


    Testing the $4k mark now, whilst we all know there is rampant manipulation, this kind of movement just shows the influence a small group or even 1 big fish (fcuk whales) can have.


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    #6653
    Bob24
    Registered Users Posts: 10,905 ✭✭✭✭Bob24


    makeorbrake wrote: »
    As regards Bloomberg, I'm open to correction but I believe it was them that had the story about Tethers previous half baked attempt (via their lawyers and a letter from their bank) to show proof of funds.

    You can't trust any media anyway. However, over and above that, media continues to be unsettled/disrupted and none of them are making a bean. That leaves them even more susceptible to print any old guff.

    On the first point, I would add that actually what they are saying now doesn’t seem very different from the previous story you mention. Essentially someone is saying the saw bank statements showing that tether has a cash amount in a he bank matching all tokens in circulation. Which is good to know but doesn’t guarantee in any way that they could access that money if tomorrow every tether holder wanted to cash out (even assuming the statement are genuine and accurate - which I believe no one is clearly vouching for but I could be mistaken - they could for exemple have other liabilities / creditors with higher priority preventing them from accessing some of that money).

    On your second point, also with you on this. Specifically, it is Bloomberg who kind of made a foul out of themselves by publishing and refusing to retract a story on Chinese spy chips even though absolutely everyone else strongly denies it (including the specialist/academic sources they quote, which have come out saying Bloomberg is completely misrepresenting they email/phone exchanges they had). So they are not at the top of my list in terms of media credibility.


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    #6654
    Tinder Surprise
    Registered Users Posts: 1,462 ✭✭✭Tinder Surprise


    every single BTC analysis indicates big support at $3600

    The only question now is if it bounces up from that point, or if it breaks below then it'll go into 2019 potentiality below $3k

    interesting couple of days ahead


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    #6655
    Dohnjoe
    Registered Users Posts: 17,786 ✭✭✭✭Dohnjoe


    BTC and crypto "analysts" got it wrong so many times this year I've lost count. It's a bunch of pseudo-traders with coin-flip short term guesses trying shots in the dark to predict medium term. If the market crashed 25% next week, they'd be all at it again the week after. Comfort predictions.


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    #6656
    worded
    Registered Users Posts: 4,536 ✭✭✭worded


    Should I stay or should I go now ?


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    #6657
    Capt'n Midnight
    Moderators, Recreation & Hobbies Moderators, Science, Health & Environment Moderators, Technology & Internet Moderators Posts: 90,762 Mod ✭✭✭✭Capt'n Midnight


    If you stay there will be trouble, if you go there will be double.


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    #6658
    cnocbui
    Registered Users Posts: 19,742 ✭✭✭✭cnocbui


    worded wrote: »
    Should I stay or should I go now ?

    Expect to be sued by the Marvin Gaye estate for plagiarism, any minute now.


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    #6659
    Tinder Surprise
    Registered Users Posts: 1,462 ✭✭✭Tinder Surprise


    12 months ago.....
    soirish wrote: »
    Advice from a guy who made 500k trading crypto. Controversial post but interesting read anyway.

    https://www.reddit.com/r/CryptoCurrency/comments/7pgh7u/ive_made_over_500k_in_crypto_here_are_some_good/
    cravings wrote: »
    https://pastebin.com/a12E3dsh

    just quickly copied the text there. still have it open here.

    really sound advice at the time considering it was during the Dec 2017 boom, and now even more so with the benefit of hindsight.

    I love this bit..
    We are definitely due for another large correction, so you must be comfortable with losing 80% of your portfolio value in case of a crash and sitting back and letting it slowly recover. Personally I would recommend that once you double your profit, pull out the principal so you are only playing with profits.

    ..especially during all the fomo of the time you would have had folk laugh at you


  • Options
    #6660
    Tinder Surprise
    Registered Users Posts: 1,462 ✭✭✭Tinder Surprise


    Looks like the big $3500 support is going get a good testing


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    #6661
    Stuxnet
    Registered Users Posts: 3,735 ✭✭✭Stuxnet


    I used the website eircoin few years back to buy a few $$ in bc. Was handy as was Irish based and you could pay for your coin via Irish bank transfer.

    Site does not seem to be operating anymore.

    Anybody know of similar alternative Irish broker, or whats the least painful way to purchase some coin that all the cool kids use these days.

    Thanks


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