Cryptocurrencies Part II - No more forks for you
- Thread starter Gardner McKay
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What the Faulk
You'll know when you go
I read it on their subreddit this morning, but apparently it was posted in the slack the day before. Also, seems like you don't need 5k to stake anymore, so that vents some of the buy pressure too. And I don't think it really dipped much compared to other alts during this BTC consolidation period, so throw that in there as well.
Looks like it's bouncing wildly in the last hour or so. I ended up selling half my BNB to buy more at around $6.30 this afternoon. Not loving this further dip, but the fundamentals are still there, so I'm not worried.
Gardner McKay
RIP, Jimmy.
I dunno. I'm debating on liquidating everything sans NVO and putting it into BTC for the upcoming fork. I know people will say "Alts will rebound after the fork" until when, they decide to have ANOTHER fork 2 months later? I feel like it is just making Bitcoin unstoppable.
What the Faulk
You'll know when you go
Yeah, I was thinking that a few weeks ago but of course I did nothing and now I feel like it's pushing it on some of these lows (but who really knows).
I did, however, liquidate my VTC (bought in around the $3 dip) to lock in a decent profit because I don't do that enough. Bought some XCP with the intention of buying more NVO annnnd the XCP wallet is offline on Bittrex. Swell.
I did, however, liquidate my VTC (bought in around the $3 dip) to lock in a decent profit because I don't do that enough. Bought some XCP with the intention of buying more NVO annnnd the XCP wallet is offline on Bittrex. Swell.
Thank god I didn't. In fact I sold all my WTC last night. Basically their mainnet will release in December when the expectation was it would be released now. Combine that with the BTC rush that's why it's getting REKT!!
I basically moved almost everything to either BTC or the ASIC resistant coins( VTC and GSR). I bought VTC a week ago at 0.0003900 on some sketchy Chinese exchange when it was trading at 0.0006900 at the time. At the time they didn't allow any withdrawals but now that it does the price is more aligned to the other exchanges.
Btw when I have time I'll find a link that summarizes what WTC announced. They announced some pretty major things, like confirming China support, but they didn't meet their blockchain deadline.
Gardner McKay
RIP, Jimmy.
Gardner McKay
RIP, Jimmy.
What the Faulk
You'll know when you go
Well, there goes the VTC crash. I'll be back soon.
EDIT: Also, f*** counterparty. It autofills a buy/sell order that's literally 0.00000001 XCP less/more than the lowest/highest on the book resulting in the trade not going through. That would be fine except you forfeit the BTC you paid to place the order if you cancel. My fault I guess, but what a dumb system.
EDIT2: Cool, happened again despite clicking on the appropriate order. Sweet waste of BTC.
EDIT: Also, f*** counterparty. It autofills a buy/sell order that's literally 0.00000001 XCP less/more than the lowest/highest on the book resulting in the trade not going through. That would be fine except you forfeit the BTC you paid to place the order if you cancel. My fault I guess, but what a dumb system.
EDIT2: Cool, happened again despite clicking on the appropriate order. Sweet waste of BTC.
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Damn I'm hoping VTC is below 80k stats when I get home. Seems like these ASIC resistant coins are holding strong. GRS had dipped too but bounced back up.
Gardner McKay
RIP, Jimmy.
There is a glitch in counterparty. You always need to place it at .000001 more than you want. It will be off XCP as a pairing token very, very soon and will trade directly against BTC. I can't wait. I f***ing hate that system with a passion. Part of the reason the token has such low volume. Its too expensive to spec/trade.Well, there goes the VTC crash. I'll be back soon.
EDIT: Also, **** counterparty. It autofills a buy/sell order that's literally 0.00000001 XCP less/more than the lowest/highest on the book resulting in the trade not going through. That would be fine except you forfeit the BTC you paid to place the order if you cancel. My fault I guess, but what a dumb system.
EDIT2: Cool, happened again despite clicking on the appropriate order. Sweet waste of BTC.
What the Faulk
You'll know when you go
BTC is flying again and could break 7k soon. Ugh, wish I did move into it back at like 5.5k when I posted about it but now I'm kinda stuck in these alts I think.
Now watch it go up to 8k.
Now watch it go up to 8k.
The Crypto Guy
Registered User
- Jun 26, 2017
- 26,440
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This is ridiculous.
It shows how far ahead Bitcoin is compared to everything out there, including Ether.
It shows how far ahead Bitcoin is compared to everything out there, including Ether.
TheDoldrums
Registered User
People on a couple different forums used to chuckle at me for just holding BTC instead of a bunch of alts. Working out pretty good right now.
What the Faulk
You'll know when you go
I mean, it's going to swing back. I'm just complaining that I had the perfect timing, I just didn't pull the trigger.
TheDoldrums
Registered User
Maybe. People have been saying "alts are on sale!" for a long time now. We'll see. I continue to think long-term that bitcoin is the only safe bet, as I've been saying here for awhile.
What the Faulk
You'll know when you go
Sure, it's safe. Nobody is disputing that. People get into alts because the potential gains are far beyond what bitcoin could bring.
There's no reason to believe this won't happen again.
TheDoldrums
Registered User
Unless you believe in bitcoin maximalism, wherein the further growth and acceptance of bitcoin will lead to alts becoming mostly useless.
What the Faulk
You'll know when you go
Yeah, that's a pretty stupid thing to believe in considering how many different things alts are trying to tackle compared to bitcoin.
Maximalists are toxic f***s who should be cheering on the growth of the entire community, not just hoping their coins go up a few percentage points.
TheDoldrums
Registered User
No need to be so angry. I'm not hoping for failure if I think most alts are useless, it's just my opinion.
What the Faulk
You'll know when you go
There's a decent amount of shit coins and many coins that overlap or do the same thing, but there's plenty out there that are useful. Beyond that, it's pretty silly to dismiss them solely from an earnings standpoint. ETH, NEO, WTC, etc. made a lot of people a lot of money. They'll be fine when the fork is over.
Gardner McKay
RIP, Jimmy.
People were hoping for BTC Gold to turn out the same way BTC Cash did. Didn't happen. Now, you have the possibility of something significant happening with the up coming fork. If it happens and alts don't rise, that is bad news for Crypto. The entire sector can't just be Bitcoin in order to have long term growth and legitimacy as a market. These forks aren't good for the industry as a whole. Back when NEO was at $40, I was considering ditching some to buy 3-4 BTC to hold for long term. Am I ever kicking myself in the ass...
I wouldn't worry. Different coins/tokens tackle different things. We should actually be cheering for Bitcoin's growth because when new money comes in and people realize there are other coins/tokens they will invest in those either.
And think of it this way, your alt holdings are losing value in BTC but dollar wise it's not as impacted because of the rise in BTC price.
In terms of holding BTC it's all about opportunity cost. You can hold your 3 or 4 BTC and you'll be fine but you can also use 1-2 BTC from that and buy alts to increase the BTC value. Not sure why anyone would dispute the alt strategy.
And think of it this way, your alt holdings are losing value in BTC but dollar wise it's not as impacted because of the rise in BTC price.
In terms of holding BTC it's all about opportunity cost. You can hold your 3 or 4 BTC and you'll be fine but you can also use 1-2 BTC from that and buy alts to increase the BTC value. Not sure why anyone would dispute the alt strategy.
ScottishCanuck
Registered User
I put all of my bitcoin into HTML a month or so ago and it's held firm at the 2 satoshis I bought in at so I've lost nothing pretty much.
One of the good things about investing in something that can't really go much lower. Swap to the new blockchain on November 20th, hopefully a reduction in supply if a lot of coins are lying dormant and post fork there should be a rise.
One of the good things about investing in something that can't really go much lower. Swap to the new blockchain on November 20th, hopefully a reduction in supply if a lot of coins are lying dormant and post fork there should be a rise.
Alchemy
Mind Control
- Jul 8, 2006
- 15,746
- 719
Anybody think in 2018 this thing could go mainstream? Starting to see more countries and companies use cryptocurrency. If you think about it the monetary system is already used somewhat by digital currency(bank accounts). Eventually within the next 5-10 years this thing could be the everyday use of money.
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