Cryptocurrencies Part III - We ran as if to meet the Moon

[void]

Gotcha. Well I disagree then. Bitcoin went up over the last week and the alts all went up as well. I didnt see much going down aside from a handful. That's how it usually goes. And when bitcoin goes down, everything follows.

They went up in dollar value, not sats value. That's a big big difference.

 

[ScottishCanuck]

Some of them went up in dollar value. But if you look at the 7 day percentages on CMC you'll see a 10.5% gain for bitcoin and an awful lot of red for the alts.

 

[The Crypto Guy]

They went up in dollar value, not sats value. That's a big big difference.

Correct. But I think people here who are looking to invest, are asking about dollar value when it comes to investing their money, not sat value.

 

[phisherman]

Correct. But I think people here who are looking to invest, are asking about dollar value when it comes to investing their money, not sat value.

They should learn to look at sat value. You can't really cash out of most alt coins directly into cash so sat value is important.

 

[Gardner McKay]

Yep, Vechain. Binance announced a VTHO airdrop for anyone holding VET by August 1st. Price is up 25% because of it.

Vechain's up to some really big things in the next few months from what I've been told by people in the know. Their OceanEx and Cahrenheit (created by Joe Lee, the founder of Kuaidi - the Uber of China) icos are going to be absolute behemoths.

I snagged some VET this morning. Too much going on not to jump on the bandwagon.

 

[Gardner McKay]

They should learn to look at sat value. You can't really cash out of most alt coins directly into cash so sat value is important.

I don't know. I mean, I get the importance of sat value but I don't think that is a reason why it is important. It is extremely easy to sell for BTC/ETH and to cash out. If your investment is worth $1,000 today and $1,000 tomorrow but its sat value is lower, you're still going to cash out $1,000. You will obtain less BTC or ETH, true but you will still come away with an amount proportional to what the cash value in the alt coin was.

I think sat value is important in terms of judging the quality of your investment as you are always judging it against bitcoin.

 

[ScottishCanuck]

The proposed Winklevoss ETF has been rejected. And the price is consequently dropping.

Winklevoss twins bitcoin ETF rejected by SEC

August CBOE one still coming but I'm not convinced that gets approved or even ruled on by then.

 

[M.C.G. 31]

I thought it was delayed until September. Explains it dropping like a rock now though.

 

[ScottishCanuck]

I thought it was delayed until September. Explains it dropping like a rock now though.

I think people hear the word ETF and automatically associate it with "the big one in August".

 

[TheDoldrums]

I thought it was delayed until September. Explains it dropping like a rock now though.

There are like 5 ETF's that have been submitted. This wasn't the Van Eck ETF, which most people think has the best shot at being approved. But even if it's not approved, I think it's inevitable down the road. Just might take awhile with it being such a new asset class.

 

[The Crypto Guy]

The proposed Winklevoss ETF has been rejected. And the price is consequently dropping.

Winklevoss twins bitcoin ETF rejected by SEC

August CBOE one still coming but I'm not convinced that gets approved or even ruled on by then.

Price rebounded nicely this morning, the FUD isn't working anymore

 

[ScottishCanuck]

Price rebounded nicely this morning, the FUD isn't working anymore

It did seem like a strange trigger for a drop. Amazing what will cause panic. Glad to see that it's picked up.

 

[S E P H]

What are some trusted news outlets out there for crypto that you guys would recommend? I really like what I am hearing about ETC, but all of them seem to be sycophant articles sharing nothing except rainbows, unicorns, and utopia about the project. Like I would love to know some unbiased insiders about the pros and cons when it comes to Ethereum Classic.

 

[TheDoldrums]

Big happenings from a whale today. Okex's #1 holder of BTC long positions got liquidated. Margin call on a ~400M position. He closed half his long positions a few days ago for big profits, but he went for another round and got burned.

Socialized losses occur on Friday settlements. They'll have to attempt to fill an open loss of ~950 BTC. Everyone trading BTCUSD contracts on Okex will be hurt by this extreme example of rekt.

 

[TheDoldrums]

The NYSE's Owner Wants to Bring Bitcoin to Your 401(k). Are Crypto Credit Cards Next?

Seems like this could be big news

 

[Gardner McKay]

The NYSE's Owner Wants to Bring Bitcoin to Your 401(k). Are Crypto Credit Cards Next?

Seems like this could be big news

It would be huge.

 

[The Crypto Guy]

HUGE

 

[phisherman]

I guess sell the news happens no matter what.

Time to start accumulating.

 

[CokenoPepsi]

Yes i plan to start buying alot more now

 

[phisherman]

Sell the news happened again with the ETF delay. Buys more time to accumulate.

 

[ScottishCanuck]

 

[void]

NVO exit scammed. I think a few of you here were big on NVO, right?

NVO EXIT SCAM CONFIRMED — Steemit

 

[ScottishCanuck]

I'm wary of sources like Steemit as anyone can write anything, but I imagine @Gardner McKay will know if it's nonsense or not.

Would be very unfortunate if true. It's one of the reasons why my lower cap investments are usually US based. At least I know that they can't run off with money without getting into major legal trouble. That's offset by the scrutiny the SEC places on their marketing efforts, but at least there's some security there.

 

[The Crypto Guy]

NVO exit scammed. I think a few of you here we big on NVO, right?

NVO EXIT SCAM CONFIRMED — Steemit

Well that sucks. Glad I didn't buy too much of it.

 

[Gardner McKay]

Well that sucks. Glad I didn't buy too much of it.

IT is 100% nonsense.

They are working on a refund/buyback. Escrows are involved.

Lauda has been active on bitcointalk (she is one of the escrows). There were three developers, one left and these two can't see eye to eye. The current course of action is a refund/buyback and then they would go their separate ways, both develop their own projects and potentially airdrop coins to NVST holders.

The author, Cool4y (Emanuil Pavlov), was kicked out of ever NVO community chat that existed. Ton banned him from slack, discord and telegram. He suffers from multiple personalities, is a pathological liar, a horrible racist, etc.

Right now, the rumored buy back price is going to be somewhere from 60c to $1.00. Depends on a few things though, including BTC price, how much of the milestone funds that were given to the team are still available, etc.