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Cryptocurrency |OT| Nothing from Money
- Thread starter Brandson
- Start date
http://www.investopedia.com/news/co...rrencies-us-border-bitcoin-homeland-security/
Not really sure how they are going to proof this...
walking fiend
Member
I don't think it will be too difficult to practically enforce it. Off the top of my head: they will just regulate the exchanges and the exchanges will inform the government. Exchanges that do not agree with the regulations will be denied access to the banking system. So while you will be able to technically take your money into the US, you won't be able to cash them out in the US.
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Edit: I don't remember where I saw it, but this situation reminds me of the man who was falling off a skyscraper while saying: Ah, I fell another level, but yet everything is fine...
walking fiend
Member
My bet is a few big players pulling the plug started the domino, the rest is just the market reacting.
You may ask how low can it go? Technically, the answer is as low as is worth it if only one person hold all the Ether.
Let's compare it with the stock of a company, let's say Nintendo [cause I really like them]. If only person holds all the share, it basically means they own Nintendo. So the market cap will not go below what is the perceived value of Nintendo; and that point some financial institute or a private investor [Nintendo themselves, for example] will step in and buy a majority of the shares, essentially taking control of the said company.
So the price of Eth can go as low as is the perceived value of the Ethereum platform. However, the market dynamics will possibly prevent it from going that low.
thanks for the update. I'm holding long term for now, will see where this ride goes
CaptainZombie
Member
I missed the $260-265 mark.....but got some at $285. Damn with this $500 limit of mine.
CaptainZombie
Member
Back at $300. Some weird things are happening with Eth today for sure that this stuff is bouncing around a lot. Even with the block chain conference it's doing crazy Dips and jumps.
Golden_Pigeon
Banned
ETHEREUM | Price: $317.807 Change: -15.17%
Back again. People need to keep calm.
Back again. People need to keep calm.
Tempted to buy some here but wondering if we might still see a major correction to under $200 usd.
Seems to be holding right now pretty well though at 280-290.
If this is just a speculation driven bubble though the actual more reasonable mean is like sub $150.
I might just keep mining my .05 eth a day or so and not drop any more fiat into it for the time being. It's too volatile right now. You might make some money trying to time the ups and downs, but you might just lose a bunch of money if it does correct to a sub $200 level buying this high. Longer term though I do think it will break $500 by end of year, and stay at least that high indefinitely, so it's still a good investment if you're willing to just hold.
Seems to be holding right now pretty well though at 280-290.
If this is just a speculation driven bubble though the actual more reasonable mean is like sub $150.
I might just keep mining my .05 eth a day or so and not drop any more fiat into it for the time being. It's too volatile right now. You might make some money trying to time the ups and downs, but you might just lose a bunch of money if it does correct to a sub $200 level buying this high. Longer term though I do think it will break $500 by end of year, and stay at least that high indefinitely, so it's still a good investment if you're willing to just hold.
Unknown Soldier
Member
The hilarious thing is how Coinbase is always mysteriously down when big market moves happen. I need to get my ETH out of there because I'm sitting here watching it move up and down and I can't do anything. If an actual stock broker was down during major stock market movements there would be an army of lawyers looking to cash in on class action lawsuits within the hour. Coinbase either needs to figure out how availability works or they are going to crash and burn as an ongoing business concern.
Unknown Soldier
Member
I'm thinking about ordering a Ledger Nano S but they are saying no shipments until August, so I would also like to know where to stash my ETH until then.
Same place Jennifer Lawrence should have stored her photo's.
Offline.
https://www.ledgerwallet.com/
You could spread the risks and put them on 3 or 4 exchanges.
Fuck, I went to make breakfast when it rebounded to 297 figuring it would dip later so I'd get some again at like 270-280, oh well. Back above 300 at 315 now.
Either way it's really interesting to see people pull out. Don't see the point. A couple days of stuff going up or down 10-30% is how this shit used to be, and there's lots of nice places to buy.
Either way it's really interesting to see people pull out. Don't see the point. A couple days of stuff going up or down 10-30% is how this shit used to be, and there's lots of nice places to buy.
Did GDAX also go down with coinbase? I was looking at a few others, but didn't settle on anything. Gemini still hasn't approved my shit.
Just another layer to the gamble
Myetherwallet.com provides an easy way to generate a key and offline paper wallet for Ether
Don't store you json file on your comp, on a USB key, encrypt it. That way you basically have an offline wallet that is still easily accessible. Only way someone could get at it would be to physically hack your comp and be watching while you have your USB plugged in and have a keylogger on your password. Pretty unlikely.
Use at least a software wallet like Exodus for BTC, that way the only way someone can grab it is if they physically hack your machine, install a keylogger, and send everything out of your wallet
Basically I don't think you really need a hardware wallet unless you have very large amounts that are accessible on your actual computer. But at least have your wallet access limited to your machine and not just on an online exchange or mining site (nicehash)
I should really learn to listen to my own advice more.
walking fiend
Member
If you are deciding to use an offline wallet make really really use that it your on an authenticated website; lots of links flying around to phishing websites with fake wallets that steal your money.
Aztechnology
Member
Added my 1070 last night. At nearly 90MH/s now.
As for ETH. Would have been nice to take profits last night. Then bought again. Now the question is just basically when to buy some more. Has it bottom yet? I don't know. People who were buying and hype are selling off though. Hopefully they won't be kicking themselves in a few years.
Actually hopefully they will!
Cool, I'm actually pretty tempted to build a 4x 1060 rig, but the investment might be better served by just buying like a grand of eth and holding it. I'm not sure what the projected mining difficulty looks like going forward. If it becomes significantly more difficult to mine in the next year I don't know that it's worth it, as that rig would cost over a grand and you'd basically just be able to recoup that investment in 3-6 months. Whereas investing a large sum could net actual profits immediately especially if eth gets up over $500 by year's end, then invest the profits, etc.
I pulled the trigger on another 1070 just because I already had one and I could recoup the cost of the card in a month or 2. Building a mining rig from scratch I don't really think even makes sense right now I guess. People mining for months or years it's a completely different story. If you built a rig even a month ago, totally worth it.
Unknown Soldier
Member
Yes, at this point the opportunity cost of mining has become too great. You can't outmuscle the giant Chinese mining farms and it's a waste of money to try when you can just directly invest it instead, in cryptocurrencies or the stock market.
Plus proof-of-stake is coming anyways. Hopefully we won't have to waste enormous amounts of electricity on cryptocurrencies anymore sometime in the near future. Proof-of-work needs to die, the energy wasted on mining is tremendously ridiculous.
I'd build something you'd actually use to game if you need an upgrade, you can just run -li 1 and use your computer when you aren't gaming unless your room is too warm or something. Apart from that, just buying is fine.
I'm telling myself a single 1070 is okay for me.
Yeah I use my 1070 rig for gaming when not mining. I'm ok with stopping the mining every now and then. Been using the laptop more and more though for gaming to just let the big rig mine.
Aztechnology
Member
Yea I looked into 1060's as well but managed to get lucky on an order of 480's at ~$210 a piece. If they come through.
As for the equipment also realize that equipment still has value after the mining is done. So you can factor that in somewhat.
Yup doing the same thing. I just pull it off the rack I built when I want to play and plug it back into my gaming comp.
Taken from /r/ethtrader, linking to: https://twitter.com/NicTrades/status/875113840345853952
A trader with history of predicting future rises for crypto claims ETH to hit USD$850 in 3 to 6 weeks. I don't see that happening, personally, but if it did, the inevitable correction afterwards would be vicious.
A trader with history of predicting future rises for crypto claims ETH to hit USD$850 in 3 to 6 weeks. I don't see that happening, personally, but if it did, the inevitable correction afterwards would be vicious.
Yeah my problem is I need that SLI for sweet 4k60 goodness lol
Mmm, I could see that only if the BTC fork is a disaster, which is further than 6 weeks out.
The thing with eth is that it will correct after big swings but it will continue to rise in the long term to eventually replace BTC as the defacto crypto that can actually be used for buying things as it isn't supply constrained, and then the fact that it does productivity things other than just being a crypto. Btc is just a hold investment, and if eth takes over it's market cap it won't even be that. Eth does have the problem of inflation over time which does fundamentally impact it's ability to have a high value per unit, especially if people actually are going to use it for day to day purchases. But I don't really think that's where it's main value lies. People will always use fiat for that as it's just easier. No one wants to buy something on Amazon for .0526478 ether on Amazon with a value that is constantly fluctuating more than any fiat.
Uni on Everything!
Member
For those of you using Coinbase, how high can you raise your limit for using a credit card and how long does it take? I've filled out all the info and verified everything that I can, but my limit is at $100 weekly. I bought some Eth with the $100 during the dip earlier but now it says "to increase your limit: wait 21 days" lol
Unfortunately I can't link my bank account at the moment because the service they use for that is currently down in my country.
Unfortunately I can't link my bank account at the moment because the service they use for that is currently down in my country.
You might as well just use ach, it locks in the price regardless of how long it takes to go through, unless you want to do a lot of trading. So if holding just use a bank purchase.
Oh I see, saw your edit. Yeah I dunno then.
walking fiend
Member
Yeah, moving averages flipped over again around 30 minutes ago. Should be safe to buy
I'm still putting stop limits. You can never know what to expect once you go to sleep Yeah, moving averages flipped over again around 30 minutes ago. Should be safe to buy
Here is what I have noticed.
Every day eth drops hard in the morning about 7am CST.
If you really want to make money trading it, buy then in the morning while dropping, sell after rise sometime fairly late at night, rinse and repeat.
It's a strange time for it to be dropping hard like that so I think there may be an active pump and dump scheme happening on a daily basis with large volume traders.
Give that a go and let us know how much it makes you.
I've been doing it this week and have made $200 profit buying $400 total in fiat.
Unknown Soldier
Member
Yeah, moving averages flipped over again around 30 minutes ago. Should be safe to buy
Where are you getting your MA charts?
It isn't just a couple day trend. If you look at the charts it's been happening for a couple weeks.
I was like hmm, why is it dropping every day like that?
MOON