• Hey, guest user. Hope you're enjoying NeoGAF! Have you considered registering for an account? Come join us and add your take to the daily discourse.

Cryptocurrency |OT| Nothing from Money

C

Cipherr

Member
Report coming out saying China plans to merely regulate a bit, not shut anything down.

Virtual Currencies Expected to be Regulated in China on October 1st

The incorporation of virtual currencies into China's ”General Principles of the Civil Law" legislation suggests that China's recent crackdown on virtual currency exchanges will not be expanded into a nationwide prohibition on the use and possession of cryptocurrencies. Jinse reinforces this inference, stating that ”regulators have never mentioned the issue of prohibiting bitcoin from beginning to end, that is to say, the government level does not think that there is a problem with the bitcoin itself"
Click to expand...

NEO and Gas soaring all day probably because of it.

Edit: Also, no way this news wasnt leaked prior to now to some people. It explains why NEO and GAS exploded 3 days before this report comes out. Someone knew, and started the buy frenzy. At this point its damn near priced in already. I cant prove that, but seriously, NEO was in the dumps for weeks, then 3 days ago, with zero news out, it just surges HARD back up to the mid 30's.

Reeks of some people knowing ahead of time.
 
D

Drifters

Junior Member
Cipherr said:
Report coming out saying China plans to merely regulate a bit, not shut anything down.

Virtual Currencies Expected to be Regulated in China on October 1st



NEO and Gas soaring all day probably because of it.

Edit: Also, no way this news wasnt leaked prior to now to some people. It explains why NEO and GAS exploded 3 days before this report comes out. Someone knew, and started the buy frenzy. At this point its damn near priced in already. I cant prove that, but seriously, NEO was in the dumps for weeks, then 3 days ago, with zero news out, it just surges HARD back up to the mid 30's.

Reeks of some people knowing ahead of time.
Click to expand...
Insider trading!? I’m shocked not shocked.gif
 
S

syllogism

Member
Voted on and passed on March 15th? Doesn't sound very secret. I tried to look up the relevant provisions, but couldn't find the whole text. I did find some sources referencing article 127, which talks about protection of data and virtual property, which may or may not also refer to virtual currencies, but is certainly not limited to them.
 
D

Domino Theory

Crystal Dynamics
Anyone heard about or use coinflash? Saw it on Lifehacker. It's like acorns but for crypto currency where they invest your spare change from your linked cards and bank accounts into Bitcoin or ethereum using coinbase.

Sounds like a great idea but they charge $1 a month along with paying for coinbase's fees per transaction so I'm hesitant on it.
 
D

Drifters

Junior Member
Also in reading through that whole reddit post, Oxy just dumped the remainder of their 110 BTC to Bittrex so expect a sharp rise in $ARK now. Seems like this ICO business needs to get shorted since using other coins to stake, delegate etc. is a bad model.
 
T

Tk0n

Member
official statement from the oxy team is that they only sold between 7th and 10th of september. before the dive.
The orders:
https://oxycoin.io/ark_orders.pdf

also, i dont think the oxy team had/has enough ark collected via the ico to be responsible for this long sustained dive. the whole ico, with all supported coins, not just ark, but btc, lisk, rise and so on, was just 6 million. still think its shitty politics to dump while your ico is still running but theyre no evil price manipulating masterminds ;)

i put a bit of money into the oxy ico. sure leaves a bitter taste.
 
C

Cipherr

Member
Tk0n said:
official statement from the oxy team is that they only sold between 7th and 10th of september. before the dive.
The orders:
https://oxycoin.io/ark_orders.pdf

also, i dont think the oxy team had/has enough ark collected via the ico to be responsible for this long sustained dive. the whole ico, with all supported coins, not just ark, but btc, lisk, rise and so on, was just 6 million. still think its shitty politics to dump while your ico is still running but theyre no evil price manipulating masterminds ;)

i put a bit of money into the oxy ico. sure leaves a bitter taste.
Click to expand...

Thats weird then. I dont know what to say. Maybe its just whales, but something is up. When the market and BTC as a whole start trending up and make gains ARK follows, then gets trapped behind huge walls and suppressed seemingly every time until the day end and volume naturally dissipates and bam. Another close below 3$ over and over. The swings are so reliable that I've been able to sell around 3.18 to 3.30 before the inevitable big ass walls show and stop all the momentum then rebuy at $2.97 at night.

I guess.... it could just be coincidence, but eh... Never seen anything like it with the other coins I move.
 
S

syllogism

Member
This ADA token that got added to Bittrex is going to be an expensive mistake to a lot of people if I'm doing the math correctly. Their report says they sold 25,927,070,538 tokens during ICO, which mostly occurred before BTCs rise this year. The report claims that they got 108844.5 BTC overall. It's currently trading at a bit over 0.000004 BTC, which would put its marketcap at almost 500 million, which is of course absurd. Worse yet, it spiked to 0.00002 briefly, which would translate to over 2 billion.
 
D

Drifters

Junior Member
So, I'm having a hard time with these "transaction" fees on transfer from exchanges to wallets and vice versa. It basically eats part of the coin that was bought but the trade off (if I'm ready all the information correctly) is that the coin is then "yours" given that it lives in a permanent address location and not "shared" on a block within the exchange.

My gripe (if there is one) is there anything on the horizon to cut down on this? Seems like it's a) cost of doing business and b) tough bricks.
 
C

Cipherr

Member
Drifters said:
So, I'm having a hard time with these "transaction" fees on transfer from exchanges to wallets and vice versa. It basically eats part of the coin that was bought but the trade off (if I'm ready all the information correctly) is that the coin is then "yours" given that it lives in a permanent address location and not "shared" on a block within the exchange.

My gripe (if there is one) is there anything on the horizon to cut down on this? Seems like it's a) cost of doing business and b) tough bricks.
Click to expand...

Thankfully relief is on the way. All or most of the transfer fees are partially the Exchange themselves making money on commissions, and part inefficiencies in the coin itselfs designs that make it expensive per transaction. That's not even factoring in the transaction TIMES which can be slow as dogshit on some coins.

Most coins are modifying their cores/code in some ways to lower the transactions fees and times. Stuff like the Segwit upgrade and more are supposed to make many coins cheaper to transact when sending from one place to another. And also some exchanges are getting better with the commission fees too. Bittrex fee is 2.5x higher than Binances (a newer exchange) for example. And I think Binance even allows some trades under ETH at no cost.

So overall its getting better. But in a pretty bad place atm. Its annoying watching your money be chipped at just because you are trying to keep it safe in wallets.
 
D

Drifters

Junior Member
Cipherr said:
Thankfully relief is on the way. All or most of the transfer fees are partially the Exchange themselves making money on commissions, and part inefficiencies in the coin itselfs designs that make it expensive per transaction. That's not even factoring in the transaction TIMES which can be slow as dogshit on some coins.

Most coins are modifying their cores/code in some ways to lower the transactions fees and times. Stuff like the Segwit upgrade and more are supposed to make many coins cheaper to transact when sending from one place to another. And also some exchanges are getting better with the commission fees too. Bittrex fee is 2.5x higher than Binances (a newer exchange) for example. And I think Binance even allows some trades under ETH at no cost.

So overall its getting better. But in a pretty bad place atm. Its annoying watching your money be chipped at just because you are trying to keep it safe in wallets.
Click to expand...

It's almost like we need a blockchain to transfer other coins safely and securely for a low, low transaction fee. :)
 
D

Drifters

Junior Member
Anyways... slightly off-topic but on-topic, do we have anyone on here with a large $ARK contingent that I can vote for? Figured it's worth getting the $ARK coin to do something and help out fellow Gaffers.
 
D

DrM

Redmond's Baby
ARK should be listed on several large exchanges and there would be far less options for manipulation
 
C

Cipherr

Member
Donos said:
Damn at WTC. What is feeding this? FOMO ala "same as NEO" ?
Click to expand...

I'm assuming so. Ugh. Im never putting money there until it corrects hard. Im so salty about it though. I wanted in when it was 1.90 ish, but wanted to wait for China to play its hand, then buy in. I accepted that I wouldnt be at the bottom by waiting for China news but I thought I would at least get in on it and be able to hold.

Instead it 6x'd before any official Chinese news even came OUT. Then the news comes out when its at 7x, and Im like.... "yeeeeeah Im not touching it now."
 
C

criesofthepast

Member
Donos said:
Damn at WTC. What is feeding this? FOMO ala "same as NEO" ?
Click to expand...
Hang me. Give me a rope and hang me. WTC price pains me. I wish I could go back in time 2 weeks.

What is the next shitcoin that is under a buck that I can buy? lol

m_shortpants said:
I kind of want to load up on XVG just so I can have 1M of a currency.
Click to expand...
Make your own currency. Takes maybe an hour. Just change some variables in the bitcoin source code (I would use litecoin as its faster) and make a shortpants coin and mine it.

We should totally create a shitcoin together guys and have an ICO as it is all the rage right now and become millionaires. 🕶
 
S

Sulik2

Member
criesofthepast said:
Hang me. Give me a rope and hang me. WTC price pains me. I wish I could go back in time 2 weeks.

What is the next shitcoin that is under a buck that I can buy? lol


Make your own currency. Takes maybe an hour. Just change some variables in the bitcoin source code (I would use litecoin as its faster) and make a shortpants coin and mine it.

We should totally create a shitcoin together guys and have an ICO as it is all the rage right now and become millionaires. ��
Click to expand...

Call it GAFCoin (GAF) and use the Papyrus font for the branding lol.
 
T

The Rizza

Member
criesofthepast said:
Hang me. Give me a rope and hang me. WTC price pains me. I wish I could go back in time 2 weeks.

What is the next shitcoin that is under a buck that I can buy? lol
Click to expand...

I’m with ya. Reading up on WTC a few weeks back, but just couldn’t get myself to get any for some stupid reason. Kicking myself now lol
 
DonMigs85

DonMigs85

Member
It seems nigh-impossible to predict which coins are gonna blow up within 3-6 months of launching. I think the only possible exceptions were Antshares/NEO and maybe Omisego
 
T

Tk0n

Member
WTC had crazy pumps from the beginning. all the china fud (with it being an asian coin, only being on binance and the ico refund) just put on the breakes for a while and made it a rollercoaster. the "potential" to go big was always there. especially with the low supply.

I just wish my nav, qrl and ark wouldnt eat all my wtc revenue :D
 
T

TheLostBigBoss

Banned
Too crazy to hop from coin to coin.

I found my baby and I'm just gonna hold for a while with ARK, I could make money putting more money into crypto, but I value my time and sanity more than a potential gain of a few hundred bucks
 
B

Brandson

Member
I think the declining ETHBTC ratio can be partly explained by the fact that Ethereum had another hard-coded hash difficulty increase near the end of September, resulting in a longer wait between new blocks being mined. Metropolis was initially supposed to come out before this increase but missed the date by a few weeks. The ETH hash rate has since dropped a bit due to the mining being less profitable, and the price has stagnated. Once Metropolis takes effect (currently due October 17, but could be pushed back more), the mining and hash rate issues will be corrected. If Metro is further delayed, the price could sag some more as the negative effects of the current hash rate persist. As long as Metro launches by Devcon at the beginning of November, I'm expecting quite a pump on ETH then.
 
D

DrM

Redmond's Baby
I wonder where will BTC end or better, where will it end after correction.

I will have some money available on 13th, so I am currently torn between three possibilities:
a) Keeping it in reserve
b) get more BTC
c) get more ETH
 
B

Brandson

Member
DrM said:
I wonder where will BTC end or better, where will it end after correction.

I will have some money available on 13th, so I am currently torn between three possibilities:
a) Keeping it in reserve
b) get more BTC
c) get more ETH
Click to expand...

A split between each might be appropriate then. ETH is due to pump when its upgrade launches this month, and has a multi-day conference at the beginning of November. BTC is also getting a fork sometime in November. I don't know the exact date. Holding BTC before the fork might be worthwhile again, especially since it's much less clear which will be the dominant coin between regular Bitcoin and Segwit2x Bitcoin. I think we are seeing some of that pre-fork accumulation happening already.

It is really hard to say which will have the better month at this point. ETH is a bit depressed at this moment, so it could explode more than BTC, but BTC could also hit $6-7k by the fork. Several analysts believe $600 ETH is likely as well.
 
C

Cipherr

Member
Im assuming alt coins are going to get even more red than they are today in comparison to BTC leading up to the split right? People selling altcoins to put their money into BTC so they can get those extra coins from the BTC split? The time leading up to that might be a really good chance to buy alts at depressed prices.
 
C

criesofthepast

Member
OMG sucks ass. Can't believe I left WTC for it.

http%3A%2F%2Fmashable.com%2Fwp-content%2Fuploads%2F2013%2F06%2FJack-Nicholson.gif
 
D

Donos

Member
Hope nobody has any ATS (Authorship) token anymore. That token just died. 70% down last night and is now worth dirt. It's still only on Etherdelta and not even listed on coinmarketcap.com.

Sucks that i have 200€ stuck on kraken for 72 hours. Want to shop a bit. Prices are looking good :)

Would not worry about OMG. That thing is a promising project.
 
C

Cipherr

Member
Donos said:
Hope nobody has any ATS (Authorship) token anymore. That token just died. 70% down last night and is now worth dirt. It's still only on Etherdelta and not even listed on coinmarketcap.com.

Sucks that i have 200€ stuck on kraken for 72 hours. Want to shop a bit. Prices are looking good :)

Would not worry about OMG. That thing is a promising project.
Click to expand...

Lol I forgot all about it. How much was it worth at its peak? I never even bothered to look to see if it was on an exchange
 
C

Cipherr

Member
The market should recover completely by about noon Thursday to be exact. That's when my ~$900 ACH to coinbase is set to process. And since my luck is shit and I always end up waiting on transfers when the market is red like this and I could be dollar cost averaging nicely, we can be sure that everything will recover nicely by that point so that Im presented with the options of just sitting on it, or buying at ATHs.

Just hodl for 2 days guys. Guaranteed.
V3aS6Ob.png
 
DonMigs85

DonMigs85

Member
I have 685 ATS, but I got them free so I'm not worried too much.
Is it likely that when Bitcoin forks again, you basically get double your money like last time? Gotta sell all my altcoins for BTC a day or two before the split then. I missed out the last time.
 
You must log in or register to reply here.

Similar threads

Sony is going to go full Blockchain in a few years
News Business 2 3
113
6K
Danknugz replied
NVIDIA says cryptocurrencies add nothing to the society
Business
26
3K
AJUMP23 replied
The ESRB has started slapping blockchain games with Adults Only ratings, so Epic has changed its store policy to allow them
News Business
2
1K
Zathalus replied
Square Enix President Yosuke Matsuda Asserts Commitment to NFTs, Blockchain Games
News Cringe Game Dev
22
2K
Eddie-Griffin replied
Square Enix NFT Art Project ‘Symbiogenesis’ Reveals Main Visual Teaser Trailer
News Game Dev
17
2K
TransTrender replied
Top Bottom