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Cryptocurrency |OT| Nothing from Money

B

Brandson

Member
EmmaWatsonButt said:
Am I reading this right? There's another Bitcoin fork in December?
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Yes (on November 16), but you might not actually end up with 2 coins long term. It's complicated. One group (Segwit2X) is trying to upgrade Bitcoin with bigger blocks (2MB vs the current 1MB) to reduce transaction costs and delays. The other side, No2X or Bitcoin Core, believes bigger blocks can put Bitcoin's censorship resistant properties at risk. The Segwit2X side wants Bitcoin to behave more like a payments system. The Bitcoin Core side instead want it to remain only a store of value. The miners so far are preferring Segwit2X because they believe that they could make more money in the long run with bigger blocks. The end users are currently valuing Bitcoin Core higher because it is Bitcoin for now. I don't think most end users truly understand the benefits, and risks, of Segwit2X at all.

I personally think that upgrading a tiny block size to a slightly less tiny blocksize is a fair compromise to try to fix some problems that have been plaguing Bitcoin for a while, but Bitcoin Core doesn't see it that way. All the infighting from both sides could do more harm than good to Bitcoin in the short term. The whole thing has been very poorly explained. They all need to do a much better job of communicating this to the average Bitcoin holder who doesn't know much about the technology.
 
C

commish

Jason Kidd murdered my dog in cold blood!
Yankee Ruin X said:
For XBL? $1 is easy for it to achieve that, it has low supply of 3 million tokens so just needs a $3 million Mcap. Any decent sized marketing push that coincides with its new website, a working product and the listing on a new exchange will achieve that easily.
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I'll still maintain that it's unreasonable to expect a 500% increase on anything, let alone "easy". I've heard this same thing said about so many different cryptos the last few years, and 99% go nowhere. I don't have any XBL, but I hope you are right for your sake, though!
 
E

EmmaWatsonButt

Member
Donos said:
Mid November. Segwit 2x https://support.coinbase.com/customer/portal/articles/2892985-segwit-2x-faq
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Brandson said:
Yes (on November 16), but you might not actually end up with 2 coins long term. It's complicated. One group (Segwit2X) is trying to upgrade Bitcoin with bigger blocks (2MB vs the current 1MB) to reduce transaction costs and delays. The other side, No2X or Bitcoin Core, believes bigger blocks can put Bitcoin's censorship resistant properties at risk. The Segwit2X side wants Bitcoin to behave more like a payments system. The Bitcoin Core side instead want it to remain only a store of value. The miners so far are preferring Segwit2X because they believe that they could make more money in the long run with bigger blocks. The end users are currently valuing Bitcoin Core higher because it is Bitcoin for now. I don't think most end users truly understand the benefits, and risks, of Segwit2X at all.
Click to expand...

Whoops, meant another fork besides the 2x. Saw some talk of a "Bitcoin Silver" HF happening in December on reddit/4chan/crypto forums. Atleast for now I'm attributing it as #fakenews
 
Y

Yankee Ruin X

Member
Domino Theory said:
While XBY looks like a good project, its circulating supply is already at 427 million with a max of 650. This means that for XBY to even reach $1 is to have XBY surpass those like ARK and be up there with other major large caps in terms of market cap.

Do you guys actually see this happening? I feel like people don't take max supply into account enough when they say "omg 3 cent coin time for moon".
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It's Mcap is only $10 million so a x10 would need a $100 million Mcap which IF the tech they claim to have is legit then it would easily reach that and higher.

Also all 650 million coins are already in circulation but 120 million are currently locked in level 1 static nodes. When level 2 and 3 nodes go online another huge chunk of the circulation will be locked away in nodes further reducing active circulating supply. They are targetting an active circulation of around 100 million XBY once all nodes are online. The reduction in active supply alone should increase the SAT value of remaining XBY in theory.
 
C

CrazyHorse

Junior Member
Brandson said:
Yes (on November 16), but you might not actually end up with 2 coins long term. It's complicated. One group (Segwit2X) is trying to upgrade Bitcoin with bigger blocks (2MB vs the current 1MB) to reduce transaction costs and delays. The other side, No2X or Bitcoin Core, believes bigger blocks can put Bitcoin's censorship resistant properties at risk. The Segwit2X side wants Bitcoin to behave more like a payments system. The Bitcoin Core side instead want it to remain only a store of value. The miners so far are preferring Segwit2X because they believe that they could make more money in the long run with bigger blocks. The end users are currently valuing Bitcoin Core higher because it is Bitcoin for now. I don't think most end users truly understand the benefits, and risks, of Segwit2X at all.

I personally think that upgrading a tiny block size to a slightly less tiny blocksize is a fair compromise to try to fix some problems that have been plaguing Bitcoin for a while, but Bitcoin Core doesn't see it that way. All the infighting from both sides could do more harm than good to Bitcoin in the short term. The whole thing has been very poorly explained. They all need to do a much better job of communicating this to the average Bitcoin holder who doesn't know much about the technology.
Click to expand...

Theymos is responsible for the average holder not having a clue. He owns /r/bitcoin, bitcointalk.org and bitcoin.org. How did one kid get to own all three?

Also you forgot to mention Blockstream. They need to make money somehow. They need to create sidechains.
 
D

Domino Theory

Crystal Dynamics
Yankee Ruin X said:
It's Mcap is only $10 million so a x10 would need a $100 million Mcap which IF the tech they claim to have is legit then it would easily reach that and higher.

Also all 650 million coins are already in circulation but 120 million are currently locked in level 1 static nodes. When level 2 and 3 nodes go online another huge chunk of the circulation will be locked away in nodes further reducing active circulating supply. They are targetting an active circulation of around 100 million XBY once all nodes are online. The reduction in active supply alone should increase the SAT value of remaining XBY in theory.
Click to expand...

That sounds better. Which exchanges are they on?
 
C

Cipherr

Member
Whew, no second alt bounce so far, in fact most are all red again. And most alts never made it back to their October 1st values. LSK, IOTA, STRAT, OMG and tons of others. Even ARK was around 3 bucks on the first and its 2.59 now. Im pretty sure this means these two forks have suppressed alts pretty bad. I have everything in NEO atm, just going to wait for it to go up a small amount and jump to BTC.

Expecting a pump over the next few weeks leading to the fork.
 
B

Brandson

Member
CrazyHorse said:
Theymos is responsible for the average holder not having a clue. He owns /r/bitcoin, bitcointalk.org and bitcoin.org. How did one kid get to own all three?

Also you forgot to mention Blockstream. They need to make money somehow. They need to create sidechains.
Click to expand...

It's hard to summarize all the shenanigans in one post. 2MB blocks are only a very limited short term solution anyway. Bitcoin's transaction speed is way too slow to use it for applications that require thousands of transactions per second. Sidechains can still be an attempt to achieve that, even with 2MB blocks. Sidechains have their own problems anyway. In the interim, the transaction costs could be significantly cut down with 2MB blocks over 1MB blocks, as the average person won't have to throw so much money at miners to try to beat out other transactions into fitting in a block.
 
C

commish

Jason Kidd murdered my dog in cold blood!
Cipherr said:
Whew, no second alt bounce so far, in fact most are all red again. And most alts never made it back to their October 1st values. LSK, IOTA, STRAT, OMG and tons of others. Even ARK was around 3 bucks on the first and its 2.59 now. Im pretty sure this means these two forks have suppressed alts pretty bad. I have everything in NEO atm, just going to wait for it to go up a small amount and jump to BTC.

Expecting a pump over the next few weeks leading to the fork.
Click to expand...

Sometimes I don't feel like even looking at my crypto portfolio.
 
DonMigs85

DonMigs85

Member
Yankee Ruin X said:
For XBL? $1 is easy for it to achieve that, it has low supply of 3 million tokens so just needs a $3 million Mcap. Any decent sized marketing push that coincides with its new website, a working product and the listing on a new exchange will achieve that easily.
Click to expand...
Yup, when it was new it even briefly hit close to 50 cents.
 
puebla

puebla

Member
Are wallets really needed? I'm just trying to do some research as I'm thinking of jumping into ethereum and ripple.
 
G

GamerKingFaiz

Member
puebla said:
Are wallets really needed? I'm just trying to do some research as I'm thinking of jumping into ethereum and ripple.
Click to expand...

Are they necessary? No.
Are they recommended. Yes!

Technically if you buy ETH from an exchange you will be using a wallet tied to your exchange's account. But I assume you're talking about a personal wallet like MyEtherWallet, the Coinomi app, or the MetaMask Chrome extension?

These are highly recommended because this way you control your own private keys and if an exchange goes down or gets hacked you don't have to worry.
 
puebla

puebla

Member
GamerKingFaiz said:
Are they necessary? No.
Are they recommended. Yes!

Technically if you buy ETH from an exchange you will be using a wallet tied to your exchange's account. But I assume you're talking about a personal wallet like MyEtherWallet, the Coinomi app, or the MetaMask Chrome extension?

These are highly recommended because this way you control your own private keys and if an exchange goes down or gets hacked you don't have to worry.
Click to expand...
Okay thx, I'm leaning towards the wallets now. Just got some more reading to do.
 
Y

Yankee Ruin X

Member
DonMigs85 said:
Yup, when it was new it even briefly hit close to 50 cents.
Click to expand...

It actually already hit $1 when it was first listed from ICO but did not stay there for very long as people began dumping there ICO bags.

But yeah I like low MCap Alts, they are more risky but the gains to be had on them are more than worth the risk and if you do your research you can minimise that risk massively. To me XBL has very good potantial for lucrative gains. It’s entering a field where Mcaps are usually pretty high, it has a very low supply, it has a use with the raffle and many more games and poker on the way, Dev Team is super active and the best thing is they have a deflationary system that actually reduces that small supply even further by burning a certain % of XBL used in the raffle which should passively increase the price of each token as supply decreases.

TLDR - Shitcoins are great if you can find a good one amongst all the rubbish out there.
 
C

Cipherr

Member
commish said:
Sometimes I don't feel like even looking at my crypto portfolio.
Click to expand...

EmmaWatsonButt said:
Haven't done so in weeks, feelsbadman
Click to expand...

Yeah this is, annoying. I got busy at work today so I wasn't able to sell out of NEO until now but its dipped below my buy in point a bit. So I could sell 90 NEO at a 2$ loss into BTC and hold it for the rally to BTC (that may or may not happen) or just hold until late November when alts bump again?

Edit: removed incoherent nerd rage :(
 
A

Atuin

Member
Total newbie here, thinking about investing some money into cryptocurrencies. I'm very paranoid about linking my bank account to Coinbase. I've heard some rumors about bank accounts being frozen and I'd rather not risk my real life savings just for some some crypto coins. How risky is it to link your bank account and real life ID to Coinbase? If I link my secondary bank account can my primary bank account get frozen? I really don't know English banking terms but they're like 2 subsections within the same account. Also, if Coinbase freezes my account what are the chances of undoing it or are all my savings gone for good? I have no intention of investing more than 500$ or doing any gambling/other shady stuff so this might be a stupid question, but I get very nervous about these things.

Edit: Just to clarify, I'm totally okay if the cryptocoin's value crashes -99% since I'll be investing so little.
 
C

commish

Jason Kidd murdered my dog in cold blood!
Atuin said:
Total newbie here, thinking about investing some money into cryptocurrencies. I'm very paranoid about linking my bank account to Coinbase. I've heard some rumors about bank accounts being frozen and I'd rather not risk my real life savings just for some some crypto coins. How risky is it to link your bank account and real life ID to Coinbase? If I link my secondary bank account can my primary bank account get frozen? I really don't know English banking terms but they're like 2 subsections within the same account. Also, if Coinbase freezes my account what are the chances of undoing it or are all my savings gone for good? I have no intention of investing more than 500$ or doing any gambling/other shady stuff so this might be a stupid question, but I get very nervous about these things.

Edit: Just to clarify, I'm totally okay if the cryptocoin's value crashes -99% since I'll be investing so little.
Click to expand...

I'm not aware of any risk in linking your bank account to an exchange. You can always link it and then unlink it, right? You can also just wire money to an exchange, I believe.

I also don't know why Coinbase would freeze your account... Really, once you buy at coinbase, you should move it to your own personal wallet. At that point, there's nothing Coinbase, or anyone else, can do to your coins.
 
C

Cro-Magnon

Member
I'm seemingly unable to have xtrabytes-qt run on my ubuntu machine :(
Did you have any luck?

Should I use a windows machine to store my XBY? I'm not sure i want to keep them on the exchange
 
S

Sun Drugs

Member
Wow, the cryptocurrency world has changed so much in a short time. I got in back when GPU mining was a thing, Litecoin had just come out, and I mined a lot But I sold almost all my bitcoin when it hit $1,000 some years ago :(. Well at least what I kept turned into $100.

Is there a good resource for keeping up with all the news, updates, and just general info on the scene right now? Transaction times for BTC seem awful compered to what I remember it being, and I don't fully understand the upcoming forks.
 
D

Donos

Member
https://www.reddit.com/r/CryptoCurrency/ is not that bad although it certainly has shill threads but you usually don't miss major developments. I also look up Coindesk, Cointelegraph and other blogs about the cryptoworld.

A bit "neutral" info about some of the more popluar coins/tokens https://dontpanicsell.com/. Helped me at the start to find some interesting ones.

If you are bored and have too much money at hand: https://www.coinschedule.com/ to gamble a bit with ICOs. Rather good overview of whats upcoming / popular of the ICO flood out there.
 
G

GamerKingFaiz

Member
Sun Drugs said:
Wow, the cryptocurrency world has changed so much in a short time. I got in back when GPU mining was a thing, Litecoin had just come out, and I mined a lot But I sold almost all my bitcoin when it hit $1,000 some years ago :(. Well at least what I kept turned into $100.

Is there a good resource for keeping up with all the news, updates, and just general info on the scene right now? Transaction times for BTC seem awful compered to what I remember it being, and I don't fully understand the upcoming forks.
Click to expand...

Here's a good guide that includes all the basics as well as a run down on some of the more popular coins nowadays.
https://mycrypto.guide/
 
C

commish

Jason Kidd murdered my dog in cold blood!
Slayer-33 said:
Vertcoin again Jesus Christ

I have missed out a ton of times on the past what? 1 and a half weeks on the pumps

Smfh
Click to expand...

I don't understand what's going on with VTC. I only have a small bit of VTC. Wish I bought more. I still don't understand its use case compared to other currencies. Clearly others do though!
 
Y

Yankee Ruin X

Member
DonMigs85 said:
Darn, should have sold my XBL stash when it hit 30 cents then rebought.
Click to expand...

Not to rub it in but XBL listed on Etherdelta today and I was able to sell it at $1.40 for a while until the crowds came and started dumping big volumes into it and undercutting each other until the price crashed. I managed to shift 1500 XBL for 3.5 ETH so worked out at around $0.80 each in the end 😂

Bounced that over to Cryptopia and have my buy order set to buy 5.5k XBL at $0.20 and wait for the Coinexchange rocket 🚀😁
 
D

Donos

Member
RPX/NEO and GAS/NEO pairs on kucoin (India biggest exchange). Although good for NEO, I don't know if it's going to influence the price with segwit2x looming on the horizon.
 
DonMigs85

DonMigs85

Member
Xtrabytes seems to be having some drama over CCREVOLUTION, although from what I can see it's just one guy claiming to be a node owner who's whining the most.
 
gaming_noob

gaming_noob

Member
DonMigs85 said:
Xtrabytes seems to be having some drama over CCREVOLUTION, although from what I can see it's just one guy claiming to be a node owner who's whining the most.
Click to expand...

The complaints are relevant. They had some awesome knowledgeable guys like Jhar, Sam, CCNCCN, eggsandapam. All technical and approachable board members who left because CCRevolution is not a good leader.

Their new marketing director posted articles on 2 websites, one a week later on CoinTelegraph (donation money from the community) and it was the same lame ass article released to a smaller site a week ago. Lame and unprofessional title "has-xtrabytes-already-rendered-the-top-cryptocurrencies-obsolete"

This fucking big "Marketing Blitz" that they've been hyping to the investors on Slack and kept secret the past month is just their plan to have us, the community, to tweet/post on bitcointalk, Reddit, etc

Borzalom, the lead dev, I can trust him. But CCRevolution might run this into the ground with his incompetence.
 
gaming_noob

gaming_noob

Member
I honestly believe JHar and the rest of the ex board members would created a much more trustworthy community. CCRevolution is slimey and now someone is saying he was a marketer for mutlivitamins online? 😂

Don't get me wrong, I still think XBY will be a monster tech wise, but as an investor I think CCR is strangling the project.
 
Y

Yankee Ruin X

Member
Yeah I am interested in what Borz has to say but I imagine it will be along the lines that he fully supports CCR and will do until the end and that will be it.

I do agree that a lot of talent was lost when those board members left as well unfortunately.
 
gaming_noob

gaming_noob

Member
The more I think of it the more I want to jump off the XBY wagon. Their PoSign tech could be big though. Are there any other companies out there developing platform like what XBY is doing?
 
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