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Cryptocurrency |OT| Nothing from Money

F

Furyous

Member
Where's the best place to buy XRP with USD? I only have doge on hand but look to get into new cryptocurrencies and XRP seems like one of the promising ones. FollowCoin doesn't have another offering up so that's out the window.
 
B

Brandson

Member
gooderthanu said:
Anyone using google Authenticator? I'm worried about losing my phone and being screwed out of accounts (iOS here)
Click to expand...

You can't backup Google Authenticator codes unless your phone is rooted. And you most certainly should not root a phone you use for your crypto 2FA.

Instead, you should write out a copy of the initial private key created by the site when you scan the QR code, on a piece of paper and secure that. Or, print a copy of the QR code and store that (on paper, not on your computer). Since you can only do this when you make the 2FA association in the first place, what you can do now is disable and re-enable 2FA on each site, and then store the paper copies now. This will save you a world of hurt if you lose or damage your phone and get locked out of all of your crypto accounts. Then when you get a new phone, just scan the QR code or enter the private key in the app again, and it should work exactly the same way.
 
C

Cipherr

Member
Furyous said:
Where's the best place to buy XRP with USD? I only have doge on hand but look to get into new cryptocurrencies and XRP seems like one of the promising ones. FollowCoin doesn't have another offering up so that's out the window.
Click to expand...

Theres a lot of exchanges that trade xrp that have over 300k daily volume.

https://coinmarketcap.com/currencies/ripple/#markets

All of the list is there. Bittrex is the one Im most familiar with. Bittrex also has dogecoin, so you can send Doge to Bittrex, sell it for BTC then use BTC to buy the xrp you want.

gooderthanu said:
Anyone using google Authenticator? I'm worried about losing my phone and being screwed out of accounts (iOS here)
Click to expand...

When you set up Google Auth there's an image(QRcode) you scan to add it to the Auth app. Save that image; There's also an Alphanumerical code that is shown with the image. Save that text string alongside that image and put them on a thumb drive and delete them off of your pc. Store the thumb drive in your safe or something.

If your phone died tomorrow you would buy a new phone, pull out the thumb drive and open the picture of the QR code, scan it on your new phones Google Auth app, and re:add that 2fa and get back in to your accounts.

If you didn't save that QR code image, nor the text string. Go back and remove 2FA; then re add it immediately. You'll be given a new QR image and text string. Save them (at least one of them, the text string preferably since you can write it down and store it on paper) this time.
 
P

pieface

Member
Weekend dump. Good time to shop. Ark holding up very well.

Portfolio down 15k in about 6 hours. Fuck you bitcoin fudders.
 
bigedole

bigedole

Member
gooderthanu said:
Anyone using google Authenticator? I'm worried about losing my phone and being screwed out of accounts (iOS here)
Click to expand...

I use it. I haven't considered what I would do in the event of misplacing my phone, though... :)

Just to clarify, I've stored the pass key I got from bittrex offline. I like having the 2fa, gives me a lot of peace of mind and it's very simple.
 
D

Donos

Member
bigedole said:
I use it. I haven't considered what I would do in the event of misplacing my phone, though... :)
Click to expand...

You have to contact support of the exchanges you have 2FA enabled and sort it out, if you don't save these private codes/QR codes. Been there, done that (sent in phone to repair and wiped it before, not thinking about the 2FA). Was pretty painless, except Poloniex which put me through a major hassle process.

Now i save these 2FA codes always into my Keepass database. No need to print it out or store it on a stick etc.
 
T

Tk0n

Member
csquared587 said:
So the "China bans exchanges!?!" stuff im seeing on reddit is just a rumor, right? crazy how a rumor + friday causes such a tremor.
Click to expand...

i think its more the overall situation.
market is still nervous. the mini correction over the last week did not really "correct" the rise of btc in the last months. the china coin news doesnt help either. it has been growing too fast.
for now its not too bad, but if btc drops far below 4k, it could get ugly.
 
bigedole

bigedole

Member
pieface said:
Weekend dump. Good time to shop. Ark holding up very well.

Portfolio down 15k in about 6 hours. Fuck you bitcoin fudders.
Click to expand...

Considering it's unlikely you've lost more than 20%, you have a lot in crypto! You're gonna be very rich in a few years hehe....hopefully... :p

I've got 6 figures tied up in regular investments, 401k, roth IRA, some stocks etc. I just can't bring myself to move more than a few thousand into crypto. Even then, I like to daydream that my initial 1 btc investment will yield 6 figures in 15 years hehe.
 
J

Jiraiza

Member
Donos said:
Well, someone paying out the most now is not guaranteed to pay out most forever. I just read through some proposals on reddit and liked what Jarunik wrote the most and saw that his payout is was not bad. So i voted for him. Also some delegates have some "measures" for delegate hoppers.
Click to expand...

Cipherr said:
There's a lot to look at. For example, transaction fees. Let's say for example the transaction fee is .25 Ark per transaction. You need to look at the chart and see if your delegate pays the tx fee FOR you, or if they pass the tx fee on TO you. For example, if you generate .26 per day, and the tx fee is .25 per day also and your Delegate pays out 1 time per day, then you really have a gain of .01 per day after that fee is paid.

I think you also need to look at how many times your delegate actually pays out per day, some of them pay out 4 times a day, that's 4 tx fees per day if they are passing that cost on to you. Make sure you are coming out ahead. Also some delegates only pay out if you hit a certain amount. like 2 ark min payout, if you cant hit that threshold, make sure they allow accumulation (Running balance) and will pay you out once your payouts total up to 2.
Click to expand...

Cool, thanks for the info. I should probably kick myself for choosing yin without doing my research, but I may go with arkpool or Jarunik. Or just get 250 ARK and stick with yin so I don't waste that one ARK I spent voting.
 
T

The Rizza

Member
Sorry for the late response, was watching It (pretty tense btw!) it was on C-Cex. Maybe not the best of exchanges, but it was where I have all my XBY. And yea what Brandson said about using a 2FA app. I personally use the Google one
 
J

jamsy

Member
Wow, so I picked a horrible time to buy BTC, haha.

Already down like $300+ and I don't even get my coin until my transfer clears next week.
 
C

Cipherr

Member
Tk0n said:
but by then, it may be back up to the price you bought for ;)
Click to expand...

Would be a crazy swing of emotion if by the time his xfer went through it crashed through 5k.

Jiraiza said:
Cool, thanks for the info. I should probably kick myself for choosing yin without doing my research, but I may go with arkpool or Jarunik. Or just get 250 ARK and stick with yin so I don't waste that one ARK I spent voting.
Click to expand...

Yeah be careful with re-voting. The ARK you used to vote is, well "spent". You don't get it back when you unvote. So unvoting and revoting is going to cost you roughly 2 ark, plus you lose the 1 ark you already spent. At $2.50 or so, that sucks, small amount or not.
 
D

DrM

Redmond's Baby
csquared587 said:
So the "China bans exchanges!?!" stuff im seeing on reddit is just a rumor, right? crazy how a rumor + friday causes such a tremor.
Click to expand...

Yep, rumors do tremble crypto scene like crazy. Those rumors also produced that epic dump this afternoon.
 
C

Cipherr

Member
Public Notice of the PBC, CAC, MIIT, SAIC, CBRC, CSRC and CIRC on Preventing Risks of Fundraising through Coin Offering
http://www.pbc.gov.cn/english/130721/3377816/index.html


Public Notice of the PBC, CAC, MIIT, SAIC, CBRC, CSRC and CIRC on Preventing Risks of Fundraising through Coin Offering


Recently, a large number of fundraising activities through issuing tokens including Initial Coin Offering (ICO) have taken place in China, giving rise to speculation and inviting suspicion of illegal financial activities. These activities have disrupted the economic and financial order. To implement the spirit of the National Financial Work Conference, protect the legitimate rights and interests of investors and manage financial risks, and in accordance with Law of the People's Republic of China on the People's Bank of China, Law of the People's Republic of China on Commercial Banks, Law of the People's Republic of China on Securities, Law of the People's Republic of China on Cyber Security, Regulation of the People's Republic of China on Telecommunication, Measures for Banning Illegal Financial Institutions and Illegal Financial Business and Activities, and other laws and regulations, the relevant matters are hereby announced as follows:

I. The Essential Attributes of Fundraising Through Coin Offering

Financing through coin offerings refer to financing bodies raising virtual currencies such as Bitcoin or Ethereum from investors through illegal sales and circulation of crypto currency or tokens. Such offerings, in essence, are unauthorized and illegal public fundraising and are suspected of involving in criminal activities such as illegal selling of tokens, illegal issuance of securities, illegal fundraising, financial fraud and pyramid schemes. The competent authorities will closely monitor the related developments, strengthen coordination with the judicial departments and local governments, strictly enforce the law and work based on the current mechanism, and resolutely clamp down on market irregularities. Any suspected crimes, once identified, will be transferred to judicial department.

The token or ”virtual currency" used in coin offerings are not issued by the monetary authority. Such currency does not have characteristics of money such as legal tender status and mandatory use, has no legal status equivalent to money, and cannot be circulated or used as currency in the market.

II. No Organizations or Individuals Shall Engage in Illegal Fundraising through Coin Offering

From the date of release of this Notice, fundraising through coin offering shall be banned immediately. Any individuals or organizations that have completed fundraising through coin offering shall make arrangements to return the funds raised, and to ensure that the legitimate rights and interests of the investors are protected and the risks involved are properly managed. The government departments concerned will strictly investigate and address the coin offering activities that have continued despite the ban and the illegal activities in the projects that had completed fundraising.

III. Management of Related Platforms Shall be Strengthened

From the date of release of this Notice, any so-called platform that provide trading and exchange services for coin offering shall not engage in exchange businesses between legal tender and token or ”virtual currency"; or engage in proprietary trading activities or trading as an central counterparty of tokens or ”virtual currencies"; or provide pricing services or act as information intermediary for tokens or ”virtual currencies".

As for the trading platforms with activities that have violated laws or regulations, the financial regulatory authorities will notify the administrative department in charge of telecommunications to adopt measures such as shutting down its website platform and mobile APP, notify the administrative departments in charge of cyberspace to remove its mobile APP from the APP store, and notify the business administration department to revoke its business license.

IV Financial Institutions and Non-Bank Payment Institutions Shall Not Conduct Businesses Related to Coin Offering Fundraising and Trading

Financial institutions and non-bank payment institutions shall not directly or indirectly provide product or services such as account opening, registration, trading, clearing and settlement for fundraising through coin offering/”virtual currencies"; or insure businesses related to tokens/”virtual currencies" or include tokens/”virtual currencies" in the insurance coverage. Once clues of illegal coin offering fundraising and trading is identified, financial institutions and non-bank payment institutions shall promptly report to the departments concerned.

V. The Public Need to Stay Aware of the Risks of Coin Offering Fundraising and Trading

There are multiple risks in coin offering fundraising and trading, including risk of false asset, risk of operation failure, risk of speculation, and etc. The investors shall take investment risks on their own and be cautious of frauds and scams.

The public shall be aware of the risks and learn to identify the illegal financial activities in the name of "currency" (”bi" in Chinese), and report clues of illegal activities in a timely manner.

VI. Self-regulatory Organizations Shall Exercise Industry Self-Regulation

To keep financial activities in order, all kinds of self-regulatory financial organizations shall interpret policy properly, urge members to consciously resist illegal financial activities related to coin offering fundraising and trading or ”virtual currencies", and to stay away from market irregularities and improve investor education.
Click to expand...


From People's Bank of China. The bolded worries me about places like Binance. Im having trouble parsing if they want all exchanges to stop trading period, even coin to coin. Or just the ones that allow fiat to coin trading/conversion. Sounds like its just banning fiat to coin though.

I can see why the market is dead red though. That looks gloomy for ICO's
 
D

DrM

Redmond's Baby
Looks like ICOs are fried in China according to that Bank of China notice. I also understand bolded as ban of fiat to coin trading.

But still, this can have a big impact on trading in next few weeks.

Well, looks like we will have another red weekend :p
 
C

Cipherr

Member
DrM said:
Looks like ICOs are fried in China according to that Bank of China notice
Click to expand...

mwAKCG9.gif

QjrzAfj.png



Jzero said:
Shit, everything is way down right now and i have no money to buy fml
Click to expand...

I sort of feel the same. The bank ACH xfers take days and Im waiting on 2 of them. Nothing I can do right now.
 
B

Brandson

Member
DrM said:
Looks like ICOs are fried in China according to that Bank of China notice. I also understand bolded as ban of fiat to coin trading.

But still, this can have a big impact on trading in next few weeks.

Well, looks like we will have another red weekend :p
Click to expand...

This is just an official English translation of last weekend's notice. There's nothing new there that wasn't already known last weekend.
 
C

csquared587

Member
ARKs stability makes me want to put 100% of my investment into it, but I think in the long run my position is fine. I just wonder when that damn wall will bust lol.

Right now I have about 50% in ARK, and 25% in both LTC and OMG. Slowly pumping more fiat in as I can. How do you guys feel about Litecoin long term?
 
D

Drifters

Junior Member
csquared587 said:
ARKs stability makes me want to put 100% of my investment into it, but I think in the long run my position is fine. I just wonder when that damn wall will bust lol.

Right now I have about 50% in ARK, and 25% in both LTC and OMG. Slowly pumping more fiat in as I can. How do you guys feel about Litecoin long term?
Click to expand...
$LTC is going nowhere but up. I'm only planning on buying $BTC and $LTC as I don't really see the value in $ETH. Future payment platforms is kinda a crap shoot between the two and alt coins are like Vegas.

Personally, I think it's up to the buyer how they want to diversify their portfolio.
 
C

commish

Jason Kidd murdered my dog in cold blood!
csquared587 said:
ARKs stability makes me want to put 100% of my investment into it, but I think in the long run my position is fine. I just wonder when that damn wall will bust lol.

Right now I have about 50% in ARK, and 25% in both LTC and OMG. Slowly pumping more fiat in as I can. How do you guys feel about Litecoin long term?
Click to expand...

I have the most money into LTC. So, I think highly of it :) ARK is my favorite "cheap" coin and the one I am buying more of.
 
D

DrM

Redmond's Baby
Everything red, only ARK and LSK are in green.

ARK is having a huge buy wall at 60k. That was a nice deal that I made yesterday when dump occured :)
 
D

Donos

Member
Ripple sued for "some" XRP coins

#MARKET NEWS
SEPTEMBER 8, 2017 / 7:15 PM / UPDATED 14 HOURS AGO
Blockchain startup R3 sues competitor Ripple
Anna Irrera
NEW YORK, Sept 8 (Reuters) - New York-based blockchain startup R3 Holdco LLC has sued rival company Ripple Labs Inc. over a contract to purchase Ripple’s digital currency XRP, according to a lawsuit filed in the Delaware Chancery Court on Friday.

R3 and Ripple are two of the most well known blockchain companies and are both backed by large banks.

ADVERTISEMENT
ADVERTISEMENTSCROLL TO CONTINUE WITH CONTENT
In September 2016 the two companies had entered an agreement giving R3,the right to purchase up to 5 billion XRPs at a price of $0.0085 per unit at any point by September 2019, according to the lawsuit.

In June 2017 Ripple’s chief executive Brad Garlinghouse attempted to terminate the options contract through an email to R3’s chief executive David Rutter, according to the lawsuit.

R3 alleges that the contract does not give Ripple the right to terminate it unilaterally and is asking the court to declare that it is entitled to all its rights, including purchasing the XRP anytime over the next two years.
Click to expand...
XRP, which is a virtual currency that is traded against the U.S. dollar on cryptocurrency exchanges online, has soared in value to $0.21 since the companies entered in the options agreement, according to CoinMarketCap.com.This would make the option contract worth more than $1 billion.
Click to expand...

https://www.reuters.com/article/r3-...artup-r3-sues-competitor-ripple-idUSL2N1LP181
 
bigedole

bigedole

Member
Someone is pumping ARK really hard right now! Going to bed, I'm guessing we'll be back down to 575 or so by the time I wake up hehe.
 
gaming_noob

gaming_noob

Member
csquared587 said:
ARKs stability makes me want to put 100% of my investment into it, but I think in the long run my position is fine. I just wonder when that damn wall will bust lol.

Right now I have about 50% in ARK, and 25% in both LTC and OMG. Slowly pumping more fiat in as I can. How do you guys feel about Litecoin long term?
Click to expand...

I'm tempted every day to do the same asARK's delegate system means I invest and just sit back and earn free ARK. I'm not currently stacking my NAV or XBY because leaving a laptop on is not an option. The question is ultimately which of my investments has the highest potential to earn me th biggest dollars. If NAV highest potential is $6-8 then I may as well dump and put it all into ARK as I believe ARK will be a couple times higher. Unfortunately this is unpredictable.
 
D

DrM

Redmond's Baby
Are there any infos what are the reasons for ARKs rise in the last two days?

Going towards 75k!
 
C

CaptainZombie

Member
Some whale just shot up OMG, damn. I was hoping for a slight pull back.

Congrats to you guys holding ARK, broke the $3.00 mark finally. I wish I would of kept mine when I had it at $1.50. :(
 
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