• 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

X

x3sphere

Member
Brandson said:
I feel like ETH is about to dip at any moment, but I'm too chicken to act on it. Just posting this for posterity I guess.
Click to expand...

The one thing I am worried about is people dumping large amounts of ETH into these ICOs. I saw one for a project call Bancor the other day, and they raised almost 400K ETH. If it gets out of control and people start funding outright scams this would be bad. Hopefully it doesn't happen, but I am getting the sense a lot of people aren't doing their due diligence.

Not saying Bancor is a scam btw, I'm not really sure how to feel about it, just the amount of ETH they raised seems crazy to me for a team that is mostly unproven
 
W

walking fiend

Member
Brandson said:
I maybe wouldn't go as far as avoiding all altcoins, since I can see the need for at least some distributed apps to be successful if crypto is really going to succeed as a platform, but I am highly suspicious of the need of many of those apps to have their own proprietary coins.

I feel like people are going to regret participating in this ICO next: https://www.tenx.tech/. Their mobile app and card sound great, but why do they need a billion dollars? Why do they need their own coin at all? More important people than me need to be asking that question of the entire crypto developer community.
Click to expand...
True, but most of the proposed projects are months if not years behind being production ready. Take a look at the roadmap for Siacoin, for example. Although it is a completely legit project and the developers are actually doing something worthwhile with it, still it is no way worth the market cap that it has:
https://trello.com/b/Io1dDyuI/sia-public-roadmap

x3sphere said:
The one thing I am worried about is people dumping large amounts of ETH into these ICOs. I saw one for a project call Bancor the other day, and they raised almost 400K ETH. If it gets out of control and people start funding outright scams this would be bad. Hopefully it doesn't happen, but I am getting the sense a lot of people aren't doing their due diligence.

Not saying Bancor is a scam btw, I'm not really sure how to feel about it, just the amount of ETH they raised seems crazy to me for a team that is mostly unproven
Click to expand...
That is INSANE! 150 million dollar for an ICO?

This makes my head spin. I am wondering if I should perhaps pull out of the market for a while; at least take out my seed out. It seems too volatile; I bet once the market flips or if bitcoin fork causes a crash, it just gonna be a zoo for some time
 
S

sunofsam

Member
DonMigs85 said:
I have like $100 in siacoin right now. That's probably more predictable at this point than ECC, right? And I also like the fact it's traded on bittrex
Click to expand...
ECC is a gamble, however Sia is/was as well.

SC was only recently added to Bittrex.

But yeah, Sia may be the safer bet at the moment.


I have stake in both.
 
F

Fluffernutter Pancake

Member
DonMigs85 said:
I have like $100 in siacoin right now. That's probably more predictable at this point than ECC, right? And I also like the fact it's traded on bittrex
Click to expand...

sunofsam said:
ECC is a gamble, however Sia is/was as well.

SC was only recently added to Bittrex.

But yeah, Sia may be the safer bet at the moment.

I have stake in both.
Click to expand...

SIA is more stable than ECC right now, guaranteed, because it is ~1.5 cents ($0.015) and has had its major run.

ECC may be a rollercoaster ride in the near-term, but seems to just be getting started and is only 0.09 cents ($0.0009).

There is going to be a very strong push over the next few weeks/months by the dev team & supporting community to get ECC listed on Bittrex. Check the Bitcointalk forum thread for details.

When that happens, I'd expect a value on the order of 1 cent.

So I'd say SIA is medium risk, with possibility of 10x returns in the medium to far term and possibility of 30-50% loss in near to medium term.

ECC is high risk, with the possibility of 80% loss in the near/medium/far term, the possibility of 2-10x profit in the near term, and possibility of 10-1000x profit in medium to far term.
 
B

Brandson

Member
walking fiend said:
That is INSANE! 150 million dollar for an ICO?

This makes my head spin. I am wondering if I should perhaps pull out of the market for a while; at least take out my seed out. It seems too volatile; I bet once the market flips or if bitcoin fork causes a crash, it just gonna be a zoo for some time
Click to expand...

Runaway ICOs might pose an existential threat to public blockchains. I am quite worried about a big crash actually. ETH getting to $1000+ seems inevitable. I just don't know if it's going to $1 first. I only have disposable funds invested so I might keep it in to weather the storm but the chances of bad things happening soon is increasing.

I actually think crypto could use some regulating, at least with respect to ICOs.
 
K

Kenstar

Member
Brandson said:
Runaway ICOs might pose an existential threat to public blockchains. I am quite worried about a big crash actually. ETH getting to $1000+ seems inevitable. I just don't know if it's going to $1 first. I only have disposable funds invested so I might keep it in to weather the storm but the chances of bad things happening soon is increasing.

I actually think crypto could use some regulating, at least with respect to ICOs.
Click to expand...

Please Jesus Christ our Lord and Saviour let ETH hit Sub $20 again and I will be rich as shit when I buy a hundred of em
 
Emerson

Emerson

May contain jokes =>
Man once you start looking more at all these sub-cent coins it starts to get increasingly tempting to just drop like $20 into fifteen of them and see what happens.
 
Z

ZOONAMI

Junior Member
Emerson said:
Man once you start looking more at all these sub-cent coins it starts to get increasingly tempting to just drop like $20 into fifteen of them and see what happens.
Click to expand...

Nah, they are called shit coins for a reason. Think of them as companies. If they don't have an actual value proposition then don't put any value into them. Different story if it has more going for it than just another crypto that basically serves no purpose.

A lot of them are literally there just to pump and dump on the exchanges.
 
A

Arkanius

Member
Does anyone know how Coinbase processes payments from a SEPA bank account?
I managed to register my account since I wanted to withdraw a few funds. But it makes me really uncomfortable having my bank account associated with them if they have the capability of withdrawing funds without a confirmation from my side through the bank.

EDIT:

I looked it up, it's basically like the confirmation way. They generate a reference number for your payment and you must initiate it from the bank side.
 
H

Hisoka

Member
Brandson said:
Runaway ICOs might pose an existential threat to public blockchains. I am quite worried about a big crash actually. ETH getting to $1000+ seems inevitable. I just don't know if it's going to $1 first. I only have disposable funds invested so I might keep it in to weather the storm but the chances of bad things happening soon is increasing.

I actually think crypto could use some regulating, at least with respect to ICOs.
Click to expand...

Wishful thinking. Don't know if that's possible. Everyone would try to jump that 1$ train. Not everyone can be a millionaire. ETH has strong support now. I think it's save until the bitcoin fork. No really bad news for ETH until now. There will surely be a crash, but not now.
 
A

Arkanius

Member
Hisoka said:
Wishful thinking. Don't know if that's possible. Everyone would try to jump that 1$ train. Not everyone can be a millionaire. ETH has strong support now. I think it's save until the bitcoin fork. No really bad news for ETH until now. There will surely be a crash, but not now.
Click to expand...

But I wonder, will the BTC hard fork crash ETH as well?
I would imagine ETH increasing in value with people jumping from the BTC train.

I'm going to HODL both BTC and ETH through the hard fork.
 
B

Brandson

Member
Hisoka said:
Wishful thinking. Don't know if that's possible. Everyone would try to jump that 1$ train. Not everyone can be a millionaire. ETH has strong support now. I think it's save until the bitcoin fork. No really bad news for ETH until now. There will surely be a crash, but not now.
Click to expand...

I'm certainly not wishing for the entire crypto market to implode under the weight of overvalued ICOs, but you have to consider that as a possibility unless something changes. Any recovery after that would take a very long time. It would be very bad for everyone.
 
D

Donos

Member
I'm almost set now. Chunk of ETH, siacoin and little scraps of BTC after reading up on all this stuff. IOTA is interesting too. Was short of getting Litecoin to but i have set me a limit and i'm better keeping it that way. Easy to get carried away.

Let that all cook a year and then see if everything crashed and burned or grew a bit.

Reading about the RL usefullness of some of these things is interesting and insightfull (not the easiest stuff to read if you are not into it) although most ppl investing probably just want to make $$$ regardless if this advancing society or some "shitcoin".

Wouldn't and couldn't manage all these Exchanges/wallets logins without using KeePass (PW Manager).
 
B

Brandson

Member
Donos said:
Wouldn't and couldn't manage all these Exchanges/wallets logins without using KeePass (PW Manager).
Click to expand...

I highly recommend enabling Google 2-factor authentication for all your logins with exchanges. SMS as 2-factor authentication has shown to be not secure enough. The Google Authenticator app is so far proving to be effective.
 
I

InertiaXr

Member
Any ideas on if ETH is just going to keep up this slow downfall today? Worth waiting to buy more or just go ahead and do it now?
 
B

Brandson

Member
InertiaXr said:
Any ideas on if ETH is just going to keep up this slow downfall today? Worth waiting to buy more or just go ahead and do it now?
Click to expand...

It will probably fluctuate between 350 and 390 today. Any shift from there likely won't happen until the China conference starts (overnight from my perspective). Then it will go up if there is significant news, or possibly down if there is in fact nothing new from the conference, since traders have built it up into maybe something more than it is.
 
D

DarkGorgon

Member
InertiaXr said:
Any ideas on if ETH is just going to keep up this slow downfall today? Worth waiting to buy more or just go ahead and do it now?
Click to expand...

Nobody knows

IMO the price at the moment is pretty good, so I've decided to buy a few more eth, not sure if that helps you at all
 
B

Brandson

Member
Metalic Sand said:
What will that do exactly?

Will it effect ethereum
Click to expand...

It could:

1) cause Bitcoin's price to collapse if something bad happens
2) cause Bitcoin's price to go up, if everything works out (I'm not worried about Ethereum in this case)

If Bitcoin's price collapses, or there are 2 Bitcoins, splitting the market cap in some unequal way, prices for all other cryptocurrencies could also fall. If that happens, some Bitcoin money could go into Ethereum, but market caps for all crypto could take a big hit overall. I might temporarily at least partly get out of crypto near the end of July depending on how I'm feeling about all of this, and then re-enter in August once the dust settles.
 
U

Unknown Soldier

Member
ETH seems to be facing a resistance level around $400. Every time it gets closer it immediately drops a lot then creeps back up towards it. Let's see if it can break through anytime soon.
 
B

BraXzy

Member
I grabbed another .5 ETH when it dipped to $350 it seemed to hit a floor it refused to go below. I'm hoping it hits $600 by years end.
 
C

Chumley

Banned
It probably won't happen, but if it ever has a major crash like Bitcoin did in 2013 or 2014, that's a huge opportunity. I've talked to enough people about ETH's future who know what they're talking about (one girl who works at Sony, another at a major bank) to feel comfortable it'll reach BTC status or higher within a couple of years. I don't remember people talking like this about BTC.
 
B

Brandson

Member
Brandson said:
I feel like people are going to regret participating in this ICO next: https://www.tenx.tech/.
Click to expand...

So TenX just made USD$39 million in their token "pre-sale": https://medium.com/@TenX/tenx-presale-goal-of-100-000-eth-reached-within-36-hours-1658abebee25. They are having the "official" token sale on June 24.

You have to wonder why $39 million is not enough money for them to do what they propose. They are effectively after hundreds of millions of dollars for what amounts to a Kickstarter. I believe in crypto and all, but this is kind of disgusting. I feel bad for everyone who is going to get hurt over stuff like this.
 
B

Brandson

Member
Chumley said:
It probably won't happen, but if it ever has a major crash like Bitcoin did in 2013 or 2014, that's a huge opportunity. I've talked to enough people about ETH's future who know what they're talking about (one girl who works at Sony, another at a major bank) to feel comfortable it'll reach BTC status or higher within a couple of years. I don't remember people talking like this about BTC.
Click to expand...

Just to temper expectations a little, most of the work by big enterprise companies with Ethereum is done on custom private or forked chains of Ethereum, not on the public chain. Lots of activity could be taking place on Ethereum blockchains that have nothing to do with the ETH that we're trading.
 
F

Fluffernutter Pancake

Member
ECC has some profit takers after reaching 50 satoshis, and now is a perfect buying opportunity (or bagholder entry, depending on how you look at it) --- looks like the dev & community are going to make a major push to be listed on Bittrex in the next month
 
T

The Rizza

Member
How's everyone's experience been with Tether.to? I was thinking about using it, but it's verification process seems a bit arduous
 
T

TheDoldrums

Member
Chumley said:
It probably won't happen, but if it ever has a major crash like Bitcoin did in 2013 or 2014, that's a huge opportunity. I've talked to enough people about ETH's future who know what they're talking about (one girl who works at Sony, another at a major bank) to feel comfortable it'll reach BTC status or higher within a couple of years. I don't remember people talking like this about BTC.
Click to expand...

I understand why someone who works at a major bank would like ETH, it's a centralized coin with no maximum supply. It has some of the negative aspects of fiat without the benefits of actually being able to buy stuff with it.
 
X

x3sphere

Member
well around $2400 BTC is a key level, if it breaks (really close now) I think we may see a huge drop. Probably in ETH as well as it has been following BTC all day. On the flipside if it holds that would help solidify this as a floor, it's bottomed out here a few times already.
 
E

Eiji

Member
Fluffernutter Pancake said:
ECC has some profit takers after reaching 50 satoshis, and now is a perfect buying opportunity (or bagholder entry, depending on how you look at it) --- looks like the dev & community are going to make a major push to be listed on Bittrex in the next month
Click to expand...

After such a rise I expect it to dip into the teens unless there is some big news coming very soon.
 
F

Fluffernutter Pancake

Member
Red said:
ECC's website is all sorts of jank. I'm not sure I trust it.
Click to expand...

The dev will be updating it in the coming weeks to include a lot more of the information that is found in the bitcointalk forum thread dedicated to the coin.

There are some community members that are well-versed in webpage creation that are beginning to work on a good overhaul of the site. Shouldn't stay janky for long, but I agree that right now it is shit.
 
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