Cryptocurrency (Bitcoin, Ethereum etc) Page 5

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  • neilka 7 Dec 2017 11:26:26 20,692 posts
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    It's a pretty easy job on this forum.
  • brokenkey 7 Dec 2017 11:30:09 9,128 posts
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    deleted

    Edited by brokenkey at 11:33:55 07-12-2017
  • chopsen 7 Dec 2017 11:34:56 19,969 posts
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    Oh yeah, actually neilka's right.

    I had that in my mind as being a break on people taking the piss and just mining all the coins in an afternoon or something.

    So I guess when all the coins are gone, recording transactions gets easier that everybody does it (again).

    The actual size of the blockchain might become an effort at some point though, no?
  • sport 7 Dec 2017 11:37:38 14,032 posts
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    Worth noting that Ethereum will be moving to Proof of Stake next year, which will eliminate mining for it essentially.
  • Fake_Blood 7 Dec 2017 11:47:58 7,895 posts
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    I read that the limiting factor is the block size, which is limited at 1mb?
  • Zeffi 7 Dec 2017 13:13:45 938 posts
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    Didn't realise Steam was even accepting Bitcoin.

    Steam stops accepting payments in bitcoins

    - Fees to process Bitcoin payments had "skyrocketed" in 2017
    - The moment-by-moment shifts in value were a problem

    Edited by Zeffi at 13:15:41 07-12-2017
  • Dizzy 7 Dec 2017 13:14:04 3,508 posts
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    sport wrote:
    Careful with IOTA:

    https://twitter.com/KyleSamani/status/937886293803065345
    Oh thanx, not going to touch that.
  • sport 7 Dec 2017 14:27:12 14,032 posts
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    Also, heads up on the btc futures market opening up on Sunday evening. There's quite a bit of talk going around that there could be a big short.

    https://www.youtube.com/watch?v=U3UHttj-aS8

    Edited by sport at 14:27:30 07-12-2017
  • phAge 7 Dec 2017 14:31:58 25,228 posts
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    sport wrote:
    Also, heads up on the btc futures market opening up on Sunday evening. There's quite a bit of talk going around that there could be a big short.

    https://www.youtube.com/watch?v=U3UHttj-aS8
    Yeah. I've set my BTC Ticker Widget to let me know if it drops to below $13.000. Then I might consider selling.
  • Zeffi 7 Dec 2017 14:41:09 938 posts
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    From my limited understanding, I think if it goes ahead the price is going to rocket upwards.

    I'm basing this on the fact that it happens every time an event occurs that takes bitcoin more seriously.
  • phAge 7 Dec 2017 14:48:48 25,228 posts
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    Well, I don't think it's unlikely that a couple of the big players might short BTC, then dump a lot of theis assets and cash in on the ensuing panic.

    Still, I'm not rich, so what do I know.
  • Zeffi 7 Dec 2017 14:57:00 938 posts
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    I don't think anyone does, it's new territory.

    It's pretty interesting just observing.
  • sport 7 Dec 2017 15:05:29 14,032 posts
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    phAge wrote:
    Well, I don't think it's unlikely that a couple of the big players might short BTC, then dump a lot of theis assets and cash in on the ensuing panic.

    Still, I'm not rich, so what do I know.
    Well, first thing you could do is withdraw your initial investment so you're in "for free" so to speak.

    Then, if you have the btc on an exchange, set a stop loss at $13,000 as well as an alert. If it triggers and sells, keep monitoring the price (perhaps hourly), and only buy back in when it starts to rise. It's highly unlikely you'll catch the dip, but if you get back in for under $13,000 you'll increase your btc stock with no extra investment.

    Then HODL :-)

    On the other hand, if it sky rockets instead, your stop loss won't execute and you're golden anyway.
  • phAge 7 Dec 2017 15:26:36 25,228 posts
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    sport wrote:
    phAge wrote:
    Well, I don't think it's unlikely that a couple of the big players might short BTC, then dump a lot of theis assets and cash in on the ensuing panic.

    Still, I'm not rich, so what do I know.
    Well, first thing you could do is withdraw your initial investment so you're in "for free" so to speak.

    Then, if you have the btc on an exchange, set a stop loss at $13,000 as well as an alert. If it triggers and sells, keep monitoring the price (perhaps hourly), and only buy back in when it starts to rise. It's highly unlikely you'll catch the dip, but if you get back in for under $13,000 you'll increase your btc stock with no extra investment.

    Then HODL :-)

    On the other hand, if it sky rockets instead, your stop loss won't execute and you're golden anyway.
    Good advice there. Still, with only 0,5 BTC to my name, bought at $5000, withdrawing my initial investment will cost me almost a third of any future gains (not to mention transaction fees). Hmm.
  • phAge 7 Dec 2017 15:28:05 25,228 posts
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    About to hit $16.000. This is silly.
  • sport 7 Dec 2017 15:43:01 14,032 posts
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    phAge wrote:
    sport wrote:
    phAge wrote:
    Well, I don't think it's unlikely that a couple of the big players might short BTC, then dump a lot of theis assets and cash in on the ensuing panic.

    Still, I'm not rich, so what do I know.
    Well, first thing you could do is withdraw your initial investment so you're in "for free" so to speak.

    Then, if you have the btc on an exchange, set a stop loss at $13,000 as well as an alert. If it triggers and sells, keep monitoring the price (perhaps hourly), and only buy back in when it starts to rise. It's highly unlikely you'll catch the dip, but if you get back in for under $13,000 you'll increase your btc stock with no extra investment.

    Then HODL :-)

    On the other hand, if it sky rockets instead, your stop loss won't execute and you're golden anyway.
    Good advice there. Still, with only 0,5 BTC to my name, bought at $5000, withdrawing my initial investment will cost me almost a third of any future gains (not to mention transaction fees). Hmm.
    First rule in crypto - don't get greedy ;-P
  • Zeffi 7 Dec 2017 15:51:04 938 posts
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    phAge wrote:
    About to hit $16.000. This is silly.
    That was 20 minutes ago, you're out of touch.

    $16,330.20 :o
  • smoothpete 7 Dec 2017 16:15:42 34,351 posts
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    As before, it's probably fine and completely sustainable
  • Load_2.0 7 Dec 2017 16:33:17 25,855 posts
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    If some of the big players do decide to sell or there is dip and every gets spooked surely everyone is going to try and dump theirs at the same time and around the same 10 - 14k range?

    Everyone knows its volatile so will wait till it's rock bottom and sub 10k before looking to buy?

    Just thinking it might be hard to sell at 13k?
  • smoothpete 7 Dec 2017 16:41:52 34,351 posts
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    well by my reckoning the original bitcoin geezer's net worth has increased by $1.5B (billion!) since breakfast so if he decides to cash out then who knows.
  • Zeffi 7 Dec 2017 16:45:41 938 posts
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    It's a tough one, no-one knows what's going to happen.

    I'm not sure how likely sub-10k is now we're at $16,493 - it seemed a good level when we were at 12k.
  • Zeffi 7 Dec 2017 16:46:44 938 posts
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    smoothpete wrote:
    well by my reckoning the original bitcoin geezer's net worth has increased by $1.5B (billion!) since breakfast so if he decides to cash out then who knows.
    Unless he bought a new car with them when they were worth fuck all.
  • smoothpete 7 Dec 2017 16:49:01 34,351 posts
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    Some say he has one million coins

    #thestig
  • phAge 7 Dec 2017 16:57:45 25,228 posts
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    Zeffi wrote:
    phAge wrote:
    About to hit $16.000. This is silly.
    That was 20 minutes ago, you're out of touch.

    $16,330.20 :o
    ... and down again we go. 15,177 and going down FAST.
  • smoothpete 7 Dec 2017 17:01:42 34,351 posts
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    Says 17K+ where I'm looking
  • smoothpete 7 Dec 2017 17:02:34 34,351 posts
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    fuck me it jumped $400 in a minute
  • phAge 7 Dec 2017 17:30:33 25,228 posts
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    Hitting 15.000 just about now.
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