Cryptocurrencies

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  • Wed, Dec 13, 2017 1:20 AM
    posted by justincredible

    Litecoin is going nuts these last few days. I wish I would have bought in on Thursday when I purchased my ETH and BTC. My co-worker bought in when it was $98 and it's now over $350.

    I wanted to get in when it was at $98 but didn't do it, then jumped in at $150.  Debating on getting out now with the nice profit or riding it out.  Just scared to wake up and it be back down to $150, haha.

    Wed, Dec 13, 2017 8:59 AM
    posted by Terry_Tate

    I wanted to get in when it was at $98 but didn't do it, then jumped in at $150.  Debating on getting out now with the nice profit or riding it out.  Just scared to wake up and it be back down to $150, haha.

    Be VERY afraid....read an article yesterday about people taking equity out of their mortgage to invest in bitcoin.

    A good bet this bubble has finally spread to the masses and will be popping very soon, very violently.  Should probably start calling it bit-tulip.

    Wed, Dec 13, 2017 9:55 AM

    Signing up with Gemini right now, it looks like a pretty good (read: better) alternative to Coinbase.

    Wed, Dec 13, 2017 12:30 PM

    Bitcoin and Litecoin are both trending down today. Did you sell end up selling yours, Terry? Litecoin is sitting at $320 right now.

    Wed, Dec 13, 2017 1:42 PM
    posted by justincredible

    Bitcoin and Litecoin are both trending down today. Did you sell end up selling yours, Terry? Litecoin is sitting at $320 right now.

    Any of the ones that have surged like those two will definitely fall eventually.

    Specifically pertaining to BTC, if I still had any, I'd be doing one of two things:

    1. Selling now and buying the next big dip

    2. Planning on holding past the next dip, which could be absolutely huge

    It'll drop big soon.  From everything I've read, predictions are a 70%+ drop, which is not without precedent for BTC.  I still think it has value, and as such, I don't think it will collapse entirely, but the current overvaluation is ridiculous.

    Wed, Dec 13, 2017 1:52 PM
    posted by O-Trap

    It'll drop big soon.  From everything I've read, predictions are a 70%+ drop, which is not without precedent for BTC.  I still think it has value, and as such, I don't think it will collapse entirely, but the current overvaluation is ridiculous.

    Just compare the run-up, 1800% this year or whatever, vs. just a 33% increase in transactions for goods/services volume.  Granted, increased liquidity and investor demand is hard to quantify, but it could easily fall to $2000.  70% is not a bad bet at all....when it starts to dip, shorts could pile-in and really drive it down and it could, in theory, become just as oversold as it became overbought (though I think miners and others have piles they are holding to try and squeeze shorts and provide price support).

    Probably a better game than Vegas, but I'd be prepared to lose up to 80% or more....I'd engage in active trading like you mention to try and get some "free" bitcoin to ride for the longer-term.  Just like Vegas, keep taking 25-50% of your gains off the table.

    Wed, Dec 13, 2017 1:54 PM

    I'm planning on keeping my ETH and probably buying more to hold. I plan to convert my current BTC into some other coins and then buy more when it drops.

    Wed, Dec 13, 2017 1:55 PM

    I did finally get access to my ETH on coinbase. I still can't access my BTC, but I feel better now that one came through.

    Wed, Dec 13, 2017 2:14 PM
    posted by justincredible

    I plan to convert my current BTC into some other coins and then buy more when it drops.

    What I did.  I'm currently in posession of 0.0 BTC.

    Wed, Dec 13, 2017 2:31 PM
    posted by gut

    Just compare the run-up, 1800% this year or whatever, vs. just a 33% increase in transactions for goods/services volume.  Granted, increased liquidity and investor demand is hard to quantify, but it could easily fall to $2000.  70% is not a bad bet at all....when it starts to dip, shorts could pile-in and really drive it down and it could, in theory, become just as oversold as it became overbought (though I think miners and others have piles they are holding to try and squeeze shorts and provide price support).

    Probably a better game than Vegas, but I'd be prepared to lose up to 80% or more....I'd engage in active trading like you mention to try and get some "free" bitcoin to ride for the longer-term.  Just like Vegas, keep taking 25-50% of your gains off the table.

    Yeah, some of the more intense predictions on the drop are as much as 90-95% (so, down to $1000 to $2000).  70%+ just seems like a safe catch-all rate for everything I've read.

    Technically, I got into the whole thing with just $50, and I've taken more than that out already, so I'm playing with house money as it is, but none of that house money is in BTC, ETH, LTC, or XRP ... which seem to be the ones that get 99% of the media attention. I think that attention is a large contributor to the most recent overvaluations.  Talks of the Winklevoss brothers becoming "Bitcoin billionaires" and all the articles comparing times ("$XX worth of Bitcoin in 2011 would be worth $XX,XXX today!") have to be kerosine on the fire.

    Wed, Dec 13, 2017 8:54 PM

    I finally have full access to my coins, I just transferred them locally to my exodus wallet. I was getting a little worried, it took my bitcoin about an hour to finally transfer. My ethereum took a second.

    Wed, Dec 13, 2017 9:19 PM
    posted by justincredible

    Bitcoin and Litecoin are both trending down today. Did you sell end up selling yours, Terry? Litecoin is sitting at $320 right now.

    I'm most likely selling before going to bed tonight.  Have a floor and a ceiling in mind so if it hits either one I'm going to sell so I don't have to worry about it anymore.

    I'm on Coinbase though, and haven't had an issue with either the Bitcoin I bought a few months ago (wish I had waited to sell that!) or the Litecoin.  I know at heavy trading times the app has been funky, but overall no big issues for me on it like you've had.

    Thu, Dec 14, 2017 12:48 PM
    posted by justincredible

    I finally have full access to my coins, I just transferred them locally to my exodus wallet. I was getting a little worried, it took my bitcoin about an hour to finally transfer. My ethereum took a second.

    The big issue I take with most coins, even some of the ones that are "hot," is that they don't offer enough to delineate them from the others.  This, however, is something Ethereum is alleged to have.  Transactions, as a general rule, take less time.

    Thu, Dec 14, 2017 2:48 PM

    This is a big fear of missing out situation right now. People are just learning about this stuff and buying so they don't miss the boat. People who buy (not citing people on this site) then become the conductors of the hype train and every person who buys tells people who haven't been exposed. This is what happened with Ripple earlier this week. They said the South Koreans are very 'word of mouth' people and Ripple exploded because nobody wanted to miss out. 

    Thu, Dec 14, 2017 3:00 PM
    posted by TBone14

    This is a big fear of missing out situation right now. People are just learning about this stuff and buying so they don't miss the boat. People who buy (not citing people on this site) then become the conductors of the hype train and every person who buys tells people who haven't been exposed. This is what happened with Ripple earlier this week. They said the South Koreans are very 'word of mouth' people and Ripple exploded because nobody wanted to miss out. 

    Yep.  FOMO is a strong driver of hype that outgains value like this.

    Thu, Dec 14, 2017 3:54 PM

    Yeah, I've been watching and planning to buy Ripple for a while now. It shot up from $.24 to $.78 in the past few days and I haven't had a chance to buy yet. At this point I fear a drop so I'm leery to buy in right now.

    Thu, Dec 14, 2017 4:37 PM

    Now it's $.84. Got damn.

    Tue, Dec 19, 2017 7:54 PM

    Coinbase added Bitcoin Cash to their site today, and it's value has risen about 40% already. Meanwhile Bitcoin has taken a pretty big dump. I didn't realize they were adding Bitcoin Cash today, but I knew they talked about adding it soon. I was wanting to exchange some of my Bitcoin for it as I knew it would go up as soon as it was available on Coinbase, but hadn't yet. Bummer. If you hear reputable chatter of them adding a new coin, start buying. Short terms gains seem like a pretty sure thing, at least for their next offering or two. 

    Thu, Dec 21, 2017 12:18 PM

    I heard a lot of buzz about BCH.  Never got in on it, but I'm not exactly heartbroken.

    Picked up some Golem again yesterday.  It's up a little bit.  Was up much more, but it's still early in the day.  Seems like almost everything dips in the morning.

    Fri, Dec 22, 2017 10:04 AM

    Coinbase prices have tanked over the last day. BTC down to $12k.

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