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1961  Alternate cryptocurrencies / Altcoin Discussion / Re: Will Litecoin die? on: January 19, 2018, 09:21:47 PM
Litecoin can not die, just as Doge is an easily mobile transaction currency, maybe its value may fall more the currency itself will never die for utility. Another factor that we can consider, maybe Litecoin brings an update that can change those thoughts caused in people.

This. The chief advantage litecoin has over doge is that you can trade litecoin directly for fiat on most exchanges. So you don't need to do the middle step of converting to bitcoin.
1962  Economy / Trading Discussion / Re: I've come across a problem with day trading crypto. Suggestions? on: January 19, 2018, 09:11:26 PM
You could try trading Ripple directly against fiat. See the following markets:

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

You can trade it against the Korean won on the Korean exchanges, against the Euro on Kraken, and against teh dollar on Bitstamp and Bitfinex.
1963  Alternate cryptocurrencies / Altcoin Discussion / Re: Are you optimistic about Ripple? on: January 19, 2018, 04:26:20 PM
The Financial Times has a really interesting article about Ripple:

https://www.ft.com/content/f739f48e-f62a-11e7-8715-e94187b3017e

Quote
Bitcoin rival’s rise unnerves banking sector

In October, a five-year-old company called Ripple boasted that it was one of America’s “most valuable start-ups . . . after Uber, Airbnb, Palantir and WeWork”.

Although its core finance technology business has not done much disrupting yet, cryptocurrency mania was growing the value of XRP, the digital coin created by Ripple’s founders and whose supply the company still controlled. XRP’s price rose 36,000 per cent during 2017, challenging bitcoin’s market value, giving Ripple an XRP hoard worth $200bn by Christmas.

XRP is a cryptocurrency outlier. Unlike decentralised, rebellious bitcoin, created post-financial crisis amid distrust of banks, XRP is supposed to grease creaking banking infrastructure, part of the back-office finance technology offered by San Francisco-based Ripple. Brad Garlinghouse, its chief executive, called XRP “the global liquidity solution for payment providers and banks”.

But Ripple’s golden goose cryptocurrency, whose price has now sagged, raises awkward questions. While its separate technology solutions for fast payment settlement impresses some financiers, XRP’s volatility, and Ripple’s ownership of more than half the 100bn XRP ever created, has unnerved banks that evangelists hoped would adopt the asset as a bridge currency.

Ripple wants to supplant the international Swift network, which is owned by and connects about 11,000 banks. It promises to accelerate cross-border payments using distributed-ledger, or blockchain, technology that sends messages between banks, while offering XRP as a cheap and universal bridge currency, to short-circuit the expensive nostro and vostro accounts of traditional correspondent banking.

Think of XRP “like the oil you put in [a car] engine”, says Greg Kidd, Ripple’s former chief risk officer who runs Synthetic Liquidity, a liquidity provider that is trialling XRP by moving small amounts. Banks “really shouldn’t need that much”, he adds.

But some speculators are betting that banks will need a lot of XRP oil as a reserve currency, which, if correct, would see XRP loom large in the global financial system. But if banks are unconvinced that they need to own substantial amounts of XRP — which Ripple’s systems for sending and processing payments do not require — the now $60bn total market value of circulating XRP coins looks highly speculative.

The enterprise software start-up says more than 100 financial institutions have adopted at least one Ripple product.

Ripple recently announced another pilot project with money transfer group MoneyGram, which will involve XRP. But while it has touted live projects with Santander, a Ripple investor, and American Express, others have hesitated to move beyond tests.

The Financial Times spoke to 16 banks and financial services companies publicly linked to Ripple (two more declined to comment). Most had not yet gone beyond testing, but some were using Ripple’s systems for moving real money. For instance, Sweden’s SEB bank says it used Ripple software for fast cross-border payments between accounts held by some of its corporate clients; soon, Santander is expected to launch a cross-border payments app using Ripple’s technology to clients in Europe and America.

But none of the banks who spoke to the FT had used XRP.

Kansas-based CBW Bank was one of the first partner banks announced by Ripple in 2014. But Suresh Ramamurthi, CBW’s chairman, says it has shelved plans to use Ripple’s systems until regulatory guidance is clearer.

Some banks shy away from cryptocurrencies such as XRP for fear of being “the first casualty”, Mr Ramamurthi adds.

Hank Uberoi, executive chairman of cross-border payments specialist Earthport, works with Ripple to jointly offer their services to financial institutions. “Banks are hesitant to use XRP because they are unsure of the regulatory aspects of it. If money is in transition and the price of XRP collapses in that time, what happens then?” he says.

Ripple’s other problem, Mr Uberoi adds, was signing up enough banks to have the scale to seriously challenge Swift. “It is only of value if everyone is connected to the network — like a fax machine, if others don’t have one, then it is not much use,” he says.

Ripple says: “Enabling the internet of Value is not something we can do alone and it’s not something that happens overnight.”

A former staffer, who left last year, says Ripple was sometimes hasty to announce that banks were using its technology even if they were testing several blockchain solutions. The former employee describes this as a “survival tactic”.

A “vibrant and growing ecosystem of people and businesses . . . are interested in XRP”, says Ripple. It says Mexican bank Cuallix uses XRP.

The anxiety of bankers that Ripple might cash in its XRP hoard recently prompted it to lock up 55bn XRP and promise to regulate supply by releasing no more than 1bn XRP every month.

Regardless of whether banks use it, Ripple has benefited handsomely from XRP’s rise. Ripple sells XRP to institutions and through exchanges — $52.2m worth in last year’s third quarter, up 67 per cent from $31.3m the previous quarter. It advertises discounts for market makers who adopt early, to increase the pool of institutional buyers and sellers.

Some staff take XRP as part of their salaries, and Ripple’s founders are enjoying a boost. Forbes reported that Chris Larsen, co-founder and former chief executive, personally owns 5.19bn XRP. According to cryptocurrency tracker Coinmarketcap, Mr Larsen’s holding is at present worth more than $8bn.

Since Ripple compared itself to Uber and Airbnb, XRP’s price has hit $3.80 highs but also fallen to just above $1 before rebounding this week, the volatility reflecting speculative cryptocurrency markets.

When Coinmarketcap removed Korean exchanges from its market capitalisation calculations last Monday, Ripple’s market cap crashed from $124bn to $101bn, revealing South Korea’s upward influence on XRP and triggering a panicked sell-off.

XRP’s volatile price responded enthusiastically to dubiously sourced news, climbing in December amid later debunked rumours that XRP would be listed on a key cryptocurrency trading platform, and recently rising 20 per cent after an unsubstantiated, anonymous report suggested that Western Union might adopt Ripple technology.

XRP’s speculative price rollercoaster “seems to represent the perfect blend of cryptocurrency hype and optimism”, writes Eric Turner, S&P Global Market Intelligence analyst.
1964  Economy / Service Discussion / Re: Does Bitpay have serious problems? on: January 19, 2018, 04:08:10 PM
Is there a decent alternative for Bitpay?

There are other payment processors like Coinpayments:

https://www.coinpayments.net/

which accept alts.

Bitpay's problem is that it is bitcoin only and they never imagined that the mempool backlogs could get so big and thus didn't have processes in place to deal with that.

Hopefully Bitpay will see the light and enable alts.
1965  Bitcoin / Bitcoin Discussion / Re: Why media against bitcoin ? on: January 19, 2018, 03:49:41 PM
Lots of the reason the media is against bitcoin is because the journalists spent years saying "this is a fad" only to see it soar which leaves them sore because they've missed out on gains.

There is a good example in today's Financial Times titled "I told you investing in bitcoin was a bad idea":

https://www.ft.com/content/42822ebe-fc4a-11e7-9b32-d7d59aace167

The author devotes a lot of time pointing out Bitcoin has fallen 50% from the all time peak, but fails to mention that it is at teh November levels, and the rise from last January makes the coin a 10-bagger.

The only people who have lost money are those who bought in December at the highs.
1966  Bitcoin / Bitcoin Discussion / Re: Exchanges (and people) need to stop using BTC as base currency on: January 19, 2018, 03:44:59 PM
And what currency should crypto exchanges use as a base currency?Ether,tether,BCH?
I know about all the disadvantages and issues regarding bitcoin,but can you mention a better altcoin that will replace btc?It looks like all the bitcoin core supporters are waiting for a new fork or LN activation.We need a solution that will speed up transactions and lower the transaction costs.It doesn`t matter if it`s centralized or no.

Lots of exchanges are offering fiat pairs for ETH and LTC (see Kraken and the Korean exchanges).

And some exchanges are offering pairs against ETH, Monero and Doge.

Basically it's a "use it or lose it" situation - most exchanges will enable pairs with other alts as a base, but if people don't trade them they remove them. A few years ago litecoin used to be offered as a base currency but exchanges removed it because no-one was trading it.
1967  Alternate cryptocurrencies / Service Discussion (Altcoins) / Re: Which exchange to manipulate the largest number of alts ? on: January 19, 2018, 03:34:11 PM
Livecoin have a huge number of alts, as do Cryptopia and HitBTC.

I've used livecoin safely (deposits and withdrawals work fine). I haven't used the others and have heard bad things about Hitbtc. As always, do you own research (google the names of the exchanges with the word "scam" attached and see what comes up).
1968  Alternate cryptocurrencies / Speculation (Altcoins) / Re: Is it over, or we will se another dump? on: January 19, 2018, 03:30:08 PM
The bitcoin drop is likely over (it's now range trading in teh channel it was in back in November).

But teh altcoin drop has a way to go before it bottoms out. Some coins like Ripple are still over-valued IMO.
1969  Alternate cryptocurrencies / Altcoin Discussion / Re: All in for Stellar (XLM) on: January 19, 2018, 03:26:58 PM
Kraken has finally distributed the Stellar it owed to people from June 2017. See the following thread:

https://www.reddit.com/r/Stellar/comments/7qiex0/kraken_finally_distributed_the_stellar_airdrop/

You need a minimum of 300 to sell on their platform though.
1970  Bitcoin / Bitcoin Discussion / France, Germany to make joint bitcoin regulation proposal at G20 summit on: January 19, 2018, 03:09:58 PM
https://www.reuters.com/article/us-global-bitcoin-france-germany/france-germany-to-make-joint-bitcoin-regulation-proposal-at-g20-summit-idUSKBN1F728X

Quote
PARIS (Reuters) - France and Germany will make joint proposals to regulate the bitcoin cryptocurrency at the next summit of the G20 group of major economies in Argentina in March, French Finance Minister Bruno Le Maire said on Thursday.

“We will have a joint Franco-German analysis of the risks linked to bitcoin, regulation proposals and these will be submitted as a joint proposal to our G20 counterparts at the G20 summit in Argentina in March,” Le Maire told reporters.

Lets hope the other G20 countries ignore them.
1971  Economy / Speculation / Re: Is BTC consolidating above 10K and ready for an uptrend? on: January 19, 2018, 03:06:42 PM
Yes, it is consolidating the 10-12k range. Once it do that, it will try to consolidate the 12-15k, and then the 15-18k range.

This will take some weeks, though. My guess is that we will go back to 20k by the end of February.

We need to be patient.


I think the consolidation may take longer than that. The mempool is still full which means people who have sent their coins to teh exchanges to sell still haven't had the chance to sell.
1972  Alternate cryptocurrencies / Speculation (Altcoins) / Re: What Is The Future of BTG ( Bitcoin Gold) ? on: January 19, 2018, 03:59:45 AM
I don't think it has any future. It was an opportunistic fork to capitalise on people keen on forks and airdrops. It doesn't have any users, which means it is pretty much useless.
1973  Bitcoin / Bitcoin Discussion / Re: Good news The market began to rise and return !!! on: January 19, 2018, 02:54:18 AM
Nope. Bitcoin just go back to normal and there's no signs that it's going to rise again. The market ain't still ready for another massive bull run. We need more positive news first.

This. Bitcoin needs to solve it's scaling and fee issues first before it can make another push upwards. I think it will trade in a small range above $10,000 until that happens.
1974  Alternate cryptocurrencies / Altcoin Discussion / Re: Am I the only dummy paying full US taxes for 2017 on altcoin trades? on: January 19, 2018, 02:34:41 AM
Pay your taxes in full.

It isn't possible to "fly under the radar" if you are using an American exchange like Bittrex, which is liable to a ferderal warrant to look at their books. If you don't want jail time, cough up, pay your taxes and be safe.
1975  Economy / Speculation / Re: Screw that, I'm hodling on: January 19, 2018, 01:24:27 AM
Annd That's how you lose money.

I don't understand your statement, Since 2013 I cash in half of what I mine and hodl the rest, Where have I lost money?



The important part of what you said is that you cashed in half. That is prudent, you realised some profit. The problem is hodling it all regardless - why?  What is the point of just hodling and not cashing out and not spending and using it as a currency either. If that's what you do, it becomes a relic, like collecting trading cards or something.
1976  Alternate cryptocurrencies / Altcoin Discussion / Re: Why the heck is BCC going up on: January 19, 2018, 12:42:04 AM
That is Bitconnect.......Not Bitcoin Cash.  I wonder if the ex-Bitconnect members are self perpetuating this coin.  What do you think?

Some speculators can't resist.

I remember in the days leading up to MtGox collapsing - people couldn't withdraw money, but there were speculators willing to buy their accounts because they believed it wouldn't collapse and they'd get something.

There is always a group of people willing to take stupid risks.
1977  Economy / Speculation / Re: End of 2018, bitcoin $ 40,000 or more? on: January 19, 2018, 12:14:59 AM

The quick correction was expected and what can we expect after that?

It all depends on whether bitcoin can solve it's scaling problems. If it can, the sky is the limit. In the meanwhile, it functions as an asset class that is not correlated to other assets and thus very attractive to hedge funds whose deepest fear is all their assets falling at the same time.
1978  Economy / Speculation / Re: End of 2018, bitcoin $ 40,000 or more? on: January 18, 2018, 10:06:48 PM
Some guru's think the price will go up. See the following:

https://www.cnbc.com/2018/01/18/fundstrats-tom-lee-is-even-more-bullish-after-crash.html

Quote
The first major Wall Street strategist to cover bitcoin predicts the digital currency will more than double in 2018 to $25,000 in the wake of its crash this year that saw it lose 50 percent of its value from a December record.

Fundstrat's Tom Lee is out with his latest report on bitcoin, which moves up a $25,000 price target by four years, from 2022 to the end of this year. Lee's model for valuing bitcoin now predicts it will reach $125,000 by 2022.

"We expect bitcoin's major low to be $9,000, and we would be aggressive buyers around that level," Lee said in a Thursday report. "We view this $9,000 as the biggest buying opportunity in 2018."
1979  Economy / Economics / Re: Reliability and perspective of cryptocurrencies? on: January 18, 2018, 10:03:59 PM
Do analysis of mainstream analysts about development and the future of cryptocurrencies serve to make confusion and create suspicion in the reliability and perspective of the cryptocurrencies?


Yeah for sure, just look at McAfee. He's been mumbling about a lot of crypto and what he says will be the next bitcoin just blindly goes up without even checking the fundamentals people just buy them.

McAfee is a nutjob who is doing great damage to the crypto space. I wish people would ignore him instead of giving him so much publicity.
1980  Economy / Trading Discussion / Re: Poloniex shouldn't be able to hijack delisted coins! on: January 18, 2018, 09:42:52 PM
Usually Poloniex accounce in advance that they are delisting coins, so that people have time to withdraw them. After they are officially delisted they don't maintain the wallets anymore.

Did you miss a deadline to withdraw your coins?
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