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i just want to add that you should try not to fall for the altcoin "hype". these days they are are rising a lot and there are lots of them that are rising. obviously it seems like they are more profitable and some may even tell you they are better. but in fact most of them will start their big drop right after the rise reached its limits (which may be 1 or 2 days). and the rest also have so many problems. in other words saying investing in altcoins is highly risky is an understatement.
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Seems like BTC is dropping.
I reckon people are expecting a tank and will go into ETH when it's dropping.
i find it interesting that ethereum bagholders always find a way to insert advertisement of that coin in every comment even if it is completely irrelevant! and i think you need to look up the meaning of "drop" first and then make a comment about dropping. price is higher compared to previous days and that doesn't say drop!  |
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what do you mean by good ico? You mean like ethereum?
no he means a new altcoin that is released with an ICO (Initial Coin Offering). and NO it is a terrible advice that he can give anyone. ICOs are mostly scams and almost all of them drop hard as soon as they are released for trading. and that means a big money loss. you can however invest in them knowing it is a high risk investment with a big chance of money loss. |
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obviously it is a pump like all the rest of the altcoins that have been pumped.
this past 10 days have been the days of ultra cheap altcoins to get pumped. i am seeing altcoins getting pumped that have been completely dead. coins such as MoonCoin and HTML5 both of which were below 1 satoshi and now they are worth 5 satoshi and rising.
as i have said before pumping a cheap coin like these to 500% is a lot easier to pump a big altcoin from 0.01 to 0.5BTC for example.
so no it is not going to last, try to enjoy the ride and make sure to sell on top and don't wait for them to dump on you!
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Bitcoin price is soaring. Its price trajectory is extremely steep. I fear that the Bitcoin price bubbles is reaching its point of yield. What is mean is, that such steep ascents in anything are rarely sustainable. I am going to sell my coins fairly soon. What do you all think?
you are correct, the fast rises like we saw last month are not sustainable and it didn't last. price fell down about $800 from the ATH in a process that we call correction and then recovered about $200 and became stable around $2100-$2200 for a while. this rise is a new one and it is not yet even steep. also rises like these are perfectly normal given the circumstances. i guess you missed the biggest news a couple of days ago! the largest Forex broker in the world added bitcoin do you even know how much volume that thing brought into bitcoin? Link. feel free to sell though, more cheap bitcoin for the rest of us. it is not like there is only a limited 21 million coins total and it is not like the population of the world is 100 times that number. |
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first you need to learn more about trading and how it works.
then you need to get more familiar with altcoin market because it is nothing like any other market, it is small, manipulated and impossible to predict most of the times.
all the things people said so far like the marketcap, developers, volume, ... are good but are only 1% of the work. the rest is knowing what is going on in the charts and in the news. things that can lead to the pump of an altcoins, it can be a random news about them being listed on poloniex! or it can be some volume increase on their charts. you need to watch the market for some time to learn these first and then start trading.
and always remember that the dump is around the corner if you want to be successful.
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it depends on what coin you are talking about.
small altcoins:
meaning those that are at the bottom of the lists, with small volume and specifically low prices then the pump and dump will be short, they go up a lot when you look at the percentage growth (sometimes even >1000%) in a very short time and then they get dumped as fast too. this process can take place in one day for really small coins and up to a couple of weeks.
big coins:
those that are on top of the lists, with higher volume and higher prices. these coins attract a lot of attention just for being on top and there are always a lot of newbies who will buy these no matter what the price is, even if it is getting dumped hard! and because of that the process of pump and dump will take a while. the pump will be faster though because of FOMO but the dump is always slow since the whales dump slowly and as i said there are a lot of newbies who buy even on the way down and lose money.
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that is the weirdest news i have heard about China so far and when thinking about all the nonsense that crypto-related news sites publish i am not surprised and will assume it is false information until proven otherwise.
usually countries are not so happy about things like ICO and they won't certainly regulate them specially when cryptocurrencies themselves are not regulated!!!
it is like saying using a car is illegal but we are going to regulate using the steering wheel!
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coinmarketcap.com has been down multiple times today. Any other good sites that have
similar Altcoins info ?
coingecko.com website that was suggested is a nice place, but generally speaking all the information you need to know is available on the exchanges themselves. things such as a better chart, the volume, price, changes, links,... just look at that instead of Coinmarketcap. and also you can always use google, just search for the name of the altcoin you want to find (you can add the word altcoin or cryptocurrency to your search term) and you can find their announcement topic and website if they have any. |
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again you pay the fee in your transaction, if it is 0.01BTC fee then you pay it with the transaction and if one miner rejects it then another will pick it up and mine it for the reward.
and if someday fees grow that high, for example $25 for a simple small transaction then people will just stop using bitcoin and the backlog will clear and fees come down because there no longer will be any competition.
and if miners continue being malicious in your scenario we can always fork to a new algorithm that prevents them from doing such things.
i am not an expert in this matter but you can check out the POW change proposal. that can work in a situation like what you are describing.
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It is open now: https://coin.z.com/jp/index.htmland already meeting a large demand for bitcoin GMO Click Securities (the company) has estimates that the market size in Japan for cryptocurrencies will grow to 1 trillion yen daily volume, or US$8.7 billion daily within a few years. Z.com Coin is offering two types of account plans for users, referred to as “Simple” and “Full Access.” With Simple, the website doesn’t ask for much identifying information, so customers can get set up quickly. However, they can only treat the exchange as a cryptocurrency wallet where they can buy coins, make deposits, and withdraw them again.
The Full Access accounts require Know Your Customer (KYC) and Anti Money Laundering (AML) documentation, but permits users to deposit and withdraw Japanese yen, and trade on both of Z.com Coin’s trading services.
The company is initially offering a Bitcoin wallet and two markets for their customer to trade. The first is a Foreign Exchange market that allows Bitcoin to be traded for various fiat currencies, called the “virtual currency FX” market. Traders also have access to margin trading, an already-very popular market type for Z.com, according to the announcement.
The other market is a more traditional Bitcoin exchange, which they simply call their “virtual currency” market. The service allows anyone to buy bitcoins for Yen, and potentially other cryptocurrencies like Ethereum in the future, and send them to their Z.com coin wallet. As with the now competing exchange BitFlyer, trading fees on the Virtual Currency market are zero.
source: https://bravenewcoin.com/news/japans-largest-forex-market-opens-bitcoin-exchanges-to-overwhelming-demand/ |
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i wouldn't go as far as calling it a scam. ethereum is just a pretty terrible platform. and it is bad because it was created as a centralized altcoin which a big ICO and its main purpose is to make Vitalik and his investors rich out of nothing.
and it is over-hyped because of smart contracts which it handles pretty badly too. there are lots of bugs and exploits which happen every now and then and users and services using these lose a lot of money because of it.
for example a couple of days ago a Canadian exchange lost 14 million dollars because of it!
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the transaction fee is the fee you are paying the pool to mine your transaction!
when you pay lower fee (like zero fee to 50 satoshi per byte) you get stuck and need to seek alternative methods like paying the additional (300 satoshi per byte) to the pool so they can mine your transaction. if you pay the higher fee in first place you won't have to pay anything else.
and the solution is scaling! and it will happen sooner or later, there is no escaping it. the miners can delay the inevitable but eventually something will be forced on them.
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with blockchain.info there are two different things you may be calling unique ID! 1. your Wallet ID: acts as your username to log in your wallet and you should not share that with anyone: https://blog.blockchain.com/2015/05/22/blockchain-wallet-identifier-basics-for-web-ios-android-wallets/that is a series of letters numbers and dashes: ########-####-####-####-############ 2. your recovery phrase aka Seed: which you absolutely shouldn't share with anyone because that can be used to directly gain access to your funds. that is a series of words (i think it is 13) |
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sorry i completely forgot about this topic  now lets look at the orderbooks.
if you sell ~1BTC the price will drop $10
and if you sell ~2BTC the price will drop $25
strange assumption. Do you really think such amount will influence the market? it was not an assumption. i opened up cex.io and checked out the orderbook of that time. and by that time if you sold those amounts price would have fallen that much. in deeper prices the orderbook volume became more though. apart from withdrawal fee you will be paying trading fees too.
$20,000 * 2.5% = $500 * 2 = $1000
i don't know how much the fiat deposit in bitstamp and withdrawal from cex.io will cost
according to fee schedule it's 0.25%, and not 2.5% https://www.bitstamp.net/fee_schedule/ yeah, sorry i fixed it! p.s. did you try it and see if you can make profit in reality or is it still at concept/theory stage? |
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Too bad, they should have known Ethereum is a bugs riddle platform and shouldn't have offer on their exchange.
Too many bad things waiting to happen, this splitting bug will never go away.
it is the greed that will always cause loss of money, the more greedy people are the more they lose. these exchanges resisted not adding ethereum for a long time but they saw the huge volume on poloniex and started doubting their first good judgement and despite all the signs they added it, and it is not just this exchange, there are a lot of them that did this recently because of the recent pump! i say they deserve it. |
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by 2009-2010 there were no exchange/markets for buying bitcoin so the only way to obtain bitcoin would have been getting tipped from someone or claiming a faucet and gaining 10-20 bitcoins! or you could have just downloaded bitcoin QT and start mining with your CPU and get (nearly) free bitcoins for mining bitcoin. 50 BTC block reward for finding 1 block. look at this page, specifically this part for more information: https://en.wikipedia.org/wiki/History_of_bitcoin#Prices_and_value_history |
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which country is this, the fifth or tenth that has said a similar thing! i think the first one that i've heard was China and the latest (before Russia) was India. and i still don't get what they want to achieve by doing this. i mean i get the interest in blockchain technology and why banks would want to use it in their banking system but a country releasing an official crypto! that sounds weird to me.
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...
Baryom is genuinely a gem to the community. I have once talked with him on skype too ( William Bitsler ) and honestly guys he is having a very straightforward stance and a open guy who loves to make the sites better and better.
I would like to suggest baryom a request if they don't mind doing it, can you add a PvP game ? please.
how does a PvP game work in dice? i have seen primedice have it a very long time ago but they removed it (i think because it had no profit for them because of no house edge on it). but i never understood how you bet against another person in dice. |
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since it is open source ( https://github.com/bitpay) i doubt it. besides you don't get anything from camera while private keys are there. but it never hurts to compile the wallet from the source code instead of downloading and installing the already compiled one. and my guess would be there might be bug in the wallet code or your device that turns the camera on when starting since the wallet probably uses it for scanning QR codes. not sure about your second question though. you need to see what they say on their website. |
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