syscoin may have hit the bottom at 2400 sat
I think that movement releated with hitting support was already done by this huge pump. Everyone who was waiting for support to buy is already holding bags. In my opinion price will slowly break support and accelerate to lower levels (if bitcoin remain stable as it is now, when bitcoin pump sys may pump too). |
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Coinbase is not even a bitcoin wallet! how can it be the "best"?
a bitcoin wallet has a clear definition, it is an application that you control the private keys and your coins with it. when you use Coinbase you have an account not a wallet. you don't have any private keys hence you have 0 control over your money. all the numbers you see in your so called Coinbase wallet are like a "promise" that Coinbase may or may not keep, you can even call it IOUs.
Exactly. Its like holding your coins on any other exchange. Bitcoin core dowloaded and installed on device plugged to internet only for transfers gives you full security. Any services are only giving you access to your bitcoins stored on their wallets. |
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I have deposit some coins in ForkDelta using Metamask. Everytime I want to withdraw the coin, the transaction always failed. I tried to increas the gas price but the problem remains the same. Does anyone here experience the same thing? What did you do to resolve the issue? Thank you in advance.
Gas price is not a thing that can make your transaction to fail. If gas price is to low transaction will wait for days to be calculated by blockchain but will never be failed. Low gas limit may be reason for that. It works like this: gas price gives your transaction priority to be first in line to be comuted Gas limit is number shows maximum amount of computing units blockchain should spend beafore throwing "fail". Its made to prevent wrong code beeing computing in loop for days for thousends of dolars for 1 transaction. Jump to your transaction in etherscan.io and if Gas Limit: f.e 37300 is equal to Gas Used By Txn: f.e 37300 than gas limit was too low. Try to increase it but remeber that transaction cost will be higher. |
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oh thank you! this is a VERY clear explanation!
A couple of more questions though:
1. this is minor thing but I'm curious: is sat acronym = "selling at"?
2. let's imagine an extreme scenario:
BTC is 5999USD. A seller (A) has a huge selling order, say 1 billion at 6000USD. None else is selling lower in this very moment.
Say that there is an amount of buyers ready to buy at 6000USD but all of them together can't eat the A's entire selling order. Say that all of them together can eat 750 millions.
Will A's order be put on hold? Can the exchange sell just 3/4 of A's order? How does it work?
1 - SAT is Satoshi - 1/100mln btc - 0.00000001 BTC - smallest part of bitcoin 2- "A" will sell as much as others will try to buy. His order will decrise with every realized buy order. Traders dont know each other. They just place buy order and if there is sell order at the same price (same amount is not required) exchange will realize as much as it is possible rest of order will last on exchange as long as someone will realize it or "a" will cancel it. |
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You can read this math speculation - https://bitcointalk.org/index.php?topic=4460964.msg39964620#msg39964620 - i think it can interrest you. Answering your question: All you need to do is take a look at sell walls. ,  In this situation to pump bitcoin 1 $ up you dont need to eat any orders- closest is 2 $ up. So all you need to do is place order 1$ higher and if someone will sell to you at liest 1 sat price will be 1$ higher. 1 sat is enought. For bigger pomps you will have to canlculate order needs to be fulfilled to go to that price (10$ - 2+19+2+27+10=~60 BTC to eat ~ 400 000$). But market is alive. When you will start to eat walls market will react creating new or will start to pump with you or will try to dump you. Thats why it is inpossible to calculate this. Price is also arbitraged through exchanges and through trading pairs in the same exchange. Thats why even if you will spend 1 mil to pump bitcoin by 50 $ than sell order would appear and dump price for 40$ by supply bought from other exchanges. |
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Well its like:
binance account:
1 mil $
bitcoins worth 1 mil $
bittrex account:
1 mil $
bitcoins worth 1 mil $
binance bitcoin price is higher than bittrex you sell on binance and immediatly buy on bittrex as much as you can (your arbitrage will affect price and decrise price difference)
binance account:
500 000 $
bitcoins worth 1,5 mil $
bittrex account:
1,5 mil $
bitcoins worth 500 mil $
binance bitcoin price is lower than bittrex you buy on binance and immediatly sell on bittrex as much as you can (your arbitrage will affect price and decrise price difference)
binance account:
1 mil $
bitcoins worth 1 mil $
bittrex account:
1 mil $
bitcoins worth 1 mil $
And you are back where you were with profit. In this strategy you miss transfer cost and transfer time. I dont see a chance to do it with low capital, without bot and without special conditions from exchanges (huge players has low fees what makes them profitable in moment when you will still be unprfitable)
Manual arbitrage is still profitable in some circumstances. For example when price is skyrocking you can search through low volume exchanges (mostly decentralized) and buy coins there, where price was not pumped yet and transfer to big exchanges - with risk of price drop during transfers (i do it with price difference over 30%). Those exchanges are mortly not arbitraged by huge players.
Arbitrage can be done on 1 exchange too. Buy alt for btc sell to eth sell to $ buy btc and circle is complited. But it is impossible to do it without special conditions from exchange and fast trading bots.
Sometimes manual arbitrage can be profitable on small volume new exchanges in simples possible way (buy alt for btc sell to eth sell to $ buy btc and circle is complited) but its just for fun or timekilling stuff rather than big money earning. 50$ daily is great achivement that way
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one of the good things about cryptocurrency market is that the exchanges allow you to start trading with a small amount. there are even exchanges out there that allow orders as small as 0.00001000BTC which is about 6 US cents! you can invest about $10 and start your trading journey and gain experience.
Hey bud, do you have recommendations on how much amount for us to start trading? Can a $50 enough for me to become a day trader? To be honest, i want to become a day trader but i am afraid because i don't have that ability to interpret a chart and they say that trading is not for everybody. Is it true that this trading thing is not for everyone? or is it just a myth? 50$ is ideal amount to learn. Go to binance (~6$ min bet) and just start daytrading. Make as manny trades as you can and as manny mistakes as you can. Learn from each. Dont be scared, what can possible go wrong? -20%? from 6 $ is 1,2 $ - and your experienced gained by this is priceless. After few days you will stop loosing. After month you will start earn. Than slowly increase your investment (if you will be good enought it will increase itself). But remeber. Market is different each day and has cycles - when you just start to earn dont put all your money into next trade. As OP said. If you would invest in late 2017 you will earn no matter what decision would you make. Same could happend july-november where you will be succesfull trader on 10$ bet to put in november 10 000$ and loose all on diffrent market cycle. |
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1- low volume - high spread (up to 1000%) - inpossible to trade
2- high transaction cost and time- all transactions has to go through blockchain - it consumes time for confirmation and money (10 cents to few dolars for each transaction) - inpossible to trade
3- needs knowledge to use - wrongly set GWEI and your transaction can stuck for weeks waiting for confirmation.
4- weak interface
This examples explains why all crypto users trade on centralized exchanges and use decentralized only for coins not listed on centralized or listed on shady, untrasted exchanges.
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Hello i am newbie here and i am newly trader can someone give some information which exchange is the best for buying altcoins ?
If you are beginner in this field you must gain some knowledge in trading platform then only you will earn profit. But my advice is first choose the right altcoin then plan to trading site. because if I am suggest bittrex or binance it is top sites but you choose your convenience altcoin that is not listed in these sites you only disappoint on it. So better pick the coin then analyse the good trading site. If you are begginer stop thinking about yourself as a pro. If you are begginer 100 alts which are on binance is more than enought to cause headache. Im sure with newbie experience he wont find anything more interresting than it is on binance especially if almost every coin has multiple copies with different name doing the same thing. If he want to invest in platworm made to create decentralized applications - there is eos, ETH, stellar, ,ZRX, NANO, NEO, NEM, WAVES and many more (even VEN will allow that after lauching mainnet and becoming VET). As a newbie he wont be able to compare them. Thats why when you are newbie it is not important which coin will you choise - its important when will you choise it. Bigger coins are also safer (almost all bigest coins are on binance) Trading is not ivesting. Its more about feelling good moment rather than choosing great coin out of 2000 coins and search them through shit exchanges with various risks. i have accounts of coinbene, kucoin, bitfinex, uex, huobi, binance, cryptopia. For everyday use i choise binance. Very low fees, sharp (when you place order its on market in the same second), has great mobile app and desktop app with great interface. Its also the best secured in my opinion. Binance even helps users with hacked accounts - they have whose system for that and already prevented 2 massive theft form their users account from stolen API keys - they also started a Secure Asset Fund for Users (SAFU). Starting from 2018/07/14, they will allocate 10% of all trading fees received into SAFU to offer protection to users and their funds in extreme cases. Binance also doesn't requires KYC - at liest if you plan to withdraw less than 2 btc daily. Acording to fees, sharpness, interface, sense of security i would rank them 1- binance 2- nothing 3- nothing 4- nothing 5- huobi 6- bitfinex 7- kucoin 8- cryptopia 9- coinbene 100- uex |
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don't confuse the situation with SYS with a pump. it was a bug in Binance platform. speaking of real pumps, they are good ways of earning a lot of money in a short time. should you take part in them? when you trade altcoins you are participating in pump and dumps because that is inevitable since all of them are pump and dumps. but it depends on how you participate in them. if it is by following some pump group that tells you what to buy then it is a big mistake because they are all scams that aim to take your money from you. but if it is on your own by detecting the pumps and then jumping on the rocket and getting off on your own based on your experience then it is the right way of doing it. I have been doing this for some time now and I have been making good profit. It was hackers method to transfer money from hacked accounts (stolen api keys) to his account/accounts without doing multi withdrawals.
do you have any proof that this was a hack and not a bug? I haven't really been following this news! Not a binnace hack but binance users API phishing- https://support.binance.com/hc/en-us/articles/360006675312 - its not directly written but as you see they blame APi keys and reset all api keys to stop futher actions related with api keys (any other than stolen API ? ) Exacly the same situation with the same anormous pump happend on 7.03.2018 - https://support.binance.com/hc/en-us/articles/360001547431 - and also API keys That makes me assume that situation from 7.03 was repeated on SYS. |
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My question is:
Is there any crypto to fiat exchange (no matter new/old, trusted/ or not, regulated/ unregulated and etc.) or market which accepts bank card payments and doesn’t require ID verification?
An exchange site that accepts bank card payments that I don't know of, but for an exchange site that doesn’t require ID verification, you can try Binance. So far I have been using their site for quite sometime now and they have not required me to send them a copy of my id's. With a lot of fraudsters around, I don't think there is an exchange site that accepts bank card payment and ID's not required. They also have to protect their business. This guy wants to buy crypto for fiat without ID. Not crypto to crypto trading. Binance plans to launch this but not yet. I would try to find someone on https://localbitcoins.com - its service where you buy coins from users - even for cash. |
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Sys was not a regular pump.
This pomp was +200 000 000% and for a moment 1 sys was worth almost 100 btc (600 000$) and sys marketcap was 300 000 000 000 000 $ which was more than 1000 times more than whole market.
It was hackers method to transfer money from hacked accounts (stolen api keys) to his account/accounts without doing multi withdrawals.
What was his strategy?
1- buy sys coins and set sell wall at 96 btc/ 1 sys - +200 mln %
2- run bot that will use api keys to make market buy order on every hacked account - some of them was lucky to eat oryginal sell walls others hit his sell wall.
3- sell his sys to hacked accounts with 2 mil times profit
4- do 1 quick withdraw
binance catch it and block withdrawals and undo sys transactions.
Every pomp is uncatchable (especialy this one)- if you see it it is already to late because you dont know who is doing it and how much money left he has, but you can profit by seeing this pomp by trading on waves after pomp - if you are experienced enought.
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There are many exchanges out there. Which one do you use and why?
Thanks!
I like new exchanges and among them Coinex, Coinbene, Gate are my most interesting exchanges since these are new exchanges and very good trading volume in recent times. I personally use Binance exchanges but Binance recently repeatedly made mistakes and caused many people to lose their money at this exchange. I think people should choose new exchanges because these are exchanges that can help us make a good profit What a nonsense. You win a contest for the worst post ive read this week. What mistakes? They didnt do any and also protect those users who cant protect their own API key. Tell them that binance made mistakes. Their API key was stolen, hacker used it on exchange, binance detect it, locked withdrawals and give back token to users - name another exchange with that attitude to user. I think people should choose new exchanges because these are exchanges that can help us make a good profit
It is like "last time i bought lottery ticket in this store and i didnt win, next time ill buy lottery ticket in the same lottery but in different store". I have been registered with many exchanges, but currently I like to do most of my trades on small exchanges rather than big exchanges.
I feel comfortable while trading in these small exchanges, though some trade takes couple of days to fill up, but it's ok for me. As soon I grow in confidence in trading, I will shift to bigger exchanges.
Smaller exchanges are harder for newbies - higher spread - less space for mistakes. Who said to You that small exchanges are for newbie and big for experienced? |
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There are many exchanges out there. Which one do you use and why?
Thanks!
If you want to find out what is the best exchange there is then you should try to pick for the one who is the number one of them all, but their would be a problem since it is the number one then hackers will try to hack that exchange. If the biggest exchange will be hacked in small scale it will cover users losts (like bithumb did when he lost 40 mil in hack) - you will lost nothing no matter if you are inside or outside of the biggest exhange If the biggest exchange will be hacked in big scale whole market will suffer and bitcoin will stop at 1-2k - like after mtgox hack - you will lost 80% of your investment beeing outside of biggest exchange or 100% beeing inside of biggest exchange. If small exchange will be hacked in any scale they will probably disapper - you will lose 100 % of your investment beeing inside and 0% beeing outside This arguments shows that it is better to choise big exchanges - even if they are on the hackers radar - they also have more money for better protection. |
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There are many exchanges out there. Which one do you use and why?
Thanks!
i have accounts of coinbene, kucoin, bitfinex, uex, huobi, binance, cryptopia. For everyday use i choise binance. Very low fees, sharp (when you place order its on market in the same second), has great mobile app and desktop app with great interface. Its also the best secured in my opinion. Binance even helps users with hacked accounts - they have whose system for that and already prevented 2 massive theft form their users account from stolen API keys - they also started a Secure Asset Fund for Users (SAFU). Starting from 2018/07/14, they will allocate 10% of all trading fees received into SAFU to offer protection to users and their funds in extreme cases.. Rest of them i use only if coin that i want to sell/buy is not listed on binance. Acording to fees, sharpness, interface, sense of security i would rank them 1- binance 2- nothing 3- nothing 4- nothing 5- huobi 6- bitfinex 7- kucoin 8- cryptopia 9- coinbene 100- uex I also use decentralized forkdelta for coins not listed on any centralized exchange (mostly from airdrops). |
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