Cryptocurrency, who has it?

[SearChart]

Rip Bitcoin? Or time to buy?

[armen34]

Originally Posted by SearChart

Rip Bitcoin? Or time to buy?

Btc and ltc... I'm not a long term hold strategy on crypto. I started day trading it just recently.

[tbonesteak]

Gonna get a rinse and repeat... They'll buy the coins back up, all while building a short position in leveraged futures, and slam the coins.

Suckers will be caught in the middle.

[Etschell]

Originally Posted by tbonesteak

Gonna get a rinse and repeat... They'll buy the coins back up, all while building a short position in leveraged futures, and slam the coins.

Suckers will be caught in the middle.

exactly. charie lee pointed this out 1 1 2018.

i actually bought ltc at 142 today.

btc is going to ath. watch them pump it.

easy peasy. same thing they do with equities and commodities.

[ronricks]

Bought $1000 of Litecoin today for the heck of it.

[tbonesteak]

Originally Posted by ronricks

Bought $1000 of Litecoin today for the heck of it.

I don't get anyone buying this. The founder sold 100% of his stake, isn't that a red flag for anyone?

[TommyT53]

Originally Posted by ronricks

Bought $1000 of Litecoin today for the heck of it.

I did the same yesterday, along with some ethereum and Bitcoin... cannibis stock too. Felt a little wild and crazy. Time will tell and it was discretionary money.

[TC94]

Lengthy but I think a great read:

https://www.nytimes.com/2018/01/16/m...bble.html?_r=0

[Amplifiednation]

I bought a bunch of ether on sale.

[Etschell]

Originally Posted by tbonesteak

I don't get anyone buying this. The founder sold 100% of his stake, isn't that a red flag for anyone?

not really. he is still developing it and works for the litecoin foundation. also donates money to the foundation.

charlie isnt stupid. something goes from 4 bucks to 100 200 350 you sell.

[dadonn2]

Wow. Good to see a crypto thread and after perusing, it appears I'm not the only alt junkie who knows the difference between POW and POS. Cheers y'all. ICO season seems to be upon us. Dadi plagiarized SONM, Matrix's fomo is looking a lot like the ICX train, I love what Legolas is doing and a number of interesting projects. It's also reassuring to know that there are insulting trollish type posters hoping that someone is interested in filling them in. DYOR :)

[Andad]

Originally Posted by SearChart

Rip Bitcoin? Or time to buy?

Will the holders jump out or the buyers jump in.

Your call Bas.....

[Gaijin]

I have a few friends doing this.

I don't understand it and they can't really explain it to me so it is a no for me. I won't bash it because again I don't really get it.

To those that are doing it you've got huge stones. I haven't the stomach for it.

However I wish you all the greatest success.

[dadonn2]

Originally Posted by directioneng

Will the holders jump out or the buyers jump in.

Your call Bas.....

The futures contracts are expiring so that would be reason to rinse and repeat re: spike the price. I think there's a degree of ennui with BTC right now. Just not a lot of buyer interest. The bigger picture to me is, as BTC dominant market share has shrunk, when will the alts decouple and stand alone.

[Etschell]

Originally Posted by dadonn2

The futures contracts are expiring so that would be reason to rinse and repeat re: spike the price. I think there's a degree of ennui with BTC right now. Just not a lot of buyer interest. The bigger picture to me is, as BTC dominant market share has shrunk, when will the alts decouple and stand alone.

the problem is it is the wild wild west right now.

you have alt coins that wont ever work, such as a flight related alt coin that wants to be used in aviation. you know how hard that is to pass by the faa? right now currency traders are pumping and dumping alt coins. every day a new alt coin spikes and then retraces.

people will always hold btc. the alt coins 1 out of every 1000 will make it.

if you really like altcoins just trade them but buy and hold eth. it is the development platform for mostly all of them so it is the king of alt coins.

[Constantine]

I don't know much about this topic (have never bought any crypto), but in the last few days I have been hearing lots of noise about Tethers*. It appears that these are being printed on a massive scale, currently 100 million per day for the last 5 days.

Do you think this is legitimate, i.e. there are actually 100mil USD flowing into tether each day, or are these being printed out of thin air? The rumours I've been hearing are that the tethers are being printed just to prop up the prices of the various currencies.

Aren't you concerned, especially if you use an exchange that uses USDT, that this might implode if people try to convert their USDT back to USD and discover that it's not possible? There could even be a knock on effect to the other exchanges if Tether suddenly blows up, and people start moving their Bitcoins from Tether exchanges to USD exchanges and try to sell.

This is the link where you can see all the Tethers being issued: http://omniexplorer.info/lookupadd.a...o5LsPTW1zBTwXL


*For those who don't know, Tether is a cryptocurrency pegged 1:1 to the dollar. I.e. you pay them a USD they give you a USDT. Or you can redeem a USDT and get a USD back. The purpose is that you can take these tethers to exchanges that do not have bank accounts and therefore you cannot trade with real money, so you trade with USDT which has the same value. According to the terms of Tether, USDTs are fully backed by USD in their reserve account.

[OliveSales]

Originally Posted by Constantine

I don't know much about this topic (have never bought any crypto), but in the last few days I have been hearing lots of noise about Tethers*. It appears that these are being printed on a massive scale, currently 100 million per day for the last 5 days.

Do you think this is legitimate, i.e. there are actually 100mil USD flowing into tether each day, or are these being printed out of thin air? The rumours I've been hearing are that the tethers are being printed just to prop up the prices of the various currencies.

Aren't you concerned, especially if you use an exchange that uses USDT, that this might implode if people try to convert their USDT back to USD and discover that it's not possible? There could even be a knock on effect to the other exchanges if Tether suddenly blows up, and people start moving their Bitcoins from Tether exchanges to USD exchanges and try to sell.

This is the link where you can see all the Tethers being issued: http://omniexplorer.info/lookupadd.a...o5LsPTW1zBTwXL


*For those who don't know, Tether is a cryptocurrency pegged 1:1 to the dollar. I.e. you pay them a USD they give you a USDT. Or you can redeem a USDT and get a USD back. The purpose is that you can take these tethers to exchanges that do not have bank accounts and therefore you cannot trade with real money, so you trade with USDT which has the same value. According to the terms of Tether, USDTs are fully backed by USD in their reserve account.

This is definitely a recipe for disaster if it ever comes time that Tether gets put to the test when everyone wants to cash out at the same time. As of right now we need more clarification from exchanges on whether Tether is going to be backed by them 1:1.

[brockburst]

Originally Posted by Constantine

I don't know much about this topic (have never bought any crypto), but in the last few days I have been hearing lots of noise about Tethers*. It appears that these are being printed on a massive scale, currently 100 million per day for the last 5 days.

Do you think this is legitimate, i.e. there are actually 100mil USD flowing into tether each day, or are these being printed out of thin air? The rumours I've been hearing are that the tethers are being printed just to prop up the prices of the various currencies.

Aren't you concerned, especially if you use an exchange that uses USDT, that this might implode if people try to convert their USDT back to USD and discover that it's not possible? There could even be a knock on effect to the other exchanges if Tether suddenly blows up, and people start moving their Bitcoins from Tether exchanges to USD exchanges and try to sell.

This is the link where you can see all the Tethers being issued: http://omniexplorer.info/lookupadd.a...o5LsPTW1zBTwXL


*For those who don't know, Tether is a cryptocurrency pegged 1:1 to the dollar. I.e. you pay them a USD they give you a USDT. Or you can redeem a USDT and get a USD back. The purpose is that you can take these tethers to exchanges that do not have bank accounts and therefore you cannot trade with real money, so you trade with USDT which has the same value. According to the terms of Tether, USDTs are fully backed by USD in their reserve account.

For someone who doesn’t know a lot about crypto and has never bought any you seem to know a lot about crypto and seem to care even though you don’t own any? Your odd intro aside, yes it can be a huge problem, if it’s a scam.

http://tonyarcieri.com/the-tether-conundrum

[Constantine]

Originally Posted by OliveSales

This is definitely a recipe for disaster if it ever comes time that Tether gets put to the test when everyone wants to cash out at the same time. As of right now we need more clarification from exchanges on whether Tether is going to be backed by them 1:1.

My understanding, and please correct me if I am wrong as I have only spent a couple of hours reading about this, is that the only one who backs USDT are Tether themselves. The exchanges that support USDT treat it simply as any other cryptocurrency and don't care or have any responsibility for what happens to its value.

[Reddy_Kilowatt]

I'm just going to leave this right here.

https://www.theguardian.com/technolo...cryptocurrency

[Constantine]

Originally Posted by brockburst

For someone who doesn’t know a lot about crypto and has never bought any you seem to know a lot about crypto and seem to care even though you don’t own any? Your odd intro aside, yes it can be a huge problem, if it’s a scam.

http://tonyarcieri.com/the-tether-conundrum

Thanks for the link, I will take a look.

I honestly don't know much about this and have no personal stake. I just saw some tweets on my feed about this and it piqued my interest so I spent 1-2 hours trying to understand, but it's hard to find objective information, everyone seems to be very passionate about this one way or the other. This is why I came here, to see if someone knows more.

[OliveSales]

Originally Posted by Constantine

My understanding, and please correct me if I am wrong as I have only spent a couple of hours reading about this, is that the only one who backs USDT are Tether themselves. The exchanges that support USDT treat it simply as any other cryptocurrency and don't care or have any responsibility for what happens to its value.

Tether has already announced that all USDTether is backed 1:1 to the US Dollar.

[JUSTIFIED]

Originally Posted by Reddy_Kilowatt

I'm just going to leave this right here.

https://www.theguardian.com/technolo...cryptocurrency

Here's the answer for that https://thenextweb.com/cryptocurrenc...ots-take-jobs/

If that's our future.... I'm out. Lol.

[armen34]

As of right now I'm in and out like a day trader... as long as I get my money when I want to cash out I'm happy!

[dadonn2]

Originally Posted by Etschell

the problem is it is the wild wild west right now.

you have alt coins that wont ever work, such as a flight related alt coin that wants to be used in aviation. you know how hard that is to pass by the faa? right now currency traders are pumping and dumping alt coins. every day a new alt coin spikes and then retraces.

people will always hold btc. the alt coins 1 out of every 1000 will make it.

if you really like altcoins just trade them but buy and hold eth. it is the development platform for mostly all of them so it is the king of alt coins.

Saying most projects won't make it goes without saying. I've held a number of altcoins that have far outperformed ethereum. Your knowledge is obviously quite thin but you're pretty comfortable telling me what I should do if I like altcoins. Ethereum has latency and scalability issues to contend with although I think Vitalik and Company will do just fine. "Blockchain 3.0" platforms hold considerable promise as well, EOS' graphene engine, tendermint and dag technologies are causing a shake up but I'm sure you're up to speed on the platform plays- ARDR, Waves, KMD, ICX, Cardano and the litany when you told me to only hold ethereum. I've held NEO since it was Antshares, bought OMG the day it was listed on Bittrex among others but I appreciate your officious nature.

[Etschell]

Originally Posted by Reddy_Kilowatt

I'm just going to leave this right here.

https://www.theguardian.com/technolo...cryptocurrency

you realize that power plants pump out power whether consumed or not right. there is only an off on switch. that is it.

[Etschell]

Originally Posted by dadonn2

Saying most projects won't make it goes without saying. I've held a number of altcoins that have far outperformed ethereum. Your knowledge is obviously quite thin but you're pretty comfortable telling me what I should do if I like altcoins. Ethereum has latency and scalability issues to contend with although I think Vitalik and Company will do just fine. "Blockchain 3.0" platforms hold considerable promise as well, EOS' graphene engine, tendermint and dag technologies are causing a shake up but I'm sure you're up to speed on the platform plays- ARDR, Waves, KMD, ICX, Cardano and the litany when you told me to only hold ethereum. I've held NEO since it was Antshares, bought OMG the day it was listed on Bittrex among others but I appreciate your officious nature.

key word is so far. ever heard of kbio? what about plug power.

i understand the constraints of eth. but by your own admission had you been holding eth since the begging youd be far better off than holding neo.

technology only matters if people care. sheep buying coins dont care and traders never ever care.

if you want my opinion on an alt coin that will out perform it is bnb.

[Reddy_Kilowatt]

Originally Posted by Etschell

you realize that power plants pump out power whether consumed or not right. there is only an off on switch. that is it.

I absolutely realize that. What's your point?

[jschmidtdmd]

Looking forward to following VEchain (VEN) through it's rebranding process! Exciting coin.

[Etschell]

Originally Posted by Reddy_Kilowatt

I absolutely realize that. What's your point?

power consumption is irrelevant.