Bitcoins/Litecoins/Virtual Currencies

Not make me rich, I know that much. I'm much too risk averse to do more than dabble. I could sling several thousand into a coin if I wanted, but I'm really just betting on black and letting it ride. I'm not a day trader, nor do I have time to sit and watch charts all day. I'm lucky enough to check reddit for a few minutes at lunch.

ETH is stable enough, and I trust some really smart people who are building businesses on top of it, that I don't feel quite like the advantage is all on the house. Until yesterday's freefall I was up $500 on no effort at all. I've no doubt it'll pop back. I'm just not willing to put a ruinous amount of money forward.

Ravishing said:

typical alt coiner.

if he bought it early he might have 2-3 eth, or maybe he's breakeven with 1 eth, but if it goes back to 1300, making 33% is still great and a lot less risky. Not everyone is willing to gamble on the alt coins.

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I've been gentle with you Ravishing. You're going to find out the hard way. Bitcoin can either walk away graciously or be dragged out violently. Its a slow as fuck high fee dinosaur. It's the Genesis. I will give it that much but that is all. When Ripple takes over at 7 dollars and BTC crashes into the fucking ground I just hope it wont take the market with it. !remind me in 345 days

XLM is backed by IBM. ALT COIN LOL. Jesus take the wheel for Ravishing

Big Phoenix said:

Anyone commit suicide yet?

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The soft hands who keep buying high and selling low

Can someone answer a noob question for me? What is the difference between GDAX and Coinbase if they're owned by the same company? Why do I need to transfer between them? I don't understand the purpose of having both.

Heylel said:

Can someone answer a noob question for me? What is the difference between GDAX and Coinbase if they're owned by the same company? Why do I need to transfer between them? I don't understand the purpose of having both.

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To dodge fees. You can do Coinbase --> Binance-> Your wallet but Coinbase--->GDAX--> Binance--> is cheaper

I meant what's the point for Coinbase. I get that the fees are lower on GDAX. It's also annoying to have to wire transfer shit.

It's ironic to me that this is ostensibly a currency market and yet it's such a fucking hassle to transfer actual money into jeffrey bucks.

I still seem to be up on my tiny, tiny ripple deposit just to try out binance. No fucking clue on that one.

One of these days I'll get around to understanding trading strategies. There seems to be an awful lot of hindsight bias in this whole thing.

Ravishing said:

I listen to what you say here because you're into that market, but lets be real, it's super risky. Much riskier than the mainstream coins on Coinbase... which all go up/down together pretty much.

XRP in the past month was like 70cents --> 3 bucks --> now 90cents? It's a wild ride, credit to you to ride it, I'm also more risk adverse at this point in my life. If this was 10-15 years ago I'd be throwing mad bucks at all of it for sure.

I have no idea what BTC will do, but I don't see it dying anytime soon, too much money in it now.

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Btc also went from 19k to 13k to 17k to 9 k in one month. ETH I believe has been the most solid. I just dont see the point in owning 1 of any coin. The ship has sailed. You either got in when it was cheap or have 100k to buy 100 ETH

Ravishing said:

yea, 50% compared to the 70% drop of XRP, but i see XRP is 1.50 now? So back to 50%... its all crazy though

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As is the month of Jan for any coin or stock since the beginning of time my friend

vGrade said:

XLM is backed by IBM. ALT COIN LOL.

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Backed by IBM? And Bitcoin is the dinosaur? Can't tell if trolling.

I actually had some Stellar. I did the air drop last summer and held it until December. Sold it because Bittrex was stealing money (including mine) by demanding KYC and disabling withdrawals without warning so I moved all my money out of Polo (since I had to VPN to use it) but converted it to BTC since who uses a Stellar wallet? Stellar then went up like 10x. Pissed me off. Fuck you Bittrex.

vGrade said:

Btc also went from 19k to 13k to 17k to 9 k in one month. ETH I believe has been the most solid. I just dont see the point in owning 1 of any coin. The ship has sailed. You either got in when it was cheap or have 100k to buy 100 ETH

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It's all percentages though, right? Making $300 is the same as making $3000 on 10x the investment. It's all a question of risk.

I'm the guy that goes to vegas and sits at a slot machine long enough for a waitress to drop off a free beer. I work too damn hard for my salary to throw dice with all of it. I'll take fun money and treat it like a sunk cost, but to me this is no different than buying old magic cards. I'm not spending anything without accepting the worst case scenario that it's gone forever.

Heylel said:

I meant what's the point for Coinbase. I get that the fees are lower on GDAX. It's also annoying to have to wire transfer shit.

It's ironic to me that this is ostensibly a currency market and yet it's such a fucking hassle to transfer actual money into jeffrey bucks.

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I misunderstood. Coinbase is what people were using to get their feet wet and it's easy to use for anyone who has never dealt with buying /trading. It also took forever to get fully verified on GDAX and you needed a web cam for picture verification which believe it or not some people just did not have. If you are set up on GDAX now there is no reason to use coinbase to my knowledge other than you can't buy direct with credit/debit on GDAX.

Khane said:

Yes, and the institutions in question have to buy into XRP and hold XRP which they may not want to do and very well may choose to use the Ripple settlement system with fiat currency and eat the extra transaction costs instead. There are a lot of "ifs" when it comes to a company being willing to bet on XRP in the amounts necessary to be able to use it as their transactional intermediary currency.

Ripple's biggest hurdle right now is the fact that the developers hold way too much of the currency. The lower transaction costs aren't enough to offset that risk at the moment in my opinion. They are going to need to do something about that.

I'd like to see Ripple go public.

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How did I miss this? My favorite part of the day is when Khane comes at me.
Ripple is basically giving payment providers - we can use moneygram as an example - the ability to pocket the ~$5-10 transaction fees owed by the customer for each transaction. If Ripple is giving away millions of XRP at a discount (possibly less than a dollar?), then this is a no-brainer. Moneygram has over 350,000 locations, with who knows how many daily transaction.

Moneygram could also choose to lower their fees and make a run at competitors, while still raking in transactions fees that would only cost them pennies.

This is not the sports forum vGrade. Nobody is coming at you. You need to chill out with your "guarantees" and your "fuck you money". You've changed your story in here about what you've invested in and where you've put your money about 10 times and you've been nothing but antagonistic in every single one of your posts. You made some money on XRP and now you fancy yourself Clairvoyant. Best of luck.

Khane said:

This is not the sports forum vGrade. Nobody is coming at you. You need to chill out with your "guarantees" and your "fuck you money". You've changed your story in here about what you've invested in and where you've put your money about 10 times and you've been nothing but antagonistic in every single one of your posts. You made some money on XRP and now you fancy yourself Clairvoyant. Best of luck.

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I have no money in btc, eth, tron, doge or ltc so im not sure what you're talking about. Ripple and Stellar is it

Khane said:

So I just read up a bit on Stellar and... no thanks. It's not even decentralized and there is very little information on it.

EDIT: Oh, it's a fork of Ripple. And the founders of Stellar are claiming that's due to a flaw in Ripple and Ripple is like "fork you bro".

See this is the biggest problem with this crypto boom. I really do believe it's the next tech bust. Not cryptocurrency itself but all these companies trying to create payment platforms or blockchain implementations.

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I mean literally take what khaine the clairvoyant says like here when XLM was at 19 cents on the 28th and sell it a few days later at almost one dollar for profit. He has made me more money than anyone doing the opposite.. I will be sending him crypto at some point when he links an address. This is very much the sports forum as is it on reddit or Twitter or anyone else if you're paying attention

I can't help but feel that these are all just a high tech Ponzi scheme that are perpetuated more by people who are buying in to get rich rather than being used as actual legal tender.

Yeah you have some coffee shops that accept block chain whatever plus the misc doodads, but it still feels fundamentally wrong, especially with the meteoric rise in 'value'.

Have people done proper numerical modelling to assess the effect that having a steady, albeit decaying, influx of 'mined' currency injected to the system is having on overall currency stability? Normally if you have a commodity that fluctuates up and down it relies on the fact that for everyone who buys low and sells high there is some poor sap that buys high and sells low. Can the value of the freshly minted coins short circuit that and allow far more gains than losses?