I finally have full access to my coins, I just transferred them locally to my exodus wallet. I was getting a little worried, it took my bitcoin about an hour to finally transfer. My ethereum took a second.
posted by justincredibleBitcoin and Litecoin are both trending down today. Did you sell end up selling yours, Terry? Litecoin is sitting at $320 right now.
I'm most likely selling before going to bed tonight. Have a floor and a ceiling in mind so if it hits either one I'm going to sell so I don't have to worry about it anymore.
I'm on Coinbase though, and haven't had an issue with either the Bitcoin I bought a few months ago (wish I had waited to sell that!) or the Litecoin. I know at heavy trading times the app has been funky, but overall no big issues for me on it like you've had.
posted by justincredibleI finally have full access to my coins, I just transferred them locally to my exodus wallet. I was getting a little worried, it took my bitcoin about an hour to finally transfer. My ethereum took a second.
The big issue I take with most coins, even some of the ones that are "hot," is that they don't offer enough to delineate them from the others. This, however, is something Ethereum is alleged to have. Transactions, as a general rule, take less time.
This is a big fear of missing out situation right now. People are just learning about this stuff and buying so they don't miss the boat. People who buy (not citing people on this site) then become the conductors of the hype train and every person who buys tells people who haven't been exposed. This is what happened with Ripple earlier this week. They said the South Koreans are very 'word of mouth' people and Ripple exploded because nobody wanted to miss out.
posted by TBone14This is a big fear of missing out situation right now. People are just learning about this stuff and buying so they don't miss the boat. People who buy (not citing people on this site) then become the conductors of the hype train and every person who buys tells people who haven't been exposed. This is what happened with Ripple earlier this week. They said the South Koreans are very 'word of mouth' people and Ripple exploded because nobody wanted to miss out.
Yep. FOMO is a strong driver of hype that outgains value like this.
Yeah, I've been watching and planning to buy Ripple for a while now. It shot up from $.24 to $.78 in the past few days and I haven't had a chance to buy yet. At this point I fear a drop so I'm leery to buy in right now.
Now it's $.84. Got damn.
Coinbase added Bitcoin Cash to their site today, and it's value has risen about 40% already. Meanwhile Bitcoin has taken a pretty big dump. I didn't realize they were adding Bitcoin Cash today, but I knew they talked about adding it soon. I was wanting to exchange some of my Bitcoin for it as I knew it would go up as soon as it was available on Coinbase, but hadn't yet. Bummer. If you hear reputable chatter of them adding a new coin, start buying. Short terms gains seem like a pretty sure thing, at least for their next offering or two.
I heard a lot of buzz about BCH. Never got in on it, but I'm not exactly heartbroken.
Picked up some Golem again yesterday. It's up a little bit. Was up much more, but it's still early in the day. Seems like almost everything dips in the morning.
Coinbase prices have tanked over the last day. BTC down to $12k.
posted by justincredibleCoinbase prices have tanked over the last day. BTC down to $12k.
Shocker
Less than a week after trading futures began. Color me not surprised.
Just HODL. They'll go back up.
posted by O-TrapLess than a week after trading futures began. Color me not surprised.
Just HODL. They'll go back up.
I guess people weren't willing to wait for their returns to become a capital gain instead of ordinary income...
In related news, Long Island Ice Tea company - which makes tea and has nothing to do with cryptocurrency - changes its name to Long Blockchain...and saw its stock price rise 200%.
GTFO out of BTC!!!
posted by gutIn related news, Long Island Ice Tea company - which makes tea and has nothing to do with cryptocurrency - changes its name to Long Blockchain...and saw its stock price rise 200%.
GTFO out of BTC!!!
What a time to be alive ...
I finally got my identity verified on another exchange so I can start buying again. I'm expecting another big dip after the new year.
posted by justincredibleI finally got my identity verified on another exchange so I can start buying again. I'm expecting another big dip after the new year.
I agree. I expect it to be larger, as well.
posted by O-TrapI agree. I expect it to be larger, as well.
What a wild ride....If it dips big, I might throw some money at it for shits and giggles. Odds are at least as good as the blackjack table, right?
After this next sell-off, that might be the end of the roller coaster as it has all the hallmarks of a bubble implosion. Although I'm guessing the speculators will try to make another run at it because I don't suspect the run-up was really driven by all that much amateur "investor" money.
ELI5: How does this have any value beyond use in the illegal and blackmarket?
It seems to have less backing than any government fiat currency.
posted by Verbal KintELI5: How does this have any value beyond use in the illegal and blackmarket?
It seems to have less backing than any government fiat currency.
It's value, IMO, comes from the technology it's built on, and it's decentralized nature. There's no Fed to inflate the supply (there will only ever be 21 million bitcoins in existence).
I don't know who Charlie Stross is, but his quote in this Krugman blog is a big reason that I'm interested in the technology.
https://krugman.blogs.nytimes.com/2013/12/28/bitcoin-is-evil/
BitCoin looks like it was designed as a weapon intended to damage central banking and money issuing banks, with a Libertarian political agenda in mind—to damage states ability to collect tax and monitor their citizens financial transactions.
BTC down to $12,600 on coinbase right now.
posted by justincredibleIt's value, IMO, comes from the technology it's built on, and it's decentralized nature. There's no Fed to inflate the supply (there will only ever be 21 million bitcoins in existence).
I don't know who Charlie Stross is, but his quote in this Krugman blog is a big reason that I'm interested in the technology.
https://krugman.blogs.nytimes.com/2013/12/28/bitcoin-is-evil/
BitCoin looks like it was designed as a weapon intended to damage central banking and money issuing banks, with a Libertarian political agenda in mind—to damage states ability to collect tax and monitor their citizens financial transactions.
Is the 21M backed by anything particular.
I dislike Paul Krugman's economic points of view.
posted by Verbal KintIs the 21M backed by anything particular.
I dislike Paul Krugman's economic points of view.
LOL, I read the first paragraph and quit as soon as Krugman threw "most economists" under the bus for "failing to distinguish positive from normative economics".
The truth is, Krugman is generally not taken very seriously by the economics community since he quit being objective (and basically quit being an economist) and began pushing the liberal agenda, couched in "normative economics", for the NY times or whichever liberal rag he works for these days.
https://www.newyorker.com/news/john-cassidy/interview-with-eugene-fama
"Krugman wants to be the czar of the world. There are no economists that he likes. (Laughs)"
"(Laughs) My attitude is this: if you are getting attacked by Krugman, you must be doing something right."
- Gene Fama, Nobel Laureate University of Chicago
I hope my quoting from the Krugman blog didn't give you the wrong impression, I'm not a fan of his either. I haven't listened in a while, but I used to listen to a podcast called Contra Krugman that was specifically created to refute Krugman's weekly NYT column.
posted by Verbal KintIs the 21M backed by anything particular.
I dislike Paul Krugman's economic points of view.
It's backed by the belief in the techology it's built on. Also, it's not backed by debt, which is nice.