I saw that there's no specific place where people place charts of the different crypto-currencies. With the Bitcoin halving approaching and several altcoins bottoming out it promises to be a volatile summer. Exciting for experienced traders and novices like me.
any thoughts on Ethereum? Seems like huge potential and still in its infancy. $11 per Ethereum , still below $1b mkt cap seems cheap given banks are looking at it as a basis for their crypto usage.
For what its worth in my opinion Etherium has f*cked up in epic style. Its very first Dapp, The DAO was a load of shit with major flaws highlighting the massive problems faced with creating any usable DAPP of any substance. Despite that many suckers (investors) piled in with huge amounts of money only to lose it all. To make matters even worse the ETH developers took it upon themselves to try and undo the DAO disaster by rolling back the blockchain and refunding the lost money. There was no way to win in this situation but the devs effectivly them showing that they can censor the blockchain as they wish thereby subverting the whole idea of a censorship resistant decentralised blockchain. Not to mention the conflict of interest that most eth devs were heavily invested in the pile of shit that was the DAO. This lead to the creation of a new Etherium called Etherium Classic which has the original blockchain but still suffers from the exact same difficulties of creating anything worthwhile. In long and short of it programmable blockchains have had a huge blow. It could take a long time to recover from that.
A brand new crypto has been hyped a lot which is called Zero Cash. Unlike bitcoin its blockchain is totally hidden, so therefore totally private, you can't see who sent, who received or what amount any transaction has. It sounds great right? The ultimate supply is supposed to be 21 million, same as bitcoin but with its amazing privacy when it was released it was selling for 22 bitcoins to buy only 1 zec !!!!!!!!!! Yes thats is correct it was 22 times more valuable than bitcoin (per token) on its launch!
But wait, not so fast. Its value proceeded to fall very steeply something like 1000% in the first day to less than 1 Currently it has rebounded and sits about 1.2 bitcoin to buy one zec.
I still cant believe it cost more than 1 bitcoin to buy a zcash. For a start, bitcoin is tried and tested for years. Zec is, well.. not.
I haven't even got to its dark secret yet. Here it is, the dark secret of ZCash. You can never ever be certain that there is no-one out there with the power to create as much zec as they want UNDETECTED. The technology behind its encryption requires that a secret key used to launch is destroyed without anybody seeing it or keeping a copy. If anybody or persons were to do that then they attain the power to create zec whenever they want. I'm sure my worries are groundless, no one would possibly be tempted to do that!? Hahahahahahahahahahahah. I'm sure they want it to be fair hahahahahahahahaha. Wait its ok, I hear you ask, someone can analyse the blockchain and see that there are too many coins? Hahahahahahha... no they can't you idiots you can't see any information about transactions the blockchain is not auditable hahahhaa UNDETECTED.
You should read up on Monero (XMR). It has the same hidden properties you describe, but I've also read (sorry - didn't save link) that it IS auditable so that one can prove the supply hasn't been secretly increased. They are also adding an update now (RingCT) that obfuscates the AMOUNTS of every transaction in the chain, not just the addresses of the sender/receiver. So it seems like pretty perfect privacy!!
Currently #5 by market cap: https://coinmarketcap.com/
Reply to: TFMR Podcast - Friday, June 30
silver10sguy by AIJ
I don't know if this is the best way but here is what I do:
I use Coinbase as my fiat portal, i.e. can buy on my phone
Almost all my BTC was purchased using the Android coinbase app on my phone
I never trade on Coinbase, only convert to fiat and transfer to my checking acc
I use Poloniex to trade a wider variety of coins
It becomes unstable in times of high volume
I use Kraken for most my trading / I trade most of my major coins on this exchange
More stable in times of high volume
I use Bittrex
Unique coins trade on this exchange
Personally I would join at least 3 exchanges and get the highest tier you can. This gives you more flexability and will prevent you from being shut down by exceeding your daily trading limits.
Nick and Neighbors:
Thanks for sticking through Clif's wanderings to get his take on the crypto market. I find Clif pedantic and hard to pay attention to. I do think he's onto something in the cryptocurrencies and listen to he and several other youtube commentators for my audio portion of research.
I do feel we're in the very early days of truly disruptive technology that will impact the world even more profoundly than the internet. I look at it as having the chance to buy Walmart, Amazon, Google, etc when they were trading for a few dollars a share.
The current velocity is simply the low market cap and tremendous interest that results in lots of BTFD moments.
Silver is still on sale and JMBullion accepts bitcoin for silver. Nice place to park one's profits. I think the bottom is in for silver and wondering if the day that manipulation fails is nearly upon us.
Time to attend to the important part of life and visit the garden for tomatoes, peppers and who knows what other goodies have shown up.
I've found the bitcoin wisdom 3 days per period chart interesting. It looks like for now it is safe to buy bitcoin when it is below the 30-period moving average (100 day)
Hi-to-lo pullbacks (range .59 to .66) more than 1/3 drop.
Lo to hi runs (range 1.8 to 3.3) more than 1.7 up
(the first low of 465 is not on this chart)
Dear Coinbase Customer,
We wanted to provide an update on proposed changes to the Bitcoin network and what that means for bitcoin stored on Coinbase. You can read more about what a digital currency fork is https://blog.coinbase.com/what-is-a-bitcoin-fork-cba07fe73ef1.
Our first priority is the safety of customer funds. In the event of a fork, customer fiat currency (USD, EUR and GBP) and digital currencies (bitcoin, ether and litecoin) are safe.
On August 1st, 2017 there is a proposal to make changes to the bitcoin software. This proposal, known as Bitcoin Cash, is likely to create a fork in the Bitcoin network. This means that after August 1st, 2017 there are likely to be two versions of the Bitcoin blockchain and two separate digital currencies.
In the event of two separate blockchains after August 1, 2017 we will only support one version. We have no plans to support the Bitcoin Cash fork. We have made this decision because it is hard to predict how long the alternative version of bitcoin will survive and if Bitcoin Cash will have future market value.
This means if there are two separate digital currencies – bitcoin (BTC) and bitcoin cash (BCC) – customers with Bitcoin stored on Coinbase will only have access to the current version of bitcoin we support (BTC). Customers will not have access to, or be able to withdraw, bitcoin cash (BCC).
Customers who wish to access both bitcoin (BTC) and bitcoin cash (BCC) need to withdraw bitcoin stored on Coinbase before 11.59 pm PT July 31, 2017. If you do not wish to access bitcoin cash (BCC) then no action is required.
We plan to temporarily suspend bitcoin buy / sells, deposits and withdrawals on August 1, 2017 as the fork is likely to cause disruption to the bitcoin network. This means your funds will be safe but you will be unable to access your bitcoin (BTC) for a short period of time.
Can someone explain to me how the fork worked. I had Bitcoin sitting in Coinbase, so I moved it to a paper wallet before the fork. I was under the impression that that would be sufficient for me to be "awarded" Bitcoin Cash at the fork. Looking at my public key address [for my paper wallet where I moved my Bitcoin] via blockchain.info, my Bitcoin is there, but there is no "display" of any Bitcoin Cash. Did I need to have moved my BTC to a "participating" exchange in order to be awarded Bitcoin Cash?