Cryptocurrency mega-thread

ash_1050

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How can you anticipate potential growth from a decline? How would you research it? Where to look?
Why did NEO go up 35% today?
How do you go about learning to identify when something like that will happen again?

How can you anticipate potential growth from a decline? How would you research it? Where to look?
Short answer you can't. Longer answer look at upcoming releases or news around a coin and buy the rumour sell the news as with stock training.

Why did NEO go up 35% today?
No idea. Pick a coin or two and dedicate yourself to following it rather than trying to do technical analysis or spread yourself too thin. I'm all in on Ripple but I'm also across so much as a sneeze with it so I know what's happening at all times.

How do you go about learning to identify when something like that will happen again?
As with stocks there's two schools of thought, technical analysis and fundamental analysis. Find out which one you prefer. For me I'm fundamental analysis as TA seems more like reading tea leaves than actually looking at determining factors.
 

the PILL

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Sorry, but the whole appeal of coinspot is its very simple user interface. This is attractive to people who are intimidated by the somewhat confusing nature of the major international exchanges such as kraken/bittrex/poloniex/binance etc. I used coinspot when I was a noob to cryptocurrency for that very reason. However I soon realized that coinspot is not a real exchange as it lacks the functionality of one. While it does offer a simplified format for aussies to buy a large variety of cryptocurrencies with AUD, the catch 22 is their exploitative fees and practices. I don't know why anyone would use coinspot once they know how to use proper exchanges with full functionality that allow you to get coins at the prices you want (within reason).

Coinbase sucks because of the restrictions for aussies ($300 AUD per day limit, and they don't allow selling).

CoinTree is another aussie marketplace with an attractive design, reasonable fees, a large selection of altcoins on offer, and a simple user interface similar to that of coinspot. But they don't allow you to buy altcoins with AUD - you have to use BTC to buy altcoins. One unique feature of CoinTree is the ability to automatically purchase bitcoin on a scheduled basis.

Binance is currently the best international crypto exchange out there IMO...I find it a little more intuitive and user friendly than poloniex or bittrex. The only downside to binance is the somewhat limited selection of coins available there...they don't even offer LSK which is looming as one of the most promising coins in the crypto space.

Anyway, I'm really looking forward to zero-fee exchanges, such as the one developed by Cobinhood, which launches in december.

You're kinda throwing up old infomation which is probably understandable if you were involved with their old syntax but Russle has listened and adjusted a few things ...

You can send coins to private wallets and other exchanges...

You can cash out up to 5ģ which is what I'm allowed to do this very second if i want too on any coin i own... Its just ill be charged a premium...

You can send Coins to external wallets to do with what you please... (some coins have direct conditions )

CS is good because you damn well know you're getting what you want if you have to pay a bit for exactly what you want...

Don't get me wrong I'm having a ball with my Bitrex and Coinbase stuff but to dismiss CS as a dumb move off what they offer via instant protocol and convenience is short sighted...

Its about Bow strings with Crypto...
 

woota

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Anyway to increase the weekly limit transaction on Coinbase higher than $500?
Edit: Just realised that you can’t link a bank account for Australian users.

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Coinbase is pointless for australian users. Way too restrictive and you can't even cash out. I recommend BTCmarkets. It's an australian exchange that lets you deposit AUD to buy bitcoin, eth, litecoin and ripple. It's a little confusing to use at first, but once you've figured out how to navigate your way around then it's all good. Be aware that depositing funds via Poli payment incurs a $3.30 fee. If you want altcoins then buy BTC or ETH from BTCmarkets and send it to binance or bittrex. Then exchange it for the altcoins you want.

I've covered the problems with coinspot.

Independent Reserve have the highest transaction fees I have ever come across, and they only offer bitcoin and eth. I would stay away from them.

Unfortunately, all australian exchanges/markets have upsides and downsides. But I like BTCmarkets overall - if they offered a bigger selection of coins, then I wouldn't need to go anywhere else.
 
Coinbase is pointless for australian users. Way too restrictive and you can't even cash out. I recommend BTCmarkets. It's an australian exchange that lets you deposit AUD to buy bitcoin, eth, litecoin and ripple. It's a little confusing to use at first, but once you've figured out how to navigate your way around then it's all good. Be aware that depositing funds via Poli payment incurs a $3.30 fee. If you want altcoins then buy BTC or ETH from BTCmarkets and send it to binance or bittrex. Then exchange it for the altcoins you want.

I've covered the problems with coinspot.

Independent Reserve have the highest transaction fees I have ever come across, and they only offer bitcoin and eth. I would stay away from them.

Unfortunately, all australian exchanges/markets have upsides and downsides. But I like BTCmarkets overall - if they offered a bigger selection of coins, then I wouldn't need to go anywhere else.

Thanks for the advice. Will check out BTCmarkets now.


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ash_1050

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Worrying news regarding Bitfinex and the seemingly endless generation of fictional currency USDT.

Article 1
Article 2

Calling it now either the fabrication that USDT implodes in spectacular fashion within 6 months or the US feds move within 12 months to crack down on unregulated or illegal operations in crypto ala black friday for internet poker.

If either of these two do happen (or rather when one of them happens) expect a huge, huge implosion in the market.

Invest cautiously, take your profits when you can and be prepared for some serious blood on the streets in the next 12 months. Sell the rumour, buy the news.

For documentation:
BTC $8041
BCH $1174
ETH $354
XRP $0.231
 
Last edited:
Worrying news regarding Bitfinex and the seemingly endless generation of fictional currency USDT.

Article 1
Article 2

Calling it now either the fabrication that USDT implodes in spectacular fashion within 6 months or the US feds move within 12 months to crack down on unregulated or illegal operations in crypto ala black friday for internet poker.

If either of these two do happen (or rather when one of them happens) expect a huge, huge implosion in the market.

Invest cautiously, take your profits when you can and be prepared for some serious blood on the streets in the next 12 months. Sell the rumour, buy the news.

For documentation:
BTC $8041
BCH $1174
ETH $354
XRP $0.231

Been thinking of getting on some ripple at the 23c
They have a good idea imo

Some of these game coins too
VR is booming and is the future of games and even watching sport

Imagine the day when u are ringside at ufc or the best corp box in F1by wearing a VR headset over the net
 

woota

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Jun 27, 2015
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Worrying news regarding Bitfinex and the seemingly endless generation of fictional currency USDT.

Article 1
Article 2

Calling it now either the fabrication that USDT implodes in spectacular fashion within 6 months or the US feds move within 12 months to crack down on unregulated or illegal operations in crypto ala black friday for internet poker.

If either of these two do happen (or rather when one of them happens) expect a huge, huge implosion in the market.

Invest cautiously, take your profits when you can and be prepared for some serious blood on the streets in the next 12 months. Sell the rumour, buy the news.

For documentation:
BTC $8041
BCH $1174
ETH $354
XRP $0.231

Even if that happens, it wont be the end of cryptocurrency. Prices will recover eventually. Bitcoin has already crashed and recovered 4 times in its short history. One of them was in 2014 when Mt. Gox got hacked and filed for bankruptcy. They were the largest bitcoin exchange in the world at the time, supposedly handling 70% of the world's bitcoin transactions. The price of bitcoin plummeted, but eventually recovered from the calamity and went on to new all time highs.
 

the PILL

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started using bitconnect a few weeks ago....just dabbling, no major investment. Wanna be part of my team :D

I'm kinda curious about that but unsure if sustainable tbh...

Vitalik Buterin potted it as Ponzi but who knows with the spectrum changing so much...

Tempted myself :)

One thing that does strike me odd about it is the Facebook page peeps... Lot of self convincing and sheep mentality going on there...
 
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I'm kinda curious about that but unsure if sustainable tbh...

Vitalik Buterin potted it as Ponzi but who knows with the spectrum changing so much...

Tempted myself :)

One thing that does strike me odd about it is the Facebook page peeps... Lot of self convincing and sheep mentality going on there...
I’ve just gone in with a small modest amount...fully understanding the risk of course. Wifey and I decided to put in what we would spend on a night out.
So far I think it’s worthwhile as I see it building nicely.
Again, aware that this is not going to last forever but willing to take the chance.

I do my best to stay away from Facebook for things like this. I look for smarter commentary through YouTube channels etc.
 
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Apart from bittrex are there any good exchanges for alt coins for us common folk here in AUS?


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I believe coinspot is ok, I’m in the process of signing up so can’t comment from experience. But I haven’t heard anything negative about them yet.
 
I believe coinspot is ok, I’m in the process of signing up so can’t comment from experience. But I haven’t heard anything negative about them yet.

Yeah all I’ve heard is high fees


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woota

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Apart from bittrex are there any good exchanges for alt coins for us common folk here in AUS?


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binance, poloniex


I believe coinspot is ok, I’m in the process of signing up so can’t comment from experience. But I haven’t heard anything negative about them yet.

Yeah all I’ve heard is high fees


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You still don't get it. Coinspot is not a proper exchange or trading platform. It's a simplified marketplace for simpletons. If you want to simply buy cryptocurrency and pay extortionate fees, then go ahead and use coinspot. If you want to buy cryptos at reasonable fees and learn how to trade, set your own buy and sell price ranges to maximize profit, learn how to use a proper exchange like bittrex.

And BTW, there is a tonne of negative info out there on coinspot.
 
Jul 12, 2013
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binance, poloniex






You still don't get it. Coinspot is not a proper exchange or trading platform. It's a simplified marketplace for simpletons. If you want to simply buy cryptocurrency and pay extortionate fees, then go ahead and use coinspot. If you want to buy cryptos at reasonable fees and learn how to trade, set your own buy and sell price ranges to maximize profit, learn how to use a proper exchange like bittrex.

And BTW, there is a tonne of negative info out there on coinspot.

Get what?
I do use bittrex...just signing up with coinspot as its the only way i can access a particular currency.
 
Jul 12, 2013
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Lol maybe. I'm thinking about making an investment in there. That and Iota are the ones I'm looking at atm.
Iota is an interesting one...a lot of people talk it up. I have kinda kept an eye on it...hasn't done much since i have been watching. Seems there's a bit of volume moving at present so could be a good time to make a move.
 
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