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Crypto-Currencies and Bitcoin

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KCOTT said:
anyone have thoughts on some of the other coins? like ripple, dash, waves, etc.
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These are pretty worthless

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KCOTT said:
anyone have thoughts on some of the other coins? like ripple, dash, waves, etc.
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I have Ripple. Its so cheap...why not? The technology is basically using the blockchain to transfer incredibly large sums of money instantaneously across the world. Great for commercial banking. A few have signed on and actively using it. It will never be the horse that Bitcoin is, but it could hit $10 some day and it wouldnt be a surprise.

I know nothing about Dash or Monero. I was in Iota for a minute and sold at $5+ after their microsoft announcement.

SanduskyCav said:
Litecoin seems to be leveling off....going to fall?
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Fell to $250 on Gdax. I actually sold at $330 and bought back in at $260 to strengthen my position. I think $300 is where it hovers for the time being.

All alt coins are crazy, but there is definetly value to the tech. Without a solid plan, many of the other alt coins come off as scams.

IWantAKouki said:
So my boss is out so my group spent the hour before lunch talking about bitcoin

Eventually we all downloaded Coincase and bought in, just for fun ($50). Mine was giving me problems. Eventually I got the order through but since I linked it to my bank account, it's going to take 8 days to process. My purchase price was $19,500. :chuckle:
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Bought at an all-time high...classic lol.
 
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SanduskyCav said:
Where can I buy Ripple...been looking since yesterday afternoon. @bigfoot5415

None of the options seem very easy
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They aren't. Sign up for a bittrex account & buy on there. Make sure your account is verified & then send it to a wallet and sit on it for years. Ive heard that it may be on Gdax/Coinbase at some point.
 
SanduskyCav said:
Where can I buy Ripple...been looking since yesterday afternoon. @bigfoot5415

None of the options seem very easy
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Did this a few days ago just to see how it works. A few things you'll need to start

- Verified coinbase account where you can buy with USD
- Gatehub.net account to store your Ripple in a wallet


- I bought Litecoin/Ether/Bitcoin on Coinbase, which is the easiest way to buy in.
- I then used Shapeshift.io to exchange Litecoin into Ripple
- I then sent that Ripple to my Gatehub wallet.

Shapeshift does take a mining fee for the transaction, but I can't seem to find a way around in my quick research. You need to have your wallet ID's ready to go, but I'd reference the youtube videoas he walks you through it.



I know that's a brief recap, but that Youtube video does a pretty good job explaining it. Hope that helps!
 
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BCH whooping on BTC right now.
 
SanduskyCav said:
Where can I buy Ripple...been looking since yesterday afternoon. @bigfoot5415

None of the options seem very easy
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I would say Bittrex but they are not allowing new users right now so Binance is where you need to go.

Note: you need to have Bitcoin or Etherium already yo buy Ripple.
 
Lol a fucking iced tea company renamed their company to “Long Blockchain” and the stock went up 300% in a day

@natedagg
 
Triplethreat said:
Should have bought in at 11k I mean shit.

I would surely be dipping on it now though.

I'm pretty confident it will drop like a rock later in the month when the futures are available because people will be shorting like crazy.

The only thing that's holding it up and pushing it higher is volume.
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Man anyone shorting any of the cryptos is playing a dangerous game

Trying to time the popping of the bubble can easily send you to the poor house. I just checked and initial margins for Bitcoin futures started at 45%. It’s not hard to imagine a situation with something as volatile as bitcoin where a short gets margin called within a week. In fact, looking at the historical price that would actually be the norm.

At some point Bitcoin will cool down, but I wouldn’t even consider taking a short position. It’s like standing on a geyser to collect diamonds. Yeah, there sure are diamonds there, but this fucking geyser is going off every 15 seconds and there’s a really high chance of getting burned

Fasciniating market. I’ve thought about throwing $300 at Ripple as a total “I don’t care if I lose this entire amount, it’s worth the risk” type gamble, but I’m not placing any serious money in this market either way. It’s way too volatile with way too much speculative emotional trading of people not wanting to miss out.
 
The Wizard of Moz said:
Man anyone shorting any of the cryptos is playing a dangerous game

Trying to time the popping of the bubble can easily send you to the poor house. I just checked and initial margins for Bitcoin futures started at 45%. It’s not hard to imagine a situation with something as volatile as bitcoin where a short gets margin called within a week. In fact, looking at the historical price that would actually be the norm.

At some point Bitcoin will cool down, but I wouldn’t even consider taking a short position. It’s like standing on a geyser to collect diamonds. Yeah, there sure are diamonds there, but this fucking geyser is going off every 15 seconds and there’s a really high chance of getting burned

Fasciniating market. I’ve thought about throwing $300 at Ripple as a total “I don’t care if I lose this entire amount, it’s worth the risk” type gamble, but I’m not placing any serious money in this market either way. It’s way too volatile with way too much speculative emotional trading of people not wanting to miss out.
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Well, the people who shorted are making a fuck ton today. Shit is crashing hard.

I wonder if there's market manipulation with people who own a substantial amount of Bitcoin. Like they short hard, and the sell the coins they do own to initiate a run on the exchanges.

Basically profiting twice. Once on the high sell, and then again why they buy low to satisfy the shorted position.
 
caf said:
Well, the people who shorted are making a fuck ton today. Shit is crashing hard.
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The people that shorted at the top yes, but how many people do you think really timed the top? There are also probably a lot of people who shorted it at 2000, and 3000, and 4000... all points of time it was called overvalued and a bubble (and you COULD short the Bitcoin investment trust GBTC and I’m sure a lot of people lost more than their initial investment doing it)

That said, it could just as easily be up 50% next week.

Someone will win the trade, but there are extreme risks with shorting it. I’ve been margin called before. The security I got margin called on went down 95%. I called that it would crash, but it also went up 50% after my initial short (margin requirement was 500% of the short value) and I got burned. It fucking sucked. Especially being right and having to close out 30% of my position because of a margin call.

It’s not as easy as just identifying a bubble. There are big risks associated with taking a short position in an extremely volatile security.

I doubt we have seen the last of Bitcoin. Anyone who shorted at 15K+ now has a great unrealized (hopefully realized by now) gain, but make no mistake many people have been burned by being short bitcoin before this one short instance in time when it would have been profitable
 
The Wizard of Moz said:
The people that shorted at the top yes, but how many people do you think really timed the top? There are also probably a lot of people who shorted it at 2000, and 3000, and 4000... all points of time it was called overvalued and a bubble (and you COULD short the Bitcoin investment trust GBTC and I’m sure a lot of people lost more than their initial investment doing it)

That said, it could just as easily be up 50% next week.

Someone will win the trade, but there are extreme risks with shorting it. I’ve been margin called before. The security I got margin called on went down 95%. I called that it would crash, but it also went up 50% after my initial short (margin requirement was 500% of the short value) and I got burned. It fucking sucked. Especially being right and having to close out 30% of my position because of a margin call.

It’s not as easy as just identifying a bubble. There are big risks associated with taking a short position in an extremely volatile security.

I doubt we have seen the last of Bitcoin. Anyone who shorted at 15K+ now has a great unrealized (hopefully realized by now) gain, but make no mistake many people have been burned by being short bitcoin before this one short instance in time when it would have been profitable
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Didn't BTC shorting only start like a week or two ago? I don't think it was possible to short BTC at 2k
 
caf said:
Didn't BTC shorting only start like a week or two ago? I don't think it was possible to short BTC at 2k
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Sorry I edited after my post. GBTC. It’s a Bitcoin Investment Trust
 
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