***All Things Cryptocurrency***

[moots]

BTC downswing after Coinbase adds $BTC. This was not the day to buy a little BTC and stash in your vault. By the time I get the door open in 48 hours, it'll be like Geraldo opening Capone's vault.

I wondered why it suddenly jumped to over 3k. Missed opportunities

 

[dj11]

My wallet took a pretty significant hit today. I think it because the fees are so high, bitcoin in general is suddenly NOT the ideal vehicle.

I am not sure how the other crypto's handle the transactions, but whatever the miners are doing this week might just kill bitcoin.

 

[nitulbhatia]

Bitcoin is down about 20% in a leading indian bitcoin exchange. Along with it most other leading crypto currencies are down.

 

[GRIN281289]

for bitcoin the future of all currency he will be in the first place and then only dollars.my personal opinion

 

[rifflemao]

My wallet took a pretty significant hit today. I think it because the fees are so high, bitcoin in general is suddenly NOT the ideal vehicle.

I am not sure how the other crypto's handle the transactions, but whatever the miners are doing this week might just kill bitcoin.

I would agree about bitcoin. I think "they" are trying to solve the transaction issue with either onchain or offchain solutions (not real sure what that means). Also, bitcoin cash, which resulted from a "hard fork" last summer, is supposed to be an improvement in transaction speed. It may be worth checking out the difference.


There was a big spike underway in bitcoin cash, I think partly because the crypto community may have gotten wind that it would be added to coinbase. Then it took off afterward while bitcoin started to tank. Glad there are lots of hodlers, but I suspect there will be another drop within 48 hours as people may move bitcoin from coinbase vaults to their wallets to transact.

 

[pcgnome]

The price of .01 TH went up to $2.20 from $1.40 on Hashflare.com. There is only a limited supply of mining left and soon they will be sold out so I can't reinvest until they purchase new hardware.I am up to 2.13 TH right now and I am only earning about $4.36 a day. (As more people get into mining it gets harder to earn a profit from each TH but as the price of bitcoin goes up the profits will return.)

What am I ranting on about anyway?

 

[dj11]

https://www.theverge.com/2017/12/20/16800940/coinbase-bitcoin-cash-fork-insider-trading-probe

 

[Aparajit]

Bitcoin is down about 20% in a leading indian bitcoin exchange. Along with it most other leading crypto currencies are down.

Very sad

 

[ReelGamblr]

Is Bitcoin a good investment?

I’ve been seeing so much news about bitcoin. And th current site I play is now accepting bitcoin. Is it really easier to withdrawal or cash out once I have bitcoin how can I turn it into dollars? I don’t want stock in bitcoin and all the sudden the price bottoms out! All my poker winnings goodbye? Can someone with exp tell me ?

 

[Iryna Stryzheuskaya]

I think this is very risky. Someone will make money, of course. But someone will lose. You decide.

 

[Blackout09]

I was thinking the same thing. Some people say its going to crash, but others say its going to blow up.

 

[rifflemao]

I don’t want stock in bitcoin and all the sudden the price bottoms out! All my poker winnings goodbye? Can someone with exp tell me ?

It's amusing that as poker players we have low risk-tolerance for other things. Me too. The swings can be brutal, but we're used to that right? Also, in the bitcoin world, a 20% downswing is mild if you consider some of the earlier ones. I would say be careful not to confuse cryptos with stocks, but don't scare yourself away from one of the best gambling opportunities you might ever have (in the altcoins, not bitcoin).


Read this:


https://medium.com/cryptocurrency-citizen/this-is-the-early-days-of-cryptocurrency-c17678cb4045


And speculate responsibly... (study the project, whitepaper, roadmap, what problems they're trying to solve etc.)

https://coinmarketcap.com/

 

[Hondo]

I first came across Bitcoin in 2009 where it was mentioned in a post at another poker forum as a good alternative for funding an account. With my bacground in finance I was very intrigued. The thing that most attracted me to the idea was there was an upper limit on how much Bitcoin would be mined. Unlike the money we use today which our government can print more of at their whim.

Bitcoin is I believe the first cryptocurrency minted to use the anology of money. There has been a lot of speculation and many have made serious fortunes buying and selling Bitcoins. Any means of exchange , be that tulips, cows, gold or dollars, requires an underlying trust in its value. Has Bitcoin reached that critical mass of trust? i am of the opinion that it has. Bitcoin is only one of many cryptocurrencies and is by far the most highly priced. Has it reached the status of a store of wealth or is it still speculative commodity?

The real value in Bitcoin is the technology underlying it . Namely blockchain technology. This technology just well be the next really huge technolgical advancement of mankind. Even bigger that the introduction of the internet.

 

[pcgnome]

They've opened up the trading again for Bitcoin cash.

 

[dj11]

How are the fees for the other crypto's?

 

[rifflemao]

They've opened up the trading again for Bitcoin cash.

Can't get into gdax.

How are the fees for the other crypto's?

I'm not actually using any of them myself yet except for transferring erc20 tokens from myethereumwallet.com to a new Ledger Nano S. When doing that, you have to have a little ethereum for "gas" which is a kind of transfer fee on ethereum networks.


But you should look into this promising one:


https://iotasupport.com/whatisiota.shtml


It almost sounds too good to be true, and is certainly ambitious.

 

[Aparajit]

I’ve been seeing so much news about bitcoin. And th current site I play is now accepting bitcoin. Is it really easier to withdrawal or cash out once I have bitcoin how can I turn it into dollars? I don’t want stock in bitcoin and all the sudden the price bottoms out! All my poker winnings goodbye? Can someone with exp tell me ?

I understand your question. You dont want to trade and you just want to convert.
Good, there is website called localbitcoins.com. Google it. Its like ebay for bitcoins. You can sell your bitcoins to buyers who list their rates and get usd bank transfers or gift cards or watever they are being offered.


or if you have any bitcoin exchange like coinbase.com account(also google it), you can send your bitcoin there & withdraw to ur bank directly ( assuming u connected ur bank wit it) and depending on the rate then, you wil directly recive usd funds or watevr.


If you have any doubts, message me. i will be happy to help good luck stay happy.

 

[imhighhommie]

All bitcoin has to do to be successful is be useful. So far seems like we're going in the right direction.

 

[sryulaw]

When I see bitcoins message I cry !!! in 2010 for 2011 I stopped paying a bank bill of purchase of R $ 2,000.00 reais (it would be 500 dollars in the epoch) would be a purchase of more than 100 bitcoins and I at the time, I did not believe and I gave up buying the bitcoins .. Just to remember the tears already want to get out of the eyes ... I think this is the chance I had to become a millionaire.

 

[Andrei Nesterenko1]

any currency is tied to the gold reserve of the country that issued this currency, bitcoin is not tied to anything, it is not provided with anything, so that it will collapse 100%

 

[smallfrie]

As an investment, who knows short term... Long term someone is going to have to end up "holding the bag" eventually.

 

[Dim4ik555]

I think the contribution to bitcoin is a risky business. I thought about it myself, I was thinking about buying and reselling on stock exchanges (websites), but I did not dare. There is information on the Internet that bitcoin will go down in 2018.

 

[rifflemao]

I think the contribution to bitcoin is a risky business. I thought about it myself, I was thinking about buying and reselling on stock exchanges (websites), but I did not dare. There is information on the Internet that bitcoin will go down in 2018.

2018 will be the year of the altcoin, and that's what I'm experiencing so far, with Cardano ADA being my best performer. Heck, 2017 was also the year of the altcoin if you look back at how ethereum, litecoin, neo etc increased relative to bitcoin.


I'm willing to bet that many poker players who go to the wsop next summer will have earned their buyins with gains from cryptos. Word gets around.


Regarding bitcoin as an investment, thousands of people are looking into checkbook self-directed iras whose passive custodians allow holdings in cryptocurrency. The SEC in America is already watching for potential fraud schemes, and the IRS can't wait for someone to break a rule in their SDIRA, triggering a disbursement, taxes and penalties. It's a feeding frenzy, and people are looking at ways they can protect their crypto gains from taxes.


But for people who just want to put a few chips down, this environment (at the moment) is perfect. It won't last forever, and then it will get ugly.

 

[ekgbeat]

I'm glad to see the crypto thread growing. Keep in mind that you should diversify your bags (the coins that you invest in). A good money management rule of thumb is to never invest more than 15% to 20% of your total amount into any one coin.

Happy trading, holding, or experimenting.

 

[dj11]

Bitcoin is diving this afternoon.