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BITCOIN Discussion v. 8 Coins on an Old Computer

Whoo! It's a rollercoaster! Time to hold on. I am trying to buy a little more at the bottom of the dip. I'm holding all my stuff, I'm invested in projects I believe will add real value to the world and/or to the crypto world, so they'll recover, but it's pretty white-knuckled at the moment.
 
And on top of it I updated my mining software this morning and it would no longer synch with the stratum !!!

I'm back up and running but I was sweating for a while there :) I had to revert to my last saved version, which was from July 2017! sheesh what a hot mess.
 
The price was in a good spot when it was around $5k, it was enough value to spur investment but small transactions were still viable. Most of my Bitcoin transactions were for goods/services in the $5-$20 range so $19k pretty well ruined Bitcoin for me. I would like to see a service like BitPay branch out and accept payments in more types of cryptos, it's ironic to wish for a middleman but one that removes the friction that currently exists would be worth an extra little fee.
 
Raiblocks (XRB) is near-instant and fee-less. I'm hoping it gets adopted, it's around rank 18 (or was before yesterday).

I wish I had cashed out into tether when it became clear this wasn't gonna just be a little dip... I'd be buying up lots of nice cheap coins in a bit. But I didn't so I just gotta hold on... in a couple of weeks if it hasn't recovered I'll put in some new capital.
 
The entire crypto currency market has shed its market capitol, not just BTC. The total market Cap for crypto currencies was at 678,000,000,000 on Jan 8, 2018 and now sits at 447,000,000,000.
 
Yep. Bitcoin hit the mainstream media and a ton of people looking to make a quick buck got in there. Then when a serious dip started happening, they panicked and withdrew, tons of people probably took losses. The more weak hands that jump ship, the more weak hands jump ship. And serious traders have converted their holdings to USD until the bottom, at which point they'll put the money back in. Probably a lot of people won't come back, but once it stabilizes it'll grow again. Blockchain technology is here to stay, currency is only one of its applications. I'm sticking to the projects I believe in.

But yeah, Bitcoin actually has done better than almost everything else believe it or not. It's just that everything else reduces in USD value with BTC since they're all tied to the value of BTC.

I am basically even from my total investment right now, or a little under. But it'll come back. It grew way too fast anyway, it was insane.
 
Exactly Xorkoth !

I know it will return to and exceed it's previous high due to it's underlying principles. Bitcoin is no longer really a daily currency, but more of a store of value and transfer for larger transactions. I purchase some larger value items (like computer parts) and it works out just fine. Not so much for buying a cup of Joe at Starbucks. :)

One of the metrics I personally use besides a solid practical use (principle) is if a coin is mined or simply issued. If a coin is "properly mined" and the total number of eventual coins finitely limited, then the coin then the has a certain engineered resistance to inflationary movement. If a coin is simply issued then there is more of a chance for price manipulation and inflation. Many alt coins taunt being "blockchain" technology but in reality have the same flaws and problems that fiat money exhibits.

I'm curious to where you stand on that, just for the sake of conversation. ;) I wouldn't want to change you for the world, nor try to convince you of my world view in this regards. I just respect your opinion and thought this might be an area some people might be interested in exploring.
 
Xorkoth said:
Raiblocks (XRB) is near-instant and fee-less. I'm hoping it gets adopted, it's around rank 18 (or was before yesterday).
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you're such a crypto cowboy, I haven't even heard of this one yet! I'm getting kind of sick of setting up wallets for altcoins, planning to stick to just a core few, rebalancing occasionally. My pick for the "cup of joe coin" candidate is Feathercoin, a Litecoin fork. The lead developer announced recently he's returning to the project and bringing some new ideas and experience to back it up with, so it's something to watch
 
I've been researching for hours a day on projects that have value (and looking into their teams, checking their progress towards stated goals, etc). I think Lisk and Neo are both going to do very well, they're competitors to Ethereum in that they are infrastructure cryptos, where developers can build sub-coins off of them (The majority of the altcoins are built off of Ethereum currently). SONM is a fog decentralized supercomputer using blockchain, they're nearing releasing the beta product. XRB as I mentioned is a super fast, no-fee coin which I could end up replacing other technologies as a transaction processing engine. QASH is interesting, it's aiming to be an asset liquidity system eventually, where the QASH coin is the currency, and any asset (not even just cryptos but like, bonds, commodities, stocks, etc) could be instantly converted to any other, eliminating the difficulty of moving between assets and into fiat currencies. There are others too but those are the ones I'm most familiar with so far. My friend and I are trying to research some upcoming ICOs to determine if they're worth getting in on.
 
Whew what a 36 hours it's been... I went from +$1000 to -$300 to +$500 (on a $1600 total investment). I wish I had had more capital available to stick in at the bottom, but oh well. Sticking to my plans, here's to 2018 being very profitable. :)
 
Yes it was wasn't it, Xorkoth :)

I didn't calculate how much I lost since the Dec 16th high, but it will go up again!

My congratulations to all the lucky investors who managed to snag some BTC at the low of $9,900 USD ! The bottom is devilishly difficult to catch.

Here's to 2018 indeed !
 
Yep basically 2017 was all about me learning how to not be an idiot investor. 2018 is where I'm gonna actually get somewhere significant. :)

I'm bummed though, I missed the Mobius ICO. And the public sale to sell post-ICO sold out in 2 hours I hear. I think that project has some real potential and I'm trying to find a good ICO I believe in and get in at the ground floor, like my friend's friend did with XRB (and now he just cleared his first million in profit, mostly because of investing in the XRB ICO).
 
Xorkoth said:
I wish I had had more capital available to stick in at the bottom, but oh well.
Click to expand...

I wish I had capital on the exchange for that bottom. Takes way to long for me to get cash on there, which I have.. use to be-able to do an instant payment from a secondary bank but the exchanges here dropped that service due to issues with banks and frozen accounts.

I think I just feel overwhelmed at the moment, i can't even count how many hours I've spent researching coins and ICO's.. and ultimately still been no more certain then if I just picked a random one. I want to put in more money but from the $3,000 I've invested the gains although very good conventionally don't really stack up when it comes to the crypto market as a whole.. which to be fair is in it's own insane world. I'm not sure what to do.. I feel like holding what I have and tuning out for 6 months, feels like i'm in a constant state of hindsight.

I mean, you look at the market cap of crypto this time last year and it was around 15 Billion... compared to now at 570 Billion. I just can't see another year like the last, I do think at this point for massive profit it's going to come down to picking an exceptional ICO.

I've been signing up to some ICO's of interest and I've received over 250+ airdropped tokens for free (because they keep selling out to private investors which looks dodgy to me).. so at least if anything comes of that it's free money but I'm kind of sick of signing up to random exchanges just to get certains coins, then setting up new wallets and making sure i track all my passwords, verification's and keys. I'm sure somewhere down the line i'll end up shooting myself in the foot.
 
How are yall making a profit with the fees involved in btc? Whats it like a minimum of $20 each time you move your coins around?
 
You don't move BTC around, I usually convert to Litecoin to transfer. Bitcoin is kinda like a grandpa at this point. Plus, $20 is a drop in the bucket when you're talking about cryptos. Although malakaix has a good point, that another year of this sort of profit is unlikely, this year was crazy. I mean other than when bitcoin shot up crazy style, people aren't making loads of money on bitcoin. People are mostly making money on the altcoins. I mean my friend's first investment beyond BTC/ethereum was Raiblocks/XRB, he bought a lot of it at 20 cents per coin... it went up past $20 per coin in a little over a month. That's 100 times his investment. At that point, a $20 transfer fee means almost nothing. Of course, he didn't transfer with bitcoin I'm sure.

On exchanges, you trade coins for other coins for a very small exchange fee, it's usually around 0.2% of the total amount. On exchanges you're not transferring coins between wallets, it's all happening on the excahnge, so the Bitcoin fees don't apply when you're trading it, only when you're moving it out of exchanges or between private wallets.

Malakaix, I feel like there is certainly some amount of uncertainty involved when picking cryptos to invest in. But by reading as muhc as you can, you can start to get a pretty good idea of which projects are not just hype and are actually producing something of value. The infrastructure coins are good bets (like ethereum except of course ethereum has already skyrocketed - though it's almost certain to continue to grow so is a good long-term investment). Also there are areas that blockchain is moving into in technology, and identifying the top few contenders in each area is also a pretty good bet. That's basically what I'm doing.
 
It's hard to say right now. Bitcoin is in flux, it's either going to crash to the ~$8000 range, or it'll recover and climb in the next day or so (or, at least these are the likely scenarios going by principles of investment trading). All other cryptos are tied in to BTC's price. If BTC recovers without further crashing, it would be best to keep it as BTC while it goes up. But if BTC crashes further I think Ethereum would be a better bet. Long-term, Ethereum is a better bet for sure.

My advice is to just hold onto the BTC for now. Probably the safest bet in the short-term.
 
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