Some of the cryptos bring utility to areas that didn’t exist before. Other cryptos are only being bought because other people are buying and people want to make money off of the greater fool.

Ahhhh...fair enough

@Tanner - SC yes of course but in the mean time many alt coins will bubble up before fizzling out and there's no point in not making some money on it if you can. Of course I wouldn't park my money *long term* in something that didn't have good fundamentals. Basically, some cryptos are the kind you can introduce to your mother, and other cryptos are just there for a pump and dump.

What do you guys think about mining altcoin, is there money to be made there?

Coinbase the best for crypto purchase? Still deciding on bitcoin or ripple.

is exodus a good wallet

Transfer fees with exodus are very annoying

but it's a pretty nice wallet - from a noob (me)

@Deleted User you can buy with coinbase then transfer to other coins with something like shapeshift

https://shapeshift.io/#/coins

Thanks. Here is something I don't get. Bitcoin was all about be completely anonymous, yet you provide everything to the crypto "traders" to buy. Find that not too full proof.

@Deleted User Yeah, it's bizarre. But if you want to support anonymous/private crypto-currency, you can exchange your bitcoin for those other coins.

Or just transfer your bitcoin to a different wallet and nobody knows that wallet belongs to you

Okay thannks @this_that5553 . Ok thanks! Still a bit over my head still, but will figure out. The whole transfer of wallets etc and detailed info needed. So much for real anonymity.

Only the exchanges require all the info upfront

to go from USD to BTC or whatever

I have sold out of ripple in favor of bch

BCH just seems very pedestrian. Simple, easy, quick. All good things

@Deleted User you have to provide ID info to exchanges because you’re interacting with the USD banking system.

@Deleted User you are thinking about it the wrong way around. bitcoin is anonymous. mining, trading, selling, buying, all can be done in privacy. the exchanges is where you get less anonymous because of problems with scaming. exchanges are not bitcoin or crypto. they give a platform for it to occur. there are exchanges where you can be completely anon. if you really wanted to be completely anonymous you would never buy in the first place, just mine, and only sell/hold for profit.

there are even places where you can go walk up to an atm and buy bitcoins or other coins.

with cash

You can trade on BTCe or other exchanges without ID if you're just doing crypto-to-crypto.

My point is that proving ID is not because "crypto is supposed to be anon but it's not", providing ID is because of USD banking regulations.

interesting content #1

bearish content

just generally triggered content : *cryptocurrency (people using the term 'crypto' to mean that always confuse me, it's always meant "cryptography" or "cryptology") ... ) ✡ 😨

what it does have in common of course is trust

(*oh sorry,and sorry for spamming, in 'oy-vey.png' the lower right is gold)

i'm hugely bearish on BTC & coinalikes because of my general contrarian nature and that I think it is far, far, far too hyped and institutional shekels are meeting geek boners and the world-destroying force of techno-optimism, I think that there still maybe fun to had, but at the end of the day, the shekels aren't going to the ruggedly handsome libertarian with a musket, so to speak. as far as non-BTC coins, of course, there's too damn many of them ... basically, it's the dot com bubble, only instead of making computers spit out rainbows and unicorns and selling it to investors they're skipping the whole part about purporting to need rainbows and unicorns

@Deleted User used to be that you could just send some Russians cash in a vacuum sealed envelope.

but now mainstream bitshekels try to straddle a liminal between obviously illegal and legitimate investment, neither of which was exactly what the originators had in mind (but that's typical, look ath the Internet)

one expects such services still exist, but obviously aren't advertised and equally obviously are liable to be scams / this of course is all the fault of Silk Road, like most things (ask me my Ross Ulbricht story sometime)

@Pavel Cristović are you going to short BTC?

So new to this, but basically use coinbase, then get their mobile app and I can use at a bitcoin atm via the qr code from the app?

Thanks btw for the previous info all. Still really new to me.

Excellent debate about BTC vs BCH:
https://youtu.be/4NAK-NCjdoM

>Get $100 worth of BTC
>"Warning: Amount too low to cover costs of BTC fees"

Holy crap BTC sucks

@Tanner - SC The debate is _not_ between BTC and BCH but rather between BCH and all the other forks that happened around the same time

The other forks are going nowhere, BCH and BTC are the dominant players and worthy of debating. You might already be convinced that BTC is dead, but many others are not and need to see this debate.

I'm not convinced BTC is dead because it has name recognition and the software can be updated. It almost was a few months ago

Blockchain is 9 years old this month! Here was the first block mined:
https://blockchair.com/bitcoin-cash/block/1

Do you think the BCH/BTC transfer rate will get better than 5.73

I think yes.

oh already up to 5.79

I have 10k bet bch will reach parity

Just to be sure, I want the highlighted number to go up right?

@this_that5553 in the past 24 hours BTC went up and BCH went down, does that help?

@ThisIsChris I'm trying to understand how that rate number works in my favor. If the rate of "BCH/BTC" goes up, do I get more BCH when I shift it?

i just bought in, might not hold but expecting another spike at lesat

Oh yeah, if BTC goes up and BCH goes down, I should shift to BCH and get more

chart looks pretty good atm

did anyone get in on ZCL last week?

it still may have some legs and is going to award a coin called btc private to holders supposedly on 1/8. Potential dump at that time though, I'd be careful.

I have a very small position, most of the gains were already had but could see some more. Will prob sell just prior to fork after what happened with XVG. NEO looking good, XRP will probably keep pumping too.

@this_that5553 "BCH/BTC" is "how much BTC do I have to spend to get 1 BCH?" If you have BTC you want that number to go down, I'd you have BCH you want that number to go up.

oh fug

yep

btw its been going down :[

stablizing though

@ThisIsChris If you have BTC I wouldn't be terribly concerned if it went down. While there is some inverse correlation, I haven't noticed it to be terribly strict. BTC is becoming a medium of exchange for not only BCH but the vast number of altcoins available on the market. If you have only explored coinbase and GDAX you may want to check out Bittrex or Binance to familiarize with altcoins, if you haven't already. At this stage in the game, that's where the biggest profits are. :]

Wait “BCH/BTC” should mean “how many BCH per one BTC”

So if that number is high like 8, that means that if you buy BCH with BTC then you’ll get 8 times what you have with BTC.

So I do want that number to be high.

@this_that5553 BCH/BTC is about .158 now, so you need .158 BTC to buy 1 BCH, or equivalently 1 BTC will get you 1/.158 which is 6 and change BCH.

If you have BTC right now then you want BCH/BTC to be low.

Show me the number you’re looking at. Your rate number is reversed

“BTC/BCH” should be .158 while “BCH/BTC” is 6.03

If BCH per one BTC were low, then I’d get only a few more BCH with one BTC. But seeing that it is 6, I should get 6 times the coins

@this_that5553 https://www.coinexchange.io/market/BCH/BTC

@this_that5553 https://www.tradingview.com/symbols/BCHBTC/

@this_that5553 https://www.coingecko.com/en/price_charts/bitcoin-cash/btc

Yeah we’re saying the same thing. You want the price of BCH per one BTC to be low. But you want the number of BCH per BTC to be high

We’re just looking at different metrics

Yeah looks like it

Looks like prices are leveling out now though. I might want to buy

@this_that5553 could be! Do you have any thought why BCH will go up soon?

Not sure. Other than people being able to actually use BCH for practical things

I think BCH will get its own address format soon though

It's own address format? What does that mean/do?

Right now it’s impossible to tell if someone sent you a BTC address or a BCH address. So communication has to be very clear and explicit

The bitcoin.com wallet account for this by having rollover functionality

Interesting points!

I was reading about iota yesterday. Looks awesome. Sad thing is that it’s so difficult to buy into some smaller coins

@this_that5553 yeah. Are you looking to buy more altcoins? Do you have a rough plan for how you approach what to buy and sell?

@ThisIsChris I am interested in buying coins with good uses that solve issues. It’s basically like stocks. You buy the stocks if it’s a good company with a use.
Something like XRP will spike but I don’t think they’ll take off. So with stuff like that, you are riding the speculation wave but practically they’re trash

That's great, thanks! I was curious where you were coming from. Looks like you are looking for long term investments?

Ripple has had a chance to get in bed with fintech and it hasn’t worked. They offer nothing to financial that they don’t already have. Except the ability to lose all holdings because of silly human error.

More than one year in the same spot?

Yes exactly. I don’t want to have to constantly monitor. In my mind, it takes too much to buy in and the chance of losing annoys me

BTC fees are %15 for crying out loud

Wow that's a lot.

Now you see why people are switching to alt coins haha

Cool well it looks like some solid thesis, good luck.

@here just a generic and friendly reminder to not risk money you can't lose. Also that no one here has a crystal ball and unforseen risks can arise.

And you don’t have an obligation to invest just because the alt right spergs about it

I'll second that, @ThisIsChris and I want to stress to the younger folks. While I don't have the professional experience that some of our finance guys have, I do have a master's degree where we covered finance, accounting, and economics. That does not mean this is an argument from authority. Second, I'm an oldfag. I've been through two crashes, I've been investing since prior to the dot com boom (and bust). I'm on track for my retirement. Even if there's another crash, it is more than likely that I will be able to stop working when I decide I want to. What's the point of this? I'm telling you YOU CANNOT PREDICT THE FUTURE. YOU. CAN. NOT. DO NOT FOOL YOURSELF. ANY CHARTS OR ANALYSIS YOU CREATE, USE, ETC. INTRINSICALLY ONLY LOOKS AT THE PAST. YOU DO NOT KNOW WHAT WILL HAPPEN TOMORROW.

Always remember that. Always.

You may make better guesses and predictions than some other people do. But you cannot know the future with certainty. Do not fool yourselves.

My 10k crypto currency fund is all from crypto gains. I cashed out my initial investment already.

@Perihelion - CA same here!

Excellent!