crypto currency discussion

**milwaukee mike** · 09-02-17, 12:52 AM

chucky, you're still keeping weird sleeping hours i see

i'm only up late because of that stupid navy game, and waiting for golf odds

**ChuckyTheGoat** · 09-02-17, 02:44 AM

Originally posted by milwaukee mike

chucky, you're still keeping weird sleeping hours i see

i'm only up late because of that stupid navy game, and waiting for golf odds

I always keep odd-hours. F'in Bitcoin never sleeps!

I do think my theory has some merit. Maybe some natural sell-off pts, like 5000. Just a guess.

**juicername** · 09-02-17, 03:45 AM

Anyone still mining bitcoins? Is it worth it to purchase the equipment and get into it in this day and age?

**GunShard** · 09-03-17, 02:25 PM

Here's an interesting fact about Ethereum. It's not 100% limited like Bitcoin but it's about 99% limited towards the end of mining:

Block 3000000, approx ETH supply 87962556, time '2017-01-16 00:38:33.067775' blocktime 14.86
Block 3500000, approx ETH supply 90612556, time '2017-04-11 18:09:34.273529' blocktime 15.27
Block 4000000, approx ETH supply 93262556, time '2017-08-15 18:20:24.642729' blocktime 30.01
Block 4500000, approx ETH supply 95912556, time '2018-11-03 05:55:48.912370' blocktime 136.71
Block 5000000, approx ETH supply 98562556, time '2025-10-02 11:47:30.658317' blocktime 835.81
Block 5500000, approx ETH supply 101212556, time '2128-03-20 09:14:16.483692' blocktime 17183.83
Block 6000000, approx ETH supply 103862556, time '5189-09-26 20:57:59.367004' blocktime 520901.19

**RoyBacon** · 09-03-17, 03:25 PM

Were some big spreads on exchanges today. This AM;
GDAX $4615
Finex $4467
Bitstamp $4501

They have since closed but GDAX is still $60 higher.

BTC survived several rounds of massive selling. I think it finds a near term bottom around this $4500 level and makes 1 more try for $5k this coming week.

**itchypickle** · 09-04-17, 07:02 AM

Did China just kill the crypto industry? What happened here?

**goofyre** · 09-04-17, 08:16 AM

Labor day sale for anyone waiting to get in on one of the major coins. Picked up another Eth at just over $300 earlier.

**senseionline** · 09-04-17, 08:35 AM

why put more money in eth? with banning of all future ico's there will be no grow in eth i would buy more bitcoins banning scam ico's will benefit bitcoins in a long run

**ace7550** · 09-04-17, 10:56 AM

ETH down to $290. Where will the bottom be this time?
Are ICO's officially banned in China? Wonder how long it takes for that to happen in USA.

**ace7550** · 09-04-17, 10:57 AM

Originally posted by juicername

Anyone still mining bitcoins? Is it worth it to purchase the equipment and get into it in this day and age?

It is still worth mining Bitcoins but Ether is much more profitable. Actually many other coins are more profitable.

**firekillex** · 09-04-17, 11:32 AM

NEO taking a massive hit with this news.... was at $50 dropping all the way to $20 now, making me nervous but going to hold and cross my fingers

**Demonata** · 09-04-17, 11:37 AM

All crypto falling right now

**TheSideBet** · 09-04-17, 12:38 PM

China forcing this dip to bring down the big boys enough to buy in themselves then allow or regulate things back in and profit off of it. Too many Chinese investors have $$ in crypto to end things. Major correction and I'm sure everyone's positions changed overnight but if you were already in it for longer holds, this changes nothing. I took a few new coins on sale myself.

**senseionline** · 09-04-17, 01:37 PM

the easy money ico's era mind come to an end even south korea want to ban

Attention Required! | Cloudflare

https://www.cryptocoinsnews.com/south-korea-tightens-bitcoin-regulations-will-punish-icos-report/

**milwaukee mike** · 09-04-17, 03:48 PM

Originally posted by TheSideBet

China forcing this dip to bring down the big boys enough to buy in themselves then allow or regulate things back in and profit off of it. Too many Chinese investors have $$ in crypto to end things. Major correction and I'm sure everyone's positions changed overnight but if you were already in it for longer holds, this changes nothing. I took a few new coins on sale myself.

there's a big difference between bitcoin and junk ico's... like the tech bubble, did you want to hold amazon and google or pets.com and webvan?

i think this changes a lot more than nothing

**TheSideBet** · 09-04-17, 05:28 PM

Originally posted by milwaukee mike

there's a big difference between bitcoin and junk ico's... like the tech bubble, did you want to hold amazon and google or pets.com and webvan?

i think this changes a lot more than nothing

I know what you're saying. Agree the shit coins need to be rooted out but my angle is that this is China and where are most of the miners located? Lot of leverage can be placed to do what they want. Also this is disrupting the monetary system and it was running away from the norm fast.

U.S. and others are closing in on regulation too so it's not shocking but the size of the pullback today was a bit alarming.

**RoyBacon** · 09-04-17, 06:40 PM

Why is there a $300 spread between GDAX and Bitfinex??

I shipped all I could to GDAX. Sure wish making money was this easy in real life.

**trytrytry** · 09-04-17, 09:52 PM

will go down as manic monday

**DwightShrute** · 09-04-17, 09:54 PM

Bitcoin on special right now. Get some while ya can.

**ace7550** · 09-04-17, 09:54 PM

This happens every couple months with crypto. Not really a big deal. Pick where you think the bottom will be and rebuy. In 2-4 weeks more all time highs will be broken...

**ace7550** · 09-04-17, 09:59 PM

This is just the past year...

**DwightShrute** · 09-04-17, 10:00 PM

Originally posted by ace7550

This happens every couple months with crypto. Not really a big deal. Pick where you think the bottom will be and rebuy. In 2-4 weeks more all time highs will be broken...

100% agree

**milwaukee mike** · 09-04-17, 10:58 PM

Originally posted by DwightShrute

100% agree

if you guys were pros i'd make a side bet of betpoints with you on that

i might be wrong, but i think the odds of btc NOT hitting 5k over the next 4 weeks are better than the odds of it hitting 5k

i don't think it's a coincidence that the movie "tulip fever" (about the tulip bubble) came out the same weekend that a lot of these junk crypto's crashed and burned

**ace7550** · 09-04-17, 11:24 PM

I agree about the junk cryptos. bitcoin hitting 5k within 4 weeks? I'd give it about a 50% chance. Bitcoin hitting 3k in the next 4 weeks? I'd give it about a 10% chance.

**19th Hole** · 09-05-17, 01:12 AM

China's virtual coin fundraising ban just the start of tighter regulations - Yicai

ReutersSeptember 4, 2017

BEIJING (Reuters) - China is poised to further tighten rules on virtual currencies after regulators on Monday banned virtual coin fundraising schemes, Chinese financial news outlet Yicai reported citing sources.

China banned and deemed illegal the practice of raising funds through launches of token-based digital currencies, targeting so-called initial coin offerings (ICO) in a market that has exploded since the start of the year.

Yicai's report late Monday cited a source close to decision-makers as saying the announcement on the ban was just the start of further follow-up regulations of virtual currencies.

In total, $2.32 billion (1.8 billion pounds) has been raised through ICOs globally, with $2.16 billion of that being raised since the start of 2017, according to cryptocurrency analysis website Cryptocompare.
Bitcoin rival Ethereum, which token-issuers usually ask to be paid in and which has seen dramatic growth this year, fell sharply on the news. It was down almost 20 percent on Monday at $283, according to trade publication Coindesk.

Bitcoin was also down 8 percent, while the total value of all cryptocurrencies was down around 10 percent after China's ban was announced, according to industry website Coinmarketcap.com.

.

**raiders72001** · 09-05-17, 07:21 AM

Originally posted by milwaukee mike

if you guys were pros i'd make a side bet of betpoints with you on that

i might be wrong, but i think the odds of btc NOT hitting 5k over the next 4 weeks are better than the odds of it hitting 5k

i don't think it's a coincidence that the movie "tulip fever" (about the tulip bubble) came out the same weekend that a lot of these junk crypto's crashed and burned

Alts will be back. The ICO ban scared everyone. I still like OMG and QTUM.

**milwaukee mike** · 09-05-17, 08:45 AM

Originally posted by raiders72001

Alts will be back. The ICO ban scared everyone. I still like OMG and QTUM.

what possible way is there for more than a handful of cryptos to succeed? people take v.isa/m.c./discover/amex but nobody is going to take 300 different cards, or 300 different alt currencies. the real purpose of a crypto is to generate money out of thin air (like the federal reserve) which can't be sustainable

**trytrytry** · 09-05-17, 08:56 AM

Originally posted by milwaukee mike

what possible way is there for more than a handful of cryptos to succeed? people take v.isa/m.c./discover/amex but nobody is going to take 300 different cards, or 300 different alt currencies. the real purpose of a crypto is to generate money out of thin air (like the federal reserve) which can't be sustainable

u need to read a book called the internet of money milw mike. on amazon. very very very interesting

get the electronic kindle version as the links to youtube videos are embedded.

a super good read and series of watches.

**trytrytry** · 09-05-17, 09:00 AM

Mike I iwll play yes for 333 points!

now through Oct 3rd. I say over 5000 at some point
u have under

even money

! lets do it

Originally posted by milwaukee mike

if you guys were pros i'd make a side bet of betpoints with you on that

i might be wrong, but i think the odds of btc NOT hitting 5k over the next 4 weeks are better than the odds of it hitting 5k

i don't think it's a coincidence that the movie "tulip fever" (about the tulip bubble) came out the same weekend that a lot of these junk crypto's crashed and burned

**milwaukee mike** · 09-05-17, 09:12 AM

Originally posted by trytrytry

Mike I iwll play yes for 333 points!

now through Oct 3rd. I say over 5000 at some point
u have under

even money

! lets do it

it went up 300 since my offer... so let's split the difference and say YES/NO that it hits 5150? and you pick a fair exchange

**Sam Odom** · 09-05-17, 09:13 AM

**RoyBacon** · 09-05-17, 09:17 AM

Bitfinex'ers

Good possibility they will toss all US guys out at the end of the month. They don't have banking ability so you will have to buy BTC and transfer.

Might want to go ahead and get moving now. There is a spread of $120 between Bitfinex and GDAX in your favor currently.

**milwaukee mike** · 09-05-17, 09:33 AM

where are you try3? no waiting 9 hours for it to go up to 4900 and then accepting

**Git Lo** · 09-05-17, 10:19 AM

you crypto traders should realize the more expensive btc becomes the more inherently risky it becomes whether through exchanges and/or the government, you are literally seeing this right now.

**RoyBacon** · 09-05-17, 12:45 PM

Originally posted by Git Lo

you crypto traders should realize the more expensive btc becomes the more inherently risky it becomes whether through exchanges and/or the government, you are literally seeing this right now.

True. Kind of like dealing with a low rated book. There are risks.

But the amount one can make more than justifys the risk. Yesterday there were exchange spreads over $300. You could buy at Bitstamp, transfer to GDAX and make an easy $300 per btc. You do have to sweat the hour it takes to transfer. But I made $10k of the easiest money I've ever made. Another good area is margin lending. I lent out some BTC when there was a rate spike annd got .75 per day(250% pr yr). Throw in the Bitcash spin off where we all got a new coin BCH and sold them for $500. There is too much money to make to be overly concerned with the risk.