crypto currency discussion

[trytrytry]

transfer to GDAX and make an easy $300 per btc.

so after you did that you cashed them out to your bank to lock in this easy 300 per coin?

can you go GDAX to your bank account?

[raiders72001]

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

I would agree that long term many of the alts will disappear but right now alts are great for traders. Here are the price changes for the last hour and 24 hours of the top cryptos.

[trytrytry]

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

im in mike. 5150 figure we know each other dont need to post up do we?

[milwaukee mike]

im in mike. 5150 figure we know each other dont need to post up do we?

like i said he waits 9 hours

yeah that's fine even though it's 4465... odds seriously in your favor, let's use bitstamp

pm me after i lose to remind me to send the 333

[raiders72001]

It seems as though the Chinese ICO ban is temporary and will resume after regulations are put in place.

[TheSideBet]

It seems as though the Chinese ICO ban is temporary and will resume after regulations are put in place.

More China news wreaking havoc on the markets this morning with threats to shut down local exchanges?

[trytrytry]

like i said he waits 9 hours

yeah that's fine even though it's 4465... odds seriously in your favor, let's use bitstamp

pm me after i lose to remind me to send the 333

thanks for the mush, well played

[raiders72001]

More China news wreaking havoc on the markets this morning with threats to shut down local exchanges?

crazy stuff.

[milwaukee mike]

almost had a heart attack when i saw my balance at kraken, showing btc at 3500

it had changed to euros for some reason

[juvunits]

Does bitcoin fluctuate all day or is unlike the markets where it closes?

[TheSideBet]

Does bitcoin fluctuate all day or is unlike the markets where it closes?

It's basically forex. Open for business 24/7 but has peak times depending on country trading.

[juvunits]

It's basically forex. Open for business 24/7 but has peak times depending on country trading.

When are the peak times? Should I be buying during these peak times?

[techpeter]

if you are buying to deposit into a sportsbook best to buy when you have a upwards trend as the time it takes to buy bitcion to your wallet then to deposit it your bookmaker if on a downward trend you can lose a lot of bucks as the value of BTC to USD falls .
best to look at some charts i use e-toro.com but lots of of free chats to veiw . have a check bitcoinnews to see if anything might make the market move before you buy
best tip do not rush if the market does not look good wait untill next day

[TheSideBet]

When are the peak times? Should I be buying during these peak times?

Honestly depends on which crypto you are actively trading. Coins are huge in Asia so look at their awake and busy trading time. Massive volume out of Japan and Korea even with the latest round of China news.

[raiders72001]

Honestly depends on which crypto you are actively trading. Coins are huge in Asia so look at their awake and busy trading time. Massive volume out of Japan and Korea even with the latest round of China news.

This is true. It depends upon the coin. As an example QTUM is heavily traded by the Koreans and they control the price.

[MeanPeopleSuck]

A terrifying rumor for all crypto owners/traders/dabblers: https://www.coindesk.com/report-cast...oin-exchanges/

[raiders72001]

A terrifying rumor for all crypto owners/traders/dabblers: https://www.coindesk.com/report-cast...oin-exchanges/

I'm hoping that this rumor is fake news.

[MeanPeopleSuck]

I'm hoping that this rumor is fake news.

Me too, but even non crypto news sources are now reporting the rumor:

WSJ: https://www.wsj.com/articles/china-t...ces-1505100862

Barron's: http://www.barrons.com/articles/chin...ges-1505110972

CNBC: https://www.cnbc.com/2017/09/11/bitc...exchanges.html

So it this does happen, how big a hit are we talking?

[allabout the $$$]

everything dropping like a bad habit

[JAKEPEAVY21]

what a bloodbath

[USCPHILLYGUY]

3541

[milwaukee mike]

almost had a heart attack when i saw my balance at kraken, showing btc at 3500

it had changed to euros for some reason

and now 6 days later it's 3500 in usd

[triplecrown333]

3k by the weekend is not out of reach...time to load up on ripple and neo

[MeanPeopleSuck]

Today's crash is 100% being caused by news out of China: the largest, most profitable crypto exchange is being forced to close, which has everyone wondering if ANY Chinese exchanges will be allowed to operate beyond the end of the month. https://www.coindesk.com/btcc-to-cea...ould-continue/

It's too early to know how far this crackdown's going to reach, but the worst case scenario that everybody, including me, dismissed that China might make some gigantic move to basically wipe out crypto trading entirely is, at a minimum, back on the possibilities board.

[JAKEPEAVY21]

Today's crash is 100% being caused by news out of China: the largest, most profitable crypto exchange is being forced to close, which has everyone wondering if ANY Chinese exchanges will be allowed to operate beyond the end of the month. https://www.coindesk.com/btcc-to-cea...ould-continue/

It's too early to know how far this crackdown's going to reach, but the worst case scenario that everybody, including me, dismissed that China might make some gigantic move to basically wipe out crypto trading entirely is, at a minimum, back on the possibilities board.

I was hoping we were close to reaching the floor of this downswing but I guess not?

[milwaukee mike]

3k by the weekend is not out of reach...time to load up on ripple and neo

i do like the ripple

[TheSideBet]

Hope everyone used stop loss or just exited all positions and regrouped.

Things will get better soon. just remember, first they ignore you then they mock you and lastly they attack you. Happens to all disrupters so play the long game if you will. Screw all of the get rich quick stuff.

[Sam Odom]

i do like the ripple

[jjgold]

The coins are struggling again because of China

[MeanPeopleSuck]

I was hoping we were close to reaching the floor of this downswing but I guess not?

I think we're getting there. Today seems to be the day that those living in "Fake News" denial of the events in China appear to be coming to their senses. That means the market's getting closer to properly pricing BTC for a post Chinese exchanges world.

This is only a guess, and I could easily be wrong, but I'd be surprised if the bottom ends up breaking $3k, or even the $3200ish numbers the Technical Analysis guys are so in love with.

FWIW, I'm buying today. In keeping with the dollar cost averaging prices I outlined last night, I've had 5 different buy orders trigger this morning between $3701 and $3501, and one of the reasons I'm hopeful the recovery will be robust is that lost in all this China news is the fact that SegWit has succeeded beyond anyone's expectations at reducing BTC's fees and wait times.

Hang in there, Jake. Don't sell into the crash. These things always feel like they're the end of the world, but they never are. Crashes suck, but they pass. Power, brother.

[Optional]

I'm not a crypto investor and if not for friends having money in it I would love for it to drop back to under $100, so that it is a more useful money transfer mechanism.

But I think if I had some spare cash right now I would be seriously looking at buying. There is about 30% upside just to the recent high and too many people with big money in this now. The market will factor in whatever China means once it becomes clear and the same upward trend should then resume. And I mean within hours/days.

And that is probably my first price prediction re bitcoin ever on here.

[milwaukee mike]

I'm not a crypto investor and if not for friends having money in it I would love for it to drop back to under $100, so that it is a more useful money transfer mechanism.

But I think if I had some spare cash right now I would be seriously looking at buying. There is about 30% upside just to the recent high and too many people with big money in this now. The market will factor in whatever China means once it becomes clear and the same upward trend should then resume. And I mean within hours/days.

And that is probably my first price prediction re bitcoin ever on here.

i take the opposite approach, the fact that bigger money is in bitcoin means the swings could be even greater... big money uses electronic trading and autosells stuff on the way down

nobody really knows whether bitcoin is worth 0 or 100,000... so to think 3500 is a bargain based on the 5000 high but ignoring that it was 400 a year ago is pretty silly. might be a bargain, might not be

[JAKEPEAVY21]

I think we're getting there. Today seems to be the day that those living in "Fake News" denial of the events in China appear to be coming to their senses. That means the market's getting closer to properly pricing BTC for a post Chinese exchanges world.

This is only a guess, and I could easily be wrong, but I'd be surprised if the bottom ends up breaking $3k, or even the $3200ish numbers the Technical Analysis guys are so in love with.

FWIW, I'm buying today. In keeping with the dollar cost averaging prices I outlined last night, I've had 5 different buy orders trigger this morning between $3701 and $3501, and one of the reasons I'm hopeful the recovery will be robust is that lost in all this China news is the fact that SegWit has succeeded beyond anyone's expectations at reducing BTC's fees and wait times.

Hang in there, Jake. Don't sell into the crash. These things always feel like they're the end of the world, but they never are. Crashes suck, but they pass. Power, brother.

I'm not going anywhere. I am not a panic seller and am holding firm.

Thanks again for all your insight regarding cryptos

[triplecrown333]

yeah with crypto, there is no floor or ceiling

[USCPHILLYGUY]

I'm not going anywhere. I am not a panic seller and am holding firm.

Thanks again for all your insight regarding cryptos

Jake talked me down from the bridge this morning