About This Club

Club for discussing and trading crypto currencies. Bitcoins, Ethereum, Litecoin etc.

  1. What's new in this club
  2. Hi, another Guardian article. https://www.theguardian.com/technology/2018/jul/16/uk-strong-position-leader-crypto-economy-global-hub-blockchain-technology-report-says Thanks Deputydog
  3. Sure - basic stuff like in any asset class. This is nothing to do with emotion - its based on confidence in the potential of blockchain technology and technical analysis of the cyclical nature of the crypto bull and bear runs. We have had a correction essentially of the same magnitude as previous years, so its a reasonable expectation that we will swing up again.
  4. Today i bought 0.03BTC trying to accumulate again just now
  5. Don’t chase the bottom it rarely works. Buy low sell high as long as you make a profit that’s all that matters. Don’t let your emotions trade. I’m sure you’ll do great.
  6. So far so good, but atill not convinced this is not a “dead cat bounce”. HH - i usually buy on Kraken or GDAX and then store on a Ledger Nano S. Also on KuCoin, Bittrex and OKex for some of the more exotic Alts ( ie the ones that i have lost 90% on 😥). Still HODLing through with an altfolio i bought last summer / fall. Optimistic for the coming months- but smarter about my exit points this time.
  7. I hope your timing is good. What sort of wallet are you using (or are you trading)?
  8. Brave, time will tell if its stupid. Enjoy the ride.
  9. Well - a couple of days ago, as i was bravely / stupidly trying to time the bottom, 1 BTC and 15 LTC. Wish me luck! I am hoping that we see a nice late summer rally like in 2017 but i have absolutely no real data on which to base that hope. We need volume, Big institutional / pension fund money and finally FOMO all to kick in (in that order!) lindeman
  10. I'm from Quebec, where the amount of electricity given to that industry is around 6o times the amount of megawatt it takes for a metallica concert. What the others mentioned above here is almost valid here as well, and although I did look into this as a way to just sit back and enjoy the dividends, after some quick calculations I took step backs instead. There are a few mining hives here in Montreal and other big cities( as mentioned here in these articles) https://www.cbc.ca/news/canada/montreal/sherbrooke-mayor-welcomes-quebec-owned-cryptocurrency-miner-set-to-create-up-to-250-jobs-1.4569969 and another was released by bloomberg canada recently. Even with dirt cheap electricity cost, I don't think it'd be a sound decision (for me at least) because I did some evaluation with charts and spoke with some pool owners and I could hardly break even if I was trying to make such a run. Here are websites for reference, one that has a chart comparing cost and efficiency( not exactly new and neither is the next link where a prospector tells his tale and how he ended ...unless his wife told him so, we'll never know) https://www.buybitcoinworldwide.com/mining/profitability/ https://www.quora.com/Is-anyone-making-money-in-bitcoin-mining-anymore He ends up in the red after years of investment and building to have a decent at home rig. Still, I guess, how can one small end-user make it big with a miner maybe two, even if buying used&not hosting this in their garage?
  11. Even the Comex has acknowledged that there is manipulation going on. They´ve offered awards for information about it so it´s not a conspiracy theory.
  12. This is usually people trying to make sense of loses and rationalise irrational market movements. They overlook the simple concept there may not be many buyers in the market. The general price decline has been accompanied with lowering volume. Pop analysis using mining costs as a floor is naive because most production occurred in the past when cost were lower, so miners remain in profit over longer term. They can also run operations at a loss for a period rather than nothing, because -10,% 20% is better than -100%.
  13. By the way, I'm still in nether-regions deep.
  14. That was 'sell the news' on an epic scale.
  15. The cost of mining varies enormously, depending on the price they are paying for electricity. The reason much mining is done in China is because they have cheap electricity. Here is an interesting video about a crypto mining operation in Iceland using geothermal energy. https://www.youtube.com/watch?v=w095nDjvrfQ
  16. It is odd that the cryptos bahaviour changed the instant the Bitcoin futures market opened though.
  17. I'd say manipulation is the least of their worries I'd be much more concerned if I woke up one day to find x amount of BTC disappearing from my account!
  18. At the moment the crypto youtubers are often taking about market manipulation and bitcoin's price being below mining costs. I find it troubling since these are the exact same explanations/conspiracies/excuses we heard from the PM youtubers.
  19. I didn't mean do exactly what they've done with the banks but you have summed up the point I was trying to get at they need to be more secure and regulated before the crypto prices can go up and stay up.
  20. Crypto exchanges are not really comparable to banks. Banks engage in fractional reserve lending and so are vulnerable to bad debts and bank runs. Stress testing is a way of helping to ensure that banks can cope with the likely consequences of a recession or some other economic shock. Crypto exchanges do need to be regulated, because they are currently getting away with all kinds of bad practices that would be illegal for a securities broker. But the main issue is that people are mainly buying crypto as a speculative investment. They are not using it for transactions, but are just holding it on the exchange where they bought it, so they can sell it again when the price rises. This is completely insecure. It is like calling a coin shop, buying some gold coins and asking the shop to put your coins in a box under the counter for you. If the shop is burgled or a rogue employee helps themselves, you've lost your coins. If you buy any crypto you should transfer it off the exchange and onto an account you have created yourself with a wallet. Of course, the fact that you have to do this is one of the reasons that crypto is not ready for general use among the public at large.
  21. Am I correct in saying that unless these cryptos/ crypto exchanges can be stress tested and pass like they have with the banks or find someway or strengthen themselves against hacks then surely the value of cryptos will just decrease?
  22. @Xander your son might want to look into this to get a claim in. https://cointelegraph.com/news/mt-gox-crypto-exchange-begins-civil-rehabilitation-proceedings-ends-bitcoin-sell-offs
  23. Deputydog

    To good to be true

    According to these people it is a scam. https://thebestbinaryoptionsbrokers.net/unfair-scam-bitcoin-news-trader-review Thanks Deputydog
  24. Hi, I saw this about a deal that was made on dragons den. http://dailynewswire.co/top-5-dragons-den-inventions/?track=b4c45428f2fc761ac21a0f7a343419c0&utm_source=dsp&utm_campaign=698924&utm_medium=cpc&utm_term=dd3_Smartphone_msn-msn-home Thanks Deputydog
  25. Hi, another Guardian article. https://www.theguardian.com/us-news/2018/jun/14/steve-bannon-cryptocurrency-deplorables-bitcoin Thanks Deputydog