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Bitcoin is Booming


yukon

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2 hours ago, yukon said:

You should never leave any coin online.

Anything done online should be a temporary transaction, you get in and out within a few minutes.

Keep an offline wallet for long term storage. I've been using the MultiBit HD offline wallet for a couple of years. Also backup to a USB drive. You can even print a backup out on paper as an additional backup If needed.

My advice is consolidate everything you have into an offline wallet, get organized and start from there. This way you're not running all over the internet guessing If you've lost something.

You got scammed because you set yourself up to be scammed (leaving coin online). The same will happen when you leave cash on a restaurant table and come back 2 years later looking for your money.

I know what you're saying and completely agree from an investment perspective. I never had > .5 BTC online unless I was cashing it. BTC was ~$500 back then, so never more than $250.

But generally, as a miner, you can't really keep it all offline. You will get destroyed by transaction fees and delays since trading is an big part of mining effectively. I used to get an extra 10-15% just by understanding the markets and timing trades well, and also paying attention to the IRC channels where people try to manipulate the prices of the lower volume coins. I'm not saying I participated, I just tried to steer clear. (That was always a crapshoot from observation anyways.)

I cashed all my BTC about 2 years ago and took the majority of my losses, all that was left was random amounts of scrypt based coins and my LTC which I thought was safe in cryptsy. It seemed on par with NYSE stock trading accounts as far as the service, with that said, I guess I should have known, since I know that's not completely safe either.

Granted, much safer as far as exchanges becoming insolvent for one reason or another.

Initially, I got in around the MtGox era, but only had a video card, so I didn't really make much.

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Bitcoin is currently at +$1401.68 up about $100 since yesterday.

Ethereum is gaining pretty fast, up +14% in the last 24 hours.

I'm probably going to get into some of the popular alt coins because their daily gains/percentages are usually double/triple Bitcoins gains. Still holding out with BTC.

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On 4/30/2017 at 11:17 AM, yukon said:

 

What I would do is exchange that Bitcoin for Ripple (XRP). Ripple is booming right now and extremely low priced, tons of transactions happening.

It's priced at $0.052589 (USD) which means you could buy 2,556 shares (minus 2% exchange fee) at the current BTC price. Let that sit for 6 months to a year and see what happens.

It's #2 out of all alt coins.

 

On 4/30/2017 at 11:23 AM, mki said:

I know the dogecoin thing might sound ridiculous because the individual value of a single dogecoin is like .00001 cents...

 

Ripple is up +118.25% in last 7 days (image below), could have doubled your money and then some...

Just like the stock market, the percentage increase is more important than the actual price. In Ripple's case the price is only $0.08 but the only thing that matters is the amount of money you personally invest + percentage increase. You also don't have to buy full shares of Ripple or any coin.

Example If you had put in $1,000 worth of Ripple coins that would now be worth +$2,182.50 seven days later which you could then cash out (USD).

 

37TGHPy.png

 

 

 

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5 minutes ago, yukon said:

 

 

Ripple is up +118.25% in last 7 days (image below), could have doubled your money and then some...

Just like the stock market, the percentage increase is more important than the actual price. In Ripple's case the price is only $0.08 but the only thing that matters is the amount of money you personally invest + percentage increase. You also don't have to buy full shares of Ripple or any coin.

Example If you had put in $1,000 worth of Ripple coins that would now be worth +$2,182.50 which you could then cash out (USD).

 

37TGHPy.png

 

 

 

I admit that ripple is a really interesting coin since it's not minable and the supply only decreases due to transaction fees (as far as I know.)

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On 5/1/2017 at 10:51 AM, yukon said:

Bitcoin is currently at +$1401.68 up about $100 since yesterday.

Ethereum is gaining pretty fast, up +14% in the last 24 hours.

I'm probably going to get into some of the popular alt coins because their daily gains/percentages are usually double/triple Bitcoins gains. Still holding out with BTC.

  I have purchased Ethereum in a small amount, might sell of my bitcoin to buy more of it. You might want to take a look into it. A few major  companies  like JP Morgan Chase are investing in Ethereum. Up dated from Yahoo. https://www.yahoo.com/tech/ethereum-next-big-thing-cryptocurrency-180004518.html

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5 minutes ago, gnojham said:

'Up to 850' or 'up 850'? You said it was at 1300 not long ago,  so one of these is bad...

Lol, up to $1850.

Missed it by $1,000.

Close enough.

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  • 2 weeks later...
48 minutes ago, Mike Friedman said:

Someone recently paid me for some work in Bitcoin. The payment hit when it had dropped back down to about $1720. It's over $2200 today. 

That has worked out well so far.

 

Good.

This is what I've been trying to explain to people. Bitcoin has a decent history of increasing which means you get payed more without raising your prices.

The current price is $2,269 so you've made +25% profit without doing any extra work.

Take it while you can get it.

 

 

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It boggles my mind that of all people on the internet most IMers aren't taking advantage of crypto coins.

Their livelihood revolves around the internet yet they don't take advantage of digital currency, and free money.

 

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I made +1.7% profit transferring Bitcoin from Poloniex to an offline wallet and that was after Poloniex charged a small fee. Bitcoin price increased during the online/offline transfer.

I did alright on Poloniex as far as trading but I'm stopping until they get their site lag fixed. It sucks when their site lags while trying to make a trade. They claim it's always a DDOS attack but I can see it easily being insider trading since prices still go up and down while traffic can't use the site and their coins are tied up in a trade.

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20 hours ago, mki said:

Man, that's a lot of money laundering...

This time last year BTC was < $500.


I guess you've been reading too many news sites. 

*****************************************************

Bitcoin price is currently $2727.93

SMOKIN!

 

BTW, some alt coins are doing good. Ethereum was $8 back in Jan. 1st 2017, it's now $207.

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2 hours ago, yukon said:


I guess you've been reading too many news sites. 

*****************************************************

Bitcoin price is currently $2727.93

SMOKIN!

 

BTW, some alt coins are doing good. Ethereum was $8 back in Jan. 1st 2017, it's now $207.

LMAO... Why is it $4600 in South Korea?

https://coinone.co.kr/

Something is definitely going on dude.

Also, the news sites on this subject might as well be fake news.

http://www.cnbc.com/2017/05/25/bitcoin-price-correction-record-high.html

Oh, I see, The "Fibonacci retracement", Yeah, that's A Proven Indicator for Cryptocurrencies... Mhmm...

Technical analysis are for zero sum market places like Forex, or investments like commodities and futures... Where there are legitimate trends to analyze. Unless you're an expert at making investments by analyzing patterns in chaos, in which case, you're better off waking up at 3am and watching the news.

" Currently, the bitcoin world is in "wave three" and according to Duke's analysis, $2,800 could be the level at which bitcoin begins its fall. "

Uh buddy, they're paying $4600 in SK right now...

My question is: WHY?

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53 minutes ago, mki said:

LMAO... Why is it $4600 in South Korea?

https://coinone.co.kr/

Something is definitely going on dude.

Also, the news sites on this subject might as well be fake news.

http://www.cnbc.com/2017/05/25/bitcoin-price-correction-record-high.html

Oh, I see, The "Fibonacci retracement", Yeah, that's A Proven Indicator for Cryptocurrencies... Mhmm...

Technical analysis are for zero sum market places like Forex,  or investments like commodities and futures... Where there are legitimate trends to analyze. Unless you're an expert at making investments by analyzing patterns in chaos.

" Currently, the bitcoin world is in "wave three" and according to Duke's analysis, $2,800 could be the level at which bitcoin begins its fall. "

Uh buddy, they're paying $4600 in SK right now...

My question is: WHY?

 

Damnit Bobby.

Do you realize there's more than one exchange on the interwebs?

I guarantee If you take any amount of Bitcoin and cash out on a legit US site it will be the same amount or damn close considering crypto fluctuates. This is experience talking, not CNBC or whatever.

I could care less what a foreign site does, I'll never use it.

 

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26 minutes ago, yukon said:

 

Damnit Bobby.

Do you realize there's more than one exchange on the interwebs?

I guarantee If you take any amount of Bitcoin and cash out on a legit US site it will be the same amount or damn close considering crypto fluctuates. This is experience talking, not CNBC or whatever.

I could care less what a foreign site does, I'll never use it.

 

That's not how that works though.

The exchange is active. It would be dangerous, but you could just do arbitrage and make money. Down to 4,300,000 KRW ATM.

Biggest danger would be that exchange being insolvent.

Edit: Sorry, previous post, it was 4,600,000 KRW, not USD (~4,1000USD.) The high was just under $4,500 USD (5,025,800KRW.)

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On 5/22/2017 at 9:05 PM, yukon said:

It boggles my mind that of all people on the internet most IMers aren't taking advantage of crypto coins.

Their livelihood revolves around the internet yet they don't take advantage of digital currency, and free money.

 

Feel like sharing the process you're using to do this? Aside from briefly looking at Bitcoin a few years back, I haven't done anything with it, but your posts here are inspiring.

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On 5/25/2017 at 4:03 PM, mki said:

Well I look like an idiot, it hit just under 2800 and crashed.

Coinbase crashed, screwing over the traders who wanted to panic-sell.

 

Ha, ha, just about every coin has dropped percentage wise.

I cashed out of Poloniex a few days ago. I'm getting ready to go back to Poloniex here in a min. to check out the situation and most likely jump back into a few of the alt-coins that have a good history over the last few months. Some (enough) of the historical data is on coinmarketcap.com.

I love it when people (in general) look at a massive drop for stocks and even alt-coins as something negative because it triggers everyone to sell in panic mode and makes for the perfect time to buy. After a few days the panic settles down and everyone jumps back into the investment buying like nothing happened which jacks up the price and tells us when to sell.

It's also possible to short alt-coins just like stocks. That means it's possible to make money when an alt-coin drops in price.

Anyways, I'm jumping back in If Poloniex is running decent. Sometimes the site lags which can be a PITA.

I think I'll buy back into Ethereum, it has a good history of bouncing back after panic selloffs and 2nd best behind Bitcoin for trading volume on most exchanges (it's popular).

Let the games begin...

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See, this crash on coinbase is AWESOME news. Crypto coin investing is so damn HUGE right now, seriously, it's growing extremely fast which means people are pretty much begging to dump money into coins.

 

Bitcoin exchange Coinbase crashes after Asian buying frenzy

Quote

Bitcoin exchange Coinbase crashes after Asian buying frenzy
Japanese investors rush in after cryptocurrency was made legal

 

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On 5/25/2017 at 2:30 PM, BIG Mike said:

Feel like sharing the process you're using to do this? Aside from briefly looking at Bitcoin a few years back, I haven't done anything with it, but your posts here are inspiring.

 

First you'll need an offline wallet, MultiBit HD is a good/simple Bitcoin wallet to use.

 

 

 

 

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