Cryto Currency (Bitcoin, ETH, LTC, EOS, BNB, XLM, ADA)

[stratatonic]

BTC hit $6360 today. Just look at this month's growth, and the month is only 1/3 over. BTC was at $4000 just a month and a half ago.

So why didn't you start this thread back then?...

I just made 11% off XMR today. Bought it a day ago, just sold it.

How liquid is the market? Can you buy and sell instantly? It seems from what I am reading, that there is some lag time after a sell order has been placed.
The whole crypto market seems pretty unregulated.

[djadalaide]

The only downside:

https://digiconomist.net/bitcoin-energy-consumption

[BRIGGS]

The only downside:

https://digiconomist.net/bitcoin-energy-consumption

Ah yes, the cost of freedom.

BTW, the universe offers unlimited clean energy...someday more people will care:

[challism]

Bitcoin hit $7600 yesterday! DAMN!!!

BTC hit $6360 today. Just look at this month's growth, and the month is only 1/3 over. BTC was at $4000 just a month and a half ago.

So why didn't you start this thread back then?...

I'm not sure I understand the nature of your question. Your tone seems kind of derogatory, unless I am misreading you. I'm not sure why it matters when this thread was started, does it? It's a thread to discuss crypto. Asking you "Why didn't you comment on this thread earlier" would be an equally moot question, wouldn't it? .....

EDIT: I just noticed your "razz" face after the post. I guess you were joking around with me? And here I was being all serious.
You're right, man. I should have started this thread back when BTC was $100. It was $300 when I first heard about it. I didn't get started until it was at $4000 in 2017. Stupid me! I should have bought it in 2013 (or so) when I first heard about it.

I'm on a number of other forums where I can discuss crypto. RT is the forum where I discuss Reason. I don't really spend much time in "The Kitchen" here on RT. But I have talked with Briggs about BTC privately (due to seeing his signature to "buy Bitcoin") and thought I would post about crypto here in The Kitchen to see who else is into crypto or who might want to learn about it. There is also a promotion going on with Blockchain.com where they are giving away $50 worth of crypto, and I wanted to share that with anyone who is interested. I'm sure there are plenty of people on RT who are curious, and I would be willing to lend them a hand and share what I know.

I just made 11% off XMR today. Bought it a day ago, just sold it.

How liquid is the market? Can you buy and sell instantly? It seems from what I am reading, that there is some lag time after a sell order has been placed.
The whole crypto market seems pretty unregulated.

It is very unregulated, yes. It's the wild, wild west. There are both good and bad things about that.

The liquidity depends on what coin you are buying and what exchange you are buying it on. If you are buying/selling BTC, you are sure to have you order filled instantly (assuming you are placing at the ASK/BID prices). You can't place an order for Bitcoin for $1 and expect it to be filled, obviously. But if the ask price is $6999.99 and you place an order for $7000, it would fill immediately after you click submit (assuming you don't have orders in front of you in the order book, at the exact same price. If you do, you could always change your price to $7000.01 and your order would be ahead of all the orders at 7k even.

If you are buying a coin with really low volume, you could be waiting a long time for the order to fill. Most of the top coins on the top exchanges have decent volume and you can get an order placed pretty fast. It all depends on volume. If nobody is buying or selling, the price won't move at all. I don't even look at a coin if it isn't in the top 100 (or 24 hour volume is too low). We will see a lot of coins come and go in the coming years. You don't want to end up holding bags of Sh*t.

[DinoJ]

*raises hand* I only just spotted this thread, another Crypto lover here!

Glad to see there are others here too.

[wendylou]

I did notice bitcoin in the very beginning, downloaded an app, but never bought any. In 2017, I started to see the meteoric rise and decided I liked Ethereum (ETH) over Bitcoin. So I started trading bigtime on Coinbase, hourly and daily. Things were going very well until I got caught in nosedive across all cryptocurrencies in late 2017 that began while I was sleeping. I had yet to implement automatic trade protections that could have sold when it hit a trip point. Then the IRS decided to tax every trade and I decided to get out completely. I probably broke even or so but did not lose money. It was pretty exciting while it was going up like crazy. I thought I was going to play catch up on retirement savings, but everything changed quickly after the nosedive. Not sure I'll ever get back in.

[Jackjackdaw]

I think crypto is really interesting. It's early days but the thing I noticed about it is how many really young, really smart people are working on blockchain projects. I think whatever the future holds it will incorporate at least some of the start-ups that are happening now.

Investment wise it's the wild west for sure. I have a few different coins the one i am most excited about is SEAL, an anti counterfeiting blockchain company working with brands and the EU . If they pull it off their blockchain solution could be a real game changer.

[stratatonic]

EDIT: I just noticed your "razz" face after the post. I guess you were joking around with me? And here I was being all serious.

Yeah, I was...

So Bitcoin is now around 12000 - after teasing 14000 yesterday...wtf! o_0!!

Is this going to be pumped until Facebook and JPMorgan go public with their crypto?... crazy

[BRIGGS]

Yeah, I was...

So Bitcoin is now around 12000 - after teasing 14000 yesterday...wtf! o_0!!

Is this going to be pumped until Facebook and JPMorgan go public with their crypto?... crazy

Welcome to the crypto roller coaster. Enjoy the ride!

[BigPictureSound]

Only 21 million Bitcoins will ever be mined.

I can't see this working in the long-term. It isn't inflation-proof, meaning that at some point 21 million will not provide sufficient usable currency. They would have to either move to an absolute fiat model, thus allowing more currency to be created arbitrarily and on an ad-hoc basis, or expand the size of the blockchain to allow for more to be mined. I get the intention behind limiting it to 21 million - to make it represent a finite resource and thus giving it value - but this is not quite an accurate model of currency. Currency represents many different types of tangible things, each of which may be finite, but the total sum of which is constantly expanding as new services and products are created and new types of resources are required.

The way crypto is traded in decimal points makes me wonder if a total mint number is completely arbitrary. Its like having a gold bar that you can split into 100,000 pieces and then consider it just “1” unit.

Also, many believe the crypto boom (bitcoin being the nucleus) was due to market manipulation using tether. Is blockchain the future? Maybe, but right now it is 100% prospecting by investors throwing money at well-written white papers.

[ProfessaKaos]

Anyone still into this?

[BRIGGS]

Anyone still into this?

Yep, still stacking BTC. Everything else, look like poop.

[wendylou]

Anyone still into this?

Yeah, I got back in again earlier this year to hodl ETH and BTC as a hedge against inflation. Wider adoption is still early days but big institutional money is now moving into the space and a bitcoin ETF was just approved. Also, the SEC announced it is not going to attempt to ban crypto, although regulation is sure to follow as things mature.

[Rising Night Wave]

yeah. holding some shiba. looking how it slowly rises.

[avasopht]

Making money from Bitcoin is dependent on someone else's losses - and you'll never know until after the fact which one you are