Bitcoin, Altcoin and Cryptocurrency Thread
- Thread starter PocketZeven
- 405 comments
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- 5,051
- Netherlands
- 28,414
- Glasgow
- GTP_Mars
I'm now officially a cryptocurrency owner 
I figured that a small investment is worth the risk given that the interest on savings in the UK is so woeful!
I figured that a small investment is worth the risk given that the interest on savings in the UK is so woeful!
VolkswagenX
(Banned)
- 1,532
- Netherlands
I'm now officially a cryptocurrency owner
I figured that a small investment is worth the risk given that the interest on savings in the UK is so woeful!
Same reason I got in. Bought 3% bitcoin when it was around € 3.500,- . After that I started investing small amounts in different alt coins each month.
- 5,051
- Netherlands
Personally I don’t see electroneum as a value adding token. Might be a good pump and dump for short term gains.
Didn’t do in depth research but could be wrong. Stick to top 10 coins to reduce risk. In my view these coins will grow in the same rate as the total market cap. Approx 750B atm and I’m confident it will reach 1T soon. That means a 25% profit.
P.s.: Don’t promote bitconnect! It is a total scam and a Ponzi scheme. I hope the moderators will do their research on this. I hope you didn’t buy into their insane claims!
- 9,401
- Western Sydney
- mustafur
1. Electroneum can be a top 5 coin, its designed to get 3rd world markets into crypto via their high rate of smart phone ownership, plus its based on Monero one of the best blockchains in the market. Keep in mind its managed everything its at right now without being on any major exchanges and its full product not even been released yet which means its at the best time for investment before the value gets added.
I bought in the ICO at .01 cent each so i have already made 15x my money and there is a good 100x to be made coming soon.
2. Bitconnect isn't a ponzi, I don't exactly use it much anymore as there is way better ways to make money but basically what they are doing is selling their coins to pay lenders, the coins price rise has significantly outpaced the lending rate so it's easily doable and they haven't assured any investment return so I fail to see the ponzi, its not exactly a secure longterm thing though so therefore they will need to fork the currency(see bitconnectX).
The biggest current problem in the crypto world is Youtubers spreading fud who have zero clue what they are talking about outside the few coins they understand.
It's incredibly important to do your own research in this field and not to follow peoples advice without looking into it your self or you will be burned.
Also i haven't invested in any top 10 coin since i started Crypto about 6 months ago apart from Dash in the early stage (when it was top 10.)
There is significantly more money in it if you do your reaserch and find hidden gems, instead of getting 25%-100% your getting 1000%+
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- 140
- Melbourne, Australia
Thanks for this, sounds great. Only thing I'm sceptical of is the 100x gains - it's at 16c right now and given the supply is so high is there really that much room for growth? That would put it above Ripple and below ETH at $16 per coin. Unless you were referring to 100x on your own investment (i.e. 10x from now)? Very tempted here as it seems to be for a good cause too.
- 9,401
- Western Sydney
- mustafur
Keep in mind the Total market cap of all coins has been doubling every couple months. When I started 1 billion Market cap got you 5th now the same amount gets you 43rd. There is plenty to come.
I was referring to 100x from when I started, but give it a year I think 100x from the price it's at now is possible, It's the highest coin in Crypto that isn't in a top 20 exchange so you can see there is alot of untapped potential(They have applied to Bittrex and Binance and they should be on atleast one within the month).
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- 28,414
- Glasgow
- GTP_Mars
Already getting dizzy with these price fluctuations... started this morning with a decent profit only to see it practically reversed in 8 hours... now it's gone back to profit already.
A single Ethereum coin has gone up €100 in value in the last hour
yet it is still worth €50 less than it was this morning 
A single Ethereum coin has gone up €100 in value in the last hour
yet it is still worth €50 less than it was this morning 
Carlos
Premium
- 6,453
- Netherlands
Already getting dizzy with these price fluctuations... started this morning with a decent profit only to see it practically reversed in 8 hours... now it's gone back to profit already.
A single Ethereum coin has gone up €100 in value in the last hour
The price per coin in Euro or Dollar is influenced by what Bitcoin does. When you have invested in a coin like Ethereum (or whatever coin transfers back to Bitcoin) it is important to look at how many Bitcoin (usually exchanges show worth in Satoshi (=0.00000001 bitcoin)) it is worth. You could even lose money by just looking at the prices in Euro/Dollar.
Ethereum:
Bitcoin:
Looking at the Ethereum chart, in blue is Dollar and the green line is price in Bitcoin. Compare the green Bitcoin line in the Ethereum chart with the Bitcoin chart below. This learns us that when Bitcoin price per coin is high, Ethereum return per coin in Bitcoin is low. So although it may look like it is worth more in Euro/Dollar, it is actually not if you have already sold your Bitcoin for Ethereum.
You say it is still €50 less than what it was this morning, but we also see that Bitcoin itself was around $1000 more per coin this morning.
Ideally you want to sell your Ethereum when Bitcoin is at its lowest and buy Ethereum when Bitcoin is at its highest. A Bitcoin crash for example could be very good for business when you have invested all your Bitcoin in altcoins, very much when your altcoin is not influenced at that very moment by the crash. The return in Bitcoin is much higher and then you just have to wait for the Bitcoin to recover and buy altcoins at their lowest (lowest possible).
boiltheocean
Premium
- 7,756
- Samoa
This would make more sense if Bitcoin was the only Fiat gateway, however many exchanges let you trade FIAT/ETH and many other exchanges let you trade ETH/ALTS. There is no need to involve yourself with Bitcoin anymore.
The market has been extremely volatile today because people rushed to sell when they saw a huge price drop on coinmarketcap, when in reality they were just removing the outliers.
- 3,835
- Leiria
Me and my brother are looking seriously into investing in cryptocurrency and I'm looking for general advice to get started. Since I'm not financialy independent my parents only allow me to invest 50-60€ while my brother has a broader budget. Anyway, what are some good trade sites and also some general advice on storage, in case I want to cling to the coin as long as possible.
Besides spliting my investments throughout multiple alt coins and I'll certainly invest in XRP and mabye Dogecoin (because why not) what are other coins worth a look? I have very limited knowledge on cryptocurrencies.
Besides spliting my investments throughout multiple alt coins and I'll certainly invest in XRP and mabye Dogecoin (because why not) what are other coins worth a look? I have very limited knowledge on cryptocurrencies.
- 5,051
- Netherlands
Start by researching the top 10 coins at www.coinmarketcap.com, www.worldcoinindex.com or www.coinindex.com. These sites can help you find info about the coins and which exchanges you might want to register. But beware. A lot of the larger exchanges have closed registration temporarily while they prepare for larger traffic.
- 3,835
- Leiria
I've checking coinmarketcap almost everyday to update myself on the markets and prices are holding up. And yes I've been paying extra attention on which exchanges I can trade, because you know, I don't wanna lose money stupidly
- 8,381
- The Black Lodge
It's worth to mention that you can trade ETH directly for USD/EUR in a lot of places, so you don't need to trade/calculate to BTC first for ETH if you don't want to. As a matter of fact, transaction costs make it more worthwhile to purchase/sell ETH directly.
I do most of my trading on Binance, and there's an ETH market there next to the BTC market, so there's actually an equivalent for 'Satoshi' in ETH.
(Don't think it has a name yet though). I only swap to BTC if BTC is bulking (and as a result the whole market for alt-coins goes down).Example is 100% valid for coins you can't trade directly though. 👍
EDIT: @boiltheocean Already said this I see, sorry for the repeat.
Their panic sells were my buys. Which I sold later at a big profit when market stabilized again.
- 28,414
- Glasgow
- GTP_Mars
The price per coin in Euro or Dollar is influenced by what Bitcoin does. When you have invested in a coin like Ethereum (or whatever coin transfers back to Bitcoin) it is important to look at how many Bitcoin (usually exchanges show worth in Satoshi (=0.00000001 bitcoin)) it is worth. You could even lose money by just looking at the prices in Euro/Dollar.
Ethereum:
Bitcoin:
Looking at the Ethereum chart, in blue is Dollar and the green line is price in Bitcoin. Compare the green Bitcoin line in the Ethereum chart with the Bitcoin chart below. This learns us that when Bitcoin price per coin is high, Ethereum return per coin in Bitcoin is low. So although it may look like it is worth more in Euro/Dollar, it is actually not if you have already sold your Bitcoin for Ethereum.
You say it is still €50 less than what it was this morning, but we also see that Bitcoin itself was around $1000 more per coin this morning.
Ideally you want to sell your Ethereum when Bitcoin is at its lowest and buy Ethereum when Bitcoin is at its highest. A Bitcoin crash for example could be very good for business when you have invested all your Bitcoin in altcoins, very much when your altcoin is not influenced at that very moment by the crash. The return in Bitcoin is much higher and then you just have to wait for the Bitcoin to recover and buy altcoins at their lowest (lowest possible).
As noted above, I don't think this applies to me as I have only bought Ethereum directly with GBP, and can sell them directly for EUR.
That said, I noticed last night that the four CCs on Coinbase (Bitcoin, Bitcoin Cash, Ethereum and Litecoin) had almost identical profiles for a couple of hours, with a sharp drop (nearly 20% in the case of ETH) in all 4 happening almost simultaneously. I can't help feeling that there is a degree of manipulation possible in many of these currencies/exchanges, and hence I reckon it is a very high risk proposition to invest any more cash in these things than one can easily afford to lose. That said, it is rather fun thinking about what one would do with a couple of extra zeroes on one's investment (or one extra for that matter), though I have already had a dream where I woke up to find my cryptocurrency holdings had dropped in value by 99.9%.
- 9,401
- Western Sydney
- mustafur
The drop happened when coin marketcap decided it wasn't going to recognise any Korean exchanges due to price manipulation.
http://www.news.com.au/finance/mone...a/news-story/ecc5f4dcab56b5f3da31b803b1db4446
http://www.news.com.au/finance/mone...a/news-story/ecc5f4dcab56b5f3da31b803b1db4446
- 13,831
- Down under
I think every CC speculator bar a few truly ignorant ones have had the lightbulb moment when the realisation of market manipulation is had.
It is unregulated and fraud and manipulation is rife from:
- Scamcoin ICOs
- Fake whitepapers with coincaps of billions
- Whales and PnD schemes
- Shillers like McAfee
- Tether money printing and associated wash trading to support BTC prices
- 9,401
- Western Sydney
- mustafur
That depends, I would say its more risky to invest in a overbought top 10 coin then a coin that is about to release something big and your aware of it and the coin isn't in the top 100.Which is also a lot more risky of course.
Crypto is early stage in a year half the top 10 might not even exist as you know it. I would say we are still a bit a away from saying a certain stage of coin is safer then another just by being a rank.
- 28,414
- Glasgow
- GTP_Mars
Another way to (potentially) make money from cryptocurrencies - Kodak are planning to run bitcoin mining rigs that you can rent:
http://www.bbc.co.uk/news/technology-42630136
http://www.bbc.co.uk/news/technology-42630136
