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Virtual Currency - Alt Coin Discussion Thread Virtual Currency - Alt Coin Discussion Thread

05-26-2017 , 12:02 AM
Quote:
Originally Posted by Pinkmann
I assume plenty of people don't understand the supply element of the equation, so idiots buy stuff that is cheap thinking it could go to 100$. I even had to explain this to a friend of mine who has been into/interested in crypto for years.
I've also explained this to many people. I legit have like 20 people who have bought ETH because of me (and they each have like 4 friends under their belts who bought or are trying to buy, so I hear stories) and now I get 100 texts a day asking about LTC and "I get more coins for my money if I buy this and that."

I'm happy I see this because I get a good market mentality. Like right now I'm fairly certain ETH still goes higher because I still know of 10 people who are trying to get verified to buy, and many more who only dropped like 1k or something that want to get more involved.

THIS MEANS MASSIVE SUPPORT!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!

Like I can't stress that enough.

On a last note though, I've always stuck with what I thought was the play long term. And now that I see so many damn morons entering the market, it's almost like it could be profitable again throwing cash at ****coin because it's 2 cents.

What I always stress to my pals is that when this **** bursts, its the real deals that move on. Wondering if I need to change my mentality a bit to do some trading with small market cap ****.
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05-26-2017 , 01:36 AM
what is happening in the crypto market structurally when a correction like this occurs? all the money flows in to the ecosystem during these booms (mostly into eth and btc). but when a crash happens, who are the buyers? who had usd sitting around to buy? is it the people that sold at the top? newbies doubling down on the tip? people margining up? discuss.
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05-26-2017 , 02:56 AM
Quote:
Originally Posted by invictus-1
what is happening in the crypto market structurally when a correction like this occurs? all the money flows in to the ecosystem during these booms (mostly into eth and btc). but when a crash happens, who are the buyers? who had usd sitting around to buy? is it the people that sold at the top? newbies doubling down on the tip? people margining up? discuss.
The correction happens when the people looking to get in run out.

I have my buddies screaming crash at $150 when eth went from 90 to 200 in a week and it pisses me off. God damn sheep. No ****ing vision.

The next best one is, "I wish I had listened to you at $14"

Sheep gonna be sheep I guess

That's the nature of this world now. I think these bubbles gonna get bigger and bigger.
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05-26-2017 , 08:40 AM
Quote:
Originally Posted by noname6520
Its kind of interesting that the Tezos founders have such a revolutionary concept (decentralized/transparent funding of development) and yet the initial development is so cetnralized/opaque (i.e. they are raising a ton of money right off the bat in an uncapped ICO that is expected to raise 100s of millions of dollars). I think it is a great idea but would have liked to see more effort given to decentralization in Tezos's infancy as well...

I guess what I am saying is that I read the white paper and thought that it is a great idea (although the devil with these kinds of ideas is always in the details). However, I keep coming back to that uncapped ICO in a particularly frothy time in cryptos in general. It just seems so against the entire spirit of the project...

Thoughts?
Read this regarding Tezos:
https://www.reddit.com/r/ethtrader/c...os_coinss_ico/

The incentive structure for the owners is pretty ridiculous. They will be able to cash-out early and get paid a ton for a pretty questionable project.

Besides, there are several other red flags. They claim to have been working on this for several years, yet the founder was working at his mainjob until 2016 (when someone on reddit discovered it he quickly deleted his LinkedIn or at least made it private).
The ICO has already been postponed and the foundation that should serve as a supervisory body has been handpicked by the founders.

The only reason that Tezos is really getting hyped is probably the involvement of Tim Draper. But Draper is going to cash in, while most of the users will be stuck with a rather useless coin.

The idea behind Tezos is nice, but there are way too many red flags, especially the outrageous incentives for the founders.
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05-26-2017 , 08:47 AM
Quote:
Originally Posted by onemoretimes
The next best one is, "I wish I had listened to you at $14"
Had this from a number a friends this past week. Told them to get in now. They say it's too high and will drop. I say ok, we'll talk again in 4 months and see where it is.
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05-26-2017 , 10:37 AM
Quote:
Originally Posted by Irieguy
Here is how it works:

Whenever you buy crypto you create a tax basis. When you sell it or trade it you realize a net gain or loss.

So if you buy 1 BTC in January for $1000 that is your basis. Then in May you buy 1000 Monero for 1 BTC when BTC is worth $2000. You just made $1000 and your new basis is $2000.

If that's all you do that year, you owe tax on $1000 in capital gains. If in December you sell all 1000 Monero for $500 you owe nothing in taxes on the buying/trading/selling. If you sold the next January instead you would owe tax on the $1000 gain you had the previous year in May, and in January you would incur $1500 in capital investment loss vs your $2000 basis at the time you acquired Monero.
https://klasing-associates.com/possi...to-currencies/

The law is not clear on how it will work and if alt coins are like kind, as they should be, then a like kind exchange could be made. Btc for a house would not be a like kind exchange. How did you come to the above conclusion Irie?
Unfortunately, we may not know for sure until someone tests it with the IRS.

Sent from my SM-G920F using Tapatalk
Virtual Currency - Alt Coin Discussion Thread Quote
05-26-2017 , 10:39 AM
Quote:
Originally Posted by lol vanguard
Read this regarding Tezos:
https://www.reddit.com/r/ethtrader/c...os_coinss_ico/

The incentive structure for the owners is pretty ridiculous. They will be able to cash-out early and get paid a ton for a pretty questionable project.

Besides, there are several other red flags. They claim to have been working on this for several years, yet the founder was working at his mainjob until 2016 (when someone on reddit discovered it he quickly deleted his LinkedIn or at least made it private).
The ICO has already been postponed and the foundation that should serve as a supervisory body has been handpicked by the founders.

The only reason that Tezos is really getting hyped is probably the involvement of Tim Draper. But Draper is going to cash in, while most of the users will be stuck with a rather useless coin.

The idea behind Tezos is nice, but there are way too many red flags, especially the outrageous incentives for the founders.
I was immediately turned off when I found at the founders are a high frequency trader and a Goldman executive. They are just looking to cash in. Its likely a very well funded pump and dump.
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05-26-2017 , 10:43 AM
Quote:
Originally Posted by Czar Chasm
May I ask why the prices here always seem significantly lower than what is shown on Coinbase and google?
Not sure exactly. I think they use an average of prices from different exchanges weighted by volume. If you click on the price I believe it gives you the price that it is trading on at the various exchanges. And then it is weighted by volume.
Virtual Currency - Alt Coin Discussion Thread Quote
05-26-2017 , 10:50 AM
Quote:

What I always stress to my pals is that when this **** bursts, its the real deals that move on. Wondering if I need to change my mentality a bit to do some trading with small market cap ****.
I think the down turn will be more like a balloon that slowly deflates. I think a lot of people have noticed the recent run up and are on the sidelines waiting for pullback.

We might have already started the downturn. Total market cap hit 90 billion twice and then pulled back. But there should be time to get out before we get back to pre April levels.
Virtual Currency - Alt Coin Discussion Thread Quote
05-26-2017 , 12:36 PM
Quote:
Originally Posted by MadScientist
https://klasing-associates.com/possi...to-currencies/

How did you come to the above conclusion Irie?
Unfortunately, we may not know for sure until someone tests it with the IRS.

Sent from my SM-G920F using Tapatalk
I haven't been audited so I guess it isn't tested yet, but this is how my accountant handled crypto for me since 2013.
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05-27-2017 , 10:52 PM
I have two withdrawals that were stuck in "Awaiting Approval" limbo on polo. The first is a week old. My account is verified and the amounts are less than 1k combined.

Other than hounding them through support tickets, is there better option to force them to act on these tx instead of just not having access to my funds? Thanks for any ideas!
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05-27-2017 , 11:11 PM
Quote:
Originally Posted by irockhoess
I have two withdrawals that were stuck in "Awaiting Approval" limbo on polo. The first is a week old. My account is verified and the amounts are less than 1k combined.

Other than hounding them through support tickets, is there better option to force them to act on these tx instead of just not having access to my funds? Thanks for any ideas!
You're trading coin on polo right, so would you like to exchange usdt for usd in poker room, Skrill or Neteller ?
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05-27-2017 , 11:16 PM
No I do not want to exchange anything. I just want to find a way to get their support to even respond to me and just push through a manual trade since the auto was flagged and am looking for any options outside of support tickets.

I have a very small amount of ETH and a random altcoin that I already withdrew to their respective wallets but the transfer has been stuck in "Awaiting Approval" on polo's end for a week now with no response to support tickets. I have also had successful withdrawals since then for greater sums so it seems to be just stuck.

I don't have access to the funds in my polo acct as they are stuck in transit and polo seems to not care.
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05-27-2017 , 11:54 PM
Umhum, I'm looking for and exchange of usdt or btce code for usd in poker room, Skrill, Neteller ... so if anyone is interested, just pm. I'll pay some vig
Virtual Currency - Alt Coin Discussion Thread Quote
05-28-2017 , 12:19 AM
Quote:
Originally Posted by irockhoess
I have two withdrawals that were stuck in "Awaiting Approval" limbo on polo. The first is a week old. My account is verified and the amounts are less than 1k combined.

Other than hounding them through support tickets, is there better option to force them to act on these tx instead of just not having access to my funds? Thanks for any ideas!
what coin? i've read that sia was having some issues a couple days ago. i withdrew some some florincoin and it took minutes.

perhaps just cancel withdrawal, convert to something else, then try again.
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05-28-2017 , 07:43 AM
Does anyone have some insights about https://basicattentiontoken.org/ ?
I tried to understand it, basically for this to work a lot of people should use their new browser, seems unlikely to happen
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05-28-2017 , 08:07 AM
Quote:
Originally Posted by hrvoje07
Does anyone have some insights about https://basicattentiontoken.org/ ?
I tried to understand it, basically for this to work a lot of people should use their new browser, seems unlikely to happen
My thoughts is they'll end up licensing the tech to Firefox or Chrome. Can't see people changing browsers
Virtual Currency - Alt Coin Discussion Thread Quote
05-28-2017 , 09:15 PM
I wanna take a small position on an alt coin, from what I can gather I need to take that position in bitcoin.

Only thing I'm used to is coinbase, which this coin is not on obv.

Suggestions on where to buy? PIVX fwiw.
Virtual Currency - Alt Coin Discussion Thread Quote
05-28-2017 , 09:17 PM
Quote:
Originally Posted by Go Get It
I wanna take a small position on an alt coin, from what I can gather I need to take that position in bitcoin.

Only thing I'm used to is coinbase, which this coin is not on obv.

Suggestions on where to buy? PIVX fwiw.
bitcoin = altcoin now? coinbase has bitcoin, ethereum and litecoin
Virtual Currency - Alt Coin Discussion Thread Quote
05-28-2017 , 09:24 PM
buy bitcoin (can be in coinbase, but will pay some fees), transfer over to poloniex.com. use the bitcoin to transfer into whatever alt coin you want.
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05-28-2017 , 11:07 PM
Quote:
Originally Posted by fozzy71
bitcoin = altcoin now? coinbase has bitcoin, ethereum and litecoin

No, maybe not clear there but Bitcoin is what you need to use to buy altcoins. Not Bitcoin is the alt. And I have bitcoin on coinbase, which was the reference to coinbase.

Quote:
Originally Posted by Zima421
buy bitcoin (can be in coinbase, but will pay some fees), transfer over to poloniex.com. use the bitcoin to transfer into whatever alt coin you want.
TY, will give this a shot.
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05-28-2017 , 11:53 PM
may I ask which of the two : https://bittrex.com/home/markets and https://poloniex.com/exchange#usdt_btc
you like to trade ?
As I can see, the btc price from Bittrex is often lower than Poloniex and I just wonder why people dont choose to buy btc at Bittrex than at Poloniex.
If you know any btc broker better than these two, pls recommend me.
Thanks
Virtual Currency - Alt Coin Discussion Thread Quote
05-29-2017 , 02:13 AM
Quote:
Originally Posted by Go Get It
Suggestions on where to buy? PIVX fwiw.
Bittrex
Virtual Currency - Alt Coin Discussion Thread Quote
05-29-2017 , 02:24 PM
Quote:
Originally Posted by Pinkmann
Bittrex
Yeah, from what I can see, maybe I'm doing it wrong, polo doesn't have pivx.
Virtual Currency - Alt Coin Discussion Thread Quote
05-29-2017 , 02:44 PM
Yeah it doesn't, I bought a bit hoping that would happen. Still no dice. Now the trollbox is raving for it again now that its gotten a nice pump on bittrex.
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