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

12-10-2017 , 10:36 AM
Quote:
Originally Posted by IMDABES
The exchanges are a little intimidating at first but give it a few minutes you'll figure it out. Unless your an old, then your screwed.
Give me address of an exchange that accepts skrill plz
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12-10-2017 , 12:56 PM
Quote:
Originally Posted by 6ix
If you want to mess around also look into buying some small coins that have room to grow. Like, $5 of NEO in Jan2017 is worth $1500 now. Things like that. You'll find out quickly if it's fun for you or not.

p.s. I bought some small amounts in the past and had it sit, but now that I haven't been in the mood for poker recently this has become my new game.
Thx, I only have coinbase. What is a good place to start where I can buy some of the small coins?
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12-10-2017 , 03:12 PM
The more I read up on litecoin the more I think it's a mega buy at like $120-145.

I know Rodger Ver wants bcash to be the hedge against real bitcoin but it feels like litecoin is better in almost all ways vs bcash and might end up being what bitcoin initially was going to be which is a fast secure payment method, with bitcoin being a secure store of value/way to move huge sums around.
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12-10-2017 , 03:21 PM
Quote:
Originally Posted by Go Get It
The more I read up on litecoin the more I think it's a mega buy at like $120-145.

I know Rodger Ver wants bcash to be the hedge against real bitcoin but it feels like litecoin is better in almost all ways vs bcash and might end up being what bitcoin initially was going to be which is a fast secure payment method, with bitcoin being a secure store of value/way to move huge sums around.
I agree. This is basically why I bought into LTC when I bought BTC. It seems to stay very close to 1% of btc's value, despite being designed to be 25% of the value of BTC. Would be awesome to see it close the gap one day.
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12-10-2017 , 04:41 PM
Anyone buying into Decentraland? I got some pieces of land for ****s and giggles. Could grow into something amazing if done right.
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12-10-2017 , 04:46 PM
Quote:
Originally Posted by Czar Chasm
Anyone buying into Decentraland? I got some pieces of land for ****s and giggles. Could grow into something amazing if done right.
Agreed, but it seems unlikely that an entire virtual world can run on top of Ethereum when the network slows to a halt due to the trading of virtual cats.
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12-10-2017 , 09:57 PM
Question for euros: If your home currency is euro, what's the most cost effective way to buy altcoins? Late to the party just trying to yolo a little bit, but with non-massive sums it seems super expensive to first buy BTC with euros, then send BTC to bittrex/binance etc, and then buy altcoins with BTC. Think I lost something like 20% of the € value I deposited paying fees everywhere lol. I could get my hands on USD probably, if so what'd be the cheapest way to buy alts with that?
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12-10-2017 , 10:29 PM
Quote:
Originally Posted by Chuck Bass
Question for euros: If your home currency is euro, what's the most cost effective way to buy altcoins? Late to the party just trying to yolo a little bit, but with non-massive sums it seems super expensive to first buy BTC with euros, then send BTC to bittrex/binance etc, and then buy altcoins with BTC. Think I lost something like 20% of the € value I deposited paying fees everywhere lol. I could get my hands on USD probably, if so what'd be the cheapest way to buy alts with that?
give pokerplayer euro for his btc, exchange btc to fiat on exchange, buy alts w fiat
- profit

ps: you are late to teh party given that u are a pokerplayer. you still fairly early to teh party considering gen pop
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12-10-2017 , 11:23 PM
Hey all just noticed something. I notice that btc price selling for usdt on bittrex is about 500 dollars less than on gdax/coinbase/gemini etc. If thats the case, why would anyone sell bitcoin on bittrex?


The thing is bittrex is mainly for people to buy altcoins right? The thing is this. If you are getting an altcoin like singulardtv for example, you would have to sell the btc for singulardtv. Then you receive the singulardtv altcoin. However, the thing is they are giving you a btc rate of 500 dollar less as oppose to if you sold the btc for usd on gdax/coinbase/gemini etc. I notice that the price of btc on exchanges are less than on coinbase/gemini etc. If thats the case, wouldn't it make sense if you could find someone with that altcoin you want to trade directly say your btc for their altcoin instead?

Also when you sell the altcoin for btc for bittrex... you are going to get less btc for your altcoin because the price of btc on bittrex is much lower. So is the reason why bittrex and these exchanges offer a much lower price on btc is to make money off people who but altcoins and also those that sell it for usdt where they are not smart enough to sell it on say gdax/coinbase/gemini etc? Or is my logic wrong with the btc price being lower because when sell the altcoin back to btc... the btc price is much lower than on gdax/coinbase etc so that way, it evens out? Im getting a bit confused at this because my though is if you only buy/sell btc, it would make no sense selling btc for usdt on bittrex unless you are using it to buy altcoins? But if you are buying btc at the lows and selling at the highs, doesn't that cost you money doing that on bittrex as oppose to gdax/coinbase/gemini?
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12-11-2017 , 12:03 AM
Noob question here. Should a coin's price matter to the investor? IOTA is only at $4.50 compared to LTC at $150. What does this mean? Is it better if you can get more coins? Why is IOTA's price so low compared to LTC? How is it some alt-coins are in the $1000 and some are barely a few cents?
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12-11-2017 , 12:54 AM
Quote:
Originally Posted by jimmyb23
Noob question here. Should a coin's price matter to the investor? IOTA is only at $4.50 compared to LTC at $150. What does this mean? Is it better if you can get more coins? Why is IOTA's price so low compared to LTC? How is it some alt-coins are in the $1000 and some are barely a few cents?
Look at the stock market. It's the same thing. Some stocks are $800 some are fractions of a penny. Is it better to buy the penny stocks? Probably not.
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12-11-2017 , 01:23 AM
Quote:
Originally Posted by jimmyb23
Noob question here. Should a coin's price matter to the investor? IOTA is only at $4.50 compared to LTC at $150. What does this mean? Is it better if you can get more coins? Why is IOTA's price so low compared to LTC? How is it some alt-coins are in the $1000 and some are barely a few cents?
What matters is the combination of price, circulating supply and max supply (and of course, the fundamentals of the coin itself).

IOTA has a supply of almost 3 billion, compared to only 54 million LTC.
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12-11-2017 , 06:15 AM
Quote:
Originally Posted by jimmyb23
Noob question here. Should a coin's price matter to the investor? IOTA is only at $4.50 compared to LTC at $150. What does this mean? Is it better if you can get more coins? Why is IOTA's price so low compared to LTC? How is it some alt-coins are in the $1000 and some are barely a few cents?
Quote:
Originally Posted by TheMVP
What matters is the combination of price, circulating supply and max supply (and of course, the fundamentals of the coin itself).

IOTA has a supply of almost 3 billion, compared to only 54 million LTC.
Or, to put it easier - just look at market cap

As of this post, IOTA is at a 12.2B cap and LTC is at an 8.9B cap. So IOTA is valued at roughly 40% higher that LTC.

Coins like IOTA and Ripple have a lot more coins out there, so that's why the price of the individual coins is so small despite them having large market caps. There's no fundamental difference between having a $10B market cap with 10B coins valued at $1 a piece vs having a $10B cap with 1B coins valued at $10 a piece. Both are the same thing.

Market cap is useful IMO for gauging the risk/reward for certain alt coins. For example right now IOTA is at $4.4 which may seem like a sweet "deal" compared to $470 per a single Ethereum. But if you look at market caps, The market cap for ETH is only about 4x higher than IOTA right now. So if ETH held it's value at $470 and IOTA pumped 4x to ~$17 and chance, IOTA would have a higher cap and thus be viewed as a more valuable commodity than ETH.

Last edited by beansroast01; 12-11-2017 at 06:22 AM.
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12-11-2017 , 10:13 AM
There are only a lot of iota because it's designed that way so machines can execute micro transactions. If you look at it in terms of giga iota, there are only 2,800,000 Giota and the price would be $4,300 at the current price. If you were to replace a satoshi with bitcoin, you'd also think there were a ton of bitcoin out there.

For those rushing to buy iota due to the recent pump, I'd suggest buying a very small amount and using their light wallet. It is the worst experience I have had with any coin and it might turn you off. Just educate yourself before buying the latest pumped coin. That said, I'm long iota despite all of this.
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12-11-2017 , 11:31 AM
Quote:
Originally Posted by SoCalQuest
There are only a lot of iota because it's designed that way so machines can execute micro transactions. If you look at it in terms of giga iota, there are only 2,800,000 Giota and the price would be $4,300 at the current price. If you were to replace a satoshi with bitcoin, you'd also think there were a ton of bitcoin out there.

For those rushing to buy iota due to the recent pump, I'd suggest buying a very small amount and using their light wallet. It is the worst experience I have had with any coin and it might turn you off. Just educate yourself before buying the latest pumped coin. That said, I'm long iota despite all of this.
Ive heard and read this so many times, really havent had any issues whatsoever. I mean sure you have to download a file but the whole tangle communication part shouldnt take longer than a view yt clicks and def worth the hassle so far.

On another more mainstream adoption note: been to casino twice last week, on both days, through several tables had people going on an on about crypto and IOTA esp. Live in berlin tho so not saying this is any good indicator towards IOTA or crypto, was still quite suprised for it to be that much of a topic
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12-11-2017 , 02:10 PM
Quote:
Originally Posted by Go Get It
The more I read up on litecoin the more I think it's a mega buy at like $120-145.

I know Rodger Ver wants bcash to be the hedge against real bitcoin but it feels like litecoin is better in almost all ways vs bcash and might end up being what bitcoin initially was going to be which is a fast secure payment method, with bitcoin being a secure store of value/way to move huge sums around.
Sooooo I take my own advice and go to extend my litecoin position have to wait 4 days to get money on gdax........... ****ing goes up by 50% in the mean time.......fml
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12-11-2017 , 02:42 PM
Quote:
Originally Posted by Czar Chasm

That said, if I had to pick some alts to go for based on word of mouth and very limited knowledge, I'd go for mIOTA, Nav Coin, Stellar Lumens, and Monacoin.
I looked up nav coin because of this post and I like the coin a lot. I got in @ about $1.27 due to your advice. Obviously has been great short term, but I really like the long term projects they have going on. Thanks for the coin drop!
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12-11-2017 , 03:47 PM
Quote:
Originally Posted by imjosh
There's no fundamental difference between having a $10B market cap with 10B coins valued at $1 a piece vs having a $10B cap with 1B coins valued at $10 a piece. Both are the same thing.
This isn't quite true due to human psychology. As we've seen with bitcoin, many people think you have to buy a full one and many bought LTC instead due to the price barrier. Ofc if there were more price would be lower and there'd have been less media attention to drive them to buy it in the first place.

So, like everything else it depends. The $1 coin is better to have when casual interest just wants to buy the cheapest thing and don't care or know what they're doing.
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12-11-2017 , 05:03 PM
Thank you all who contributed to my question regarding coin pricing. Truly informative read. You guys are so helpful.

Last edited by jimmyb23; 12-11-2017 at 05:09 PM.
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12-11-2017 , 07:12 PM
etherdelta - anyone else having trouble understanding how to use this piece of ****?
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12-11-2017 , 07:53 PM
Fyi for IOTA hodlers on binance. Withdrawals have been enabled in the last few hours at some point. Finally got my coins off the exchange and into my wallet after being held hostage for over a week.
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12-11-2017 , 10:26 PM
Quote:
Originally Posted by Go Get It
Sooooo I take my own advice and go to extend my litecoin position have to wait 4 days to get money on gdax........... ****ing goes up by 50% in the mean time.......fml
Litecoin has literally doubled since I posted this...............
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12-11-2017 , 10:29 PM
Litecoin cray cray today....dude on Reddit brag post this morning about how he sold off what he bought at $3.86. Had he waiting 11 hours, could have made another $65k.
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12-11-2017 , 10:31 PM
Quote:
Originally Posted by Hey_Porter
Litecoin cray cray today....dude on Reddit brag post this morning about how he sold off what he bought at $3.86. Had he waiting 11 hours, could have made another $65k.
I'm one of the dumbasses who sold at 200 expecting a correction... So dumb.
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12-11-2017 , 10:35 PM
Quote:
Originally Posted by tgiggity
I'm one of the dumbasses who sold at 200 expecting a correction... So dumb.
The way this all runs, there's gonna be tons and tons of "bad beat" stories.....I set up absolutely everything I needed to fund BTC back in May to play online poker, but got lazy and didn't fund. This time, friend got in on Litecoin at $97 a few days ago and I literally took a nap then forgot....still in at $147. Choo choo.....
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