Topic: Bitcoin and Cryptocurrency

[thejbs]

for anyone interested in doing a bit more custom price analysis, analysing trends etc.

I've been playing with a google sheets add-on that queries exchanges (93 currently) and returns a handful of bits of data. Very easy to use if you're spreadsheet savvy.

the how-to:
https://jbuty.com/how-to-get-crypto-currencies-rates-and-more-in-google-sheet-1a57e571bc14

...and the add-on:
https://chrome.google.com/webstore/detail/cryptofinance/bhjnahcnhemcnnenhgbmmdapapblnlcn?hl=en

I don't put my holdings in there (it is google, after all!) but am using it to track potential coins, and playing around with generating simple buy signals etc.

Nice one! Thanks!

[Not that Gareth]

All down to coinbase.  A quarter of the volume is GDAX USD pairing which would suggest a lot of new money coming in.

Pretty much everyone I know that has recently started buying crypto has joined coinbase as a starting point. 90% of them made LTC their first purchase as it's the cheapest coin.  A few of them didn't realise you could buy fractions of coins so just bought LTC.  The price increases will likely push the LTC hype further as it really was undervalued compared to other alts and BTC.

Market cap for LTC is still only a fraction of BTC and ETH which is startling for such an easily accessible buy.

Yeah I was looking at that before, the boost in LTC seems to be fresh cash coming into the market and it is probably not a coincidence that LTC stopped rising when coinbase crashed, again. Edit: Bitfinex also under DDOS attack so that probably didn't help.

I'm not really trader and more into the tech/application side of crypto but with the price difference between GDAX and other exchanges so extreme could you not arbitrage this?

[thejbs]

Yeah I was looking at that before, the boost in LTC seems to be fresh cash coming into the market and it is probably not a coincidence that LTC stopped rising when coinbase crashed, again. Edit: Bitfinex also under DDOS attack so that probably didn't help.

I'm not really trader and more into the tech/application side of crypto but with the price difference between GDAX and other exchanges so extreme could you not arbitrage this?

Maybe if your transactions go through quickly enough, yeah. I'm sure some people are doing that.

[Yanwoo]

I'm not really trader and more into the tech/application side of crypto but with the price difference between GDAX and other exchanges so extreme could you not arbitrage this?

The (slight) irony: you can't really move money around fast or reliably enough! Also: fees can quickly swallow gains. To make it worthwhile you'd need do it with big #s and that brings more risk (liquidity etc.)

Saying that, I have little doubt some are doing it.

[PhilV]

I wanna buy Litecoin so just installed that Coinbase but it's crashed atm. I need to get in on this, I know it's very volatile but the high reward goes hand in hand with high risk!

[killer-heels]

hahaha. As they say, better to be lucky than good.

Are you going to cash some in?

Yeah i will sell some (once that coinbase app starts working).

[thelinnen]

I might move on Litecoin, the Bitcoin ship has sailed but I can afford to take a hit on £280, right now anyway. It might go up again before my Euros get to GDAX 

[Antoine Lavoisier]

I still haven't got a fucking clue whats going on here!

But if anyone is interested I have this extremely rare currency, only just discovered, called Scouser Coin (SRC) Basically it's running at $1 - S0.10. And I'm looking to offload for S1000 for $1000 a pop. An incredible offer that must end soon.

Cheers.

[Zend...en the clowns]

I still haven't got a fucking clue whats going on here!

But if anyone is interested I have this extremely rare currency, only just discovered, called Scouser Coin (SRC) Basically it's running at $1 - S0.10. And I'm looking to offload for S1000 for $1000 a pop. An incredible offer that must end soon.

Cheers.

If you're interested mate there's an absolutely brilliant book by that will go a long way to explaining what's happened and what could happen, and what might not happen ha

https://www.waterstones.com/book/cryptocurrency/paul-vigna/michael-j-casey/9781784700737

[Ekul]

Nice!

Thing is: there's dozens of coins technically 'better' than bitcoin as a medium of exchange; aka faster and cheaper (theoretically, at least, until they've scaled as big as bitcoin is, we won't know for sure).

Litecoin seems like a pretty good bet of the slightly more mature ones.

I reckon a monkey throwing ten darts at a board of the top 100 coins and HODL will probably outperform most of us over the next 3 to 5 years...

Haha that's why I'm trying to get a little into as many random ones as I can! Maybe I'll hit one of the ones that makes a 40,000% increase. (Like a dollar or two here and there).


Just for perspective:

Since bitcoin was first on an exchange when it was worth $0.003, it has grown approximately 533333233%. Dear god in heaven that's just absurd.

[Yanwoo]

Haha that's why I'm trying to get a little into as many random ones as I can! Maybe I'll hit one of the ones that makes a 40,000% increase. (Like a dollar or two here and there).


Just for perspective:

Since bitcoin was first on an exchange when it was worth $0.003, it has grown approximately 533333233%. Dear god in heaven that's just absurd.

It is astonishing! Hard to comprehend really.

I see XRP (ripple) has had a moment: just doubled overnight. Now bigger market cap than litecoin! Has been bouncing around between 20 and 30 cents for months, whilst others have exploded, I think quite a few people lost faith and bailed. Brutal!

[red_lfc_costello]

It is astonishing! Hard to comprehend really.

I see XRP (ripple) has had a moment: just doubled overnight. Now bigger market cap than litecoin! Has been bouncing around between 20 and 30 cents for months, whilst others have exploded, I think quite a few people lost faith and bailed. Brutal!

heard bits about ripple when I first invested a couple of weeks ago but couldn't find a straight forward way of buying some (using coinbase at the moment)

[Rhi]

Actually tried to buy some Ripple yesterday evening but got tired and left it til today

[Yanwoo]

heard bits about ripple when I first invested a couple of weeks ago but couldn't find a straight forward way of buying some (using coinbase at the moment)

yeah, the exchanges thing is a pain in the ass. I've got a handful of accounts which I really don't like having, it just adds complexity and scope for making mistakes plus more exchange risk, but if you want a coin you have to go where the action is.

here's all the exchanges ripple is listed on: https://coinmarketcap.com/currencies/ripple/#markets

I've been looking to get into XRB (raiblocks), but it's only listed on two tiny exchanges (with any volume, anyway), both of which were down yesterday with DDoS and/or being hacked...eek! (just checked: both still down). I might draw the line here and wait until it's on some more mainstream exchanges.

Thing is: navigating the complexity and risk for these smaller coins can potentially be rewarded - as it probably keeps buyers away - so if it gains traction and is added to a bigger exchange, gets a better wallet etc you'd think there's some extra upside to be had. Horses for courses!

[Yanwoo]

Actually tried to buy some Ripple yesterday evening but got tired and left it til today

Good news: lots more opportunities (probably)!

[aaronaldo]

Any good alternatives to coinbase? tried to buy some LTC but high traffic and verification process is down

[Salger]

Any good alternatives to coinbase? tried to buy some LTC but high traffic and verification process is down

Been trying to register with Coinbase for 24 hours now and it's been down the whole time. All us newbies trying to get on the train!

[LovelyCushionedHeader]

Put a grand into XRP at $0.24. Now up above $0.50.

No point selling though. The upside of buying something so low could be an absolutely life changing amount of money, no matter how unlikely that is.

[mrchimps]

Any good alternatives to coinbase? tried to buy some LTC but high traffic and verification process is down

They had same message on Friday when I signed up, only took an hour to verify though.

[Yanwoo]

Put a grand into XRP at $0.24. Now up above $0.50.

No point selling though. The upside of buying something so low could be an absolutely life changing amount of money, no matter how unlikely that is.

Nice! I got in at $0.22, and same: this is a keeper for me, not really interested in some short term 2x (or 5x etc).

[mrchimps]

Put a grand into XRP at $0.24. Now up above $0.50.

No point selling though. The upside of buying something so low could be an absolutely life changing amount of money, no matter how unlikely that is.

What exchange did you use for XRP mate? Was looking at Kraken but seems its US only?

[LovelyCushionedHeader]

What exchange did you use for XRP mate? Was looking at Kraken but seems its US only?

Combination of BitTrex using bitcoin profits and eToro.

[Yanwoo]

What exchange did you use for XRP mate? Was looking at Kraken but seems its US only?

you can use bitstamp or bitfinex or binance (if you need to go through verification, all of them I think are backlogged and taking quite a while)

[Yanwoo]

What exchange did you use for XRP mate? Was looking at Kraken but seems its US only?

You can avoid verification by buying etherum or bitcoin and transferring into one of these exchanges; from somewhere like https://bittylicious.com (although some limits until you do a few things like add your bank account) or https://changelly.com.

Also: watch rates and fees very closely, can be easy to take unnecessary hits.

[mrchimps]

You can avoid verification by buying etherum or bitcoin and transferring into one of these exchanges; from somewhere like https://bittylicious.com (although some limits until you do a few things like add your bank account) or https://changelly.com.

Also: watch rates and fees very closely, can be easy to take unnecessary hits.

cheers

[Inpeace]

Any one notice the huge price difference of ETH on coinbase and kraken?

Is it not a huge arbitrage opportunity?

[ChrisOH]

Mates been banging on about Ripple for 4 days now, which seems like a lifetime in this  Feels like I've already missed the boat on it. He's roughly doubled his money.

Who actually spends all these cryptocurrenices? Apart from BTC obviously.

From the 24 hours since I've discovered this thread, Waves seems the most appealing to me as a long term investment. With that in mind, I can't really say why apart from they seem to be aiming big and already have a nice interface/logo... and the name rolls of the tongue easier that some others. #trader.

[Broad Spectrum]

Been trying to verify my accounts on Coinbase and Bitstamp since yesterday!

[Inpeace]

Been trying to verify my accounts on Coinbase and Bitstamp since yesterday!

took me two - three weeks in May for both Coinbase and Kraken.

[LovelyCushionedHeader]

Mates been banging on about Ripple for 4 days now, which seems like a lifetime in this  Feels like I've already missed the boat on it. He's roughly doubled his money.

Who actually spends all these cryptocurrenices? Apart from BTC obviously.

From the 24 hours since I've discovered this thread, Waves seems the most appealing to me as a long term investment. With that in mind, I can't really say why apart from they seem to be aiming big and already have a nice interface/logo... and the name rolls of the tongue easier that some others. #trader.

With Ripples price at $0.50 I wouldn’t say you’ve missed the boat. It doesn’t need to grow much at all in monetary terms for you to make a killing.

I think the key with all crypto’s is to only risk money you can afford to lose and be prepared to hold for a long time. It’s very possible given how the market fluctuates that you could be in the red straight away, but don’t panic. Also don’t be too quick to sell as soon as you get in the green because once it starts to rise there really is no telling as to when it will stop.

[Prelude no.5]

With Ripples price at $0.50 I wouldn’t say you’ve missed the boat. It doesn’t need to grow much at all in monetary terms for you to make a killing.

I think the key with all crypto’s is to only risk money you can afford to lose and be prepared to hold for a long time. It’s very possible given how the market fluctuates that you could be in the red straight away, but don’t panic. Also don’t be too quick to sell as soon as you get in the green because once it starts to rise there really is no telling as to when it will stop.

Good advice. Coinmarketcap is riddled with coins that are growing exponentially making 400% returns in a week. Who would dream of that in the stock market?

At the moment even a monkey throwing money about would make a killing. Sure there's hysteria at the moment but we've only just begun I think. 2018, will be the year of Crypto.

[thelinnen]

Bitcoin is obviously the spearhead of the cryptocurrency revolution right now but I think some other alts might experience a bubble off the back of it. If people start investing thinking Etherium, Litecoin or Ripple will boom like Bitcoin then it'll become a self-fulfilling prophecy.

Just signed up to Bitfinex to get in on Ripple whilst it's still relatively worthless, think I'll have to get a Ledger.

[Not that Gareth]

Good advice. Coinmarketcap is riddled with coins that are growing exponentially making 400% returns in a week. Who would dream of that in the stock market?

Just opened Liqui for the first time in a few weeks and I have randomly been airdropped 500 Tronix which has risen nearly 30% in the last 24hrs, it is now worth 0.008cent!

I've no idea what it is, I will add it to the pile of shitcoins I have on MEW. This kinda plays to your point, there is an awful lot of shit in this space that whales manipulate.

[Red Viper]

I've just dipped my toe in and bought some Ripple on Binance. Not spent anything I'm going to miss if it goes tits up so will just see what happens over the next couple of weeks.

[Broad Spectrum]

I've just dipped my toe in and bought some Ripple on Binance. Not spent anything I'm going to miss if it goes tits up so will just see what happens over the next couple of weeks.

Do you have to use Bitcoin to purchase on there, or can you use debit/credit card like on Coinbase etc.?

[Red Viper]

Do you have to use Bitcoin to purchase on there, or can you use debit/credit card like on Coinbase etc.?

You have to use Bitcoin.

[Broad Spectrum]

You have to use Bitcoin.

Ok thought so thanks.

[thelinnen]

150 Ripples deep. Go on lads 

Even if it goes back to 0.25 and stays there forever I'll still only be losing about £25. I can live with that.

[surfer. Fuck you generator.]

Good advice. Coinmarketcap is riddled with coins that are growing exponentially making 400% returns in a week. Who would dream of that in the stock market?

At the moment even a monkey throwing money about would make a killing. Sure there's hysteria at the moment but we've only just begun I think. 2018, will be the year of Crypto.

What exactly does that mean, though, year of the crypto?

Coins becoming more valuable as people pile in? Sure, that could happen for a time. You line up a few pieces of shit and get a betting exchange going, crowd mechanics takes over, you can make money there too. Crowd psychology is a phenomenon fairly independent of the underlying if the crowd are mostly novices. The skilled traders will make money trading stones, shit, coins or traditional instruments. The big boys have the money and the tools for arbitrage and market manipulation. The newbies will arrive last and get hit first.

This is not new. What I'm interested in knowing is what exactly is crypto going to revolutionise, from there you can start figuring out value. As mostly non specialists on here, sure we read about blockchain tech, smart contracts, new apps, it's certainly heading away from being a global hassle free currency so you'll have to scratch that out, for now, but at the end of the day even the most outlandish dream for the new tech does nothing for me. This is not the advent of the Internet level epic imo, not the dot com revolution. What is 'new' here? More efficient - possibly. 'Safer' contracts? You'll have to put that in the wait and see tray, till a few solid years of big block chain based contracts getting stress test hacked and holding up.

If anything, I find biotech so much more fascinating, talk of the tools for gene splicing, medical mods. You can see a whole new frontier there - this one, if by the age of crypto you mean a period of money making opportunity  go for it, but as a tech, it's a bit meh. When the dust settles, the substance of its contribution is what will play the main role in its pricing.

[Yanwoo]

Days like this important to keep the tinder dry; they'll be plenty more opportunities to buy in the dips. Recently, (in 'normal' conditions) pattern of most coins drop 20% to 25% off their peaks - especially when they've peaked aggressively. Don't let FOMO take over!

Normally for long term hold, entry points don't matter much, but with so much volatility you can have 20%, 30%, 40% more or less coin in your pocket - not trivial!


Is going to be interesting to see prices and volumes over xmas and into the new year; if volumes drop be a little bit extra skeptical about prices.