Crypto Currency Thread (Vol.2)
Discussion
I remember the XRP pump a few months back which they pushed on Reddit.
When pump time came it dumped hard
Everyone got their positions in a long time before the pump time and then ran for the exits.
This is from the Discord - of course they don't want the stupid money to sell and take profit:
Some basic tips on buying and selling during a pump:
2. After buying the given coin, do not sell 100% of the given coin at once, slowly sell (25% at a time). Which causes the market not to instantly drop.
3: DO NOT PANIC SELL. We have seen in the past that a lot of people will panic sell when they're down on their initial investment. Just know pumps come in waves so there should be plenty of times within the pump that you will be able to sell with profit so do not panic.
When pump time came it dumped hard
Everyone got their positions in a long time before the pump time and then ran for the exits.
This is from the Discord - of course they don't want the stupid money to sell and take profit:
Some basic tips on buying and selling during a pump:
2. After buying the given coin, do not sell 100% of the given coin at once, slowly sell (25% at a time). Which causes the market not to instantly drop.
3: DO NOT PANIC SELL. We have seen in the past that a lot of people will panic sell when they're down on their initial investment. Just know pumps come in waves so there should be plenty of times within the pump that you will be able to sell with profit so do not panic.
Edited by g4ry13 on Saturday 17th April 20:10
It only broke £200 again last week.Newbie here in the crypto world, I punted £1k on Tezos a month ago, via Revolut. It was just for a bit of fun but I see today my holding is worth £1400 so not too shabby.
Coupla Qs to the wise sages on here, assuming I wanted to stick more money into crypto
1. Should I stay with Revolut (simple, appears safe)?
2. XTZ is one of the smaller cap cryptos, would I be wise to spread the risk (LOL) by going for a larger cap product?
Coupla Qs to the wise sages on here, assuming I wanted to stick more money into crypto
1. Should I stay with Revolut (simple, appears safe)?
2. XTZ is one of the smaller cap cryptos, would I be wise to spread the risk (LOL) by going for a larger cap product?
jammy-git said:
g4ry13 said:
General opinion is that it is prudent to move your crypto into a wallet away from the Exchange in case anything happens / they get hacked / pull a scam etc.
I was always very hesitant to leave funds on Kraken and moved them into a hardware wallet. Saying that, I have been a bit more relaxed about it and left sizeable amounts on the exchange recently. Binance is pretty reputable so they probably aren't going to pull an Mt. Gox / Exit scam and disappear with your money.
But if you have no intention to trade on a regular basis and would like to hold the crypto, it would be sensible to move them to a secure wallet.
Coinbase and Binance are now billion dollar companies. A wide scale hack like Mt Gox would be company ending. I'm as confident in Binance as I am in some banks!I was always very hesitant to leave funds on Kraken and moved them into a hardware wallet. Saying that, I have been a bit more relaxed about it and left sizeable amounts on the exchange recently. Binance is pretty reputable so they probably aren't going to pull an Mt. Gox / Exit scam and disappear with your money.
But if you have no intention to trade on a regular basis and would like to hold the crypto, it would be sensible to move them to a secure wallet.
People are getting too complacent with exchanges and non-exchanges like Revolut. Mt Gox was the biggest BTC exchange at the time. I'm just wondering what are going to do if/when you get locked out of your accounts one day? Are you going to get on the phone to them and demand answers? Good luck finding a number with a live person on the end of it! Are you going to write them a strongly worded letter? Good luck finding an address for Coinbase.
The reality is that if they decide to lock you out of your account one day or prevent you from making a withdrawal, either in fiat or crypto, there is absolutely nothing you can do about it and for all intents and purposes your crypto and your money is gone. Both Coinbase and Binance have form for it along with all the other exchanges. The pages and pages of "x have locked me out of my account/stolen my money" on their respective reddits are not an illusion.
If you think that your money is safe in your wallets on crytpo exchanges because they are "now billion dollar companies" you are deluded, sorry. The crypto space will always be the wild west and if you don't treat it as such one day you'll get burnt.
NYKNYC. Not Your Keys = Not Your Coins.
True, but there are plenty of similar stories about PayPal! In fact I semi-regularly here similar things happening with regular banks, though at least there is an ombudsman you can go to eventually, but that doesn't help you without funds in the meantime.
Maybe if I was dealing with 5 or 6 figures I'd be a little more cautious, but the reality is I'm FAR more likely to lose it all due to my own sheer incompetence at trading than from a hack or the exchange playing silly buggers.
Maybe if I was dealing with 5 or 6 figures I'd be a little more cautious, but the reality is I'm FAR more likely to lose it all due to my own sheer incompetence at trading than from a hack or the exchange playing silly buggers.
Looks like a bit of a tree shake going on, next 72 hours should be interesting as $7.6 billion in crypto long positions have been liquidated this morning as bitcoin's price plunged to $52,000.
Bitcoin's price began to trend downwards early Saturday, but the steep plunge began around 4am on Sunday.
Bitcoin's price dropped by more than 10% over the hour, from $58,000 to below $52,000, during which around $4.3 billion in bitcoin long positions were liquidated.
As of the time of writing, bitcoin's price has bounced back to around $55,000.
Overall, $9.2 billion in crypto long positions have been liquidated in the last 24 hours.
https://cointelegraph.com/news/bitcoin-dips-under-...
https://www.bybt.com/LiquidationData
Bitcoin's price began to trend downwards early Saturday, but the steep plunge began around 4am on Sunday.
Bitcoin's price dropped by more than 10% over the hour, from $58,000 to below $52,000, during which around $4.3 billion in bitcoin long positions were liquidated.
As of the time of writing, bitcoin's price has bounced back to around $55,000.
Overall, $9.2 billion in crypto long positions have been liquidated in the last 24 hours.
https://cointelegraph.com/news/bitcoin-dips-under-...
https://www.bybt.com/LiquidationData
Edited by tescorank on Sunday 18th April 08:16
jammy-git said:
Was there any particular reason for the mass sell off? Everything other than NANO that I'm tracking all did the same!
It does look as if there is more than an element of "co-ordination" in the price drops. The thing I can't get my head around is how, as you say, almost all coins have dropped, by up to 20%, in an identical timeframe.CzechItOut said:
It does look as if there is more than an element of "co-ordination" in the price drops. The thing I can't get my head around is how, as you say, almost all coins have dropped, by up to 20%, in an identical timeframe.
Because no matter what anybody says on here, BTC is always tied to the very vast majority of coins, it always has and at the momment always will. Coins don't go 1000% of their own, they do so after BTC has risen, it has always cast a shadow on the whole market. 20% drop means billions profits, they aren't stupid are they, everyone always cashes out to USD.on the up exchanges make billions, on the down they do the same.
Edited by anonymous-user on Sunday 18th April 11:29
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