Discussion
Behemoth said:
Good question; usually there's a bit of an inverse correlation between BTC & ETH but not this week. It's entirely speculation, of that there's no doubt.
Probably partly looking for an alternative to BTC for dirty cash as BTC legitimises and partly a bullish sentiment for all leading crypto as the media noise hit peaks and thus new speculators joined without deep technical knowledge. It takes ~ 1 week for fiat cash to reach a crypto exchange, so maybe these newbies were scared off BTC & headed straight for the alt market instead.
cheers the one thing i have noticed is the price volatility of the exchanges, which is becasue they charge so little per transaction, which leads more people to swap and change in some coins, a lot of pump and dumps.Probably partly looking for an alternative to BTC for dirty cash as BTC legitimises and partly a bullish sentiment for all leading crypto as the media noise hit peaks and thus new speculators joined without deep technical knowledge. It takes ~ 1 week for fiat cash to reach a crypto exchange, so maybe these newbies were scared off BTC & headed straight for the alt market instead.
depends how much you have but loads of hardware wallets.
I have to say the whole market is crazy, nearly 5 days of solid big gains across the board. I would say lots of people are making money.
I have spent a bit on some cloud mining as a punt. My investment is about 15% up so not bad but missed all the massive gains. I do have some shadow cash which is hoping to reap some rewards after an announcement on Friday. It can't be long before the whole thing goes mainstream.
ethereum went up 30% in one day, that is nearly 200 million usd volume. (I would rate it as one of the most safest stable ones out there)
I have to say the whole market is crazy, nearly 5 days of solid big gains across the board. I would say lots of people are making money.
I have spent a bit on some cloud mining as a punt. My investment is about 15% up so not bad but missed all the massive gains. I do have some shadow cash which is hoping to reap some rewards after an announcement on Friday. It can't be long before the whole thing goes mainstream.
ethereum went up 30% in one day, that is nearly 200 million usd volume. (I would rate it as one of the most safest stable ones out there)
so far I have been carful main up my initial loss, bought some cloud mining and a ICO, and around 50% up on initial investment. Once that is done will leave the market for a bit as it is too hot, I can see a lot of money being pulled out, as I think most have only come to make money not actually use it.(which Ethereum is pretty good and easy to use)
[quote=Behemoth]
Ether is not used anywhere as either currency or as a contractual conduit. You can't buy anything at all with it. It is entirely speculative at this stage.
quote]
I think you are wrong it was never made for a currency (recognized stores of value and are traded between nations in foreign exchange markets) but is/become one.
I know about the ethereum project is, and it is interesting, but the current spike mean that even though it not make to be a curacy or asset it may end up becoming one because the of the current market position. the sudden jump in price will bring bitcoin type projects to ethereum.
Ether is not used anywhere as either currency or as a contractual conduit. You can't buy anything at all with it. It is entirely speculative at this stage.quote]
I think you are wrong it was never made for a currency (recognized stores of value and are traded between nations in foreign exchange markets) but is/become one.
I know about the ethereum project is, and it is interesting, but the current spike mean that even though it not make to be a curacy or asset it may end up becoming one because the of the current market position. the sudden jump in price will bring bitcoin type projects to ethereum.
Edited by The Spruce goose on Friday 17th March 03:27
well my profit went in a flash plus some losses. I had 'invested' in Shadow Cash which I got sucked into the hype, and after the announcement the price tanked. Ah well, I have decided I am going to invest in mining and play with a little money. but my losses are about 30 quid on initial stake, so not all bad, but including my profit was around 250 quid.
But my DASH mining has paid back 15 quid so far in 2 half days.
if I had just kept my Ether, I would have made a tidy profit with little effort.
But my DASH mining has paid back 15 quid so far in 2 half days.
if I had just kept my Ether, I would have made a tidy profit with little effort.
dtmpower said:
Have put a 5mh/s contract for dash, can i pay it out in bitcoin or am i going to need a dash wallet now ?
yes i downloaded one for windows. you can also change what you mine as x11 can mine different stuff. i worked it out on the DASH mining profitability to see if it works, yes it is slightly cheaper to DIY but genesis have been around 2 years now and worth a risk if you don't want to trade.Safe as houses? Or smoke and mirrors?
"The whole point about Bitcoin being a long term store of value is that there are only 21m coins, ever. Stability, security and scarcity are the differentiation properties of Bitcoin, a contentious Hard Fork attacks these properties and will be strongly reflected in the price. After a Hard Fork, we will be sitting with 33m “Bitcoins”, on track for 42m and we’ll be having arguments about which one is the legitimate Bitcoin for years to come. You can expect legal cases to arise around the use of the brand, as the Ethereum Classic Investment Trust has shown."
"The whole point about Bitcoin being a long term store of value is that there are only 21m coins, ever. Stability, security and scarcity are the differentiation properties of Bitcoin, a contentious Hard Fork attacks these properties and will be strongly reflected in the price. After a Hard Fork, we will be sitting with 33m “Bitcoins”, on track for 42m and we’ll be having arguments about which one is the legitimate Bitcoin for years to come. You can expect legal cases to arise around the use of the brand, as the Ethereum Classic Investment Trust has shown."
Just an update. Lost a bit trying to be a trader.
In the end have invested in cloud mining, a ICO for a online casino with no house edge and some coins, so far my 60 dollars investment in the ico is now worth 240 dollars in 2 weeks.
I have also spent 2k and a bit on a PC to mine alt coins which is more enjoyable for me.
So far quite a bit down but expect in a year to be up hopefully. I am enjoying , one thing is interesting a lot of announcements of big block chain investments, but there own tech.
That is a negative of open source I think in this environment.
In the end have invested in cloud mining, a ICO for a online casino with no house edge and some coins, so far my 60 dollars investment in the ico is now worth 240 dollars in 2 weeks.
I have also spent 2k and a bit on a PC to mine alt coins which is more enjoyable for me.
So far quite a bit down but expect in a year to be up hopefully. I am enjoying , one thing is interesting a lot of announcements of big block chain investments, but there own tech.
That is a negative of open source I think in this environment.
Interesting bitcoins biggest weakness was its script which allowed big companies to take over the large proportion if mining.
Other coins have tried to combat this which helps to spread the decentralisation of ownership out. Bitcoin is very heavily centralised as shown in this hard fork issues which basically defeats the point of its conception.
Other coins have tried to combat this which helps to spread the decentralisation of ownership out. Bitcoin is very heavily centralised as shown in this hard fork issues which basically defeats the point of its conception.
i see some failings with bitcoin that might bite it, the fact it is losing market share at quite a high rate, 25% in 3 months along with the Tether issue may have impact on it.
The biggest problem with this world is how quickly things can change, even the brightest minds can fail to predict.
Bitcoin has some big backers and is solid but how long it remains king will be the question?
The biggest problem with this world is how quickly things can change, even the brightest minds can fail to predict.
Bitcoin has some big backers and is solid but how long it remains king will be the question?
banks don't like transfers?, well i transfer from coinbase to my bank no problems. there are loads of debit cards that can be uploaded with btc as well, or you can but stuff with it. Microsoft take it for one.
i notice the headlines are always about btc, but there are thousands of coins out there , i know 8 at least that have done 5 times value increase in a year.
BTC has it drawbacks for me, i prefer the other coins.
i notice the headlines are always about btc, but there are thousands of coins out there , i know 8 at least that have done 5 times value increase in a year.
BTC has it drawbacks for me, i prefer the other coins.
Edited by The Spruce goose on Tuesday 9th May 23:54
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