Crypto Currency Thread

[Shuvi McTupya]

skinnyman said:

Not to mention you'll generally get a better price (when selling) on local bitcoins than via coinbase/Gdax, and instant bank transfer.

I have no experience of doing that, do you have to send bitcoin to your wallet, and then pay more fees to send it to the buyer or can you just send it straight from the exchange and only pay once?

[DanGPR]

Shuvi McTupya said:

I have no experience of doing that, do you have to send bitcoin to your wallet, and then pay more fees to send it to the buyer or can you just send it straight from the exchange and only pay once?

I don't see why you couldn't send it directly from the exchange to the recipient. The only thing is, most exchanges don't give you any control of the tx fee so you're slightly at their mercy.

[Shuvi McTupya]

DanGPR said:

I don't see why you couldn't send it directly from the exchange to the recipient. The only thing is, most exchanges don't give you any control of the tx fee so you're slightly at their mercy.

I would have to send it from the exchange to my wallet anyway though, so either way I have to pay the exchanges fees.

[Shuvi McTupya]

Can someone please tell me if my current thought process sounds logical?

I am currently all in Alts and obviously have been taking a hit over the last few days.

I am thinking that maybe I should sell everything back to BTC (or ETH?) as that is going to have to recover before the Alts do, and generally when BTC is going up, Alts will suffer even more.

Then I can buy back my Alts after the storm when BTC (or ETH) has recovered a bit.

Or am I completely misreading the situation?

Edited by Shuvi McTupya on Wednesday 17th January 18:52

[g4ry13]

Shuvi McTupya said:

Can someone please tell me if my current thought process sounds logical?

I am currently all in Alts and obviously have been taking a hit over the last few days.

I am thinking that maybe I should sell everything back to BTC (or ETH?) as that is going to have to recover before the Alts do, and generally when BTC is going up, Alts will suffer even more.

Then I can buy back my Alts after the storm after BTC (or ETH) has recovered a bit.

Or am I completely misreading the situation?

In my opinion you are misreading it. Also some of the alts lost correlation to Bitcoin and far outperformed it towards the end of the year.

If you look at the charts for BTC, ETH, ETC, LTC, XRP and anything else they all look pretty much identical. I suspect that if/when BTC or ETH start moving up the alts will follow in identical fashion, perhaps even in a more exaggerated way.

[Behemoth]

Shuvi McTupya said:

I would have to send it from the exchange to my wallet anyway though, so either way I have to pay the exchanges fees.

I'd suggest you learn how to use a wallet to keep your own currency. That is the whole point of crypto: remove intermediaries and thus potential points of failure. Getting comfortable with wallets & private keys is a good first step to learning how crypto actually works. And it's a lot more secure.

[Behemoth]

Shuvi McTupya said:

I am thinking that maybe I should sell everything back to BTC (or ETH?) as that is going to have to recover before the Alts do, and generally when BTC is going up, Alts will suffer even more.

That's been the case before. BTC is seen as the safe haven (relatively, of course ). There will naturally be a few outliers & exceptions.

[Shuvi McTupya]

Behemoth said:

I'd suggest you learn how to use a wallet to keep your own currency. That is the whole point of crypto: remove intermediaries and thus potential points of failure. Getting comfortable with wallets & private keys is a good first step to learning how crypto actually works. And it's a lot more secure.

I do have a wallet, but the amounts I am currently playing with it actually isn't much of a risk to keep it on a few different exchanges, plus it makes it much easier to change things on a whim!

Once I am comfortable with my portfolio I will send it all back to cold storage.

[Shuvi McTupya]

g4ry13 said:

In my opinion you are misreading it. Also some of the alts lost correlation to Bitcoin and far outperformed it towards the end of the year.

If you look at the charts for BTC, ETH, ETC, LTC, XRP and anything else they all look pretty much identical. I suspect that if/when BTC or ETH start moving up the alts will follow in identical fashion, perhaps even in a more exaggerated way.

I suppose you could be right!

Cheers.

[Shuvi McTupya]

Behemoth said:

That's been the case before. BTC is seen as the safe haven (relatively, of course ). There will naturally be a few outliers & exceptions.

I have only been messing about with this stuff for a month or so, and in that time period BTC has not been very appealing so I just haven't bothered with it, I came in just about when it totally peaked so I am happy I didn't buy in..

Maybe I will just stick with the selection I have for now and play my hand out..

[g4ry13]

Shuvi McTupya said:

g4ry13 said:

In my opinion you are misreading it. Also some of the alts lost correlation to Bitcoin and far outperformed it towards the end of the year.

If you look at the charts for BTC, ETH, ETC, LTC, XRP and anything else they all look pretty much identical. I suspect that if/when BTC or ETH start moving up the alts will follow in identical fashion, perhaps even in a more exaggerated way.

I suppose you could be right!

Cheers.

Could be wrong too!

Although I must admit I considered picking up some BTC with everything going on lately but in the end decided I still think it's highly flawed and don't like it. I'll be a buyer of some LTC however.

[Behemoth]

g4ry13 said:

in the end decided I still think it's highly flawed and don't like it. I'll be a buyer of some LTC however.

Does not compute

[g4ry13]

Behemoth said:

g4ry13 said:

in the end decided I still think it's highly flawed and don't like it. I'll be a buyer of some LTC however.

Does not compute

LTC is far more adaptable than BTC. Also faster and at least there is some consensus and not forks every other month because the BTC community can't get it together. Not to mention the cost of transactions for BTC.

I know you love your BTC so we'll leave it at that.

[HannsG]

TRX up nearly 30%. Last night's hunch paid off and glad I purchased around 2.5k worth

[Behemoth]

g4ry13 said:

LTC is far more adaptable than BTC. Also faster and at least there is some consensus and not forks every other month because the BTC community can't get it together. Not to mention the cost of transactions for BTC.

I know you love your BTC so we'll leave it at that.

Not at all, I have a lot of time for LTC but fail to see the investment argument given that it simply a clone of BTC with zero development behind it. Anyone creating a copy of something does so because the original has value. BTC forks show strength, not weakness. Some want to capitalise on its development to date by taking BTC's open source code and adding their own ideas on it. Some of these ideas have a lot of merit, many don't. Other teams just want to monetise the free brand equity that's there for the asking. I disagree with that, but it's a free world. Nobody is forking LTC simply because there is little of value to fork.

Transaction speed & cost for LTC are very useful attributes and I've used LTC myself precisely for this, but they are transient and not part of any long term LTC value proposition. I wouldn't agree that LTC is far more adaptable. Do you mean it's often used as a testbed for technology? Yes, that's true and it's a great feature of LTC and is why I appreciate its existence. But a testbed is just that. Those prototypes get moved into the mainstream, they don't stay as tests.

[HannsG]

Can someone please explain to me why in Binance my portfolio value of TRX is lower than that on here? I have 60,639 coins. That multiplied by the USD rate should equal your portfolio value right? Yet on Binnace my estimated $ value is much lower.

I think I need to start teaching in BTC rather than USD. It just confuses matters..

Edited by HannsG on Wednesday 17th January 20:54

[andy ted]

Behemoth said:

Shuvi McTupya said:

I am thinking that maybe I should sell everything back to BTC (or ETH?) as that is going to have to recover before the Alts do, and generally when BTC is going up, Alts will suffer even more.

That's been the case before. BTC is seen as the safe haven (relatively, of course ). There will naturally be a few outliers & exceptions.

Safe haven or everyone having to get out of alts via bitcoins?

[Supernova190188]

Can anybody help me?
My wife has recently got into this whole crypto currency using coinbase which after reading about it seems to be a bit st, she has a few hundred stuck in a gbp wallet on there and there seems to be no way of getting the money out? It can't be exchanged for EUR or used to buy crypto, is there any way to easily get this money out of the GBP wallet?
Appears that a lot of people have issues when trying to send to a UK bank via coinbase. Any help will be very much appreciated. Thanks.

[ADEuk]

Buy BTC from GBP wallet, sell back to Euro then SEPA the euro from coinbase to your Already Verified UK account

Edited by ADEuk on Wednesday 17th January 20:56

[Luke.]

Supernova190188 said:

Can anybody help me?
My wife has recently got into this whole crypto currency using coinbase which after reading about it seems to be a bit st, she has a few hundred stuck in a gbp wallet on there and there seems to be no way of getting the money out? It can't be exchanged for EUR or used to buy crypto, is there any way to easily get this money out of the GBP wallet?
Appears that a lot of people have issues when trying to send to a UK bank via coinbase. Any help will be very much appreciated. Thanks.

What he said. I haven't tried to take any out yet, but hearing bad things.