Crypto Currency Thread

[Ted2]

Matt.. said:

What's the recommend way of purchasing crypto currency at the moment? (eg. XRP).

Why do so many of these places (eg. Bitstamp) require personal documents for verification? It seems excessive, and risky?

Edited by Matt.. on Sunday 19th November 17:09

KYC arse covering.

Buying off the radar means you pay a premium, to a greater or lesser extent depending on which platform you use.

[limpsfield]

New all time highs for the Bitcoin bubble tonight.

[g4ry13]

I notice some of these exchanges eg. Kraken offer margin trading and the ability to use leverage.

I 'verified' my account which involved typing in a name, address and I think telephone number - I was verified within minutes to do margin trading.

What is there to stop me from creating an account, depositing some bitcoin/crypto currency from somewhere, register account with fake credentials and then taking a large position? If it goes tits up, what can they really do? If it goes well, then obviously transfer coins to wallet and cash out on different exchange?

[Ted2]

g4ry13 said:

I notice some of these exchanges eg. Kraken offer margin trading and the ability to use leverage.

I 'verified' my account which involved typing in a name, address and I think telephone number - I was verified within minutes to do margin trading.

What is there to stop me from creating an account, depositing some bitcoin/crypto currency from somewhere, register account with fake credentials and then taking a large position? If it goes tits up, what can they really do? If it goes well, then obviously transfer coins to wallet and cash out on different exchange?

Kraken and others have different tiers of verification that go up to tier 3 or 4 iirc. To do anything useful you'll need to send them your DL or PP.

[anonymous-user]

the way it works is if it goes down slightly they liquidate you whole investment, and in such a volatile markets, i would only recommend experts trying to margin trade.

when i was on poloniex in march someone lost 100k on a margin account, it was at the time when polo used to freeze and weird selling patterns. polo liquidated everything. you gain leverage but at the same time you whole stake is accountable.

Edited by The Spruce goose on Sunday 19th November 23:56

[Behemoth]

Here's a handy summary of the top 100 cryptos (by claimed market cap, which is a metric full of dodgy irregularities).

https://techcrunch.com/2017/11/19/100-cryptocurren...

[anonymous-user]

Behemoth said:

Here's a handy summary of the top 100 cryptos (by claimed market cap, which is a metric full of dodgy irregularities).

https://techcrunch.com/2017/11/19/100-cryptocurren...

i expect more from you the thing is full of mistakes. For example bitcoin dark is a clone of zcoin, when zcoin came after bitcoindark.

bytecoin was at one point no being used and just mined before a massive pump.

[Behemoth]

The Spruce goose said:

i expect more from you the thing is full of mistakes. For example bitcoin dark is a clone of zcoin, when zcoin came after bitcoindark.

bytecoin was at one point no being used and just mined before a massive pump.

I didn't write it. I thought it a good effort & certainly contains more info than my brain can retain. If you can do better, by all means publish v0.2

[anonymous-user]

Any article that calls bitcoin gold should be shot, but it a good effort at least.

i hate the clone term it is like saying Porsche is a clone of VW they are distinctly differently but birthed from a similar point.

[x5x3]

The Spruce goose said:

Any article that calls bitcoin gold should be shot, but it a good effort at least.

i hate the clone term it is like saying Porsche is a clone of VW they are distinctly differently but birthed from a similar point.

I think you'll find they are in fact cloned from the bitcoin repo on GitHub - copy and paste - then global search and replace bitcoin to "yourcoin".

[Vyse]

POWR and SLR duking it out nicely tonight, wonder who PBC will choose.

[Croutons]

For various reasons I need to re-sign with some exchanges.

Please post up (or feel free to pm me) with your referral links.

Naturally I'll only be able to use one per exchange, and won't guarantee I'll use all (or indeed any) of them.

But if both you and I can claim free phantom money, it would be daft not to.

[g4ry13]

Is anyone involved with Bitconnect? It has scam written all over it as far as I can see.

[Behemoth]

g4ry13 said:

Is anyone involved with Bitconnect? It has scam written all over it as far as I can see.

You see very well. It is a classic Ponzi. First of very many widely marketed large scale snake oil merchants you will see for a long time to come in this space.

[M511]

Has anyone had any success with ICOs? I made a couple of grand on the Ripple one but I wish I put more in, there are a lot out there but I cant find any I feel confident in investing.

Is there a way to weed out the scams from the potential?

[jonm01]

Behemoth said:

You see very well. It is a classic Ponzi. First of very many widely marketed large scale snake oil merchants you will see for a long time to come in this space.

There's a guy called Ryan HIldreth who seemingly does daily videos about how much he's making on there. 90% of the comments look like a bot army praising him and saying they are going to invest too. Shows something like 100k in referral 'bonuses' but I'd like to see him try and remove that money..

[anonymous-user]

Whats everyone's predictions for 2018?

[Vyse]

Look for ICO that have working products and have a few years of activity prior to the ICO. Case in point POWR, I have a low price albeit small position at the moment.

M511 said:

Has anyone had any success with ICOs? I made a couple of grand on the Ripple one but I wish I put more in, there are a lot out there but I cant find any I feel confident in investing.

Is there a way to weed out the scams from the potential?

[x5x3]

The Spruce goose said:

Whats everyone's predictions for 2018?

£50K

[anonymous-user]

x5x3 said:

£50K

50k what btc? in usd?