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Thread: Bitcoin

  1. #251
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    Quote Originally Posted by JPCain86 View Post
    About £10.

    I am cautious on alt coins at the moment. A lot of them have small market caps which leaves them open to manipulation.

    I also expect alts to take a fall in the next week and BTC to rise. It's a trend I've noticed a few times over the last 6 months.
    What's the correlation between alt coins falling and BTC rising that you've noticed? Genuinely interested in what you may have seen over the years.

  2. #252
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    Quote Originally Posted by JPCain86 View Post
    I know that most people will get this but I will post anyway as a lot of my friends don't.

    Don't pay much attention to the coin value! Look at the market cap. I had a conversation with friend who was saying " Ye but if ethereum goes to the same price as BTC I will have 14 x my money"

    I had to explain that Ethereum was at 25% of BTC value and £2400 each equals BTC.

    Same goes for Ripple. It serious won't go above £5 a coin as there are £38bn of them.
    That's a good way to look at it. There does seem to be a lot of people trying to spot the next BTC, but they seem to ignore that BTC has a limited and much smaller total supply than others.

    It'll be interesting to see what sort of price barriers some of the ones with large supply manage to achieve over the next year. What might you predict for the likes of XRP, IOTA etc given the market cap perspective?

  3. #253
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    Quote Originally Posted by Hewjardon View Post

    Make no mistake, BTC is where it is today through grass roots support. Now, that support and user base is growing exponetially, a tipping point if you like.
    Like Brexit and Trump, this is discontent manifest on a grand scale. Except unlike Brexit and Trump, its global. Millennials (primarily) and the rest of us, have the option to give the 'economic' figure to banks and governments. And it is being seized.

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    Thank you for taking the time to write that reply.

    I've only quoted the above as it resonates with me. I've been consuming as much info as possible on all this as I've suffered with shares that have been devalued to worthless by governments and been screwed over by lying, cheating BODs. I'm no longer naive enough to believe anything is totally immune to manipulation but it seems the reasons many financial institutions are giving to ward folk off BTC are a positive. Many of the articles just seem quite bitter.

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  4. #254
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    Quote Originally Posted by bambam View Post
    What's the correlation between alt coins falling and BTC rising that you've noticed? Genuinely interested in what you may have seen over the years.
    Not over the years more over the last 10 months. Let's be right most alts are under a year old.

    I've just noticed when all alts rise by a similar amount as they have over the last day or so. It usually followed by a rise in BTC.

    I expect a significant BTC increase over the next few days.
    Last edited by JPCain86; 19th December 2017 at 08:22.

  5. #255
    Quote Originally Posted by bambam View Post
    For those that have made the transfer from an exchange to a wallet - how much did the transfer cost?
    Exchanges charge a flat rate for a crypto withdrawal, but it will vary by coin, so best to check the specific exchange/coin you want to withdraw.

  6. #256
    Quote Originally Posted by JPCain86 View Post
    I've just noticed when all alts rise by a similar amount as they have over the last day or so. It usually followed by a rise in BTC.
    I thought it was the opposite, BTC rises followed by the others but certainly it’s often BTC or the ALTs.

  7. #257
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    Could be people see btc has stopped rising so spread their money around which drives alt prices up. Then when that calms down the money returns to btc and it's off again.

    Gdax didn't charge anything to withdraw btc, just have to pay the normal transaction fee.

  8. #258
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    BTC is taking a decent dip today - could well be the start of a larger pull back before $20K resistance is properly tested. If we get to $17k ish I'll be adding to my position.

  9. #259
    So earlier this week I finally waded into crypto - although I'm no newbie, I did a bit of work with ICOs I have been hesitant and a bit busy (should have bought when BTC was $3k...). This flatness and slight dip was a perfect time for jumping in.

    My positions include Monero (XMR), Cardano (AMA), Stellar (XLM) and BTC. I've currently avoided the more mainstream as not too sure about the current spikes - especially Cash.

    I'm also contemplating more BTC - always good to add when it dips a bit.

  10. #260
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    BTC has been up and down like a yoyo this afternoon....maybe it is that resistance kicking in...

    Some of the others have stormed ahead...

  11. #261
    Quote Originally Posted by bambam View Post
    BTC has been up and down like a yoyo this afternoon....maybe it is that resistance kicking in...

    Some of the others have stormed ahead...
    Maybe some pre-xmas jitters, if we stay like this for a few days will be a good time to top up. For my alt currencies i try and measure/track in terms of bitcoin to avoid getting jittery!

  12. #262
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    Quote Originally Posted by crazyp View Post
    Maybe some pre-xmas jitters, if we stay like this for a few days will be a good time to top up. For my alt currencies i try and measure/track in terms of bitcoin to avoid getting jittery!
    Indeed!

    Trying to decide if I should sell my stake in bitcoin and top up my Eth and Ltc with it.

    I don't have big stakes in any of them, but I enjoy playing about.

  13. #263
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    Quote Originally Posted by andyb28 View Post
    Indeed!

    Trying to decide if I should sell my stake in bitcoin and top up my Eth and Ltc with it.

    I don't have big stakes in any of them, but I enjoy playing about.
    I must concede I put 50% of my BTC holding into ETH & LTC at midday today. I just 'feel' its a better direction right now. Based on the limitations of BTC and the fact it will take billions to get a few percent on it when the others have less inertia.

  14. #264
    Quote Originally Posted by TimeThoughts View Post
    I must concede I put 50% of my BTC holding into ETH & LTC at midday today. I just 'feel' its a better direction right now. Based on the limitations of BTC and the fact it will take billions to get a few percent on it when the others have less inertia.
    it won't really, only a fraction of the total are available to trade at any moment, and you only need to move that fraction. Market Cap is extremely misleading in the crypto world in my opinion.

    Just look at the current drop - it's dropped nearly 10% - from a "market cap" of c. 320Bn to c. 290Bn - there is no way that 30 Bn has actually moved out of Bitcoin; I'd bet a huge amount of the "volume" is wash trading.

  15. #265
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    Quote Originally Posted by tertius View Post
    it won't really, only a fraction of the total are available to trade at any moment, and you only need to move that fraction. Market Cap is extremely misleading in the crypto world in my opinion.

    Just look at the current drop - it's dropped nearly 10% - from a "market cap" of c. 320Bn to c. 290Bn - there is no way that 30 Bn has actually moved out of Bitcoin; I'd bet a huge amount of the "volume" is wash trading.
    Very good point. Always worth holding some and it is the mainstream gateway that will often get the new money inflows.

    I do think there is merit with holding the others too and a perceived better upside. I am dipping small holdings into some of the new smaller and micro-sized cryptos too.

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  16. #266
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    Coinbase just introduced BCH exchange!
    Prices are changing RAPIDLY


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  17. #267
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    Just a note of caution:

    Bitcoin Cash is BCH on Coinbase, but BCC on Binanace. Elsewhere BCC would be the acronym for Bitconnect, which I'd avoid like the plague.

    https://support.binance.com/hc/en-us...coin-Cash-BCC-

    Obviously, please, please, please, don't take my word for this, but check diligently before doing anything. All I'm doing is offering a warning that this is something (else) you'll want to be careful about.

    The value of my advice may go up and down without warning!

    Talking about words of warning, I note that throwing everything into BCC (BCH) on Binance went smoothly enough to ponce around doing a slightly risky limit trade for the best exchange, while Coinbase has currently suspended trading in BCH (BCC) which is deeply unhelpful as the price sits on a, presumably temporary, plateau...

    Meanwhile at the strategic level, I'd start asking questions about what NP complete, NP hard and quantum computing are, and then ask who is taking the minor risk that cryptocurrencies might well be a bit like Enigma.

    Safe as houses until it isn't.

    As this is about real money, I'll make it clear, I'm a philosopher and cognitive scientist with a solid background in AI in and I can think of at least two ways that cryptocurrencies are resting on assumptions of unbreakability that are less than certain to me. Firstly, quantum computing...

    http://www.tomshardware.com/news/uns...ter,36144.html

    I'd say that the combination of machine learning and quantum computing would make me want to put my HODL investments into 'hardened' currencies, which, at the moment looks like iota or Ada. However, I've just moved most of them into BCH for the ride. I will not be staying on.

    Secondly, and it's a particular bee in my bonnet, I still remember a guy in my old AI department who produced an early analogue genetic algorithm which could do several things that appeared logically impossible. Now, the most likely explanation is that there was an error in the logic, but I still can't help worrying about logical proofs of the impossibility of something. Quantum computing might well doom (or indeed already have doomed) bitcoin and its derivatives, but a novel proof that P=NP would doom everything. If this all makes no sense to you then caveat emptor.

    The only reason that I'm rabbiting on is that coinbase is still down. At some point, the desire for sleep will overcome my avarice...
    Last edited by M4tt; 20th December 2017 at 05:31.

  18. #268
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    I'll admit. I only understood some of that and as a UI/UX designer I'm generally ok with such things.

    My assumption is that coinbase have phased the launch of BCH. Their pop up notification says as much. Ensure the tracking is running smoothly before enabling trades assuring they should then only have smaller fires to fight. It probably creates a natural buffer for traffic as well rather than one whole part of the world waking up to discover BCH.

  19. #269
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    Quote Originally Posted by mowflow View Post
    I'll admit. I only understood some of that and as a UI/UX designer I'm generally ok with such things.

    My assumption is that coinbase have phased the launch of BCH. Their pop up notification says as much. Ensure the tracking is running smoothly before enabling trades assuring they should then only have smaller fires to fight. It probably creates a natural buffer for traffic as well rather than one whole part of the world waking up to discover BCH.
    I’m sure you are right. However, anyone who is holding my money and changes the rules without allowing me to respond appropriately, costing me hundreds of pounds or more, simply isn’t holding my money any more. I’m just a financial snowflake like that.

    Sort your systems, stress test and then announce, not the other way around. When do you think their devs made their trades? There’s a word for that.

  20. #270
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    Quote Originally Posted by M4tt View Post
    I’m sure you are right. However, anyone who is holding my money and changes the rules without allowing me to respond appropriately, costing me hundreds of pounds or more, simply isn’t holding my money any more. I’m just a financial snowflake like that.

    Sort your systems, stress test and then announce, not the other way around. When do you think their devs made their trades? There’s a word for that.
    I agree and in the news they're looking at insider trading re BCH.

    Its annoying not being able to do much with the small amount of BCH that popped up in my account yesterday but then on the other hand it was free.

    Wonder if this is all that Coinbase will be adding to their listings or if they'll still be adding others come 2018.

  21. #271
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    What happened at 12.05am? They all took a plunge and have since recovered.

  22. #272
    Quote Originally Posted by DavidL View Post
    What happened at 12.05am? They all took a plunge and have since recovered.
    there are reports of a classic pump/dump driven by insider trading. Hundreds of articles online, here is one:

    https://techcrunch.com/2017/12/19/co...n-cash-launch/

    "Coinbase is investigating whether its employees took advantage of inside knowledge to profit on the launch of bitcoin cash (BCH) when it was added the popular crypto exchange.

    The price of BCH hit a high of $8,500 on Coinbase and its GDAX service for professional investors, which was almost three times higher than the $3,500 price on all other exchanges. That led to calls of insider trading from Coinbase staff who, in theory, could have profited by buying BCH on other exchanges in the knowledge that it was about to be added to Coinbase, a move that would (and did) trigger increased trading volume and a higher price as the exchange’s 10 million-plus users got a piece of the action."

    Last edited by cman; 20th December 2017 at 13:50.

  23. #273
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    Either way, did anyone manage to add to their BTC holdings while the price fell, or any of the others?

  24. #274
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    Quote Originally Posted by cman View Post
    there are reports of a classic pump/dump driven by insider trading. Hundreds of articles online, here is one:

    https://techcrunch.com/2017/12/19/co...n-cash-launch/

    "Coinbase is investigating whether its employees took advantage of inside knowledge to profit on the launch of bitcoin cash (BCH) when it was added the popular crypto exchange.

    The price of BCH hit a high of $8,500 on Coinbase and its GDAX service for professional investors, which was almost three times higher than the $3,500 price on all other exchanges. That led to calls of insider trading from Coinbase staff who, in theory, could have profited by buying BCH on other exchanges in the knowledge that it was about to be added to Coinbase, a move that would (and did) trigger increased trading volume and a higher price as the exchange’s 10 million-plus users got a piece of the action."



    Except of course, we didn't get a piece of the action at all because the service went down (after four minutes, I'm told) and hasn't been up since. So I'd be really curious as to precisely who was trading BCH on an exchange that wasn't, and still isn't, permitting trading. What action I got, I got through Binance. Fortunately, I bought after the initial exuberance had dropped off. If I'd seen the graph between midnight and two, I'd have made a very poor decision based on what looks rather a lot like a less than transparent market. As it is, I bought at 180000 an hour or so later and, with it currently at 235000, I'm feeling undeservedly smug and not a little lucky. However, the question now is what the effect of the possibility of naughtiness and the fact that rather a lot of people are locked out of a trade they'd like to make, which is looking increasingly unattractive as the price heads skyward.

    I'll say it again, Binance, with the Chinese government breathing down their necks, are less likely to pull this sort of nonsense, because that's how you become a professional organ donor in China these days.
    Last edited by M4tt; 20th December 2017 at 17:11.

  25. #275
    All seems fishy and a reason to avoid totally BCH...for now. Besides friends working with it believe it is totally not scalable and best to avoid.

    But as a consequence of money being funnelled into it, BTC is below $17k - tempting to top up or could it drop a bit further?

  26. #276
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    At this point, play the metagame, and the fact is that an awful lot of people will be jumping on the bandwagon in exactly fifteen minutes time:

    https://blog.gdax.com/bitcoin-cash-t...e-70c17e3dc916

    According to my Accutron Astronaut...

    at which point, I expect things to get just a little silly for a few hours...

    As for scaling, blockchains, being reliant on miners, don't. The only currency for those really worried about scaling, or indeed quantum issues, is iota. That, of course is currently unable to support its own trading and needs to reach critical mass to start working as intended. At that point it's th4e best choice by a country mile. Until then I think ADA is the best thought out with real growth potential in the medium term.

    FWIW.
    Last edited by M4tt; 20th December 2017 at 23:20.

  27. #277
    Quote Originally Posted by M4tt View Post
    At this point, play the metagame, and the fact is that an awful lot of people will be jumping on the bandwagon in exactly fifteen minutes time:

    https://blog.gdax.com/bitcoin-cash-t...e-70c17e3dc916

    According to my Accutron Astronaut...

    at which point, I expect things to get just a little silly for a few hours...

    As for scaling, blockchains, being reliant on miners, don't. The only currency for those really worried about scaling, or indeed quantum issues, is ethereum. That, of course is currently unable to support its own trading and needs to reach critical mass to start working as intended. At that point it's th4e best choice by a country mile. Until then I think ADA is the best thought out with real growth potential in the medium term.

    FWIW.

    Jup 5pm GMT all hell will break lose. It's funny - ETH believers aren't too worried about that relying on the underlying tech to be 'better'. I agree on ADA, thats why i got 30% of my coin portfolio in them

  28. #278
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    Litecoin's founder has sold all his coins and since Bitcoin Cash has been added to coinbase I don't see any need to use LTC for anything (low fees, Speed etc)

    I've traded all my LTC for Bitcoin Cash as I cant help but think LTC is going to bomb

  29. #279
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    I've a small amount in Litecoin, wondering if I should bail out. Typically I bought into bitcoin at a peak and now it's fallen.........

  30. #280
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    Quote Originally Posted by Toddy View Post
    I've a small amount in Litecoin, wondering if I should bail out. Typically I bought into bitcoin at a peak and now it's fallen.........
    I’d look into why he bailed:

    https://www.coindesk.com/litecoin-cr...lict-interest/

    and remember that that all of this is a storm in a teacup. If you can get ahead of the game, splendid, but selling off now would be daft. Hold it for now and, once everyone has calmed down you’ll be able to sell for a smaller loss, or better...

    Meanwhile, do some research and work out where you want to put your money for the long term. I gave my thoughts on this earlier, but you shouldn’t trust me, I prefer high end vintage Seiko to Rolex!

  31. #281
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    I also note that coinbase appears to have remained locked...

  32. #282
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    So this is all your fault then Toddy?

  33. #283
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    Quote Originally Posted by mowflow View Post
    So this is all your fault then Toddy?
    Pretty much mate.....🤣

  34. #284
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    Quote Originally Posted by M4tt View Post
    I know absolutely zip about crypto................but that doesn't feel like a convincing reason for selling on face value. The whole topic has got me interested though

  35. #285
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    Normally I’d agree, but the fact is that there is a history of being trolled with shilling accusations. Crypto feels really familiar to a watch nerd: I get how a big investment in a nice watch from a decent brand can involve a sip or two of cool aid, but I find it hard to see how you can gulp it down for money that is a little more imaginary than usual.

    Mind you, if someone had invested a bit too much in their preferred version, I can see the temptation to troll the opposition...

  36. #286
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    Guys it seems pretty obvious that a lot of us are starting to get fed up with Coinbase.. so, is there any suitable alternative to Coinbase? Something that doesn’t involve trading so much, but rather Buy/Sell + hold (noob proof)

    Thank you


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  37. #287
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    Quote Originally Posted by scucivolo View Post
    Guys it seems pretty obvious that a lot of us are starting to get fed up with Coinbase.. so, is there any suitable alternative to Coinbase? Something that doesn’t involve trading so much, but rather Buy/Sell + hold (noob proof)

    Thank you
    I have had zero problems with Coinbase so far but I am not in the act of buying/selling regularly. I may buy if the price dips significantly over the next few months but the longer haul is for me.
    When you look long into an abyss, the abyss looks long into you.........

  38. #288
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    Quote Originally Posted by Chris_in_the_UK View Post
    I have had zero problems with Coinbase so far but I am not in the act of buying/selling regularly. I may buy if the price dips significantly over the next few months but the longer haul is for me.
    Try buying BCH right now, or any time in the last 24 hours...

  39. #289
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    ive just remembered ive 900 stellar lumens. watching this thread with interest.

  40. #290
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    My virgin credit card no longer allows payments to coinbase, wonder if they've had issues getting money back or if the lizards are conspiring against crypto currencies.

    Luckily Barclaycard does still work so added a few alts to the portfolio. When I transferred then I noticed that my eth account has received several air drops including xenon which is currently worth £8, bit of an odd concept!

  41. #291
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    Coinbase is very limiting. Awaiting bank transfer to get through. £500 weekly limit is limiting.

    Thoughts on Kraken? I have just signed up and I'm awaiting tier 2 verification to be able to deposit fiat. I want another ability to pass through to Binance.

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  42. #292
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    Quote Originally Posted by Toddy View Post
    I've a small amount in Litecoin, wondering if I should bail out. Typically I bought into bitcoin at a peak and now it's fallen.........
    Now I’d be more sanguine about swapping lite coin for bitcoin cash. I sold at 2.4 last night and just bought again at 2.25. Now that coinbase has finally opened trading again, I expect that there will be significant gains over the next few days, especially if they are fast with damage control...

  43. #293
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    Hey folks, sorry if this is inappropriate on here, but I'm branching a new crypto-currency off from the bitcoin master. There are obvious deficiencies in the BC approach as it exists today, mainly that I didn't buy in when BC was at £16...


    As much as I like the Etherium contract concept, I'm simply unwilling to buy in now that it's at 16£, that kind of price doesn't indicate any sort of momentum or future. Instead I thought I'd branch the BC code-base and bake in some radical concepts that will make it the currency to contend with all others.


    May I introduce you to Social Coin (SOCOiN). Basically every time you promote SOCOiN on social media the value automatically goes up. Every positive mention ups the value by fractions only measurable by homeopaths. Negative associations bring the value down, unless they're instigated by the investment bank equivalent of /r/oldpeoplefacebook in which case we take the minimal positive fraction value and multiply it by the number of people observed smoking outside the premises of the head-quarters of the investment body.


    I'm pricing the initial value at £16.99 and I think you should get in on the ground floor.


    #SOCOiN #PumpNDump #SelfMade

  44. #294
    ^^^Fantastic mate - i'd charge less though. Sell a coin at $1, limit supply to a million then you have a market cap of $1million. Then scale from there

    As for today - lots of chatter around Tron (TRX), gone up over night and planned to get a few exchange listings, could be a nice little run coming for it....

  45. #295
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    Quote Originally Posted by danmiddle2 View Post
    Hey folks, sorry if this is inappropriate on here, but I'm branching a new crypto-currency off from the bitcoin master. There are obvious deficiencies in the BC approach as it exists today, mainly that I didn't buy in when BC was at £16...


    As much as I like the Etherium contract concept, I'm simply unwilling to buy in now that it's at 16£, that kind of price doesn't indicate any sort of momentum or future. Instead I thought I'd branch the BC code-base and bake in some radical concepts that will make it the currency to contend with all others.


    May I introduce you to Social Coin (SOCOiN). Basically every time you promote SOCOiN on social media the value automatically goes up. Every positive mention ups the value by fractions only measurable by homeopaths. Negative associations bring the value down, unless they're instigated by the investment bank equivalent of /r/oldpeoplefacebook in which case we take the minimal positive fraction value and multiply it by the number of people observed smoking outside the premises of the head-quarters of the investment body.


    I'm pricing the initial value at £16.99 and I think you should get in on the ground floor.


    #SOCOiN #PumpNDump #SelfMade
    You sir, are a genius. I only feel slightly ashamed.

    Mind you, with all the turmoil, I currently have a simple strategy: set a stupidly low (buy) or high (sell) limit in Binance. If, or rather when (at the moment) the price dips or climbs a silly amount you buy automatically and then set an equally optimistic target in the other direction. Rinse and repeat. I'm treating it like a slightly crap video game you check in on every so often. Once it's all settled down, I'll stuff it all back into iota, ada and probably the next crypto kitties style craze as I have the mind of a five year old!
    Last edited by M4tt; 21st December 2017 at 11:20.

  46. #296
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    Quote Originally Posted by emo72 View Post
    ive just remembered ive 900 stellar lumens. watching this thread with interest.
    I'd keep tight hold of them in 2018.

  47. #297
    How does one get hold of some XLM if they don't hold other cryptocurrencies? I am finding it quite perplexing as I seem to be unable to establish trust links without having 20XLM to start off with. Would anyone sell me some to get me started?

  48. #298
    Quote Originally Posted by mangoosian View Post
    Coinbase is very limiting. Awaiting bank transfer to get through. £500 weekly limit is limiting.

    Thoughts on Kraken? I have just signed up and I'm awaiting tier 2 verification to be able to deposit fiat. I want another ability to pass through to Binance.

    Sent from my [device_name] using TZ-UK mobile app
    I've got a £2500 weekly limit on Coinbase. Can't remember how, maybe underwent further verification?

    As for Kraken, I wouldn't bother. Very slow website, commonly server errors and not particularly friendly.

    I signed up with Binance today and that is far slicker whilst Cryptopia is another exchange worth looking at - between them most coins are covered. Can't vouch for their security (my major holdings are on hardware) but they both function well.

  49. #299
    Craftsman
    Join Date
    Feb 2013
    Location
    London
    Posts
    868
    Quote Originally Posted by Kingstepper View Post
    I've got a £2500 weekly limit on Coinbase. Can't remember how, maybe underwent further verification?

    As for Kraken, I wouldn't bother. Very slow website, commonly server errors and not particularly friendly.

    I signed up with Binance today and that is far slicker whilst Cryptopia is another exchange worth looking at - between them most coins are covered. Can't vouch for their security (my major holdings are on hardware) but they both function well.
    I have Binance and I like it. The problem is speed of conversion of fiat to BTC or ETH so I can get them over to Binance. I have a revolut bank transfer payment incoming to coinbase but that still has not got there after 3 days. The card payments go through in about an hour. Coinbase does have a warning about slow processing.

    Just signed up with xapa to see if I can access BTC via that as well.

    I can easily flex exposure up using etoro but the spread is painful and I am working on the longer term holdings being on a hardware wallet.

    Sent from my [device_name] using TZ-UK mobile app

  50. #300
    Master
    Join Date
    Aug 2012
    Location
    UK
    Posts
    3,051
    Blog Entries
    2
    Quote Originally Posted by Kingstepper View Post
    I've got a £2500 weekly limit on Coinbase. Can't remember how, maybe underwent further verification?

    As for Kraken, I wouldn't bother. Very slow website, commonly server errors and not particularly friendly.

    I signed up with Binance today and that is far slicker whilst Cryptopia is another exchange worth looking at - between them most coins are covered. Can't vouch for their security (my major holdings are on hardware) but they both function well.
    It seems to go Up with time. Mine is now £15k

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