Crypto $$$

[NTF6]

Originally Posted by PHATAL

Try again I guess. I basically just hit the spend all then buy and that was it. Probably smarter to set the price etc but whatever.

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That's exactly what I did, hit spend all at market, order accepted, nothing in open orders or trade history.

Usless ****ers!!!!!

I've just about had a guts full of BTC Markets, I'll check back later and if I don't have a trade I'll pull my cash and they can get ****ed!

[PHATAL]

Oh and BTW I havent received an email to say that my BPay had cleared either. Even though it was sitting in my account on BTC ready to go.

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[NTF6]

Originally Posted by PHATAL

Oh and BTW I havent received an email to say that my BPay had cleared either. Even though it was sitting in my account on BTC ready to go.

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BTC certainly lacks some polish considering it is dealing with a ****load of peoples money.

[PHATAL]

Originally Posted by NTF6

BTC certainly lacks some polish considering it is dealing with a ****load of peoples money.

I think their business has basically exploded in the last month and they simply cant keep up with it.

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[NTF6]

Originally Posted by PHATAL

I think their business has basically exploded in the last month and they simply cant keep up with it.

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Well, they'd better get their **** together real quick or people are going to bail out. There's a lot of negative reviews on the net.

I've just pulled all my cash out, as soon as it clears I'll close my account and go somewhere else.

[GetToTheGone]

Originally Posted by PHATAL

Oh and BTW I havent received an email to say that my BPay had cleared either. Even though it was sitting in my account on BTC ready to go.

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They said on Facebook they stopped the email as it was slowing down transactions when they were behind and had 20000 transactions to process. Will start it again when thay can make it more streamline. Or something along those lines.

[NTF6]

Originally Posted by GetToTheGone

They said on Facebook they stopped the email as it was slowing down transactions when they were behind and had 20000 transactions to process. Will start it again when thay can make it more streamline. Or something along those lines.

Hence why I've pull my cash, if the stock market operated like that we'd have another GFC!

[NTF6]

And ETH is around $500 more than when I wanted to get in, I need to be able to trade faster than what they can deliver!

[CJR09]

You can try eToro

Pros:

Easy to buy in with credit card & withdrawals to credit card.
You only need drivers license and proof of address and verified straight away.
Minimum deposit $500usd
Buys/sells happen straight away.
Good charts/options and site functionality
Access to international markets
Good forum/feed support
Trader copy function
If other traders copy you - you get reduced spread and no fees.

Cons:

Large spreads - the more volatile the larger the spread
Only trade 7 coin/token - BTC, BCH, Ether, ETC, XRP, Dash, LTC
Harder to day/minute trade because of the spreads
Charges to withdraw
Not local

[PHATAL]

Ripple continuing to take a dive. Down to $3.55 now after I bought some yesterday at $3.91.....

Worst investor ever LOL.

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[NTF6]

Originally Posted by PHATAL

Ripple continuing to take a dive. Down to $3.55 now after I bought some yesterday at $3.91.....

Worst investor ever LOL.

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And heading back up, the problem with crypto markets is they never close then reopen so it makes it hard to see what the daily profit/loss is.

[ford man xf]

Originally Posted by PHATAL

Ripple continuing to take a dive. Down to $3.55 now after I bought some yesterday at $3.91.....

Worst investor ever LOL.

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It was caused by a major Crypto Currency site removing data from Asian Markets, it caused a panic sell off. I actually watched Ripple drop to $3.20 from $3.70 in a matter of minutes, and then climb back up to $3.60 minutes later, shows how volatile things can get and not to panic like a few did.

Cryptocurrency market crashes 20 per cent as website ditches South Korean exchange data

BITCOIN and other cryptocurrencies have crashed by more than $200 billion in value — due to a single data change which left investors furious.

BITCOIN and other cryptocurrencies including ethereum, litecoin and ripple plummeted in value on Monday after Coinmarketcap removed prices from South Korean exchanges without warning.

Prices on South Korean exchanges are typically up to 30 per cent higher than in other countries. The widely used research site’s decision to exclude average price data from Bithumb, Coinone and Korbit resulted in a sudden drop in displayed prices.

That caused confusion among investors and partly contributed to a major sell-off, which was also fuelled by news that South Korean and Chinese regulators planned to increase oversight on cryptocurrency trading and mining.

“This morning we excluded some Korean exchanges in price calculations due to the extreme divergence in prices from the rest of the world and limited arbitrage opportunity,” Coinmarketcap wrote on Twitter. “We are working on better tools to provide users with the averages that are most relevant to them.”

The total market capitalisation of more than 1300 cryptocurrencies tracked by Coinmarketcap fell from around $US830 billion ($A1056 billion) to bottom out at $US669 billion ($A851 billion) on Monday, a drop of 20 per cent. By late Monday, the market was sitting at around $US742 billion ($A944 billion).

Among the hardest hit were ripple, litecoin and bitcoin cash, which at the time of writing were down 25 per cent, 11 per cent and 13 per cent respectively on the previous day, while bitcoin was trading at $US15,215 ($A19,364), down more than 7 per cent.

“The most obvious point is how undeveloped the ecosystem supporting bitcoin and cryptocurrency trading still is,” said ABC Bullion chief economist Jordan Eliseo.

“It highlights the undeveloped nature of trading in bitcoin, reporting in bitcoin, market data sources for people to utilise when they’re wanting to track performance or monitor trends in that space.

“You can look at it two ways and say Coinmarketcap taking Korean prices out of their averages makes the performance of bitcoin and cryptos look worse than they otherwise would, [but] the flip side is that in the past they weren’t reporting them accurately.”

The move drew fierce criticism from the cryptocurrency community. “Right, might be useful to notify people of things like this before or as you execute to avoid crashing the market, thanks,” one commenter wrote on Twitter.

“Really unprofessional,” another said. “You ought to have announced this many days in advance and given fair warning to people who depend on your website for accurate movements in markets.”

Others weighed in on the broader implications. “How healthy is a market really if a single non-exchange website can crash it?” one commenter on Reddit asked.

It came after a series of reports last week that suggested Chinese officials planned to crack down on bitcoin miners, the networked computers which work to verify transactions on the blockchain and in return receive newly created units of the currency.

Bitcoin mining consumes an enormous amount of energy — 38.6 terawatt-hours a year, or 0.17 per cent of total world consumption, according to Digiconomist. That’s more than the individual energy use of a number of countries including Denmark.

The reports in Reuters, Bloomberg and Caixin Global suggested authorities planned to abolish preferential electricity deals and tax deductions for bitcoin mining companies in order to “guide” them towards an “orderly exit” from the country.

Meanwhile, South Korean authorities have reportedly begun inspections at six banks that provide accounts to companies involved in cryptocurrency trading, citing concerns about potential money laundering.

Last month, Australian exchange Coinspot suspended deposits in Australian dollars due to ongoing problems with local banks, which were accused of closing accounts and blocking transactions.

“The regulatory noise in South Korea and China, that’s going to be an ongoing threat to bitcoin and to crypto more generally for the foreseeable future,” said Mr Eliseo. “Governments, financial institutions, you name it, are still working out how best to deal with crypto and the businesses involved with it.”

Mr Eliseo said it was a “real risk factor” investors needed to be aware of. “While it’s very easy to get money into this system to buy cryptocurrency, it may not be so easy to get it out when you want to liquidate your position, realise profit and get your money back into the banking system,” he said.

“There is enormous opacity surrounding the vast majority of the leading cryptocurrency exchanges. I think a lot of people, when they buy bitcoin on an exchange, they think they’re actually buying a specific bitcoin or portion of a bitcoin, whereas I suspect what they’re really buying is a claim on that bitcoin.

“In that sense it’s broadly analogous to a bank, which doesn’t have a whole heap of banknotes waiting for you to come pick them up, but the big difference is there is absolutely zero governance over these big exchanges. With a bank, the government is there to protect depositors.”

It came amid reports that Microsoft was no longer accepting payment in bitcoin, following a similar move by online game distribution platform Steam last year “due to high fees and volatility”.

The news was reported by industry blog Bleeping Computer, which cited “several Microsoft employees who have told us the move is temporary and cited the unstable state of the bitcoin currency”. Microsoft did not immediately respond to requests for comment.

http://www.news.com.au/finance/money...31b803b1db4446

[ford man xf]

Like I said previously Enigma was the one to grab, it sat at $1.00 weeks ago and now trades around the $10.00 mark, just imagine you chucked $10,000 into it....unfortunately a lot of us missed out because of CoinSpot's ridiculous signing up procedure.

[PHATAL]

Originally Posted by ford man xf

Like I said previously Enigma was the one to grab, it sat at $1.00 weeks ago and now trades around the $10.00 mark, just imagine you chucked $10,000 into it....unfortunately a lot of us missed out because of CoinSpot's ridiculous signing up procedure.

Yep.. I am waiting to be verified.

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[snap0964]

Originally Posted by ford man xf

unfortunately a lot of us missed out because of CoinSpot's ridiculous signing up procedure.

The drivers licence and recent bill I understand - a selfie with yourself holding a written piece of paper as well ??? Yep, it really is me . . . .honest!

[PHATAL]

As soon as I am verified in coinspot I have a plan.

● 1 - move some profit from ripple to coinspot.

● 2 - close my eyes and point at the screen to select a crypto.

● 3 - buy said crypto.

● 4 - .......

● 5 - profit!!

● 6 - pay off my house and car.

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[naddis01]

Do you currently have a non-verified account? You can transfer and trade crypto with a non-verified account on coinspot.

[PHATAL]

Originally Posted by naddis01

Do you currently have a non-verified account? You can transfer and trade crypto with a non-verified account on coinspot.

Yeah but the trick is you can only use certain currencys. You can transfer out of coinspot but not a lot in. Bitcoin would cost me more in fees than it is worth.

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[naddis01]

Yes fees can be enormous

[JC]

I've had a small dabble in ETH and IOTA since before Xmas, and just added some POWR, BCC, RDD and XEM.

Also have another small amount in USI-Tech, and did my first withdrawal of BTC to coinspot from USI yesterday (I'm not compounding) so will see what happens there (hopefully it works).

[NTF6]

Originally Posted by PHATAL

As soon as I am verified in coinspot I have a plan.

● 1 - move some profit from ripple to coinspot.

● 2 - close my eyes and point at the screen to select a crypto.

● 3 - buy said crypto.

● 4 - .......

● 5 - profit!!

● 6 - pay off my house and car.

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Just as good as any other investment plan I suppose.

[NTF6]

Originally Posted by ford man xf

Like I said previously Enigma was the one to grab, it sat at $1.00 weeks ago and now trades around the $10.00 mark, just imagine you chucked $10,000 into it....unfortunately a lot of us missed out because of CoinSpot's ridiculous signing up procedure.

If only myself and a heap of others had signed up a month ago, it was the lengthy sign up/verification process that caught people by surprise when the cryptos decided to run.

I signed up with Westpac Share Trading easier than the crypto trading sites and I I traded well over $200k with them.

[CJR09]

Its going to test $2usd again i think

[NTF6]

Originally Posted by CJR09

Its going to test $2usd again i think

Yep, there's a few taking a hit, ETH still going well though, still wish I had been able to get in when it was $1100 but on a positive note for me the ARK I bought is hitting new highs.

[PHATAL]

Ripple is failing...

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[ford man xf]

Originally Posted by PHATAL

Ripple is failing...

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It should bounce back up again. Theres big orders going through as people buy it whilst it's cheaper. A few of the bigger exchanges in the USA might start trading Ripple so that could push the price up. Will wait and see, all Crypto Currencies take a hit and then slowly creep back up.

[CJR09]

If it fails to find support @ $1.75usd (currently @ $1.77usd) it will likely bounce at $1.25usd approx which would give some good buying!

[ford man xf]

Ripple bluff: XRP on Coinbase is still coming?

The price of Ripple may be dropping, but there are still plenty of reasons why you can still invest in XRP on Coinbase.

OPINION
Is it? Isn’t it? There are millions of people invested either way in finding out whether Ripple (XRP) is coming to Coinbase or not, and neither the company behind the altcoin nor the world’s biggest exchange is making it easy. If previous history is any indication, the arrival of Ripple on Coinbase would double its value within hours. That’s what happens when your item comes up for sale on the world’s biggest retailer. It becomes substantially easier to acquire and it becomes exposed to a substantially larger audience.

List of exchanges that allow you to buy Ripple

In a market where price fluctuates based on supply and demand, the impact is instant and immense. The price of Ripple will go sky-high; it will go to the moon, if it arrives on Coinbase.

Rewind time to the turn of the New Year and Ripple seemed a certainty for Coinbase. It was one of – but certainly not the only – the reasons why the value of Ripple soared dramatically. Then water fell upon the flame, and with it, the value of Ripple dropped. But investors need not be disheartened; there remain a number of signposts that point to XRP on Coinbase in the near future.

XRP on Coinbase 1
The chain of events for XRP on Coinbase?

Way back in 2015, the CEO of Coinbase, Brian Armstrong, blew altcoins off as a waste of time. You can see his Tweet above. At the time, Bitcoin was worth US$218 a pop and it owned 81% of the market cap share. Now it’s worth US$14,500 a pop, but despite the humungous growth, its share of the market cap is down to 33%. Things have changed.

They didn’t really begin to change until the last four months of 2017, either. In this time the market cap – which refers to the total amount of money invested into cryptocurrencies – rose from US$120 billion on September 15, to US$814 billion by the turn of the New Year. That’s 680% growth. The previous 680% growth period took 10 months and prior to that, it had taken three years to grow 680%.

What these two pieces of information tell us is that not only has interest boomed, but it’s been doing so in the altcoins. Yes, it’s true that Bitcoin has done all the heavy-lifting and remains by far and away the dominant cryptocurrency; it’s lost 50% of its market cap share in the process. For an exchange, any exchange, to look at that data and to bet against altcoins would be bad business. Because if you don’t follow the market, the market will move to somewhere that does.

Perhaps that’s why Brian Armstrong changed his stance. On December 15, 2017, he revealed the following:

Everything started here with Bitcoin about five-years ago, but it’s now turned out that there are dozens of these digital currencies. In fact, I think there are 50 to 100 now with a market cap over US$100 million. It’s almost becoming Stock Market 2.0 if you want to think of it that way. The ones that are the most exciting to us that we have on the platform today are Bitcoin, Ethereum and Litecoin, but there’s many more that are going to be added to the platform in 2018 and I think this is going to be a really exciting space for all kinds of institutional investors to make money.

Whenever we’ve looked to add a new asset to the platform, we look at a number of factors. We released our GDAX new asset trading policy just a few weeks ago to give you an insight into how we do this. We look at what the regulatory risk is, do some due diligence on the team, do a security audit of the coin, [examine] what the customer demand is and consider all those factors before adding it to the platform. – Brian Armstrong, CEO, Coinbase

This is a confirmation that altcoins will be coming to Coinbase in 2018 – not just one or two but “many more.” A deeper look into the new trading policy also reveals the other factors that are considered before XRP on Coinbase could become validated. Taking into account Armstrong’s quote above and that policy, I’ve pulled out the following key indicators. Not all of them must be met, and meeting them doesn’t guarantee addition, but it provides the best indication of what altcoins are on Coinbase’s radar.

Is the altcoin legal under U.S. security laws?
Does the coin have a clear and compelling reason to exist?
Does it push cryptocurrency technology forward and can it scale over time?
Is the project scheme structure transparent?
What are the altcoin’s levels of security and liquidity?
Is the team behind it well run and reputable?
What is the customer demand for the altcoin?
Does it align with Coinbase’s values, which general manager Adam White described as "promoting our mission of creating an open financial system for the world"?

Ripple on Coinbase
What happened when Bitcoin Cash launched on Coinbase?

A week later, on 19 December, Coinbase brought Bitcoin Cash to its platform. The value of the coin instantly skyrocketed. In 45-hours it rose from US$1899.86 to US$4147.46 (218% growth) – such is the influence of the exchange. You can see the jump in the table above. However, by 21 December, claims had emerged of insider trading to the point where Coinbase suspended activity on Bitcoin Cash to investigate. Forbes reported the evidence as damning at the time.

Within a week of being outwardly public about plans to bring altcoins to Coinbase, the risk of providing too much information was clear. The market was too volatile and any spike in value immediately preceding the arrival of a new altcoin would carry a “guilty under proved innocent” stigma. Lessons had been learned.

By the end of December, the cryptocurrency community was backing XRP on Coinbase hard. Video footage emerged of Coinbase beta testers apparently showing Ripple being traded on the dashboard. This, in conjunction with other factors, saw Ripple’s value start to climb hard. Between 29 December and 4 January 4, its value rose from US$1.44 to US$3.81 – up 265%.

If the original rumours of a first week of January launch of XRP on Coinbase were true, it became untenable. Ripple’s arrival on Coinbase needed to come on the dip to avoid allegations of insider trading. So water was poured on the flames. While no specific reference was made to XRP on Coinbase, or Ripple in general, the following statement was published on 5 December by the company:

We wanted to give our customers details about our process for adding new assets to our trading platform. Our mission is to be the most trusted and easy-to-use digital currency exchange. We believe sharing this process with our customers is an essential part of building that trust.

A few months ago we released our Digital Asset Framework which highlights our criteria for supporting new assets. You can read our framework here. A committee of internal experts is responsible for determining whether and when new assets will be added to the platform in accordance with our framework. These individuals — and all employees at Coinbase — are subject to confidentiality and trading restrictions. Coinbase will announce the addition of new assets only via our blog post or other official channels.

As of the date of this statement, we have made no decision to add additional assets to either GDAX or Coinbase. Any statement to the contrary is untrue and not authorized by the company.

In short, the statement says: “there will be no insider trading, we promise.” Note the use of the word “trust” twice in the opening paragraph as an indicator of this statement's political intent. Note the desire to state and state hard that the company is aware of and sticks to confidentiality and trading restrictions. And note the confirmation that anything you read elsewhere is untrue.

The technical term for this kind of statement is “covering your ***".
Which is why XRP on Coinbase is still a thing.

There is nothing in Coinbase’s second statement that contradicts Armstrong’s initial announcement from mid-December. The company is bringing altcoins to Coinbase in 2018. It has published a public checklist of factors that could impact the altcoins selected so you can play along and tick them off with the watchdogs. (It’ a checklist Ripple passes with ease.) But in releasing this statement at all, Coinbase has effectively acknowledged that it cannot make the move in an environment where it can be accused of insider trading.

Statements like the one released on 5 December therefore serve a dual purpose. It covers all bases, and it sends the altcoin to be added into a timely decline.

The reasons for putting XRP on Coinbase greatly diminish the reasons against. The demand is high – currently it’s the third biggest cryptocurrency in existence. Its application is relevant and mainstream, in that it can replace the currently archaic systems for transferring currency across borders. It has a company behind it to drive that application and manage its PR, and ultimately, its fees are way lower than Bitcoin, its transactions occur in just a fraction of the time, and the initial buy-in is way more palatable to fringe investors.

Ultimately XRP on Coinbase is smart business. And it’s in the exchange’s best interest to be proactive in moving this and other rising altcoins to its exchange as quickly as possible, before the people look for them elsewhere.

https://www.finder.com.au/xrp-on-coinbase

[ford man xf]

The real winners (if Ripple does boom) will be the ones that pick it up at the current reduced priced under $3.00.

[mick taylor]

I would say that any such currencies are controlled by criminals.