Crypto $$$ - Page 6

malazn mafia · 22-12-2017, 03:54 PM

Quote:

Originally Posted by Iggle Piggle

Weird reading about people taking so long to get approved. I entered basic details (email and password) then did a spam-bot thing where I had to pick squares that had vehicles in them.

Passed that, got sent an email to validate. Clicked the link to validate and it took me to a page to enter my personal details (name, date of birth, address, phone) then a further page for further validation. Entered only my SA driver's licence, was formally validated within 10 seconds and account created.

Deposited $400 into BTC Market account using POLi from my Bankwest account, which required entering a code sent to me via SMS...it took about 2-3 minutes for it to hit my BTC Market account.

Then I grabbed some Ripples. All up it took between 10-15 minutes from no account at all to an account with ripples in it.

Did you have to do the retarded selfie verification?

ford71V8 · 22-12-2017, 04:53 PM

Quote:

Originally Posted by malazn mafia

Did you have to do the retarded selfie verification?

He's post says he only entered in his SA license number, which is the only verification I needed to enter also

**PHATAL** · 22-12-2017, 04:55 PM

I did SA license number and then medicare card.

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NTF6 · 22-12-2017, 05:03 PM

Quote:

Originally Posted by ford71V8

He's post says he only entered in his SA license number, which is the only verification I needed to enter also

I did drivers licence as well, it created my account but then said a letter with a validation code had been sent.

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**PHATAL** · 22-12-2017, 05:04 PM

Quote:

Originally Posted by NTF6

I did drivers licence as well, it created my account but then said a letter with a validation code had been sent.

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That hapoened to me on the first attempt.

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Lunch · 22-12-2017, 05:14 PM

Just vic drivers license for me

NTF6 · 22-12-2017, 05:30 PM

Quote:

Originally Posted by PHATAL

That hapoened to me on the first attempt.

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It’s a **** website, go to my account and it says 100% verified, go to ID Authentication and it says 2 steps out of 3 completed and pending verification. Verify ID and on the 3rd party page it says finished, rubbish website. I sent an email 2 days ago, no reply. They’ve lost me for having a crap website alone. It was easier to verify my westpac share trading account with just one email than this rubbish and I traded over 250k with them.

Iggle Piggle · 22-12-2017, 05:48 PM

Quote:

Originally Posted by malazn mafia

Did you have to do the retarded selfie verification?

Nope, just SA licence number (but I do look retarded in my licence photo).

There is another site I lookeed at - CoinSpot - that does ask for stupid photo of you holding sign, so did not go with them.

Even though I have bugger all compared to the real 'ballers', I'm considering name change to Ripple Piggle

**PHATAL** · 22-12-2017, 06:28 PM

Just took the plunge. Not as low as I would have liked and been comfortable with but just couldn't take the waiting any longer. We shall see. Even if it tanks this has been interesting as.

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Lunch · 22-12-2017, 06:40 PM

Currently looking at moving my crypto to a temporary hot wallet while I make a decision on a cold wallet, should I bother or just leave it in the exchange until I get a cold wallet?

Lukeyson · 22-12-2017, 06:40 PM

#Siacoin

**aussiblue** · 22-12-2017, 08:02 PM

https://www.perthnow.com.au/business...22%2F12%2F2017

Quote:

Bitcoin’s $US6000 dive as panic selling sparks bear market fall

Gareth Costa, PerthNow
December 22, 2017 12:16PM
BITCOIN mania has been dealt a heavy blow today with the world’s favourite speculative “asset” crashing $US6000, or 33 per cent from its record high to $US13,280.

In nominal terms the latest correction in the bitcoin bull market rally is double previous falls, which means much greater nominal cash losses for those late to the speculative frenzy.

Bitcoin peaked at $US19,666 four days ago, but it has entered a fully fledged bear-market correction with a $US3000 loss alone today after crashing through technical support levels.

The sell-off has accelerated as the short-lived price premium seen in bitcoin futures tumbled, leaving the CME futures price in line with the bitcoin spot price.

Signs of panic set in today amid numerous reports of people struggling to sell their cryptocurrency holdings on exchanges where transaction volume levels are nowhere near those on equity market exchanges.

Writing on Twitter, respected technical analyst Peter Brandt said the “bubble has been popped” after the bitcoin price broke below the the steep trend-line in place since December 13.

Support was expected around $US13,000, and if that level broke it could fall to $US8000.

But putting the fall into perspective, the price has only retreated back to levels first hit on December 12, and it was still up about 1480 per cent over the past year.

Most other cryptocurrencies have also fallen, with etherium down almost 19 per cent as broad selling set-in ahead of the Christmas long weekend when making hard currency payments for crypto currencies will be difficult.

The fastest growing bubble in history began faltering this week with heavy selling in Asian time following news five South Korean exchanges had been hacked.

**aussiblue** · 22-12-2017, 08:18 PM

http://www.businessinsider.com/bitco...-12/?r=AU&IR=T

Reminds me of the exotic banking financial instruments that were a significant factor the last (2007-2009) financial crisis in the US

Quote:

Bitcoin could trigger the next financial crisis
Cryptocurrencies could trigger the next financial crisis if they become a systemic risk to the financial system, according to one cryptocurrency expert.
Although cryptocurrencies do not yet pose this risk to the system, if they become more widely embraced they could be destabilising.
The lack of reliable investment advice about cryptocurrencies could also cause many investors to "get hurt."

LONDON — Cryptocurrencies could trigger the next financial crisis if they become a systemic risk to the financial system, a cryptocurrency expert has said.

A growing range of financial institutions are expressing interest in cryptocurrencies, such as bitcoin and ethereum. But in what is a fast moving situation, they could become "systemically important" to the point of posing a "systemic risk," according to Garrick Hileman, an economic historian at the University of Cambridge told Business Insider.

To date, said Hileman, "there haven't been enough people who hold them [cryptocurrencies] or institutions that own them, or enough credit or leverage used. Having said that, I can imagine scenarios — although I'm not predicting this — where they do become systemically important," he said.

Bitcoin has soared in value this year, rising over 1,000% against the dollar so far. This has prompted both increased interest and concern from investors and financial executives. EU and UK authorities are planning to crack down on bitcoin as concerns grow that cryptocurrencies are being used to facilitate financial crimes and launder money.

Were there to be another crash, said Hileman, it's possible there would be an even greater backlash against traditional banks than after 2008 — in the wake of which bitcoin was first developed — and cryptocurrencies could be even more widely embraced.

But, as a growing range of financial institutions enter the space, cryptocurrencies could also "trigger" the next crisis. Indicative of change, said Hileman, "we're seeing more hedge funds come into the space," and new investments such as a bitcoin futures market emerge.

A survey published on Tuesday by the Centre for Macroeconomics found the predominant view among economists is cryptocurrencies do not yet pose such a risk, because they are "too small and too detached from other financial markets."

But integration with more traditional financial markets is "starting to happen," said Hileman, and things are "moving very quickly."

Not only could cryptocurrencies threaten stability, said Hileman, they could also "exacerbate" the next crisis.

"You can now exit [traditional banking systems] relatively easily into something that is disconnected, and that could exacerbate a crisis," he said.

One crucial problem, said Hileman, is the lack of reliable information about the value of cryptocurrencies. The existence of "pump and dump" scams, where traders artificially inflate prices at investors' expense, is problematic, and this is compounded by the fact that valuation models "are still being developed."

"There's a fear of missing out — who can you trust is a difficult question," he said. This is an area that needs significant attention, said Hileman, or "a lot of people are going to get hurt."

Trendseeker · 22-12-2017, 11:18 PM

The Long Island Iced Tea Company changed its name to Long Blockchain and their share price jumped 289% in a day. The company has nothing to do with block chain or bitcoin, but the punters rushed in anyway.
http://www.smh.com.au/business/marke...21-p4yxz8.html

**PHATAL** · 23-12-2017, 01:32 AM

It is low again now. Bah should have waited!

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Sioso · 23-12-2017, 07:39 AM

Quote:

Originally Posted by PHATAL

It is low again now. Bah should have waited!

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I know waiting for money to clear is a pain.
I sent a Bpay payment a few days ago and it still isn't in there, I wanted to put in a low offer on XRP over the Christmas break and hopefully get some more at a good price.

mr smith · 23-12-2017, 08:16 AM

Can hear it deflating...are you people really that gullible? This will never be mainstream, it is fighting the house and in all gambling the house always wins.

Outbackjack · 23-12-2017, 08:37 AM

Quote:

Originally Posted by mr smith

Can hear it deflating...are you people really that gullible? This will never be mainstream, it is fighting the house and in all gambling the house always wins.

Deflating? Its gone up by $2,260 in the last 12 hours. Thats bitcoin, but I agree that BTC has probably had its day. How much have you researched crypto's?

Lunch · 23-12-2017, 09:47 AM

Gullible has nothing to do with it, ask yourself this, what if something ends up being worth $100 and you had the opportunity to get a handful when they were $1? Turning $10 into $1000 for doing nothing, that’s $10 I’m prepared to risk, imagine this, the guy standing next to you spent that $10 and you didn’t.

**PHATAL** · 23-12-2017, 10:24 AM

So I have been watching the price fluctuate over the last week. From what I have seen it looks like the price peaks around noonish and then the lowest is around 1 to 2 am (SA time).

So blokes what is your thoughts on this? Would it be a reasonable plan to say wait until the equity has increased by 20% then sell that additional 20%. Then wait until 1 am and then buy again at a lower price.

Would that then increase your total XRP thus creating more equity?

Obviously this would only work if the unstable trend keeps happening. Thoughts?

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mr smith · 23-12-2017, 10:35 AM

This stuff is worthless.
I have 20 painted rocks and that is all that will ever be made, can you give me $10000 for them?

Good work scamming the new players if you got in early but pyramid schemes have existed since the beginning of money.

**PHATAL** · 23-12-2017, 10:40 AM

Quote:

Originally Posted by mr smith

This stuff is worthless.
I have 20 painted rocks and that is all that will ever be made, can you give me $10000 for them?

Good work scamming the new players if you got in early but pyramid schemes have existed since the beginning of money.

Could be right. Could be wrong. Either way this gives me something to play with for a little while.

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Lunch · 23-12-2017, 10:54 AM

I have thought about that as I’ve noticed that same pattern but for me to do it, I’d have to be confident I could buy back in close to or lower than my initial price, which I’m not, plus every buy/sell costs a % to conduct so you would have to be sure that the margin covers fee’s or you’ll be going backwards..
Another question I’ve yet to figure out is, for example, if you do sell high ( A ) and buy back in low ( B ) but not as low as the initial buy in ( C ) slightly increasing your holdings, is it better?

A: $1.60
B: $1.30
C: $1.10

Is 1.2 @ $1.30 better than 1 @ $1.10

To make 100% on $1.10 you only need $2.20 but on $1.30 you need $2.60 and so on...

NTF6 · 23-12-2017, 10:58 AM

Quote:

Originally Posted by Lunch

Currently looking at moving my crypto to a temporary hot wallet while I make a decision on a cold wallet, should I bother or just leave it in the exchange until I get a cold wallet?

Don’t leave it on the exchange.

**fordomatic** · 23-12-2017, 11:04 AM

Quote:

Originally Posted by mr smith

This stuff is worthless.
I have 20 painted rocks and that is all that will ever be made, can you give me $10000 for them?

Good work scamming the new players if you got in early but pyramid schemes have existed since the beginning of money.

worthless, tell that to people that have cashed out and made a mint. I personally know someone who cashed out yesterday from alts at 350k from 7k invested a year ago. Now he waits for BTC to go back up and wallah, 220k after tax when BTC goes back up to 20k aussie, all for 7k. Gotta be in it to win it mate, no rich person ever became rich from not taking risks, but they all have a diverse portfolio. Spend what you can afford to lose and have fun.

Outbackjack · 23-12-2017, 11:21 AM

Quote:

Originally Posted by Lunch

I have thought about that as I’ve noticed that same pattern but for me to do it, I’d have to be confident I could buy back in close to or lower than my initial price, which I’m not, plus every buy/sell costs a % to conduct so you would have to be sure that the margin covers fee’s or you’ll be going backwards..
Another question I’ve yet to figure out is, for example, if you do sell high ( A ) and buy back in low ( B ) but not as low as the initial buy in ( C ) slightly increasing your holdings, is it better?

A: $1.60
B: $1.30
C: $1.10

Is 1.2 @ $1.30 better than 1 @ $1.10

To make 100% on $1.10 you only need $2.20 but on $1.30 you need $2.60 and so on...

Thats called trading. There are people that make a living from it. Its risky but can be very profitable. You really need to know what you are doing as well. Its too hard for me. I plan to just buy and sit. Its a five year plan.

Outbackjack · 23-12-2017, 11:22 AM

Quote:

Originally Posted by mr smith

This stuff is worthless.
I have 20 painted rocks and that is all that will ever be made, can you give me $10000 for them?

Good work scamming the new players if you got in early but pyramid schemes have existed since the beginning of money.

How much crypto research have you done?

Trump · 23-12-2017, 11:34 AM

Quote:

Originally Posted by Outbackjack

How much crypto research have you done?

It isn't that people have an issue with the technology behind the blockchain and crypto currencies, it is the extremely speculative nature of trade in altcoins that has people working themselves into a tizzy, on both sides of the fence. No amount of research will be able to bring sanity to the market, only a wipeout can do that.

Outbackjack · 23-12-2017, 12:20 PM

Quote:

Originally Posted by Trump

It isn't that people have an issue with the technology behind the blockchain and crypto currencies, it is the extremely speculative nature of trade in altcoins that has people working themselves into a tizzy, on both sides of the fence. No amount of research will be able to bring sanity to the market, only a wipeout can do that.

Thats true. I have never invested in crypto coins before ripple. I have always gone down the property route. But if anyone spent just half an hour reading the facts about ripple they would see that it is probably the safest crypto to invest in. And its a bit of fun, espaecially now that I have taken all my initial money out. I have nothing to loose and everything to gain. I hope that everyone here can eventually do the same.

Mercury Bullet · 23-12-2017, 05:40 PM

Ripple down 7% in the last 24 hours.

176 billion lost in all crypto in the last 24 hours.
Bitcoin dropped from over $20,000 high to under $10,000 before rebounding slightly.

Korean exchange has been shut down for good after being hacked again.

It reeks of a pyramid scheme to me. Some might be lucky and get out in time.