Anyone Invested in crypto?

[nra4ever]

I believe cryptos are here to stay. I'm not sure if any of the current coins will survive or not. I treat it like Vegas. It is just a gamble for me. Don't gamble more than you are able or willing to lose.

 

[hoosierdoc]

Bitcoin tanking... tax plan votes or something else?

 

[nra4ever]

Bch just hit coinbase. It jumped 1k in minutes. People dumping other coins to buy in. Relax all is well.

also stolen South Korean coin hit the market plus Bulgaria wants to dump 212,000 seized coins.

lesson learned is not to leave your coins in the online wallet.

Bch is in a pump and dump right now.

 

[CHCRandy]

Bitcoin tanking... tax plan votes or something else?

Bch just hit coinbase. It jumped 1k in minutes. People dumping other coins to buy in. Relax all is well.

also stolen South Korean coin hit the market plus Bulgaria wants to dump 212,000 seized coins.

Plus the SEC is shutting down public companies for fraud and hedge funds have huge amounts of bitcoin to dump. Litecoin hit $270 I think. That would probably be a nice buy.

 

[hoosierdoc]

Not nervous, I want it at $4000 before my funds settle in account

my site shows down $3000

 

[CHCRandy]

Not nervous, I want it at $4000 before my funds settle in account

my site shows down $3000

The price of bitcoin plunged about 14% — more than $2,500 — late Tuesday after cryptocurrency trading site Coinbase said it would allow its customers to buy and sell its offshoot currency, bitcoin cash.

 

[nra4ever]

Wow. Did everyone just see what happened. That was so slick! They just pulled off a 2 way pump and dump between Bitcoin and bitcoin cash. Sold Bitcoin cash high push down Bitcoin bought it low and riding it back up. Locked up coinbase so only the big dogs could eat. Wow just wow!!!

 

[CHCRandy]

Wow. Did everyone just see what happened. That was so slick! They just pulled off a 2 way pump and dump between Bitcoin and bitcoin cash. Sold Bitcoin cash high push down Bitcoin bought it low and riding it back up. Locked up coinbase so only the big dogs could eat. Wow just wow!!!

Yeah, makes you wonder how much they can manipulate it if they really want to.....

 

[ArcadiaGP]

Yeah, makes you wonder how much they can manipulate it if they really want to.....

That's my pessimistic view of it all... I'm hoping to get in around where I did... and make some money next year. I think, as a whole, it's way too easily manipulated, not transparent enough.

 

[nra4ever]

So what did we learn from tonight's lesson. Manipulation is certainly possible by big players. Coinbase being one of them since they were in on it. Since it's not regulated no one to cry to. And what they wanted was the king. That King being Bitcoin. Don't be afraid to get in. Bitcoin 1 million! And get your coins off coinbase and into a hard wallet.

 

[Kutnupe14]

Bch just hit coinbase. It jumped 1k in minutes. People dumping other coins to buy in. Relax all is well.

also stolen South Korean coin hit the market plus Bulgaria wants to dump 212,000 seized coins.

lesson learned is not to leave your coins in the online wallet.

Bch is in a pump and dump right now.

Yep, BCash... surging. Got my BCash, let it run up, and at its height... guess what I did? I dumped it. BCash may win... BUT it's centralized and run by Roger Ver and Jihan Wu. They run contrary to everything I believe the cryptospace is supposed to be. So they won't be making a dime from me.

 

[hoosierdoc]

what about ASIC miners?

https://www.bitcoinmining.com/bitcoin-mining-hardware/

not too cheap, but wow their capacity is insane if really 13 TH/s for bitcoin. The calculator suggests over $9000/yr in proift.

Litecoin has one at 504GH/s

https://www.ebay.com/itm/NEW-Antmin...289192?hash=item2ccaf00768:g:-3wAAOSwc2FaFIvo

https://www.litecoinpool.org/calc?h...000000&currency=USD&power=800&energycost=0.12

this suggests you'd earn $635/month at current litecoin price of $326, even factoring in power consumption.

Any idea what it means to discover a block? Seems profitable.

Now I need like six litecoin ASIC miners

 

[Kutnupe14]

Well, Coinbase just confirmed that they are incompetent. It was personally profitable, but certainly gives pause in using them in the future. Be careful.

 

[CHCRandy]

Charlie Lee has sold all his LTC, became a gazillionaire.......

Litecoin Founder Charlie Lee Sells Cryptocurrency | Fortune

 

[ArcadiaGP]

Here's a post he made over at /r/litecoin

Over the past year, I try to stay away from price related tweets, but it’s hard because price is such an important aspect of Litecoin growth. And whenever I tweet about Litecoin price or even just good or bads news, I get accused of doing it for personal benefit. Some people even think I short LTC! So in a sense, it is conflict of interest for me to hold LTC and tweet about it because I have so much influence. I have always refrained from buying/selling LTC before or after my major tweets, but this is something only I know. And there will always be a doubt on whether any of my actions were to further my own personal wealth above the success of Litecoin and crypto-currency in general.

For this reason, in the past days, I have sold and donated all my LTC. Litecoin has been very good for me financially, so I am well off enough that I no longer need to tie my financial success to Litecoin’s success. For the first time in 6+ years, I no longer own a single LTC that’s not stored in a physical Litecoin. (I do have a few of those as collectibles.) This is definitely a weird feeling, but also somehow refreshing. Don’t worry. I’m not quitting Litecoin. I will still spend all my time working on Litecoin. When Litecoin succeeds, I will still be rewarded in lots of different ways, just not directly via ownership of coins. I now believe this is the best way for me to continue to oversee Litecoin’s growth.

Please don’t ask me how many coins I sold or at what price. I can tell you that the amount of coins was a small percentage of GDAX’s daily volume and it did not crash the market.

UPDATE: I wrote the above before the recent Bcash on GDAX/Coinbase fiasco. As you can see, some people even think I’m pumping Bcash for my personal benefit. It seems like I just can’t win.

 

[hoosierdoc]

I am seriously considering purchasing an ASIC miner. For $2000 all the calculators predict over $500/mo income on them based on current pricing for litecoin. Hrm...

 

[jd4320t]

I thought the cheapest miner that would make a profit was $4500 or more?

 

[Alpo]

Also, it is a bit behind the curve to assume that "free market forces" can keep up with a bunch of Chinese folks that have been working on this opportunity for a long time. Or Indians.

 

[hoosierdoc]

I thought the cheapest miner that would make a profit was $4500 or more?

depends where you buy. Retailer markup is huge thanks to demand

 

[snapping turtle]

The mining setups I have seen in the past were electric heaters. That cost in ac has to run several hundred a month.