Wow. Bitcoin is almost $1,500

[zinfamous]

no, one can own 1/100,000,000th of a BTC.

This unit even has a name: Satoshi.

oh, so you were serious? No thanks, though. I still prefer the far greater ease of owning, and far greater value of my US penny compared to your Satoshi. Hell, I have tons of pennies!

 

[Train]

oh, so you were serious? No thanks, though. I still prefer the far greater ease of owning, and far greater value of my US penny compared to your Satoshi. Hell, I have tons of pennies!

Or any arbitrary unit in between.

The point is "supply" is a pointless metric in this scenario.

 

[Zeze]

Is VeChain a good investment right now? I haven't done much research into that one

70% of my portfolio is VET. Go to their subreddit and read the intro sticky.

 

[Yakk]

So, what's your projection for the end of 2018? I didn't see you add one to my post.

With everything happening it's hard to say. I don't usually have preset ideas before going into the market for potential trading and I change my mind all the time per research I discover & adjust accordingly. But let's have some fun, why not...

Presently 2018 looks like it will probably be more back & forth extremes with a lot more altcoins created and/or pumped + hard fork get rich quick schemes. The market looks chock full of first time amateurs looking to get rich quick and that automatically always atracks sharks smelling easy money.

Sooo... I expect altcoins to be the flavour of the day for the next few weeks maybe even months before the end of the FOMO cycle exhausts itself and/or more of the altcoins reveal themselves as scams instilling market fear and people looking to go back to proven values.

Following that Bitcoin, now with Futures & Wall Street involved, to hit extreme low shakeout prices. As I mentioned earlier, if the 12K-14K range doesn't hold maybe hitting $7,500 or less to shakeout weak hands. Institutional traders with short futures will then cash in (main reason why BTC dropped and is down right now), followed by buying in at extreme lows before rocketing BTC to new all time highs. IMO just a classic Wall Street type trading, doubt they'll reinvent the wheel. Unfortunate consequence of Bitcoin's success so far I guess. I do see new all time highs easily achievable for BTC.

now.... Add in the introduction of the Lightening Network protocol making a lot of altcoins useless, probably more attacks by the bcash cartel & others, and whatever the owners of ripple decide to do with the billions of new dollars people recently gave them (they own 50% minimum of the token pool and can make more as needed, so yes people are actually giving them money).... makes for an exciting year ahead.

 

[Zeze]

now.... Add in the introduction of the Lightening Network protocol making a lot of altcoins useless, probably more attacks by the bcash cartel & others, and whatever the owners of ripple decide to do with the billions of new dollars people recently gave them (they own 50% minimum of the token pool and can make more as needed, so yes people are actually giving them money).... makes for an exciting year ahead.

VET & ICX already have working partnerships with their product in use. I don't see Bitcoin with LN making them disappear

 

[destrekor]

Once NEM's Catapult update launches on the mainnet, I could see XEM quickly joining the top 4 or top 5 at their present values, at minimum joining Bitcoin Cash at the ~$40 Bil USD mark. That would represent an over 300% move from present value.

 

[Yakk]

VET & ICX already have working partnerships with their product in use. I don't see Bitcoin with LN making them disappear

Maybe they'll trump all the other solutions, or take a share of the market, don't know. That's the speculating part.

 

[OverVolt]

Apparently the people mostly putting real money into this are in South Korea.

 

[zinfamous]

Or any arbitrary unit in between.

The point is "supply" is a pointless metric in this scenario.

I agree....but why did you introduce the "Everyone can own one" idea as a benefit of BTC if you think that supply is a pointless metric?

EDIT: correction--I see that you were responding to Ponyo's comment about limited supply when you said that.

 

[Zeze]

Apparently the people mostly putting real money into this are in South Korea.

What do you mean 'real' money?

US & Europe are pumping crypto too.

 

[momeNt]

What do you mean 'real' money?

US & Europe are pumping crypto too.

I get the feeling he is saying "non-institutional" money. South Korea has the most retail speculation.

 

[Sonikku]

Was up to $30 and $2 something a day. Now it says I make $3.27 a day and I have $9.73? wtf?

 

[destrekor]

Was up to $30 and $2 something a day. Now it says I make $3.27 a day and I have $9.73? wtf?

Doing what?

 

[destrekor]

Or any arbitrary unit in between.

The point is "supply" is a pointless metric in this scenario.

I agree....but why did you introduce the "Everyone can own one" idea as a benefit of BTC if you think that supply is a pointless metric?

EDIT: correction--I see that you were responding to Ponyo's comment about limited supply when you said that.

I still say it is not a pointless metric.

So everyone can own a few bucks worth of BTC. Woohoo! Gonna be eatin' fancy tonight!

Supply is very much an important metric. We tend not to consider hundreds of pennies as something meaningful.

If... IF BTC reaches $1,000,000 USD, and the human population remains at around ~7,000,000,000, every human could own approx $3000 USD worth of BTC. That's... not exactly a lot. Not once you factor in the numbers of individuals who will hold a thousand times that amount or more.

You can't just break down BTC to satoshis and say, hey, everyone can get satoshis!

Once you factor in routinely burned coins and other methods of loss, BTC will enter a 100% deflationary process for life, forever burning/losing coins while demand continues to increase.

The only way demand ceases to be a factor is if BTC just completely bottoms and is deemed worthless in every way. That's not entirely impossible.

 

[ultimatebob]

Is VeChain a good investment right now? I haven't done much research into that one

I find it hard to take them seriously when I found some bad Chinese to English translations on their website.

 

[destrekor]

I find it hard to take them seriously when I found some bad Chinese to English translations on their website.

To be fair, some blockchains developed in Europe suffer the same thing. That's not necessarily a bad thing, and if nothing else, points to a lower marketing budget; that would be in contrast to those developers that advertise and pump investment when they should be developing the product.

 

[Charmonium]

Well, Stellar is on a roll. It's more than tripled just in the past few days.

Look at the trading volume on some of these coins. Ripple and Stellar are trading 10-15% of their market cap every day.

https://coinmarketcap.com/

 

[Cal166]

Ripple & Stellar are the only two I own since I got into it two weeks ago.

Just crazy how much it can gain in just a few days.

 

[pete6032]

Ripple & Stellar are the only two I own since I got into it two weeks ago.

Just crazy how much it can gain in just a few days.

Lucky bastard

 

[Zeze]

Okay, so. This is the stupidest thing I've ever seen. I barely know the products I'm investing in and I'm making gains.

This is so dumb. How is this sustainable. I know tens of coworkers at my work that have crypto currency - all at $1000-5000~ invested. So if these coins skyrocket, everyone in the world becomes rich?

How the hell does that work?

 

[Yakk]

Okay, so. This is the stupidest thing I've ever seen. I barely know the products I'm investing in and I'm making gains.

This is so dumb. How is this sustainable. I know tens of coworkers at my work that have crypto currency - all at $1000-5000~ invested. So if these coins skyrocket, everyone in the world becomes rich?

How the hell does that work?

LOL... it doesn't work... When something is unsustainable that is a bubble. Make sure to lock in those profits and enjoy.

When this pops it's gonna be painful, for some at least.

 

[Ns1]

This is so dumb. How is this sustainable. I know tens of coworkers at my work that have crypto currency - all at $1000-5000~ invested. So if these coins skyrocket, everyone in the world becomes rich?

seriously, coinmarketcap lists > 300 cryptocoins. nobody uses this shit for anything but speculating.

 

[destrekor]

I wish I had put more into NEM (XEM) early on - I always saw it as a "this will blow up, surely... just probably not for awhile" -- well it done blew up. It easily went from a fairly small holding to, yeah my portfolio is almost entirely dominated by it right now.

Tough decisions, keep HODLing or exit, bank some, and rebuy after the sure to come drop.

For reference, the vast majority of my XEM was bought between $0.07 and $0.17, can't remember how much at each purchase. It's ~$1.65 right now - probably getting ready to drop significantly.
Total portfolio, at present value, is approx 1 BTC.

Making up for the stinker that is SALT right now.

And I strongly, strongly contemplated trading that SALT in for VET earlier today - I go back to look and VET blew up again. Ugh lol

I strongly believe in blockchains like NEM and partly don't want to even mess with my holdings in that because down the road I can't imagine it going anywhere but to the moon, it's technical strengths are very impressive and could be a dominant blockchain, frankly, I think more so than ETH. Others, like SALT, Bitcoin Cash (BCC/BCH), XRP, XLM, pure speculation/wave riding, and I say take advantage of that for now because there's going to be wild swings up and down for a good while yet, the bubble in the crypto market itself isn't going to pop just yet. Maybe another year or two or three but individual coins are going to skyrocket and drop like penny stocks, because like penny stocks, market manipulation is insane.

 

[Charmonium]

XLM looks pretty good actually. I've posted this before but it's worth repeating.

In a breakthrough for payments technology, IBM and a network of banks have begun using digital currency and blockchain software to move money across borders throughout the South Pacific.

The significance of the news, which IBM announced on Monday, is that merchants and consumers will be able to send money to another country in near real-time, accelerating a payments process that typically takes days.

http://fortune.com/2017/10/16/ibm-blockchain-stellar/

This sounds like it's for banks only at this point but Stellar has always advocated having individuals use the network for cross-border payments. In fact when they started out they gave, I think it was 5k XLM to anyone with a facebook account. Most people sold those as soon as they got them.

So XLM is one of the few cryptos out there that in my opinion at least have some serious upside.

 

[Yakk]

Siacoin next cheap coin getting pump?