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It's awesome, a friend of mine made AU$4k last week buying and selling bitcoin cash at it's various peaks and troughs. The shit part is, he did it based on my advice, which I did not follow myself, thus I did not make AU$4k :(

This weekend have made about 400 trading between BCC, BTC, and BTG again. I put some more money into ETH when it started trending up, but waiting for it to drop again so I can gtfo :)

So, noticing that several of the smaller coins I trade are slowly dropping in price, took a quick look at Bitcoin.

Currently sitting at just under AU$12,000 (1 BTC = AU$11937.89)

BTC rapidly approaching USD$10K now - will be interesting to see if there is a major sell-off and correction as we hit that milestone.

Too true.

It's really fucked up at the moment. The sooner this self corrects the better. It needs to be more stable if it is ever to become a mainstream payment source.

It'll a long time before we see stability. Most of the money in crypto is speculative, people don't understand what they're getting into, they just see a market trend.

I think Bitcoin's big jump back in April has been driven by interest in ETH. Big names getting behind ETH piqued an interest in crypto and I think conversations about ETH often start with "ETH is like Bitcoin, have you heard of that?"

2020 I think ETH will be ready for apps, 2025 it will be part of the day-to-day for tech savvy businesses and individuals. 2030 it will be a part of everyone's life. I think places where there's poor financial & legal infrastructure will benefit first.

I was going to bet that ETH hits US$1T market cap before BTC, but now I'm not sure. I don't see the split between BTC and BCH working out well for those currencies, but that might not be enough to stall the current momentum.

Yes, it probably will be a long time before we see it.
It's a bit weird because it really is just an arbitrary number, but the stable number should not be $10k US.

A crash will drop it and it may stabilise but I could easily see it going back up again after a few years. Probably a second crash (maybe smaller than the first) will help stabilise it.

But right now my cup of coffee might cost 0.000043 bitcoin.
Oh wait, now its 0.000038 bitcoin.
Why would I want to spend my bitcoin if I can wait a day and it's worth more.

Yeah, absolutely.

This is partly why I think ETH is the future:

BTC transaction volumes are being inhibited by unreasonably high fees. However, the Lightning Network and various other layer 2 solutions will eventually address this. I don’t see it as a problem in the long term.

Given the past 6 months of a shit show that the Bitcoin community had over block size... it will be interesting to see how they go about implementing Lightning.

How high do we think IOTA will go?

From an article I read just before the dotcom crash, one which always stuck with me:

I wish I had cash I could drop in ETH after the crash happens. Alas, I have to fix my car.

The thing is, while the general public may be aware of the crypto boom (most would only know of Bitcoin), my suspicion is that very, very few of them are participating in trades. It's too abstract and technical for your average punter.

I'm not convinced. There are a range of what I would call "Facebook Mums" wanting to buy $100 worth of BTC in various groups. Along with services like https://mybitcoinsaver.com/

Sure, there are some small managed funds and groups around. During the days of the dotcom bubble, huge numbers of everyday people were executing their own stock trades directly through brokerages. Crypto is not at that level of hysteria... yet (IMO).

Bitcoin feels pretty hysterical. It hit US$18k today.

Dotcom bubble at peak = US$4.19 TRILLION inflation adjusted (280 top stocks combined, market value)

Crypto combined market cap right now = US$430 billion.


One tenth of the way there.

US$500B market cap for all crypto. ETH is at US$600.

I mined LTC some time ago (2012). Wish I had just bought a bunch instead now.

Still, pretty pleased right now.
Its not a life changing amount, yet. Also until I've sold them I have nothing and they could plummet . Been a fun ride though.

Sell it for ETH. ;)

Shower thought from this morning - half tempted to start a business targeting parents - "Do you have a computer from 2011-2014? Did your kid play video games on it? You might have bitcoins! - Send us your HDD and we'll check it for bitcoins - $20 + 50% of any bitcoins recovered"....

Too complicated. Just brand yourself as Captain Planet and go around offering free eco-friendly recycling services on all old computers.

Browser histories and personal HDD content are two things I do not want to expose myself to.

The question is, what the Internet industry worth now?

Enlighten us.

I was actually hoping someone else would. I mean, I could investigate, but I'm not confident of a reliable result.

I'm much more confident about my insights into tech than markets.

No prob, just have a crack and tell us what you come up with. Since you're a market newb, no judgement will be passed.

I found this. I don't think it's really related, but it looks like an interesting read.

I don't really know what counts. Amazon, Alphabet, Facebook are obviously Internet companies. But do you include Apple, or Tencent?

Amazon, Alphabet and Facebook have a market cap of $1.7T between them.

Update: The 350 Bitcoins formerly owned by Jodi are now worth NZD$9.8 million.

Best to just look at the something like the Nasdaq chart which shows that you would still be lucky to be breaking even if you held the shares until today. Most people would have been killed that got into the market as it got near the peak because they would have been investing in the newer companies that went to zero.

I posted the tulip price to show that they still have value today even after 400 years :)

You seem to be having a conversation unconnected to anything anyone else is talking about.

Hey we're back!

Hello again.

Ya'll got any of them sub $800 ETH ?

My plans. I am moving to the country with my partner. She has a dream job out there, and I am in a position to semi retire, and fulfill my retirement goal: Buy a house, buy a baby grand piano, and live out the rest of my life trying to become Keith Jarrett.

.. I will also settle for 1/10th the talent of Jacob Collier:
https://www.youtube.com/watch?v=EubA5jdN06E

In NZ, you guys don't have the convenience of Coinbase (i tried to set my cousin up a few weeks ago, not available in NZ). Coinbase makes buying and storing crypto very easy. No wallets, no private keys. Just a username and password + a credit card. Its very good for dollar cost averaging your purchases also because it limits how much you can put in at any one time.

Coinbase signup rate has gone through the roof recently, probably due to thanksgiving dinner conversations. Well, now we're entering christmas season, just imagine the sheer number of conversations that will result in new signups and new capital entering the market. Personally I have already been booked in to help 3 people buy Bitcoin. My teaching method will be for them to sign up to Coinbase, then I will send them some ETH or BTC and say "Merry Christmas".

In other news. I have my first Crypto gig writing a whitepaper for a token project. The client is in California, and agreed to pay me in ETH. I sent them my address, then in 5 minutes the advanced payment was in my account. Boom, we're in business.

I’m not a fan of leaving anything on an exchange, get that shit into a hardware wallet and take control of your private keys asap. Also, Coinbase charges high fees for all that convenience - at the very least, take the time to learn how to trade on GDAX and save a ton of money.

Everything you say is true, and buying through an exchange is my preferred method. But a lot of people don’t give a damn about web3.0, and they just want to park some wealth. Coinbase makes entering into crypto very easy. My induction process is to explain the fundamentals of Bitcoin, and why it is unlike any previous technology or money system, then get into actually buying the stuff, and how to store it (Ledger Nano S ftw)

while i like exchanges, sometimes you see a positive price shift that cannot wait for funds to be cleared ready for trading. enter Coinbase with instant position taking to ride the waves with the market

Ps, GDAX also doesnt support NZ
https://support.gdax.com/customer/en...n-access-gdax-

Neither does Coinbase? My suggestion was based on the notion that if you are using Coinbase, you should switch to GDAX.

Coinbase and GDAX can't be used if you're signing up from NZ.