NZGames.com Forums
Register FAQ Calendar Mark Forums Read

Go Back   NZGames.com Forums > General > Technology & Troubleshooting
User Name
Password

Reply
 
Thread Tools
Old 25th November 2017, 17:19     #81
Savage
 
Quote:
Originally Posted by Ajax
It's really quite alarming how much the crypto market is driven by news items, commentary, disinformation, etc. What a fucking circus.


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
  Reply With Quote
Old 26th November 2017, 19:20     #82
Savage
 
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)
  Reply With Quote
Old 27th November 2017, 18:05     #83
Ajax
Architeuthis
 
Holy crap

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.
  Reply With Quote
Old 28th November 2017, 10:27     #84
blynk
 
Quote:
Originally Posted by Ajax
It's really quite alarming how much the crypto market is driven by news items, commentary, disinformation, etc. What a fucking circus.
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.
  Reply With Quote
Old 28th November 2017, 12:22     #85
Lightspeed
 
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.
__________________
Stay shook. No sook.
  Reply With Quote
Old 29th November 2017, 16:19     #86
blynk
 
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.
  Reply With Quote
Old 29th November 2017, 16:40     #87
Lightspeed
 
Yeah, absolutely.

This is partly why I think ETH is the future:

__________________
Stay shook. No sook.
  Reply With Quote
Old 29th November 2017, 18:06     #88
Ajax
Architeuthis
 
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 donít see it as a problem in the long term.
  Reply With Quote
Old 30th November 2017, 10:08     #89
Juju
get to da choppa
 
Quote:
Originally Posted by Ajax
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 donít 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.
  Reply With Quote
Old 5th December 2017, 12:04     #90
Delphinus
 
How high do we think IOTA will go?
  Reply With Quote
Old 5th December 2017, 12:53     #91
Ab
A mariachi ogre snorkel
 
Quote:
Originally Posted by Ajax
It's really quite alarming how much the crypto market is driven by news items, commentary, disinformation, etc. What a fucking circus.
From an article I read just before the dotcom crash, one which always stuck with me:

Quote:
JOE KENNEDY, a famous rich guy in his day, exited the stock market in timely fashion after a shoeshine boy gave him some stock tips. He figured that when the shoeshine boys have tips, the market is too popular for its own good, a theory also advanced by Bernard Baruch, another vested interest who described the scene before the big Crash:

"Taxi drivers told you what to buy. The shoeshine boy could give you a summary of the day's financial news as he worked with rag and polish. An old beggar who regularly patrolled the street in front of my office now gave me tips and, I suppose, spent the money I and others gave him in the market. My cook had a brokerage account and followed the ticker closely. Her paper profits were quickly blown away in the gale of 1929."

Are we at the same fatal stage in the market today, when people who aren't expected to have stock tips have stock tips, including hot dog vendors, shoeshine boys, the homeless, pedicurists, barroom dancers, toll takers, and the trumpet player at the racetrack? Will stock prices fall off the cliff under the weight of enormous popularity?


http://archive.fortune.com/magazines...1503/index.htm
  Reply With Quote
Old 5th December 2017, 13:29     #92
Lightspeed
 
I wish I had cash I could drop in ETH after the crash happens. Alas, I have to fix my car.
__________________
Stay shook. No sook.
  Reply With Quote
Old 5th December 2017, 20:10     #93
Ajax
Architeuthis
 
Quote:
Originally Posted by Ab
From an article I read just before the dotcom crash, one which always stuck with me:
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.
  Reply With Quote
Old 8th December 2017, 08:10     #94
pxpx
 
https://www.investopedia.com/news/bi...olen-nicehash/
  Reply With Quote
Old 8th December 2017, 09:14     #95
Delphinus
 
Quote:
Originally Posted by Ajax
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/
  Reply With Quote
Old 8th December 2017, 18:25     #96
Ajax
Architeuthis
 
Quote:
Originally Posted by Delphinus
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).
  Reply With Quote
Old 8th December 2017, 22:07     #97
Lightspeed
 
Bitcoin feels pretty hysterical. It hit US$18k today.
__________________
Stay shook. No sook.
  Reply With Quote
Old 8th December 2017, 22:48     #98
Ajax
Architeuthis
 
Quote:
Originally Posted by Lightspeed
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.
  Reply With Quote
Old 13th December 2017, 11:44     #99
Lightspeed
 
US$500B market cap for all crypto. ETH is at US$600.
__________________
Stay shook. No sook.
  Reply With Quote
Old 13th December 2017, 19:46     #100
kRAdENkO
 
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.
  Reply With Quote
Old 13th December 2017, 23:40     #101
Lightspeed
 
Sell it for ETH.
__________________
Stay shook. No sook.
  Reply With Quote
Old 14th December 2017, 10:59     #102
Juju
get to da choppa
 
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"....
  Reply With Quote
Old 14th December 2017, 13:37     #103
Ab
A mariachi ogre snorkel
 
Too complicated. Just brand yourself as Captain Planet and go around offering free eco-friendly recycling services on all old computers.
  Reply With Quote
Old 14th December 2017, 14:07     #104
Lightspeed
 
Browser histories and personal HDD content are two things I do not want to expose myself to.
__________________
Stay shook. No sook.
  Reply With Quote
Old 15th December 2017, 09:48     #105
Lightspeed
 
Quote:
Originally Posted by Ajax
Dotcom bubble at peak = US$4.19 TRILLION inflation adjusted (280 top stocks combined, market value)
The question is, what the Internet industry worth now?
__________________
Stay shook. No sook.
  Reply With Quote
Old 15th December 2017, 15:28     #106
Know me.
 
http://bulbsdirect.co.nz/product-cat...spring-tulips/
  Reply With Quote
Old 15th December 2017, 21:17     #107
Ajax
Architeuthis
 
Lightbulb

Quote:
Originally Posted by Lightspeed
The question is, what the Internet industry worth now?
Enlighten us.
  Reply With Quote
Old 15th December 2017, 21:26     #108
Ajax
Architeuthis
 
Quote:
Originally Posted by Know me.
https://en.oxforddictionaries.com/definition/luddite
  Reply With Quote
Old 15th December 2017, 22:16     #109
Lightspeed
 
Quote:
Originally Posted by Ajax
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.
__________________
Stay shook. No sook.
  Reply With Quote
Old 15th December 2017, 22:25     #110
Ajax
Architeuthis
 
Quote:
Originally Posted by Lightspeed
I mean, I could investigate, but I'm not confident of a reliable result.
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.
  Reply With Quote
Old 16th December 2017, 01:16     #111
Lightspeed
 
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.
__________________
Stay shook. No sook.
  Reply With Quote
Old 17th December 2017, 23:49     #112
Ajax
Architeuthis
 
Quote:
Originally Posted by Ajax
Worth over NZD$3 million today - I'd be salty.
Update: The 350 Bitcoins formerly owned by Jodi are now worth NZD$9.8 million.
  Reply With Quote
Old 18th December 2017, 12:23     #113
Know me.
 
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
  Reply With Quote
Old 18th December 2017, 12:28     #114
crocos
 
You seem to be having a conversation unconnected to anything anyone else is talking about.
__________________
Ξ √ Ω L U T ↑ ☼ N

وكل يوم كنت تعيش في العبودية
  Reply With Quote
Old 19th December 2017, 20:05     #115
Nich
 
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
  Reply With Quote
Old 19th December 2017, 20:18     #116
Nich
 
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.
  Reply With Quote
Old 19th December 2017, 22:44     #117
Ajax
Architeuthis
 
Quote:
Originally Posted by Nich
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.
Iím 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.
  Reply With Quote
Old 20th December 2017, 10:04     #118
Nich
 
Everything you say is true, and buying through an exchange is my preferred method. But a lot of people donít 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-
  Reply With Quote
Old 20th December 2017, 11:32     #119
Ajax
Architeuthis
 
Quote:
Originally Posted by Nich
Neither does Coinbase? My suggestion was based on the notion that if you are using Coinbase, you should switch to GDAX.
__________________
Infest my hood with crack 'cause I'm the mack.
  Reply With Quote
Old 20th December 2017, 18:15     #120
kRAdENkO
 
Coinbase and GDAX can't be used if you're signing up from NZ.
  Reply With Quote
Reply


Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump



© Copyright NZGames.com 1996-2021
Site paid for members (love you guys)