Ethereum

[Ajax]

Originally Posted by Nich

Huge wash trading going on. Hold on to your row boat people! Sharks in the water

Uh yeah, it’s been happening non-stop since the Gox days. The whole market is built on wash trading.

[Ajax]

Holy shit, Eth price is getting hammered. If it drops into single digits I might be tempted to take a punt.

[blynk]

So what exchanges do people use (if you are based in NZ)? Do you a NZ one, or something overseas.

I have had a look at a couple.

[blynk]

Anyone?

[Lightspeed]

I can't even remember how I first obtained my Eth. I sell via localethereum.com.

[Nich]

Buying / Selling in NZ is difficult from what i can tell.

You could go here to get Bitcoin:
https://localbitcoins.com/instant-bi...-offers=Search

or here:
https://bisq.network/

Then go here to exchange for Ethereum:
https://poloniex.com/ ; or
https://bittrex.com/ ; or
https://www.binance.com/en

[DrTiTus]

https://www.mycryptosaver.com

It's a NZ company (so you have some recourse, and can easily communicate with them). You don't have to set up a recurring payment - you just get a reference for bank deposits that puts the crypto straight into your BTC/ETH wallets on a Friday. You can buy up to $2000/month. You can also purchase instantly: https://support.mycryptosaver.com/ar...y-crypto-saver

If you're scared, do what I suggested earlier and just get a small amount each week.

If you do use an exchange, don't leave your crypto in there! Do your trading then withdraw again. I've used binance.com in the past, although I mainly just HODL rather than trade.

[DrTiTus]

Also, just in case you haven't used it, the Jaxx [multi currency] wallet app allows you to use Shapeshift to transfer between currencies without having to register with an exchange. I think this may change in the future, but for now it's "relatively" anonymous.

[Deadmeat]

So, anyone using a BitFi wallet?

[Nich]

IMF issues a "warning" regarding Bitcoin

https://www.express.co.uk/finance/ci...-monetary-fund

- Bitcoin may have "rapid growth"
- This could screw with global economic systems

So basically, two good reasons to buy Bitcoin

[Nich]

Better article:

https://www.forbes.com/sites/billyba.../#796f81c33544

[Ajax]

Originally Posted by Ajax

If Bitfinex and Tether implode, it will create a liquidity crisis in which nearly everyone will want to sell and nobody will be able to cash out. It would ruin the market for years.

Tether is showing signs of, well, becoming untethered to the USD. Trading at 91 cents on Kraken as I type this, which is unprecedented. It will be fascinating to see what comes next.

[Nich]

Probably this:
https://cryptowat.ch/markets/bitfinex/btc/usd/1h

Bitcoin from 6400 to 7250 in 20 minutes.

Weeeeee

[Ajax]

Yep, people frantically shifting their Tether into other crypto - that’s the spike. Then the crash comes when they try to sell for real money.

[Ab]

Bitcoin Mining Alone Could Raise Global Temperatures Above Critical Limit By 2033

A recent UN climate report said that if global temperatures rose above 1.5 C it could lead to catastrophic climate change. Bitcoin alone could raise global temperatures by 2 C within two decades.

[Nich]

Bring on casper and PoS in 2019. Then Ethereum will prove its not only the native, fully programmable currency for the internet, but it's also good for the planet!

[Juju]

Originally Posted by Ab

Bitcoin Mining Alone Could Raise Global Temperatures Above Critical Limit By 2033

Holy hell in a shit basket, the amount of holes that are in that paper would turn it into the worlds first man made black hole.

What a pile of steaming click baity trollop turdness.


For a start, they imagined bitcoin matching the world wide cashless transaction volume, which is 10,000 transactions a fucking SECOND.

Bitcoin can do 7. SEVEN.

[Lightspeed]

lol, that's hilarious.

It'll be interesting if PoS drives a change in Bitcoin. I suspect vested interests will resist any change, which might be the beginning of the end for Bitcoin.

[Cyberbob]

Any thoughts on https://initiativeq.com?

Or is it just a ponzi scheme with extra steps.

[crocos]

Totally dodgy IMO.

[Nich]

Dodgy as fuck.

https://ftalphaville.ft.com/2018/10/...andiose-ideas/

"The signup list collates the following information:

-- people who think get-rich-quick schemes can work;
-- people who will get their friends to sign up for a get-rich-quick scheme;
-- a full network graph of said people.

Any number of disreputable people and companies would throw their hats in the air at getting hold of a database like this. Affinity fraud loves this sort of list of pre-screened suckers."

[Nich]

Back on Ethereum,

Vitalik's Keynote Devcon 4:
https://www.youtube.com/watch?v=Km9BaxRm1wA

[Juju]

So I have what's left of my Eth currrently sitting in a smart contract. I would like to get it out of that smart contract. To do so, I need to send a 0 eth transaction to tell it to send it back to my wallet.


Problem is, *all* of my eth is in there. So I have no eth to pay the gas for the transaction.

So ah... could someone kindly send me like $1 of Eth (About 0.0068) ?

0x1350804Da29D56eb3eC41189d8A7168fC017401a

(go on.. address stalk me and laugh at my pathetic balances over time..)

much obliged

[Nich]

Sent. That should take 2-3 days because it's past noon in NZ, and all transactions submitted after 12pm are pushed to the following day for processing because for some reason computers stop working after 4pm.

j/k i see it's in your wallet awaiting confirmation.

[blynk]

So bitcoin has taken a couple more small dips aye.
Now under $5k

Eth under $150

[Nich]

yeah, no lambos in 2018. Only 2-minute noodles.

But look at all charts across the economy. We are in the midst of a massive unraveling. Oil, stocks, tech companies, property, bonds, gold, crypto... there is no safe haven. We all go down together.

[Juju]

Originally Posted by Nich

Sent. That should take 2-3 days because it's past noon in NZ, and all transactions submitted after 12pm are pushed to the following day for processing because for some reason computers stop working after 4pm.

j/k i see it's in your wallet awaiting confirmation.

Champion Thanks mate.

[blynk]

Originally Posted by Nich

yeah, no lambos in 2018. Only 2-minute noodles.

But look at all charts across the economy. We are in the midst of a massive unraveling. Oil, stocks, tech companies, property, bonds, gold, crypto... there is no safe haven. We all go down together.

Seems to be the threat of regulation that started the downfall in crypto and tech stocks.
And then probably people getting spooked causing it to spiral more.

[Lightspeed]

I need to get me a decent income again, cause every day is a better day to buy up. The actual tech progress seems to be going very well.

[pxpx]

Crypto-currency is always(mostly) measured and talked about in terms of regular money. Until that changes, it's got no future.

[Ajax]

I don't see any of the current cryptos having much of a future - all of them are severely flawed and dysfunctional. However, I believe a genuinely useful and broadly adopted crypto will emerge in the next decade or so.

[DrTiTus]

Meanwhile, silver is fucking cheap...

If you're not pro-crypto, maybe stock up on some relatively cheap metal - unless you don't believe in that either.

[DrTiTus]

BTC under $5k NZD... ($4884 as of this post)

On the flip side, sun's cranking, so my mining output is higher. Not profitable by any measure, but still a better return than 6c/kWh.

[Nich]

Yep. this is brutal.

[Ajax]

[Ajax]

Originally Posted by Lightspeed

It's always a good time to buy Ethereum, but now's especially good.

How about now?

[Lightspeed]

Every day it gets better.

The spike is probably bad for people like me, cause I sold up for $$. If ETH had been on a gradual incline to ~US$50, I'd still be preaching a 10-15 year timeframe, chuffed about current gains, hodling a lot more.

[Ajax]

Originally Posted by Lightspeed

chuffed about current gains, hodling a lot more.

Considering eth has lost 93% of its value in the past year, that's an interesting take.

Are you using your phat gainz to buy back in at the current low, low prices?

[Lightspeed]

ETH has lost market value, sure. But my main interest is still the intrinsic value: what the system can do for the world. That's still on track as far as I can tell. And still a long way from fruition.

I used my gains to cope with losses elsewhere. I wouldn't have sold if circumstances didn't compel me. I'm too poor to buy back in right now, but fingers crossed it will stay low and I'll be in a position to buy back in, in a year or two.

[Lightspeed]

The crash was pretty obvious, right?