Cryptocurrency

[wifehunter]

Trust is the most important thing in this industry. There is a youtuber i followed who was talking about earning 4 bitcoins in 50 days by investing into this platform. The platform sounded like a ponzi and many ponzi's have gone bust in crypto space. Some are still running and legit (so far) but have ponzi like marketing programs. Anyway this guy invested 4 BTC's on a video and got many of his followers to do it. I considered it. I asked some questions and made some statements about how he provided very little information on the platform and made it sound like a ponzi and that he felt confident he could get his money out before the ponzi went bust. Well in 3 weeks, the ponzi went bust. I think he made more than his money back or close to it, but he was at the top of this ponzi for his group and many of his followers lost all their btc. IF there is a new venture promising something crazy, be wary and do your research.

My friend is doing a ghetto version of a hardware wallet. He's using Exodus and an external hard drive. Sending all his coins to exodus on his external hard drive and taking that hard drive offline until he needs to send more coins to it or sell some coins.

A little more brilliantly, my brother has a secure encrypted thumbdrive.

I don't get it. From my perspective, hardware encryption seems unnecessary, and a pain to backup.

With truecrypt, you can securely put your coins on a tiny microsd card.

 

[AAAgent]

I understand what a wallet is and how it works. I was specifically asking how to send from Coinbase to that wallet.

Use the correct term so you don't confuse people. You don't cash out from an exchange to a wallet, you send your coins/tokens from an exchange to a wallet.

What wallet do you have? You can easily pull a youtube video on your wallet and look up how to send from coinbase to that wallet.

 

[AAAgent]

Is coin mining still a thing? My cousin did well building mining computers and selling them, until supplies of the required video cards dried up.

Yes crypto coin mining has made a major resurgence. With the major rise in crypto prices, crypto currencies are becoming very lucrative to mine. Kind of like the gold rush in the 1800's, the companies who sold the shovels and equipment made a killing. If you get into mining or building your own rig, it's very profitable. Assuming prices don't drop too much from here and difficulty doesn't increase too much in the short term, which it shouldn't, you'll do very well mining. OBviously if ETH and BTC drop to $10 and $500, it will probably cost more to mine the coins than what you get from mining them. It's why I dabbled my feet first in cloud mining where I get passive income daily.

I'm in the process of building an Ethereum mining rig as ETH is the most profitable coin to mine average about 110 days on ROI and the rest is pure profit. I'm already engaged in cloud mining (risky as there are many scam companies) where I fronted an upfront investment cost and get daily payouts in BTC, ETH, and XMR. Since I don't do anything except invest for cloud mining, I also get about 55% profit compred to 100% if i built a rig and mined it myself. My payout will be roughly 11 months, but at the rate that crypto is increasing, my breakeven will probably be alot shorter than 1 year.

These calculators are currently down, not sure why but I use them from time to time when I upgrade my mining contracts.

https://www.cryptocompare.com/mining/calculator/eth
https://www.cryptocompare.com/mining/calculator/btc

 

[AAAgent]

Triple whammy on crypto/bitcoin the last few days. Miners signaling hard fork potential. Hackers attack and compromise certain crypto wallets along with large exchanges experiencing DDOS attacks. Major dump of crypto during DDOS attacks.

Bitmain attacking BIP 148 and trying to hardfork Bitcoin which caused the slight price decline yesterday. A hardfork will basically split bitcoin into two coins. Your one bitcoin will then become two, assuming you're holding it in a wallet/exchange that makes both bitcoins compatible. This is obviously bad. They want this to happen because they've managed to find a glitch when mining bitcoin called AsicBoost where they can mine bitcoin @+45% profitability. Bitmain makes the majority of bitcoins mining equipment in the world. As the new soft fork method BIP 148 is not compatible with AsicBoost, Bitmain is doing everything and anything possible to delay and deter people. Including propaganda but as they control a large portion of the worlds miners, people are forced to listen. A softfork of bitcoin will stop it from splitting into two coins and everything will just continue as is and behind the scenes some things will change that won't affect the users.
https://bitcoinmagazine.com/articles/bitmain-responds-uasf-another-hard-fork-announcement/

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Hackers. Jaxx wallet and a few other wallets. DDos attacks on exchanges.
https://www.infosecurity-magazine.com/news/worlds-largest-bitcoin-exchange/
http://www.cnbc.com/2017/06/14/majo...acks-as-record-rally-makes-them-a-target.html

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Government regulation trying to work its way into bitcoin. Supposedly some of the traders i'm following are saying the central banks/banks are attempting to attack/rattle the crypto markets to stop people from flooding into crypto. They are having a tough time as it is propping up our paper stock markets, and it's that much harder when people keep leaving the fiat markets for crypto markets. It's alot harder to manipulate crypto markets as they have to pump up the price by buying and then dump it. No etf's, options, etc.

https://cointelegraph.com/news/regulation-is-only-hope-for-bitcoin-morgan-stanley
https://www.congress.gov/bill/115th...1/text#toc-idea0e9489fc8f46379f95bb56c8bbbda5
"The bill aims to include Bitcoin in the list of monetary instruments that must be reported upon entering or leaving the US.

"Theoretically, if you leave the US with more than $ 10,000 in BTC/ETH, you would have to report this to the authorities or face the penalties mentioned above (prison time, civil confiscation, etc.)."

 

[AAAgent]

Looks like this opportunity might be gone. I was expecting the correction on Monday to be the marker for the next leg up, but looks like this one was it. Might last until Saturday or just start back up from here. We shall see.

Easy profit made here if you were able to buy. I was able to get a buy in and so did a couple friends. Made 20% in a day off that and my friend made 50%. Be nimble and somewhat smart and you can easily make a killing. Long term trend is up as long as we have healthy pullbacks.

Top 100 crpyto market cap went from $116bn on Monday morning and at thursdays lows I saw it dip to $91bn. It's now bounced back to $105bn.

 

[PrettyBoyAJ]

I copped a couple when the price went near 288$ yesterday. Looks like a good buy.

I purchase some Eth from my bank account yesterday but with Coinbase it takes 8 days to receive the coins however. This should have no affect on the amount of coins I receive. Right?

Because when I bought the price was low and shot right back up after I purchased.

 

[AAAgent]

I copped a couple when the price went near 288$ yesterday. Looks like a good buy.

I purchase some Eth from my bank account yesterday but with Coinbase it takes 8 days to receive the coins however. This should have no affect on the amount of coins I receive. Right?

Yeah, you get the coins at the price you bought them at (amount will be the amount you purchased). Nice buy! You can buy via credit card but the fee is alot higher but does arrive instantly.

I've learned to always leave some disposable income to catch these falls. Missed out on a few opportunities in the beginning.

 

[PrettyBoyAJ]

Yea there's a limit for me for only $500 a week on my credit card and I hit my max. I knew I had to buy some though so bought with my bank account.

I'm going to sit on what I have now for a little bit. Don't plan on buying any more or selling anymore soon.

 

[AAAgent]

Any holding LTC, or bought during the dip just doubled their money.

 

[AAAgent]

BTC - took a dip yesterday to $2k but it's back up to $2,250.
ETH - took a dip down to $150 yesterday but it's back up to $170.
LTC - after i decide to sell half, mr. diddly here shot up to $31. Still up a decent amount from this alone.

I am trying to get into Veritaseum ICO. Let's see if i can figure out how. Good ole intangible coins.

I've mentioned Veritaseum a few times. I was trying to get into the ICO a month ago and after hours of research, e-mailing the company, I finally figured it out and got into Veritaseum ICO. It was pretty damn confusing but if you put in the leg work, it's well worth it. Veritaseum will be a Wall Street killer with smart contracts that cut out crazy fees from bankers, hedge funds, brokers, etc. Plus it's a research tool founded and run by Reggie Middleton who made tons of sick calls during the past financial crisis and after. His preliminary alpha reports are top notch which are focusing on forecasting various crypto currencies/companies and their future performance.

I bought in at the end of the ICO for around $6 per token.

http://coinmarketcap.com/assets/veritaseum/

Veritaseum is currently hovering around $70 - $90. Roughly a 1,000% to 1,500% gain.

If you like to be close minded like certain individuals on this forum that just bash things they don't like and have no understanding of, you'll miss out on opportunities like these. Crypto is a growing space that can easily be a multi-trillion dollar market. It will quickly make it's way into a majority of our lives. Don't let your emotions get involved with making profit.

I've easily made 200%, 300%, and even 400% profit holding various crypto's. If you get in now, you probably still can. Even if you just buy Bitcoin or Ethereum or Litecoin. These are the most well known crypto's that you can easily research and begin to learn the industry from. Don't be an idiot. Ask questions.

I will start a new thread soon on what exchanges I use (why), how I make passive income daily from crypto, how I loan my crypto out for passive income, where I get my information from, get paid for writing content (not advertising revenue), scams, etc. Just so you can follow what i'm doing and learn. I've already gotten a few people on board from my circle and their making daily income already.

 

[PrettyBoyAJ]

Look forward to AAA, good stuff

 

[AAAgent]

I've mentioned Veritaseum a few times. I was trying to get into the ICO a month ago and after hours of research, e-mailing the company, I finally figured it out and got into Veritaseum ICO. It was pretty damn confusing but if you put in the leg work, it's well worth it. Veritaseum will be a Wall Street killer with smart contracts that cut out crazy fees from bankers, hedge funds, brokers, etc. Plus it's a research tool founded and run by Reggie Middleton who made tons of sick calls during the past financial crisis and after. His preliminary alpha reports are top notch which are focusing on forecasting various crypto currencies/companies and their future performance.

I bought in at the end of the ICO for around $6 per token.

http://coinmarketcap.com/assets/veritaseum/

Veritaseum is currently hovering around $70 - $90. Roughly a 1,000% to 1,500% gain.

Veritaseum now hovering between $110-$180 @2,100% and as high as 3,000%+ gain since ICO. I'm hearing rumors of 1:1 with Ethereum.

 

[Thefakeslimshady]

First of all I wanted to say thanks to AAA for hooking us all up with valuable information and guidance. I just purchased Litecoin today as my first crypto as it was the only thing in my budget for the moment. That being said, I'm looking forward to all the future posts you'll be making regarding crypto and the ways to make money around it.

The stats surrounding VERI are extremely impressive, and it's crazy to see where it's at after you mentioned it a while back. 170-180 seems high so im hesitant to pull the trigger but don't wanna miss out on any opportunities.

 

[AAAgent]

BTC might be on its next run now. Let's see how this plays out.

 

[AAAgent]

BTC might be on its next run now. Let's see how this plays out.

and here we go!

 

[BeTheChange]

Looking to get into this now my latest property deal has closed. Aiming to allocate no more than 5% of my investment capital. That's be around $8,000.

With that kind of budget which cryptocurrency do you thinking would make the best investment?

Also @AAAgent do you have any recommended resources for gaining and understanding of what is driving the fundamentals here?

 

[AAAgent]

Looking to get into this now my latest property deal has closed. Aiming to allocate no more than 5% of my investment capital. That's be around $8,000.

With that kind of budget which cryptocurrency do you thinking would make the best investment?

Also @AAAgent do you have any recommended resources for gaining and understanding of what is driving the fundamentals here?

FYI, any information I post here is not investment advice (I want to make this clear so you don't bet your house and lose it and blame it on me). I'm posting what I'm doing and my reasoning behind my decisions while also giving you guys some insight into the crypto space.

With that cleared up, Bitcoin and Ethereum are the two largest market cap crypto's Bitcoin is a universal currency that can potentially replace the USD (who knows if it will). It's built on the block chain which is an wide open bank statement that tracks all transactions (basically anyone anywhere and anytime has access to the blockchain to view any and all transactions. nothing is hidden or can be hidden). It's decentralized and unmanipulable by governments, banks, etc. (for the most part). There is a finite amount of bitcoins that will ever be in existence. 21 million. There is roughly 16 million in circulation and x amount of millions of bitcoins that have been lost on old hard drives, computers, or just simply lost. Each and every block of bitcoins that get's mined, the next batch becomes x times more difficult to mine. The last bitcoin to be mined is estimated to be over 100 years from now or something ridiculous.

Ethereum is a platform that the new internet 3.0 will supposedly be built on. Ethereum the crypto currency is the token all individuals and organization will need to use in order to do ANYTHING on the Ethereum platform. Corporations and even other crypto companies are using Ethereum to build new companies and even issuing their own crypto currencies. Golem is a platfor built on Ethereum. They needed to buy Ethereum in order to fund their platform Golem. Golem is a platform that allows users to sell their computing power to other Golem users and into the Golem platform. It also allows users to buy computing power for any projects that they would live to dabble in and need additional computing power. Golem itlsef pays in you Golem tokens.

Sia is another platform built on Ethereum. Just like Golem and every other company (banks, General Electric, etc.), they need to buy ethereum in order to fund their company/project being built on Ethereum. The Sia platform is a cloud storage company like Google, Amazon, Microsoft, etc. that allows users to sell their computer storage space on the Sia platform. As the Sia platform cloud draws from so many different users storage space, it's decentralized and no entity will ever be able to look into the files you store like Google, Amazon, etc. most likely does and probably sells to the government and other entities. Sia pays you in Sia tokens just like Golem.

Veritaseum is also built on Ethereum. That is why you see many crypto's traded against Ethereum.

VERI/ETH
GOL/ETH
SIA/ETH

There are hundred of other companies and tokens that are built on Ethereum. There are plenty of other platforms that are competing with Ethereum as well that have similar structures.

The fundamentals I believe that are pushing crypto up, are the block chain technology/decentralization and Ethereum on the tech side of innovation. The other side of the financial equation you have MASSIVE currency devaluations happening in all major developed countries. We're printing tons of money in China, Japan, Europe, South America, USA, Canada, etc. You also have 1% to negative interest rates in USA, Europe, and Japan for the last 10 years. Very little interest bearing yield for anyone trying to save money or invest in interest bearing assets (especially for the old people who live off of savings/interest). Most people did not recover from the last financial crisis so the low interest rates have little to no positive effect for them. The rich people are making a killing off these low interest rates because they can borrow for free. The hyper inflation isn't showing too well because it's being mixed with deflation (confusing I know).

Hyper inflation is the result of too much currency supply hitting the markets for x amount of goods. I explained how this is happening. Rich people/foreigners are buying everything.

Deflation is the result of lack of currency supply hitting the markets. The average person is struggling, working multiple part time jobs, hasn't gotten a raise in who knows when, or is unemployed. These people are doing little to no spending. So you have one side of the spectrum spending little to no money and trying to save what they can, and the other side spending like crazy and borrowing like there's no tomorrow, it creates pockets of deflation and inflation. Housing and stock markets are super inflated.

Here is a link from the Federal reserve of the Money velocity. Basically, the speed of which cash exchanges hands from one person to another. We're at record setting 40-50 year lows or money velocity. Money hasn't exchanged hands this slow since the early 1970's.

https://fred.stlouisfed.org/series/m1v

I'll end my rant here, but basically the technology is very innovative, is decentralized meaning no central entity or government has claim or control over crypto currencies, and many of them solve problems. As they can't outright destroy crypto currencies without shutting off the internet or massive regulation (which would not be good), many countries are starting to adopt crypto currencies/bitcoin as a method of payment.

I have not been sleeping well with these crazy movements in price in crypto. With all these new ICO's (initial coin offerings), many of them require you to pay for the new coins using ethereum. One ICO was so massive, it basically shut down the entire Ethereum network and caused massive delays in Ethereum transaction world wide. That's why you see coinbase along with many other exchanges issuing Ethereum delays/suspensions or trades.

 

[synergy1]

I am late to the game, but have been learning a little about cryptocurrencies lately. My pros and cons as thoughts are below:

Pros

1- No central banking, or banks. Cutting out the middle man makes it easier to transfer money to another party.

2- Limited supply. No money printing or inflation.

3- No one is in charge. the market drives the currency based on supply and demand alone.

4- Interesting that an algorithm controls the currency. Also interesting that its a redundent system which keeps a ledger so that its very hard to manipulate. I mean dollars are basically traded digitally as well, but we are taxed and the supply is controlled.

5- its durable, small and easy to carry - just use your cell phone!

6- Great for the large part of the population which doesn't have access to a bank account. In places like India where there is a lot of currupt middle men, but cutting them out, you reduce a slew of problems.

Cons:

1- Still need to pay taxes is US dollars

2- Not sure there is a way to get bitcoin back in a fraudulent transaction. The legal system sure won't help. Once its gone its gone.

3- While bitcoin will only have a limited number created, whats to stop other competitors from appearing. some already have.

4- How it respond in a crisis?

5- Will it achieve wide scale adaptation?

These are some of my questions, and there are probably answers to them already. But I'd be interested in purchasing a small amount just for fun. As an investment there are too many unknowns. The biggest has to be the govnt which will use coercion if needed to make bitcoin transactions as hard as possible since they will *always* want their piece of the pie. Do not underestimate central govn't greediness. They will probably, or already have tried to sabotage a decentralized currency. Banks would be in a similar situation since they make a killing lending out other peoples money.

 

[PrettyBoyAJ]

AAAgent have you ever looked into an autobuy program? Yesterday Ethereum went to ten cents and shot back up. If people an auto buy program we could've bought 100s at that price before it shot back up.

 

[AAAgent]

AAAgent have you ever looked into an autobuy program? Yesterday Ethereum went to ten cents and shot back up. If people an auto buy program we could've bought 100s at that price before it shot back up.

Yeah, yesterday's flash crash was a result of Status ICO major fvck up. A lot of people lost their ETH, many others could not get in, people that paid for gas that expedite their transaction were placed behind institutions that used normal amount of gas which doesn't make sense. ETH really need to get their network together and Status which is a great idea and potential opportunity really screwed people and destroyed their rep in the community. Luckily US could not get in on it and I've got enough sh1t on my plate to try and get in on every ICO.

Do I do regular buys? No. I've pretty much got what I want already and i'm diversifying in other things such as mining, lending, focusing on growing my social media crypto earning potential, and waiting for major dips. I also pay for research in the space and read and watch videos for a few hours a day.

I don't think buying regularly is too bad of an idea, but I would save to buy on dips, and diversify either into getting your own miner or cloud mining (what I do).

I will start my own thread soon, just need the dust to settle. I will be listing how im diversified, the risk levels of some of the risker things I'm involved in like cloud mining and crypto lending, paid research reports that I use, people I follow for general information, etc.