ESOC Crypto Corner

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Netherlands Goodspeed
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Re: ESOC Crypto Corner

Post by Goodspeed »

Well @deleted_user2 I agree it's a bubble but I don't think it's popping anytime soon.
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Re: ESOC Crypto Corner

Post by deleted_user0 »

Goodspeed wrote:You mean insane enough to actually have a substantial effect on the price? Sure, but people who have that much won't want to sell I don't think. BTC is still on its way up long term.
Did you rebuy yet?
I'm still sitting here regretting I didn't get into LTC. But who saw that coming? :huh:


me... but i dont have enough money to buy that shit lol. its not too late btw. its only gonna go up further next year.
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Netherlands Goodspeed
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Re: ESOC Crypto Corner

Post by Goodspeed »

I mean who saw coming that it was going to jump 100% in 3 days? Sure, it'll continue to gain long term but I'm not buying now because a correction seems inevitable after this.
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Sweden Gendarme
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Re: ESOC Crypto Corner

Post by Gendarme »

I'm not so sure about Bitcoin's long term health at all. I was in it for the mid term rise until Bitcoin got enough attention to become a fully fledged bubble, which it more or less is at the moment. In fact, I am not sure if I will ever be involved with crypto again. There are too many questions at the moment (and too little time to research) and I'm not really interested in purely speculative trading.
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Netherlands Goodspeed
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Re: ESOC Crypto Corner

Post by Goodspeed »

Depends on what you mean by long term. I don't believe in it as a lasting currency but seems like there's enough hype to carry it for a while.
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Sweden Gendarme
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Re: ESOC Crypto Corner

Post by Gendarme »

I'm not sure about that last part either. I don't mean that I expect the bubble to pop soon, but I wouldn't be surprised if it did. I'll be on the lookout for better investment opportunities instead. Why go all-in pre-flop with AA if you think you can outplay them all in the following hands, even if the odds are in your favor? Unnecessary risk.
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Spain Snuden
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Re: ESOC Crypto Corner

Post by Snuden »

Is there anything better than crypto at the moment? It is literally money falling from the sky.
I bought a coin late September, due to utter incompetence my wallet account got locked for 5-6 weeks so I was unable to sell.

Now they fork their coin and because all early buyers got locked, we get 2x the amount of coins that we bought.
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Netherlands Goodspeed
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Re: ESOC Crypto Corner

Post by Goodspeed »

Snuden wrote:Is there anything better than crypto at the moment?
There's always tech companies like Google, Amazon etc.
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Re: ESOC Crypto Corner

Post by Snuden »

Goodspeed wrote:
Snuden wrote:Is there anything better than crypto at the moment?
There's always tech companies like Google, Amazon etc.

Whats the yearly gains for those?
In crypto 1% daily returns is expected and often considered on the low end.

If you truly believe bitcoin will keep going up, then look into mining contracts with either Hashflare or Genesis Mining.

On the more risky platforms, I enjoy a delishurs 2% a day, to be withdrawn into my own wallet instantly.
If I wanted I could stake the coins offline at 10% monthly dividends :flowers:
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Netherlands Goodspeed
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Re: ESOC Crypto Corner

Post by Goodspeed »

Snuden wrote:
Goodspeed wrote:
Snuden wrote:Is there anything better than crypto at the moment?
There's always tech companies like Google, Amazon etc.

Whats the yearly gains for those?
Look it up. Last year these did very well and if you diversify you are looking at easily 20% a year with a lot less risk
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Re: ESOC Crypto Corner

Post by Snuden »

If I was to invest my life savings, then yes they are good options.
Since we talk about crypto, let it be clear that anybody putting as little as $0.01 in to this gamble, which they can't afford to lose should get their head examined.

Meanwhile I don't mind making 1-2% daily on a few coins and mining contracts.
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Re: ESOC Crypto Corner

Post by Snuden »

They can trades futures all day long for all I care http://prntscr.com/hm7ajw
The crypto train is running full steam ahead!

The amateurs could not even keep their exchange online :-)
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Re: ESOC Crypto Corner

Post by Gendarme »

I think this graph is rather interesting. The rate of Bitcoin transactions has remained virtually constant during the last two years despite the insane rise in price and the ever-increasing amount of existing Bitcoins. Intuitively this feels like an unbelievable fluke. What can be made of this? If nothing else, it at least somewhat supports the idea that the vast majority of Bitcoin transactions are fake (i.e. people sending to themselves) to create the illusion of a wide adoption of Bitcoin.

Image
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Spain Snuden
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Re: ESOC Crypto Corner

Post by Snuden »

Could it not show that bitcoin is not used for commerce transactions? I don't think it was ever intended to be as such at least.
Another thing to take into consideration is the use of "micro wallets" which basically is a transaction outside of the blockchain. I actually think Coinbase/GDAX transactions are such. How else can they allow to send with 0 transaction fee?

I have never heard the theory about sending coins to oneself.
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Spain Snuden
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Re: ESOC Crypto Corner

Post by Snuden »

Gendarme wrote:I think this graph is rather interesting. The rate of Bitcoin transactions has remained virtually constant during the last two years despite the insane rise in price and the ever-increasing amount of existing Bitcoins. Intuitively this feels like an unbelievable fluke. What can be made of this? If nothing else, it at least somewhat supports the idea that the vast majority of Bitcoin transactions are fake (i.e. people sending to themselves) to create the illusion of a wide adoption of Bitcoin.

Image


Hmm... https://blockchain.info/charts/n-transactions-total
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Spain Snuden
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Re: ESOC Crypto Corner

Post by Snuden »

Another interesting histogram http://prntscr.com/hm7m0y
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Sweden Gendarme
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Re: ESOC Crypto Corner

Post by Gendarme »

Obviously the total number of transactions increases. It can't go down. The fact that it increases at a constant rate despite the increased price and amount of Bitcoins is what I am talking about. Our two graphs are in fact showing the same thing.

Now that I wrote this I realised that perhaps the rate at which new Bitcoins are spent into circulation in combination with the increasing popularity drives up the rate of transacted Bitcoins exactly as much as the increasing price of Bitcoin drives it down. An interesting coincidence nonetheless.
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Re: ESOC Crypto Corner

Post by Snuden »

oops... I misread the chart I linked to.

I think it is more complicated than a single chart can show. Probably tons of crap to take into consideration.

https://blockchain.info/charts
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Sweden Gendarme
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Re: ESOC Crypto Corner

Post by Gendarme »

@Snuden I actually just realised that your graph is the number of transactions, not the amount of Bitcoins. It's a rather irrelevant chart.
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Re: ESOC Crypto Corner

Post by Snuden »

Yesh.
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Netherlands Goodspeed
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Re: ESOC Crypto Corner

Post by Goodspeed »

Gendarme wrote:I'm not sure about that last part either. I don't mean that I expect the bubble to pop soon, but I wouldn't be surprised if it did. I'll be on the lookout for better investment opportunities instead. Why go all-in pre-flop with AA if you think you can outplay them all in the following hands, even if the odds are in your favor? Unnecessary risk.
I thought you were long on this?
It's looking pretty solid still. Fucking LTC is up 200% in the past week. ETH is up 30%. XRP is up 20%. Sounds like opportunity to me.
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Sweden Gendarme
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Re: ESOC Crypto Corner

Post by Gendarme »

Well, I already got like a 70% return. If I knew I would get it so quickly I wouldn't have said that I was keeping it for long. It is all way too fishy for me right now, but I will still keep an eye on the crypto market. I have no clue what I will do, though.
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Re: ESOC Crypto Corner

Post by deleted_user0 »

Goodspeed wrote:
Gendarme wrote:I'm not sure about that last part either. I don't mean that I expect the bubble to pop soon, but I wouldn't be surprised if it did. I'll be on the lookout for better investment opportunities instead. Why go all-in pre-flop with AA if you think you can outplay them all in the following hands, even if the odds are in your favor? Unnecessary risk.
I thought you were long on this?
It's looking pretty solid still. Fucking LTC is up 200% in the past week. ETH is up 30%. XRP is up 20%. Sounds like opportunity to me.


told ya gs. it wasnt too late :P still isnt
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Norway oxaloacetate
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Re: ESOC Crypto Corner

Post by oxaloacetate »

Tulips.
We watched the tragedy unfold
We did as we were told
We bought and sold
It was the greatest show on earth
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Sweden Gendarme
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Re: ESOC Crypto Corner

Post by Gendarme »

Well, GoodSpeed likes flowers.
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