Bitcoins/Litecoins/Virtual Currencies

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Flobee

Flobee

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Tmac said:
Why especially ETH?
Click to expand...
VISA is using USDC stablecoins as a settlement mechanism. USDC is a ETH based stablecoin.

Basically VISA is presumably going to be using the Ethereum network for settlements rather than using SWIFT/ACH or whatever other legacy system they use now.
 
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Tmac

Tmac

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Gonna wait for the chart to make sense and put $5500 into ETH.
 
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Tmac

Tmac

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A little explanation of what I mean by "make sense", since I usually want people here to elaborate more on their reasonings.

Capture.PNG


I usually look for smaller bear runs (blue circle) that are converging on the 20,50,100,200 SMA (black circle) to invest. "The dip" if you will.

Currently you can see we're on a small bull run (red circle) with decent support. Given I'm only looking at the 10 SMA, but I flip back and forth on the 10 day, 1 month, and 6 month to see what the levels of support are doing and if the stock is currently at a dip or a tip.

When I invest at the tip I usually lose money. When I've invested in a dip I typically make money.

One example of this is after congress passed the newest stimulus package. BTC was at $60k and was at the tip. I invested thinking there would a be a "social" response to invest in BTC. The chart told me not to invest. My heart told me to invest. Instead of waiting for the chart to provide a dip, I invested out of FOMO and have lost money since. Luckily I was already in again at $48k, so it didn't hurt as bad.

[Context] I also posted this to keep myself from investing at a tip on the tail of the VISA announcement. FOMO's a bitch.
 
Caliane

Caliane

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Tmac said:
"The use of cryptocurrency U.S. coins to process transactions", wtf kind of language is this?

I'm assuming they mean that VISA is going to allow U.S. based cryptos to process transactions on their network?
Click to expand...
probably just a typo.


"Visa now settles payments in USDC stablecoin on Ethereum blockchain"​

www.theblockcrypto.com

Visa now settles payments in USDC stablecoin on Ethereum blockchain

Visa now settles payments in the USDC stablecoin on the Ethereum blockchain. Visa's settlement agent for the USDC capability is Anchorage.
www.theblockcrypto.com www.theblockcrypto.com
 
Arden

Arden

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I've got about 6k in Eth and I've been trying to free up more money from my stock positions to buy more Eth before it takes off to the next level. I need at least one good market week before I can do that though and the market has been absolute shit lately. Really frustrating.

I'm hoping that Eth stays where it is for a bit longer and the market improves, but I know exactly what's going to happen. The market IS going to improve, but Eth is going to go up and I'll be left wishing I would have just cashed out my stock positions for a loss and bought Eth while it was still low.
 
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Arden

Arden

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I know this has been asked before on this thread, but what platforms are people using to buy/sell/hold their crypt these days? I'm trying to change platforms. I don't plan to do much trade- mainly buy and sell Eth. I've looked at kraken, coinbase, and crypto.com. The fee structures are all super convoluted. I intend to buy a pretty big chunk of Eth on this new platform and I want to be able to stake if after Eth 2.0.
 
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Tmac

Tmac

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Arden said:
I know this has been asked before on this thread, but what platforms are people using to buy/sell/hold their crypt these days? I'm trying to change platforms. I don't plan to do much trade- mainly buy and sell Eth. I've looked at kraken, coinbase, and crypto.com. The fee structures are all super convoluted. I intend to buy a pretty big chunk of Eth on this new platform and I want to be able to stake if after Eth 2.0.
Click to expand...

Coinbase Pro and Exodus wallet.
 
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Threelions

Threelions

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Arden said:
I know this has been asked before on this thread, but what platforms are people using to buy/sell/hold their crypt these days? I'm trying to change platforms. I don't plan to do much trade- mainly buy and sell Eth. I've looked at kraken, coinbase, and crypto.com. The fee structures are all super convoluted. I intend to buy a pretty big chunk of Eth on this new platform and I want to be able to stake if after Eth 2.0.
Click to expand...
Also using Coinbase pro and exodus. Binance is a good option if available (not in NY, the fuckers). I keep my coin in a cold storage solution (Trezor), but can monitor my holdings with exodus (view only)
 
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Tmac

Tmac

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Threelions said:
Also using Coinbase pro and exodus. Binance is a good option if available (not in NY, the fuckers). I keep my coin in a cold storage solution (Trezor), but can monitor my holdings with exodus (view only)
Click to expand...

Why don't you just use a VPN if you like Binance?
 
Tmac

Tmac

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I'm really bad about deciding to do something and jumping in without deciding "when" to jump in. I almost got into ETH at $1,820 and it's already down to $1,788. It's insiginificant other than the fact that reading the chart has already saved me dollars.

Below you'll see I'm looking at the 1 day range (red circle top) and the SMA convergence I was waiting for is happening (red circle middle). I'm expecting the downward trend to continue deeper into the blue.

A "convergence" is when all of the SMA's come together and create an opposite effect. If a stock is on an upward run and the SMA's converge it will reverse course and vice versa.

Capture.PNG



Let's look at the 5 day chart. You can see the convergence of the SMA's occuring (red circle) and heading for a downward trend.

Capture2.PNG



Here's another look at the 5 day with all of the SMA's creating the upward climb. The 200, 100, 50, and 20 SMA are supporting an upward climb (all in blue). Until the convergence occurs in the image I posted above (red circle).

Capture3.PNG


How long will it go? IDK, we watch and wait.
 
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Threelions

Threelions

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Tmac said:
Why don't you just use a VPN if you like Binance?
Click to expand...
been verified with Coinbase for ages and have only 2 coins left on their exchange. I probably will switch to binance at some point. I like blasting my bank account for pre-approved funds and instantly buying my coin on the dip when I can.

also helping my father-in-law invest (big gold guy) and I’m sure he feels better if we are using the same platform.
 
Arden

Arden

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Binance looks like it has the least expensive fees by a good margin. Going to give them a shot.
 
Tmac

Tmac

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I went to bed at convergence 1. Convergence 2 would've been the time to invest. Convergence 3 continued the upward trend.

Capture.PNG


Crypto's 24 hr trading cycle makes it hard to day-trade, which is typically why I don't watch this ish on a daily basis. At this point we're talking about a difference of $50.

Below is what I want to happen. At the 3 month range we see ETH testing the 50 day SMA (red circles) and I know I'm getting in at a dip. But again, it may not make a difference in the long term, so I'm just kind of fence sitting...

Capture2.PNG
 
LachiusTZ

LachiusTZ

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Want in one hand... Shit in the other.

Anyway, it's harder to really play just charts on it because if the 24 hour cycle like you mentioned, and when it goes it goes fast and sometimes for no discernible reason.

Best thing to do is just buy in over time imo.

If you want in, I've been told this is all actually worthless etc
 
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Rangoth

Rangoth

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I dont understand or trust crypto enough to day trade either, plus fees tend to be high

I look at it as pure long term at this point. I just add more to my investment when i see a “low” and let it keep piling. My goal/hope is that in 5 years bitcoin is 500k and etheruem is god knows what. Put about 1k into random other coins going long too for the fuck of it.

Overall, im up on everything so if i liquidated it would be a huge win but im treating it more like a hail mary 401k ;)
 
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Haus

Haus

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I'm still a neophyte in all this using coinbase, and then also leveraging a metamask wallet and doing some stuff on uniswap and unilayer. I need to get off coinbase, but trying to find a good exchange to use that's officially legal here in Texas. (Otherwise it's VPN time and I pretend to be "Haus in Amsterdam")
 
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Threelions

Threelions

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For what it's worth, I've found it much more enjoyable to set limit buys on the coins I want on Coinbase Pro. That way I don't have to monitor the market 1000x a day ( even though I will look probably 100 times a day anyways ). Most of my purchases the last month or two have happened at 3-4am EST.
 
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Rangoth

Rangoth

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Hindsight is always a bitch but one of the, apparently not so shitty alt coints I bought was filecoin.

I spent 250$ on it at 22.75$ per filecoin....its now over 140$

I read into a little to try and figure out why, sure someone knows more than me but basically you "mine" FileCoin by running a file hosting rig. You get coins for host and you lose coins if you suck at hosting. However it's not really a game the "little guy" can play.

So a few big players bought 20-30k rigs to do this and sure, made awesome coin but there is no way to get involved for most folks. Now here is the kicker and the part I don't fully understand....you not only need the rig and storage space, you need to "stake" FileCoins in order to be a "miner"(basically a cloud hard drive). However there is a limited supply of file coin only rewarded for hosting and bam, you have a chicken vs. egg thing.

Earn filecoins by hosting, but you cant host without coins, so it drives the price up and makes a huge barrier of entry.

No idea when if or how this shit will change so this is one of those fuck me situations where if this were a stock I would take my insane profits and move on or try to catch another dip, etc. But since it's a coin and I dont understand what they will do and how that will affect price(beyond obvious)...and the fact that I only invested 250 so I am only @ x6 or 1.7k, I dont really need that money bad enough to jump ship. I'll ride it like I will bitcoin and ethereum, which is to say until I retire or want to retire.

Mostly I'm just kicking myself for not putting more in :(

For those trading like I would stocks, what do you use? The fucking "fees", both the ones charged by the exchange and the "gas" fees for doing various shit seem so fucking high that in order to make money swings need to move 5% just to cover the fees and make a reasonable profit!

I was looking more into the Binance Staking and Lending system instead as a way to have my idle coins grow. Staking seems safe but of course lending systems are a bit at risk and apparently have been hacked a few times which sucks. I really think the idea of crowd sourced lending is a neat idea and wish someone figured out a safer way to do it.
 
Arden

Arden

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Binance fees are the lowest in the business as far as I could tell when I was investigating it last night. Like 500% less than coinbase, etc.

Also gas fees are presumably going way down in the near future as far as Eth-based stuff goes. I'm personally planning to stake my Eth after 2.0.

Im still trying to read up and learn about a lot of this stuff though.
 
Haus

Haus

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Rangoth said:
Hindsight is always a bitch but one of the, apparently not so shitty alt coints I bought was filecoin.

I spent 250$ on it at 22.75$ per filecoin....its now over 140$

I read into a little to try and figure out why, sure someone knows more than me but basically you "mine" FileCoin by running a file hosting rig. You get coins for host and you lose coins if you suck at hosting. However it's not really a game the "little guy" can play.

So a few big players bought 20-30k rigs to do this and sure, made awesome coin but there is no way to get involved for most folks. Now here is the kicker and the part I don't fully understand....you not only need the rig and storage space, you need to "stake" FileCoins in order to be a "miner"(basically a cloud hard drive). However there is a limited supply of file coin only rewarded for hosting and bam, you have a chicken vs. egg thing.

Earn filecoins by hosting, but you cant host without coins, so it drives the price up and makes a huge barrier of entry.

No idea when if or how this shit will change so this is one of those fuck me situations where if this were a stock I would take my insane profits and move on or try to catch another dip, etc. But since it's a coin and I dont understand what they will do and how that will affect price(beyond obvious)...and the fact that I only invested 250 so I am only @ x6 or 1.7k, I dont really need that money bad enough to jump ship. I'll ride it like I will bitcoin and ethereum, which is to say until I retire or want to retire.

Mostly I'm just kicking myself for not putting more in :(

For those trading like I would stocks, what do you use? The fucking "fees", both the ones charged by the exchange and the "gas" fees for doing various shit seem so fucking high that in order to make money swings need to move 5% just to cover the fees and make a reasonable profit!

I was looking more into the Binance Staking and Lending system instead as a way to have my idle coins grow. Staking seems safe but of course lending systems are a bit at risk and apparently have been hacked a few times which sucks. I really think the idea of crowd sourced lending is a neat idea and wish someone figured out a safer way to do it.
Click to expand...

Yeah, I saw this and it made me shy away from trying to "mine" with Filecoin's environment. I saw Storj, which seemed similar so decided I would take a flyer on it since I had a spare system I was doing other things on which had an empty 2TB drive in it. Figured I would put it in there just to see if it generated anything. 5 days in and I have generated $0.00 , and it estimates that by end of month (7 days in) I will earn $0.01. I suppose it's something that's viable if you have some huge storage pool you aren't using at the moment, but meh....
 
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