Cryptocurrencies

What cryptocurrencies do you use/own?

  • Bitcoin (XBT)

    Votes: 30 27.8%

  • Ether (ETH)

    Votes: 16 14.8%

  • Litecoin (LTC)

    Votes: 15 13.9%

  • Peercoin (PPC)

    Votes: 0 0.0%

  • Dash (DASH)

    Votes: 3 2.8%

  • Dogecoin (XDG)

    Votes: 4 3.7%

  • Blackcoin (BLK)

    Votes: 0 0.0%

  • Zcash (ZEC)

    Votes: 3 2.8%

  • Other

    Votes: 14 13.0%

  • None

    Votes: 69 63.9%
  • Total voters
    108
LoL stock market took a beating largest point drop ever and Asian markets followed this was due to computer auto trading caused a domino effect triggering an avalanche of sells this is what happens when computers run stuff like this or is someone controlling the markets...
Seems someone or group of very wealthy people are pulling out all their money at once the whole markets of the world did the same i don`t think it is a coincidence.
 
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fencepost said:
Beware, that way lies madness (and bankruptcy if you're sloppy). Trying to time the market has a long history, regardless of the market (or the horse).
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It's certainly very risky for short-term investors or those hoping to make a quick return. And I think the latest new wave of investors who pushed the price up to $20K learned that the hard way (as this article I posted suggested).

What you quickly begin to learn when you've been watching and investing in cryptocurrencies for a while, is that all this 'HODL' crap, as immature as it may sound, actually makes a lot of sense. Much of my cryptocurrency purchases (using fiat currency) were made when Bitcoin was just a few hundred Dollars (oh, how I wish I'd bought more!). While I've used/sold small amounts along the way (meaning I've already taken back my original investment, and then some), I continue to hold and buy in every dip. I bought in the dip in September and I bought again in the very recent dip. While it's been an absolute frikkin' roller coaster ride at times, watching the value of my investment swing massively, overall it keeps going up and up, to that point that some of my investments have now increased in value 100-fold or more. And, while I've no reason to believe my portfolio won't continue to grow in value, if it crashed to zero tomorrow I will have lost nothing.

Buy, Mine, Hodl, Repeat ...
 
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Diggs said:
Do you think things could be distorted by some of today's super-computers? These guys in Russia (nuclear lab) were going to try but got caught.

http://www.bbc.com/news/world-europe-43003740
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I read about that. Made me laugh. Sounds like a bunch of scientists just decided to try mining with their 'work computer'. Can't blame them for trying I suppose. :D

I have no idea what that super computer's hash rate is but, considering it wasn't designed specifically to mine cryptocurrencies, I suspect it wouldn't even match the hash rate of a medium sized ASIC mining farm, and there are already thousands of those. So, on the scale of things, I guess a super computer such as this suddenly mining Bitcoin would have minimal impact on the total hash rate of the network.
 
Funny Name or Not, Schnorr Is Becoming a Big Deal for Bitcoin
Link: https://www.coindesk.com/schnorr-signatures-explained-bitcoin-tech/

Called Schnorr signatures, the technology looks to replace bitcoin's existing signature scheme with one that mashes signature data together. The concept is so attractive partly because it clears up space in the blockchain, which should help resolve both the transaction backlog and high fees bitcoin users sometimes need to deal with.

According to developers working on the technology, the change would lead to an estimated 25 percent to 30 percent boost in bitcoin's transaction capacity.
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Microsoft Weighs In On Bitcoin, Crypto Scaling Debates
Link: http://www.ibtimes.com/microsoft-weighs-bitcoin-crypto-scaling-debates-2653024

Out of all the established tech industry giants, Microsoft has already developed one of the most crypto-friendly reputations. It started supporting bitcoin payment options in 2014, then doubled down on blockchain technology in 2017 by announcing a new Coco Framework for enterprise users. Last year Microsoft also started developing another blockchain-based platform with Israel’s largest bank, Bank Hapoalim, and joined the ID2020 Alliance, a global initiative with both private companies and public organizations working to make digital identities for people who lack identity documents. If Microsoft seemed bullish before, better hold on to your hat. Now it’s clear Microsoft is just getting started.
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Tax-Free Ways to Transfer Bitcoin and Other Crypto: Expert Take
Link: https://cointelegraph.com/news/tax-free-ways-to-transfer-bitcoin-and-other-crypto-expert-take
Despite recent corrections in crypto markets, you might have some big gains in Bitcoin and other cryptocurrencies. But taxes are an ever-present danger, and it is clear that the Internal Revenue Service (IRS) is looking for reporting. With all the worry about so-called 1031 tax-free exchanges that can no longer be used for cryptocurrency, are there any other ways to transfer your crypto without triggering taxes? Here are some ideas, each way has pluses and minuses.
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A Dazzling History of Bitcoin’s Ups and Downs
Link: https://cointelegraph.com/news/a-dazzling-history-of-bitcoins-ups-and-downs

GEXDtEC.jpg

Bitcoin is perpetually rising and falling in relative fiat value, and even early 2018’s 70% decline isn’t surprising, nor is it the worst ever witnessed. Even amidst the most sickening of freefalls, experienced traders remain unfazed, because they’ve been there before. Holding through a correction is almost a rite of passage for cryptocurrency investors, and the group’s most experienced veterans have endured more than their fair share over the years.
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Misconceptions about Lightning Network

 
New Bitcoin Code Will Finally Boast Full SegWit Support
Link: https://www.coindesk.com/bitcoins-new-code-will-finally-boast-full-segwit-support/

Most of the time when Bitcoin Core introduces new changes to the cryptocurrency's code, the loose group of volunteer developers simply combine disparate optimizations together. But this coming code release, 0.16.0, the sixteenth "major release" since bitcoin began, is a bit different.

Set to launch in the coming days, the updates all revolve around SegWit - with most focusing on making it easier to send SegWit-style transactions from the software's default wallet.

So, while the first software rollout of SegWit was about making sure the network understood the new rules, 0.16.0 is all about making it possible for users to take advantage of their benefits.
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Why Bitcoin Fees Are Down Again and What It Means
Link: https://www.coindesk.com/bitcoin-low-fees-why-happening-why-matters/
$26 down to $3.

The average cost of sending a bitcoin transaction is cheaper than it's been in a year and a half, showing the price isn't the cryptocurrency's only unpredictable metric these days.

But with all the debate about growing fees, this might come as a surprise. After all, it wasn't so long ago that fees were so high a group of prominent investors and miners created a whole new version of bitcoin mostly to keep fees lower.
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I thought this article was a good read, especially coming from a mainstream media source. It raises quite a few valid points ...

Five reasons 2018 could be the best year yet for cryptocurrencies
Link: https://www.cnbc.com/2018/02/23/bit...ocurrency-five-positive-factors-for-2018.html
In an earlier piece for CNBC, I explained why a potential cryptocurrency bubble could burst in 2018. Many people asked me afterward: If I'm so skeptical about the space, why am I invested in it?

Let me clarify. I'm someone who always calculates the potential upsides and downsides, and I think many people take unnecessary risks: They either invest too much or too little because they don't do proper analysis.

So I want to highlight five reasons why 2018 might be the best ever year for cryptocurrencies and why I'm heavily invested in them.
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Diggs said:
I suppose a home heater was a natural extension of mining hardware - pffffft!

https://www.engadget.com/2018/03/09/qarnot-qc1-cryptocurrency-heater-rig/
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That's quite neat. I hadn't seen that one before. There have been a few attempts to develop mining heaters, such as this one from Russia or this domestic mining 'boiler' from Ukraine.

Miner/heaters make a lot of sense, especially in colder climates. They use no more energy than an equivalent electric heater would and usually earn at least twice what they cost to run. My own house has been heated entirely by miners this winter, which have kept the place toasty warm. The main challenge with using miners as heaters is finding a way to make them quiet enough.
 
1 Bitcoin equals = 8,740.00 US Dollar

I was in a chat room the other day and people were talking about mining. One guy turned off his machine because it is no longer profitable for him.
 
In winter, one really has to consider electricity costs. If you happen to have electric heating, to continue mining is effectively free. For other modes of heating, mining offsets heating costs to some extent, depending on electricity/gas/whatever pricing in your area.
 
Precisely. It also depends whether you're mining for immediate profit or you're mining to invest.

If you're on a tight budget and need to continuously cash-in your profits to pay the electricity bill, then it makes sense to stop mining whenever it becomes unprofitable. However, if you're a 'hodler' and mining to accumulate you shouldn't take too much notice of the relative dollar price. I've been mining now for probably around 2 years. There have been times when profitability was very low, relative to what BTC was worth (in fiat) at the time, but I kept mining regardless. What seemed like tiny earnings back then have grown to be worth significantly more, meaning that, retrospectively, the mining was actually very profitable indeed.

Another interesting point to consider is that it's all kind of self-regulating. Whenever mining becomes unprofitable, miners either stop mining or stop selling. If enough miners stop mining, mining difficulty will eventually reduce, making mining more profitable. If enough miners stop selling, prices should rise, due to supply and demand, again making mining more profitable.
 
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