Investing

Bitcoin and Ether

  • Last Updated:
  • Nov 22nd, 2017 7:38 pm
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Deal Fanatic
User avatar
Oct 23, 2003
6646 posts
787 upvotes
Could be a small correction but im betting on a bigger one due to a snowball effect. Im waiting to see if it hits $3000USD, though my friends have told me there's a shit ton of BTC buy orders at just under $4000 USD. If it breaks through that support level on the down, next support level might end up being around $3300-3500 USD.

The absolute "bottom" for it imo would be in the $2000 to $2500 range, at which point id buy a ton of it. Realistically though, i dont see it dipping below $3000 USD, and if it does, its a good time to buy (even if it continues falling after).
For now, lets see if it reaches $3500 USD this week.

I bought $1000 CAD at $5100 level because i wanted tome cheap altcoins. Now it looks like i should have waited, and thats why you should only play with money you dont "need" on the daily. In China, ICO fund raising events at 5 star hotels were even attracting grandmothers. It got so out of hand that even seniors were throwing cash at any coin popping up, thinking its a get rich quick thing. Thats why the Gov stepped in (plus the transition coming up next year i believe, in the communist party). China news is a "pause/halt" on ICOs, not an outright ban, so read between the lines.

Also I loved that JP Morgan CEO. "Bitcoin is a fraud...but im not willing to short it with my own money" lol. You know he's buying bitcoin on the down-lo when it tumbles. Also, bitcoin is based on fiat cash infusions, otherwise it would still be worth 0.01 cents...Thats why its so volatile. Up and down swings galore.

https://www.coindesk.com/correction-not ... e-profits/

https://www.cnbc.com/2017/09/12/bitcoin ... t-now.html

https://www.coindesk.com/bitcoin-finds- ... -breakout/

Im hoping for a complete market crash to the $2000 level personally. Even though I'm technically losing money now, the red nnumberssss bring a smile to my face. The bigger the better.
Deal Addict
Jun 21, 2008
2206 posts
238 upvotes
Toronto
Buggy166 wrote:
Sep 13th, 2017 1:35 pm
Could be a small correction but im betting on a bigger one due to a snowball effect. Im waiting to see if it hits $3000USD, though my friends have told me there's a shit ton of BTC buy orders at just under $4000 USD. If it breaks through that support level on the down, next support level might end up being around $3300-3500 USD.

The absolute "bottom" for it imo would be in the $2000 to $2500 range, at which point id buy a ton of it. Realistically though, i dont see it dipping below $3000 USD, and if it does, its a good time to buy (even if it continues falling after).
For now, lets see if it reaches $3500 USD this week.

I bought $1000 CAD at $5100 level because i wanted tome cheap altcoins. Now it looks like i should have waited, and thats why you should only play with money you dont "need" on the daily. In China, ICO fund raising events at 5 star hotels were even attracting grandmothers. It got so out of hand that even seniors were throwing cash at any coin popping up, thinking its a get rich quick thing. Thats why the Gov stepped in (plus the transition coming up next year i believe, in the communist party). China news is a "pause/halt" on ICOs, not an outright ban, so read between the lines.

Also I loved that JP Morgan CEO. "Bitcoin is a fraud...but im not willing to short it with my own money" lol. You know he's buying bitcoin on the down-lo when it tumbles. Also, bitcoin is based on fiat cash infusions, otherwise it would still be worth 0.01 cents...Thats why its so volatile. Up and down swings galore.

https://www.coindesk.com/correction-not ... e-profits/

https://www.cnbc.com/2017/09/12/bitcoin ... t-now.html

https://www.coindesk.com/bitcoin-finds- ... -breakout/

Im hoping for a complete market crash to the $2000 level personally. Even though I'm technically losing money now, the red nnumberssss bring a smile to my face. The bigger the better.
Someone's definitely long on BTC loll

Yea I had some BTC kicing around when I bought at the ATH of 5800 CAD when I was a noob and when it reached the 5100 level I pretty much bought some OMG with it because I didn't want the value to drop further.

But I've noticed all the other altcoins dropped in value as well so it looks like it didn't matter when I traded, in fact, I thought that if BTC dropped then I'd be buying less OMG with it but it looks like when BTC drops, the altcoins drop, and even though I lost money per BTC each BTC buys MORE altcoins...weird.

I'm waiting for BTC to drop to the 3000-3500 USD level too
Deal Addict
Jun 21, 2008
2206 posts
238 upvotes
Toronto
Anyway I don't know about QuadrigaCX honestly - the market seems to be less busy and so the prices are always higher than the global market values

That could be good if you want to sell for fiat but not if you want to buy...

*Edit: and it's called a premium!

How's Kraken?
Jr. Member
Jan 15, 2010
120 posts
99 upvotes
Toronto
The inflated Quadriga prices bother me as well but I've kept putting up with it.
Deal Addict
User avatar
Aug 24, 2005
1217 posts
126 upvotes
Oakville
ADRiiAN` wrote:
Sep 12th, 2017 11:14 am
Finally got my Nano Ledger S. Tested both Litecoin and Ethereum and successful! Moved all my coins off Coinbase and I feel real good about it!
Did you get yours locally or through their website?
Deal Addict
User avatar
Sep 19, 2014
1116 posts
115 upvotes
T-DOT wrote:
Sep 13th, 2017 9:50 pm
Did you get yours locally or through their website?
I would recommend getting hardware wallets from their official website. Can you imagine buying one second hand and realizing there might be some exploits/malware in it?
Deal Addict
User avatar
Sep 19, 2014
1116 posts
115 upvotes
Ticco wrote:
Sep 13th, 2017 2:14 pm
Anyway I don't know about QuadrigaCX honestly - the market seems to be less busy and so the prices are always higher than the global market values

That could be good if you want to sell for fiat but not if you want to buy...

*Edit: and it's called a premium!

How's Kraken?
Forget about Kraken unless you're ready to wait at least 12 BUSINESS working days. The one and only time I tried with them thinking I could save on conversion fees, I ended up missing the entire dip altogether!

I suggest going with Bitstamp instead and sending in USD. Premiums are reasonable.
Deal Addict
User avatar
Aug 24, 2005
1217 posts
126 upvotes
Oakville
Alt1ma wrote:
Sep 13th, 2017 9:55 pm
I would recommend getting hardware wallets from their official website. Can you imagine buying one second hand and realizing there might be some exploits/malware in it?
Good point!
Deal Addict
Jun 21, 2008
2206 posts
238 upvotes
Toronto
So how low do people think this is going - there has even been any "official" statements out of China yet. Just some leaks and one exchange saying they'll be ceasing trading at end of month...bigger drops to come or what?
Deal Addict
Feb 22, 2007
1358 posts
159 upvotes
Toronto
Sorry about the noob question.

I've been reading about offline wallets and I'm still somewhat confused. How exactly does an offline wallet work? Can people still transfer to the "offline" wallet or do you have to temporary bring it online to transfer and once the transfer is complete you take it offline?

If you have a online wallet, how would you take it offline?

I've also been reading about hardware wallets. Are these battery operated?
Newbie
Feb 1, 2017
67 posts
22 upvotes
Ticco wrote:
Sep 14th, 2017 9:34 am
So how low do people think this is going - there has even been any "official" statements out of China yet. Just some leaks and one exchange saying they'll be ceasing trading at end of month...bigger drops to come or what?
The rest of the world is keeping Bitcoin up while China dumps. Wait until China wakes up to see what direction it goes.

If it keeps dropping it could possibly drop to the upper $2000 USD level.
Member
Sep 28, 2010
472 posts
100 upvotes
Surrey
realg123 wrote:
Sep 14th, 2017 9:49 am
Sorry about the noob question.

I've been reading about offline wallets and I'm still somewhat confused. How exactly does an offline wallet work? Can people still transfer to the "offline" wallet or do you have to temporary bring it online to transfer and once the transfer is complete you take it offline?

If you have a online wallet, how would you take it offline?

I've also been reading about hardware wallets. Are these battery operated?
I'm new as well but I believe an offline wallet is something like Exodus, where as the coins sit on you're desktop. You need an internet connection to put money in, and take it out. A cold storage wallet is better Imo, something like a ledger nano s. That wallet is not battery powered, but only works via a USB power source. Anyone with more knowledge feel free to correct me if I'm wrong?
Member
Nov 13, 2011
415 posts
123 upvotes
Vancouver, BC
Fiat currency is backed by trust in the countries distributing it... what is bitcoin backed by?
Deal Addict
User avatar
Mar 16, 2010
1561 posts
682 upvotes
Hamilton
darkcloud8282 wrote:
Sep 14th, 2017 10:58 am
Fiat currency is backed by trust in the countries distributing it... what is bitcoin backed by?
The distrust in the countries issuing fiat.

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