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Thread: The hunt for the next bitcoin

  1. #1576  
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    Quote Originally Posted by LarryLegend View Post
    I need help.
    I am buying LiteCoin (that is definite) from a trusted source
    I would like to know where to place when I buy from him (I have Coinbase) and
    -where to store it long term
    -where to move it to deposit into a sports book

    i currently have Coinbase and BlockChain

    oh, and I am not well versed in this.

    Thanks Guys.
    (sorry for double posting
    Where are you buying the litecoin from? If you're gonna receive it on coinbase then why not just buy it from coinbase? Seems pointless to buy it from someone else unless you are getting it at a discount (not sure why he wouldn't just sell it on the open market?)

    I'd be fine keeping LTC on coinbase for the immediate future but if you want you can purchase a trezor off of amazon and use that. There are other ways to store it but that is 1 of the main ways.

    One thing I would recommend is sending it to an exchange like binance or kucoin before moving it to a sportsbook as I've read coinbase can jam up transactions if they feel it is related to sports betting.
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  2. #1577  
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    Pat , my guess is this fell in his lap, last resort / recouping debt perhaps... if he doesn't know about wallets i doubt he has done diligence
    on LTC .. having said that LTC is a very good long term bet albeit very boring to own .. during february / march run when ethereum doubled
    ( gave most back recently) .. ltc only went from 120 to 140 .. it was looking like a stable coin , we joked that it was a usd tether coin
    in crypto form .. now its below 100 .. and even though it most likely hasn't bottomed yet ( btc likely to test 6k again and perhaps 5k )
    if this fell into your lap , lock it up on a cold storage and forget following LTC news .. just stay current with all news related to the
    " lightning network " ( the LDN ) .. the LDN is the best chance at a scaling solution for bitcoin and you settle up your off chain ledger on a
    layer on top of bitcoins blockchain in either LTC or BTC whichever you prefer .. if the LDN grows in adoption you could have a huge lottery ticket in your hand
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  3. #1578  
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    i have never owned LTC .. but have been stalking it all because the LDN
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  4. #1579  
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    Yeah, probably an outstanding debt and the guy gave up his LTC as a last resort as he was hanging by his legs over the Tobin Bridge. So you could say it fell into his lap or the debtor was gonna fall into the ocean.
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  5. #1580  
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    haha

    ... legs over Tobin.
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  6. #1581  
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    defiantly the tobin .. fuck the Zakim
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  7. #1582  
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    BTC atm's popping up all over the country .. the markup is a solid 15 percent .. have to wonder if anyone is using this ..

    yesterday on an atm BTC price was 7,400 market was 6400
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  8. #1583  
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    atm is 3Kish .. really nice .. nothing shabby .. i just can't grasp who would buy at that price .. one of them provides the app on the phone that it downloads into ( the wallet) .. very nicely done .. once again i ask how much volume can their possibly at that markup
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  9. #1584  
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    I could never see investing in any market. Boom days are over. More bags holders created along the way.

    As bitcoin goes bust, one classic market signal is pointing to more pain

    Guest Contributor | Phillip Streible
    CNBC.com











    As bitcoin goes bust, one classic market signal is pointing to more pain


    Bitcoin futures have entered into a contango market, suggesting further agony for the cryptocurrency.
    A contango market means an asset's futures contracts are trading at a premium to its spot price; a market watcher could simply look at the daily settlement price data of the underlying futures contract on a given exchange, then examine the price of the series of months further out. If those prices are more expensive, we have a contango.
    For instance, bitcoin on the Coinbase exchange was trading near $7,898 on Wednesday, while Cboe bitcoin futures contracts expiring in June were trading at $7,980 per coin.

    It is not uncommon see contango markets across other asset classes like grains, metals and energy, and such price action may benefit the hedger who is trying to lock in prices for forward production; in this case, it would be bitcoin miners.
    This comes as bitcoin itself has dropped significantly from its highs late last year, wallowing below $8,000 per coin following a meteoric rise in 2017; bitcoin continues declining from its March highs of $11,700, most recently testing support at $7,700. On Thursday, it was ay $7,490, according to CoinDesk.
    The most recent blow came from an announcement that Twitter would ban cryptocurrency ads. We have seen similar bans by Google and Facebook, as regulatory scrutiny has been another negative catalyst for bitcoin this year.
    Looking ahead, we should continue seeing larger bitcoin miners attempt to take advantage of this contango market. Meanwhile, speculators could see a re-test of the all-time futures contract low of $5,970.
    Ultimately, I would be cautious until we can see some signs of strength injected back into the market.





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  10. #1585  
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    Thank you for the responses guys. Sorry I have not responded sooner. It’s been a very crazy month. I never ended up buying LiteCoin. I guess that was good thing. I still think it will increase in the long run though, but am thankful for your thoughts and info.
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  11. #1586  
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    Quote Originally Posted by Michelangelo View Post
    How come you guys aren't helping LL?
    Thank you Michelangelo
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  12. #1587  
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    Glad to help.

    BTC has been in an extended downtrend since peaking at 19,000 in mid December 2017.

    Need to see a reversal before I'd even consider getting involved in this marketplace.

    Wish I joined a bunch of you a few years ago. But not now.
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  13. #1588  
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    Quote Originally Posted by Ricboff View Post
    looking at the weekly chart, levels of support (zones), if it can't hold this level ;

    - 5900 ish : not strong

    - 4400 ish : not strong

    -2870 ish-- stonger

    -1200 ish


    ideally, bounce off a support, then come back to test and HOLD said support . then break the downward (diagonal line) . This would be a high probability entry point. Just sayin'..

    https://ca.investing.com/crypto/bitcoin/btc-usd-chart

    click '1W' , the weekly chart(the time interval, click the arrow to see '1 Week', then press it)
    update on the chart of BTC;

    above written April 2018, what has it done since?

    well it DID hold $6700ish, with a fantastic rally and came back to test this level-- but broke it (NOT GOOD, yet another lower low), now trying reclaim it, two green candles both higher highs and higher lows. She heads to $7400 before resistance is met. This chart looks terrible, but could have a swing to $7400 or more. A break above $9850 breaks this spiral.
    Pinarello (Paris) 2012 , dura-ace c50, shimano ultegra Di2
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  14. #1589  
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    Just have a quick question.....where does everyone buy their Bitcoin now with a credit or debit card? I usually use Coinbase but I am tired of waiting about 10 to 15 days before it is available to send. I am looking for someplace quick and without too many fees. Thanks in advance.
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  15. #1590  
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    I'm with you on the waiting aspect. It takes 3-5 business days, up to 7-10 calendar days for coinbase account to deposit from my bank account. Coinbase wouldn't let me purchase any btc using credit card last time I checked a month or so ago.
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  16. #1591  
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    Quote Originally Posted by Ricboff View Post
    update on the chart of BTC;

    above written April 2018, what has it done since?

    well it DID hold $6700ish, with a fantastic rally and came back to test this level-- but broke it (NOT GOOD, yet another lower low), now trying reclaim it, two green candles both higher highs and higher lows. She heads to $7400 before resistance is met. This chart looks terrible, but could have a swing to $7400 or more. A break above $9850 breaks this spiral.

    it is at a CRITICAL level ($5800-$6100), currently at the high end of this support level, $6100. The next level of support is at $4500- that's a 26% potential free fall. Incredible carnage ytd
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  17. #1592  
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    wtf?

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  18. #1593  
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    good hold by BTC, it has now increased its dominance of the cyypto world to a staggering 47% of market cap.

    ETH is under stress, it either forms a double bottom or breaks....next few days/week should be telling
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  19. #1594  
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    to add;

    BTC- a move to show hope for the bulls would be for it to NOT break the level it just held (post #1592). Even better to hold current $7000 ish level , consolidate (to form a higher low) ,then break $8250ish (its recent high)-- this pattern would change things . As it is, $6100ish is just a massive level to hold if it heads to re-test
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  20. #1595  
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    Quote Originally Posted by Ricboff View Post
    good hold by BTC, it has now increased its dominance of the cyypto world to a staggering 47% of market cap.

    ETH is under stress, it either forms a double bottom or breaks....next few days/week should be telling
    no fight, breaks...with conviction



    BTC is indeed headed to re-test , at the crossroads. A MUST hold......someone call in the cavalry. She now has 50.8% dominance of the crypto world
    Pinarello (Paris) 2012 , dura-ace c50, shimano ultegra Di2
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  21. #1596  
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    Not looking good. I knew it as soon as mainstream is involved. The sheering of the sheep. BTC $6100/ETH $278. Could we see $0?

    Bitcoin is 'useless as a payment mechanism and ridiculous as a store of value,' ex-****** CEO says


    • Bitcoin will continue to fall, because "there's just no value there," former ****** CEO Bill Harris told CNBC on Tuesday.
    • The former financial technology CEO's primary concerns about bitcoin include its slow transaction time, scaling challenges and volatility.

    https://www.cnbc.com/2018/08/14/ex-*...n-bitcoin.html






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  22. #1597  
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    The mainstream being involved would only really have relevance to its short-term price. You either think it has future utility or you don't.

    If you don't think it has future utility, then it doesn't really matter if Main Street got involved or not.
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  23. #1598  
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    Quote Originally Posted by PatsFan1283 View Post
    The mainstream being involved would only really have relevance to its short-term price. You either think it has future utility or you don't.

    If you don't think it has future utility, then it doesn't really matter if Main Street got involved or not.
    They need Main Stream to be involved. Classic pump and dump. Who do you think the bagholders are?
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  24. #1599  
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    Quote Originally Posted by Motor City Madman View Post
    They need Main Stream to be involved. Classic pump and dump. Who do you think the bagholders are?
    They would need suckers to be involved to monetize the scam if you believe there is one, but whether it has value or not really has nothing to do with mainstreet being involved.

    If you think true intrinsic value is close to nothing, then it's next to nothing. Whether J6P at the bar bought in or not is immaterial to that.
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  25. #1600  
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    GREAT hold by BTC. Gentlemen, we have a clear support level. Came back to re-test and HELD. Where was the cavalry from?..lol.


    https://business.financialpost.com/t...oin-boom-busts

    'Financially ruined': Cryptocurrency investors learn hard lessons after Bitcoin boom busts

    SAN FRANCISCO — Pete Roberts of Nottingham, England, was one of the many risk-takers who threw their savings into cryptocurrencies when prices were going through the roof last winter.
    Now, eight months later, the US$23,000 he invested in several digital tokens is worth about US$4,000 and he is clearheaded about what happened.
    “I got too caught up in the fear of missing out and trying to make a quick buck,” he said last week. “The losses have pretty much left me financially ruined.”
    Roberts, 28, has a lot of company. After the latest round of big price drops, many cryptocurrencies have given back all of the enormous gains they experienced last winter. The value of all outstanding digital tokens has fallen by about US$600 billion, or 75 per cent, since the peak in January, according to data from the website coinmarketcap.com.


    The virtual currency markets have been through booms and busts before — and recovered to boom again. But this bust could have a more lasting impact on the technology’s adoption because of the sheer number of ordinary people who invested in digital tokens over the last year and who are likely to associate cryptocurrencies with financial ruin for a very long time.
    “What the average Joe hears is how friends lost fortunes,” said Alex Kruger, a former banker who has been trading in the cryptocurrency markets for some time. “Irrational exuberance leads to financial overhang and slows progress.”
    It is hard to know how many cryptocurrency investors are now in the red, with holdings worth less than the money they put in. Many who have lost money in recent months had gotten into the markets before the big run-up last year and their holdings are still worth more than their initial investments.
    But by many metrics, more people put money into virtual currencies last fall and winter than in all of the preceding nine or so years. Coinbase, the largest cryptocurrency brokerage in the United States, doubled its number of customers between October and March. The startup Square began allowing the users of its mobile app, Square Cash, to buy bitcoin last November.
    Almost all of the new customers on Coinbase and Square would be in the red if they bought cryptocurrencies at almost any point over the last nine months and held on to them.
    The damage is likely to be particularly bad in places like South Korea and Japan, where there was minimal


    cryptocurrency activity before last year, and where ordinary investors with little expertise jumped in with abandon.
    In South Korea, the biggest exchanges opened storefronts to make investment easier for people who did not feel comfortable doing it online. The offices of one big exchange, Coinone, had just one customer walk in during a two-hour period in the middle of the day last week. An employee, Yu Ji-Hoon, said, “The prices of the digital tokens have fallen so much that people seem to feel upset.”
    Kim Hyon-jeong, a 45-year-old teacher and mother of one who lives on the outskirts of Seoul, said she put about 100 million won, or US$90,000, into cryptocurrencies last fall. She drew on savings, an insurance policy and a US$25,000 loan. Her investments are now down about 90 per cent.
    “I thought that cryptocurrencies would be the one and only breakthrough for ordinary hardworking people like us,” she said. “I thought my family and I could escape hardship and live more comfortably but it turned out to be the other way around.”
    In the United States, Charles Herman, a 29-year-old small business owner in Charleston, South Carolina, became obsessed with virtual currencies in September. He said he now felt that he had wasted 10 months of his life trying to play the markets.


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