Cryptocurrency Master Thread

[The Big Train]

https://www.reddit.com/r/NEO/comments/7kdyzf/attention_new_investors_holding_neo_generates_gas/

I thought this was cool.  Part of the reason a bought a little.

I’m assuming NEO gas works the same way as it does on the Ethereum network?  Except that on Ethereum the gas price is paid with ETH.

I think so.  Seemed like a good deal.  Definitely want to hold it in a wallet and not on the exchange to make sure you get your GAS.

Just as clarification for everyone else, gas is the price you pay to send transactions or execute smart contracts on the Ethereum network.  It’s about the equivalent of mining fees on BTC or LTC.  Once MAST(smart contracts) are implemented on BTC and LTC more layer 2/3 applications will be able to be built on them too.

https://www.cryptocompare.com/coins/guides/what-is-the-gas-in-ethereum/

[Fake Sugar Dick (WARNING, NOT THE REAL SUGAR DICK!)]

So, the industry trade group for "cryptocurrency" is called "New Alchemy".  How AMAZE apt. 

[ben ji]

A little over two months ago if you said the prices would be where they are right now after this correction, I would have called you crazy.  The exponential increase since Thanksgivingish when the market was flooded with inexperienced traders is a big part of the reason this is happening.  The craze and potential for a perceived get rich quick because it's never going to stop going up is settling in.  These prices have been way over what most of these coins should be worth.  This shakeout will be great long term but sucks for new people within the past few months.

Thanksgivingish is when my dad told me he bought into some Bitcoin. I should of posted it here so everyone knew it was time to get out.

His timing is impeccable.

[The Big Train]

A little over two months ago if you said the prices would be where they are right now after this correction, I would have called you crazy.  The exponential increase since Thanksgivingish when the market was flooded with inexperienced traders is a big part of the reason this is happening.  The craze and potential for a perceived get rich quick because it's never going to stop going up is settling in.  These prices have been way over what most of these coins should be worth.  This shakeout will be great long term but sucks for new people within the past few months.

Thanksgivingish is when my dad told me he bought into some Bitcoin. I should of posted it here so everyone knew it was time to get out.

His timing is impeccable.

Well hopefully he didn’t lose a lot of money.  If he would have bought in when I told you to buy in he would have bought you a lambo.

[The Big Train]

Doing some research for a project and came across this article.  Even tho it's over 6 years old some of the same things and concerns apply today.  Cool to look back and see how things have evolved and how exchanges like Mt. Gox are still functional before history takes over.

https://www.wired.com/2011/11/mf_bitcoin/

[Fake Sugar Dick (WARNING, NOT THE REAL SUGAR DICK!)]

Unsurprised by who is fixated on alchemy

[XocolateThundarr]

Been thinking about buying a license or this bot and pairing it with profit feeder.  Would really like to get it running with a grand of stake money and see what happens.....

https://profittrailer.com/

[Phil Titola]

Been thinking about buying a license or this bot and pairing it with profit feeder.  Would really like to get it running with a grand of stake money and see what happens.....

https://profittrailer.com/

Isn't that a tax reporting nightmare?

[XocolateThundarr]

Been thinking about buying a license or this bot and pairing it with profit feeder.  Would really like to get it running with a grand of stake money and see what happens.....

https://profittrailer.com/

Isn't that a tax reporting nightmare?

Probably....I'm still struggling with how the IRS is going to track all of the trades performed in a year.  Seems to me, the only information that they will have will be what Coinbase reports on a 1099 and what you report as your basis.  I'm probably wrong and have read a few articles on the issue, but it still doesn't seem like the IRS has fully figured it out either.

[The Big Train]

Been thinking about buying a license or this bot and pairing it with profit feeder.  Would really like to get it running with a grand of stake money and see what happens.....

https://profittrailer.com/

Isn't that a tax reporting nightmare?

Probably....I'm still struggling with how the IRS is going to track all of the trades performed in a year.  Seems to me, the only information that they will have will be what Coinbase reports on a 1099 and what you report as your basis.  I'm probably wrong and have read a few articles on the issue, but it still doesn't seem like the IRS has fully figured it out either.

They’ve been talking about the under $600 threshold since September and I hope they pass it.

https://www.cnbc.com/2018/01/25/if-you-own-bitcoin-heres-how-much-you-owe-in-taxes.html

[The Big Train]

Which depending on how it’s worded if you had to move more than $600 you could just do as many $599 transactions as it took.

[yoga-like_abana]

Whats the longest you guys have gone w/o looking at what's going on with crypto. I finally caved today but I made it about a week

[wetwillie]

A few minutes

[8manpick]

I am in the game!    

[The Big Train]

What did you pop your crypto cherry with?

[8manpick]

What did you pop your crypto cherry with?

Well I've got a wire transfer on the way to take advantage of lower fees than, but I bought some XRP at 0.887 to tide me over.

[The Big Train]

What did you pop your crypto cherry with?

Well I've got a wire transfer on the way to take advantage of lower fees than, but I bought some XRP at 0.887 to tide me over.

Do you already have a wallet set up?

[8manpick]

What did you pop your crypto cherry with?

Well I've got a wire transfer on the way to take advantage of lower fees than, but I bought some XRP at 0.887 to tide me over.

Do you already have a wallet set up?

Only the one I set up in 2014 and never used and don't have access to anymore...

any suggestions?

[The Big Train]

What did you pop your crypto cherry with?

Well I've got a wire transfer on the way to take advantage of lower fees than, but I bought some XRP at 0.887 to tide me over.

Do you already have a wallet set up?

Only the one I set up in 2014 and never used and don't have access to anymore...

any suggestions?

I mean a ledger nano or Trezor are best but there are some decent apps you can get for your phone. I don’t remember what kind of phone you have.

[wetwillie]

Great job buying ripple, should be driving lambos in no time at all.

[8manpick]

What did you pop your crypto cherry with?

Well I've got a wire transfer on the way to take advantage of lower fees than, but I bought some XRP at 0.887 to tide me over.

Do you already have a wallet set up?

Only the one I set up in 2014 and never used and don't have access to anymore...

any suggestions?

I mean a ledger nano or Trezor are best but there are some decent apps you can get for your phone. I don’t remember what kind of phone you have.

I'm a Steve Jobs agendite

[The Big Train]

What did you pop your crypto cherry with?

Well I've got a wire transfer on the way to take advantage of lower fees than, but I bought some XRP at 0.887 to tide me over.

Do you already have a wallet set up?

Only the one I set up in 2014 and never used and don't have access to anymore...

any suggestions?

I mean a ledger nano or Trezor are best but there are some decent apps you can get for your phone. I don’t remember what kind of phone you have.

I'm a Steve Jobs agendite

Good man.  Toast Wallet works well enough.  I will caution if you buy a lot of it it’s better to get a hardware wallet, or split it up into multiple addresses.

[XocolateThundarr]

Bought the bot you guys.  I will report back how it's going once it is up and running.  I'm waiting on Binance to fix their issues before I bring it online.

[The Big Train]

Bought the bot you guys.  I will report back how it's going once it is up and running.  I'm waiting on Binance to fix their issues before I bring it online.

Is it like a standalone program or is it a web interface you input your price points?

[XocolateThundarr]

Bought the bot you guys.  I will report back how it's going once it is up and running.  I'm waiting on Binance to fix their issues before I bring it online.

Is it like a standalone program or is it a web interface you input your price points?

https://profittrailer.com/

This is it.  Also bought an add-in that adjusts buy and sell points based on real time market conditions.  From what I have read and heard, it should minimize the number of bags you have to hold.