Cryptocurrency

[Jog On]

Is Sia still a buy right now, for those of us who don't have any at the moment?

What's your timescale? I'm a forced hodler as my coins are in limbo between Bittrex and desktop wallet - if they ever materialise at all...

It's being discussed widely on the subreddits:

https://www.reddit.com/r/siatrader/

https://www.reddit.com/r/siacoin/

It looks like a typical pump & dump although due to massive liquidity problems and exchange wallets not working the dump part is being delayed.

If you want to hold longer term you need to download their desktop UI wallet - synch their entire blockchain of about 10 GB and 3 days or so of leaving the computer on.

I',m sure its a great business with good fundamentals but the inflexibility of this coin is a huge problem right now. Apparently they are working on another fork and working with exchange devs.

It might just be worth sitting this one out and look on tradingview/coinmarketcap for something cheap that is due a pump and starting to break out.

[Jog On]

I've been reading up on the Bitshares exchange this morning as the decentralised nature appeals.

Unfortunately looks like to trade in coins not native to their bitshare blockchain (i.e. BTS or their smartcurrency such as bitGBP) you need to use one of their partners such as OpenLedger that do offer the other cryptos.

The problem is that for them (OpenLedger et al) to be able to do that they are centralised, so have their own wallets for the respective blockchains for the other cryptos and convert them to IOUs in the form of OPEN.xxx (e.g. OPEN.BTC if you wanted to get some bitcoin via OpenLedger).

So you have to trust Openledger to be able to convert back to real crypto (or fiat) from their OPEN.xxx version when wanting to move out. Therefore a centralised single point of failure if anything happens.

Sounds like a plan B

[scooterscot]

Lovely flag pattern forming on DNT, very likely we're going to see a surge in value in the coming days. Can't say for sure but I'd not be surprised with a 100% return before the end of the month.

[scooterscot]

There was some news yesterday that might have hit these coins:

Visa locks down prepaid cryptocurrency cards, hitting bitcoin and ethereum users | The Independent

More on that story here: https://www.cnbc.com/2018/01/05/some...a-network.html

Wonder what this will mean for Tenx (PAY). Been holding some of this for a while but not yet used it.

[scooterscot]

Is Sia still a buy right now, for those of us who don't have any at the moment?

Wouldn't like to say. Depends on what you think will become of distributed cloud storage. I'm still a hold until the end of the year.

Think new money is looking for plenty cheapness and they see Siacoin as a potential. If Siacoin can do for cloud storage what Ripple does for banking, then hold onto your seats.

[scooterscot]

One stock analyst's $10 trillion bull case for cryptocurrencies


No mention of Siacoin but cloud storage... If the market capital hits $10trillion before 2018 comes to an end I'll charter the private jet to work.

Cryptocurrencies and the blockchain technology underlying them could become a $10 trillion market in 15 years, RBC Capital Markets analyst Mitch Steves says.

That's more than 13 times larger than the roughly $730 billion value of cryptocurrencies today, according to CoinMarketCap.

"By utilizing decentralized computing and opensource software, we see a multi-trillion dollar market emerging," Steves, who also covers semiconductor stocks for RBC, said in a Wednesday report.

He told CNBC in a phone interview that his $10 trillion estimate comes from taking one-third of the roughly $30 trillion in assets held in offshore funds and gold, as investors embrace digital currencies as a new store of value.

Market capitalization of all cryptocurrencies (2013 -2018)



Source: CoinMarketCap

The most well-known digital currency today is bitcoin, which has grown rapidly over the last several months into a cryptocurrency with a market cap of more than $250 billion. Digital currency proponents say the greater potential lies in the blockchain technology behind bitcoin. Blockchain creates a rapid, permanent and open record of transactions between two parties, thereby eliminating the need for a central party, such as a bank.

Bitcoin became the first application of blockchain technology nearly a decade ago, and in the last several years developers have used the technology to create other digital coin systems. Some, like ethereum, allow other developers to easily create applications on the network. Other applications of blockchain technology create tokens that can be used to access the network's services, such as cloud storage or trading.

All these applications can create the next generation of the internet, or a "world computer," the value of which could rise into the trillions of dollars, Steves said in the report.

However, the growth of cryptocurrencies comes with very high risks.

Steves pointed out in his report that many storage systems for bitcoin are hackable, and governments have no incentive to catch thieves of a currency not recognized as legal tender. Transactions are also often easily traceable.

Finally, the RBC analyst noted that some cryptocurrencies as they exist today face challenges of being able to scale, and are subject to cyberattacks or manipulation.

[Agent]

Is Sia still a buy right now, for those of us who don't have any at the moment?

I wouldn’t think so right now, it’s up 125% today! Surly will drop soon.. (although I hope not!!)

[VirtualMonkey]

Go one DOGE....get to 100...please

[scooterscot]

I wouldn’t think so right now, it’s up 125% today! Surly will drop soon.. (although I hope not!!)

Stellar and Siacoin made near identical gains in the market back in May/June before the price collapsed. It's an unusual comparison to make but I think the point is well made and that is new money is shopping for ideas they like, just like it did back in May. IMO history is repeating itself. This has already happened with Litecoin and Ripple. I think Siacoin, DNT and a few others will be next. Especially those coins attached to privacy and decentralised exchanges.

Anyway, consider this:

10 weeks ago Stellar was trading around $0.03 and now it's $0.75 and falling.

If Siacoin is $0.50+ by the end of February you'll be kicking yourself blue. There's a potential 500% gain to be made in 7-9 weeks. Where else are you going to see that opportunity for as long as you're living?

[SeanT]

Go one DOGE....get to 100...please

Septics are awake, it'll be getting dumped now...