Cryptocurrency

[psychocandy]

Go Siacoin! (And holly feck what the feck?)

This is getting stupid, I'm well chuffed with performance of last month don't get me wrong but the last couple of weeks have been insane. Time to start shopping for a London Pied-à-terre. Should I wait until Corbyn gets in?

Yep. I got a few $100 worth of this at 1.4c so its done well. Buying a few random ones and holding seems to work.

I just havent worked out yet when to see and take the profit or hold even longer.

[psychocandy]

What r ur transaction fees ?

Bitcoin fees 'av gone so far through the roof over the last month they've 'killed' the currency as a 'day2day' purchase option.
Small/test Bitcoin purchases are also hacked savagely by the 'horrendous' fees.

"Coinbase just charge me $14 in fees to send $50."
"Can you explain why it's so much? Coinbase is asking a $12 dollar fee for a $6 transaction. What the hell?"
"Its crazy this fees! I sent yesterday 63€ and the tax was 7,80€ like 15%."
"Same here and it keeps going up. $7 fee yesterday ,$14 today."

Bitcoin Avg. Transaction Fees
01 Jan 2017 $0.35
24 Aug 2017 $7.9
12 Nov 2017 $19.19
9 Dec 2017 $21.56
21 Dec 2017 $54.09
6 Jan 2018 $32.49

"Bitcoin .. it's become too expensive to use in small transactions."
"Mining fees are skyrocketing"
An overloaded network has led to surging bitcoin transaction fees - Business Insider

ETH/LTC fees are still 'low'.

$32 in fees is way too high to be honest....

[merseygrit]

Send it to me via faster payment and I'll send you the BTC equivalent tonight if you like.

PM

[Hobosapien]

Send it to me via faster payment and I'll send you the BTC equivalent tonight if you like.

Isn't that basically what happens when using services such as localbitcoins, punter bank transfers to seller and service holds funds in escrow until buyer confirms the BTC has been received?

So there will be the typical transaction fee for moving between BTC wallets, making small 'test' amounts unpalatable?

I've seen similar services for other crypto, most notably localethereum.com, but not checked if they're as 'reliable' even if the potential transaction fees may be less.

Been looking into this for my idea of just getting some local wallets set up and buying the respective crypto for medium term holding of the top players so far, while waiting for more exchanges to come online or re-start accepting new punters, to then start trading/gambling with the alts.

Edit: Though looking at the feedback on localbitcoins, such as "very fast only took minutes", I have a feeling the seller/buyer transfer is handled within the localbitcoins service and doesn't touch the BTC blockchain. The blockchain and subsequent fee happens when moving it away from localbitcoins onto an exchange etc. So while in the localbitcoins wallet it's not really your BTC officially on the blockchain. I may be wrong but that's the impression I get.

[Murder1]

If you use CoinMarketCap to monitor prices be aware it looks as though there are now some exclusions in place on South Korean exchanges due to them trading consistently higher than anywhere else. This is what appears to have caused the sharp drop in price earlier this morning:

https://coinmarketcap.com/currencies/ripple/#markets

[Jog On]

A lot of red today (except for a couple of alts). Is this based on China crackdown on BTC mining?

[scooterscot]

Isn't that basically what happens when using services such as localbitcoins, punter bank transfers to seller and service holds funds in escrow until buyer confirms the BTC has been received?

So there will be the typical transaction fee for moving between BTC wallets, making small 'test' amounts unpalatable?

I've seen similar services for other crypto, most notably localethereum.com, but not checked if they're as 'reliable' even if the potential transaction fees may be less.

Been looking into this for my idea of just getting some local wallets set up and buying the respective crypto for medium term holding of the top players so far, while waiting for more exchanges to come online or re-start accepting new punters, to then start trading/gambling with the alts.

Edit: Though looking at the feedback on localbitcoins, such as "very fast only took minutes", I have a feeling the seller/buyer transfer is handled within the localbitcoins service and doesn't touch the BTC blockchain. The blockchain and subsequent fee happens when moving it away from localbitcoins onto an exchange etc. So while in the localbitcoins wallet it's not really your BTC officially on the blockchain. I may be wrong but that's the impression I get.

Think Loopring will get much attention this year... https://loopring.org/en/index.html

Although not yet ready I do believe decentralised exchanges will be a feature of 2018 with online exchanges loosing out.

[scooterscot]

A lot of red today (except for a couple of alts). Is this based on China crackdown on BTC mining?

Diversification rocks... The impact to my overall portfolio today has been minimal, which really surprises me given the amount of red.

If there's one thing worth remembering it's don't go all in on one or two coins.

[Jog On]

Diversification rocks... The impact to my overall portfolio today has been minimal, which really surprises me given the amount of red.

If there's one thing worth remembering it's don't go all in on one or two coins.

Same here - Most of my coins are down double digits but there a couple that are flying so much it's averaged out around breakeven

[SeanT]

Impact to mine is pretty big, even though I'm spread across 20 or more coins!