Bitcoins - fad or trend?

Discussion of all things crypto and blockchain.
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natsb88
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Re: Bitcoins - fad or trend?

Postby natsb88 » Fri Jan 12, 2018

natsb88 wrote:
SilverDoge wrote:GDAX is creating a "limit only" mode...

‘Limit-Only’ Mode

GDAX is introducing a new market state: ‘limit-only’. In this state, customers will only have the ability to place limit orders and cannot place market orders. This ensures customers have full control of the fill price by only allowing orders with an explicitly set limit.

Limit-only mode will be included in our process for opening a new market:

Market opens in ‘post-only’ mode. Customers can post and cancel orders on the book, but no matching may occur.
Market enters ‘limit-only’ mode. Orders will begin matching, but no market orders can be placed.
Market enters ‘full trading’ mode. Both market and limit orders will be accepted.
The decision to move a market from ‘post-only’ to ‘limit-only’ to ‘full trading’ mode is made at the discretion of our Market Operations team. When making this decision we consider factors such as order book liquidity and price volatility.

https://blog.gdax.com/market-structure-update-2650072c6e3b

I interpreted this as a new intermediate step when they add new coins to GDAX. The new market starts with post-only, then moves to limit-only when they feel there are enough orders to start trading, then moves to full trading when they feel the price has settled down enough to turn on the market button.

I don't see any mention of reverting a full trading market back to limit-only trading.

That would make sense for this:

gdax-bch-btc.JPG
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SilverDoge
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Re: Bitcoins - fad or trend?

Postby SilverDoge » Fri Jan 12, 2018

Bucketeer wrote:Hmmm.....that makes some sense. Market orders are foolish orders anyway.


Well, if everybody on the market only had limit orders out there, nobody would be doing any actual trading. Somebody has to be on the "taker" side. :lol:
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Fri Jan 12, 2018

ZH: Mnuchin: "We Want To Make Sure Bad People Can't Use Bitcoin To Do Bad Things"
https://www.zerohedge.com/news/2018-01-12/mnuchin-we-want-make-sure-bad-people-cant-use-bitcoin-do-bad-things
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Re: Bitcoins - fad or trend?

Postby texmex66 » Fri Jan 12, 2018

Kraken Exchange been down for nearly 48hrs due to upgrade.

https://cointelegraph.com/news/kraken-d ... ng-service

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Re: Bitcoins - fad or trend?

Postby Bucketeer » Fri Jan 12, 2018

Gentlemen prefer Engelhard.

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Re: Bitcoins - fad or trend?

Postby Bucketeer » Sat Jan 13, 2018

ZH:New Survey Reveals Staggering Number Of People Are Buying BitCoin On Their Credit Cards.

It's all good as long as Bitcoin rises.....Credit card buyers are weak-hands.

https://www.zerohedge.com/news/2018-01-11/new-survey-reveals-staggering-number-people-are-buying-bitcoin-their-credit-cards
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Sat Jan 13, 2018

Gentlemen prefer Engelhard.

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SilverDoge
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Re: Bitcoins - fad or trend?

Postby SilverDoge » Sat Jan 13, 2018

Bucketeer wrote:ZH:New Survey Reveals Staggering Number Of People Are Buying BitCoin On Their Credit Cards.

It's all good as long as Bitcoin rises.....Credit card buyers are weak-hands.

https://www.zerohedge.com/news/2018-01-11/new-survey-reveals-staggering-number-people-are-buying-bitcoin-their-credit-cards


Disagree. Sometimes it is the quickest and easiest way to get your foot in the door. If you pay off your CC each month, the only difference is a slight premium in purchase price. One should NOT be accumulating debt to buy crypto.

That said, I just heard that Capital One has put a stop to all crypto currency purchases. Can't confirm yet, but wouldn't be overly surprised. They don't want to fund the platform that will be their demise.
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Re: Bitcoins - fad or trend?

Postby SilverDoge » Sat Jan 13, 2018

Bucketeer wrote:ZH: Is Bitcoin Racist?
https://www.zerohedge.com/news/2018-01-12/bitcoin-racist


:lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol:

Moron alert! Math & code are racist!?!?!?

This author is either a banker or a communist. The communist also does not like the crypto space because the issuance of money, and specifically the ability to monitor and track every purchase of the citizenry is the ultimate control. The communist does not want people to take that control back from a central authority. This is also how you know the communist does not truly care about the "little guy", and only power & control. Crypto gives the power back to the common man.
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Long John
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Re: Bitcoins - fad or trend?

Postby Long John » Sat Jan 13, 2018

SilverDoge wrote:
Bucketeer wrote:ZH:New Survey Reveals Staggering Number Of People Are Buying BitCoin On Their Credit Cards.

It's all good as long as Bitcoin rises.....Credit card buyers are weak-hands.


Disagree. Sometimes it is the quickest and easiest way to get your foot in the door.

For real. I bought Bitcoin with a CC once or twice and avoided it thereafter because Coinbase charged a 4.9% fee. Bitcoin was like $1250 at the time. Big difference that fee made in the long run, huh?
Last edited by Long John on Sat Jan 13, 2018, edited 1 time in total.

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SilverDoge
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Re: Bitcoins - fad or trend?

Postby SilverDoge » Sat Jan 13, 2018

This website shows a couple graphs depicting the median BTC transaction value is between $4,000 - $5,000, and the average is around $75,000. :shock:

https://ekerstein.com/bitcoin/
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chris6084
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Re: Bitcoins - fad or trend?

Postby chris6084 » Sat Jan 13, 2018

SilverDoge wrote:
Bucketeer wrote:ZH:New Survey Reveals Staggering Number Of People Are Buying BitCoin On Their Credit Cards.

It's all good as long as Bitcoin rises.....Credit card buyers are weak-hands.

https://www.zerohedge.com/news/2018-01-11/new-survey-reveals-staggering-number-people-are-buying-bitcoin-their-credit-cards


Disagree. Sometimes it is the quickest and easiest way to get your foot in the door. If you pay off your CC each month, the only difference is a slight premium in purchase price. One should NOT be accumulating debt to buy crypto.

That said, I just heard that Capital One has put a stop to all crypto currency purchases. Can't confirm yet, but wouldn't be overly surprised. They don't want to fund the platform that will be their demise.



Agreed. When I bought my first crypto, I used credit card and had it instantly. I didn't have to wait for funds to transfer. The higher fee sucked, but I thought it was worth it. Of course, you have to pay off the credit card balance in full for it to be worth it. Plus, a cash back credit card helps to reduce the pain from the fees.

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chris6084
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Re: Bitcoins - fad or trend?

Postby chris6084 » Sat Jan 13, 2018

SilverDoge wrote:
Bucketeer wrote:ZH: Is Bitcoin Racist?
https://www.zerohedge.com/news/2018-01-12/bitcoin-racist


:lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol:

Moron alert! Math & code are racist!?!?!?

This author is either a banker or a communist. The communist also does not like the crypto space because the issuance of money, and specifically the ability to monitor and track every purchase of the citizenry is the ultimate control. The communist does not want people to take that control back from a central authority. This is also how you know the communist does not truly care about the "little guy", and only power & control. Crypto gives the power back to the common man.


You didn't hear that math was racist? :lol:


http://www.washingtonexaminer.com/its-not-just-a-joke-anymore-theyre-actually-claiming-math-is-racist/article/2638468

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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Sat Jan 13, 2018

I'm down to 2 credit cards, which I pay off monthly. My Chase/Amazon card only has a $700 line, I use that for gasoline and Amazon/Internet purchases only. The other card has a $5000 line, I use it once in awhile to keep it active.

I've been hacked twice, and it is a royal PIA to get everything straightened out (debit cards/checking account).
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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Sat Jan 13, 2018

SilverDoge wrote:
Bucketeer wrote:ZH:New Survey Reveals Staggering Number Of People Are Buying BitCoin On Their Credit Cards.

It's all good as long as Bitcoin rises.....Credit card buyers are weak-hands.

https://www.zerohedge.com/news/2018-01-11/new-survey-reveals-staggering-number-people-are-buying-bitcoin-their-credit-cards


Disagree. Sometimes it is the quickest and easiest way to get your foot in the door. If you pay off your CC each month, the only difference is a slight premium in purchase price. One should NOT be accumulating debt to buy crypto.

That said, I just heard that Capital One has put a stop to all crypto currency purchases. Can't confirm yet, but wouldn't be overly surprised. They don't want to fund the platform that will be their demise.


Well, a crypto transaction is a form of a cash transaction, but the "cash" is inferior, it isn't USD
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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Sat Jan 13, 2018

Engadget: Bitcoin was briefly legal tender at KFC Canada.

https://www.engadget.com/2018/01/13/bitcoin-was-briefly-legal-tender-at-kfc-canada/
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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Sat Jan 13, 2018

Forbes: U.S. Marshals To Hold Bitcoin Auction For $50 Million Worth Of Cryptocurrency (3813 BTC).
https://www.forbes.com/sites/rogeraitken/2018/01/12/u-s-marshals-to-hold-bitcoin-auction-for-50-million-worth-of-cryptocurrency/#698c058c6127
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Re: Bitcoins - fad or trend?

Postby fmsfms2003 » Sat Jan 13, 2018

Oh my, BTC coin that is actually a coin.... never heard of these

https://bitcoinist.com/big-money-casasc ... for-28700/

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Long John
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Re: Bitcoins - fad or trend?

Postby Long John » Sat Jan 13, 2018

Most of us know about Dollar-Cost-Averaging gold and silver. This article talks about DCA for Bitcoin and cryptos. Nothing new or earth-shaking here, but there are people reading these threads who are new to crypto, and I read it through that lens. It notes that trying to buy the dip and sell the bounce is time-consuming and stressful, and I can attest that is true. It recommends DCA (if you don't have a pile of disposable cash) and holding as a safer, less anxious approach. It might appeal to those who have been frustrated trying to beat the market.

https://bitcoinschannel.com/how-to-doll ... ke-a-boss/

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Re: Bitcoins - fad or trend?

Postby cmiller17363 » Sat Jan 13, 2018

Good post, LJ. I just went through that frustration myself.
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