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Litecoin and Ethereum buys and sells are temporarily disabled

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Re: Litecoin and Ethereum buys and sells are temporarily disabled

#131

Post by SyneRyder »

wott wrote: post #75
phil248 wrote: post #25

Earlier quoted context omitted.

Having purchased several cryptocurrencies recently, I can attest that I am certainly not acting rationally. But at least I'm having fun!

I should start a business selling thin air. Thin air from France, thin air from Japan, thin air from Mexico, and so on, you can collect them all, it is super fun. Then I could introduce cold captured thin air, warm captured thin air, etc. Wet thin air, dry thin air for year 3. More fun every year. Even better, I should sell just a paper (well, an electronic one) stating you own some thin air. Hey, geeks, how cool can…

That also reminds me of Yves Klein's Zone de Sensibilité Picturale Immatérielle::

In the performance piece, Zone de Sensibilité Picturale Immatérielle (Zones of Immaterial Pictorial Sensibility) 1959–62, he offered empty spaces in the city in exchange for gold. He wanted his buyers to experience The Void by selling them empty space. In his view this experience could only be paid for in the purest material: gold. In exchange, he gave a certificate of ownership to the buyer. As the second part of the piece, performed on the Seine with an Art critic in attendance, if the buyer agreed to set fire to the certificate, Klein would throw half the gold into the river, in order to restore the "natural order" that he had unbalanced by selling the empty space (that was now not "empty" anymore). [1]

[1] https://en.wikipedia.org/wiki/Yves_Klein

[2] https://en.wikipedia.org/wiki/Zone_de_Sensibilit%C3%A9_Pictu...

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#132

Post by fullshark »

kombucha2 wrote: post #89
sedtrader wrote: post #15

A lot of emotion with LTC. People are downloading Coinbase and buying LTC simply because it is the cheapest on Coinbase. This is definitely a bubble, really cant deny that anymore. All emotional, non-rational behavior.

Is this the reason why? I've been scratching my head all day as to why LTC would pop today beyond the fact that the BTC rally cooled and people saw LTC as cheaper and thought "hey, thats cheap, let pump it!".

Anecdotally yes FWIW.

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#133

Post by and0 »

xutopia wrote: post #110
_m8fo wrote: post #11

Can someone familiar explain why cryptocurrencies aren't a bubble? They both seem to exhibit similar characteristics. Clearly, are shown by the site here, these aren't nearly as liquid as fiat currencies, nor are they really used to purchase anything. So... What is it? EDIT: upon thinking about it, MLM wasn't the term I meant.

Today I went to one bank to transfer 60k from one account to an account in a different bank. I paid 7.50$ to get a certified check from Bank A. Went to the Bank B near my house to deposit it there. Unfortunately the branch near my house isn't where my account is. They tried faxing a photocopy of my certified check to the other branch but the line was busy. They're going to continue trying until 3pm today when they cl…

That's an absurdly specific grievance that won't effect 99.9% of people in any given year, and it certainly doesn't answer why Bitcoin isn't in a bubble.

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#134

Post by volker48 »

xutopia wrote: post #110
_m8fo wrote: post #11

Can someone familiar explain why cryptocurrencies aren't a bubble? They both seem to exhibit similar characteristics. Clearly, are shown by the site here, these aren't nearly as liquid as fiat currencies, nor are they really used to purchase anything. So... What is it? EDIT: upon thinking about it, MLM wasn't the term I meant.

Today I went to one bank to transfer 60k from one account to an account in a different bank. I paid 7.50$ to get a certified check from Bank A. Went to the Bank B near my house to deposit it there. Unfortunately the branch near my house isn't where my account is. They tried faxing a photocopy of my certified check to the other branch but the line was busy. They're going to continue trying until 3pm today when they cl…

I had a similar experience recently. I finished a contract job and received a check too large to deposit over my banks mobile phone app and unfortunately my bank doesn't have any local branches. I have a backup bank to do local deposits, but the transfer took 5 days to fully clear at my primary bank.

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#135

Post by superquest »

dclowd9901 wrote: post #123
xutopia wrote: post #110

Earlier quoted context omitted.

Today I went to one bank to transfer 60k from one account to an account in a different bank. I paid 7.50$ to get a certified check from Bank A. Went to the Bank B near my house to deposit it there. Unfortunately the branch near my house isn't where my account is. They tried faxing a photocopy of my certified check to the other branch but the line was busy. They're going to continue trying until 3pm today when they cl…

This is not a problem most people have.

Banking isn't an uncommon problem.

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#137

Post by gregcrv »

wott wrote: post #75
phil248 wrote: post #25

Earlier quoted context omitted.

Having purchased several cryptocurrencies recently, I can attest that I am certainly not acting rationally. But at least I'm having fun!

I should start a business selling thin air. Thin air from France, thin air from Japan, thin air from Mexico, and so on, you can collect them all, it is super fun. Then I could introduce cold captured thin air, warm captured thin air, etc. Wet thin air, dry thin air for year 3. More fun every year. Even better, I should sell just a paper (well, an electronic one) stating you own some thin air. Hey, geeks, how cool can…

http://www.airdemontcuq.fr/

It's already sold in France. "Air de Montcuq" -> air de mon cul ( air from my ass )

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#138

Post by sctb »

igorgue wrote: post #107
yalogin wrote: post #102

The question is which is the worse bubble Bitcoin or Litecoin?

Your mom's bubble is worse.

It seems clear that you won't stop violating the guidelines, like we've asked, so we've banned the account.

https://news.ycombinator.com/newsguidelines.html

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#139

Post by woolvalley »

EGreg wrote: post #91

I wonder, what are these exchanges like GDAX, BitMex etc. doing with their dollar/euro/etc. reserves? They obviously need to keep dollars on hand in order to cash everyone out. But what if Bitcoin goes up in price? If there is a run on the exchange later they may have to sell their bitcoins on the spot market to cash people out. Banks reinvest money held into loans and other speculative investments. But what do you d…

Coinbase is not using their own money to buy/sell bitcoins, but the money of other people in gdax, taking a cut. They are not doing fractional reverse banking where a bank run could happen as far as I know.

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#140

Post by brentm »

matte_black wrote: post #126
brentm wrote: post #114

Earlier quoted context omitted.

It is as rational as playing roulette. Most of people buying at this point probably can't articulate what they are buying, just that it's probably going to be be worth more money soon. I had to sell my BTC on Sunday, I am waiting to get back in when the exuberance flips around and everyone says it's dead.

As a rational actor, buying Bitcoin right now is basically buying a bet that people will continue to be irrational long enough for me to make a good profit and get out. I don’t know how much faith you have in the market, but I predict the irrationality will continue until at least the stock market crashes and causes people to take a cold hard look at just what exactly it is they are doing. By the time people wake up,…

Sure I understand that. For BTC at least I am not sure I agree the rally will last as long as the stock market rally. I think we'll probably see a decent amount of selling in January when the gains are moved forward to the new tax year.

Litecoin is another animal. I think we'll continue to see a lot of what we're seeing now. People seeing a low price (compared to btc), sad they missed out on cheap BTC and dreaming this one is going to $15k.

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