Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Litecoin and Ethereum buys and sells are temporarily disabled

status.coinbase.com

Post reply on HN
Print view View original

331–340 of 566 posts

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#331

Post by ryanwaggoner »

junk_f00d wrote: post #323
ryanwaggoner wrote: post #316

Earlier quoted context omitted.

"some of these smaller projects" Which ones? There are hundreds of these things, and my personal view is that they're mostly worthless. I really don't think the hard part at this point is coming up with a cool use case for cryptocurrency, or even building the technology that works (though many of these alts have yet to even do that). The hard part is adoption, and my estimation is that almost all of them will fail at…

>Which ones? ChainLink, as this project is aiming to incorporate outside data into the blockchain and smart contracts. This has plenty of real world use cases. This could be what the internet is to a computer, but for blockchain. Zen Protocol is also working on a similar idea, but they incorporate smart contracts into their project and have improved upon ETH's model a bit (not charging gas for failed contracts to nam…

I appreciate you sharing all this (genuinely), but you missed my point, which is that most of these will fade away. Having cool tech isn't enough.

Personally, I don't see cryptocurrency ever going back to $0, the technology is better than existing models of centralized banking and middle men. Unless something comes along that disrupts the disruptor, I think it's here to stay for the forseeable future.

I agree, but not enough to put more than a small slice of my net worth in at this point. Fortunately, if it doesn't go to zero, it'll probably 100x or 1000x again, so I'll be fine with just a small slice of my net worth :)

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#332

Post by garybro »

charlesdm wrote: post #321
garybro wrote: post #303

I've made about $110k profit this year in crypto on a $21k investment earlier this year, and I think this is all a giant bubble. I was at my parents' house for Thanksgiving and a commercial with Ron Paul talking about Bitcoin came on, which coincided with around the time it went to $10k, and it hit me really hard that this isn't going to last forever (and probably will hurt sooner rather than later). I liquidated eve…

Even if it is a bubble, that doesn't mean it can't go another 20x from here, depending which crypto you put your money in. There's cheap liquidity (ho ho ho said the FED and the ECB), there are institutions (pension funds) that are starting to buy in, and in comparison, the dot-com bubble (which was mainly a US led bubble, not global) went to $5.7tn to $1.7tn. Gold is worth $8tn globally. Why couldn't Bitcoin get to…

You're not wrong. It very well could. I think there will be a major correction before (if) that happens, though.

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#333

Post by shak77 »

harryh wrote: post #327
garybro wrote: post #303

I've made about $110k profit this year in crypto on a $21k investment earlier this year, and I think this is all a giant bubble. I was at my parents' house for Thanksgiving and a commercial with Ron Paul talking about Bitcoin came on, which coincided with around the time it went to $10k, and it hit me really hard that this isn't going to last forever (and probably will hurt sooner rather than later). I liquidated eve…

Do you feel any guilt that your profits are at the expense of naive speculators who "have no business investing in it are taking on debt to do so, with no clear exit strategy" ?

If you invest in something you can lose, especially if you have no idea of what you're doing. There's no guilt to be had.

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#334

Post by charlesdm »

garybro wrote: post #332
charlesdm wrote: post #321

Earlier quoted context omitted.

Even if it is a bubble, that doesn't mean it can't go another 20x from here, depending which crypto you put your money in. There's cheap liquidity (ho ho ho said the FED and the ECB), there are institutions (pension funds) that are starting to buy in, and in comparison, the dot-com bubble (which was mainly a US led bubble, not global) went to $5.7tn to $1.7tn. Gold is worth $8tn globally. Why couldn't Bitcoin get to…

You're not wrong. It very well could. I think there will be a major correction before (if) that happens, though.

You're not wrong either. And the higher it goes, the riskier it gets. And while I'm seeing signs of a bubble, I don't think that (excluding a few volatile 30-40% corrections along the way) we will see an implosion in 2018 just yet. The entire crypto space "only" equals the value of Facebook.

In the end, if it goes another 30x from where we're at today, and then has an 80% correction, you'll still be up 6x. It only makes sense to exit if you think such a correction is imminent, or you believe the entire space is going to zero.

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#335

Post by AgentME »

lucaspiller wrote: post #290
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…

Also I agree banks in the US really need to modernise their procedures, I don’t really see how this is an argument for cryptocurrncy. Here in Europe I can make a payment to any other EUR bank account in Europe, for free and it’ll usually arrive the same or next day. All I need is the recipients bank account number, and to enter that and the amount on my online banking - I don’t need to go and see anyone or fax anythi…

Great to know the EU has it better, but it doesn't really help others unless the suggestion is to move.

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#336

Post by [deleted] »

garybro wrote: post #303

I've made about $110k profit this year in crypto on a $21k investment earlier this year, and I think this is all a giant bubble. I was at my parents' house for Thanksgiving and a commercial with Ron Paul talking about Bitcoin came on, which coincided with around the time it went to $10k, and it hit me really hard that this isn't going to last forever (and probably will hurt sooner rather than later). I liquidated eve…

[deleted]

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#337

Post by majani »

zMiller wrote: post #150

This thread's audience is obviously a 'developed nations' one. From our perspective yes, Crytpo's use case as currency make absolutely no sense (yet), we tap our Visa card to pay instantly with no fees and no fraud liability, hard to beat. As a store of value however there is a very strong use case in the western world. Of the top my head, it is estimated that 10% of our GDP is in off shore havens, think about that i…

Kenya is the global leader in mobile money adoption for the same reasons you've stated. Smart money should be preaching the crypto gospel in Somalia, Zimbabwe, Venezuela etc. The average citizen from such countries is way more in tune with the need for alternative currencies

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#338

Post by agorabinary »

garybro wrote: post #303

I've made about $110k profit this year in crypto on a $21k investment earlier this year, and I think this is all a giant bubble. I was at my parents' house for Thanksgiving and a commercial with Ron Paul talking about Bitcoin came on, which coincided with around the time it went to $10k, and it hit me really hard that this isn't going to last forever (and probably will hurt sooner rather than later). I liquidated eve…

"it has to solve a few problems first (transaction fees/time and anonymity)"

Bitcoin Lightning currently works on testnet ... give it a few months and those problems will be solved. The price is exploding in anticipation of events like this.

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#339

Post by matchagaucho »

charlesdm wrote: post #321
garybro wrote: post #303

I've made about $110k profit this year in crypto on a $21k investment earlier this year, and I think this is all a giant bubble. I was at my parents' house for Thanksgiving and a commercial with Ron Paul talking about Bitcoin came on, which coincided with around the time it went to $10k, and it hit me really hard that this isn't going to last forever (and probably will hurt sooner rather than later). I liquidated eve…

Even if it is a bubble, that doesn't mean it can't go another 20x from here, depending which crypto you put your money in. There's cheap liquidity (ho ho ho said the FED and the ECB), there are institutions (pension funds) that are starting to buy in, and in comparison, the dot-com bubble (which was mainly a US led bubble, not global) went to $5.7tn to $1.7tn. Gold is worth $8tn globally. Why couldn't Bitcoin get to…

Gold is worth $8tn globally

Drawing comparisons between gold and a fiat currency (BTC) is completely confusing.

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#340

Post by bitxbit »

_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.

Just think about crypto-backed real-world assets and compare that against "market capitalization" (which is ridiculous to even call it that in my view). This is why ICOs are nothing more than buying into pump-and-dump stocks or at best microcap biotechs.
Post reply on HN