Litecoin and Ethereum buys and sells are temporarily disabled

Post by mccoyspace » Wed, Dec 13, 2017, 2:31 AM UTC

patmcc wrote: post #373

seibelj wrote: post #366

Earlier quoted context omitted.

I have heard many anecdotes about finance money coming in. We are witnessing it. Also, rich Saudis are scared shitless about losing their wealth when political winds change. They put their money into crypto and it's much, much harder to take it from them, provided they own the private key. This is the best mechanism of wealth storage yet created, provided the value holds, which as more around the globe believe in, it…

>>>They put their money into crypto and it's much, much harder to take it from them, provided they own the private key. That's not exactly trivial - how do you store a private key in such a way that it's safe, accessible to you and only you, cannot be destroyed by your enemies, and can be passed on to your heirs upon your death?

Post by garybro » Wed, Dec 13, 2017, 2:40 AM UTC

toki5 wrote: post #411

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…

Wait, I'm confused by your numbers there. Buy: 300 LTC @ 241 = $72,300 + 1.49% fee ($1077) = $73,377 cost basis Sell: 300 LTC @ 251 = $75,300 - 1.49% fee ($1122) = $74,178 gross $74,178 - $73,377 = $801 net and that's before accounting for taxes. What am I missing here?

Post by paulcole » Wed, Dec 13, 2017, 2:44 AM UTC

rdm_blackhole wrote: post #341

I understand that at the moment it may seem like all the cryptocurrencies are in a bubble but honestly, I don't mind because it is forcing the banks to stop their stupid cash grab and loosen up some of their rules. What about the stupid fees that bank charge you to have the privilege to have you as a customer? What about the fact that at the moment it takes 3-5 business days to make a simple bank transfer to another…

Post by DenisM » Wed, Dec 13, 2017, 2:47 AM UTC

analyst74 wrote: post #423

DenisM wrote: post #410

Earlier quoted context omitted.

You’re forgetting currency control evasion. If a businessman from a country with tight controls wants to move money out of the country he would buy bitcoin and then sell it the other side of the border. This sort of activity is going on all the time, and it creates demand for crypto currencies.

I don't see how bitcoin can facilitate currency control evasion. The government can simply shut down all local exchanges, and some already did.

Post by JonnyNova » Wed, Dec 13, 2017, 3:22 AM UTC

CPLX wrote: post #402

exelius wrote: post #342

Earlier quoted context omitted.

It's strayed so far from fundamentals that it's bound to crash. I really hope it's not that big when it does...

Bitcoin doesn't have fundamentals. Stocks are a claim on assets, buildings, inventories, and future profits. Real shit, like a parking lot full of trucks or something. Those are the fundamentals. Cryptocurrencies dont have anything like that. To the extent that there is an analogous concept it's their utility as a means of exchange. Which outside of drugs and hard drive ransoms is minuscule at best.