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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

#491

Post by petre »

crystaln wrote: post #427
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…

BTC will supplement gold for value storage and will hit a $5T market cap in a few years IMO. It certainly has utility for storing and moving value. Don't underestimate that.

Gold doesn't have 30% volatility over 24h.

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#492

Post by petre »

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…

BTC is used in Zimbawe, which would hardly classify as a developed nation.

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#493

Post by kamaal »

oscilloscope wrote: post #450
qsucvatz wrote: post #448

Earlier quoted context omitted.

Going to $0 is -Inf% loss.

Then if I lose 100% of my investment, how much have I lost?

Everything.

Sometimes its easier to describe this in terms of words, than numbers and symbols.

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#494

Post by petre »

vkou wrote: post #481
DINKDINK wrote: post #367

Earlier quoted context omitted.

>The average "unbanked" person in a third world nation couldn't afford a $20 transaction fee for their ordinary transactions. Someone in a country, who has the equivalent of $800 is life savings, is experiencing hyperinflation (Venezuela let's say). Are you telling me that they're not willing to pay 2.5% (20/800) of their savings to save 97.5% of it? Why do you think someone would be willing to let hyperinflation des…

If it were that simple to deal with hyperinflation, why won't they just buy USD? Because the government will forbid it? They can forbid the purchase of BTC, or the exchange of it for goods, too. Oh, in-person off-the-books transactions will solve the problem? Well, you don't need BTC for that, you can do in-person transactions of bolivars for USD, too.

Because there's a shortage of USD on that market, they buy it at a premium and also gov't crack down. So they are esentially forced to diversify: they buy BTC expecting to change it for USD at a later date.

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#495

Post by vkou »

petre wrote: post #494
vkou wrote: post #481

Earlier quoted context omitted.

If it were that simple to deal with hyperinflation, why won't they just buy USD? Because the government will forbid it? They can forbid the purchase of BTC, or the exchange of it for goods, too. Oh, in-person off-the-books transactions will solve the problem? Well, you don't need BTC for that, you can do in-person transactions of bolivars for USD, too.

Because there's a shortage of USD on that market, they buy it at a premium and also gov't crack down. So they are esentially forced to diversify: they buy BTC expecting to change it for USD at a later date.

There's also a shortage of people who want to exchange BTC for worthless Bolivars.

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#496

Post by icebraining »

kamaal wrote: post #493
oscilloscope wrote: post #450

Earlier quoted context omitted.

Then if I lose 100% of my investment, how much have I lost?

Everything. Sometimes its easier to describe this in terms of words, than numbers and symbols.

Everything is not that bad. Many people lose more than that on the regular stock market (using leverage).

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#497

Post by zik »

geofft wrote: post #424
a_tractor wrote: post #417

Earlier quoted context omitted.

I moved $1800 worth of LTC (Litecoin, one of the subjects of this thread) last night. The Tx fee was $0.01 and the funds were received in less than 1 minute. No more processing, no waiting for the next business day (or 3)... For 1 cent and 1 minute later the receiver can do whatever they want with it immediately. That is cheaper than CC, faster than Venmo, or whatever.

Why are Litecoin's transaction fees multiple orders of magnitude smaller than Bitcoin's? Is this a result of genuinely better technical decisions than in Litecoin (mining is cheaper because it's less hardware-friendly, blocks are generated more quickly) or just lower transaction volume / demand for transactions because it's less well-known? That is, if Bitcoin somehow implodes tomorrow and everyone moves to Litecoin,…

Bitcoin's pretty broken at the moment due to some bad decisions by the development team. All other cryptocurrencies have very low fees.

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#498

Post by rtpg »

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.

The pedantic response:

- if 1 BTC were $100 trillion, then it's clearly passed the fundamentals of "being a unit of exchange between commercial entities", since it would be way more than what any form of exchange would ever require.

The truth behind the pedantic answer:

- if it's a store of value, then the "fundamental" value is the amount of fiat that's gone into the system so far. If all the exchanges have roughly $100 in USD deposits, the base value of their bitcoin deposits will be at least $100, roughly.

- If it's as a means of transactions, then the fundamentals are linked to how much transaction volume is going on. For example the flow of USD into BTC and vice-versa. BTC BTC exchanges in that universe probably help to define things as well, as it would be used as an alternative to USD.

The dollars don't come from nowhere, so there's at least some base numbers you can think about. Thinking of it as "USD going into the ecosystem" and "USD going out" is a good proxy for now I think. Obviously very fluid, though.

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#499

Post by icemelt8 »

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…

Thats a lot of profit, can you please share your strategy or atleast tell me some coins to hold.

Re: Litecoin and Ethereum buys and sells are temporarily disabled

#500

Post by zik »

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!".

The cryptocurrency bubble is still attracting a lot of attention and people want to buy into something. Bitcoin's pretty broken right now so people are being told to buy litecoin instead.
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