Cryptocurrencies heading into 2018...

[Großer Kriegschwein]

Lots of reasons that it's dropping. ZClassic has taken a $60 hit in the last 4 days. Hopefully it will go further down so I can get more before the planned fork with Bitcoin.

Sitting at $88 per right now. If it hits $60, then I'd buy a few. Once the fork happens, you'll be issued Bitcoin Private on a 1-1 ratio.

With talks of taxing crypto currency, Private untraceable coins will be a big market. ZCash, ZClassic and eventually Bitcoin Private will be the pioneers of the market. 

I do however feel bad for the people that bought Bitcoin and Ethereum at their peak prices. That would have to be a kick in the bag. Not a grazing blow either. Like a hook kick, from behind, to the junk.

[NuttinItUp]

With talks of taxing crypto currency, Private untraceable coins will be a big market. ZCash, ZClassic and eventually Bitcoin Private will be the pioneers of the market. 

Also, throw Monero in there. I think everyone on the dark web basically uses ZCash or Monero nowadays for the anonymity.

[HawgWild]

With talks of taxing crypto currency, Private untraceable coins will be a big market. ZCash, ZClassic and eventually Bitcoin Private will be the pioneers of the market. 

I'm guessing that governments are equally motivated to see that this doesn't happen.

[woodrow hog call]

With Bitcoin hovering around $7k right now, it is really tempting to buy more, that would bring my average cost way down but I keep hearing that old saying about "throwing good money after bad".

Is anybody buying at this stage, or in a wait and see mode?

[Albert Einswine]

I'm about to start mining crypto currency. Working out the operating system issues, then will need to ramp up my computer rack for optimal performance. Will begin a 6 month "test" period to determine ACTUAL profitability.

My son is mining, he's doing alright with it.

[NuttinItUp]

With Bitcoin hovering around $7k right now, it is really tempting to buy more, that would bring my average cost way down but I keep hearing that old saying about "throwing good money after bad".

Is anybody buying at this stage, or in a wait and see mode?

I like this Ari Paul quote from a few weeks ago:
"Bitcoin will trade at both $6,000 and $60,000 at some point in 2018."

[woodrow hog call]

I like this Ari Paul quote from a few weeks ago:
"Bitcoin will trade at both $6,000 and $60,000 at some point in 2018."

I have not heard that before, it may be on its way to $6000 now, I don't think I can lay off if it gets that low.

[woodrow hog call]

E-coin would have been the one to grab up for a quick buck; from $34 to $290 in a matter of 3 hours. Sounds like a pump and dump, maybe we can get enough people together to do our own.

https://coinmarketcap.com/currencies/e-coin/

E-coin (ECN)
$134.03 USD (2,308.93%)
0.01861130 BTC (2,254.91%)

EDIT; You could buy it for $4.20 yesterday, sell it today for $290, crazy stuff.
So you could have turned $500 in to $34,000 in 24 hours.


Date   Open   High   Low   Close   Volume   Market Cap
Feb 05, 2018   8.67   8.80   4.20   6.23   1,303   43,204,500

[NuttinItUp]

E-coin would have been the one to grab up for a quick buck; from $34 to $290 in a matter of 3 hours. Sounds like a pump and dump, maybe we can get enough people together to do our own.

https://coinmarketcap.com/currencies/e-coin/

E-coin (ECN)
$134.03 USD (2,308.93%)
0.01861130 BTC (2,254.91%)

EDIT; You could buy it for $4.20 yesterday, sell it today for $290, crazy stuff.
So you could have turned $500 in to $34,000 in 24 hours.


Date   Open   High   Low   Close   Volume   Market Cap
Feb 05, 2018   8.67   8.80   4.20   6.23   1,303   43,204,500

I wouldn't touch that one with a 10-foot pole. Look at the volume.  Whenever the volume is only in the hundreds of thousands, especially for a coin that is supposedly valued in the hundreds of millions, you know something isn't right.

[woodrow hog call]

I wouldn't touch that one with a 10-foot pole. Look at the volume.  Whenever the volume is only in the hundreds of thousands, especially for a coin that is supposedly valued in the hundreds of millions, you know something isn't right.

Yeah I think that is the stuff that gives the Crypto market a bad name, right now it is back at $3.08.

I knew there would be some big gainers coming out of this drop, I was just browsing the list and saw the huge %gain it was making today, and while I was typing it dropped to $2.10, wow.

Looking at the graph for 1 day, it actually looks like it was a double pump and dump.

And I did not buy more Bitcoin at $6000 like I should have.

[NuttinItUp]

Yeah I think that is the stuff that gives the Crypto market a bad name, right now it is back at $3.08.

I knew there would be some big gainers coming out of this drop, I was just browsing the list and saw the huge %gain it was making today, and while I was typing it dropped to $2.10, wow.

Looking at the graph for 1 day, it actually looks like it was a double pump and dump.

And I did not buy more Bitcoin at $6000 like I should have.

Yeah, you always have to look at the volume. The higher the volume being traded, the more interest there is in a coin. (amount traded divided by total volume) 10% is a pretty good mark. Some coins can be in the 25%+ range if they are really tearing it up.

I wouldn't be surprised to see Bitcoin at over $14K again within 7 days now that the recovery is seemingly underway.

[SwineGrind]

Have to take ETC seriously. 3 solid teams, decentralization focused, and extremely improved over ETH.

[Hog_Fink]

holding ltc, neo, nano (xrb), & really hodl with gvt

[Hog_Fink]

man gvt is certainly looking promising.
looking like a bull run may be coming again

[Vantage 8 dude]

Just a word to the wise: major changes in how cryptocurrencies are traded and likely regulated are very likely coming. We're already seeing some moves afoot on several fronts.

In Japan, regulators just shut down two exchanges for at least a month in the wake of yet another high-profile currency heist. This one was in the amount of approximately $500 million in crypto coins. In addition, at least five other exchanges that have been involved in the trading of such coins have been advised to change/upgrade their security. This could very well be a preview of what could happen in the U.S..

That's because the Securities and Exchange Commission (SEC) this week said that digital tokens are securities, and therefore should be regulated. Meanwhile a federal judge on Wednesday, 3/7, ruled that cryptocurrencies are commodities and therefore should be regulated by the U.S. Commodities Trading Commission. Either and/or both these actions strike at one of the very foundations of the appeal of crypto coins to many investors: their autonomous nature.

The SEC's warning is stark. Government lawyers believe the current cryptocurrency ecosystem has become a haven for fraudsters. It is the role of the SEC to make certain investors have clarity and full disclosure by issuers of securities. That includes a fair method of exchange.

A secondary goal of such registration efforts could also be directed at something I've mentioned previously. The IRS has for some time taken the stance that cryptocurriences are indeed securities and that the trading of such (even cashing in for purpose of paying for something) is considered a TAXABLE event. Any gains/loses are supposed to be reported on the investor's annual tax return. The tax treatment of such would be the same as that of any other security.

[woodrow hog call]

Just a word to the wise: major changes in how cryptocurrencies are traded and likely regulated are very likely coming. We're already seeing some moves afoot on several fronts.

In Japan, regulators just shut down two exchanges for at least a month in the wake of yet another high-profile currency heist. This one was in the amount of approximately $500 million in crypto coins. In addition, at least five other exchanges that have been involved in the trading of such coins have been advised to change/upgrade their security. This could very well be a preview of what could happen in the U.S..

That's because the Securities and Exchange Commission (SEC) this week said that digital tokens are securities, and therefore should be regulated. Meanwhile a federal judge on Wednesday, 3/7, ruled that cryptocurrencies are commodities and therefore should be regulated by the U.S. Commodities Trading Commission. Either and/or both these actions strike at one of the very foundations of the appeal of crypto coins to many investors: their autonomous nature.

The SEC's warning is stark. Government lawyers believe the current cryptocurrency ecosystem has become a haven for fraudsters. It is the role of the SEC to make certain investors have clarity and full disclosure by issuers of securities. That includes a fair method of exchange.

A secondary goal of such registration efforts could also be directed at something I've mentioned previously. The IRS has for some time taken the stance that cryptocurriences are indeed securities and that the trading of such (even cashing in for purpose of paying for something) is considered a TAXABLE event. Any gains/loses are supposed to be reported on the investor's annual tax return. The tax treatment of such would be the same as that of any other security.

I think this is needed to clean things up and bring a certain level of legitimacy, to the crypto world. It seemed like every week for a little while we were hearing of some kind crazy stuff going on in one exchange or another. I guess time will tell if this helps or hurts, but it seems necessary at this point to me. 

[Vantage 8 dude]

I think this is needed to clean things up and bring a certain level of legitimacy, to the crypto world. It seemed like every week for a little while we were hearing of some kind crazy stuff going on in one exchange or another. I guess time will tell if this helps or hurts, but it seems necessary at this point to me.

I realize a lot of folks either don't want to hear this or would prefer things stay as they are; however, as it now stands it's virtually the "wild, wild west" when it comes to trading and other things going on in the various cryptocurrency markets. Not only is it difficult to get a true reading on what the coins are actually worth, but now that hacking is a growing problem there's going to have to be some sort of protective safeguards put on to protect the legitimate investors from the stalkers and hackers that inevitably come out of the woodwork when some new way of trying to make money emerges. While some might not like the idea of formal rules and regulations, much less more formal record keeping (other than through the blockchain technology), in the end to protect the legitimate investor(s) certain standards are going to need be enacted.

[Vantage 8 dude]

Just a word to the wise: major changes in how cryptocurrencies are traded and likely regulated are very likely coming. We're already seeing some moves afoot on several fronts.

In Japan, regulators just shut down two exchanges for at least a month in the wake of yet another high-profile currency heist. This one was in the amount of approximately $500 million in crypto coins. In addition, at least five other exchanges that have been involved in the trading of such coins have been advised to change/upgrade their security. This could very well be a preview of what could happen in the U.S..

That's because the Securities and Exchange Commission (SEC) this week said that digital tokens are securities, and therefore should be regulated. Meanwhile a federal judge on Wednesday, 3/7, ruled that cryptocurrencies are commodities and therefore should be regulated by the U.S. Commodities Trading Commission. Either and/or both these actions strike at one of the very foundations of the appeal of crypto coins to many investors: their autonomous nature.

The SEC's warning is stark. Government lawyers believe the current cryptocurrency ecosystem has become a haven for fraudsters. It is the role of the SEC to make certain investors have clarity and full disclosure by issuers of securities. That includes a fair method of exchange.

A secondary goal of such registration efforts could also be directed at something I've mentioned previously. The IRS has for some time taken the stance that cryptocurriences are indeed securities and that the trading of such (even cashing in for purpose of paying for something) is considered a TAXABLE event. Any gains/loses are supposed to be reported on the investor's annual tax return. The tax treatment of such would be the same as that of any other security.

As a follow-up/update to this post I've found out something further along these lines. Today Tom Lee, a strategist with a company by the name of Fundstrat Global Advisors, released some very interesting and telling information. Apparently last year the IRS contacted the #1 Cryptocurrency dealer, Coinbase, and requested they   provide the complete cryptocurrency records for every U.S. citizen who was involved with any/all transactions involving at least $20k in various currency/coins between the years 2013-2015. This amounted to something in the neighborhood of $25 billion in total.

Of the estimated 14,355 persons identified as falling into this category, only about 807 reported any crytocurrency activity in 2013. In 2014, that number rose slightly to 893; however, in 2015 (latest year's numbers available) this group fell back to just over 800 (802 to be exact).

My guess is that before it's all over there are a TON of folks who are going to get a (not so) nice "greeting" from
Uncle Sam wanting a detailed explanation and breakdown of what activity each and every one of the folks identified in this audit. We all know that under the best of circumstances a call from the IRS wanting to know particulars about alleged financial activities and potential unreported income and/or security gains are never pleasant. My gut tells me that this is only going to get worse as more and more crypocurrency market makers, dealers, and facilitators are going to have the same type inquiries being directed toward and/or at them. I also suspect there is going to be a LOT of pain felt on the part of some investors, as well as some very hard/difficult lessons learned. 

[HawgWild]

Cryptocurrency manipulation?! Say it ain't so!
http://www.businessinsider.com/us-justice-department-bitcoin-crypto-market-manipulation-probe-2018-5

[Vantage 8 dude]

Cryptocurrency manipulation?! Say it ain't so!
http://www.businessinsider.com/us-justice-department-bitcoin-crypto-market-manipulation-probe-2018-5

As I've observed before the cryptocurrency markets are very much like the "wild, wild west" where there's been very little, if any, regulations/rules set down. Obviously ripe for exploitation, manipulation and down right thievery.

[Hog_Fink]

How's morale

[paul_k]

e-money is really weird atm. everybody can see a lot of action but hardly anyone knows what to do about it. guess the focus should lie on the technologies and principles behind bitcoin. if there is a way to invest in this I'd volunteer. I don't believe bitcoin itself has much of a future, but its basis does. blockchain and shared ledgers can be used in legal deals, voting, money transfers (fiat money, not e-currencies) and they will most probably transform some spheres of our lives https://tranio.com/world/analytics/how-the-blockchain-and-distributed-ledgers-will-transform-the-real-estate-market_5405/ and as they are limited in number  they will eventually become a rare possession of the few and will be banned or gone to the grey market, otherwise it's going to be like oligarchy of XXI century

[Vantage 8 dude]

e-money is really weird atm. everybody can see a lot of action but hardly anyone knows what to do about it. guess the focus should lie on the technologies and principles behind bitcoin. if there is a way to invest in this I'd volunteer. I don't believe bitcoin itself has much of a future, but its basis does. blockchain and shared ledgers can be used in legal deals, voting, money transfers (fiat money, not e-currencies) and they will most probably transform some spheres of our lives https://tranio.com/world/analytics/how-the-blockchain-and-distributed-ledgers-will-transform-the-real-estate-market_5405/ and as they are limited in number  they will eventually become a rare possession of the few and will be banned or gone to the grey market, otherwise it's going to be like oligarchy of XXI century

As mentioned previously, the technology of Blockchain is IMO the sustainable way of investing in various cryptocurrencies. Many of the current offerings in this area will come and go; however, no matter which one(s) end up with true "staying power", the ability to track the actual history of each coin will remain essential to the market place. Find the companies such as NVDA, MSFT and others who are in some way or fashion actually involved in this area and thrive through their continued growth.