Discussion in 'General' started by MLyons, 6 Dec 2017.
Yup just registered for Binance been checking it daily.
Yup, thats what I was looking for, was going to just sign up to nicehash, but I saw that withdrawal thresholds are hard to hit.
Once I get this set up ill feed back
Just nabbed a Sapphire RX470 Nitro+ OC 8GB from OCUK for £150 delivered, gonna give Nicehash/Kryptex a go with the work PC - shouldn't take long to pay for itself at that price!
How did you pull that one off? They aren't even for sale on their website.
B-Grade/Clearance section - always give that little treasure trove a couple of looks in the week, some good deals crop up, and unlike ebay/gumtree, even though it's a "used" item, you still have plenty of protection and a little warranty.
There is a way, but you might as well buy lottery tickets.
To elaborate a bit:
Monitor bitcointalk for new mineable altcoins being announced:
Mine on hardware you already have (unlike with established coins you can potentially get something out of new coins by being among the first few to mine it without the need for expensive hardware)
Store the mined coins (which at that point will still be completely worthless)
Check back a couple month later to see if any of the crap coins have become somewhat established altcoins with a value (and hopefully be able to dump them for a couple quid)
Expensive electricity is more the problem.
Today is not a day to check your crypto portfolio...... Lead balloon!
Aye, not half. My portfolio is down 33% and still dropping. Ouch. Wonder where the bottom will be? Wouldn't surprise me if the entire December spike was wiped out.
EDIT: Just watched my portfolio go from -33% to -21% in one refresh. Serious volatility here - some people are going to be getting really, really rich and some people are going to lose their shirts. Me? I'm holding. I've played markets like this before, and I ain't never come out on top. Winchester, pint, blow over - you know the drill.
Oh, and if you're looking for an explanation (that isn't just "holy shirtballs, did you not see everything go up 1000% in December? What, you thought that was sustainable?!") CoinMarketCap decided (sensibly) to remove the Korean exchanges nobody outside Korea can use and that are usually 30-50% higher than everywhere else from the price aggregates of a bunch of coins without telling anyone (not sensibly), so it looked like a whole bunch of coins suddenly dipped >20% - which, ironically, caused a bunch of people to panic sell and the coins to actually dip >20%.
Not saying that's the actual cause, but it's a theory.
EDIT AGAIN: -16% now. Fingers crossed it keeps recovering!
EDIT EDIT EDIT: -9% to -17% in one refresh. This market is cray-cray.
Apparently it's due to CMC adjusting prices after removing inflated Korean exchanges - everybody woke up to slightly reduced averages, started selling, induced a spot of panic and shook the weak hands out.
Probably a healthy correction at this stage - Eth was breaking ATH's on a daily basis up to today!
I'm sure it's just a blip, let's not panic!
Today is a good day for me to be buying in the end then.
So far I got lumens and ripple at near the bottom, although might still be dropping for a while I guess. Going to see how much fun and tron I can pick up with my remaining funds.
Exactly ... don't panic ... attempt to cash in!
Edit: in fact looking at the charts on coingecko most of them appear to be upturning again. Might have just been the bottom of the slump? Or maybe it'll go down more, who knows.
Any get started guide in how to buy/trade in this alt-coin market?
I just started mining using NiceHash, it auto-chose Equihash on my 970 and its calculator shows profit of £60 per month after deducting my electricity bill, of course it can go either way depend on bitcoin. First payout is due within a week.
But seeing the market drop, I'm thinking now is the time to put in a hundred or so real cash to get started.
My understanding so far
1. buy alt-coins at exchanges (which one would people recommend? NiceHash pays to CoinBase without fee, so worth using them?
2. sign up for each alt-coin wallets (some just give you a private key, some have a program you have to run and download blockchains, I've not understood why yet)
3. transfer from exchange into own wallet
6. to cash out, do the reverse 3-1?
Yeah I noticed that, was having issues with the kraken site to withdraw the little I had, by the time it finally works I saw things were down so now not sure if I should wait a bit? I'm just wanting it as money, not to play the markets with or anything.
Also realised I'm using an external wallet with Nicehash, meaning I will only get irregular payouts once I hit 0.01BTC, which should be every 3-4 weeks, but would people recommend I just stop what I've done so far and switch so I can have a lower payout limit to get it more regularly?
Well speaking as someone who literally just got in today, trading GBP into LTC (lower fees on LTC than BTC, 4p vs 11.99!!) on coinbase or another GBP to crypto exchange site, then I transferred it into Binance and picked up some bits.
Advantages of Binance and Coinbase are that the identity verifications were done in minutes, whereas the others I was looking at going through are still pending even now. However that's a good thing given today's dip, otherwise I might've lost 50% of my investment over the weekend.
Then yeah you need a software or hardware wallet or for supported ETH-based crypto, MyEtherWallet works for cold storage.
Coinbase is great for buying Bitcoin, Ethereum, and Litecoin on a debit or credit card. It's useless for anything else, but you can transfer your Coinbase wallets to GDAX which is a Proper Exchange - however, if you're into the more esoteric alts, you won't find 'em there. Instead, you'll have to go somewhere like Bitfinex, Binance, or for the really new stuff KuCoin. (Happy to share referral links for all of the aforementioned - for Coinbase we both get £7.50 of Bitcoin when you buy £100 or more of any coin, and I'm not sure what if anything the referral links on the other exchanges do to benefit the referee.)
For small amount investments, worth signing up for each coin's individual wallet to get hold of private key? Or trust a portfolio of exchange?
Referral sounds good. Please do PM me the Coinbase referral.
It's up to you. If you're investing small amounts in Bitcoin, keep it on the exchange or the fees to transfer to your wallet will eat away at your balance. For other alts, the fees are low - I transferred a bunch of Ripple to my wallet t'other day and it cost me less than a penny - so it depends whether you think the risk of you doing something stupid and losing access to your wallet is higher or lower than the exchange getting hacked, shutting down, or whatever.
Looking at the charts I managed to buy FUN at just a few points above the lowest of the day. TRON I'm already a few fractions of a pence behind ... oh what a shame ... managed to Stellar Lumens XLM again just a tad over the lowest point, and Ripple XRP also at the low point of the day so far. Great timing. Now I know my way round Binance a bit better from using it too and just gotta wait for some of this stuff to go up a bit.
Limited number of accounts per day . But ta for the heads up!
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