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Other Cryptocurrency

Discussion in 'General' started by MLyons, 6 Dec 2017.

  1. Gareth Halfacree

    Gareth Halfacree WIIGII! Staff Administrator Super Moderator Moderator

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    Not same thing: the GDAX API is being shut down. Coinbase Pro is based on GDAX, and replaces GDAX, but isn't GDAX.
     
  2. edzieba

    edzieba Virtual Realist

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    The API is the same, just targeted at a different URL.
    The backend is the same, the API is the same, the only change is the web UI and URL.
     
  3. Gareth Halfacree

    Gareth Halfacree WIIGII! Staff Administrator Super Moderator Moderator

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    The API is the same for now, but will change in the future to expose additional features - that's why it's moved. The trading engine is the same, yes, which is why I said "based on GDAX". To quote Coinbase:
    As far as I can see, we're in violent agreement: GDAX has gone away, it has been replaced by Coinbase Pro, which is based on the GDAX trading engine, but has a new name, URL, UI, and API endpoint which currently mirrors the GDAX API functionality 1:1. All of which in no way invalidates my original statement on the matter for someone who was recommended to use GDAX. Which they can't use. Because it doesn't exist any more. Because it's Coinbase Pro now. Like wot I said.
     
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  4. edzieba

    edzieba Virtual Realist

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    So until the end of the year at the very earliest the only change is the web UI. Any API changes will be well after that (api.pro.coinbase.com even still points you to the GDAX API documentation). The backend is the same, the orderbook is the same, the API is the same, and the reasons everyone recommend the use of GDAX in the UK for basic buying/selling is the same:
    - free transfer of funds to/from Coinbase
    - fee-free cryptocurrency transfers (Coinbase/GDAX pay transfer fees)
    - fee-free Market Maker orders
    - support for SEPA fund withdrawals to UK banks

    Until and unless those change - and not only have no changes been announced, a lack of changes until the end of the year has explicitly been announced - the only reason not to recommend Coinbase Pro in place of GDAX is "I don't like the new web UI".
     
  5. B1GBUD

    B1GBUD ¯\_(ツ)_/¯ Accidentally Funny

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    Jeez boys, get a room why don'tcha :hehe:
     
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  6. Gareth Halfacree

    Gareth Halfacree WIIGII! Staff Administrator Super Moderator Moderator

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    Dude... Somebody was told to use GDAX, and I told 'em that it had been replaced by Coinbase Pro. You're now arguing for reasons not to use Coinbase Pro, for some reason.

    Re-read what I've written: PEOPLE SHOULD NOT USE GDAX, NOR RECOMMEND ANYBODY ELSE USES GDAX, BECAUSE GDAX WILL NO LONGER EXIST FROM THIS FRIDAY. IT'S GOING AWAY. Instead, people should use Coinbase Pro, because that's GDAX's replacement.

    At no point whatsoever have I told anyone not to use Coinbase Pro, so your entire post above is pointless.

    I'm not sure what you're not understanding about this.
     
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  7. edzieba

    edzieba Virtual Realist

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    My argument is that, for all intents and purposes, they're the exact same thing. You could go and sign up for GDAX today, and when Coinbase Pro rolls out this Friday you'll log into that instead, with the same login details, with all your orders exactly as they were, with all your funds exactly as they were, with all the capabilities exactly as they were.
    If you weren't paying attention, you might be mistaken for just thinking "did the background get darker?" and not even noticing the URL change:
    [​IMG]
    [​IMG]
     
  8. Gareth Halfacree

    Gareth Halfacree WIIGII! Staff Administrator Super Moderator Moderator

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    And my argument is telling someone who's never used either before to use GDAX is going to confuse the hell out of them when they can't find GDAX because it's been replaced by Coinbase Pro. That's literally my entire argument, and the only reason I posted in the first place.

    Fact: By Friday, you won't be able to use GDAX any more.
    Fact: Coinbase Pro replaces GDAX.

    End of.
     
  9. Canon

    Canon Reformed

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    Useful articles or tips when it comes to using Coinbase Pro for the first time? Most of the information I find on the web are simple comparisons of GDAX > Coinbase Pro.
     
  10. edzieba

    edzieba Virtual Realist

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    All the existing advice for using GDAX also applies to Coinbase Pro, as they're the same thing beyond the name change.
     
  11. Wakka

    Wakka Yo, eat this, ya?

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    Buy and HODL. Trading in this market is just bonkers - you'll just end up making snap decisions and losing more money, or perpetually DCA'ing the swings.
     
  12. Anfield

    Anfield Well-Known Member

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    I've swapped part of my BTC for IOTA and Monero to have some more diversity in my investment, just going to keep playing the HODL game and no real plans beyond that lol.
     
  13. MLyons

    MLyons Half dev, Half doge. Staff Administrator Super Moderator Moderator

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    Thinking about doing some speculative mining. @Evolutionsic any more predictions at the moment?
     
  14. Weekly_Estimate

    Weekly_Estimate Gives credit where its due

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    Nothing really worth mentioning =/
     
  15. yuusou

    yuusou Well-Known Member

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    Eth now under 400 dollars. No wonder this thread is (was) on page two.
     
  16. Wakka

    Wakka Yo, eat this, ya?

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    Had to sell my BTC at £5500 to cover a bill - then it dropped to ~£4900... Success?!

    Sold my last remaining LTC at €76 a few weeks back too, so not too sad about seeing that back at €56, either.

    Still have 1 full ETH, which I have successfully managed to swing trade a few times to DCA down a bit (probably to the tune of €100 or so, but still well under my total average). I would need it to go back to ATH levels to recoup my entire initial investment over all crypto, which I think it will, but the whole industry needs to get over it's chronic scaling and legalisation issues first. Once those get set in stone, the tech will be ready for some pretty cool real-world usage.

    Time to set a price alert and not bother watching CB Pro charts for a few months till it's all bled out.
     
  17. MLyons

    MLyons Half dev, Half doge. Staff Administrator Super Moderator Moderator

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  18. Arboreal

    Arboreal Keeper of the Electric Currants

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    My wife has received an invitation to the InitiativeQ crypotcurrency sign up, and sent her name and email address off.
    She's sent me an invitation, and I'm wondering if anyone's looked at it?
    At first glance it looks a bit 'pyramidy' to me, but some online commentators say that its credentials are better than that, as its creators are ex PayPal.
    It seems they're looking for numbers to get traction, with the promise of Jam tomorrow - it it worth signing up with no obvious risk?
     
  19. Gareth Halfacree

    Gareth Halfacree WIIGII! Staff Administrator Super Moderator Moderator

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    So long as you can deep-six the email address once they sell it to spammers, aye. I've just signed up, just-in-case - ta for the heads-up!

    EDIT:
    So, if it hits its 1Q=$1 target, that's $200 billion. PayPal's total equity (as of 2017 filing) is just under $16 billion, with $41 billion in assets. Yeah, these guys are dreaming. (And it's not a bunch of ex-PayPal people, either: it's one dude who built a security company that PayPal bought in 2008, and he's conveniently left out co-founder Shvat Shaked in the "look wot I did" part of the FAQ.)

    They're also talking about giving away 80 percent of Q in incentives (like the ones we just signed up for), which at the 1Q=$1 target is $1.6 trillion. The current market cap for the entire cryptocurrency market is under $240 billion; PayPal handles about $500-600 billion in transaction volume per year. There's no way Initiative Q is going anywhere, sadly.

    EDIT EDIT:
    They haven't even built the payment network yet! The timeline says that doesn't start until mid-2019 - they're literally drumming up customers for a product that not only doesn't exist but hasn't even had development started yet. And they don't have enough money to develop it, either: I quote, 'the success of the member recruitment campaign is expected to generate interest and help raise sufficient investments for the development of the Initiative Q payment network.'

    You don't get the Qs until 'late 2021 and onwards,' either. Yeah, slightly feeling like I wasted the few minutes it took the thing to give me a CAPTCHA and not crash during registration, now.
     
    Last edited: 24 Oct 2018
  20. Wakka

    Wakka Yo, eat this, ya?

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    Just like all the "other" blockchain initiatives - and part of the reason why the ecosystem as a whole took a massive dump this year. ICO's drummed up millions and millions based purely on hypothetical timelines and whitepapers...
     

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