12-27-2017, 03:05 PM
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#181
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#1 Goaltender
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Quote:
Originally Posted by TSXCman
I've been using nTrust to purchase BTC, now I can't transfer them to my Quadriga account to purchase other coins until I'm verified... (can't add $ to Quadriga until verification is complete too). All this verification business is very handcuffing. Definitely going to be difficult to pull my money out when the time comes.
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I'm surprised you can't transfer BTC to Quadrica without verification. Every exchange I've seen will allow you to deposit BTC without being verified, as well as purchase other coins. Withdrawls however generally require verification but once you are verified shoudn't be an issue.
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12-27-2017, 09:51 PM
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#182
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Basement Chicken Choker
Join Date: Jan 2007
Location: In a land without pants, or war, or want. But mostly we care about the pants.
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I can definitely see how this is the future of commerce. Who wouldn't want to send in their passport info and wait a few weeks to convert your boring old gov't-backed currency into magic internet-backed beans? Right now I can tap my phone at the till and pay for donuts instantly, but in the future I will be able to tap my phone and pay for donuts after waiting a mere few hundred seconds for my transaction to be verified by the blockchain!
__________________
Better educated sadness than oblivious joy.
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12-28-2017, 07:31 AM
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#183
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Lifetime Suspension
Join Date: Sep 2011
Location: Calgary
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Quote:
Originally Posted by jammies
I can definitely see how this is the future of commerce. Who wouldn't want to send in their passport info and wait a few weeks to convert your boring old gov't-backed currency into magic internet-backed beans? Right now I can tap my phone at the till and pay for donuts instantly, but in the future I will be able to tap my phone and pay for donuts after waiting a mere few hundred seconds for my transaction to be verified by the blockchain!
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Brb, creating cryptodonuts app.
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12-28-2017, 07:49 AM
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#184
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Franchise Player
Join Date: May 2002
Location: Virginia
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Quote:
Originally Posted by jammies
I can definitely see how this is the future of commerce. Who wouldn't want to send in their passport info and wait a few weeks to convert your boring old gov't-backed currency into magic internet-backed beans? Right now I can tap my phone at the till and pay for donuts instantly, but in the future I will be able to tap my phone and pay for donuts after waiting a mere few hundred seconds for my transaction to be verified by the blockchain!
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Don't forget the $35 transaction fee to buy the donut. But at least no one can ever prove that you bought that donut! (well, except for the 10 minutes of surveillance video while you waited for your transaction to clear).
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12-28-2017, 09:53 AM
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#185
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Realtor®
Join Date: Feb 2009
Location: Calgary
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Quote:
Originally Posted by The Fonz
Planned to buy myself 100xRipple and 500xStellar for Christmas (I am gambling here, not investing), but it is damn painful.
Kraken is a $2000 USD minimum deposit.
GateHub won't text out my cellphone PIN authorization.
BitStamp taking forever to verify me.
Haven't started a wallet yet. Anyone in here that owns either/both of Ripple/Stellar have any recommendations?
Christ almighty, I'm almost ready to throw in the towel.
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I started buying ripple at 22c and used coinbase to bitfinex as the route.
Coinbase allowed me to purchase bitcoin but on a very restricted basis of $50 a week to $250 a week. When ripple spiked I got fed up and went to the pizzeria in varsity and plugged what my total "gamble" limit.
From there, you download the jaxx app, scan the qr code, plug the machine with money and then send the money from the jaxx app to your bitfinex wallet.
From bitfinex you can convert bitcoin to xrp instantly.
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12-28-2017, 12:32 PM
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#186
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Our Jessica Fletcher
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Quote:
Originally Posted by Krovikan
Bitcoin cash jumped because a major bitcoin investor is doing a pump and dump scam, and everyone is falling for it hook line and sinker. At the same time crashing the price of bitcoin to double dip in the scam.
Sent from my Pixel 2 XL using Tapatalk
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Good catch, BCH down 37% since this post.
I still have zero skin in this game, but haven't been able to look away from the markets. The volatility and obvious schemes at play are fascinating to watch.
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12-28-2017, 01:53 PM
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#187
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Our Jessica Fletcher
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Also interesting, Bitcoin's market share has fallen from 44.5% to 43.0% in a matter of about 3 days. That's a huge swing (~$9B) toward altcoins, largely picked up by Ripple.
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12-28-2017, 06:02 PM
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#188
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Had an idea!
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While I think blockchain technology will have its place, I can't see crypto currency doing much unless they figure out a way to make it instant and VERY easy.
Cause Samsung Pay is VERY easy and quick for me right now.
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12-28-2017, 06:24 PM
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#189
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Powerplay Quarterback
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Quote:
Originally Posted by Azure
While I think blockchain technology will have its place, I can't see crypto currency doing much unless they figure out a way to make it instant and VERY easy.
Cause Samsung Pay is VERY easy and quick for me right now.
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The fastest block chains in the 3rd gen are as fast as interact and credit card networks. They are just too new to have mass adoption.
TenX also is hooking into the prepaid MasterCard that you load up with Bitcoin and/or Eth ( more coming) and it'll pay in local currency. This has had wild success in Europe and will be doing a Global rollout in Q1 of 2018.
Also, block chains have already picked up in the 3rd world where most people don't have bank accounts yet people still need to be paid in a secure way. Forbes had a podcast that did an interview with one of the major IT providers in Afghanistan earlier this year talking about this.
Finally, you are looking at currencies in the traditional sense, for example, IOTA will be a currency to incentivizes data sharing between IoT devices. An example of this would be automated cards having a platform where you car earns currency by sharing data and buys data from other cars.
Sent from my Pixel 2 XL using Tapatalk
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12-28-2017, 10:30 PM
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#190
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Franchise Player
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The US doesn’t even have tap and just got chip like 20 minutes ago. I can’t see this adoption in that market for a very very long time.
Sent from my iPhone using Tapatalk
__________________
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12-28-2017, 10:46 PM
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#191
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Franchise Player
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Quote:
Originally Posted by corporatejay
The US doesn’t even have tap and just got chip like 20 minutes ago. I can’t see this adoption in that market for a very very long time.
Sent from my iPhone using Tapatalk
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Good thing US is the only economy in the world !
Imagine living in an economy where the banking system is either corrupt or could fail overnight . Or one that won’t allow you to move your money freely out of the country.
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12-29-2017, 06:11 PM
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#192
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First Line Centre
Join Date: Nov 2010
Location: Sherwood Park, AB
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Quote:
Originally Posted by Jason14h
Good thing US is the only economy in the world !
Imagine living in an economy where the banking system is either corrupt or could fail overnight . Or one that won’t allow you to move your money freely out of the country.
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From reading this thread it looks like Canadians are having a hard time just getting bitcoins, do these 3rd world countries have it all figured out already?
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12-29-2017, 07:29 PM
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#193
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Franchise Player
Join Date: Mar 2006
Location: Shanghai
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Years ago people were saying this was all valueless as well, but it has continued to pick up steam. There is truth in that whether not cryptocurrencies can jump the chasm from early adopters to mainstream will depend upon user experience and real value delivery, but we're still at a very early stage for lots of these blockchains. Many will fail, simply because they don't have a sustainable model or the right people behind them, but there are also legit, very powerful models of value delivery being created and those are going to have big futures. To only consider the functionality of something like bitcoin for buying donuts at your local café is maybe pointing out one use case that isn't a great prospect, but it ignores the masses of other important uses that will be fulfilled. It's the wild west right now with lots of bs in the market, but there is gold in them that hills too.
__________________
"If stupidity got us into this mess, then why can't it get us out?"
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12-29-2017, 09:43 PM
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#194
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Our Jessica Fletcher
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Anyone ever used Cointex.net? I can't find any reviews, or information on them whatsoever. Not sure if the exchange is safe to use.
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12-29-2017, 11:21 PM
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#195
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Franchise Player
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Quote:
Originally Posted by indes
From reading this thread it looks like Canadians are having a hard time just getting bitcoins, do these 3rd world countries have it all figured out already?
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Only a Canadian who doesn’t know how to use Google is having an issue!
Or I guess people who don’t own a drivers license to upload . But those people can’t get bank accounts either !
Almost like they follow financial institution KYC policies
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12-29-2017, 11:32 PM
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#196
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Powerplay Quarterback
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I have been meaning to make a giant post about different cryptocurrencies and my opinions on them, so here goes. To start disclaimer, these are my personal opinions, based on research I have done, everyone should do their own research on cryptocurrency before investing.
Bitcoin - The first to market, will have a good trajectory, $20k is too much for its current value, but the currency should be able to support a 20k price in 2018. 2018 Bitcoin should be able to support a 40k price in my opinion.
The coin is first to market, have all the media attention, and therefore is the king of the cryptocurrency. The actual network is poor, and if you put your money in (ignoring the hype bumps) you should be able to maintain the value of your investment with steady increases.
All bitcoin forks (current and future), etc, litecoin - Why do these exist? how do they really have value? I stay away from them, even though I technically have ~0.01 in each of them.
Ethereum - The technical king of cryptocurrency, a good stable currency that will increase its value over time. Most apps and tokens are built in this network. Gas is directly related to Ethereum which means every transaction from all dapps will cause an eth transaction keeping a need for the coin.
Their development team is SLOW and if they don't get their act together fast another coin could take over their position but this won't until 2019 at the earliest if not 2020. If you are paying attention you will be able to get your investments out before the currency crashes (if this scenario happens).
Ripple - Unless you care about their interbank tech you should not invest in this coin, it is set up like a traditional currency and therefore the price should be stable like a western currency. That being said this currency is overhyped right now and in my opinion is trading well above it's supported price at $2.50, in my opinion, this coin is really valued at a sub-dollar range.
What do I mean it's set up like a currency? The inflation of this coin is large compared to most cryptocurrency, which will create a deflation pressure on the coin price so as the market cap goes up the value of the coin "should" be controlled. That said the news seems to be overhyping ripple lately. This is the currency that all the banks seem to be behind.
Some of the people that are involved in Ripple have very poor reputations in the crypto-community so this is also a negative.
Those are the top coins, and for full disclosure below is my current portfolio of cryptocurrency:
FIN: 5.59%
NOM: 5.59%
XVG: 2.38%
Eth: 35.86% (mining)
SIA: 0.49% (just sold most of my position + mining)
SUB: 13.79%
NEO: 12.94%
IOTA: 6.85%
PAY: 13.72%
BTC: 2.78%
Alright, so some of the lesser known coins:
STORJ - Stay away, just liquidated my position, they are competing with FileCoin and SIA. Sia feels the more niche position but FileCoin is spun off from IPFS project which is much more organized and seems like they may have better tech. Also, STORJ has a ridiculous percentage of the coins still which means there is always a risk that they could use those coins to cover their operating costs a inflate the currency available on the market and tank the price.
They also do not have a good relationship with their community and have a serious problem with taking advice from users. They label those that criticize trolls and ban them, they also have a constant restructuring of their management team. All and all a very unstable project.
(I just liquidated my positions and shut down my STORJ shares)
FIN & NOM - Finom is the owner of one of the bigger mining pools (Nanopool), have a larget mining company, and own several trading platforms. They are looking to expand their platform to be a one-stop shop for financial transactions and utilities for cryptocurrencies.
They have a solid business, and just raised over $40 million, they have some potential for long-term growth. Too early to tell if it is too the moon potential, but low-risk investment in my opinion.
Verge - They are a privacy coin, that is competing with Dash and Monero, they will be releasing their Wrath protocol in January which in my opinion is better than both Monero and Dash. In 2018 I expect them to have a larget market cap them Monero.
SIA - Niche file storage sharing, just not good enough to compete. That being said I dual mine this coin as it is the most profitable. I would not consider a short or long term investment in this coin.
SUB - Distribute internet company competing with MaidSafe, MaidSafe has ben stalled for a while now and does not seem to be coming to market any time soon. I fully expect SUB to beat MaidSafe's market cap in 2018.
Neo - Chinese Ethereum, suspected to be backed by the Chinese government. It is a slightly better technology then Ethereum and should attract a lot of DAAPs and Tokens from the Chinese markets. Unlike Ethereum POS is implemented and GAS and NEO are sperate, so the value of the NEO coin may be limited. That being said holding NEO pays dividends of GAS due to the POS algorithms. My target for NEO for 2018 is 250-350.
IOTA - IoT coin that does not have transactions fees, this could solve a massive IoT data problem that proprietary IoT devices have, this could become a staple currency like ETH and Bitcoin.
Pay - TenX's coin, they link to the MasterCard prepaid network to allow you to pay with cryptocurrencies anywhere that accept MasterCards. You just load up their wallets with currency, order their cards, and then start shopping.
This is a very cool project, that has been very succesful in Europe, they have had a lot of supply problems with meeting demands of their cards. They are rolling out to the rest of the world in 2018, we are still waiting for what "the rest of the world" include as it probably doesn't include all countries.
The issue with this project long term is unlike a countries currency, the governing bodies of cryptocurrency are not trying to encourage consumption so most cryptocurrencies are set up as deflationary coins versus inflationary coins. This means you have the incentive to hold on to your currency as it will increase in value and reduce spending with the coin. So spending of currently supported cryptocurrencies (ETH and BTC) should be low. That being said, our current social structure pushing us to consume (spend) and therefore the concern may be a moot point.
I'm currently researching 2 different coins Cardano and PRIVX for potential investments, not done yet though. And have three ICOs that I am looking at for Jan Experty, InsurePal, and The Bee Token. But all that research is really too early to comment.
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12-30-2017, 06:19 AM
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#197
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Franchise Player
Join Date: Mar 2006
Location: Shanghai
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What do others here think of Steem? Anyone sharing content on this platform?
I have shared a number of articles on Steemit, and I've also bought Steem because I think there's value in community and media sharing which has a good level of stickiness to it. It's also a great place for reading and learning about cryptos because so many people on it are naturally very involved in blockchain.
__________________
"If stupidity got us into this mess, then why can't it get us out?"
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12-30-2017, 06:23 AM
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#198
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Truculent!
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Came in to check out the thread, left thinking I was reading a different language.
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12-30-2017, 11:37 AM
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#199
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Our Jessica Fletcher
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Quote:
Originally Posted by Jason14h
Only a Canadian who doesn’t know how to use Google is having an issue!
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Don't make it out to be such a simple process. The exchanges where you can fund with USD and purchase crypto are so backlogged that verification is taking weeks (some exchanges are outright saying "no new verifications at this time"), with funding the account after verification expected to take weeks again. The exchanges where no verification is required, and crypto can be purchased with a credit card, are showing "server unavailable" and have been doing so since the Fall.
It's incredible that there is not an exchange capable of taking my credit card and selling me crypto, without the month of dicking around.
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12-30-2017, 12:34 PM
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#200
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Had an idea!
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Wasn't there an exchange based out of Calgary that did a pretty good job?
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