The Cryptotard

Discussion of all things crypto and blockchain.
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Brick's
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The Cryptotard

Postby Brick's » Tue Feb 13, 2018

I'm starting this thread so I don't pollute the other Crypto discussions with my pleas for information, validation I'm doing things correctly, or anything else on this path to increased Crypto awareness I am currently on. If anyone else wants to use it for the same, feel free. Just don't let the Subject name be personal, it's just a good description of how I feel I am about the whole techno universe that looks like it's doing a Big Bang in front of my eyes. Perhaps it will become a journal that will give me psychological solace when I look back on it. Much the way a dear diary does.

So it begins:

There is a lot I am learning just by being on the Binance site. Like trading pairs (did I get that right?) where they list for example where you can trade BTC, ETH, for say BNB and the price from one to the other. Realizing this makes for trading between price spreads using historical cycles between coins.

I also discovered Binance does not take fiat at all. What was I thinking since they had coins listed/U$D amounts, I thought I could buy them like I do stocks with my bank card or account numbers etc. But, this isn't old school economy anymore, it's new school/new economy. Everything I have learned in the past is mostly wrong here, or will be at a not to distant time in the future.

So when my dedicated laptop comes in, I'll have to download some wallet onto it (simpler is better and why I am liking DASH more than Manero, and now must research wallets for a computer) and buy coin from either another exchange or one of you here to make it happen.

LOL, so I have to laugh. Which coin is weak against the U$D but strong against BNB and whatever else I decide to buy? There needs to be an app that does the above for you so you can maximize your crypto purchase. Is there such a thing yet?
"You pompously call your selves Republicans and Democrats. There is no Republican Party. There is no Democratic Party. There are no Republicans or Democrats in this house. You are Lick-Spittlers and panderers, the creatures of the plutocracy".
- Jack London

"It is a government of corporations, by corporations, and for corporations."
- Rutherford B. Hayes, 19th President

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Re: The Cryptotard

Postby Preludedude » Tue Feb 13, 2018

I also learned that Binance only takes trades. So I bought some ETH and BTC on Coinbase to do some trades. Learning the value of the altcoin versus BTC/ETH takes some thought. So you can determine the value of your buy or sell order. I have to get used to using decimal points to the 8th position....

But once I learned how the buy/sell order process works, it is a little easier to comprehend. And you must do the math with all those decimal points to set your desired sell amount or buy amount....

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BarsandStars
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Re: The Cryptotard

Postby BarsandStars » Tue Feb 13, 2018

Pricing things outside of USD takes some getting used to for sure.
Joining Binance to trade cryptos? Click my referral link below!
www.binance.com/?ref=20981136

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Long John
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Re: The Cryptotard

Postby Long John » Tue Feb 13, 2018

I believe the socially acceptable term is CryptoChallenged.

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Rik Bitter
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Re: The Cryptotard

Postby Rik Bitter » Tue Feb 13, 2018

Long John wrote:I believe the socially acceptable term is CryptoChallenged.


Actually it's "Differently Coined"
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Re: The Cryptotard

Postby silverpv » Tue Feb 13, 2018

Just click on the price in eth or btc and it'll display dollar value. Less guesswork for you.. Like so.
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Brick's
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Re: The Cryptotard

Postby Brick's » Tue Feb 13, 2018

Everything requires significant research, or so it is with me . Happily I found this: https://masterthecrypto.com/guide-binan ... e-account/ We'll see if it helps.
"You pompously call your selves Republicans and Democrats. There is no Republican Party. There is no Democratic Party. There are no Republicans or Democrats in this house. You are Lick-Spittlers and panderers, the creatures of the plutocracy".
- Jack London

"It is a government of corporations, by corporations, and for corporations."
- Rutherford B. Hayes, 19th President

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Re: The Cryptotard

Postby Brick's » Thu Feb 15, 2018

I'm looking at Bitrex cryptocurrency listings in pairs. xx/BTC, xx/ETH, xx/U$D. and at the almost far right column they have one called "spread" and it ranges from 0.0 (no spread) to at least 7% on a coin vs ETH. I have an idea what it is but would love to hear an explanation from someone. Thank you in advance.

Is this what I am talking about in the last paragraph of my first post above?
"You pompously call your selves Republicans and Democrats. There is no Republican Party. There is no Democratic Party. There are no Republicans or Democrats in this house. You are Lick-Spittlers and panderers, the creatures of the plutocracy".
- Jack London

"It is a government of corporations, by corporations, and for corporations."
- Rutherford B. Hayes, 19th President

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Long John
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Re: The Cryptotard

Postby Long John » Fri Feb 16, 2018

Spread is the difference between the highest bid offer and lowest sell offer. You could think of it as the gap between bid and ask on the Kitco silver chart.

7% spread sounds like a lot, though, so maybe you're referring to something else.

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Long John
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Re: The Cryptotard

Postby Long John » Fri Feb 16, 2018

Brick's wrote:Which coin is weak against the U$D but strong against BNB and whatever else I decide to buy? There needs to be an app that does the above for you so you can maximize your crypto purchase. Is there such a thing yet?

There may be (or will be) such an app. It would certainly be useful for arbitrage. Some smart programmer or scripter might have customized something like that, but whether they are sharing or selling it I don't know. I bet silverpv is on top of things like that.

I use the sorting function on CoinMarketCap to do a more primitive analysis of the market (you can do the same thing on individual exchanges, but CMC lets you choose different things to sort against). You can use this information to go to your favorite exchange and see if the situation is similar there, and act accordingly.

Here, I have changed USD to LTC and sorted the 24-hour change column to see which coins have gained most against Litecoin in the last day. You could also use BTC and some other major coins to measure against. More likely you'll be looking for coins that have lost most ground against BTC or LTC or whatever coin you're using to trade with, in a search for bargains. Just click the 24-hour change column again to reverse the sort.

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Re: The Cryptotard

Postby Brick's » Thu Feb 22, 2018

I went to a "Bitcoin" seminar tonight given by a financial advisor in the 'Cuse area. This is what I learned: 1) There are now four (4) new "Block Chain" ETFs available in the states and one (1) in Canada. They are BLCN, LEGR, BLOK, KOIN (in the states) and HBLK from Harvest in Canada (more info here - http://www.etf.com/sections/features-an ... nopaging=1 and here - http://harvestportfolios.com/etf/blockc ... dcode=HBLK ); 2) Cryptopay has a prepaid BTC VISA card. "Unfortunately, you can’t order a new Cryptopay card now due to the sudden program closure by our card issuing bank. We’re working on the solution, stay tuned". Also according to their terms and conditions US citizens cannot apply due to regulations (or possibly the lack thereof,) but this won't stop me from trying; 3) Netflix has a documentary called Banking on Bit Coin here: https://www.youtube.com/watch?v=ymtxlI65B3s

The best part is I was in a room with more people who knew "something" about Crypto than my entire life prior. They also served free beer and pizza.
"You pompously call your selves Republicans and Democrats. There is no Republican Party. There is no Democratic Party. There are no Republicans or Democrats in this house. You are Lick-Spittlers and panderers, the creatures of the plutocracy".
- Jack London

"It is a government of corporations, by corporations, and for corporations."
- Rutherford B. Hayes, 19th President

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Re: The Cryptotard

Postby tdtwedt » Thu Feb 22, 2018

Brick's wrote: They also served free beer and pizza.


:thumbup:
There are more ways than one to skin a cat.

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Re: The Cryptotard

Postby Brick's » Fri Mar 02, 2018

Weiss Rating is making a big marketing push: https://finance.weissratings.com/report ... ro8iWX&g=0
to buy into their new crypto-investment strategy.

This is a link to a video they sent me in an E-mail. Not bad. Some good information at a level The Cryptotard can understand. Seven things to look at what is being offered by the crypto. They name four cryptos that are very highly rated and five to avoid (not shatcoins).

I like the potential of the strategy they put forward. I don't like the price. Putting their ratings where their mouth is. If the rating are shat, the strategy performance will be too.

Pulling data wherever I can find it and the link seems to work prior to posting.

Cheers my friends.
"You pompously call your selves Republicans and Democrats. There is no Republican Party. There is no Democratic Party. There are no Republicans or Democrats in this house. You are Lick-Spittlers and panderers, the creatures of the plutocracy".
- Jack London

"It is a government of corporations, by corporations, and for corporations."
- Rutherford B. Hayes, 19th President

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Re: The Cryptotard

Postby Brick's » Wed Mar 07, 2018

I'm getting ready to go to work as the new spring season has started. Looking at the Crypto charts this morning and I've spent the last few weeks watching the Crypto market more closely. I wasn't ready on the last sell off but, I'm looking to get ready for the next. If I'm not mistaken, a few of the more favorable alts: ADA; NEO; EOS; DASH are looking to or have already broken thru areas of support (technical analysis charts). As an opportunist, I like this. Would like to see XMR, QTUM and OMG join this group but I'm patient. Anyone else seeing/feeling a keep your powder dry moment on the horizon?

Continued looking for the right exchange to start with. Binance won't take your money and Bitfinex has a minimum of $10,000 which is more than I can afford to lose at the moment. The search is still on and should be fun. I'll let you all know what I learn from it.
"You pompously call your selves Republicans and Democrats. There is no Republican Party. There is no Democratic Party. There are no Republicans or Democrats in this house. You are Lick-Spittlers and panderers, the creatures of the plutocracy".
- Jack London

"It is a government of corporations, by corporations, and for corporations."
- Rutherford B. Hayes, 19th President

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Re: The Cryptotard

Postby SilverDoge » Wed Mar 07, 2018

Brick's wrote:Continued looking for the right exchange to start with. Binance won't take your money and Bitfinex has a minimum of $10,000 which is more than I can afford to lose at the moment. The search is still on and should be fun. I'll let you all know what I learn from it.


My understanding is that Bitfinex has phased out US customers. Binance takes my [crypto] money just fine. For fiat to crypto, you'll need either Coinbase, Kraken, Gemini or a few others.
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Re: The Cryptotard

Postby Brick's » Wed Mar 07, 2018

SilverDoge wrote: Binance takes my [crypto] money just fine. For fiat to crypto, you'll need either Coinbase, Kraken, Gemini or a few others.


I had it right the first post, here:
Brick's wrote:I also discovered Binance does not take fiat at all.


I just got lazy with the nomenclature and never got far enough thru the process with Bitfinex to discover being an American doesn't work with them. Why I could enjoy a dual citizenship and not deal with limitations both from within and without the U.S. system. But, greatly appreciate the list as a starting point.
"You pompously call your selves Republicans and Democrats. There is no Republican Party. There is no Democratic Party. There are no Republicans or Democrats in this house. You are Lick-Spittlers and panderers, the creatures of the plutocracy".
- Jack London

"It is a government of corporations, by corporations, and for corporations."
- Rutherford B. Hayes, 19th President

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Re: The Cryptotard

Postby Brick's » Wed Mar 07, 2018

This is the way exchanges look thru my eyes from the last hour and a half:

CoinBase trades Bitcoin, Bitcoin Cash, Lite Coin and ETH. A convoluted fee schedule that ranges from variable to 4.0%.
Nothing I want.

Kraken trades the same as CoinBase and about 13 others. Only three I have interest in. Tier based fees from .26% to 0.

Gemini (Winklevoss) trades BTC, ETH and USD. Fees .25% to 0 determined by your gross trading volume.
Nothing I want.

Bittrex trades enough of what i like in USD @.25%. Neo looks to be free to deposit or withdraw. I'd go with these guys in a second but they are only accepting new account requests from our corporate customers and select invitees.

Exchanges suck. Frustration factor is high right now.
"You pompously call your selves Republicans and Democrats. There is no Republican Party. There is no Democratic Party. There are no Republicans or Democrats in this house. You are Lick-Spittlers and panderers, the creatures of the plutocracy".
- Jack London

"It is a government of corporations, by corporations, and for corporations."
- Rutherford B. Hayes, 19th President

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Long John
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Re: The Cryptotard

Postby Long John » Wed Mar 07, 2018

Brick's wrote:CoinBase trades Bitcoin, Bitcoin Cash, Lite Coin and ETH. A convoluted fee schedule that ranges from variable to 4.0%.

Trading on GDAX (part of Coinbase) is free if you use limit trades. However, this is a federally insured exchange and they will report your taxable events (selling, trading) to the IRS if you top $20K worth of such events in a year. Figuring out your cost basis to calculate your tax liability is up to you. If you keep your activity below the reporting threshold, the free trades are very attractive. And moving cash in and out of GDAX is easy and free, though the free route requires a wait of a few days. Only 4 currencies, though. Just wanted to point out that the "variable to 4.0%" thing targets new people entering the game, who don't know the GDAX ropes yet.

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SilverDoge
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Re: The Cryptotard

Postby SilverDoge » Thu Mar 08, 2018

Brick's wrote:This is the way exchanges look thru my eyes from the last hour and a half:

CoinBase trades Bitcoin, Bitcoin Cash, Lite Coin and ETH. A convoluted fee schedule that ranges from variable to 4.0%.
Nothing I want.

Kraken trades the same as CoinBase and about 13 others. Only three I have interest in. Tier based fees from .26% to 0.

Gemini (Winklevoss) trades BTC, ETH and USD. Fees .25% to 0 determined by your gross trading volume.
Nothing I want.

Bittrex trades enough of what i like in USD @.25%. Neo looks to be free to deposit or withdraw. I'd go with these guys in a second but they are only accepting new account requests from our corporate customers and select invitees.

Exchanges suck. Frustration factor is high right now.


I would estimate that most people only use Coinbase (GDAX), Kraken or Gemini as their fiat on-ramp exchanges. Bittrex is NOT the place to acquire NEO. The exchange keeps your generated GAS, and there have been serious withdraw issues for NEO for dubious reasons in the past. People were literally selling their NEO for LTC or BTC, transferring that to Binance, and buying NEO. Binance is currently the best exchange IMHO. Zero fees for withdrawing NEO, you keep your GAS, half off trades if you use your BNB balance (buy a little BNB to start with), up to a 2 BTC daily withdraw without full KYC, many alts to choose from (not QRL yet though). The only downside is that I can't see the full order book, but that is not a great metric anyway, and the withdraw fees for non-NEO crypto are higher than some other exchanges.

My advice, use GDAX to go from fiat to crypto with limit orders (zero fees), and transfer your newly acquired BTC to Binance (zero fees) to then trade into the alts you desire. *

* This advice is not financial advice for investment purposes. It is for educational and entertainment purposes only.
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Re: The Cryptotard

Postby Brick's » Thu Mar 08, 2018

SilverDoge wrote:[My advice, use GDAX to go from fiat to crypto with limit orders (zero fees), and transfer your newly acquired BTC to Binance (zero fees) to then trade into the alts you desire.


One step at a time. 1st is acquire Crypto. 2nd then learn how to transfer. I have a Binance account. But as expressed in my first post, they don't take fiat. Easy to discover the best exchange. More difficult to get to use it. Binance not taking fiat requires two other very necessary learning curve steps. 1) Open another account (complete with learning the manipulation of new site/web pages and their nuances (the Coinbase/GDAX ropes) 2) learning how to transfer (no doubt another 2 or three can of worms).

aha moment: Coinbase is more retarded than I am. But, I may be forced to use it (GDAX) due to lack of choice. The Bittrex snake is best left untouched least one gets bit. (A world full of snakes, sharks, and alligators).

And thank you both for your educational and entertaining advice.

Edited to add: Does the below link work towards Coinbase's GDAX and is it safe?

Get $10 in bitcoin when you spend $100 with the link below.
https://www.coinbase.com/join/593f314703c4930098573eed

Doesn't matter. Already joined however "something went wrong" when I tried to use my debt card as my source of funds as a choice. Everything entered correctly (checked twice, two times). Not ready to over my bank account info to them yet. I'm starting to really not like Coinbase.
"You pompously call your selves Republicans and Democrats. There is no Republican Party. There is no Democratic Party. There are no Republicans or Democrats in this house. You are Lick-Spittlers and panderers, the creatures of the plutocracy".
- Jack London

"It is a government of corporations, by corporations, and for corporations."
- Rutherford B. Hayes, 19th President


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