Xela Posted December 6, 2017 Share Posted December 6, 2017 Fascinating stuff @PieFacE. So much to learn and take in 3 Link to comment Share on other sites More sharing options...
Genie Posted December 6, 2017 Share Posted December 6, 2017 (edited) 8 minutes ago, PieFacE said: I have a figure in my head for which i'd cash 50% out. I think i'd always leave some in to be honest. If I was in that hypothetical you just proposed (though it does kind of depend on what coins you're holding) I'd certainly stay all in whilst the market is in it's current state. Only seems to be growing at the minute. Whilst it's possible for the whole of crypto to crash like it did in 2013, it's a very different space now. People have accepted the volatility. Bitcoin could drop $1000 and within a day it will bounce back because there's a whole lot of people/business/hedge funds etc wanting to get in and keep buying up all the dips. Whereas in 2013 if Bitcoin dropped 50% people would panic sell. It's a completely different space now to what it used to be imo. Different beast so i'd keep my money in. See what I like about a lot of coins is that you can stake your coins and receive a 5-10% ROI a year. For example, currently with the amount of ARK I have, I receive 13 ARK a day for staking them. If ARK goes to £50 for example, that's £650 a day just as a passive income, or £18,000 a month. When you're receiving a passive income like that, it's kinda hard to sell your coins But there's loads of different consensus models POW = Proof of Work (Mining) POS = Proof of Stake (You get rewarded for how much stake you have, but requires keeping a computer on with your wallet open) DPOS = Delegated Proof of Stake (You get rewarded for voting for delegate to run the network, no computer is required to be on) LPOS - Leased Proof of Stake (Very similar to DPOS but the rewards are less) DPOS and LPOS are the future in my opinion as they are incredibly energy efficient. You can run a whole decentralised blockchain network using the power consumption of a small office block. Whereas bitcoin mining is simply **** ridiculous how much energy it consumes. https://www.rt.com/business/411777-bitcoin-mining-electricity-states-power/ This is incredibly interesting! How do you manage to take an income from it as opposed to just holding them in a wallet like shares and watching their value go up and down? Is there a fools option (I guess with a commission) where a site manages it and punts out a dividend? Edited December 6, 2017 by Genie 1 Link to comment Share on other sites More sharing options...
PieFacE Posted December 6, 2017 Author VT Supporter Share Posted December 6, 2017 11 minutes ago, Genie said: This is incredibly interesting! How do you manage to take an income from it as opposed to just holding them in a wallet like shares and watching their value go up and down? Is there a fools option (I guess with a commission) where a site manages it and punts out a dividend? Using my situation as an example, 13 ARK pop into my wallet every day. With that 13 ARK, i can either just hold them and watch my ARK balance grow over time (which is what I do now), or I can sell them for bitcoin, and then sell the bitcoin for fiat (££). Crypto is very clear that your reward isn't a dividend, as then it becomes a security and needs to be regulated in certain ways. The SEC has already removed a lot of coins from exchanges as they promised to pay out a dividends. Link to comment Share on other sites More sharing options...
Genie Posted December 6, 2017 Share Posted December 6, 2017 1 hour ago, PieFacE said: Using my situation as an example, 13 ARK pop into my wallet every day. With that 13 ARK, i can either just hold them and watch my ARK balance grow over time (which is what I do now), or I can sell them for bitcoin, and then sell the bitcoin for fiat (££). Crypto is very clear that your reward isn't a dividend, as then it becomes a security and needs to be regulated in certain ways. The SEC has already removed a lot of coins from exchanges as they promised to pay out a dividends. So are you farming/mining these or just an investor? Link to comment Share on other sites More sharing options...
PieFacE Posted December 6, 2017 Author VT Supporter Share Posted December 6, 2017 (edited) 45 minutes ago, Genie said: So are you farming/mining these or just an investor? It's difficult to explain. But i'll try. There are 51 "forging" nodes which are voted in by the community. Each forging node creates 420 ARK every day. The person running the forging node will share a % of the 420 ARK with their voters. (I run a node which shares 92% of ARK with my voters, resulting in me making an additional 32 ARK a day). It's a good model imo because it encourages the community to take an active role and pay attention to who is running the network, and for that they get rewarded with free ARK. If there was someone doing a shit job of running the network, the community could move their votes to someone who would do a better job. You vote with the amount of ARK you possess... so if you have 5000 ARK, your vote weight is 5000. Not sure if that makes sense ha. Edited December 6, 2017 by PieFacE 1 Link to comment Share on other sites More sharing options...
Genie Posted December 6, 2017 Share Posted December 6, 2017 (edited) 29 minutes ago, PieFacE said: It's difficult to explain. But i'll try. There are 51 "forging" nodes which are voted in by the community. Each forging node creates 420 ARK every day. The person running the forging node will share a % of the 420 ARK with their voters. (I run a node which shares 92% of ARK with my voters, resulting in me making an additional 32 ARK a day). It's a good model imo because it encourages the community to take an active role and pay attention to who is running the network, and for that they get rewarded with free ARK. If there was someone doing a shit job of running the network, the community could move their votes to someone who would do a better job. You vote with the amount of ARK you possess... so if you have 5000 ARK, your vote weight is 5000. Not sure if that makes sense ha. So how do I get a job as one of your voters? Kidding of course, it’s a fascinating subject so I’ll be looking into it even if I never get actively involved. Edited December 6, 2017 by Genie Link to comment Share on other sites More sharing options...
Xela Posted December 6, 2017 Share Posted December 6, 2017 38 minutes ago, Genie said: So how do I get a job as one of your voters? Kidding of course, it’s a fascinating subject so I’ll be looking into it even if I never get actively involved. I'll be your broker Genie Just send me all your cryptocurrency and leave the rest to me Link to comment Share on other sites More sharing options...
Genie Posted December 6, 2017 Share Posted December 6, 2017 1 hour ago, Xela said: I'll be your broker Genie Just send me all your cryptocurrency and leave the rest to me If I send you my login and password details you can just help yourself Link to comment Share on other sites More sharing options...
PieFacE Posted December 6, 2017 Author VT Supporter Share Posted December 6, 2017 Bitcoin $14k. This is insane. 2 Link to comment Share on other sites More sharing options...
Genie Posted December 7, 2017 Share Posted December 7, 2017 $14,721 as it stands. Link to comment Share on other sites More sharing options...
Stevo985 Posted December 7, 2017 VT Supporter Share Posted December 7, 2017 It's absolutely rocketing. Up 20% in the past 24 hours Link to comment Share on other sites More sharing options...
PieFacE Posted December 7, 2017 Author VT Supporter Share Posted December 7, 2017 (edited) RE: IOTA.This is why you don't buy into hype. ARK taking a bit of a battering today, down to rank 33. Time to buy some more I think Edited December 7, 2017 by PieFacE Link to comment Share on other sites More sharing options...
Genie Posted December 7, 2017 Share Posted December 7, 2017 With bittrex, from what I can tell you can’t buy with cash/card only using bitcoin. Does that mean I buy with something like Coinbase, send over to my bittrex wallet an then use the coins to buy something like ARK? Link to comment Share on other sites More sharing options...
PieFacE Posted December 7, 2017 Author VT Supporter Share Posted December 7, 2017 (edited) 41 minutes ago, Genie said: With bittrex, from what I can tell you can’t buy with cash/card only using bitcoin. Does that mean I buy with something like Coinbase, send over to my bittrex wallet an then use the coins to buy something like ARK? Correct. Bitcoin at $15k now. $20k by Christmas? Edited December 7, 2017 by PieFacE 1 Link to comment Share on other sites More sharing options...
sexbelowsound Posted December 7, 2017 Share Posted December 7, 2017 Is this rapid rise in Bitcoin due to others jumping on board and investing? Link to comment Share on other sites More sharing options...
villakram Posted December 7, 2017 Share Posted December 7, 2017 (edited) Futures trading is opening up on the CME and Nasdaq in the next couple of weeks. Who'll be brave enough to short this sucker... maybe the large coin holders? Remember also that bitcoin is a global currency/asset and it is very easy to be altogether ignorant of what the 3 billion people in Asia are up to (for example, I am), and that's an awful lot of capitol that wants to move about. Edited December 7, 2017 by villakram Link to comment Share on other sites More sharing options...
PieFacE Posted December 7, 2017 Author VT Supporter Share Posted December 7, 2017 $19500 wtf 2 Link to comment Share on other sites More sharing options...
Daweii Posted December 7, 2017 Share Posted December 7, 2017 7 minutes ago, PieFacE said: $19500 wtf Saw that coming. Every time Bitcoin has corrected, it has gone on to surge vastly faster than it ever had before. I see it correcting again at $25-30k back down to $17k and then pushing on to $50k. Every time it corrects people panic and sell, when the correction is just the precursor to everyone getting even more rich. Maybe eventually it won't work like that, but as it stands we're just getting started with this one. Link to comment Share on other sites More sharing options...
Genie Posted December 7, 2017 Share Posted December 7, 2017 Absolutely bonkers couple of hours Link to comment Share on other sites More sharing options...
coda Posted December 7, 2017 Share Posted December 7, 2017 1 Link to comment Share on other sites More sharing options...
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