zak Posted January 17, 2018 Share Posted January 17, 2018 Just now, PieFacE said: Well the good news about all this is, I bet there's a lot of hedge funds etc that have been patiently waiting for the right moment to get into crypto. I think the bounce will be quite strong when it happens. Really wouldn't surprise me to see Bitcoin back at $15-20k in Feb. Hopefully you are right. I dont think there will be much of a bounce for a while (at least 3 months). This is just a correction after the mad crypto rush leading up to Christmas IMO. I mean look at the Bitcoin Google search charts, it was crazy 1 Link to comment Share on other sites More sharing options...
PieFacE Posted January 17, 2018 Author VT Supporter Share Posted January 17, 2018 (edited) I read this, thought it was quite good... We really needed a correction sooner than later to shake some sense into people. Just look at what happened in the last few weeks: • Bitconnect, a literal Ponzi scheme, $2.5 Billion • Tron, literally scamcoin selling the idea of "Web 4.0" to normies on Twitter went to $17 billion • Cardano ballooned to $20 billion on just a whitepaper • Qtum, still no product yet, $4 billion • Dentacoin, literal Bulgarian Pajeetcoin for dentists, $2 billion • Bitcoin Gold, pointless fork of Bitcoin, $4.5 Billion • My aunt is was asking me about how to buy Ripple when she heard my sister tell her about my Bitcoin gains last year Edited January 17, 2018 by PieFacE 1 Link to comment Share on other sites More sharing options...
bobzy Posted January 17, 2018 Share Posted January 17, 2018 3 hours ago, PieFacE said: How low will Bitcoin go? I think to about $8,500 and then the market will hopefully bounce. Currently lower than this. I picked the worst time to invest Link to comment Share on other sites More sharing options...
Stevo985 Posted January 17, 2018 VT Supporter Share Posted January 17, 2018 (edited) I think BTC has actually now fallen to below where it was when I first invested. If not it's very close. If i hadn't branched out into a few other cryptos I think I'd be down on my investment. Edit: I did my maths wrong. I wouldn't be down but I'd "only" be a few hundred quid up. Edited January 17, 2018 by Stevo985 Link to comment Share on other sites More sharing options...
omariqy Posted January 17, 2018 Share Posted January 17, 2018 7 minutes ago, Stevo985 said: I think BTC has actually now fallen to below where it was when I first invested. If not it's very close. If i hadn't branched out into a few other cryptos I think I'd be down on my investment. Edit: I did my maths wrong. I wouldn't be down but I'd "only" be a few hundred quid up. Out of pure luck taking my money out of BTC and ETH a couple of days ago has meant that I still remain in profit, just. Thing is when we look back in 5 years time to this blip they will be barely noticeable in the long term charts. I do think the price has to stabilise at the price in the long term. No idea what that price is though. Link to comment Share on other sites More sharing options...
PieFacE Posted January 17, 2018 Author VT Supporter Share Posted January 17, 2018 Yeah, we're all still early adopters I think. Link to comment Share on other sites More sharing options...
Stevo985 Posted January 17, 2018 VT Supporter Share Posted January 17, 2018 My ETH is still well in profit. I bought one coin when it was worth about £250 and I make it still worth around £625. ARK on the other hand, I only put in about £250 into that too and that's barely above that right now. Link to comment Share on other sites More sharing options...
Risso Posted January 17, 2018 Share Posted January 17, 2018 Took a grand profit out of Ethereum, which I'm very glad about, as it's absolutely tanked over the last couple of days. I'm square at the moment, but going to sit tight and hopefully things will bounce back over time. I've also got a friend who's a currency trader, and he's currently returning about 20% a year on "proper" currencies, so that's going in the right direction. Link to comment Share on other sites More sharing options...
bobzy Posted January 17, 2018 Share Posted January 17, 2018 So tempted to put more money into this soon.... €7,800/BTC at the moment. Link to comment Share on other sites More sharing options...
Genie Posted January 17, 2018 Share Posted January 17, 2018 54 minutes ago, bobzy said: So tempted to put more money into this soon.... €7,800/BTC at the moment. haha, I'm the same Link to comment Share on other sites More sharing options...
PieFacE Posted January 17, 2018 Author VT Supporter Share Posted January 17, 2018 (edited) 50% overall correction, time to bounce? I'm hoping so. Looking at the Bittrex order book I don't see it going lower than $8500, but who knows. Edited January 17, 2018 by PieFacE Link to comment Share on other sites More sharing options...
PieFacE Posted January 17, 2018 Author VT Supporter Share Posted January 17, 2018 Looks like we bounced at about $9200. Link to comment Share on other sites More sharing options...
omariqy Posted January 17, 2018 Share Posted January 17, 2018 Yup. Went back in at that amount so hopefully it will keep rising a bit more. 1 Link to comment Share on other sites More sharing options...
Genie Posted January 17, 2018 Share Posted January 17, 2018 Just need another $60 on the FLIXX price 1 Link to comment Share on other sites More sharing options...
PieFacE Posted January 18, 2018 Author VT Supporter Share Posted January 18, 2018 Just picked up some VEN. Will hold for a year and see how it does. Between WTC and VEN, one of them has to do well. Link to comment Share on other sites More sharing options...
PieFacE Posted January 18, 2018 Author VT Supporter Share Posted January 18, 2018 Excellent piece here on Reddit; Link to comment Share on other sites More sharing options...
Stevo985 Posted January 18, 2018 VT Supporter Share Posted January 18, 2018 Talk to me again about wallets. I couldn't get my head around it last time. I've got currencies in 3 places now. Coinbase, Bittrex and KuCoin. What happens if I get a wallet? Do those coins no longer sit on those exchanges? Essentially I'd be sending the coins to my wallet and keeping them on a flash disk or whatever? I really don't understand how it works. Link to comment Share on other sites More sharing options...
PieFacE Posted January 18, 2018 Author VT Supporter Share Posted January 18, 2018 (edited) Depends on the coins. I'll use ARK as an example as I know you have ARK and it's what I know best. You can download the ARK wallet software (from www.ark.io), and create a wallet. When you create your ARK wallet, you will be given a 12 word phrase to keep and store. Write it down multiple times and store in different locations, as they are essentially the keys to your wallet. Once you create your wallet, you will be given a wallet address. Send your ARK from the exchange to your wallet address. Your ARK will no longer be stored in the exchanges wallet, it will be stored in yours. The only way you can get access them, is by knowing the 12 word phrase you've previously written down. If you lose the phrase, you lose your ARK. The ARK themselves are not stored on your computer, they stored on the ARK blockchain. You can access them from anywhere in the world with any PC providing you know the 12 word phrase. (which is why it's crucial to not keep the 12 word phrase digitally stored on a computer with internet access as someone might find it) Hope that makes sense. Edited January 18, 2018 by PieFacE Link to comment Share on other sites More sharing options...
Stevo985 Posted January 18, 2018 VT Supporter Share Posted January 18, 2018 (edited) 18 minutes ago, PieFacE said: Depends on the coins. I'll use ARK as an example as I know you have ARK and it's what I know best. You can download the ARK wallet software (from www.ark.io), and create a wallet. When you create your ARK wallet, you will be given a 12 word phrase to keep and store. Write it down multiple times and store in different locations, as they are essentially the keys to your wallet. Once you create your wallet, you will be given a wallet address. Send your ARK from the exchange to your wallet address. Your ARK will no longer be stored in the exchanges wallet, it will be stored in yours. The only way you can get access them, is by knowing the 12 word phrase you've previously written down. If you lose the phrase, you lose your ARK. The ARK themselves are not stored on your computer, they stored on the ARK blockchain. You can access them from anywhere in the world with any PC providing you know the 12 word phrase. (which is why it's crucial to not keep the 12 word phrase digitally stored on a computer with internet access as someone might find it) Hope that makes sense. Yeah kinda. So would I need a different wallet for each coin? (I have BTC, ETH, ARK and FLIXX) Edited January 18, 2018 by Stevo985 Link to comment Share on other sites More sharing options...
PieFacE Posted January 18, 2018 Author VT Supporter Share Posted January 18, 2018 (edited) Yep. Well, kinda, depends how you want to go about it... You can use a multi-purpose wallet for BTC & ETH like Jaxx or Exodus. You'll need an ARK wallet for ARK Flixx is an ERC-20 (ETH) token so you might be able to add it to Jaxx or Exodus (I'm not sure, never used them before), alternatively you can use https://www.myetherwallet.com/ and create a new wallet there to add Flixx too. Personally I use one of these to store all my coins... (Ledger Nano S) ... By far the most secure way. Edited January 18, 2018 by PieFacE Link to comment Share on other sites More sharing options...
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