TBiddy
Member
How do you figure that? The appeal of Ethereum, in my opinion, is that many coins are based on the ERC20 rules, and also that many exchanges offer trading with either BTC or ETH.
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Bitcoin, Cryptocurrency, Blockchain, and You: Navigating the Future of Tech (a NeoGAF discussion thread)
How do you figure that? The appeal of Ethereum, in my opinion, is that many coins are based on the ERC20 rules, and also that many exchanges offer trading with either BTC or ETH.
bigedole
Member
Ethereum is much faster with much lower fees than BTC. They're also shifting over to a POS algorithim for minting new coins, which is wildly popular with investors (and much easier on power grids). It is widely known that BTC is struggling to handle the volume of transactions and lightning does not seem to be the great savior that was promised. Ethereum simply makes more sense. If you look at the top 50 coins right now the vast majority are ERC20 and there are platforms already in development that will allow smart contracts between them.
I do think Ethereum will hit its own walls, but it's clearly a superior technology to BTC right now in the short term.
TBiddy
Member
I agree and those are all good points, but I don't see how any of the backs up your claim that "something else" will challenge the position of ETH.
TBiddy
Member
Ah, I misunderstood your question thenThat's just a general feeling I have. Blockchain is still in its infancy and the barriers to entry are low. Would be silly to think the best is already here, right?
True - but for now, ETH is the best we have I think. It's hard to predict anything, especially the future. Right now I just need the market to turn around!
Re: Bitcoin vs Ethereum, I could see them decoupling further, although that's really been the case for a while now if you look wider out on the charts. Most of the major altcoin exchanges have Eth trading pairs live now, though, and Eth is easier/faster to move around, yeah, and the additional confidence of all the ERC20 tokens dependent on it. Several of the other top 10 cryptos are partially decoupled from btc too though. Ripple's an obvious one, mostly due to the SK market and now Stellar looks like it's not pegged so heavily to Ripple anymore either (xrp-xlm flip in 2018?). Neo also tends to show resilience to market swings and seems like a stealth powerhouse.
Bitcoin has always survived and stayed at #1, though. No guarantees of that continuing, but it's battle hardened like no other crypto out there. That may not be important to the recent influx of short term speculative money trying to get in and out with a quick buck, but I expect it'll keep mattering in the long run.
That being said, diversifying into altcoins while Bitcoin was at/near ATH recently was a strong move in hindsight for anyone who did so. We saw it happening with each market swing over and over: recovery for BTC, crypto market cap increase, BTC dominance as a percentage shifting downward. Eth and some others have held up significantly better than BTC during this latest "crash." But Eth almost overtook Btc once before already. No one knows how it'll play out. I'm not providing any financial advice, but diverse holdings tend to save your ass, whether it's crypto or anything else.
It'll be an interesting year. Hell, it'll be an interesting month.
Bitcoin has always survived and stayed at #1, though. No guarantees of that continuing, but it's battle hardened like no other crypto out there. That may not be important to the recent influx of short term speculative money trying to get in and out with a quick buck, but I expect it'll keep mattering in the long run.
That being said, diversifying into altcoins while Bitcoin was at/near ATH recently was a strong move in hindsight for anyone who did so. We saw it happening with each market swing over and over: recovery for BTC, crypto market cap increase, BTC dominance as a percentage shifting downward. Eth and some others have held up significantly better than BTC during this latest "crash." But Eth almost overtook Btc once before already. No one knows how it'll play out. I'm not providing any financial advice, but diverse holdings tend to save your ass, whether it's crypto or anything else.
It'll be an interesting year. Hell, it'll be an interesting month.
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bigedole
Member
I'm also pondering buying more. I already bought a few more Eth at 1k, so I think I've stretched my wife's tolerance as much as I can. With the stock markets also being down, she's a bit done with me talking about investing hehe.
TBiddy
Member
That's a good question, that noone has the answer to. I don't think it'll go much lower, but what do I know.
The hourly chart here looks decent, also, but I'm unsure how much that matters: https://coinmarketcap.com/all/views/all/
The hourly chart here looks decent, also, but I'm unsure how much that matters: https://coinmarketcap.com/all/views/all/
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Corrik
Member
I don't think it is going to go back up substantially. Lots of bad news has hit crypto lately.
When Buffett says it is a bubble, you all should have listened! We will see though.
Tumle
Member
The race is over for the big coins.. but it can still be profitable to mine smaller alt coins
There is a website called whattomine(I think..) that will calculate your hash rate on different algorithms, and give you a chart of the best coins for you to mine
I Would not do solo mining if you are not going to build a dedicated mining rig, but there are mining pools out there so you can get something out of just using your gaming pc
bigedole
Member
Depending on how you define substantially, I'd place an avatar bet on this
This volatility is nothing new in the crypto space, and history has shown that the floor and ceilings both rise substantially everytime the bubble pops.HagglesworthMD
Member
What bad news are you referring to?
There has been lots of good news; Indian Government implementing blockchain solutions, South Korea saying no plans to ban Crypto, Australian banks saying they have no plans to restrict people buying crypto, US SEC & CTFC hearing saying Crypto should be encouraged and scam ICOs banned.. Lots of good news and the market will 100% soar higher in the coming weeks/months.
Clockwork
Member
The problem was the initial FUD surrounding all of the above.
China, Korea, India, US ban and/or regulation scares. The Tether scare was another big one.
I also don't think that the above all coming out around the same time was an accident. This crash/correction definitely caused some unfortunate losses for folks, but it is also going to make some people (who already have a lot of money) a lot more money (like those that sold before it happened and are there to buy again at fire sale prices).
That might sound conspiracy theorist (think coordinated effort) but I wouldn't doubt it.
The good news is that prices will rise again until the next correction. Rinse/repeat over and over again. As long as you play your cards right you can either avoid getting burned or even take advantage of the situation (and some definitely are).
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HagglesworthMD
Member
RainblowDash
Gold Member
I'm currently mining Feathercoin, just barely making even with my electric bill right now with these dips, hopes it picks back up soon but regardless I plan to HODL for a few more years when all the coins have been discovered.
I think they're mostly designed not to be user friendly so that less people use them and there's less mining reward to share among the pool, haha. At least that's been my impression of things when I've looked into mining operations. I didn't see anything in the GUI realm that was well regarded besides Nicehash. If Zcash rebounds more it may be beneficial to mine that directly vs using Nicehash, and otherwise there are various guides for getting started with Ether mining but everything I saw required some comfort level with command line. Sometimes GUI reliance holds you back in life, though!
I can't vouch for it one way or another, but https://dwarfpool.com seems popular in the community and has several mining options. Try following all the instructions step by step and you won't sweat the lack of a GUI by the end.
Kadayi
Banned
I think they're mostly designed not to be user friendly so that less people use them and there's less mining reward to share among the pool, haha. At least that's been my impression of things when I've looked into mining operations. I didn't see anything in the GUI realm that was well regarded besides Nicehash. If Zcash rebounds more it may be beneficial to mine that directly vs using Nicehash, and otherwise there are various guides for getting started with Ether mining but everything I saw required some comfort level with command line. Sometimes GUI reliance holds you back in life, though!
I can't vouch for it one way or another, but https://dwarfpool.com seems popular in the community and has several mining options. Try following all the instructions step by step and you won't sweat the lack of a GUI by the end.
Yeah, I've done a bit of mining before and it was just fiddly I was hoping it was a bit more user-friendly now is all. I'll check out the link though. I figure I'd like to just mine a variety of early coins and see if any of them pop.
oxrock
Gravity is a myth, the Earth SUCKS!
Especially if you're uncomfortable with the command line, I highly suggest just using nicehash. I'm not aware of other applications that allow you to always be mining the most effective currency. As Evilore said, until the recent series of crashes it was ideal to just mine zcash, but I don't think it's quite the best return rate at the moment. It's close enough to not make much of a difference though generally. Of course it all depends on your rig's hashrates and such.
Kadayi
Banned
I stumbled across MinerGate which allows you to mine a few different currencies. However, I test ran both it and Nicehash to get an idea of profitability. My rig could generate a potential profit through either, but not enough to really justify putting the effort in and running the PC 24/7. Guess I'll stick to purchasing for the foreseeable.
Given the preponderance of GPUs available via the Steam userbase. I'm kind of surprised that no one has thought to leverage that in any fashion. Looking at my steam list, out of 33 online people only 12 are actively playing. That's 21 GPUs that are probably just idling right there. I would have thought someone could come up with a mining app that is available for free download, flexible and easy to use.
Given the preponderance of GPUs available via the Steam userbase. I'm kind of surprised that no one has thought to leverage that in any fashion. Looking at my steam list, out of 33 online people only 12 are actively playing. That's 21 GPUs that are probably just idling right there. I would have thought someone could come up with a mining app that is available for free download, flexible and easy to use.
xStoyax
Banned
Only other one i've seen that was similar to nicehash & easy to setup was Winminer. But I wouldn't recommend it. I made 1/2 of what I was making on Nicehash.
I also played around with miningpoolhub & awesomeminer - nanopool - and several others.
Honestly, I still do better with nicehash than anything else. And now that they've added the ability to move your btc to coinbase for free - - its a awesome setup for me atm.
A few weeks ago i woulda told you to download nicehash legacy, but the latest 2.0 download is just as good imo now. You can download both and play around with them. I'm running a machine that has a 970 in it. 2 1080's and 1 1080ti
oxrock
Gravity is a myth, the Earth SUCKS!
I had an old gtx 460 laying around so I decided to see what kind of mining numbers I could get on it. My 980 ti pulls about 480 sol/sec while the 460 tears it up at an amazing 18 sol/sec!
Totally not worth using it but I already went through the hassle of installing it so whatever.
Edit: This is mining zcash(equihash)
Totally not worth using it but I already went through the hassle of installing it so whatever.
Edit: This is mining zcash(equihash)
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HagglesworthMD
Member
Quite a bit of drama in Nano community re: Bitgrail, what a mess that is. Looks like Bitgrail has been insolvent for a while now and Bomber's been covering it up
ThatStupidLion
Member
Pretty fair and clear writing about Nano and the bitgrail shitshow
https://www.finder.com.au/what-caused-the-170-million-bitgrail-nano-incident
Good time to fill up those coffers...
https://www.finder.com.au/what-caused-the-170-million-bitgrail-nano-incident
Good time to fill up those coffers...
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Typhares
Member
I've just spent the most part of the morning reading about exchanges and I'm still as lost as when I started.
Basically I'd like to invest in Ripple, maybe LTC and I have no idea where to go to do so. Every excahnge site has bad reviews making me warry of putting money there.
I'm in the UK by the way if that's relevant at all.
Any advice?
Basically I'd like to invest in Ripple, maybe LTC and I have no idea where to go to do so. Every excahnge site has bad reviews making me warry of putting money there.
I'm in the UK by the way if that's relevant at all.
Any advice?
If you're looking for bank-link security and assurances, you won't find them in crypto. HOWEVER, by taking the appropriate precautions yourself, you can insulate yourself from shenanigans your government may try to pull on you. Asset seizures for the "greater good," hyperinflation of national fiat currency, etc. The remaining concerns to insulate from are exit scams and fraud from within the crypto space itself, whether bad actor exchanges or hacking central wallets or bad security practices of your personal wallets.
I do not personally vouch for any particular crypto exchange and recommend you do your due diligence to the point where you're comfortable, scale up your involvement sensibly from a small starting point, and only keep crypto on exchanges when you're actively trading them. Otherwise withdraw to an offline or hardware wallet with private keys you control.
Someone in the UK can probably chime in about the most reliable fiat-crypto exchanges on that side of the pond. Once you have some fiat converted to BTC or ETH et al, get it to a private wallet with a private key you control and then you can take it just about anywhere, like Binance or Cryptopia, if you'd like to dabble in the high volatility magic internet money. As always, be careful, be wary of shills and scams, and do as much research as you value the money you're putting into the space. and don't sit crypto idly on exchanges. Move it to a wallet or wallets you control.
Someone can probably chime in with the most reputable UK-servicing exchanges at the moment though. Either way, start small and get comfortable with moving around and trading small amounts first before considering anything dangerous/drastic to your portfolio. The CNBC dumbasses are right about one thing: limit crypto to something like 1-5% of your portfolio unless you really like risk or really know what you're doing. The landscape changes every week and many elements of it are not possible to predict. As always, nothing in this post constitutes financial advise. The crypto market is extremely speculative and volatile and rife with fraud. Do not invest anything you're not willing to lose, and consult with a financial adviser about your investment strategy.
bigedole
Member
Can anyone suggest a good desktop ethereum wallet? Hoping to find one that can handle any ERC20 coin, but specifically OMG and ETH are what I'm looking to store. I really like the ARK wallet, wish there weren't so many options for ethereum, hard to figure out what's good and what isn't
xStoyax
Banned
I've had good luck with Binance, and it's where I've acquired Ripple. But they don't accept fiat so you'll have to find some way to get it over there. I use Coinbase, but I believe its US only
Kadayi
Banned
I'm in the UK and I managed to set up a coinbase account ok
ThatStupidLion
Member
I think people in eu prefer bitstamp to coinbase for fiat deposits. Binance is other suggested exchange for alt-coins etc.
Do you have a hardware wallet? If not, step one is to get a hardware wallet like ledger nano or trezor.
As for exchanges, you can buy xrp/eth/btc/Ltc with euros from kraken I think. No exchange is safe. As soon as you get your coins, transfer it to a hardware wallet. Ledger supports all the above coins, but some coins/tokens don’t have wallets yet.
If you can’t afford a hardware wallet, consider staying out of crypto (if you don’t have money to buy a hardware wallet, you don’t have the money to gamble in crypto).
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NiiloPielinen
Member
Isn't Coinbase the one that is most legit in having various US permits and co-operating with authorities? It even has insurance in case of being hacked:
https://support.coinbase.com/customer/portal/articles/1662379-how-is-coinbase-insured-
https://support.coinbase.com/customer/portal/articles/1662379-how-is-coinbase-insured-
Blam
Member
Yes Coinbase is a legit place compared to most places.
take_it_easy
Banned
Not a fan, good chance they partook in insider trading with their decision to list bitcoin cash(bcash) on their exchange. Poor judgement either way.
CaptainABAB
Member
Just came across this article:
https://www.theverge.com/2018/2/15/...tocurrency-bitcoin-ether-unauthorized-charges
https://www.theverge.com/2018/2/15/...tocurrency-bitcoin-ether-unauthorized-charges
Typhares
Member
Well I ended doing just that so thanks, got some ETH from coinbase (it's available in the UK) and sent them to binance to get some XRP.
I mean I just invested a few hundred pounds mostly for fun and I don't think I'll put any more as I still feel confused by the whole thing.