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The Ethereum (ETH) thread
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ScrapperTL Offline
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Post: #126
RE: The Ethereum Thread (the alt coin to Bitcoin)
Broseph's I have been making hot gains off of ReddCoin (RDD)
Shit is a little volatile but its been spiking upward a lot.
Supposedly some big Social Media sites are going to implement it soon.
The premise behind it, is that users can "Tip" creators of quality content.
They are marketing themselves as the premier social media cryptocurrency.
Whether this actually pans out is yet to be seen.
Also I'm in for XRP now, so far it is down a bit but nothing alarming.
(This post was last modified: 05-19-2017 09:22 AM by ScrapperTL.)
05-19-2017 09:21 AM
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Genghis Khan Offline
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Post: #127
RE: The Ethereum Thread (the alt coin to Bitcoin)
(05-19-2017 08:02 AM)Oz. Wrote:  
(05-19-2017 06:47 AM)Genghis Khan Wrote:  How much free time do you have to learn and trade? You can pick up the terms pretty quickly, but I imagine it takes up a lot of time to learn how to trade. My personal philosophy is to hold my ETH and not trade it. Let the price rise naturally (incidentally it's up from ~$90 two days ago to $112 right now).

I can probably dedicate a few hours to this every other day or so. I actually saw the price of ETH rising and sold the one I had, made about 15$ out of it but probably should've kept it for longer.

Look up Chris Dunn on Youtube. I like him a lot. He seems to be quite knowledgeable about trading and has a (paid) course to teach you how to make good money by trading cryptocurrencies. I can't comment on the quality of the course, but I'll say he comes across as a legitimate dude.

If you're really serious about this, I would also start checking subreddits, e.g. reddit.com/r/ethtrader. Those subreddits are great aggregators of news. Learn as much as you can. It's especially fascinating to read people's personal accounts on how they lost money.

As I've expounded a few times in this thread, I'm very conservative financially - my strategy is to just hold ETH and let it rise. Trading to me comes across as a highly risky activity, while a very likely chance of losing a lot of money. That said, whatever approach you choose, I wish you all the best! Good luck man.

Not happening. - redbeard in regards to ETH flippening BTC
05-19-2017 12:20 PM
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Genghis Khan Offline
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Post: #128
RE: The Ethereum Thread (the alt coin to Bitcoin)
(05-19-2017 09:21 AM)ScrapperTL Wrote:  Broseph's I have been making hot gains off of ReddCoin (RDD)
Shit is a little volatile but its been spiking upward a lot.
Supposedly some big Social Media sites are going to implement it soon.
The premise behind it, is that users can "Tip" creators of quality content.
They are marketing themselves as the premier social media cryptocurrency.
Whether this actually pans out is yet to be seen.
Also I'm in for XRP now, so far it is down a bit but nothing alarming.

I am fascinated by XRP. I'm hearing a lot about how it's a pump&dump, considering you don't need the XRP coin to use to Ripple network.

As for ReddCoin - seems like a prime example of people throwing money at blockchain applications without thinking stuff through. Not saying you're in that category, ScrapperTL, but here are some questions I would have for a tipping coin for major social networks:

1. why haven't FB, Twitter, etc already implemented a tipping protocol? This doesn't seem like something that absolutely requires a cryptocurrency. Couldn't a user connect their credit card to Facebook and tip other users?

My guess would be the major social networks have already realized this fact: people don't want to pay if they can get content for free.

2. This isn't to say people don't want to contribute financially to their favorite content creators, but other platforms already exist: for example Patreon, which is used by Dave Rubin and Jordan B. Peterson. What advantage does this new platform (ReddCoin) really offer over Patreon or other payment platforms that may already exist? If the USP is that it integrates seamlessly into your social network accounts, see question 1 - how are you going to get people who already don't pay for content on FB or Twitter to start paying?

Not happening. - redbeard in regards to ETH flippening BTC
05-19-2017 12:29 PM
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ScrapperTL Offline
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Post: #129
RE: The Ethereum Thread (the alt coin to Bitcoin)
(05-19-2017 12:29 PM)Genghis Khan Wrote:  
(05-19-2017 09:21 AM)ScrapperTL Wrote:  Broseph's I have been making hot gains off of ReddCoin (RDD)
Shit is a little volatile but its been spiking upward a lot.
Supposedly some big Social Media sites are going to implement it soon.
The premise behind it, is that users can "Tip" creators of quality content.
They are marketing themselves as the premier social media cryptocurrency.
Whether this actually pans out is yet to be seen.
Also I'm in for XRP now, so far it is down a bit but nothing alarming.

I am fascinated by XRP. I'm hearing a lot about how it's a pump&dump, considering you don't need the XRP coin to use to Ripple network.

As for ReddCoin - seems like a prime example of people throwing money at blockchain applications without thinking stuff through. Not saying you're in that category, ScrapperTL, but here are some questions I would have for a tipping coin for major social networks:

1. why haven't FB, Twitter, etc already implemented a tipping protocol? This doesn't seem like something that absolutely requires a cryptocurrency. Couldn't a user connect their credit card to Facebook and tip other users?

My guess would be the major social networks have already realized this fact: people don't want to pay if they can get content for free.

2. This isn't to say people don't want to contribute financially to their favorite content creators, but other platforms already exist: for example Patreon, which is used by Dave Rubin and Jordan B. Peterson. What advantage does this new platform (ReddCoin) really offer over Patreon or other payment platforms that may already exist? If the USP is that it integrates seamlessly into your social network accounts, see question 1 - how are you going to get people who already don't pay for content on FB or Twitter to start paying?

Ghengis, you are actually 100% correct with your analysis.
I did not put much mental effort into ReddCoin at all.
Got a hot tip and ran with it, so far it paid off.
Also, when I bought in you could get 12,000 coins for something like $2.00, pretty damn cheap.

It is a serious longshot, but if it blows up to even $0.50 coin, I'll be grinning from ear to ear for a year.
05-19-2017 12:53 PM
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Armogan Offline
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Post: #130
RE: The Ethereum Thread (the alt coin to Bitcoin)
Eth pump came as expected. Next 24 hours going to be day of reckoning, up 20% or down 40% type shit. Inclined to think up. Grandma's buying ETH now.

I've been very distracted because I've been riding the STR rocket ship for the past 2 weeks. I can't put my finger on it yet, little scammy, little shady, big upside. Makes ETH and BTC volitaility look like child's play.

On suicide watch 1 minute, fkn Ivanka Trump 10 minute later type stuff. Not for weak hands.
(This post was last modified: 05-19-2017 01:06 PM by Armogan.)
05-19-2017 01:02 PM
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MidJack Offline
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Post: #131
RE: The Ethereum Thread (the alt coin to Bitcoin)
People are piling into ETH mining now. Network rate has gone from 19,000 GH/s to 28,000 GH/s in less than a month, and it's accelerating.

I'm glad I got started when I did. Starting today, it could be difficult to break even.
05-19-2017 02:24 PM
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Armogan Offline
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Post: #132
RE: The Ethereum Thread (the alt coin to Bitcoin)
There's the Koppelman Constant, roughly in the .067 eth/btc, when Ether mining is more profitable than BTC. We are almost there. Insane manipulation to stay below this level. The chinese want their cake AND noodles.
05-19-2017 05:04 PM
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Genghis Khan Offline
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Post: #133
RE: The Ethereum Thread (the alt coin to Bitcoin)
(05-19-2017 05:04 PM)Armogan Wrote:  There's the Koppelman Constant, roughly in the .067 eth/btc, when Ether mining is more profitable than BTC. We are almost there. Insane manipulation to stay below this level. The chinese want their cake AND noodles.

I never understood why people cared about the profitability of ETH mining. Sure, in the short-term it matters, but when (and if!) Ethereum switches to a Proof-of-Stake algorithm, will it matter anymore? Genuinely wondering here. Not to mention, Vlad Zamfir, the de-facto second in command, has argued heavily in favor of already reducing mining rewards.

Not happening. - redbeard in regards to ETH flippening BTC
05-19-2017 06:14 PM
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MidJack Offline
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Post: #134
RE: The Ethereum Thread (the alt coin to Bitcoin)
This is from a PM to another member. Will put it here for anyone else's benefit.

Quote:Mining is still profitable depending on your cost of electricity. You can go to http://www.cryptocompare.com and use their Ethereum mining calculator for some numbers. The calculator automatically takes into account the current network hash rate and ETH/USD price.

For solar-powered mining, I would suggest researching the projects some people have done with solar/ and bitcoin. Adding solar panels can send the breakeven time out to decades instead of months. My personal recommendation to someone who plans on building a mining farm is to go to central Washington where electricity is from hydro and costs $0.02-0.03 per kW-hr for commercial rates.
05-19-2017 08:14 PM
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MidJack Offline
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Post: #135
RE: The Ethereum Thread (the alt coin to Bitcoin)
(05-19-2017 06:14 PM)Genghis Khan Wrote:  
(05-19-2017 05:04 PM)Armogan Wrote:  There's the Koppelman Constant, roughly in the .067 eth/btc, when Ether mining is more profitable than BTC. We are almost there. Insane manipulation to stay below this level. The chinese want their cake AND noodles.

I never understood why people cared about the profitability of ETH mining. Sure, in the short-term it matters, but when (and if!) Ethereum switches to a Proof-of-Stake algorithm, will it matter anymore? Genuinely wondering here. Not to mention, Vlad Zamfir, the de-facto second in command, has argued heavily in favor of already reducing mining rewards.

PoS should look something like the second-tier DASH nodes where it behaves like a dividend-paying investment. PoW assets will no longer be valuable for mining ETH but could be repurposed for another currency or liquidated since it is general purpose computing hardware.
05-19-2017 08:19 PM
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PharaohRa Offline
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Post: #136
RE: The Ethereum Thread (the alt coin to Bitcoin)
I see that ETH has paid off handsomely for the faithful, especially knowing that the usual suspects of tech and finance are supporting it 100%. Btw, my mining rig approach (4 now) is paying off. Still, 128 USD per ETH in a matter of less than a month means that we are at the beginning of a bubble that will last months, if not years.

Good fortune to all.
05-19-2017 11:51 PM
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booshala Offline
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Post: #137
RE: The Ethereum Thread (the alt coin to Bitcoin)
(05-19-2017 11:51 PM)PharaohRa Wrote:  I see that ETH has paid off handsomely for the faithful, especially knowing that the usual suspects of tech and finance are supporting it 100%. Btw, my mining rig approach (4 now) is paying off. Still, 128 USD per ETH in a matter of less than a month means that we are at the beginning of a bubble that will last months, if not years.

Good fortune to all.

I'm curious, what makes you think the $128 price will keep the bubble going? I don't really do any charting or technical analysis, just try and get informed on events in the sphere and invest accordingly so I'm always interested in hearing the thought process on how people come to these conclusions.
05-20-2017 12:38 AM
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Hyperflux Offline
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Post: #138
RE: The Ethereum Thread (the alt coin to Bitcoin)
To the moon!
05-20-2017 03:27 AM
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samsamsam Offline
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Post: #139
RE: The Ethereum Thread (the alt coin to Bitcoin)
[Image: vwkxuz98ljyy.png]

https://www.reddit.com/r/CryptoMarkets/c...months_or/

Found this on reddit - how much 10k would be worth after a year.

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05-20-2017 06:33 AM
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Post: #140
RE: The Ethereum Thread (the alt coin to Bitcoin)
Will it be a dip anytime soon ?


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05-20-2017 10:27 AM
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SunW Offline
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Post: #141
RE: The Ethereum Thread (the alt coin to Bitcoin)
If you want some laughs, go read the stock market thread. People boasting about a 20% return.

Laugh5

For us, 1000% is disappointing.
05-20-2017 10:42 AM
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Armogan Offline
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Post: #142
RE: The Ethereum Thread (the alt coin to Bitcoin)
That 10k profit table is pretty mind-blowing. I know all of them except Peepee cash, wtf is that?
05-20-2017 11:54 AM
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Genghis Khan Offline
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Post: #143
RE: The Ethereum Thread (the alt coin to Bitcoin)
(05-20-2017 06:33 AM)samsamsam Wrote:  [Image: vwkxuz98ljyy.png]

https://www.reddit.com/r/CryptoMarkets/c...months_or/

Found this on reddit - how much 10k would be worth after a year.




(05-20-2017 10:42 AM)SunW Wrote:  If you want some laughs, go read the stock market thread. People boasting about a 20% return.

Laugh5

For us, 1000% is disappointing.

20/20 Hindsight bias for both these posts.

It's easy to look back and see the skyrocketing value of PIVX and PepeCash. It's much harder to put it in perspective: there are currently about 250 coins with a market value of $1mil. There are about 400 coins with a large enough trading volume to be listed on coinmarketcap as such. Only 3 coins would've turned your $10K investment into $1million in 6 months. To pick one of the 3 coins that skyrocketed like that out of 400 would have required extraordinarily levels of luck.

As for 20% return - I don't laught at that, and once this cryptocurrency bullrun slows down, I'll be more than happy to get 20% year to year. Crypto was and still is a highly risky investment. I'm on the younger side so I have the time to lose a lot of money and still bounce back.

I'm being reminded of Nassim Nicholas Taleb's books - Fooled by Randomness, The Black Swan, and Antifragile. The idea that is implied by that reddit image of investing in Pepecoin would've made you a millionaire is to be fooled by randomness. In the latter two books, NNT talks about using a barbell approach. As an example, you could invest 90% in hyper-conservative investment vehicles and 10% in hyper-aggressive investment opportunities. I can't speak for all, but I imagine quite a few of us are leveraged the other way around, with 90% in something as hyper-aggressive as cryptocurrencies.

EDIT: not trying to hate, just attempting to put things into perspective. I know we're all super happy with how the entire cryptocurrency/blockchain market is exploding in value, but it's useful to remember it could've all gone the other way.

Not happening. - redbeard in regards to ETH flippening BTC
(This post was last modified: 05-20-2017 12:41 PM by Genghis Khan.)
05-20-2017 12:13 PM
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RE: The Ethereum Thread (the alt coin to Bitcoin)
Wow what a wet blanket.

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05-20-2017 12:54 PM
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Satoshi Offline
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Post: #145
RE: The Ethereum Thread (the alt coin to Bitcoin)
Thanks for that chart. Bitcoin is obviously under performing. Something that I've said a few times in another thread and something that I've predicted for years.
05-20-2017 02:08 PM
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samsamsam Offline
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Post: #146
RE: The Ethereum Thread (the alt coin to Bitcoin)
Any of you guys mining? Or just buying? Just wondering if it is cost effective to mine for coins.

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05-20-2017 03:04 PM
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Post: #147
RE: The Ethereum Thread (the alt coin to Bitcoin)
(05-20-2017 12:13 PM)Genghis Khan Wrote:  
(05-20-2017 06:33 AM)samsamsam Wrote:  [edited out]

20/20 Hindsight bias for both these posts.

It's easy to look back and see the skyrocketing value of PIVX and PepeCash. It's much harder to put it in perspective: there are currently about 250 coins with a market value of $1mil. There are about 400 coins with a large enough trading volume to be listed on coinmarketcap as such. Only 3 coins would've turned your $10K investment into $1million in 6 months. To pick one of the 3 coins that skyrocketed like that out of 400 would have required extraordinarily levels of luck.

As for 20% return - I don't laught at that, and once this cryptocurrency bullrun slows down, I'll be more than happy to get 20% year to year. Crypto was and still is a highly risky investment. I'm on the younger side so I have the time to lose a lot of money and still bounce back.

I'm being reminded of Nassim Nicholas Taleb's books - Fooled by Randomness, The Black Swan, and Antifragile. The idea that is implied by that reddit image of investing in Pepecoin would've made you a millionaire is to be fooled by randomness. In the latter two books, NNT talks about using a barbell approach. As an example, you could invest 90% in hyper-conservative investment vehicles and 10% in hyper-aggressive investment opportunities. I can't speak for all, but I imagine quite a few of us are leveraged the other way around, with 90% in something as hyper-aggressive as cryptocurrencies.

EDIT: not trying to hate, just attempting to put things into perspective. I know we're all super happy with how the entire cryptocurrency/blockchain market is exploding in value, but it's useful to remember it could've all gone the other way.


Guys should not consider your post as hating - even if you are asserting that there is quite a bit of luck involved in picking the right crypto to make a filthy fortune - and even though there may be skills involved too, when identifying a trend and gaining some profits from an identified trend.

Sure, some guys may be able to time their gambling or even to apportion their gambling in such a way that they do not keep on doubling down - like the Martingale method (which in the long run is a losing method), and so your suggestion of 90/10 seems good - and even if guys do 50/50, that would be an improvement in the event that some guys may be attempting to employ some variation of a 10/90 method.. which seems a bit much of a gamble.

In 2013, when I first got into bitcoin, I used my about 15 years investment into various stock/bonds etc index funds as a guideline for what I would like to get as returns - although I considered bitcoin as much more risky than traditional index funds - and I saw that I had made mistakes in my index investments and I had gotten lucky a few times, but overall my annualized returns on index funds were only about 5.5%, so I considered anything better than that over several years would be an improvement -

but that was not the only reason that I got into bitcoin.. my other reason was to hedge my bets because I recognized bitcoin as potentially performing in ways that might be contrary (not directly correlated) to the dollar, and I had so many investments that were related to dollar investments (not only the stock index investment but others, including my income stream) and I felt that I needed to hedge and attempt to achieve at least 10% hedging in something that I thought was not directly correlated with the dollar (and I did that with bitcoin - and because I was investing on a recently spiked price, it took me about a year to get up to about 10% allocation into bitcoin).

I have made some mistakes in bitcoin too, yet appreciation in bitcoin prices has caused my bitcoin investment to currently be in around the 30% territory as compared with my dollar related investments, which may seem a bit higher than my 10% goal, but I don't really feel that I am overinvested because a large amount of the appreciation in the proportion has come from appreciation in the bitcoin price rather than me pumping money into bitcoin by diverting my dollar-related investments into bitcoin.

Whether investing in bitcoin or other cryptos, there can be some utility in assessing how much of your funds you want to place in the riskier of the investments - and yeah there are so many of them to chose from, but that does not necessarily justify blindly throwing a bunch of money at it and spreading that over a bunch of coins based on past performance only...
(This post was last modified: 05-20-2017 03:31 PM by JayJuanGee.)
05-20-2017 03:24 PM
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Post: #148
RE: The Ethereum Thread (the alt coin to Bitcoin)
(05-20-2017 03:04 PM)samsamsam Wrote:  Any of you guys mining? Or just buying? Just wondering if it is cost effective to mine for coins.

Probably more cost effective to invest directly in currency. However...

I prefer having my investments in cryptocurrency to be hedged with commodity assets, so I mine with GPUs.
05-20-2017 04:35 PM
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Post: #149
RE: The Ethereum Thread (the alt coin to Bitcoin)
Agree with Genghis Khan. It's easy to backfill "Ah, I should've bought in to this/that shitcoin" as much as "ah, I knew I should've picked those numbers for the lottery". Nobody knew that shit was going to blow up like that, not even the creators. I've still got a minor position in ETH as well as relatively small lots in XRP, DTB and MAID that have all appreciated a lot, but are there more for an outlier event if they reach some sort of massive adoption rate or in the case of DTB if Augmentors becomes as popular as Pokémon Go was a few months ago.

Considering that crypto was a little more than 1% of my net worth (now close to 5% after the appreciation) I'm trying to not let the crazy upswings affect how I view my stock portfolio which is vastly bigger. I have to constantly remind myself that for me crypto is essentially gambling while stock appreciation + dividend growth is the slow and steady method. Sometimes I go to the craps table and I'm up 500% in a few hours... that doesn't mean I should allocate my entire life savings to my gaming bankroll.
(This post was last modified: 05-20-2017 06:41 PM by booshala.)
05-20-2017 06:39 PM
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RE: The Ethereum Thread (the alt coin to Bitcoin)
Quote:I'm curious, what makes you think the $128 price will keep the bubble going? I don't really do any charting or technical analysis, just try and get informed on events in the sphere and invest accordingly so I'm always interested in hearing the thought process on how people come to these conclusions.

Excellent question Booshala. The reason why Ethereum will keep on climbing is due to the increased recognition of ETH by the mainstream community (and my ascertain that cryptocurrency is in the beginning of a bubble). The big boys want Ethereum to be the defacto cryptocurrency since they have more control over it than say bitcoin and the other coins. In a bubble buildup, technical analysis should be thrown out the window until the market has somewhat stabilized since emotion comes into play, and emotion is very fickle.
05-20-2017 07:57 PM
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