So basically this looks like a really high gas fee. I knew about gas fees for ETH, but I wasn't expecting it to be like 20%. 

Recommendations appear to be buying on weekends, late saturday/early sunday, and staking big amounts. Probably shouldn't have just thrown a few hundred at it, but I guess this is the cost of a trial run. 

4 minutes ago, JohnSnowsHair said:

So basically this looks like a really high gas fee. I knew about gas fees for ETH, but I wasn't expecting it to be like 20%. 

Recommendations appear to be buying on weekends, late saturday/early sunday, and staking big amounts. Probably shouldn't have just thrown a few hundred at it, but I guess this is the cost of a trial run. 

20% for ETH can't be right. I sent some last year and it was like 4%, tops.

11 minutes ago, we_gotta_believe said:

20% for ETH can't be right. I sent some last year and it was like 4%, tops.

From what I'm reading gas fees range from $10-40. Usually closer to $40. If you transferred $1k then it would be less than 4%. I was just throwing a few hundred to play around, fee is the same tho.

6 minutes ago, JohnSnowsHair said:

From what I'm reading gas fees range from $10-40. Usually closer to $40. If you transferred $1k then it would be less than 4%. I was just throwing a few hundred to play around, fee is the same tho.

There's some detail on a recent change and a chart here that might shed some light. And yeah it seems the fees have skyrocketed lately. Geez.

https://www.cnbc.com/2021/08/05/ethereum-just-activated-its-london-hard-fork-and-its-a-big-deal.html

 

Says my Etherum is available to send in 11 days, funds were linked to my bank account. Is this a normal wait time ?

44 minutes ago, greenskeeper said:

Says my Etherum is available to send in 11 days, funds were linked to my bank account. Is this a normal wait time ?

Is your Coinbase account new? They tend to put some restrictions on newer accounts for whatever reason and then after time remove them. Other centralized exchanges such as Gemini or Blockfi might not have that issue, I'm not sure 

The Ethereum gas fees are high and unpredictable. I had family and friends buy HEX a couple months ago and some I managed to get with a few dollars in gas fees, and others who waited the best they could do was like $30+

The creator of HEX is making another crypto called PulseChain that is a fork of Ethereum to resolve this issue. It will have a higher throughput which will make the gas fees on it much less

If I had to bet on one crypto that could do 100x in the next two years, that's the one

Also, for those of you buying HEX, when PulseChain forks and you own some already, you'll also have the same amount of HEX on the PulseChain network as well

I might have explained this already but I think I've told about 50 different people this so I'm losing track 

Almost all of them put holds on new accounts. It's the only way to combat fraud or laundering. Coinbase is the most anal about it.

1 hour ago, JohnSnowsHair said:

From what I'm reading gas fees range from $10-40. Usually closer to $40. If you transferred $1k then it would be less than 4%. I was just throwing a few hundred to play around, fee is the same tho.

The gas fees are one of the reasons why ETH is moving from proof of work to proof of stake. It is simply uneconomical for micro transactions with proof of work.

 

 

2 minutes ago, DaEagles4Life said:

 

 

Hope someone tells Bitcoin that soon. 

13 hours ago, we_gotta_believe said:

There's some detail on a recent change and a chart here that might shed some light. And yeah it seems the fees have skyrocketed lately. Geez.

https://www.cnbc.com/2021/08/05/ethereum-just-activated-its-london-hard-fork-and-its-a-big-deal.html

 

 

12 hours ago, TEW said:

The gas fees are one of the reasons why ETH is moving from proof of work to proof of stake. It is simply uneconomical for micro transactions with proof of work.

are these contributing factors to ETH being down like 20% this week? or is this just normal volatility? 

2 minutes ago, JohnSnowsHair said:

 

are these contributing factors to ETH being down like 20% this week? or is this just normal volatility? 

Crypto volatility is only normal in the way that it is hardly ever predictable, if that makes sense.

1 minute ago, we_gotta_believe said:

Crypto volatility is only normal in the way that it is hardly ever predictable, if that makes sense.

if this was a normal stock or fund I "believed in" I'd view this as a buy the dip situation. I don't know that I have enough faith in crypto to see it this way. 

23 minutes ago, JohnSnowsHair said:

if this was a normal stock or fund I "believed in" I'd view this as a buy the dip situation. I don't know that I have enough faith in crypto to see it this way. 

The "dip" in cryptomarkets is more like a cliff in typical markets. You'd be hard pressed to find a stock or fund that has crashed and surged the way BTC and ETH have. They are more analogous to commodities but even then, not with this level of volatility. So I always caution anyone to limit their investments to 1% or less because of this. And never, ever should they think it's a good move to short a cryptocurrency. But the technology itself? Believe in it more than you believe in the sun rising. There is no future on this planet where blockchain fueled cryptocurrency transactions don't have a place. Any "experts" that claim otherwise are hilariously misinformed. That includes, Buffett, Icahn, Bogle, etc. Even Bill Gates was once skeptical about the advent and later commercialization of the internet. 

But still, the prices are purely speculative, so you are basically throwing darts at a board with a blindfold on, but the board is always growing and shrinking while the dart is in flight. All you can hope is to hit pay dirt even if your aim is poor. The reasons for growth tend to outnumber the reasons for shrinking, so toss your dart if you have an appetite for risk. That being said, I myself have cashed out almost all of my positions since the pandemic began. Felt like there were better options elsewhere at the time and still do. At some point though, I'll probably start to buy back in.

50 minutes ago, Kz! said:

Hope someone tells Bitcoin that soon. 

What are you talking about? September has always been a red month whole Q4 is predictably a heavy green. 

10 minutes ago, we_gotta_believe said:

 

But still, the prices are purely speculative, so you are basically throwing darts at a board with a blindfold on, but the board is always growing and shrinking while the dart is in flight. All you can hope is to hit pay dirt even if your aim is poor. The reasons for growth tend to outnumber the reasons for shrinking, so toss your dart if you have an appetite for risk. That being said, I myself have cashed out almost all of my positions since the pandemic began. Felt like there were better options elsewhere at the time and still do. At some point though, I'll probably start to buy back in.

I will disagree that it is throwing darts with a blindfold on. BTC and alt coins become pretty easy to predict outside of this FUD or other major events happening. Once you figure out how to graph these charts and can figure out higher lows and lower lows the guess work is taken out of it.  You can also use BTC dominance in the market to see when alts will run vs btc. 

Figure out how to graph a chart, know which are the good coins this cycle, and make money. 

To me its BTC, ETH, AVAX, SOL, LUNA, ATOM, and a few others to buy this cycle. 

11 minutes ago, DaEagles4Life said:

I will disagree that it is throwing darts with a blindfold on. BTC and alt coins become pretty easy to predict outside of this FUD or other major events happening. Once you figure out how to graph these charts and can figure out higher lows and lower lows the guess work is taken out of it.  You can also use BTC dominance in the market to see when alts will run vs btc. 

Figure out how to graph a chart, know which are the good coins this cycle, and make money. 

To me its BTC, ETH, AVAX, SOL, LUNA, ATOM, and a few others to buy this cycle. 

If you say so.

1 hour ago, JohnSnowsHair said:

 

are these contributing factors to ETH being down like 20% this week? or is this just normal volatility? 

The overnight drop is regulatory fear out of China.

But yes, the volatility is "normal.”

1 hour ago, JohnSnowsHair said:

if this was a normal stock or fund I "believed in" I'd view this as a buy the dip situation. I don't know that I have enough faith in crypto to see it this way. 

If you’re a true "believer” in BTC and crypto in general, you’re thinking $100K or more for BTC this cycle. So your risk/reward in the short term is basically 40/60+.

2 minutes ago, TEW said:

If you’re a true "believer” in BTC and crypto in general, you’re thinking $100K or more for BTC this cycle. So your risk/reward in the short term is basically 40/60+.

I think 100k is on the lower end. ETF might get approved in Nov, Twitter is allowing tipping via Strike, retail money sees 100k and thinking it will hit 1 million this cycle, and just Q4 have notoriously been great for crypto after a red Sept. 

 

A scenario where it hits $100k by end of the year is far more likely than one where it hits $1k, but at the same time, the scenarios where it drops to $30k may outnumber the ones where it hits $60k. 

1 minute ago, TEW said:

If you’re a true "believer” in BTC and crypto in general, you’re thinking $100K or more for BTC this cycle. So your risk/reward in the short term is basically 40/60+.

cryptocurrency's main attraction is that it's a limited currency; it seems quite a bit to me like gold. If I had to guess, it's in the early volatile stages where the market is trying to figure out its price, but when it does it will behave financially similar to how gold does vs traditional fiat currencies ... something of a safe haven when other markets are volatile and dooming, while funds flow out when traditional investment vehicles look to be better bets. 

I think there's a rough road yet to travel to get there. And I get the attraction especially if you're a skeptic of the Fed and other central authorities ... cryptocurrency democratizes the marketplace outside of central authorities like nothing in recent history.

I say that as someone who is very much a layman on financial markets. I have only just waded in, and my exposure is minimal .. it's mainly an academic exercise for me to educate myself. it's all entirely speculative at this point. 

4 minutes ago, we_gotta_believe said:

A scenario where it hits $100k by end of the year is far more likely than one where it hits $1k, but at the same time, the scenarios where it drops to $30k may outnumber the ones where it hits $60k. 

I'm curious where BTC, which seems a little less volatile, fits in vs other cryptos. 

Just now, JohnSnowsHair said:

cryptocurrency's main attraction is that it's a limited currency; it seems quite a bit to me like gold. If I had to guess, it's in the early volatile stages where the market is trying to figure out its price, but when it does it will behave financially similar to how gold does vs traditional fiat currencies ... something of a safe haven when other markets are volatile and dooming, while funds flow out when traditional investment vehicles look to be better bets. 

I think there's a rough road yet to travel to get there. And I get the attraction especially if you're a skeptic of the Fed and other central authorities ... cryptocurrency democratizes the marketplace outside of central authorities like nothing in recent history.

I say that as someone who is very much a layman on financial markets. I have only just waded in, and my exposure is minimal .. it's mainly an academic exercise for me to educate myself. it's all entirely speculative at this point. 

The original name for Bitcoin's precursor was BitGold, fyi.

6 minutes ago, JohnSnowsHair said:

 

I'm curious where BTC, which seems a little less volatile, fits in vs other cryptos. 

BTC will always be king to me, even though I think other ecosystems maybe better plays long term for decentralized Finance aka DOT/KSM or others are better positioned for the run with NFTs with digital art and into gaming such as SOL or AVAX. 

But is a reason banks and people like Michael Saylor are buying it now on the cheap with the limited 21 million coin supply. I personally will load up after this dump and hold for a few cycles. 

14 hours ago, TEW said:

The gas fees are one of the reasons why ETH is moving from proof of work to proof of stake. It is simply uneconomical for micro transactions with proof of work.

 

That accurate?