I sold my digi last wk
Official BGOL Crypto Currency Thread ★★★★★
- Thread starter Matt Beesy
- Start date
Depends on the marketing campaign. Thats the most important element to me. The coin itself looks to be better than Bitcoin, as long a they don't share the same transaction fees.
Only made a g after the 6 am sell off. I could have at least walked away with 2 and half if I'd jammed last night. Feel like I got taken
I'm going to try to ride verge to a decent return but I'm giving up on the "next great XRP" thought process
I guess mobile go aint out yet
Cumberland Mining offers to convert bitcoin held by Mt. Gox to cash
Thursday 8th of June 2017
crypto miners, a business of large proprietary trading firm DRW announced today an offer to convert all of the 202k BTC held in the Mt. Gox bankruptcy process to USD or JPY.
The cryptocurrency miner re-affirmed its track record of providing liquidity for large bitcoin trades, including several government auctions. Cumberland is one of the world’s largest OTC bitcoin trading desks and is in a unique position to help.
The infamous Japanese bitcoin exchange Mt. Gox recently become solvent due to the appreciation in bitcoin prices. The latest report from the bankruptcy trustee back in March revealed that most claims are still unpaid as of today. The balance of BTC managed by the Mt. Gox estate as of March 5, 2017, stood at 202,185.36428254 BTC. Coins from Mt. Gox were to be moved to a wallet address managed by bankruptcy attorney Mr. Nobuaki Kobayashi.
Mike Komaransky of Cumberland Mining stated in a Twitter message to Mt. Gox confirming this saying, “Now that you’re solvent again, can help convert your 202k bitcoin to fiat.”
The latest notice from Mr. Kobayashi came in late May:
To all creditors,
On May 25, 2016, the date of the investigation of claims, I made determination as to accept or reject the claims filed by the Users of Exchange.
I uploaded the results of the acceptance or rejection to the following Online Method System. The creditors who filed claims through Online Method System can browse the statement of acceptance or rejection which sets forth the contents of filings and the details of acceptances or rejections therefore, with respect to all the claims filed by the Users of Exchange, by logging into the System and clicking the link to the PDF file of the “List of Acceptance or Rejection of the Claims” (however, they will be partially masked). Please look for your creditor’s number (the number assigned to you when you filed your claims) and your name, and confirm the results of the acceptance or rejection of your filed claims.
If all or a part of the amounts that you filed were rejected, the reason for such rejection is that such amount does not exist.
The creditors whose filed claim was rejected may take the claim assessment process within one month from the date of investigation of claims pursuant to the Japanese Bankruptcy Law.
For those creditors who filed by Offline Method, I plan to inform the results of the acceptance or rejection of the claims by sending emails.
Bankrupt Entity: MtGox Co., Ltd.
Bankruptcy Trustee: Nobuaki Kobayashi, Attorney-at-law
Collapse of Mt. Gox
Mt. Gox halted withdrawals on February 7th, 2014 due to insolvency after an allegedly undetected theft that had been occurring since 2011. The company said it was pausing withdrawal requests “to obtain a clear technical view of the currency processes”. Mt. Gox would also suspend trading on February 24th. Bitcoins amounting to a half billion US dollars at the time of the event had been missing, making it the largest-ever bitcoin loss by USD value.
After the shock, it was thought Mt. Gox no longer held any bitcoins. In March 2014 however following the application for commencement of a civil rehabilitation proceeding, wallets were rescanned and their balance researched. On March 7, 2014, Mt. Gox then confirmed that an oldformat wallet which was used prior to June 2011 held a balance of approximately 200,000 BTC.
Thursday 8th of June 2017
crypto miners, a business of large proprietary trading firm DRW announced today an offer to convert all of the 202k BTC held in the Mt. Gox bankruptcy process to USD or JPY.
The cryptocurrency miner re-affirmed its track record of providing liquidity for large bitcoin trades, including several government auctions. Cumberland is one of the world’s largest OTC bitcoin trading desks and is in a unique position to help.
The infamous Japanese bitcoin exchange Mt. Gox recently become solvent due to the appreciation in bitcoin prices. The latest report from the bankruptcy trustee back in March revealed that most claims are still unpaid as of today. The balance of BTC managed by the Mt. Gox estate as of March 5, 2017, stood at 202,185.36428254 BTC. Coins from Mt. Gox were to be moved to a wallet address managed by bankruptcy attorney Mr. Nobuaki Kobayashi.
Mike Komaransky of Cumberland Mining stated in a Twitter message to Mt. Gox confirming this saying, “Now that you’re solvent again, can help convert your 202k bitcoin to fiat.”
The latest notice from Mr. Kobayashi came in late May:
To all creditors,
On May 25, 2016, the date of the investigation of claims, I made determination as to accept or reject the claims filed by the Users of Exchange.
I uploaded the results of the acceptance or rejection to the following Online Method System. The creditors who filed claims through Online Method System can browse the statement of acceptance or rejection which sets forth the contents of filings and the details of acceptances or rejections therefore, with respect to all the claims filed by the Users of Exchange, by logging into the System and clicking the link to the PDF file of the “List of Acceptance or Rejection of the Claims” (however, they will be partially masked). Please look for your creditor’s number (the number assigned to you when you filed your claims) and your name, and confirm the results of the acceptance or rejection of your filed claims.
If all or a part of the amounts that you filed were rejected, the reason for such rejection is that such amount does not exist.
The creditors whose filed claim was rejected may take the claim assessment process within one month from the date of investigation of claims pursuant to the Japanese Bankruptcy Law.
For those creditors who filed by Offline Method, I plan to inform the results of the acceptance or rejection of the claims by sending emails.
Bankrupt Entity: MtGox Co., Ltd.
Bankruptcy Trustee: Nobuaki Kobayashi, Attorney-at-law
Collapse of Mt. Gox
Mt. Gox halted withdrawals on February 7th, 2014 due to insolvency after an allegedly undetected theft that had been occurring since 2011. The company said it was pausing withdrawal requests “to obtain a clear technical view of the currency processes”. Mt. Gox would also suspend trading on February 24th. Bitcoins amounting to a half billion US dollars at the time of the event had been missing, making it the largest-ever bitcoin loss by USD value.
After the shock, it was thought Mt. Gox no longer held any bitcoins. In March 2014 however following the application for commencement of a civil rehabilitation proceeding, wallets were rescanned and their balance researched. On March 7, 2014, Mt. Gox then confirmed that an oldformat wallet which was used prior to June 2011 held a balance of approximately 200,000 BTC.
I guess. I bought in when it was a half a penny anyway think I'll just take my $$ and spread it into other coins
I'll also say that Bittrex Stop Loss menu makes alot more sense than Poloniex's.
All they need is a night mode
Nope. Soon supposedly
Does anyone have any Iconomi?? It's only on Kraken right now but I've heard someone mention it. It's not one of these penny coins but anybody take a look at it?
I dont mind it going low. I will by more. I think you guys are all downplaying the role that market expansion is going to play. All this bubble talk is extremely premature.
Of course this is my opinion. If a few folks on this board were not sharing million dollar stories. Everyone would be more patient.
If you are trying to be a day trader sure flip every penny. But the last two days has been nothing but take your cash and run talk. All the top investors play the market and stay in the market.
The whole market is only two years old and revolves around two coins lol. Wait till there are really some competitors. This market is in the infant stages.
But you are welcome to sell your coins to me.
If you are going to send a large wire i urge everyone to use gatehub $15 flat fee.
So if you withdraw/transfer over $6,000 per week, from coinbase to your bank account or paypal, they will ask you for your social security number?
Am I reading that right?
Good info to know
Yeah I did a did a withdrawal of just under 5k one day, then the next tried to do one of 5k and they asked for ssi#. Instead of accepting, I lowered the number withdrawn until the max of not requiring to give ssi#. The total ended up being a little over 4K. I'll try again later today.
We are all Novices, but ETH is a much safer bet.
Concur. I'm staying down til they close me out.
Me too..Once my position almost doubled,I was out. I actually read up on that Citi competition and I don't see Digibyte winning the competition.At best I see their presentation generating more interest though.If it falls enough, I might buy back in. I did take a strong position in Verge though.Are you still in on em deep? I'm going to pull out once i'm up and get into more stable coins.
1 ETH will probably be about $1500 in a year. Just my guess I think it's gonna be Bitcoins main competition and might even have the edge
Fellas do me a favor. Look at your holdings over the last 30 days. I think your chart will look similar to mine for 70% of your coins.
I am on the phone so no time to post the charts but look at these dates for a steep climb.
Around may 16-17 steep climb
May 20-23 steep climb
June 1-3 steep climb
What we need to focus on is what were the market factors that lead to this. I got 10 coins and 7 of them them acted in this fashion.
So the tends that was developing was no real growth then the initial wave. Followed by 1 week of correction then second wave followed by a two week correction.
We just finished the 3rd spike so are we looking at 2.5 more weeks till the next wave?
Remember tons of these coins are just starting the bear the fruit from their start in the market. I believe with the influx of capital in the market it has accelerated the growth of all coins.
Because crypto is just starting to get noticed by the public and investors i say give it a good three years before we really get a better understanding of how this will play out long term.
I am on the phone so no time to post the charts but look at these dates for a steep climb.
Around may 16-17 steep climb
May 20-23 steep climb
June 1-3 steep climb
What we need to focus on is what were the market factors that lead to this. I got 10 coins and 7 of them them acted in this fashion.
So the tends that was developing was no real growth then the initial wave. Followed by 1 week of correction then second wave followed by a two week correction.
We just finished the 3rd spike so are we looking at 2.5 more weeks till the next wave?
Remember tons of these coins are just starting the bear the fruit from their start in the market. I believe with the influx of capital in the market it has accelerated the growth of all coins.
Because crypto is just starting to get noticed by the public and investors i say give it a good three years before we really get a better understanding of how this will play out long term.
Yall must remember the Spaceage and a few others are in the cat bird seat. Their strats are a bit different. They have already won the only question for them is how big do they want the win to be.
Basically your money not about to grow at the same rate as theirs because of amount of investment. Now of course since they are being successful no reason to reinvent the wheel. But the factors need to be comparable or you may need a different approach.
Basically those in that "winning position" can enter and exit so fast an still make tons of profit while most of us can't see those types of gains in that period of time.
However coin selection should be followed. Also their patterns should be studied by use because they have proven to work.
Just some food for thought. I have studied markets for hair care products, bbq sauce, automobile parts, home video sales, transportation, you name it.
I have never seen anything like this crypto currency shit. Yes people bring up the dotcom stuff but I knew that was some bullshit from day 1. This technology is actually more tangible.
Imo look for the coins with the best or legit tech and stay with those. This is a new age in investing. Plus the other factors beyond tech are crowd funding, cause driven coins (like the weed coins).
I can envision a cancer coin, hiv coin etc.
This is truly the start of something huge. Computers lead to Internet lead to digital currency.
Sorry fellas i know i jumped all over the place but, I am very excited to be a part of something where I won't have to be playing catch up.
History rhymes. It doesn't repeat. It's very similar. The .dot com boom wasn't bullshit. Companies like Google are proof of that (Google itself is worth several times more than this entire market and that doesn't include all the other massive companies like Amazon that were founded during that boom). What just happens with a transformative technology, process, or model comes into play, is that it starts wild speculation which creates a bubble. Crypto is just another paradigm shift. Crypto isn't the only one happening right now, it's just the only one that most non-wealthy people can participate in at this moment because it doesn't require normal public market regulation for liquidity but has that type of liquidity environment.
Last edited:
I respectfully disagree about another wave coming, in fact I see the down turn happening soon.
I've been learning technical analysis since January and even paid a major crypto trader to teach me Elliott wave theory.
Elliott wave theory assesses investor behavior and looks for patterns in behavior.
Under the impulse wave theory, there are generally three impulsive waves followed by a retracement.
That's the basic 1-2-3-4-5 impulse wave theory.
So here's a picture of the entire Bitcoin market from day one to now (sorry for bad quality at work took picture from work computer)
The red line is BTC's first all time high in November 2013 where it traded at $1,169.
From that ATH it had a down turn that took 3.2 years to test the ATH again on March 10 2017.
That's a 3.2 year bear market where Bitcoin retraced nearly 80% in value before recovering.
Using a fib extension on the first ATH (Wave 1) generally the third impulse wave exceeds the prior Wave 1 high from between 1.618 to 2.618.
Here, the first wave 2.618 projection is $3,014....and guess where we are at today? $2,839.70.
Here I take the market reversal BTC low to the 2.618 projected high which it looks like we can hit or exceed before August 1st, which also coincides with the soft fork. That would be the end of Wave 3.
After Wave 3 is another retracement Wave 4 which could hit the 50% retracement at $1,670 or $1,350. The Wave four is generally shorter than Wave 2 so this would push a Bitcoin recovery to May 2018.
Finally here's the projected wave pattern.
So I expect a market down turn very soon.
This does not mean the bubble has popped, this just means that the impulsive Bitcoin behavior of the last few months will be over and a natural retracement of the price will occur.
Yes I believe this is a bubble but we aren't at the heights yet.
If the Elliott wave holds out we have another wave 5 that will hit $4k+ next year.
Again this is all predictions and no one knows but this is how some traders look at the market.
Finally here's the projected wave pattern.
So I expect a market down turn very soon.
This does not mean the bubble has popped, this just means that the impulsive Bitcoin behavior of the last few months will be over and a natural retracement of the price will occur.
Yes I believe this is a bubble but we aren't at the heights yet.
If the Elliott wave holds out we have another wave 5 that will hit $4k+ next year.
Again this is all predictions and no one knows but this is how some traders look at the market.
So are you saying we should cash some BTC out for USD soon since it might come back to down soon???
I mentioned it a while ago but that was back when I was "snubbing" coins bcuz they were to expensive...it was @ $0.31 when the thread started...was $1.31 last I checked
My plan is to assess the market very closely when we hit $3000.
If the signals indicate a decline in price coming then yes I would liquidate my Bitcoin's for USD then wait back to buy lower.
But I would also have Bitcoin on hand to buy up the alt coins that will also decline in price.
Just like the dotcom bubble, a bear market flushes out the bad investments.
A shitcoin like Reddcoin will fall back to earth while the pricier coins will be more affordable.
that's how you do it.
Similar threads
