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I sort of stumbled into this. I picked up an NVidia GTX 1080 GPU recently, it was more than I wanted to spend on a GPU but it was all that was avaialble at the time because the damn miners are buying up everything. So I thought I might was well mine with it so that it can pay for itself or pay a little bit back. That was a couple weeks ago when ETH was about $225/ETH, it then sunk down to $190 and since BTC forked it has gone back up to $295 as I write this post.
Then I decided to purchase $50 worth of ETH to see what happens. It should've done that when it was $190 but oh well. I actually should've done it a year ago when it was a $.50/ETH.
It peaked at $400 recently let's see where it goes. I should probably purchase a bunch of smaller cryptocurrencies that are really cheap right now and if one of them sky rockets I'll make a little bit. If one goes from ten cents per to $100 per and I bought $50 worth
I have a myetherwallet and within that wallet you can purchase ETH and if you do that it uses coinbase.com to do the purchasing. I already had a coinbase account and linked it with my bank account. They charged about $3 in fees, for my $50 purchase though I wonder if it would've been cheaper to purchase directly through coinbase and then transfer it to my wallet. Also I won't get my $50 worth until the 15th so who knows what it'll be worth then. I got this email that says
Confirmation that you initiated a purchase of 0.16963382 ETH for $53.11 USD on August 08, 2017
So that 0.16963382 ETH could be worth $75 next week or $25 we'll see...
I'm on the ETH train. I am betting that like BTC started, this will be an "early" phase, and that it'll explode in some time. I have been investing weekly, based on limits set by Coinbase - which I think is working well.
Coinbase has been a pain in the ass for me. I wanted to exchange some ETH for BTC but I couldn't get past their verification process, plus their fees are much higher than gemini. I've signed up for Gemini and I can buy $1000 of BTC for only a 75 cent fee. It's 1.5% on Coinbase
Coinbase has been a pain in the ass for me. I wanted to exchange some ETH for BTC but I couldn't get past their verification process, plus their fees are much higher than gemini. I've signed up for Gemini and I can buy $1000 of BTC for only a 75 cent fee. It's 1.5% on Coinbase
Not a big deal in the larger scope of things, IMO. As long as that % keeps going up - which most indications indicate it will - I'm gonna stay on it. Super easy with Coinbase.
ICO crackdown may just be the start: China is reportedly planning tighter cryptocurrency rules
Published 1 Hour Ago
China is poised to further tighten rules on virtual currencies after regulators on Monday banned virtual coin fundraising schemes, Chinese financial news outlet Yicai reported, citing sources.
China banned and deemed illegal the practice of raising funds through launches of token-based digital currencies, targeting so-called initial coin offerings (ICO) in a market that has exploded since the start of the year.
Yicai's report late Monday cited a source close to decision-makers as saying the announcement on the ban was just the start of further follow-up regulations of virtual currencies.
In total, $2.32 billion has been raised through ICOs globally, with $2.16 billion of that being raised since the start of 2017, according to cryptocurrency analysis website Cryptocompare.
Bitcoin rival ethereum, which token-issuers usually ask to be paid in and which has seen dramatic growth this year, fell sharply on the news. It was down almost 20 percent on Monday at $283, according to trade publication Coindesk.
Bitcoin was also down 8 percent, while the total value of all cryptocurrencies was down around 10 percent after China's ban was announced, according to industry website Coinmarketcap.com.
my personal opinion, I think it's foolish to "react" to these changes right now. I mean look at how it started - 7 YEARS AGO - it took a lot of time to build and gain momentum. I'm staying in the game, baby!!!
The cost of BitCoin bought with Ethereum seems kind of bad (pretty high - low amout of BTC in exchange for Eth) right now - a shame as it's the first time that I've thought I'd like to convert some of it...
I know I should just sit on my Ethereum, but my God, I wish it wasn't so hard to spend?!? I don't wan't to give my bank account, "verify" etc. etc. I wanna be able to just quickly, easily, anonymously buy something for $15 or $100 (presently that would be some bike parts) using Ethereum. Somebody should setup a vending machine system that sells Visa cards for Ethereum and put one in each major city, they could make a decent profit on the fees.
Last edited by Christopher.; 01-28-2018 at 07:36 PM.
08-08-2017, 06:55 PM
Down almost 40% in 2 weeks time.
