Bitcoin...Cryptocurrency

[LROSE]

Looking over the penny cryptos and saw Siacoin (SC).
Been trying to read up on it. Idea behind the coin is to decentralize datacenters.
At such a low price I am thinking of dropping a few bucks in it to see if it grows some legs.
Anyone looked at this one?

[texansfan]

Soooooo....the coin price on the exchanges I use is a more accurate amount? Binance and Bittrex coin prices are pretty close to the same although lower than coin market cap.


Skinny

Honestly I'm not sure who is more accurate in the crypto world.

But in stocks let's say one share of Exxon is actually $100.00

Schwab may sell you a share for $101.00
Etrade may do it for $99.75 (loss leader to drum up business)
Fidelity may ask $100.50

The difference in price is called the "spread" and the "fee" the broker charges you to have access to the exchange system.

The brokers can also do underhanded stuff on the backside like delay trades if they see the crypto is trending down thus making you take a larger loss but they will pocket the difference between your lil loss and your bigger loss.

These are just few of the tricks we see in the forex world (where the majority of brokers are offshore and unregulated....USA brokers can't do that mess as we have the SEC and CFTC protecting us)

There is a 5,000 post thread on babypips discussing each of the brokers and how they swindle ppl

[texansfan]

This statement is partially true. These are exchanges, as they do physically control the crypto coins that are being traded. However the fees do mimick the Broker/dealers. It goes with the whole decentralization model of the crytpo world where anyone can step in and create a trading terminal for people to exchange coins. This adds easier competition, lower fees, and no oligopoly is formed between the biggest players.

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Isn't coinbase a broker but GDAX the exchange?
I honestly don't do any flipping of cryptos.
I only mine ether and then trade ether for ripple or other cryptos and it's all been parked.
I focus 99.9% of my time on forex

[Neck]

This statement is partially true. These are exchanges, as they do physically control the crypto coins that are being traded. However the fees do mimick the Broker/dealers. It goes with the whole decentralization model of the crytpo world where anyone can step in and create a trading terminal for people to exchange coins. This adds easier competition, lower fees, and no oligopoly is formed between the biggest players.

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Atomic swaps could be a game changer.

[Samson]

Isn't coinbase a broker but GDAX the exchange?
I honestly don't do any flipping of cryptos.
I only mine ether and then trade ether for ripple or other cryptos and it's all been parked.
I focus 99.9% of my time on forex

They are really both exchanges. Coinbase acts as the gateway where your can trade your Fiat currencies for crytpo, as well a payment gateway for businesses to go from BTC back to USD. Gdax is Coinbase's enhanced exchange where you can trade crypto to crypto. So think of it as Coinbase =Fiat/crypto exchange and Gdax= crypto/crypto exchange.

In the us equities market, you have exchanges like NYSE, NASDAQ etc.. All the stocks that are listed with those exchanges can only be traded on those exchanges. Now not everyone can trade direct on those exchanges, that's where broker/dealers come in. Those would be like E-Trade, Ameritrade, Scottrade etc. We as the minions can only trade with the brokers so when you execute a trade with them, they actually execute the trade for you on the exchanges. That comes at a higher price because of the broker dealer middle man. Crytpo gets rid of that by combining the two together. There is no Central exchange that is the 800 pound gorilla.

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[J_Foster]

Looking over the penny cryptos and saw Siacoin (SC).

Been trying to read up on it. Idea behind the coin is to decentralize datacenters.
At such a low price I am thinking of dropping a few bucks in it to see if it grows some legs.
Anyone looked at this one?

Saicoin(symbol SC) is a project looking to decentralize data storage, more so than datacenter. For decentralized datacenter/infrastructure, take a look at EOS(symbol EOS).

Being in IT myself, I've liked what I've seen from my research on both EOS and Saicoin. I think SC may be the best bargain of all the top 50 cyptos.

[jer_james]

Yall are starting to speak a different language ...

[texansfan]

They are really both exchanges. Coinbase acts as the gateway where your can trade your Fiat currencies for crytpo, as well a payment gateway for businesses to go from BTC back to USD. Gdax is Coinbase's enhanced exchange where you can trade crypto to crypto. So think of it as Coinbase =Fiat/crypto exchange and Gdax= crypto/crypto exchange.

In the us equities market, you have exchanges like NYSE, NASDAQ etc.. All the stocks that are listed with those exchanges can only be traded on those exchanges. Now not everyone can trade direct on those exchanges, that's where broker/dealers come in. Those would be like E-Trade, Ameritrade, Scottrade etc. We as the minions can only trade with the brokers so when you execute a trade with them, they actually execute the trade for you on the exchanges. That comes at a higher price because of the broker dealer middle man. Crytpo gets rid of that by combining the two together. There is no Central exchange that is the 800 pound gorilla.

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Thus my confusion with coinbase and GDAX.
Why not Put everything on one exchange and eliminate the inefficiency?

I mean xrp could still force fiat-crypto-xrp exchanges but at least you wouldn't have to traverse multiple exchanges to do it

And we can't trade direct on the crypto market either (until atomic trades) so we go thru Binance, Bittrex, etc.

And just like stocks some cryptos are only traded on certain exchanges (xrp is not on coinbase)

Pretty much the same setup

[systemnt]

Yall are starting to speak a different language ...

ripple rip-ple ripp-le rippl-e ripple ?
ripple!

[Burntorange Bowhunter]

Seeing Cardano (ADA) making a little move today...Anyone heard anything on this?
Shows up 23% in past 24 hrs...

Go Cardano Go.

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[BlackoutRam2500]

So ripple shouldnt go near that high. There is a maximum of 100 Billion ripple for the market. At $300/ripple, you are talking about 30 Trillion dollars. Thats more than the 1.5x GDP of the US. While I understand this is a global currency, for a single currency to make it that big is very unlikely.

A few things about this theory, although I don't entirely disagree with you. First, the creators of Ripple are holding 50 billion of the currency back and will permanently so while their are 100 billion units only half that is in circulation. Secondly, large investment groups who can purchase huge blocks of the currency will create a shortage for casual investors like ourselves and drive the price up even further. Now, $300 is crazy but $50 not so crazy. Look at the dot com bubble in the 1990s and how company's that were losing money were valued crazy high. Look at the valuation of Apple right now and the multiples from which the stock is trading at. Ripple is on the hype high AND most importantly it has a good product/service as it's backbone so there is substance there.

[In-Yo-Grill]

Go Cardano Go.

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I saw it on the rise again.

WaBi, Request Network and Cindicator on my radar.

[Let's go Brandon!]

yall are starting to speak a different language ...

01001001 00100000 01001100 01101111 01110110 01100101 00100000 01010010 01101001 01110000 01110000 01101100 01100101 00101110 00101110 00101110 00100000 01001001 00100000 01110011 01101000 01101111 01110101 01101100 01100100 00100000 01101000 01100001 01110110 01100101 00100000 01100010 01101111 01110101 01100111 01101000 01110100 00100000 01101101 01101111 01110010 01100101 00101110

[Let's go Brandon!]

So ripple shouldnt go near that high. There is a maximum of 100 Billion ripple for the market. At $300/ripple, you are talking about 30 Trillion dollars. Thats more than the 1.5x GDP of the US. While I understand this is a global currency, for a single currency to make it that big is very unlikely.

But... if the banks adopt it to handle their accounts (Amazon etc) they'll have to dump "trillions" in it just to hold enough liquidity.

[Burntorange Bowhunter]

Newby here. Trying to figure out how to transfer from coinbase to Binance. Can't get registered in gdax, no web cam to take verification pic.

Webcam doesnt work.

Take a pic frtont and back and upload to computer.

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