Buying bitcoins

djan

cnocbui wrote: »

That isn't free-fall, just a very typical move for Bitcoin, particularly when it it has just moved strongly up through €2,400.

Wall to wall sour-grape pushers and Chicken Littles.

You really should relax a little.

I don't necessarily agree that it was a fre-fall due to the small market size and previous volatility but to a lot of people -+10% changes in the space of a few hours is quite drastic.

stooge

jester77 wrote: »

So, anyone want to predict what will happen

I reckon XBT will drop, but not too significant. What is more interesting is what will happen the altcoins. Usually they follow XBT, but I can see them going up in the short term with people dumping their BCC.

What is everyone going to do with their new BCC, hold, xbt, altcoins?

Interesting few hours/days ahead.

*My guess is that BTC will drop in the region of 10-15% in the next 24hrs. BCC will increase as a result then see a major sell off from 36hrs+

cnocbui

stooge wrote: »

now now, no need for abuse. no one knows exactly what will happen from the fork onwards. Current movement is also hard to analyze. plenty to be won and lost

You have an odd definition of abuse.

cnocbui

djan wrote: »

You really should relax a little.

I don't necessarily agree that it was a fre-fall due to the small market size and previous volatility but to a lot of people -+10% changes in the space of a few hours is quite drastic.

The irony is pretty epic. Perhaps someone who doesn't think a 10% movement in a few fours is anything special isn't as wound-up as those who think otherwise.

jester77

kraken falling over... bcc got off to a great start, hit $300. Altcoins also well up.

OldHouse

jester77 wrote: »

kraken falling over... bcc got off to a great start, hit $300. Altcoins also well up.

Do you mind me asking where you can see the price of BBC, or is it just on your kraken account?

jester77

OldHouse wrote: »

Do you mind me asking where you can see the price of BBC, or is it just on your kraken account?

You can see it here:
https://coinmarketcap.com/currencies/bitcoin-cash/

OldHouse

jester77 wrote: »

You can see it here:
https://coinmarketcap.com/currencies/bitcoin-cash/

Thanks for that, and now i'm even more confused. seems to be trading since the 24th of July. Taught it was a new coin created today?

asteroids over berlin

OldHouse wrote: »

Thanks for that, and now i'm even more confused. seems to be trading since the 24th of July. Taught it was a new coin created today?

futures market

makeorbrake

Is there a way I can sell off BCC in return for Bitcoin without any registration requirements?

grazinggreen

BCC market is open on Bittrex now. Against USDT only ATM.

grazinggreen

Going nuts at the moment, no liquidity in the market.

pro_gnostic_8

Still, over $300,000 traded whilst the market is only around an hour old.
Trading at ~ $335; early days but I'm somewhat taken aback at the price. BCC is showing strength that I didn't suspect was there.
Looks like I'll have to wait a bit for those sub-$50 coins. :rolleyes:

makeorbrake

So if I open an account with polonex - and just change BCH to BTC, what level of verification is required? i.e. do they make you go the whole hog - or is that only if cashing out to FIAT?

grindle

makeorbrake wrote: »

...only if cashing out to FIAT?

Yes.

pro_gnostic_8

It's ironic that those people who kept their bitcoin on an exchange that facilitated coin-splitting ( like Kraken) are now in a better financial position than those who did the "right thing" by withdrawing their coins pre-fork.
Those people whose BTC remained on an exchange can sell at the high current price and before the inevitable dump -- those whose BTC and BCC are in cold storage wallets cannot deposit their BCC to any exchange as yet.

pro_gnostic_8

makeorbrake wrote: »

So if I open an account with polonex - and just change BCH to BTC, what level of verification is required?

To the best of my knowledge, Poloniex has not yet decided if they will offer BCC trading on their platform.

Doodee

pro_gnostic_8 wrote: »

It's ironic that those people who kept their bitcoin on an exchange that facilitated coin-splitting ( like Kraken) are now in a better financial position than those who did the "right thing" by withdrawing their coins pre-fork.
Those people whose BTC remained on an exchange can sell at the high current price and before the inevitable dump -- those whose BTC and BCC are in cold storage wallets cannot deposit their BCC to any exchange as yet.

So you reckon its worth selling off your BCC right now?

makeorbrake

pro_gnostic_8 wrote: »

Those people whose BTC remained on an exchange can sell at the high current price and before the inevitable dump -- those whose BTC and BCC are in cold storage wallets cannot deposit their BCC to any exchange as yet.

So even though Trezor supports BCC, I can't transfer anywhere right now to sell the ruddy thing? Anyone want to buy any BCC for BTC or FIAT - with no exchange margin?

cnocbui

pro_gnostic_8 wrote: »

It's ironic that those people who kept their bitcoin on an exchange that facilitated coin-splitting ( like Kraken) are now in a better financial position than those who did the "right thing" by withdrawing their coins pre-fork.
Those people whose BTC remained on an exchange can sell at the high current price and before the inevitable dump -- those whose BTC and BCC are in cold storage wallets cannot deposit their BCC to any exchange as yet.

Funny, I would have thought the irony would lie with those who thought the end was nigh for bitcoin and sold up and got out. They don't even have any bcc to worry about.

pro_gnostic_8

Doodee wrote: »

So you reckon its worth selling off your BCC right now?

Yes, I do believe so. When the (big) majority of bitcoin holders who got their free BCC are able to deposit it onto exchanges there will be a large sell queue thus driving down the price. A dump?
The reason it is currently at $500 is because people cannot list their BCC to sell resulting in a false inflated price. And I don't see very many buyers in the order book at that price either.
The percentage of network hashpower currently pointed at BCC is less than 5% -- therefore making the 500$ price look ridiculous. It's fake. At 5% the price should realistically be around $130. ( I never thought I'ld hear myself saying this, but it also makes BTC look cheap -- even at $2700).

The above is of course predicated on the scenario that you actually have BCC already sitting in a coin-splitting exchange. If not, you just have to sit on your BCC in a wallet and wait. The price will definitely have fallen by the time you ARE able to sell.

pro_gnostic_8

makeorbrake wrote: »

So even though Trezor supports BCC, I can't transfer anywhere right now to sell the ruddy thing?

Yep, that's about it in a nutshell !
Kraken are saying that will add BCC to their platform in 8 to 80 hours. I suspect it will be the longer end of the range before they do.

I am a buyer of BCC from you at the price of $50 -- the price I mentioned I thought was fair a couple of pages back -- but I doubt if you will sell at that level?

Doodee

pro_gnostic_8 wrote: »

Doodee wrote: »

So you reckon its worth selling off your BCC right now?

Yes, I do believe so. When the (big) majority of bitcoin holders who got their free BCC are able to deposit it onto exchanges there will be a large sell queue thus driving down the price. A dump?
The reason it is currently at $500 is because people cannot list their BCC to sell resulting in a false inflated price. And I don't see very many buyers in the order book at that price either.
The percentage of network hashpower currently pointed at BCC is less than 5% -- therefore making the 500$ price look ridiculous. It's fake. At 5% the price should realistically be around $130. ( I never thought I'ld hear myself saying this, but it also makes BTC look cheap -- even at $2700).

The above is of course predicated on the scenario that you actually have BCC already sitting in a coin-splitting exchange. If not, you just have to sit on your BCC in a wallet and wait. The price will definitely have fallen by the time you ARE able to sell.

I am able to sell. Hope I can get $500 price for them now

pro_gnostic_8

Doodee wrote: »

I am able to sell.

Then, you are in a most enviable and excellent position !
However, mate, don't act solely on the advice of a stranger ( me) on the internet. Do your own due diligence and research before coming to a decision.
The main thing is that you are in a situation where you can chose to sell or hold -- the majority of BTC/BCC holders don't have that option at the moment.

Grumpypants

I don't have much bitcoin so I wasn't overly concenred about going the cold wallet route and loaded it on to Kraken pre split, so I have my BCH already.

It has passed €400 today. I am in agreement that I think it will tank down once the market opens up fully and people realise they have this Bitcoin cash, figure out how to claim it, and then realise they can get €400 a coin.

I'll watch it for a bit longer today, but I've set a sell order for €500 if it hits that I'll sell take the money and rebuy in the dip.

machiavellianme

Good old Bittrex. Just sold all my Bitcoin Cash at 750 dollars a pop. Leaving my BTC on the exchange was the right move (for once).

machiavellianme

Wow 40 seconds later it has smashed through 800 dollars. Completely underestimated how this was going to play out.

Grumpypants

Damm it that was fast, double damm I never checked Bittrex and just thought the price on Kraken was the price it was at in the market. Sold at €500, at the same time they were selling on Bittrex for €200 more.

machiavellianme

Now it's at 920. I'm beginning to wonder if bcc could actually replace BTC?

jester77

It already has the 3rd largest market cap, can't see it disappearing now.

lawred2

machiavellianme wrote: »

Now it's at 920. I'm beginning to wonder if bcc could actually replace BTC?

where?

lawred2

did that hard fork not just effectively invent an asset out of thin air?

alb

I wouldn't get carried away, the majority of people that want to sell BCH can't, so there are hardly any coins available to buy currently which is making it easy for the price to go up.

Also, it hasn't had a block mined since 2:30 last night, yikes.

alb

lawred2 wrote: »

did that hard fork not just effectively invent an asset out of thin air?

That's how software based assets are created. You can see it as that, or you can see it as the value of bitcoin being split across two blockchains now instead of one, kind of like a company spinning off a department into a new company and awarding shares in the new company to shareholders of the old one.

machiavellianme

Bittrex. It's back to 770 dollars now but that was an incredible couple of minutes.
Kraken seems to be a good bit less - it's strange to see such a large disparity between exchanges

lawred2

alb wrote: »

That's how software based assets are created. You can see it as that, or you can see it as the value of bitcoin being split across two blockchains now instead of one, kind of like a company spinning off a department into a new company and awarding shares in the new company to shareholders of the old one.

ah no I get the theory and the value being 'split'

but if BTC largely holds its value and BCC holds its new value - then has there not been asset creation out of nothing?

It's not like when the fork happened that the price of BTC was halved as would happen in a traditional asset split..

lawred2

machiavellianme wrote: »

Bittrex. It's back to 770 dollars now but that was an incredible couple of minutes.
Kraken seems to be a good bit less - it's strange to see such a large disparity between exchanges

arb opportunities

alb

machiavellianme wrote: »

Kraken seems to be a good bit less - it's strange to see such a large disparity between exchanges

Not really when you can't transfer the coins between exchanges. It's not a proper market yet due to this so it's really not worth paying much mind to the price.

alb

lawred2 wrote: »

but if BTC largely holds its value and BCC holds its new value - then has there not been asset creation out of nothing?

I suspect BCH (BCC is not the correct code) won't hold its new value when people can actually send their coins to exchanges, and that the value of BTC and BCH will be closer to what BTC was before the split when that happens.

jobless

so im a bit out of the loop...have some btc on a trezor...why can't i transfer it and sell it at the moment?.... are exchanges out of action at the moment...i normally use coinbase but know i cant deposit there

alb

Your job for today is to read this http://theconversation.com/bitcoin-splits-and-bitcoin-cash-is-created-explaining-why-and-what-happens-now-81943

You now have both bitcoin and bitcoin cash, the same addresses and balances of each coin, the private keys to both are the same, and are therefore on your trezor.

machiavellianme

alb wrote: »

I suspect BCH (BCC is not the correct code) won't hold its new value when people can actually send their coins to exchanges, and that the value of BTC and BCH will be closer to what BTC was before the split when that happens.

It's down as BCC on Bittrex. Just to add to the confusion.

jobless

alb wrote: »

Your job for today is to read this http://theconversation.com/bitcoin-splits-and-bitcoin-cash-is-created-explaining-why-and-what-happens-now-81943

You now have both bitcoin and bitcoin cash, the same addresses and balances of each coin, the private keys to both are the same, and are therefore on your trezor.

thanks ill read that.... i guess my question is .... is anywhere open for business yet to sell the new coin?...

Doodee

Grumpypants wrote: »

Damm it that was fast, double damm I never checked Bittrex and just thought the price on Kraken was the price it was at in the market. Sold at €500, at the same time they were selling on Bittrex for €200 more.

Same but I don't mind. €500 was the price I was happy to sell at. Still have my BTC, ANS, XRP and XVG.

machiavellianme

machiavellianme wrote: »

Good old Bittrex. Just sold all my Bitcoin Cash at 750 dollars a pop. Leaving my BTC on the exchange was the right move (for once).

Hit 1470 dollars on Bittrex a few minutes ago. This is crazy.

stooge

btc price is holding firm though, which I guess is a positive. Sold BCH on Bittrex @ 0.38, 5mins later it was 0.48. typical!

BTW price difference between bittrex and kraken is massive!

jobless

stooge wrote: »

btc price is holding firm though, which I guess is a positive. Sold BCH on Bittrex @ 0.38, 5mins later it was 0.48. typical!

BTW price difference between bittrex and kraken is massive!

are bitrex open to deposits of bitcoin cash??

KilOit

Most insane pump I've ever seen! If you can sell bcc now I think you should.. People will dump when they're able to move their bcc into exchanges

stooge

jobless wrote: »

are bitrex open to deposits of bitcoin cash??

I dont think the BCC wallets on bittrex accept deposits yet. Against all advice I transferred most of my money onto exchanges prefork so that I had the option to get rid quickly if the worst case scenario happened. The benefit was BCC to trade right away.

On another note, there must be serious financial pressure on exchanges at the moment given the combined price of btc and bcc/bch. Especially places like Kraken where you can trade into FIAT and withdraw.

SteelyDanJalapeno

This is madness