Consolidated Crypto Traders/Chat Thread

Discussion in 'Blockchain & Cryptocurrency Mining' started by Optimus., Dec 15, 2017.

  1. illdrift

    illdrift Member

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    This elongate has me so confused....

    It's themed around a parody of a tweet?

    Nowhere does it say what it actually is or does. Are they literally just selling you tokens and then donating the proceeds to charity?



    rofl at the tagline... " If there’s ever a scandal about me, *please* call it Elongate"
     
    Last edited: Apr 18, 2021
  2. rabih1978

    rabih1978 Member

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    Who just saw all the crypto market crash with bitcoin dropping to 51k
     
  3. RP_Automotive

    RP_Automotive Member

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    Yep everything is taking a dive, not sure why but I’m sure there’s a reason.
     
  4. r3s

    r3s Member

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    People taking profits after ATH's like every other time i would imagine?
     
  5. RP_Automotive

    RP_Automotive Member

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    Supposedly some ‘whales’ moving things around, looks like a pretty quick recovery...and tbh with the recent gains over the last week, it’s no surprise there’s a bit of a correction. There’s also apparently a bit of a correction after the coin base listing going on.
     
  6. illdrift

    illdrift Member

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    BTC always seems to have a hard dip towards the last part of the month, somewhere around the 20th. Carries everything down with it.

    I`ve seen suggestions its related to bitcoin options coming up for expiry
     
  7. Slug69

    Slug69 Member

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    I am now hodling for the first time and beginning to buy alt coins.The peak we just enjoyed was a thicc one and I don't see a 2017 like blip. As mentioned previously, there is no big companies or countries trying to kill it anymore.
     
  8. mAJORD

    mAJORD Member

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    Sorry if has been asked before.. hard to search the terms, but.. What have people succesfully used to cash out crypto? BTC or ETH ?
     
  9. Slug69

    Slug69 Member

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    BTC for me. Mining ETH for someone else (Nicehash), paid in BTC, convert BTC to AUD. I have one two older card setup mining on HiveOS mining ETH Directly - I haven't reached payout yet but I understand it is the ETH you mined you get to keep and take out what you have to anywhere you want.
     
  10. mAJORD

    mAJORD Member

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    but are you keeping then AUD on exchange or tfr to actual bank account?

    Wondering what people are doing for the later
     
  11. dakiller

    dakiller (Oscillating & Impeding)

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    You wanting to trade or just cash out? I use BTCMarkets to cash out, sell coins to AUD and withdraw, easy as.
     
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  12. mAJORD

    mAJORD Member

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    Yeah just cash some out. So many options out there, but don't know any real world experiences (until your post) , so i'll give that a go :) thanks..

    Oh, I am on Binnance also.. I could just use that if I go through the ID verifications biz, but just can't find any real world feedback on the process.. i.e will it take forever/ be in limbo for ages (making me anxious) , which I see has been an issue on some other platforms. Their own FAQ's are all about BUY BUY BUY , never 'sell' / cash out , and the one page that does tries to encourage you to not cash it out :lol: (surprise surprise)
     
  13. Slug69

    Slug69 Member

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    It took less than 20 minutes on Swyftx.
     
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  14. dakiller

    dakiller (Oscillating & Impeding)

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    I don’t know if they changed their verification, but when I signed up it was just give drivers licence number over and that was it. 8k withdrawal limit on the level one account, you can request more and without doing much get 20k on level 2 and 50k on level 3 which is the limit. 50k seems to be the limit on all aussie exchanges, which I doubt would be a problem for most, but I’ve cashed out over 250k this year and having to take multiple days to get it in my account is slightly annoying.

    Most recommend holding your coins off exchange, which most of mine is, but I also don’t worry about the est 350k that I got parked on BTCMarkets either.
     
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  15. mAJORD

    mAJORD Member

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    Do you have to Buy Crypto from either of these exchanges though? or if you you tfr your Crypto from your personall wallet, are they content with the fee's to cash out?
     
  16. RogerWiIco

    RogerWiIco Member

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    Once you transfer form private wallet into exchange you will have a crypto balance. Then you will have to sell the crypto through the exchange and they take a "brokerage" fee, that is how they make money so all the care about
     
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  17. dakiller

    dakiller (Oscillating & Impeding)

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    An exchange is just there to match buyers and sellers. For every buyer, there is a seller and for every sell there is a buyer. The exchange doesn't have money or crypto of its own on there, they don't go and source either of them. The exchanges customers bring all that in themselves. The exchange just has a list of buy's and sell's on an orderbook of people wanting to buy and sell at a certain price, and when those prices overlap, a transaction happens. The exchange then takes a % fee of the order amount for itself, 0.2-0.8% typically, depending on how much business you've done with them in the past.

    https://app.btcmarkets.net/buy-sell

    Check out the Buy Orders, Sell Orders, Last Trades and the Market Depth tables on this page for all the details on the process.
     
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  18. Mac-Pro

    Mac-Pro Member

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    There was a blackout in village in china which affected the miners which brought the btc hashrate down. The price of btc follows the hashrate. This with a combination of users on binance and other exchanges that allow x150 leverage was enough to set off a bunch of sell orders which liquidated their leveraged long position that didn't have sufficient funds to maintain their account. As the price fell, it further triggered more leveraged long positions to sell off along the way until it hit $52k where it found sufficient support and people jumping in to buy the dip.

    Apparently $10b was liquidated.

    That's my understanding. Whales and most investors are hodling. The market is now in a healthier position after clearing out the idiots and institutions that over leverage. Unfortunately this seems to happen every few months. Last time it did a substantial dip I believe was back in Nov/dec 2020 (I don't remember the exact date) but we all now know what happened after that. At the time of this writing the price of btc is above $56k again.
     
    Last edited: Apr 19, 2021
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  19. Falcon

    Falcon Member

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    I cashed out a fairly large amount 2 weeks ago on Binance, took 3 days due to daily limits, but was the process was instant.
     
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  20. mr camouflage

    mr camouflage Member

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    I cashed some out with Binance a few weeks ago. If you have an account, but haven't done the ID verification you can only withdraw $20,000 every 24 hours, but the transfer uses the osco network, so it's in your bank account in minutes.
     

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