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Who is buying?
Agree. I was pure miner, but since July did not sell any FTC and even buying time to time.
FTC is up on market cap and transaction maximum has reached $10 Milion per 24 hours. 10 times previous peaks and continuing high daily transaction rates ~ $5 Million.
Having seen the fees and slow transactions, around at the moment, I suspect FTC is being used as trading intermediary. Very interesting, that has caused 10 times the “trading”, than “big whales type trading”.
Looks like FTC beat it’s previous highest market cap with $54 Million.
Still going strong. Transactions weren’t slow in my experience with a zero fee. Maybe I made them in the quieter moments?
I just posted about fees, FTC still has a lot of room in the blocks, so low fee blocks still go through fast. It Litecoin were just selling on speed, they would loose currently, but that isn’t all that needs to be considered. I agree with recent interviews with “Charlie Lee” and that even with Segwit, Bitcoin has past it’s currency usefullness (due to the limited supply) with it’s overkill POW power, is more of a store of wealth.
However, at only 4 times more coins, Litecoin (if crypto continues) will also pass through a period where it’s value will increase due to limited supply and it’s scrypt ASIC will give it security so that it too will end up a store of value.
So, I don’t know about the wider world, but “People” are starting to ask me about crypto.
One question I suggested an answer for was how to reduce fees and they have already saved money transferring FTC and LTC, then accumulating. They’ve had the added bonuses of the speed of transfers is “amazing (quote)” and their transfer cash reserve just increased by 4x (which they sold last night). The only disadvantage is the price was holding steady which was better for “stability”
Last week was the old days though, now they are sitting at work waiting for FTC to go down, so they can buy back in.
Note : I don’t trade yet, all trade “stories” followed at your own risk.
Hey everyone, it took us about 9 months, but it appears that we will see a golden cross in the next few days. The 50 day moving average is about to cross above the 200 day moving average. Pretty significant event! Cheers!
@calvinweight So what does that actually mean ?
@digga I think what he is saying is this : it means that the longer 200 day average has been increasing despite fluctuations in the shorter average of 50 days. The short term average is about to be higher than the long term (again). since the long term has been going up presumably to maintain this you need the short term to be above it for some period of time. So people who do this kind of technical analysis would buy right now assuming the pattern holds. Of course if the stock … er i mean currency is always going up (or down) the lines never cross. fluctuation is how short term investors try to make money, this pattern is something they would look for.
I’ve never done this kind of techincal analysis but if there is some other meaning i’d love to hear it. (personally i put zero stock in anything but fundamentals cause i’m a buy it and forget kind of guy. hence my interest in feathercoin. its strong )
@digga It’s just a longterm bullish signal. For investors with a really long investment horizon, this is usually a sign of price strength. It could attract some long term investment in other words.
This is a bit of a SiFi answer to whom will be buying in the medium term.
“Artificial Intelligence” / “Machine Learning” applications require large amounts of training data to acquire subtle abilities. Currently we give away our data, even have to watch adverts whilst giving it away.
In the future that will not happen so readily, training data will become very important, especially clean or curated sets. You will be paid to contribute to those training sets and altcoins will be part of that economy.
https://comma.ai/ is an open source data set collection for self driving cars, the idea being to upgrade your own car. Currently it is a dash data collection system you get paid “tokens” to contribute your data.
Anyone want to start their own “machine learning training data collection business” and pay in altcoins?