- Jul 15, 2014
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Crypto currency
- Thread starter Gator By Marriage
- Start date
- Oct 23, 2017
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A couple of weeks ago I bought a BUNCH of cryptocurrency lotto tickets - $100 amounts of currencies that had dropped 38.2% from their highs since the first of the year.
By far, the one that is doing the best is MATIC (Polygon), up 57% since buying it 10 days ago. Does anyone have any idea why? I’ve read that it is highly scalable and has low transaction fees, but that doesn’t seem like “news” that would drive a rapid price increase.
By far, the one that is doing the best is MATIC (Polygon), up 57% since buying it 10 days ago. Does anyone have any idea why? I’ve read that it is highly scalable and has low transaction fees, but that doesn’t seem like “news” that would drive a rapid price increase.
- Nov 12, 2017
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Polygon is the most popular layer 2 solution for Ethereum. It is also a Proof-of-stake system, which makes it use far lower energy than proof of work systems like Ethereum and Bitcoin. With all the energy concerns coming up from Tesla, and the fact that Ethereum 2.0 is going to a be a long way away, Polygon is seeing a massive surge in actual on chain use.
- Oct 23, 2017
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That makes sense. I knew it was a PoS system, using far less energy for transactions that Musk was complaining about. I just didn’t realize it was so far ahead of Etherium 2.0.
Now I need to research what it means to be a layer 2 system. So much to learn ...
Thanks for pointing me in the right direction.
- Nov 12, 2017
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The simplest way I can explain layer 2 is like Visa or Mastercard payments on top of our banking system. Imagine you had to wire money from one bank to another every time you buy a cup of coffee or buy something from the grocery store. It could cost you $30-$40 in fees and could take hours to settle. Instead Visa and Mastercard can support millions of purchases every minute through these systems, which makes them efficient systems, but they are not actually transferring money from one bank to another the moment the transaction is completed. Instead this second layer bunches up all these transactions, and then Visa and Mastercard become responsible to actually finalize all those transactions with the banks on a much larger scale, lowering transaction fees and speeding up transactions.
Thats not necessarily how layer 2 solutions work in crypto, but that is an example of a layer 2.
- Oct 23, 2017
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- Nov 7, 2015
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Who provides the price of Bitcoin?
When we say a stock went up 10 points, we are referring to the price on Nasdaq/NYSE, but where are the quotes for bitcoin coming from?
When we say a stock went up 10 points, we are referring to the price on Nasdaq/NYSE, but where are the quotes for bitcoin coming from?
- Sep 8, 2014
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I look on Yahoo Finance and it's in the ticker w/ all the other markets/indexes/exchanges, etc.
- Jun 12, 2014
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Founding Member
cnbc now includes it as part of their live broadcast
- Jul 15, 2014
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He's not talking about reporting spot price, he's talking about who/what is tracking/reporting the trades in bitcoin that determine the spot price that cnbc, yahoo finance, and everyone else in the world reports.Reading and comprehension people... reading and comprehension! ;)
- Jun 12, 2014
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Founding Member
Reading and comprehension people... reading and comprehension! ;)
- Jul 29, 2014
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- Jul 15, 2014
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Fuggin' tards...You're expecting an awful lot from Otis this early in the day....
- Jul 29, 2014
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- Sep 8, 2014
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I'll buy the whole damn thing if that happens!!
- Sep 7, 2014
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- Nov 12, 2017
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30k should be strong, but the more it gets tested, the more likely it will get breached. After that 20k should be strong, because it was the last bull market ath and was huge resistance.
I have no idea where it will go, but I started buying small daily amounts again since it dropped below 40k. I will 2x my daily buys below 30k and 3-4x my daily buys below 20k.
Fun experiment. Its money I am totally willing to lose so not stressed out about it. I gotta say it is good training wheels for major stock market crashes. 20% drops feel like a tuesday afternoon in crypto. Wall street hedge funds would be jumping from empire state building windows if that happened to the dow.
