Wow. Bitcoin is almost $1,500

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momeNt

Diamond Member
Jan 26, 2011
9,297
352
126
What about step 5, withdrawing VET into local wallet? I don't trust online exchanges to keep coins. Where do you withdraw your VEN/VET coins?

Currently Binance has high withdrawal fees on VET. I am not sure if it is flat or a %, but of the ~49VEN I own the withdrawal fee is 5 VEN.

Other countries have better exchanges with lesser fees.
 

Red Storm

Lifer
Oct 2, 2005
14,233
234
106
Currently Binance has high withdrawal fees on VET. I am not sure if it is flat or a %, but of the ~49VEN I own the withdrawal fee is 5 VEN.

Other countries have better exchanges with lesser fees.
5 VEN is a bit much, but I'd rather pay that ~$20 now and have the peace of mind that the rest of my VEN won't vanish if something happens to Binance.
 

fleshconsumed

Diamond Member
Feb 21, 2002
6,483
2,352
136
You can use MyEtherWallet, which is what I'm using to store my VET/VEN.
That kind of makes sense since I remember hearing VET still uses ETH tokens/network. However, dumb question, so I create ETH address with MEW and withdraw VET to that MEW/ETH address? That doesn't really make much sense to me, how does the network know it's VET and not ETH?

Currently Binance has high withdrawal fees on VET. I am not sure if it is flat or a %, but of the ~49VEN I own the withdrawal fee is 5 VEN.

Other countries have better exchanges with lesser fees.
That is steep. Thanks for the heads up. Going to have to research VET withdrawal fees and daily limits if any. Wish it wasn't such a wild wild west.

Does anyone else have any recommendations for good ETH/VET exchange that's trustworthy (as trustworthy as they can be), has no or high withdrawal limits, and has low'ish withdrawal fees? I'm thinking of throwing 1ETH into VET.

5 VEN is a bit much, but I'd rather pay that ~$20 now and have the peace of mind that the rest of my VEN won't vanish if something happens to Binance.
It's not much if it's a flat fee, but it is a lot if it's percentage.
 

momeNt

Diamond Member
Jan 26, 2011
9,297
352
126
It's not much if it's a flat fee, but it is a lot if it's percentage.


5 VEN is a bit much, but I'd rather pay that ~$20 now and have the peace of mind that the rest of my VEN won't vanish if something happens to Binance.

Just checked, it's flat.
https://support.binance.com/hc/en-us/articles/115000429332-Fee-Structure-on-Binance

I believe it is due for an update though. This fee is from when it first started on Binance and it has appreciated greatly since then. Similar coins have closer to 6$ or less in withdrawal fees.
 

Red Storm

Lifer
Oct 2, 2005
14,233
234
106
That kind of makes sense since I remember hearing VET still uses ETH tokens/network. However, dumb question, so I create ETH address with MEW and withdraw VET to that MEW/ETH address? That doesn't really make much sense to me, how does the network know it's VET and not ETH?


That is steep. Thanks for the heads up. Going to have to research VET withdrawal fees and daily limits if any. Wish it wasn't such a wild wild west.

Does anyone else have any recommendations for good ETH/VET exchange that's trustworthy (as trustworthy as they can be), has no or high withdrawal limits, and has low'ish withdrawal fees? I'm thinking of throwing 1ETH into VET.


It's not much if it's a flat fee, but it is a lot if it's percentage.

Yes, that's what I did. Sent the VET/VEN to my MEW address and it worked. It shows up under your token balances when complete.

I do believe that's a flat fee, as I had to pay 5 VEN but I was moving more than 50 VEN.
 

destrekor

Lifer
Nov 18, 2005
28,799
359
126
I've heard rumours some Canadian provinces are already sold out of transformers in anticipation of some large scale farms already on their way.

This is no joke, all available data centers medium & small I know of are all rented out. There are people actively scouting out high voltage available buildings.

That's honestly a huge concern going forward. We can't keep throwing power at mining unless it's carbon neutral (off-grid, renewable energy). That's why I love some blockchains like NEM, because they don't need massive computation to achieve the same end state.
 

destrekor

Lifer
Nov 18, 2005
28,799
359
126
I was thinking about the incredible arbitrage opportunity between the bitcoin, eth, and other coins prices in US vs South Korea. It seems like there is big enough price difference to make it lucrative and very worthwhile to buy the coins in the US and send it to Korea to sell it there. The problem is getting the money out of South Korea but you just have to get creative. This seems like no-brainer. What am I missing?

EDIT: NVM, I just read about the South Korea's Financial Services Commission Chairman's speech on cracking down on bitcoin money laundering. I don't want to be involved when regulators are looking to put the hammer down on the practice.

There are arbitrage opportunities everywhere. I haven't taken a good look at them in awhile but Coinigy has a great market matrix of arbitrage opportunities.

Not sure if it's one that can be actively taken advantage of, but I've noticed a huge difference in price of SiaCoin between Poloniex and Bittrex, but that's probably because deposits/withdrawal in SC is probably not possible on Poloniex right now. I just haven't had the time to earnestly look into any arbitrage opportunities.

Then again, honestly until not too long ago, I hadn't a damn clue what arbitrage was in investments, though I had looked into the actual practice (without knowing the name) a few different times. But I always came away unable to formulate a method, with what I had, to actually make anything that made it worthwhile. Now that I have a stronger portfolio, it may just be time to get into that.
 

destrekor

Lifer
Nov 18, 2005
28,799
359
126
That kind of makes sense since I remember hearing VET still uses ETH tokens/network. However, dumb question, so I create ETH address with MEW and withdraw VET to that MEW/ETH address? That doesn't really make much sense to me, how does the network know it's VET and not ETH?

Not a dumb question at all, it's not entirely self-evident just how that works out.

VeChain is currently on the Ethereum network, and as such its native token is an ERC20 token (a token protocol/format on Ethereum). Because of that, any ERC20-compatible wallet can hold such tokens. My only hands-on experience with the concept is when I bought into the Civic (CVC) ICO and, using the native/original ETH desktop wallet, I had to create the token space or however they refer to it, after which I could then deposit the token to my wallet. Once there then you can specify whether you want to send ETH or one of the tokens in your wallet. That whole concept is actually what Ethereum is all about - ETH is just the native token/coin to facilitate the network, but really it's all about the token/subnetwork capability. A vast majority of ICOs have been ERC20 tokens.

VeChain intends to launch their own blockchain in 2018 - where my knowledge stops is figuring out just how the tokens you hold on Ethereum end up usable on VeChain's new chain, but I honestly haven't looked much into that beyond finding out it is an ERC20 token.
 

Zeze

Lifer
Mar 4, 2011
11,107
1,018
126
Hear me out on this crappy story of mine.

As you know it takes like 9 days to clear btc/eth on Coinbase, preventing you from trading them into altcoins.

I was so mad at this because if I have done wire, it would've only taken a day or so.

So I was so mad at this lost growth while VET was mooning in last 12 days. I was so so mad.

Well thankfully ETH I bought has been kind of mooning too. Thanks to that, ETH growth in those 9 days was only outpaced by VET by 25%~ less.

Upon learning this, I feel much better. I can live with that.

So i finally traded them for more VET today.

I kind of contemplated gambling my Eth to buy DBC because it exploded 400% in same 9 days. But decided against it. VET is just too solid and more stable. And it'll skyrocket in its own right.

So I guess time to maybe step away and not incessantly follow crypto prices now.... who am I kidding.
 
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Yakk

Golden Member
May 28, 2016
1,574
275
81
That's honestly a huge concern going forward. We can't keep throwing power at mining unless it's carbon neutral (off-grid, renewable energy). That's why I love some blockchains like NEM, because they don't need massive computation to achieve the same end state.

It's hydro power for all of it. Actually the surplus of hydro power which can't be sold off is wasted so any mining is using power which would be wasted anyways in this case. The cheap electricity prices is what is attracting them.
 

destrekor

Lifer
Nov 18, 2005
28,799
359
126
It's hydro power for all of it. Actually the surplus of hydro power which can't be sold off is wasted so any mining is using power which would be wasted anyways in this case. The cheap electricity prices is what is attracting them.

Awesome! That I fully support, it's practically free energy; as you say, use it or lose it, if there is sufficient surplus then it's a win/win for everyone involved, including the electric operator who stood to make less money doing the same amount of work basically.
 

destrekor

Lifer
Nov 18, 2005
28,799
359
126
hehehehe

A penny stock I put a small amount into some time ago, just announced intent to purchase a crypto mining group. It's pretty healthy right now :D

I've held it through a few ups and downs, it hasn't been anything to hold onto it. I thought I saw something different about this one versus the vast majority of penny stocks (versus others I have still held onto that continue to remain shit - actually forgot to sell before the end of the year to take advantage of capital loss deductions. :D :( )

PMPG for those who care to look into it.
 

zinfamous

No Lifer
Jul 12, 2006
110,543
29,148
146
Ok we NEED this!

All information is publicly available right here, so no surprises to anybody on investor expectations.

Now we just need to get this listed under an offshore shell company.

Well you better delete my posts, then. :D
 

zinfamous

No Lifer
Jul 12, 2006
110,543
29,148
146
There has to be some nerds here who can make NEF coin reality. If you can make NEF coin, that's you become Mark Cuban style rich. We will pump and sell to other suckers and cash out.

I don't know if it's your shameless meat addiction or ideas like this, but there were always some reasons that I knew I liked you.
 

destrekor

Lifer
Nov 18, 2005
28,799
359
126
I propose we at least keep the real coin name a semi-secret, probably badly kept. NEF is now known, it should have a new name.

Perhaps NEFF?


edit:

oops :oops:
 

zinfamous

No Lifer
Jul 12, 2006
110,543
29,148
146
Nah, better to be crystal clear why this coin exists. Put it all out there!

If Dentacoin can skyrocket and nobody knows WTF it is, why not ATO?

you know, that's a good point.

...has anyone successfully defended themselves being admitted, informed participants in a scam?

hmmm
 

Zeze

Lifer
Mar 4, 2011
11,107
1,018
126
So.. who's doing this ATO/NEF coin launch?

Does ATOT mods allow it? LOL. My title will be Major Shilling Pump N Dumper. ;)

Just call me Major.
 
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Yakk

Golden Member
May 28, 2016
1,574
275
81
Kodak company is tanking...

Kodak announces Kodakcoin

Kodak stock up 44%


Can't even make up stuff like this... :rolleyes:
 

Zeze

Lifer
Mar 4, 2011
11,107
1,018
126
Kodak company is tanking...

Kodak announces Kodakcoin

Kodak stock up 44%


Can't even make up stuff like this... :rolleyes:
I actually welcome a bubble pop to weed out all these trash. I can buy more at the dip.
 

momeNt

Diamond Member
Jan 26, 2011
9,297
352
126
Kodak company is tanking...

Kodak announces Kodakcoin

Kodak stock up 44%


Can't even make up stuff like this... :rolleyes:

This isn't a bad idea, digital media suffers a secondary sort of degradation just from being copied on the internet. Blockchain technology can make these meme a thing of the past.

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