ren hoek

Crypto & friends || #cryptoisstillfun #cryptonotdead

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If I wanted to send fund from coinbase to binance would you guys recommend ETH or LTC? Which is quicker? Or should I not have any problem regardless.

Also, I've only dealt with BTC, ETH and LTC. Does the Ledger Nano S support everything on binance?

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1 hour ago, themeanmachine said:

Uphold makes it a massive pain in the rear to set up an account.  Went through the verification steps including scanning my drivers license, taking a photo of myself, and signing over my first born child in pig's blood. Then tried to connect a bank account to add funds, and it gives me an error with no explanation. Submitted a support request and hoping it doesn't go into a black hole.  A normal person would not have the patience to deal with all this.

Fought this at Coinbase for several days. 

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59 minutes ago, SameSongNDance said:

If I wanted to send fund from coinbase to binance would you guys recommend ETH or LTC? Which is quicker? Or should I not have any problem regardless.

Also, I've only dealt with BTC, ETH and LTC. Does the Ledger Nano S support everything on binance?

I sent money to Binance a couple days back using Bitcoin. I transferred from Bittrex to Binance and it took about 10 minutes or so for the funds to arrive in my Binance trading account. 

If sending from Coinbase, I'd guess it will take about the same amount of time.  I originally moved all my coinbase funds to Bittrex, so I could trade alts, and the time it took was about 30 minutes or less.  

Edit:  Also, just a general observation, but you can trade LTC, ETH and BTC into other alts on Binance.  Bittrex only allows BTC trading between alts.  

Edited by Gustavo Fring
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Are there any reputable sites to buy BAT from other than Uphold?

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Keep an eye out for rumors on which coins, Coinbase will be adding in 2018.  Right now, it seems like a near lock that Bitcoin Cash will be on that platform...some other rumors have been XRP, ZEC, XMR, ZRX (0x) to name a few, but no idea what ultimately gets listed there.  Whatever does, is going to skyrocket in the short-term, like 2-3x return potential.  

If you have not heard of the 0x (pronounced zero X) project yet, do some research, as this coin has huge 100x upside potential if it catches on over the next 1-2 years.  A couple crypto guys who are big players said it could potentially be the next ETH (but don't want to get too ahead of myself).  2018 is going to be a great year for privacy coins, in general.  

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3 hours ago, CR69 said:

@hagmania You might want to check out NEO too. My portfolio consists is heavily weighted towards BTC and ETH, with smaller percentages in LTC, XMR, DASH, NEO, OMG and BAT.

I’m in on all these as well as a nice cache of 40-cent Vertcoins bought this summer.  VTC fans are calling for pre-spike Litecoin type prices by mid next year ($40-$60) so there’s still a window to get in.    Plus it’s a fade against everything that makes BTC suck (ASIC, fees, speed)

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Best Reddit subs, twitter follows, websites for news on the basics? ETH/BTC/LTC/XRP? 

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12 hours ago, Nathan R. Jessep said:

My bank deposit to my BAT card took the full 7 business days, and it was at the end of the day on the 7th day. But you are locked in at the rate from when you initiated the deposit. It shows in your Transactions (along with the locked in rate) as "Pending" during the 7 days. 

Do all the exchanges require this level of verification? DL, pic, First-born, etc.?

What’s the chain of events from verification to purchase that ends with placing in a wallet? 

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4 hours ago, Gustavo Fring said:

Keep an eye out for rumors on which coins, Coinbase will be adding in 2018.  Right now, it seems like a near lock that Bitcoin Cash will be on that platform...some other rumors have been XRP, ZEC, XMR, ZRX (0x) to name a few, but no idea what ultimately gets listed there.  Whatever does, is going to skyrocket in the short-term, like 2-3x return potential.  

If you have not heard of the 0x (pronounced zero X) project yet, do some research, as this coin has huge 100x upside potential if it catches on over the next 1-2 years.  A couple crypto guys who are big players said it could potentially be the next ETH (but don't want to get too ahead of myself).  2018 is going to be a great year for privacy coins, in general.  

Good post here.  I think Monero is a real good one to be vested in.  Apparently people are 'cleansing' money through XMR and going back to the original currency.  

Not for nothing, Coinbase CEO seems to be a real big fan of the BAT token specifically.  

https://mobile.twitter.com/brian_armstrong/status/847521850980614145

I wouldn't be surprised at all to see that and BCH in there next year.  

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3 minutes ago, ren hoek said:

Good post here.  I think Monero is a real good one to be vested in.  Apparently people are 'cleansing' money through XMR and going back to the original currency.  

Not for nothing, Coinbase CEO seems to be a real big fan of the BAT token specifically.  

https://mobile.twitter.com/brian_armstrong/status/847521850980614145

I wouldn't be surprised at all to see that and BCH in there next year.  

i really like Monero. People in the space that i trust all like it.  Just sucks it's so f'ing hard to store.  I tried downloading the Monero wallet but gave up.

If coinbase ends up listing Monero it will skyrocket.

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34 minutes ago, Johnny Rock said:

Do all the exchanges require this level of verification? DL, pic, First-born, etc.?

What’s the chain of events from verification to purchase that ends with placing in a wallet? 

At least DL or passport, not all require a pic (or first born) though. 

Get verified. Fund account from card/bank account. Purchase. HODL. Buy islands and Lambos. 

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5 hours ago, SameSongNDance said:

If I wanted to send fund from coinbase to binance would you guys recommend ETH or LTC? Which is quicker? Or should I not have any problem regardless.

I sent small amounts of both ETH and LTC from coinbase to binance with no issues, and it didn't take long at all for either one. 

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12 hours ago, Nathan R. Jessep said:

My bank deposit to my BAT card took the full 7 business days, and it was at the end of the day on the 7th day. But you are locked in at the rate from when you initiated the deposit. It shows in your Transactions (along with the locked in rate) as "Pending" during the 7 days. 

Thanks, appreciate the help. I maxed my daily deposit limit onto the USD card so I had to wait until this morning. Last night, $50 would get you 253 BAT but I couldn’t grab it. Now it will get you 205. Should I hold out or am I literally nickel and diming myself?

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8 minutes ago, Clorox said:

Thanks, appreciate the help. I maxed my daily deposit limit onto the USD card so I had to wait until this morning. Last night, $50 would get you 253 BAT but I couldn’t grab it. Now it will get you 205. Should I hold out or am I literally nickel and diming myself?

It's been pretty steady .22-.24 the last week or so, every time I've checked it.  I don't think you can go wrong at that price in the long run, personally. :2cents: 

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Probably goes without saying but I wouldn't keep a cent on Bitfinex or USDT exchange.  

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12 hours ago, ren hoek said:

Sorry.  I can't think of a good reason why coins wouldn't show up for you.  Can you see gold/silver?  

So all I can figure out is that it has to do with NY state.  Basically sounds like the only things I can use are Coinbase and Ripple, as they're the only two currently with a BitLicense?

So basically it sounds like I can't buy BAT until Coinbase adds it, at which point it'll be at a much higher price?  Do I have this right?  If so, this sucks big time.  I would think there's got to be a way New Yorkers are getting around it, but this is really annoying to try to figure out.

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Where is BAT exchanged? I just read back and couldn’t see? Just uphold?

I think my goal is to get into positions with coins I think coinbase will pick up, and hope for a spike, then diversify some from there. Thoughts? 

Edited by [icon]
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When do you move your coins from the Uphold exchange into a wallet, such as Ledger Nano S? Once your balance is higher?  Do you pay a fee to do so?

Then if you want to sell do you need to place them back on the exchange and pay another fee to sell?

How do you get a blockchain address or is it generated automatically? TIA

 

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3 minutes ago, jhib said:

So basically it sounds like I can't buy BAT until Coinbase adds it, at which point it'll be at a much higher price?  Do I have this right?  If so, this sucks big time.  I would think there's got to be a way New Yorkers are getting around it, but this is really annoying to try to figure out.

@Peyton Marino

I assume you didn’t read that book I recommended? 

While you say people are screaming bubble until blood pops out of their ears, have you been reading comments here and everywhere else about cryptos from people putting money in? I’m not talking about the bubble yelling crowd, I’m talking about the investors. & sorry to single this one out jhib, there are dozens others on this board alone that can be used as examples.

I’m not discussing the merits of crypto or anything else in this post, I’m looking at the behavior itself in a vacuum. This is the euphoria/mania/FOMO stage - these people are racing in to grab the hot potato. Meanwhile, the smart money has already made huge gains!

Read the quotes in the last 24 hours here alone - everyone has to buy today or they’ll be missing out on 500% gains in the next few weeks or months... Do you think that’s smart or normal investing? I think it’s certainly possible that there is an asset class for cryptos, but before we get there, you’re going to see an explosive crash. My real hope is that crash slightly causes some panic selling for real markets, would be a buying opportunity IMO.

Just an opinion from some idiot watching irrational behavior. 

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4 minutes ago, jhib said:

So all I can figure out is that it has to do with NY state.  Basically sounds like the only things I can use are Coinbase and Ripple, as they're the only two currently with a BitLicense?

So basically it sounds like I can't buy BAT until Coinbase adds it, at which point it'll be at a much higher price?  Do I have this right?  If so, this sucks big time.  I would think there's got to be a way New Yorkers are getting around it, but this is really annoying to try to figure out.

Wow, what a draconian law.  Apparently the architect of that law was just hired by Ripple.  

I wonder if you could purchase some eth on Coinbase, get on a proxy, send it to a Bittrex wallet, then exchange it for BAT?  Are these exchanges blocked in NY too?  

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22 minutes ago, fantasycurse42 said:

@Peyton Marino

I assume you didn’t read that book I recommended? 

While you say people are screaming bubble until blood pops out of their ears, have you been reading comments here and everywhere else about cryptos from people putting money in? I’m not talking about the bubble yelling crowd, I’m talking about the investors. & sorry to single this one out jhib, there are dozens others on this board alone that can be used as examples.

I’m not discussing the merits of crypto or anything else in this post, I’m looking at the behavior itself in a vacuum. This is the euphoria/mania/FOMO stage - these people are racing in to grab the hot potato. Meanwhile, the smart money has already made huge gains!

Read the quotes in the last 24 hours here alone - everyone has to buy today or they’ll be missing out on 500% gains in the next few weeks or months... Do you think that’s smart or normal investing? I think it’s certainly possible that there is an asset class for cryptos, but before we get there, you’re going to see an explosive crash. My real hope is that crash slightly causes some panic selling for real markets, would be a buying opportunity IMO.

Just an opinion from some idiot watching irrational behavior. 

No offense taken.  Just trying to learn a bit in here.

This isn't serious investing for me.  More entertainment purposes only. (which may just help prove your point)

Anyway, do you think icon's post above was irrational? Where's the break in the logic?

Quote

I think my goal is to get into positions with coins I think coinbase will pick up, and hope for a spike, then diversify some from there.

 

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6 minutes ago, jhib said:

No offense taken.  Just trying to learn a bit in here.

This isn't serious investing for me.  More entertainment purposes only. (which may just help prove your point)

Anyway, do you think icon's post above was irrational? Where's the break in the logic?

 

Yes, irrational in a sense of investing, he’s throwing darts and hoping for spikes. In no way is that sound investing. IIRC he bought like $700 worth of this ####, my assumption is he’s prepared to lose the capital and hoping for a lotto ticket. Feels like a lot of people chasing lotto tickets. Everyone coming in for $500, $1k, $2k, $5k, $10k etc... for every couple of people like the example above, there’s someone out there coming with everything they have - sadly, when this crashes, you’ll have some severely depressed investors.

For the lotto ticket guys like I presume we have in this thread and others, just a bunch of dollars floating in here and there across the board donating to those that have already made real money - will it continue? Probably, but at some point it will be the ugliest thing you’ve ever seen.

It’s basically an unregulated penny stock market... You seen the movie Boiler Room or Wolf of Wall Street? This is the 2017 version IRL. 

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Agreed 100% with FC42 FWIW. I have $500 in ETH, and $100 in BAT. For me this is very much more gambling than true investing/currency.

I am new to this but I agree with the logic that any coin that gets upgraded to the CoinBase Big Leagues will thrive, as that is where a ton of square money is entering. Joe six pack doesn’t want to have 38 accounts to bounce various coins around (some indexed to Usd, some to BTC). It’s confusing. Square money wants easy and “safe”. Coinbase is that. 

I do think there will be a large pullback, then some consolidation as we go from 1 coin to 20 coins to 2000 coins to 10,000 coins back to a handful of big coins and a bushel or three of altcoin that survive the purge. Then things might stabilize and follow a more realistic pattern. 

Again, pure guessing on my end. But that’s my best guess. 

Edited by [icon]
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1 hour ago, fantasycurse42 said:

@Peyton Marino

I assume you didn’t read that book I recommended? 

While you say people are screaming bubble until blood pops out of their ears, have you been reading comments here and everywhere else about cryptos from people putting money in? I’m not talking about the bubble yelling crowd, I’m talking about the investors. & sorry to single this one out jhib, there are dozens others on this board alone that can be used as examples.

I’m not discussing the merits of crypto or anything else in this post, I’m looking at the behavior itself in a vacuum. This is the euphoria/mania/FOMO stage - these people are racing in to grab the hot potato. Meanwhile, the smart money has already made huge gains!

Read the quotes in the last 24 hours here alone - everyone has to buy today or they’ll be missing out on 500% gains in the next few weeks or months... Do you think that’s smart or normal investing? I think it’s certainly possible that there is an asset class for cryptos, but before we get there, you’re going to see an explosive crash. My real hope is that crash slightly causes some panic selling for real markets, would be a buying opportunity IMO.

Just an opinion from some idiot watching irrational behavior. 

why wouldn't you buy at least 1 coin in case you're wrong? I sold some a few months ago to get out my initial money because i have no idea what is going to happen.  You should buy one for the same reason.  Who the hell knows where this is going.

The risk/reward was obv better when it was in the 4 digits, but still worth rolling the dice on if 15k doesn't mean much to you.

If you're right and it's a scam you lose 15k'ish.  If you're wrong you make 3-?x's that.

If you were 90% confident it was going to crash you would be shorting it. 

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I bought 2k worth of LTC at ~50 each back in October. I was willing to lose it all but FUD got to me and I pulled out everything except my original buy in when LTC hit 250. Ever since then I've been thinking that there would have to be some type of correction to the overall market that would give me an opportunity to jump back in but obviously that hasn't happened. What I should have done was go deeper and diversify instead of pulling out. And now it's always some type of FUD, whether it has merit or not, that stops me from jumping back in. Right now it's what effect the CME futures will have when they open on the 18th. I've seen people make cases that it will behave like Gold when futures were launched in the 70's, i.e steep decline before surging once again. Really I have no ####### clue what's going to happen but the FOMO is real. I don't want to buy into something that's sitting at a ATH and I also don't want to buy into alts that I believe are tethered to the thing that I'm expecting to pull back.

And as I type this BTC just cracked 18,000 on gdax. 

 

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6 minutes ago, SameSongNDance said:

I bought 2k worth of LTC at ~50 each back in October. I was willing to lose it all but FUD got to me and I pulled out everything except my original buy in when LTC hit 250. Ever since then I've been thinking that there would have to be some type of correction to the overall market that would give me an opportunity to jump back in but obviously that hasn't happened. What I should have done was go deeper and diversify instead of pulling out. And now it's always some type of FUD, whether it has merit or not, that stops me from jumping back in. Right now it's what effect the CME futures will have when they open on the 18th. I've seen people make cases that it will behave like Gold when futures were launched in the 70's, i.e steep decline before surging once again. Really I have no ####### clue what's going to happen but the FOMO is real. I don't want to buy into something that's sitting at a ATH and I also don't want to buy into alts that I believe are tethered to the thing that I'm expecting to pull back.

And as I type this BTC just cracked 18,000 on gdax. 

 

Nobody does.  Anyone who says they know for sure what is going to happen is a fool.

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I feel kind of bad about people having problems with Uphold.  Brave partnered with them for the administration of their browser-based BAT wallets, that's really the only reason I ever heard of them.  They verified me in about a day though and I've honestly never had a problem with them.  I like the platform a lot and fees are demonstrably lower than other exchanges.  I agree with Peyton as far as Coinbase getting away with some pretty outrageous fees on the strength of being the main point of entry to exchanges.  

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9 hours ago, fantasycurse42 said:

@Peyton Marino

I assume you didn’t read that book I recommended? 

While you say people are screaming bubble until blood pops out of their ears, have you been reading comments here and everywhere else about cryptos from people putting money in? I’m not talking about the bubble yelling crowd, I’m talking about the investors. & sorry to single this one out jhib, there are dozens others on this board alone that can be used as examples.

I’m not discussing the merits of crypto or anything else in this post, I’m looking at the behavior itself in a vacuum. This is the euphoria/mania/FOMO stage - these people are racing in to grab the hot potato. Meanwhile, the smart money has already made huge gains!

Read the quotes in the last 24 hours here alone - everyone has to buy today or they’ll be missing out on 500% gains in the next few weeks or months... Do you think that’s smart or normal investing? I think it’s certainly possible that there is an asset class for cryptos, but before we get there, you’re going to see an explosive crash. My real hope is that crash slightly causes some panic selling for real markets, would be a buying opportunity IMO.

Just an opinion from some idiot watching irrational behavior. 

Did you read my post addressing all of this? It's a fallacy that irrational behavior necessitates a bubble. It's the other way around. I'll grant you that most of the alt coins are worthless and will surely crash at some point, but the top coins in the space are insanely valuable disruptors that have not sniffed their true fair value market caps yet. It can be the case that there is irrational behavior present and the underlying assets are still insanely undervalued - try seriously to wrap your mind around this, and think about why a bubble may actually be a non sequitur to irrational behavior in the context of an innovative and disruptive technology.

Again, that book sounds interesting as a student of history, but it's not going to help you make money in investing.

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Interesting to see / read blockchain tech popping up in various other industrious. 

https://www.freightwaves.com/news/2017/12/7/so-do-you-own-any-bitcoin

Despite the volatility that the world is witnessing as cryptocurrency prices whiplash up and down literally hundreds and thousands of dollars per minute (which traders love but truckers hate), blockchain technology promises to provide more stability and transparency to the entire logistics process.

From lane pricing to record of ownership to payments, smart contracts that will be tracked on the blockchain promise to immensely reduce variability and enhance visibility in the supply chain. Production, shipping, warehousing, and delivery will be clearly presented for all blockchain participants to see.

Edited by JerseyToughGuys

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39 minutes ago, JerseyToughGuys said:

Interesting to see / read blockchain tech popping up in various other industrious. 

https://www.freightwaves.com/news/2017/12/7/so-do-you-own-any-bitcoin

Despite the volatility that the world is witnessing as cryptocurrency prices whiplash up and down literally hundreds and thousands of dollars per minute (which traders love but truckers hate), blockchain technology promises to provide more stability and transparency to the entire logistics process.

Project Oaken looks like it could replace much of the freight system and civil infrastructure itself.  Not bad for 'magic internet money'.  

https://youtu.be/lKJrTeNQGZE

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1 hour ago, Peyton Marino said:

Did you read my post addressing all of this? It's a fallacy that irrational behavior necessitates a bubble. It's the other way around. I'll grant you that most of the alt coins are worthless and will surely crash at some point, but the top coins in the space are insanely valuable disruptors that have not sniffed their true fair value market caps yet. It can be the case that there is irrational behavior present and the underlying assets are still insanely undervalued - try seriously to wrap your mind around this, and think about why a bubble may actually be a non sequitur to irrational behavior in the context of an innovative and disruptive technology.

Again, that book sounds interesting as a student of history, but it's not going to help you make money in investing.

Did not see the post, where is it? 

The original book is 175 years old and I’d bet it holds up to time much better than anything being written today will in the year 2200. It’s not an “I make investments bc of this book,” just another piece of the puzzle when making a decision.

We’re both high conviction here, I just think the whole thing is going to implode before being regulated, redone, & rebuilt. I look at Bitcoin as MySpace; it’s being manipulated, it’s garbage and only so much time until it sits on zero.

The tulip comparison (which I haven’t made once) is irritating - I like to compare it to the tech bubble much more... Everyone knew the Internet was going to be big, so stupid money just came flying in skyrocketing prices on any/all concepts. It took 15 years for that bubble to recover to the peak 2000 price. While I understand the validity of the underlying assets, it takes infrastructure and acceptance to reach values, we’re nowhere close to that, yet the price action would indicate I’m walking into a pizzeria with my family and paying with 100k Satoshi and the world is fine with that.

17 years after the tech bubble burst, there are new leaders of the tech rally (FANG), only one was public at that time (which made a huge pivot to their business anyways after the crash), & two didn’t even exist. 

Could there be an Amazon in crypto right now? Absolutely... but for every Amazon you’re going to have 20 boo.coms or Kozmos. A lot of these companies had good ideas, ideas that are being executed on today, but couldn’t be 17 years ago, so they collapsed. You think if there was a reddit 17 years ago there wouldn’t have been people screaming at the top of their lungs about the validity of Pets.com or Infospace? Obviously it would be the exact same thing; remove etoys.com and insert “whatever coin” here and you’re in 2017.

To me, this is history repeating itself, as it so often does. I might throw a few dollars in when I see people laid out on the street. Until then, I’m just eagerly awaiting what I’m convinced is coming.

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6 hours ago, ren hoek said:

I feel kind of bad about people having problems with Uphold.  Brave partnered with them for the administration of their browser-based BAT wallets, that's really the only reason I ever heard of them.  They verified me in about a day though and I've honestly never had a problem with them.  I like the platform a lot and fees are demonstrably lower than other exchanges.  I agree with Peyton as far as Coinbase getting away with some pretty outrageous fees on the strength of being the main point of entry to exchanges.  

I was able to get my issue resolved, now just waiting for the funds transfer to complete, then I should be good to go. 

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28 minutes ago, Rhythmdoctor said:

BTC at all-time highs of $18,900 right now, ETH sitting at $700.

Is it too late to buy ETH or is it still a value at this price?

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