Bitcoin/cryptocurrency thread

[Dindeleux]

On 11/19/2013 at 12:39, Ric said:

I still maintain they are a bubble. Markets regularly pick up technological ideas run with them on the market then when people find out they are not the endless money pots they stupidly believed they were, it all falls down. This is what happened during the tech crash of 2000/2001.

By all means people should get on board as their prices rise, but it's going to burst, the price is just not maintainable.

 

On 11/19/2013 at 14:42, Loki said:

Ric has covered pretty much everything I was going to say after my last post.

I do not think it is sustainable. The fact that they are "free" money to be made and this makes up the finite amount of currency that will be available is just bizarre. With the rate of inflation currently why would anyone part with bit coins?

I can only imagine that it is quite a popular fad currently and the popularity of that is driving the price up.

Not sure if either of you two still post on here but if you do are you still calling this a bubble?

 

 

 

 

On 5/29/2017 at 10:48, fanny paddery said:

Appears not

http://www.smh.com.au/technology/technology-news/i-threw-away-48-million-in-bitcoin-20170528-gwf4jz.html

I would kill myself.

 

 

 

 

On 9/28/2017 at 11:33, djchapsticks said:

Decided to take the plunge. Invested just under £1400 and got 0.42BTC. 

Going to sit on it for a few years and hopefully it will pay dividends. 

Brave man, hope it works out for you long term.  Do you plan to sell when they hit £10k each or another figure you have in your head?

Edited November 8, 2017 by Dindeleux

[djchapsticks]

4 hours ago, Dindeleux said:

 

Not sure if either of you two still post on here but if you do are you still calling this a bubble?

 

 

 

 

I would kill myself.

 

 

 

 

Brave man, hope it works out for you long term.  Do you plan to sell when they hit £10k each or another figure you have in your head?

Nothing concrete. Just keeping a keen eye on it, perhaps sit on it for a year or two and see how it develops.

I'm comfortable enough in that if I lose it, I won't ruin myself. If I gain from it though, it's a potentially very tidy little earner. At this point, I'd possibly jump off at £10k but again, that's subjective as to how well it's doing. Think the main thing to take from BTC so far in it's lifespan is that it continues to defy forecasts. I've heard the bubble chat for 4 years now and it's reared it's head again this week.

[UsedToGoToCentralPark]

For anyone who currently holds Bitcoin then you may have free Bitcoin Gold and Bitcoin Cash.

BTG was sitting at £231 today BCH £787 and BTC £4985.

[djchapsticks]

On 11/11/2017 at 18:26, UsedToGoToCentralPark said:

For anyone who currently holds Bitcoin then you may have free Bitcoin Gold and Bitcoin Cash.

BTG was sitting at £231 today BCH £787 and BTC £4985.

While that's true, the actual price of Bitcoin is taking an absolute spanking over the last few days.

[UsedToGoToCentralPark]

While that's true, the actual price of Bitcoin is taking an absolute spanking over the last few days.

10% drop isn't really a spanking.

[Al B]

It's not taking a spanking at all, it's just a correction that follows every pump.

 

*insert Kenneth WIlliams gif here*

Edited November 15, 2017 by Al B

[Ross.]

Put a few hundred quid in a few months back when it was trading around the $2k mark. Toyed with the idea of going ball deep and buying a couple but the trader I used had limits on how much you can invest without verification etc. Bought just under 0.25 of a bit coin and it is worth about 3 times what I paid for it now, so definitely regretting not looking a bit more and investing what I had considered investing.

FWIW I still see it as a bubble with no underlying worth beyond the trust people have in it, but I guess in reality that is the case for just about every currency in the world these days. I am comfortable with what I put in and if I lose it, so be it. I expect in the next year or two there will be some serious changes in the crypto world, with the traditional money industry coming into it in a big way. There are already banks looking to trial their own crypto's on an interbank basis only, if and when they release it publicly there will be huge changes in the market.

I wish I had invested when folk were telling me about it years ago, around the time this thread was created by the looks of things. I'd probably have sold out many multiples of my money ago mind you and be sitting here asking why I hadn't had more bottle, so I doubt I have lost too much in reality.

Overall I think crypto is the future of currency. The concept of a borderless currency is too strong not to take hold. Whether or not it is BitCoin that remains the main player I wouldn't want to guess.

[welshbairn]

I'd suggest the only reason the price is rising is publicity, and regrets that people didn't jump in 5 years ago. There is no intrinsic value that I can see. 

[Alex_14]

I've got Bitcoin and Ripple. MIssed the boat on Bitcoin really, but Ripple could be an earner. Worth looking in to. 

I actually had £20 of Bitcoin in April 2015 (but spent it on...stuff...). Would've been worth £1000 today! Oh well.

[Ross.]

30 minutes ago, Alex_14 said:

I've got Bitcoin and Ripple. MIssed the boat on Bitcoin really, but Ripple could be an earner. Worth looking in to. 

I actually had £20 of Bitcoin in April 2015 (but spent it on...stuff...). Would've been worth £1000 today! Oh well.

Not familiar with Ripple but I have also put a wee bit into Iota. Problem now is there are that many it's a case of flinging shite at the wall and hoping some sticks. People will likely go from one to the next to the next in the hope of hitting lucky on one.

[Alex_14]

1 minute ago, Ross. said:

Not familiar with Ripple but I have also put a wee bit into Iota. Problem now is there are that many it's a case of flinging shite at the wall and hoping some sticks. People will likely go from one to the next to the next in the hope of hitting lucky on one.

Ripple is one of the 'big 4' - i.e. Bitcoin, Litecoin, Ethereum and Ripple. It's essentially looking like it'll replace SWIFT payments in the future. The big risk is that something better and more cost-effective than Ripple comes along. See link - https://ripple.com/xrp/

I've not heard of Iota, that'll be this afternoon's reading.

[Ross.]

2 minutes ago, Alex_14 said:

Ripple is one of the 'big 4' - i.e. Bitcoin, Litecoin, Ethereum and Ripple. It's essentially looking like it'll replace SWIFT payments in the future. The big risk is that something better and more cost-effective than Ripple comes along. See link - https://ripple.com/xrp/

I've not heard of Iota, that'll be this afternoon's reading.

I like the concept behind Ripple going by what I have just read, however the likelihood is that if it became successful, it would cost hundreds of thousands of jobs in clearing and settlement positions across the finance world. I think I might stick a couple of hundred quid in when I get paid later this week.

[djchapsticks]

BTC up over £8,100 today. 

[Alex_14]

I like the concept behind Ripple going by what I have just read, however the likelihood is that if it became successful, it would cost hundreds of thousands of jobs in clearing and settlement positions across the finance world. I think I might stick a couple of hundred quid in when I get paid later this week.

Did you get ripple in the end? It’s very slowly creeping up. Bitcoin continues to smash it.

I also got Iota after researching it on your recommendation, I genuinely think it’s the future. Put in about £100 worth at $1.25 and it’s now $1.51 so long may it continue!

Once I’ve been paid I’ll be firing a bit more in to Iota.

[Ross.]

5 hours ago, Alex_14 said:

Did you get ripple in the end? It’s very slowly creeping up. Bitcoin continues to smash it.

I also got Iota after researching it on your recommendation, I genuinely think it’s the future. Put in about £100 worth at $1.25 and it’s now $1.51 so long may it continue!

Once I’ve been paid I’ll be firing a bit more in to Iota.

 

I didn’t go with Ripple, ended up buying a few thousand XLM instead. Ripple seems too close to iota in concept so I decided to go with something different in terms of approach just to spread the risk a little. I also quite like that XLM has inflation factored in over the long term. Was also considering EOS, which is fairly taking off so I maybe made a clanged there.

Between those two and Bitcoin i’ve put about 700 quid in. Currently valued at about 3x that but I don’t plan on selling anytime soon and doubtful I will invest anything else. If one of them rockets hen great, if not I am comfortable with what I will lose.

[Fuctifano]

What wallets and / or trading platforms do folk use for this? I've seen Kraken and coinbase both mentioned? 

I already invest in non capital-secure products and aware of risk profiles so was thinking of spreading a few hundred across some of these and if it goes tits up then I can afford to lose it, if not then great.

[UsedToGoToCentralPark]

I used to use Cryptsy but only had 3% of a bitcoin in there so at the time lost very little.

 

For wallets I use the full core clients but going to look at other wallets before I claim by bitcoin gold and bitcoin cash.

 

Make sure you retain your private keys when choosing a wallet.

 

 

[lionel hutz]

On 28/09/2017 at 11:33, djchapsticks said:

Decided to take the plunge. Invested just under £1400 and got 0.42BTC. 

Going to sit on it for a few years and hopefully it will pay dividends. 

This was a good decision

I invested £85 (I'm a student, I'm poor,  don't judge) on Thursday now worth £96.

Hopefully the market doesn't crash until I'm up £150 or so.

[Ross.]

22 hours ago, Fuctifano said:

What wallets and / or trading platforms do folk use for this? I've seen Kraken and coinbase both mentioned? 

I already invest in non capital-secure products and aware of risk profiles so was thinking of spreading a few hundred across some of these and if it goes tits up then I can afford to lose it, if not then great.

I'm using Bittrex and Bitfinex own wallets for my XLM and Iota. Really need to find something offline for both.

Can't remember which offline one I am using for Bitcoin. The transaction processing time on that freaks me out. I get the fear that one day it will be worth a few bob and crash in the time it takes me to get it onto my trading account and sold.

[Ross.]

On 12/3/2017 at 10:36, Alex_14 said:

I also got Iota after researching it on your recommendation, I genuinely think it’s the future. Put in about £100 worth at $1.25 and it’s now $1.51 so long may it continue!

Once I’ve been paid I’ll be firing a bit more in to Iota.

I'm wishing I had put a bit more in myself. Has doubled since your post. Now around 5 x the price when I took a punt a few months ago. With the Microsoft partnership and the data marketplace trials ongoing it looks like there could still be a fair bit to go. Providing the trials go well, this one could be a pretty groundbreaking concept. It looks less like a cryptocurrency and more an investment in the concept itself at the moment.