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On 13/02/2018 at 21:15, welshbairn said:

Panorama covered it last night. The pure madness is the colossal amount of electrical energy used to create and govern exchanges of the things, when man made global warming is supposed to be a thing. Thought it was supposed to be a hippy anarchist thing to save the planet from the man. Mine cryptocurrencies with abacuses.

Big problem is the whole proof of work idea that underpins Bitcoin. I'm not sure on the whole cryptocurrency thing, but if it does take off I'd imagine Bitcoin will be cast to the side as an early adaptor and it'll be one of the less resource intensive competitors that win out. Quite a lot of bullishness regarding the DAG currencies at the moment, although they do still have problems with needing adoption before they can be truly decentralised.

It will be interesting to see where it goes, if likes of Ripple does get adopted in a wider scale for faster payments that will be an incredibly interesting development, I can't see it happening anytime soon however. 

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4 hours ago, Netan Sansara said:

Big problem is the whole proof of work idea that underpins Bitcoin. I'm not sure on the whole cryptocurrency thing, but if it does take off I'd imagine Bitcoin will be cast to the side as an early adaptor and it'll be one of the less resource intensive competitors that win out. Quite a lot of bullishness regarding the DAG currencies at the moment, although they do still have problems with needing adoption before they can be truly decentralised.

It will be interesting to see where it goes, if likes of Ripple does get adopted in a wider scale for faster payments that will be an incredibly interesting development, I can't see it happening anytime soon however. 

I like the concept of Ripple but as I have previously mentioned, despite the many financials who are endorsing it, I struggle to see it replacing SWIFT as a means of making payments. The long term savings may potentially be huge but the initial costs of implementing it would definitely be equally as huge and I just don't see the appetite for spending a fortune to replace a system that has underpinned banking for years, is deeply embedded in systems and processes, and for all it is slow and annoying as f**k at times, is incredibly reliable.

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5 minutes ago, Ross. said:

I like the concept of Ripple but as I have previously mentioned, despite the many financials who are endorsing it, I struggle to see it replacing SWIFT as a means of making payments. The long term savings may potentially be huge but the initial costs of implementing it would definitely be equally as huge and I just don't see the appetite for spending a fortune to replace a system that has underpinned banking for years, is deeply embedded in systems and processes, and for all it is slow and annoying as f**k at times, is incredibly reliable.

Do agree with that, considering the banking industry still has a fair amount of production software written in COBAL the chances of widespread adoption of Ripple is low. The only way I can see it getting a level of adoption will be within fintech start ups, with the growth of P2P payments etc. we may see Ripple emerge not so much as a SWIFT replacement but a system that sits alongside performing a different function in a different domain.

Although the Ripple creators are heavily targeting the Visa/MasterCard crowd and big money financial transactions. I wonder if there becomes a point at which the realisable savings from the use of a faster payments system outweighs the costs of overhauling the financial system. 

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2 minutes ago, Netan Sansara said:

Do agree with that, considering the banking industry still has a fair amount of production software written in COBAL the chances of widespread adoption of Ripple is low. The only way I can see it getting a level of adoption will be within fintech start ups, with the growth of P2P payments etc. we may see Ripple emerge not so much as a SWIFT replacement but a system that sits alongside performing a different function in a different domain.

Although the Ripple creators are heavily targeting the Visa/MasterCard crowd and big money financial transactions. I wonder if there becomes a point at which the realisable savings from the use of a faster payments system outweighs the costs of overhauling the financial system. 

It will come to that point eventually but I still can't see the banks being willing to blow multiple years worth of IT/development budgets on replacing something that doesn't really need to be replaced. Unless it can pay for itself within 4/5 years, no CEO is going to sign off on it as they won't see a return while still in the job, and that is all they really care about. Who wants to let the next guy get the credit for your decisions?

Startups are their best hope, and using it parallel to SWIFT in the hope that it does eventually just phase it out. This is also supposing that SWIFT don't improve their service, though given it is heavily reliant on end users setting things up correctly I'm not sure how much more they can do.

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1 hour ago, Ross. said:

It will come to that point eventually but I still can't see the banks being willing to blow multiple years worth of IT/development budgets on replacing something that doesn't really need to be replaced. Unless it can pay for itself within 4/5 years, no CEO is going to sign off on it as they won't see a return while still in the job, and that is all they really care about. Who wants to let the next guy get the credit for your decisions?

Startups are their best hope, and using it parallel to SWIFT in the hope that it does eventually just phase it out. This is also supposing that SWIFT don't improve their service, though given it is heavily reliant on end users setting things up correctly I'm not sure how much more they can do.

Definitely, the development time on a complex system like that would be ridiculous and when you see some of the disasters banks have internally when switching smaller systems it doesn’t give you much hope at all. 

Did SWIFT and either an Australian bank or the government itself not recently announce real time payments with low transaction fees (or similar)? If that works at scale and provides the cost savings, I would imagine that could extinguish the little hope that does currently exist for ripple. 

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17 hours ago, iron mike python said:

What routes to trading do you guys use? 

Has anyone here withdrawn to FIAT?

I have accounts with Bittrex, Bitfinex and CoinCorner. Only one I have withdrawn physical cash  from was CoinCorner. They are poor if you are looking at anything other than Bitcoin though.

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On ‎07‎/‎03‎/‎2018 at 10:38, Ross. said:

I have accounts with Bittrex, Bitfinex and CoinCorner. Only one I have withdrawn physical cash  from was CoinCorner. They are poor if you are looking at anything other than Bitcoin though.

How were the fees for getting your money to those exchanges?

I have heard the best route for lowest fees is Bank (GBP) > Revolut (Euro)> Coinbase > GDAX > Buy Bitcoin/LTC/ETH with Limit Orders.  This Route would cost you minimal fees.

This guy has a good demonstration video 

My girlfriend lives in Ireland so Revolut is very useful for me to have anyway, I highly recommend it.

Once you have your crypto you can withdraw to Binance for altcoins. Many altcoins are approaching lows just now so it is a good time to buy if you believe in altcoins.

If anyone finds my information helpful you could use my Binance referral program link (below) to sign up.

https://www.binance.com/?ref=20267189

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4 minutes ago, iron mike python said:

How were the fees for getting your money to those exchanges?

I have heard the best route for lowest fees is Bank (GBP) > Revolut (Euro)> Coinbase > GDAX > Buy Bitcoin/LTC/ETH with Limit Orders.  This Route would cost you minimal fees.

This guy has a good demonstration video 

My girlfriend lives in Ireland so Revolut is very useful for me to have anyway, I highly recommend it.

Once you have your crypto you can withdraw to Binance for altcoins. Many altcoins are approaching lows just now so it is a good time to buy if you believe in altcoins.

If anyone finds my information helpful you could use my Binance referral program link (below) to sign up.

https://www.binance.com/?ref=20267189

I'll be honest, I haven't bothered looking at the fees for withdrawing from the other two. As far as CoinCorner went it cost me nothing, though I think they now charge £5 a time.

I have zero interest at this point in buying anything else. I have a little BTC, IOTA and XLM. Now a case of sitting and waiting to see where it all ends up.

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4 minutes ago, Ross. said:

I'll be honest, I haven't bothered looking at the fees for withdrawing from the other two. As far as CoinCorner went it cost me nothing, though I think they now charge £5 a time.

I have zero interest at this point in buying anything else. I have a little BTC, IOTA and XLM. Now a case of sitting and waiting to see where it all ends up.

Yeah, I'm holding BTC and XLM, haven't really made or lost too much so far.

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1 minute ago, iron mike python said:

Yeah, I'm holding BTC and XLM, haven't really made or lost too much so far.

I got lucky with XLM. Bought in at 6.3c. Should have cashed out at 85+ but had made a decision by that point that I was leaving everything as it is for the next 18 months.

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put about 310 in overall and sittng at 350. Thinking I want to just take my money to be honest but struggling to find a way to do so. Suggestions? 

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On ‎03‎/‎05‎/‎2018 at 23:32, Tartan Dave said:

put about 310 in overall and sittng at 350. Thinking I want to just take my money to be honest but struggling to find a way to do so. Suggestions? 

I would suggest that you don't though because if you look at the charts it is setting up to be a similar year to last. Then you can get out at the next peak.

Ethereum is looking like your safest store of money though. 

Personally I am all in on ChainLink, if anyone asks me why then I am happy to answer questions. 

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On 10/05/2018 at 15:32, iron mike python said:

I would suggest that you don't though because if you look at the charts it is setting up to be a similar year to last. Then you can get out at the next peak.

 

Finally got round to doing this, thanks for showing me! A quick look online and I've no idea where Bitcoin is eaded, you have any thoughts? Seem to know your stuff

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On 11/8/2013 at 07:31, Killiesquirrel said:

Aren't these just for the illegal 'black markets' online? Could be wrong.

That is exactly my worries about Bitcoins. 

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A friend of mine has sent me an "invite" to sign up to something called "Initiative Q". Seemingly the guys who started PayPal have now started this Bitcoin like payment method called "Q's". Signing up gets you some free Q's, which they say could end up at the prices Bitcoin reached. I have no idea about any of this stuff, but am I worth signing up to this bullshit for free just in case it takes off or is it in fact one huge scam that I'd be better off avoiding?

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52 minutes ago, The Moonster said:

A friend of mine has sent me an "invite" to sign up to something called "Initiative Q". Seemingly the guys who started PayPal have now started this Bitcoin like payment method called "Q's". Signing up gets you some free Q's, which they say could end up at the prices Bitcoin reached. I have no idea about any of this stuff, but am I worth signing up to this bullshit for free just in case it takes off or is it in fact one huge scam that I'd be better off avoiding?

Send me an invite.

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