Bitcoins (and other crypto currencies)

[adamlstr]

Well i'm glad I didn't sell yesterday. Nearly £8k this morning.

...and still climbing.


In Zimbabwe they were trading at $17,000

 

[Herr Flick]

...and still climbing.


In Zimbabwe they were trading at $17,000

Yeh, they've gone up (and down) £600 since midnight. Crazy.

 

[The Psychedelic Socialist]

I read an analyst piece the other day that suggested $100,000 by the end of 2018 wasn't unreasonable....

That said I just can't see this as being sustainable. Currently 0.21% of the world's energy consumption is dedicated to mining bitcoin and processing bitcoin transactions. Processing a single transaction uses 275kwh of electricity, so getting on for £30 of leccy per payment. Current transaction fees are closer to £2 so someone is taking a huge hit on electricity costs in the interest of 'speculation'...

 

[alistairolsen]

Stopped procrastinating and decided to have a (small) dabble in BTC and LTC. The purchases are pending on coinbase thanks to @Sir_Dave for the referral.

I understand I shouldnt keep them here as it's not secure? What's next?

@Herr Flick did you find a reasonably swift mechanism for selling them? No good setting price alerts if it takes 3 days to move them on!

Cheers

 

[The Psychedelic Socialist]

Stopped procrastinating and decided to have a (small) dabble in BTC and LTC. The purchases are pending on coinbase thanks to @Sir_Dave for the referral.

I understand I shouldnt keep them here as it's not secure? What's next?

@Herr Flick did you find a reasonably swift mechanism for selling them? No good setting price alerts if it takes 3 days to move them on!

Cheers

I've left my money in Coinbase as I figure it's probably about as secure as anything else (including me looking after my own wallet).

Taking money out by moving coins from Coinbase to localbitcoin and then into my bank account took about 3hrs in total.

 

[Sir_Dave]

Stopped procrastinating and decided to have a (small) dabble in BTC and LTC. The purchases are pending on coinbase thanks to @Sir_Dave for the referral.

Awesome work!! I look forwards to receiving my free monies :up:
If anyone else wants a referral URL, just send me a PM.
I've binned off Trading212 today, they've increased the margin requirement for Bitcoin from 10% to 90% overnight, closing all my positions, costing me £££'s. So they can go f*ck themselves.

 

[Addicted]

I feel a little sick with how little BTC I have compared to when I first started the thread... xD

 

[Chapppers11]

What are we speculating in here regarding BTC and ETH?

From what I’ve made of everything recently, there’s a lot of ‘new money’ being invested, literally from being talked about over the thanksgiving dinner table.

I’m going to call a steady rise until early January and I think it’ll correct downwards by quite a bit.

 

[Addicted]

What are we speculating in here regarding BTC and ETH?

From what I’ve made of everything recently, there’s a lot of ‘new money’ being invested, literally from being talked about over the thanksgiving dinner table.

I’m going to call a steady rise until early January and I think it’ll correct downwards by quite a bit.

I think we'll see 15k end of year, followed by drop to 10k, and back up to 15k pretty swiftly and then the moon.

 

[adamlstr]

15:10 £ 8,478
15:20 £ 7,939
15:30 £ 8,027

Falls off a small cliff then climbs again, volatile stuff this.

 

[rctempire]

Very volitile today. I'm looking into a new miner now. Hmm what to get.

 

[Chapppers11]

I think we'll see 15k end of year, followed by drop to 10k, and back up to 15k pretty swiftly and then the moon.

Yea I think you’re about right, no doubt something will throw some spanners in along the way though.

 

[Chapppers11]

... something like Coinbase crashing ‍♂️

 

[moktabe]

Although this all goes way over my head, have to admit it is tempting.

 

[Andy_con]

im sure its been discussed many times, but 19 pages is a lot to read.

any recommendations for bitcoin brokers? got some £££ to invest

 

[Pep]

Awesome work!! I look forwards to receiving my free monies :up:
If anyone else wants a referral URL, just send me a PM.
I've binned off Trading212 today, they've increased the margin requirement for Bitcoin from 10% to 90% overnight, closing all my positions, costing me £££'s. So they can go f*ck themselves.

Could I have a link and some basic instructions?!

 

[rctempire]

Please be careful people. Just because this is a way to make "quick money" at the rate of growth. Please be careful with all financial bonds and shares will go up and down.
You have been warned.
Cliosport will accept NO responsibility for your investments, gains, losses or "referrals" which are given out.

 

[Herr Flick]

Please be careful people. Just because this is a way to make "quick money" at the rate of growth. Please be careful with all financial bonds and shares will go up and down.
You have been warned.
Cliosport will accept NO responsibility for your investments, gains, losses or "referrals" which are given out.

It's gone down a grand in 24 hours. So you're saying CS won't reimburse me?????????
What a con!!

 

[boultonn]

Starting to think cashing in all my ISAs and savings into BTC wasn't the best idea...

 

[The Psychedelic Socialist]

"Never invest in a business you cannot understand."
Warren Buffet

 

[Ay Ay Ron]

"Never invest in a business you cannot understand."
Warren Buffet

And that is why I’m out.
Haven’t got a clue what to look for or what to do. There seems like loads of options which could just dissolve overnight. I know nothing is certain with investing but this seems like a massive risk.
Guys in work keep going on about how they are going to throw loads into it. They have been saying this for months and are yet to do anything despite all the reading they are doing.

 

[R3k1355]

Can you spread bet on the crypto markets?

 

[The Psychedelic Socialist]

I'm not even convinced that the experts really have any better clue about what's going to happen than the rest of us so I don't think any right minded person should be committing money they can't afford to lose.

I mined some coins back in the day, paid off my costs and have taken out a few grand as profit.

I've left about £1,500 in my Coinbase account for fun. It's not money I ever paid in the first place so there's no loss if it disappears. I certainly wouldn't be putting any significant amount of my hard earned into it.

 

[Budgie]

I'm not even convinced that the experts really have any better clue about what's going to happen than the rest of us so I don't think any right minded person should be committing money they can't afford to lose.

I mined some coins back in the day, paid off my costs and have taken out a few grand as profit.

I've left about £1,500 in my Coinbase account for fun. It's not money I ever paid in the first place so there's no loss if it disappears. I certainly wouldn't be putting any significant amount of my hard earned into it.

Bingo. It's a gamble, not an investment. And you shouldn't ever gamble anything you can't afford to lose.

 

[Herr Flick]

Well.... It certainly is shitting itself today.

 

[The Psychedelic Socialist]

Meh, it's still up 18% on the week...

 

[Sir_Dave]

Well.... It certainly is shitting itself today.

It always corrects after a period of significant growth.
I said to colleagues it would go to $10k then drop to £8k and recover. Seems that its done that, just at $11k>$9k.
As said above, its still up 57% this month lol, so not the end of the world :laughing:

 

[R3k1355]

Part of me wonders if this growth is real or some shady people are manipulating the market.
They act and drive the price up, then ease off and the price tumbles back down.

Not sure how they do it, but I'd imagine there is a way to artificially inflate the price for short periods??

 

[rctempire]

Place lots of sell and buy orders. Only way it works really.

however there is other aspects of it.

 

[adamlstr]

Part of me wonders if this growth is real or some shady people are manipulating the market.
They act and drive the price up, then ease off and the price tumbles back down.

Not sure how they do it, but I'd imagine there is a way to artificially inflate the price for short periods??

Google the 'Hound of Hounslow', have a read..

 

[R3k1355]

Thats the guy who crashed the stock market several years ago?

Thats one of the issues with crypto, with no regulations people can quite happily pull those kinda stunts and no-one is around to stop them.

 

[Pep]

I've gone in for £250 for the hell of it.

 

[Martin.]

IOTA is now trading $2.4!

Quintupled since I first mentioned it.

 

[Budgie]

See, what i now don't get about these kind of things. Surely now these are the 'in' thing to invest in, means there must be hundreds or thousands of people inventing their own currencies and letting people invest in them?

 

[R3k1355]

IOTA is now trading $2.4!

Quintupled since I first mentioned it.

Someone I know has been raging about IOTA for a while now, how do you buy/sell that one - coinbase for it or something?

 

[R3k1355]

See, what i now don't get about these kind of things. Surely now these are the 'in' thing to invest in, means there must be hundreds or thousands of people inventing their own currencies and letting people invest in them?

Ha ha funny you should mention that.

http://www.bbc.co.uk/news/world-latin-america-42217798

Venezuelan President Nicolas Maduro has announced the creation of a new virtual currency in a bid to ease the country's economic crisis.

In a televised announcement on Sunday, Mr Maduro said the new crypto-currency would allow Venezuela "to advance in issues of monetary sovereignty, to make financial transactions and overcome the financial blockade".

"The 21st Century has arrived!" he added to cheers from supporters.
He gave no details on how, or when, the new currency would be launched.

Back a few years ago when Bitcoin first blew up loads of people launched their own version.
99% flopped as they were just "me-too" efforts, a few have caught traction - probably because they bring something new and interesting to the table??

Bitcoin is massivly flawed IMO, it's reached mythical regions of value. It's no longer any use as a currency, it's purely investment now.

 

[Addicted]

IOTA is now trading $2.4!

Quintupled since I first mentioned it.

Yeah IOTA looks great right now, need to get some more but waiting for the drop. I was a bit late onto it, but still bought at 29900 at the ETH/IOTA ratio

 

[Herr Flick]

Anyone want to buy 0.01580532 BTC?

 

[The Psychedelic Socialist]

Anyone want to buy 0.01580532 BTC?

Sorry, I was looking for 0.01580533. I'll keep looking.

Also, just realised that the Bitcoin Cash fork in August means that I've now got about £1k of Bitcoin Cash... for doing nothing... mental.

 

[Sir_Dave]

My purchase of 1 Ethereum & 5 Litecoin on Coinbase has gone from £485 to £560 since August (3 months).

And now its at £766.11 😂