Bitcoins (and other crypto currencies)

[The Psychedelic Socialist]

Is there any data on what actually supports the value of these currencies and affects their value?

I mean, the dollar, gold, oil, wheat, tulips, potatoes etc all have strong analytical data behind them that identifies what their value is and why. Does Crypto currency have anything similar?

Underpant gnomes.

We now know that phase 2 was 'Cryptocurrency'

 

[welshname]

So I've sold up on coinbase and transferred it all to xrp. Its not a lot of money, only around £150. I just think long game it'll be better.

We shall see

 

[Pep]

What exchange are you using?

I'm using Binance, no issues for me with it.

 

[AdDaMan]

So I've sold up on coinbase and transferred it all to xrp. Its not a lot of money, only around £150. I just think long game it'll be better.

We shall see

How many did that get you out of interest?

 

[welshname]

How many did that get you out of interest?

Around 50

 

[Marc.]

I bought 400 XRP earlier, for £801

 

[Herr Flick]

I bought 400 XRP earlier, for £801

That's a lot of dollar.

 

[Marc.]

That's a lot of dollar.

I’m taking a (hopefully) educated gamble. My best mate has been researching Ripple for months now, he’s already made quite a lot of money from it. He’s confident that I’ll also profit well out of it, and the estimates he’s told me about look very promising indeed.

It was a massive ballache, but I got lucky. That was via a Broker, and by the time he’d sent the coin over, I’d already broken even - given I started slightly behind due to buying from them.

 

[AdDaMan]

I’m taking a (hopefully) educated gamble. My best mate has been researching Ripple for months now, he’s already made quite a lot of money from it. He’s confident that I’ll also profit well out of it, and the estimates he’s told me about look very promising indeed.

It was a massive ballache, but I got lucky. That was via a Broker, and by the time he’d sent the coin over, I’d already broken even - given I started slightly behind due to buying from them.

Fingers crossed. I have 417 XRP. Cost me about £150 though 😅 And that was after it doubling after someone told me to buy it!

 

[Marc.]

Fingers crossed. I have 417 XRP. Cost me about £150 though 😅 And that was after it doubling after someone told me to buy it!

Lucky git! I should’ve pulled the trigger last month, it was $0.26 when I first pondered it!! Trying to forget that though, otherwise I’ll get annoyed!

 

[Herr Flick]

Lucky git! I should’ve pulled the trigger last month, it was $0.26 when I first pondered it!! Trying to forget that though, otherwise I’ll get annoyed!

I have just under 450. Bought them a few weeks ago. I hope you're right.

 

[Pep]

Not convinced in XRP, thinking of flogging mine off, a lot of people saying it's a bit of a sham and destined to fail...hmm. I've done well out of it though.

Also got a decent load of TRX, apparently a 'big' announcement due tomorrow but heard rumours it will be s**t and possibly plummet, but if it's good it should rise so a bit uncertain what to do....

 

[Marc.]

Well, my mate, who has spent far too much time reading it all, says that $20 is more than reasonable this year. Depending on the results of the consultations being held by every major Japanese bank, which are due this month, it could be even higher. People saying that $1000 is more than possible!

 

[Pep]

Well, my mate, who has spent far too much time reading it all, says that $20 is more than reasonable this year. Depending on the results of the consultations being held by every major Japanese bank, which are due this month, it could be even higher. People saying that $1000 is more than possible!

Not disputing that mate, there's always people that are for and against, all down to judgement and gut feeling I guess. I think I'll stay in as it's a relatively small amount, I bought most of mine at less than $2, and FOMO is a big thing.

 

[Marc.]

Not disputing that mate, there's always people that are for and against, all down to judgement and gut feeling I guess. I think I'll stay in as it's a relatively small amount, I bought most of mine at less than $2, and FOMO is a big thing.

Absolutely - my comment wasn’t in reply to your belief it’ll fail, like you said, everyone’s thoughts will differ. I have my concerns, but I’m happy to lose what I’ve invested, if it works, then great!

 

[Oggy997]

Gatehub are taking forever to verify me

 

[Marc.]

Gatehub are taking forever to verify me

Yeah, they’re really slow

 

[Pep]

All back on the up now I think..

 

[jonzz]

Coinbase rejected my ID, I took a photo of driving license twice and they aren’t having it, any ideas?

 

[Ex-User (19928)]

Coinbase rejected my ID, I took a photo of driving license twice and they aren’t having it, any ideas?

Turn the quality of your phone camera down. Resolution is too high for it to accept on most modern phones.

 

[Ay Ay Ron]

Coinbase rejected my ID, I took a photo of driving license twice and they aren’t having it, any ideas?

Mine got rejected 3 times.
Tried again next day and went straight through. Didn't change any settings on my camera. It could have just been busy their end.

 

[Deeg]

I’ll ask this again, as it was asked earlier and seemingly ignored, how many people have managed to buy, trade and then withdraw actual money from this.

I mean, cold hard cash that can be used in exchange for goods md services IRL?

 

[Oggy997]

I havent tried, but a guy I know just cashed out his BTC the other day....

That said, many a retailer accepts BTC now, so it's all tangible.

 

[Pep]

I’ll ask this again, as it was asked earlier and seemingly ignored, how many people have managed to buy, trade and then withdraw actual money from this.

I mean, cold hard cash that can be used in exchange for goods md services IRL?

I've withdrawn actual cash into my bank account via coinbase, so it is possible!

 

[Herr Flick]

So have I. Sold my bit coins to someone on local coins and had the money within 10 minutes.

Very easy process

 

[Breamy]

So any recommendations for someone with a few hundred quid to play with ? Not done anytl crypto currency before

 

[Marc.]

So any recommendations for someone with a few hundred quid to play with ? Not done anytl crypto currency before

Ripple

 

[Breamy]

Ripple

Any recommendations of brokers etc ?

 

[Herr Flick]

Binance, bitstamp, etoro.

 

[Marc.]

Any recommendations of brokers etc ?

I used a broker called DigiCoinz, that sent it to my GateHub wallet. I found that they were really professional - yeah, I paid about 10% extra, but there was no wait, and I bought it during a dip through the day anyway, so I’d broken even by the time I’d received the coins.

 

[Addicted]

I’ll ask this again, as it was asked earlier and seemingly ignored, how many people have managed to buy, trade and then withdraw actual money from this.

I mean, cold hard cash that can be used in exchange for goods md services IRL?

Yes.

Nobody probably replied because the answer is obvious.. I mean years ago it was more difficult, but localbitcoins has been around for years, so has Coinbase.

 

[Ex-User (60778)]

Ripple

Ripple is not decentralised which is the whole point of crypto

 

[Marc.]

Ripple is not decentralised which is the whole point of crypto

And...?

It doesn’t necessarily make it any less of an investment, does it? In fact, to me, it’s the opposite - the fact that banks are trialing their technology, and getting on board, just adds credence to their business, and will hopefully result in a larger coin price...meaning more money for me.

 

[jonzz]

Mine got rejected 3 times.
Tried again next day and went straight through. Didn't change any settings on my camera. It could have just been busy their end.

Got verified this morning!

 

[boultonn]

Glad I bought even more ethereum just before christmas, massive jump this week

 

[Martin.]

Coins are loving it recently. There is some serious cash to be made. Although people do need to bare in mind it is still a risk.

I'm getting quite obsessed with it all and have aquired quite a few different things now. It seems that no matter what you buy at the moment it all makes money.

FunFair was huge from when I first mentiond it. It was 3-4 cents then, it was trading 18 cents this weekend. That's 400+%. The world is crazy.

 

[Scrooge]

Struggling to get my money out of bitcoin. It’s pissing me off.

 

[jonzz]

Binnance and Bittrex aren't accepting new people atm. ffs. I'm getting into this at the wrong time.

 

[sbridgey]

If you’re quick binance are accepting registrations again

Feel free to use my referral

www.binance.com/?ref=18881978

 

[Ex-User (19928)]

Coins are loving it recently. There is some serious cash to be made. Although people do need to bare in mind it is still a risk.

I'm getting quite obsessed with it all and have aquired quite a few different things now. It seems that no matter what you buy at the moment it all makes money.

FunFair was huge from when I first mentiond it. It was 3-4 cents then, it was trading 18 cents this weekend. That's 400+%. The world is crazy.

Yeah a friend of mine has even started a "crypto fund" lol.

I put a bit of money in just because I'm a nerd and love the idea of decentralised currency. Don't see how we get there from where we are currently though, but there's loads of other uses for blockchain so vov.