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Thread: Bitcoin

  1. #901
    Master Dave+63's Avatar
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    Quote Originally Posted by Omegamanic View Post
    Iím stupid enough to have more than 1% of my net worth in crypto
    Oops!

    Sorry.

  2. #902
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    Iím in for about 0.25% so not enough to make me rich or poor but Iím enjoying it


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  3. #903
    Quote Originally Posted by Dave+63 View Post
    Oops!

    Sorry.
    Thatís ok, Iím not sorry. Iíll be delighted if it shows any overall growth, and itís hardly the end of the world if I were to lose the lot.
    It's just a matter of time...

  4. #904
    Grand Master Neil.C's Avatar
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    I see the Venezuelan government is looking to launch a new coin, the Petro.

    Venezuelan government with its wonderful track record on finance - what could possibly go wrong?
    Cheers,
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  5. #905
    Quote Originally Posted by stubo View Post
    Good evening folks, I've just been catching up on the past few hundred posts and enjoying the chat. Can I ask how much of your total net worth you guys are playing with at this, is it more than 1%? And if you're out there with more than £10k, could you not do it the old fashioned way, a 20%IRR on £10k, compounded over 25 years, is £1m? It's not sexy or exciting, but I'm sure the Grandkids would thank you for it.
    Why would anyone answer a question like that on a public forum?

    And as for 20% return every year for 25 years ... I’ll have some of what you are smoking thanks!

  6. #906
    Grand Master 100thmonkey's Avatar
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    Quote Originally Posted by Neil.C View Post
    I see the Venezuelan government is looking to launch a new coin, the Petro.

    Venezuelan government with its wonderful track record on finance - what could possibly go wrong?
    Yes they have a bad record using banks!


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  7. #907
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    Bitcoin

    Quote Originally Posted by Omegamanic View Post
    Thatís ok, Iím not sorry. Iíll be delighted if it shows any overall growth, and itís hardly the end of the world if I were to lose the lot.
    No, I meant sorry for suggesting you were stupid.
    Last edited by Dave+63; 22nd February 2018 at 13:35.

  8. #908
    apparently Tron is meant to do well, heard from a friend that is into his cryptos,

  9. #909
    Craftsman davida's Avatar
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    Quote Originally Posted by NikGixer750 View Post
    apparently Tron is meant to do well, heard from a friend that is into his cryptos,
    I hold a few thousand coins. Hopefully it'll do well long term.

  10. #910
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    Last edited by Hewjardon; 23rd February 2018 at 09:21. Reason: Tax

  11. #911
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    Quote Originally Posted by Omegamanic View Post
    ? You bought at $21,000?
    Not far of that to be honest


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  12. #912
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    Quote Originally Posted by charlies View Post
    Not far of that to be honest


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    Not surprised.. i mean, there is literally a buyer for every transaction. You only know it was high with hindsight. Hope it goes back up to its peak one day.. =)

  13. #913
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    Quote Originally Posted by stubo View Post
    I've just joined and need to get my post count up to reach the sales corner of the watch forum so not looking to get blacklisted
    Usually the kiss of death round these parts............
    When you look long into an abyss, the abyss looks long into you.........

  14. #914
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    Re the ETC/Callisto fork/airdrop I just want to check I get the free shares. I only have a few ETC but may as well get any freebie I can and I read that the airdrop could happen anytime from tomorrow.

    I have the ETC in my binance account, so do I need to tranfer these out to MyEtherWallet (or similar) to be entitled to the Callisto airdrop, or can I just leave them sitting in binance.

    I've never been involved with a fork or airdrop before so it's new to me.

  15. #915
    Craftsman scucivolo's Avatar
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    https://youtu.be/DoqiSGv1WdI

    Weíre all doomed
    The end is nigh

    XD


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  16. #916
    Jesus told me to buy Bitcoin!
    It's just a matter of time...

  17. #917
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    Quote Originally Posted by Omegamanic View Post
    Jesus told me to buy Bitcoin!
    Aye but he got hammered with tax.




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  18. #918
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    Quote Originally Posted by jimyu View Post
    Re the ETC/Callisto fork/airdrop I just want to check I get the free shares. I only have a few ETC but may as well get any freebie I can and I read that the airdrop could happen anytime from tomorrow.

    I have the ETC in my binance account, so do I need to tranfer these out to MyEtherWallet (or similar) to be entitled to the Callisto airdrop, or can I just leave them sitting in binance.

    I've never been involved with a fork or airdrop before so it's new to me.
    I think to benefit from a fork you need them in your own wallet, coinbase were holding my ETH but they were effectively in their OWN wallet, whick means they benefit from a fork and is upto them to pass the new tokens to you or not i guess. I recently moved them to MyEtherWallet once I realised the downsides.

  19. #919
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    Quote Originally Posted by -Ally- View Post
    0%. Iím not brave enough. Same as I wouldnít trust myself to pick individual shares.

    I do enjoy following the hysteria though.
    Almost the same. I was brave to out 90 quid at some stage, but that was it....still there.

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  20. #920
    Master Neilw3030's Avatar
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    First dipped my toe in the water early Jan when price had dipped but still high, then again when low in Feb, so at the moment Iím a couple £s up, tiny investment really.
    Look at the trend numerous times a day and will make another small purchase when I see it dip some more.

  21. #921
    Quote Originally Posted by T1ckT0ck View Post
    I think to benefit from a fork you need them in your own wallet, coinbase were holding my ETH but they were effectively in their OWN wallet, whick means they benefit from a fork and is upto them to pass the new tokens to you or not i guess. I recently moved them to MyEtherWallet once I realised the downsides.
    It will depend what Binance's policy on the fork is - some exchanges support them and some don't. You are certainly safer having them in your own wallet; but if the exchange will support the fork in good time its certainly easier that way.

  22. #922
    Quote Originally Posted by tertius View Post
    It will depend what Binance's policy on the fork is - some exchanges support them and some don't. You are certainly safer having them in your own wallet; but if the exchange will support the fork in good time its certainly easier that way.
    Iím on Coinbase,if I move my coins from ETH wallet to my wallet can the price still go up or down or is it fixed at what it was when you moved them ,all new to me this


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  23. #923
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    You own the coin so itís worth whatever the coin is worth when you sell it regardless which wallet or exchange you keep it on


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  24. #924
    Quote Originally Posted by jimyu View Post
    You own the coin so itís worth whatever the coin is worth when you sell it regardless which wallet or exchange you keep it on


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    Is there any benefit moving it to your wallet,Iíve bought some ETH and litecoin after reading this thread and after a friend told me about it ,but I ainít got a clue what Iím doing


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  25. #925
    Quote Originally Posted by mk1974 View Post
    Is there any benefit moving it to your wallet,Iíve bought some ETH and litecoin after reading this thread and after a friend told me about it ,but I ainít got a clue what Iím doing


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    If it is in your wallet - ie a wallet where YOU control the private keys, then it is truly yours. If you keep it in an online exchange you are at the mercy of the exchange, which may be hacked, may not give you any forked coins (if the coin forks), may restrict access/withdrawal, or may just run off with your coins.

    Coinbase is a fairly reputable exchange so the chances of something really bad happening are low, but the risk is there. Moreover, they tend to be very slow to award forked coins, if they do it at all.

  26. #926
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    I got into bitcoin near the start and had over 1000btc in my wallet at one point which I cashed out for a massive profit for £5k. How I wish I had held on to half.

    View all crypto as very long term investments, and if you do decide to cash out don't do all of it as you may live to regret it. As I have.

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  27. #927
    Quote Originally Posted by tertius View Post
    If it is in your wallet - ie a wallet where YOU control the private keys, then it is truly yours. If you keep it in an online exchange you are at the mercy of the exchange, which may be hacked, may not give you any forked coins (if the coin forks), may restrict access/withdrawal, or may just run off with your coins.
    Even in a hardware wallet (like Ledger) you rely on their support for any forks.

  28. #928
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    Quote Originally Posted by Kingstepper View Post
    Even in a hardware wallet (like Ledger) you rely on their support for any forks.
    Exactly. Paper wallets are the only 100% option but you need to have access to a brand new installation on a machine which has never been connected to the internet to be absolutely secure.

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  29. #929
    Quote Originally Posted by bingobadgo View Post
    Exactly. Paper wallets are the only 100% option but you need to have access to a brand new installation on a machine which has never been connected to the internet to be absolutely secure.

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    Can you securely deal with any forks yourself with a paper wallet?

  30. #930
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    Quote Originally Posted by Kingstepper View Post
    Can you securely deal with any forks yourself with a paper wallet?
    Yes. AFAIK it would require moving your initial coins to a second wallet before using the first wallet to claim the forked coins. I trust no online wallets since I was sitting in a pub and received a text confirming my transfer of 1.9 BTC from my online blockchain.info wallet. I immediately contacted customer service but they refused to help me. I still to this day do not know how anybody pulled that off without having server side access.

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  31. #931
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    Quote Originally Posted by bingobadgo View Post
    I got into bitcoin near the start and had over 1000btc in my wallet at one point which I cashed out for a massive profit for £5k. How I wish I had held on to half.

    View all crypto as very long term investments, and if you do decide to cash out don't do all of it as you may live to regret it. As I have.

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    Oh man that was an unfortunate decision.

  32. #932
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    In hindsight yes it was. I was well pleased at the time though.

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  33. #933
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    Quote Originally Posted by bingobadgo View Post
    In hindsight yes it was. I was well pleased at the time though.

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    Exactly, you realised a good return, what happened after could have gone either way so you made a prudent choice.

    I doubt a similar roi will be achieved by myself or others so good on you.

  34. #934
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    Quote Originally Posted by stubo View Post
    Ha. Thanks for the honest replies. Guys, I can't do that. I've just joined and need to get my post count up to reach the sales corner of the watch forum so not looking to get blacklisted!

    Please don't take this the wrong way but you can get a phenomenal education on Amazon reading second hand business books for a few pound a pop. Literally a library full for a hundred quid. It might be a better investment than Crypto. But if not, and it all goes pear shaped, then you'll have learned a lot. There's a great Podcast from Tim Ferris on how to turn failure into success - https://tim.blog/2017/07/26/how-to-t...-into-success/. Might be one to keep bookmarked :-)

    Best of luck, but please don't get carried away.
    I think you may have misjudged your audience...

    As for crypto, as I said I would, I've stuck it all into Ada and taken advantage of their rather nice wallet to stop me buggering around for a while. I've definitely got at least an order of magnitude more tied up in unjustifiable watches.
    Last edited by M4tt; 3rd March 2018 at 21:38.

  35. #935
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    Should crypto investors be worried by the G20 regulation talk next week and Google's decision to ban all cryptocurrency related advertising?

    Everything certainly seems unstable at the moment to me.

  36. #936
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    Regulation is good. Far too many con-artists creating ICO's or similar to get rich quick themselves. And lots of other terrible ponzi, snake oil type schemes based around crypto. Google and FB just actually doing the right thing for once.

    Think it's still a long term good bet.

  37. #937
    No they should be reassured. If you're holding legit cryptos they will become the asset of choice...if you've thrown money at random tokens, well, you sort a have it coming.

    The advertising ban I also agree with, it will weed out the chancers. Again, good for the overall market medium term.

  38. #938
    Grand Master 100thmonkey's Avatar
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    Bitcoin

    Itís been a little turbulent but the regulation is very welcome as it strengthens the currency. The banks know itís coming so best to embrace it. Slight blip then to the moon I predict depending where you got on the rollercoaster. If nothing else itís been good fun


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    Last edited by 100thmonkey; 15th March 2018 at 09:37.
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  39. #939
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    There's also been the news of Barclays allowing the direct funding of Coinbase accounts in the UK. That will help as it will also be linked to the faster payments system in due course.

  40. #940
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    I think it is all good news. Crypto is the future at least for online payments and regulation can only make things safer for consumers.

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  41. #941
    I am not sure it really is the future, its far to complicated. How many normal consumers are going to make a revoult account change money into Euros, then linking the account to Coinbase. Buying BTC as a base and then transferring to other platforms to buy other coins. Having a external wallet etc

    Its a good investment to make some quick money if it booms again but I cant see the average person doing all that to buy stuff anytime soon.

  42. #942
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    Quote Originally Posted by bingobadgo View Post
    Yes. AFAIK it would require moving your initial coins to a second wallet before using the first wallet to claim the forked coins. I trust no online wallets since I was sitting in a pub and received a text confirming my transfer of 1.9 BTC from my online blockchain.info wallet. I immediately contacted customer service but they refused to help me. I still to this day do not know how anybody pulled that off without having server side access.

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    And therein lies the fundamental issue. There are obviously a number of members here who are super IT literate and can take an educated approach as to how to best minimise the threat of cyber crime. But the masses will not adopt until they feel it is safe, getting a text to say that the "asset" has disappeared is not a palatable risk, regardless of potential rewards. With online banking you not only have regulation, but a provider that generally reimburses online fraud losses. With Apple pay you get a "trusted" provider who you feel has robust systems. Still a long way to go on that in crypto land but good luck to all of you who play.

  43. #943
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    Quote Originally Posted by NikGixer750 View Post
    I am not sure it really is the future, its far to complicated. How many normal consumers are going to make a revoult account change money into Euros, then linking the account to Coinbase. Buying BTC as a base and then transferring to other platforms to buy other coins. Having a external wallet etc

    Its a good investment to make some quick money if it booms again but I cant see the average person doing all that to buy stuff anytime soon.
    I am not saying Bitcoin is the future, far from it as confirmations take forever and the transaction fee is high, but Ripple for example is already being looked at by Crťdit Agricole, Amex, Moneygram and others.

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  44. #944
    Grand Master Neil.C's Avatar
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    Quote Originally Posted by bingobadgo View Post
    I think it is all good news. Crypto is the future at least for online payments and regulation can only make things safer for consumers.

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    I don't think it is the future at all, there is no problem with what we have now for online payments including failsafes operated by the big banks which you won't get with crypto.

    Crypto IMO has been a great gamble that has paid off for some early adopters although some people late to the party have found they have lost a packet.

    It is really like any other investment that relies totally on investor sentiment which is why you will find so many coin owners hyping to the max to get more buyers which in turn increases the value of their investment.

    If it ever comes into the mainstream which personally I really doubt, with regulation there would be no more price yo-yoing and thrills so every one would soon lose interest.
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  45. #945
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    I was more thinking about the underlying technology rather than the various coins on offer at the moment. Distributed ledger technology really does have the potential to massively improve a whole range of transactions currently undertaken by traditional means.

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  46. #946
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    Quote Originally Posted by bingobadgo View Post
    I was more thinking about the underlying technology rather than the various coins on offer at the moment. Distributed ledger technology really does have the potential to massively improve a whole range of transactions currently undertaken by traditional means.

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    I would agree with that, for too long the banks have had it good, fees left right and centre, 5 day cheque clearing, alternative fast fee free transactions will have an appeal, I would guess the banks could respond accordingly though.
    It will take a few generations, but Im sure there will be big changes on how we use money in the near future - global 'credits' ?
    Cheers..
    Jase

  47. #947
    Quote Originally Posted by bingobadgo View Post
    I was more thinking about the underlying technology rather than the various coins on offer at the moment. Distributed ledger technology really does have the potential to massively improve a whole range of transactions currently undertaken by traditional means.

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    explain in simple terms for a simple guy (albeit one who works in a sector where large amounts of money are moved on a daily basis) what "distributed ledger tech" is and how it can improve things

    currently I have systems with government backed banks that at zero costs allow me to transfer in minutes sums up to £100k and sums over £100k guaranteed same day for £24

    I just don't buy this "underlying tech" "blockchain" stuff. Was badly bitten in the Tech shares boom and bust and it all smells the same to me

  48. #948
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    I think the whole Blockchain ethos means not needing to have a bank or central government in charge. The trust/backing is due to distributed immutable ledger.

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  49. #949
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    Sort for being lazy but the article linked below has a few useful insights:

    https://www.coindesk.com/information...s-blockchains/

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  50. #950
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    Quote Originally Posted by ryanb741 View Post
    Also worth following twitter groups comprised of Virtual Currency traders. Southpaw Whale Club is one Ė they even said this AM they were going to push the BTC price up to $7200 with a concerted effort from their network and they did. Will now plummet like a dart probably. But that was useful trading info to follow the trawler

    https://twitter.com/spwhaleclub/stat...18339550547970
    See they have had their account suspended

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