Reply With QuoteQuick question re Kucoin - do you need to be verified to be able to start trading/depositing/withdrawing? Or is it like Binance where you can trade up to a certain limit with the basic account set-up?Originally Posted by ryanb741
Thanks
I am still very sceptical of crypto currencies. Their value is solely based on market confidence. It is not as if when you buy an Ether or a Bitcoin you own any of the technology behind them, like you would with a share... If, for example, governments start to crack down because they don't like losing control of currency then they will lose all value overnight and the only people with anything left will be the owners of the technology.
I also believe that governments are likely to regulate (at the very least) the use of crypto currencies once they are adopted by financial institutions in a bigger way because they can't afford to lose control of one of the most effective tools they have to control economies. This doesn't even consider the more dodgy uses of crypo currencies that governments will also want to limit...
Quick question re Kucoin - do you need to be verified to be able to start trading/depositing/withdrawing? Or is it like Binance where you can trade up to a certain limit with the basic account set-up?
Thanks
Keep your pennies in the bank then making them rich and you nothing whilst at the same time generating huge bonuses for the leeches. But at least it’s safe or is it!
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RIAC
Same, it's not accepting my passport ID number.
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Well, that would be like owning another type of currency whose value is solely based on confidence (and relative interest rate to some extent).
I’m suggesting that perhaps basing an investment in a crypto currency on a belief in the “fundamentals” maybe a flawed long term principle because it doesn’t buy you into the technology directly, which I think we can all agree is the area with the most value.
I’m happy to be proved wrong if you’d deign to make a reasoned argument instead of trolling...
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Thanks. Will try it out with a small amount.
Likewise. Worth a punt. Having worked in both telecoms and banking I can see the sense in what they're trying to do.
Here's another example of why I'm bullish on the long term prospects of Ethereum. Government level adoption (in this case Canada).
https://nrc-cnrc.explorecatena.com/en
Ok registered on Kucoin but I can’t for the life of me figure how I buy anything I must be missing something somewhere
I'm no expert by any means, but what you need to do is:
- Sign In
- Go to 'Markets' tab
- Select the trading pair you're after (e.g. XRB/ETH)
- That will open the trading window
- The Buy/Sell section is in the bottom right of the window
- Then you play around with how much of your funds you want to use, the price you want to pay etc.
Obviously you'll have to fund your account first.
If it means anything, I didn't find it very intuitive at all.
Hope that helps.
Cheers figured it out now I need to wait to be verified etc but managed to send some litecoin Back and forth so I’ll have a play once my litecoin gets back and take a punt on tel and any others that catch my eye
Be gentle dipping into the altcoins and be ready for the value to disappear in a puff of smoke. Treat them more as lottery tickets :-)
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Anyone who did take my Telcoin tip can buy me a beer as we are 70% up in 24 hours :)
What exchange is that available on? Can’t see it in bitfinex/coinbase
TEL is on Kucoin. I dipped in and bought 15k last night. I'll sell half If It doubles and see where the rest go.
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Be happy to do that. Tell you what, let it appreciate a bit more and I'll buy you a case.
Happily sir, fingers crossed it keeps heading up don’t worry I’ll remember where the tip came from and will look after you for it.
If they vanish I’ll be calling you names ;)
I'll buy you one mate, and thanks for the help via PM last night👍
I’ve just signed up to Coinbase and bought some eth,what’s hot at the minute
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All the coins on Coinbase will do similar ish but ETH is hottest
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RIAC
Been having a play about and transferred some out into a eurwallet ,but can’t seem to put it into my account
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Have you verified and linked the bank account to Coinbase?
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RIAC
Once coinbase is working then recommend GDAX (their sister platform) for cheaper trading and buying at 0.25% rather than 1%. You can transfer from coinbase to GDAX wallets easily.
Kraken is cost free trading at the moment for the rest of the month. They upgraded last week so might be better than before when shockingly flaky.
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Think I’ve sorted it ,I went to something that said withdraw ,it then transferred £1 to there account I think,then said it may take 2 days to show,I think that’s linking accounts together,computers are not really my thing,I generally hit things with an hammer
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Is everyone still reasonably confident with crypto? December seemed to be a great month but the last few weeks have been tough. I wonder if the tide will turn properly against bitcoin/crypto once governments start announcing crackdowns.
They certainly seem very volatile but I’m not sure that governments can do much about crypto currencies. The cat is out of the bag now, the technology is here and it’s only going to become more widespread IMHO.
I think the whole concept of currency may change in the next decade or so.
Most people don’t have a clue which is the really good bit I think, the people I know that do think its really good news and with their track records I am happy to take a punt with a little knowledge
RIAC
I'm sorry if this is a daft question but could someone please explain to me what is the really good news about crypto or point me to a laymans resource, as it seems a horribly volatile and risky form of "currency" to me.
Governments can only really regulate. They couldn't ban crypto as it's the future. What they could and should do is regulate so there aren't anonymous owners etc. This would be good as there are loads of crappy coins out there.
BTW IMHO Bitcoin is limited in the future unless it has a huge technological push as other platforms like Ethereum are miles ahead in terms of speed and functionality
It's actually becoming more legitimate:
http://elevenews.com/2018/01/22/kore...em-this-month/
Periods like the last few weeks with big dips and rises are actually good for the health of the market, it forces people to research into the coins and tokens (there is a difference) I've been researching more and more and when I read a good article on a particular coin I'll divert some funds from another coin that I don't understand as well or appears to be overhyped and I've made good gains on.
Saturday saw a 10% gain in my portfolio value, but Sunday was a 13.5% loss, however within that a token called VeChain (VEN) still made gains and has been bucking the trend for the past few weeks, it does dip when the market dips but those dips are lower than the wider market and when the market rises it rises faster. However a token like Cindicator(CND) has had similar large gains, but if you look at the chart it's 2 very short periods (hours at most) with very large gains followed by flat/decreasing trend. This to me indicates pumping by a person or group with intention of dumping as other see the uptick and pile in. So I'm staying away from that one.
This article in the NY Times is a good one:
https://www.nytimes.com/2018/01/16/m...ype=collection
cheers.
Today has not been a good day ...
It has if you’re buying :)
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RIAC
It has been, but unfortunately I'm not buying at the moment!
I've just picked up a bit more cheap NEO. Jan is the same each year so not too worried - we'll be fine in a few weeks!
I do think that bigger players are starting to focus into Crypto though so can see more extended volatility and potential downside as the price whipsaws and shakes out weaker hands. I have kept a core position but moved money to the sidelines ready to buy in on any further significant correction. There is potential still to test down to the 8k USD range for Bitcoin. That would be a good thing in my eyes.
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You are a sockpuppet paid to pump crypto and I claim my £5.
The technology to act as a currency is way off. Years off. It is far too complicated and processor intensive right now.
Does anyone else share the sentiment that it is still years away before crypto as a technology is viable but is still invested in it right now?
http://fortune.com/2018/01/12/kfc-bitcoin-bucket/
I know it's just a marketing gimmick
Did those who say there’s always a downturn in January sell a few weeks ago?
Your $20 could easily become $15 or $25 between placing your order and collecting your food!
The first ever Bitcoin transaction saw someone pay 10,000 Bitcoin for 2 Pizzas around 8 years ago. At the rates a month ago that makes it $50m per pizza.
Better have been good!!!
Eh, in what way is it “processor intensive”?
Not Dominoes then!
I only saw lots of people trot out those downturn in January graphs at the end of the main downturn (though it's restarted another down cycle this week). next year presuming I'm still holding and market hasn't completely collapsed think I'll start dripping money out in early December and drip it back in from mid to late January.
Funnily enough... a number of modern sources for the retelling of the tale names Dominoes as the provider. However I strongly suspect this to be a case of lazy journalism.
Nathaniel Popper the NYT reporter who documented the episode in some depth in Digital Gold, his excellent narrative of the early years of bitcoin, records it as Papa John's.
Mining right now uses up the electricity equivalent to the use of several small countries. Not to mention transactional processing, etc..
I've no idea how to change that, but it must be improved, surely.
It does but that doesn’t make it “processor intensive” but “energy intensive” and anyway is completely invisible to it’s use as a currency. I mean how much energy do the world’s currencies (or even just one of them) need to be designed, printed, issued, transported, stored and used? Can’t imagine it’s less than Bitcoin but I don’t think it impacts their use either.
I do agree the energy demand is an issue but I don’t really see how it impacts on its use and adoption as a currency. The scalability and useability challenges are much more pressing there.
To be fair, i don't really see bitcoin as the currency that will be the winner in the future. Rather I see one of the altcoins win out. Few years away though.
You may be right, pretty hard to tell from here of course.
But with a few exceptions they all have the same fundamental limitations (sometimes more) and those limitations will still need to be solved. Even those coins that may have a better solution have yet to prove it at serious scale.
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