Cryptocurrencies and Bitcoin

[Pubey]

Used to post a couple of poker forums when this all first kicked off 7/8 years ago,of course I totally ignored it all and didn't pay it a bit of notice , what a numpty!

My younger brother got into it a few years ago and although he's coy about how much he's made, he's paid off his mortgage and is looking at more property. He then got my parents into investing in ETH at the start of 2017 and they've done well out of it (put a relatively large amount in I think though). I don't want to talk about my own specifics and what I've invested in, but here's to 2018...

As a note of caution, this isn't just "stick a grand in and print out £10,000", many people lose out and day trading is very risky (and hard work). You're best off finding an alt that has a decent roadmap/white paper plan for how they are doing something valuable and unique, and to stick with them as long as you see them going in the right direction. Look for genuine press about successes, rather than hype that is looking to pump the short-term price. Reddit is a good place for specific discussions regarding alts, as well as crypto/blockchains in general.

 

[Ricky Otto]

All about bitcoin cash today, as soon as purchases are enabled on coin base i'll be buying a lump of it. Not for long term will probably sell it tomorrow, reckon it could be a quick double your money

 

[Ricky Otto]

I don't know much about bit coins or how it works, but I read earlier (probably fake news) that one of the co-founders of bitcoin (Emil Oldenburg) has sold all of he's entire stock. I wonder if the bubble is about to burst?

Interestingly Charlie Lee has sold the bulk of his LTC as well, people are going to claim their reward eventually. Will be interesting to see if people follow them and cash out. I expect a drop in BTC with a lot of money going into BCH now it has been launched on 2 major platforms. Reckon BTC will drop to about £10k and BCH will double in the next couple of days

 

[The Big Dady]

So loads and loads of people are making big money from Cryptocurrencies and Bitcoins (alegilly).

So who is loosing all this money, it must be coming from somewhere?

Is it just a sophisticated scam similar to pyramid selling scams?

Once the bubble bursts everyone that is left in looses everything?

 

[Ricky Otto]

So loads and loads of people are making big money from Cryptocurrencies and Bitcoins (alegilly).

So who is loosing all this money, it must be coming from somewhere?

Is it just a sophisticated scam similar to pyramid selling scams?

Once the bubble bursts everyone that is left in looses everything?

Yes a lot of these coins will lose a lot of people a lot of money. Most of these coins have no real value and are ridiculously inflated. The bubble will burst for most. There is potential for a few to succeed either as a digital store of value or as a currency, none of these can be looked at as viable currency at the moment due to their volatility though. Bitcoin has to be the favourite to be the store of value if adopted and if it is adopted then it will eclipse its current price. Monero has big potential as it is completely anonymous, it also could be made illegal in time as it is and will be used for all kinds of criminal activity, that is sadly what gives it that massive potential.

 

[davewebbsbrain]

Yes a lot of these coins will lose a lot of people a lot of money. Most of these coins have no real value and are ridiculously inflated. The bubble will burst for most. There is potential for a few to succeed either as a digital store of value or as a currency, none of these can be looked at as viable currency at the moment due to their volatility though. Bitcoin has to be the favourite to be the store of value if adopted and if it is adopted then it will eclipse its current price. Monero has big potential as it is completely anonymous, it also could be made illegal in time as it is and will be used for all kinds of criminal activity, that is sadly what gives it that massive potential.

Doing my trading via EToro which is CFD so no ownership of coins, just buying into the spread value. The buy rate is lower and sell rate is higher so eToro is taking a bit off me every time I sell and buy. They do that with everyone and they have to be making money. I don’t care as long as the value of my trade goes up and I can withdraw when I have earnt enough

 

[Ricky Otto]

After a big dip it looks like a bit of a recovery is happening for the major cryptocurrencies. Not sure we will see the surges of late 2017 but it is interesting.

Also interesting is the fact that a Litecoin transaction for $99million was made last Thursday, it took 2.5minutes to process at a cost of 40 cents! Both the time and transaction costs would have been massively inflated if the transaction was done in traditional currency. I am convinced that the block chain and cryptocurrcies are the future but have no idea in what guise.

Also read an interesting article on how facebook could hypothetically take over bitcoin if it wanted to, if anybody is interested

https://www.technologyreview.com/s/610809/lets-destroy-bitcoin/

 

[Smudger]

After a big dip it looks like a bit of a recovery is happening for the major cryptocurrencies. Not sure we will see the surges of late 2017 but it is interesting.

Also interesting is the fact that a Litecoin transaction for $99million was made last Thursday, it took 2.5minutes to process at a cost of 40 cents! Both the time and transaction costs would have been massively inflated if the transaction was done in traditional currency. I am convinced that the block chain and cryptocurrcies are the future but have no idea in what guise.

Also read an interesting article on how facebook could hypothetically take over bitcoin if it wanted to, if anybody is interested

https://www.technologyreview.com/s/610809/lets-destroy-bitcoin/

How did your investments go in the end?

I'm kind of interested in this stuff but cannot get beyond the fact it seems to me to be akin to sticking it all in a fruit machine.

 

[Ricky Otto]

How did your investments go in the end?

I'm kind of interested in this stuff but cannot get beyond the fact it seems to me to be akin to sticking it all in a fruit machine.

I invested a total of £2800 and if I had cashed it all in at it's peak I'd have had £8500, I didn't though. I cashed £3000 out so that I wouldn't lose anything and the rest I split around all four currencies on coinbase (BTC, BCH, ETC & LTC) Most of it is in Litecoin. My original £2800 is now worth £4300 which is good but much lower than the £8500 I could have cashed out on. Think those figures show you just how volatile these currencies are and it is certainly a gamble. Blockchain technology is certainly the way forward but there is nothing to stop central banks creating their own "coin". For every article I read about the price going to the moon I read another saying its the biggest pump and dump scam going. It could be either, I know i'll sell some if it has another big rise like is being predicted at the moment, and in turn i'll also buy back if it crashes again. My personal opinion is the saga has someway to go!

 

[Napster]

Lots of talk at the moment about blockchain in shipping which could revolutionise the industry.

 

[davewebbsbrain]

I invested a total of £2800 and if I had cashed it all in at it's peak I'd have had £8500, I didn't though. I cashed £3000 out so that I wouldn't lose anything and the rest I split around all four currencies on coinbase (BTC, BCH, ETC & LTC) Most of it is in Litecoin. My original £2800 is now worth £4300 which is good but much lower than the £8500 I could have cashed out on. Think those figures show you just how volatile these currencies are and it is certainly a gamble. Blockchain technology is certainly the way forward but there is nothing to stop central banks creating their own "coin". For every article I read about the price going to the moon I read another saying its the biggest pump and dump scam going. It could be either, I know i'll sell some if it has another big rise like is being predicted at the moment, and in turn i'll also buy back if it crashes again. My personal opinion is the saga has someway to go!

I've put about £600 in Ripple at various times. Lowest position is 0.24 and highest about 1.98. Very volatile . One day I'm $300 in the red then a couple of days later I'm $300 in the green. If it climbs back up to $3 or more I keep thinking I'll close my positions but I have heard a lot of talk of ripple being linked to a lot of big names, Apple being one of them. My only worry is etoro not paying out a big sum to me when I finally close my positions. I know they make money on the spread but how much I don't know.

Slightly off track but I got a tip to buy some shares in EVR Holdings. I threw £100 at it in December. The share shop took £12.50 of it but my £87.50 is now valued at £162 today . Heard rumours of a possible take over at some stage which should push the share price up. Have a Google of them, may be worth a punt

 

[Ricky Otto]

Lots of talk at the moment about blockchain in shipping which could revolutionise the industry.

Yes ship chain is massive. Uses ship tokens which run on the ethereum platform. A reason why I've brought some ether to possibly convert to ship tokens or just keep as ether. Time will inform my decision

 

[Ricky Otto]

I've put about £600 in Ripple at various times. Lowest position is 0.24 and highest about 1.98. Very volatile . One day I'm $300 in the red then a couple of days later I'm $300 in the green. If it climbs back up to $3 or more I keep thinking I'll close my positions but I have heard a lot of talk of ripple being linked to a lot of big names, Apple being one of them. My only worry is etoro not paying out a big sum to me when I finally close my positions. I know they make money on the spread but how much I don't know.

Slightly off track but I got a tip to buy some shares in EVR Holdings. I threw £100 at it in December. The share shop took £12.50 of it but my £87.50 is now valued at £162 today . Heard rumours of a possible take over at some stage which should push the share price up. Have a Google of them, may be worth a punt

I'll give it a Google, the fees buying shares are extortionate has always put me off. You seem to have done alright though

 

[SUBBlue]

A very interesting, intriguing topic that admittedly now has me hooked!
I am new to this & have been researching over the past week & reading all of your comments & opinions, so yesterday I bit the bullet & opened a Coinbase account and purchased £20 each of Ethereum, BTC, BCH & LTC as a starter.

I tend to bet £50 a month on Ladbrokes sports book app so instead of doing that I put the money elsewhere for a change. Don't drink or smoke, it's all overtime so in my mind it's expendable anyway.

1) I want to buy into Ripple (XRP ?), can anyone recommend another secure, straightforward platform to use apart from eToro, ideally available as an app please?
I'm a bit of a technophobe you see ( old age & all of that)

2) This may sound silly but, is there any way you can be liable for MORE than your original investment if things go bad?

Keep posting all your insights etc, as I say it's a really interesting subject :thumbsup::thumbsup:

 

[C C Csiders]

A very interesting, intriguing topic that admittedly now has me hooked!
I am new to this & have been researching over the past week & reading all of your comments & opinions, so yesterday I bit the bullet & opened a Coinbase account and purchased £20 each of Ethereum, BTC, BCH & LTC as a starter.

I tend to bet £50 a month on Ladbrokes sports book app so instead of doing that I put the money elsewhere for a change. Don't drink or smoke, it's all overtime so in my mind it's expendable anyway.

1) I want to buy into Ripple (XRP ?), can anyone recommend another secure, straightforward platform to use apart from eToro, ideally available as an app please?
I'm a bit of a technophobe you see ( old age & all of that)

2) This may sound silly but, is there any way you can be liable for MORE than your original investment if things go bad?

Keep posting all your insights etc, as I say it's a really interesting subject :thumbsup::thumbsup:

Do you find that subtle innuendos follow?

 

[davewebbsbrain]

A very interesting, intriguing topic that admittedly now has me hooked!
I am new to this & have been researching over the past week & reading all of your comments & opinions, so yesterday I bit the bullet & opened a Coinbase account and purchased £20 each of Ethereum, BTC, BCH & LTC as a starter.

I tend to bet £50 a month on Ladbrokes sports book app so instead of doing that I put the money elsewhere for a change. Don't drink or smoke, it's all overtime so in my mind it's expendable anyway.

1) I want to buy into Ripple (XRP ?), can anyone recommend another secure, straightforward platform to use apart from eToro, ideally available as an app please?
I'm a bit of a technophobe you see ( old age & all of that)

2) This may sound silly but, is there any way you can be liable for MORE than your original investment if things go bad?

Keep posting all your insights etc, as I say it's a really interesting subject :thumbsup::thumbsup:

Aren’t you keen on investing through eToro? All my cash is in eToro and not had a problem. That said, I haven’t tried to withdraw yet. I have moved $100 from XRP into XLM but I think XRP is probably the one that will earn the money

 

[Ricky Otto]

A very interesting, intriguing topic that admittedly now has me hooked!
I am new to this & have been researching over the past week & reading all of your comments & opinions, so yesterday I bit the bullet & opened a Coinbase account and purchased £20 each of Ethereum, BTC, BCH & LTC as a starter.

I tend to bet £50 a month on Ladbrokes sports book app so instead of doing that I put the money elsewhere for a change. Don't drink or smoke, it's all overtime so in my mind it's expendable anyway.

1) I want to buy into Ripple (XRP ?), can anyone recommend another secure, straightforward platform to use apart from eToro, ideally available as an app please?
I'm a bit of a technophobe you see ( old age & all of that)

2) This may sound silly but, is there any way you can be liable for MORE than your original investment if things go bad?

Keep posting all your insights etc, as I say it's a really interesting subject :thumbsup::thumbsup:

With the collapses in some of the places crypyocurrency could be bought, I too was very cautious. I decided to take the safe option and only use coin base, which meant I missed out on monero which I am/was very interested in. There is no way you can lose or are liable for more than you put in. Its like buying any other currency in that respect.

 

[SUBBlue]

Aren’t you keen on investing through eToro? All my cash is in eToro and not had a problem. That said, I haven’t tried to withdraw yet. I have moved $100 from XRP into XLM but I think XRP is probably the one that will earn the money

Thanks for your replies, I appreciate any advice!

The thing that put me off eToro is the minimum deposit of $200 (£150) as I don't feel ready to outlay that amount at present.

So was wondering if there are any other secure platforms with lower deposit amounts out there that anyone uses please?

 

[Benfleet A1]

I'm watching from afar. As Subblue said, very interesting and some great advise. Not quite brave enough yet but given it some serious thought. Keep the updates coming please.

 

[davewebbsbrain]

Thanks for your replies, I appreciate any advice!

The thing that put me off eToro is the minimum deposit of $200 (£150) as I don't feel ready to outlay that amount at present.

So was wondering if there are any other secure platforms with lower deposit amounts out there that anyone uses please?

The minimum first deposit when I started with etoro was less than that . Try plus 500, they trade in XRP. The good thing with etoro is that if you purchase crypto, you actually own them rather than being just CFD trading