Author Topic: Anyone else interested in cryptocurrency?  (Read 14106 times)

CaptainD

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Re: Anyone else interested in cryptocurrency?
« Reply #100 on: 25 Nov 2017, 15:09 »
Wow actually BTC has dipped again just tonight! ~2400 USD
I can't believe I typed this five months ago. :~(

It's insane isn't it?!? (laugh)

CaptainD

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Re: Anyone else interested in cryptocurrency?
« Reply #101 on: 30 Nov 2017, 09:56 »
Well.. there we are then.  Google tells me that today - 1 Bitcoin equals 10236.28 US Dollars

It's not even December yet!!!!! :shocked::shocked::shocked::shocked::shocked::shocked::shocked::shocked::shocked:

selmiak

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Re: Anyone else interested in cryptocurrency?
« Reply #102 on: 30 Nov 2017, 10:56 »
what do you think? buy? or keep calm until BTC can keep the 10K? It could go downhill very steep very quickly... maybe tomorrow... or maybe rather around january :P

Re: Anyone else interested in cryptocurrency?
« Reply #103 on: 01 Dec 2017, 06:37 »
For about 24 hours now it has been below 10K slightly. I'm just buying and not looking back. It seems like jumps of 1, 2 or 3k are very possible as barriers to entry are lowered and more and more mainstream financial firms show confidence. Sure there could be a correction, but this train isn't stopping in the long run.

NEO, on the other hand, is breaking my heart here. I hope this new push on app development on the platform produces something valuable, but it has just been a long slough.

Re: Anyone else interested in cryptocurrency?
« Reply #104 on: 08 Dec 2017, 03:51 »
So $19K+ last night. Um. Yeah.

CaptainD

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Re: Anyone else interested in cryptocurrency?
« Reply #105 on: 08 Dec 2017, 10:07 »
Well, I'm a bit stuffed.  Bittrex have changed their terms so that you cannot withdraw anything unless you have a "verified account" (so much for decentralisation eh lads?!)  Their "Basic Verification" possibly works for a select few living in the States, though even then it doesn't seem guaranteed.  For "Enhanced Verification" you need to scan and send certain documents that I would rather not give out, especially considering it has also been reported that they have leaked information (https://cointelegraph.com/news/bittrex-leaks-user-passports-in-support-emails-says-russian-telegram-channel).

Sadly it is looking more and more like Bittrex has become an (extremely long-running) scam with what now looks like a clear exit strategy.  This would wipe out pretty much my entire crypto portfolio.

In addition to this my GoldPieces wallet has stopped working and no-one appears to know (or care) why - between these two things I will basically be as poor in the crypto world as I already am in the real world.  I would cry if I didn't laugh! (laugh)

Re: Anyone else interested in cryptocurrency?
« Reply #106 on: 08 Dec 2017, 12:07 »
I'm full on giving paper-walleted crypto for Christmas this year. (laugh) Litecoin and Monero mainly ho ho ho!

Peder 🚀

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Re: Anyone else interested in cryptocurrency?
« Reply #107 on: 09 Dec 2017, 15:38 »
I liked the idea of cryptocurrencies, but right now get the feeling it's being looked at as something it's not :-/.
Also what merchants actually support payments with cryptocurrencies?

tzachs

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Re: Anyone else interested in cryptocurrency?
« Reply #108 on: 09 Dec 2017, 19:12 »
Sadly it is looking more and more like Bittrex has become an (extremely long-running) scam with what now looks like a clear exit strategy.  This would wipe out pretty much my entire crypto portfolio.

Sorry to hear, that sucks. Our company is now starting to trade in cryptocurrencies and they brought an expert to teach us a little bit about it. According to him there are only 2 exchanges that are trustworthy: Gdax (including Coinbase) and Gemini. Those 2 are backed by big known institutions and at least your USD there is FDIC insured. All of the other exchanges are a little shady at best, or outright criminals at worst (Bitfinex).

selmiak

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Re: Anyone else interested in cryptocurrency?
« Reply #109 on: 09 Dec 2017, 20:11 »
You can always store your crypto currency on your own wallet or in cold storage, you don't have to (and very much shouldn't) trust a startup internet company to handle your riches all the time.
Though I haven't found a monero wallet, only websites that offer wallets but I don't trust these for reasons mentioned by CaptainD a few posts above.

CaptainD

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Re: Anyone else interested in cryptocurrency?
« Reply #110 on: 09 Dec 2017, 20:59 »
@manifest class - yeah, though the idea of a paper wallet for a digital currency has always baffled my internal logic processors! (laugh)
@peder - true - is it a currency or is it a commodity?  If there were just a few cryptos around it would be easier I guess, but there are little hundreds or maybe thousands of the suckers.  Few places genuinely accept BTC, I know Humble Store does and there was talk of Steam doing so, but the majority of altcoins the only real value is trade, turn into one of the established big ctypros when you want to do something, and then choose from the small number of stores / use a processing site (potentially risky) or buy gift vouchers with them (giftoff or crytptodechange) - I favoured the last option personally.  You could try selling the crypto for fiat but again I always felt the risk was fairly high with that.
@tzachs - thanks for that, I may look into those.  Though I have not and will not put a penny of "real" money into this, it was great being able to buy gift vouchers with the crypto.  If Trex is truly out of line as it seems, it will cause even bigger shockwaves than the Crytpsy scandal.  I've heard of Coinbase of course although I have to admit that Gemini is not an exchange I really know of.  (I have little to no funds on a couple of other exchanges so I can't lose much more!!)
@selmiak - very true, but it's not like Bittrex is a new company - they've been around for ages and I've never had even the tiniest trouble with them before.  Sadly, it seems that this was either a VERY long-term scam, or simply that they've run into trouble and are covering their losses unethically.

selmiak

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Re: Anyone else interested in cryptocurrency?
« Reply #111 on: 13 Dec 2017, 18:44 »
I was just checking the btc value and see this:



if I hadn't sold what I don't need already I'd panic. Though it is just some wrong display probably, but maybe a sign? Thought I'd share. Even though I know Photoshop and html there is no manipulation involved in that screenshot!


edit: refreshing the charts now this dent looks normal again. Was it a sign?
« Last Edit: 13 Dec 2017, 19:29 by selmiak »

selmiak

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Re: Anyone else interested in cryptocurrency?
« Reply #112 on: 16 Dec 2017, 19:46 »
back up at 16k €

also an interesting writeup on wired :X

https://www.wired.com/story/bitcoin-global-warming/

Quote
Right now, the hash algorithm is useless work, intentionally. It’s burned. How about making it do something useful? It’s a P2P network doing collaborative computation. What about making it find signals from aliens, or figure out how to make proteins useful to medical science, or solve real-world crypto problems and prime factorization? And but no. “I’ll tell you why that didn’t happen, and it’s perverse,” Sirer says. “Had bitcoin been mined by doing something useful, then there would be a correspondence between useful work and the number of bitcoins you get … That creates a mental anchor point in people’s mind for how much a bitcoin should cost.”

...

Quote
The declining rewards put a cap on the total number of bitcoins that can ever be in the world. It’s 21 million, and the current trend line leads to them being nearly all mined out around 2032.2 Once that happens, transaction fees will be the only reward built into the system. Some other cryptocurrencies, maybe more energy-efficient ones, will start looking more competitive. Right now, bitcoin looks increasingly like a tool for speculation rather than a viable, mainstream currency. And one scientific law that math, physics, and economics all share is this: Bubbles pop.


Re: Anyone else interested in cryptocurrency?
« Reply #114 on: 22 Dec 2017, 12:38 »
Wow last minute Christmas bargain shopping in crypto!

Re: Anyone else interested in cryptocurrency?
« Reply #115 on: 23 Feb 2018, 17:14 »
I made the mistake of buying Bitcoin while it was at its peak, it was like $20K. I only bought the equivalent of $30, but I still feel silly for that.

I don't believe it will gain that much value in the future, but I still plan to buy some more BTC when I have money to play with. Regret of not buying BTC would be worse if BTC gets valued.

Re: Anyone else interested in cryptocurrency?
« Reply #116 on: 04 Mar 2018, 17:46 »

I don't believe it will gain that much value in the future

Hmm interesting perspective. Why do you feel this way?

Stupot

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Re: Anyone else interested in cryptocurrency?
« Reply #117 on: 05 Mar 2018, 00:30 »
Has this not all been revealed as a massive scam yet?

Re: Anyone else interested in cryptocurrency?
« Reply #118 on: 05 Mar 2018, 01:48 »
Has this not all been revealed as a massive scam yet?

No, it hasn't.

Khris

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Re: Anyone else interested in cryptocurrency?
« Reply #119 on: 05 Mar 2018, 08:48 »
It's not a scam in the legal sense. People like to label it as scam because it makes them sound woke.

I haven't bought any Bitcoin yet, and I'm not planning to, but I did run mining software as an experiment for a few weeks. I now have 0.005 BTC currently worth about 50€, and the additional electric cost was about 45€ :-D