Cryptocurrencies

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RB1992

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I've recently took the plunge and made a small investment in several "cryptocurrencies" - mainly Bitcoin, Ethereum & Monero. Does anyone else have any interest in this growing market?
 

Kingokings204

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Jul 8, 2013
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Isn't it how like cyber hacking and ransoms are demanded they are paid?
 

Bumberclart

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Ethereum seems to be the number one gamble for the future.
 

Alkhen

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My brother-in-law mines bitcoins, he's been doing it for a good few years. Can't remember the specific numbers but early on he sold a around 10 bitcoins for a few hundred quid which if he had kept would have been worth around 60k.

Took me ages to get my head around it, just wish id seen the opportunity and brought some early.
 
R

RB1992

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It's an interesting market at the moment. There's talk of the bubble bursting within the next few months, but then there's also talk of it exploding 100x/1000x over the next year.

Basically, no-one has a f**king clue what's going to happen. Looking forward to the ride though.
 

jimmyhillsfanclub

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It's an interesting market at the moment. There's talk of the bubble bursting within the next few months, but then there's also talk of it exploding 100x/1000x over the next year.

Basically, no-one has a f**king clue what's going to happen. Looking forward to the ride though.
Are you gonna sell shortly RB1992?

My mate (ex banker, ex broker & current venture capitalist told me to get on bitcoin back in July....already relatively late to the party he said.....they were around $2.5K USD.......just seen its gone through the $10K mark today!!

....I didn't feel I understood enough about it to invest...how I wish I'd taken the punt as I was initially looking at 2......so would have been about $15K up.....

Still can't get my head around whether it is the biggest bubble since the Tulips or whether its gonna keep climbing......
 

Alkhen

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Are you gonna sell shortly RB1992?

My mate (ex banker, ex broker & current venture capitalist told me to get on bitcoin back in July....already relatively late to the party he said.....they were around $2.5K USD.......just seen its gone through the $10K mark today!!

....I didn't feel I understood enough about it to invest...how I wish I'd taken the punt as I was initially looking at 2......so would have been about $15K up.....

Still can't get my head around whether it is the biggest bubble since the Tulips or whether its gonna keep climbing......
Not sure if its a bubble but its got to level out at some point. Thing that is driving the popularity is the anonymity they provide, most of the shady shit on the dark web uses bit coin. Because the benchmark 10k was reached today there have been a bunch of stressed bankers come on the radio talking about bubbles but i'm not convinced its not just sour milk. they are no longer getting the cream.

Like you I'm gutted I didn't get in early enough to make decent money
 
R

RB1992

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I've doubled my money on my initial investment - not bad at all for 3 months! I got on Bitcoin at about $4500. I put a relatively small amount of money in knowing I could well lose it all within days or weeks. I'm just going to keep it in there for the foreseeable future and only cash if it becomes a potentially life-changing amount (one can dream!)

Like I said earlier in the post, some people think it is going to reach $100k, some people think the bubble is going to burst within weeks. Who knows!?
 
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edgy

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Is anyone in or thinking of going in? I've recently bought a few £00's worth of Litecoin & Ethereum for a bit of a long term gamble, similar to the booming Bitcoin. Unfortunately missed out on the 130% rise on Tuesday, but I reckon there's more to come!

If any of you are thinking about starting a little investment in these crazy currencies, then use this link:

Coinbase - Buy/Sell Digital Currency

We'll both get £7 worth of Bitcoin to start off with after your first deposits.
 
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Nick

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Have always wondered about the mining, have seen people use the stupidly powerful mining machines but never actually known how much they make.

I like the idea of trading, buying when they are low and cashing them out when they are high but not too sure I'd want to do it with too much money.
 

edgy

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Like with all trading.... it's a gamble. And with gambling, the golden rule is to never stake more than you can afford to lose. You dont have to buy whole "coins" you can buy fractions of coins. So say £100's worth.

As for it crashing down, well maybe yes. But there is a large train of thought now that 2,3 or 4 of these cryptocurrencies will become the way we actually pay for things in the future. Replacing physical money. If that does happen and you are on the right coins then you'll have profit.
 

edgy

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Soz, lark. Didn't know there was one ongoing.

New form of gambling for me, so enjoying the ride!
 

Nick

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I know it's weird, but are there any trading bots?

I have used one with Betfair and also FIFA and find it quite interesting to have a play about.
 

jimmyhillsfanclub

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I missed out on the bitcoin price explosion despite having a clear heads-up from my finance mate......see earlier in the thread.

However, the same bloke has recently persuaded me to take a punt on IOTA.......looks very interesting & from my limited understanding of the technology, appears to have a great chance of being THE one for a longer term punt.....

My mate has even agreed to act as my broker, so I didn't have to arse about getting BTC & buying on the exchange etc.......just sent him GBP.

So....lets see where this goes......could make me £100K in 12 months, or I could lose the lot tomorrow.....

........MUSIC !

 

wingy

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Caught a segment on the 24 hr news the other Night, they reckon 25%of trades are from the Korean penninsula, people taking out mortgages on strength of it.
 

edgy

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I missed out on the bitcoin price explosion despite having a clear heads-up from my finance mate......see earlier in the thread.

However, the same bloke has recently persuaded me to take a punt on IOTA.......looks very interesting & from my limited understanding of the technology, appears to have a great chance of being THE one for a longer term punt.....

My mate has even agreed to act as my broker, so I didn't have to arse about getting BTC & buying on the exchange etc.......just sent him GBP.

So....lets see where this goes......could make me £100K in 12 months, or I could lose the lot tomorrow.....

........MUSIC !

IOTA is my next target, as I have heard similar things about its structure and possible future uses. Unfortunately I have to wait 15-20 days for ID authorisation on Bitfinex before I can buy any!
 
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tommydazzle

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My daughter's partner has constructed his own rig in my unused dining room. It's using about a kilowatt an hour but he reckons he's easily paying the electricity - (he will benefit from my solar panels in the summer). That room was always the coldest in the house but it's toasty 24/7 now. He's mining Ethereum.
 
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jimmyhillsfanclub

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jimmyhillsfanclub

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.....and its up nearly 30% on the day.....

Nice one bosch :pompus:
 

Mild-Mannered Janitor

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Didn't think you could sell them so noone is actually cashing out any profit at the moment and also nowhere to actually spend them.
 

mrtrench

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Somewhere between the waitress and her table.
It's following the typical bubble profile. The first fall has now taken place and we are in the dead cat bounce stage (a small increase for a period). Next is the big fall all the way back to where it started.

This is the graph of bitcoin versus GBP for the last year (before that it flatlined more or less for 5 years):

upload_2017-12-27_9-56-40.png

This picture shows the profile of a typical bubble, helpfully annotated with temperament comments. "New paradigm" - heard that recently about bitcoin?

 

Houchens Head

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I'd rather stick a quid on the lottery. I wouldn't trust anything I saw on the internet!
Has anyone actually held one of these bitcoin things in their hand? Mining? What's that all about? It all sounds a bit "computer game" to me.
 

jimmyhillsfanclub

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Whilst I tend to agree that bitcoin specifically is in a classic bubble......joe public buying cos john public is......cryptocurrency in general has a big future......

As mentioned above.....ive invested in iota......a tangle technology that appears to have the capacity to supercede block chain.......

Im in good early adopter company with both Bosch venture capital and the Tokyo metropolitan government investing......
 

mrtrench

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Somewhere between the waitress and her table.
cryptocurrency in general has a big future......
Can you explain to me why you think so? Genuine question because I don't get it.

I understand it is useful for criminals wanting anonymity on the internet - but that's hardly a big market (I hope) - not big enough to make investors lots of money (and not the kind of thing that I would personally invest in even if it were lucrative). However it has nothing else going for it that I can see - it's not providing a service that isn't already available and it provide no income. Additionally there are risks of losing it to cyber theft or just losing ones hard drive.

Added: there is an investment I see big returns for just now - companies developing robotics. There are at least two exchange traded funds available: RBTX and RBOT. That's where I'm putting my speculative money.
 

Houchens Head

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I'd rather buy a "Rolex" off Arfur Daley!

article-0-1A660BD900000578-232_634x553.jpg
 

dutchman

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I understand it is useful for criminals wanting anonymity on the internet
It's not as anonymous as many people think. All transactions are logged on the blockchain and can be traced. Also (unless you are a miner) the only way you can buy or sell Bitcoin is via a bank transfer to or from a Bitcoin exchange and all of these are reported by your own bank to the Inland Revenue, DWP, etc.