Official cryptocurrency thread (Bitcoin, Ethereum, Altcoin)

[pokerjungle]

When you hold your coins on coinbase you dont control the private keys so its at their discretion if they want to credit the forked coin to you and if the site was ever hacked you would lose all your coins.  Like others have said the smart play for everyone is to store there coins on a hardware wallett Nano Ledger or Trezor. You control the private keys so you can keep your coins completely safe this way and benefit from all the forked coins. Anyone who tells you different is wrong and doesnt understand how the technology works.

[tikay]

When you hold your coins on coinbase you dont control the private keys so its at there discretion if they want to credit the forked coin to you and if the site was ever hacked you would lose all your coins.  Like others have said the smart play for everyone is to store there coins on a hardware wallett Nano Ledger or Trezor. You control the private keys so you can keep your coins completely safe this way and benefit from all the forked coins. Anyone who tells you different is wrong and doesnt understand how the technology works.

Good evening Conor, good to see you here.

[Doobs]

You said the "best advice is".   When I read it, I pretty much thought as acegooner did.  The best advice for who?

I said

As has been stated many times in this thread, the best advice is tokeep your coins in a hardware wallet.

.  In response to acegooner talking about coinbase and the dangers of holding coins there.

"The best advice is to keep your coins in a hardware wallet" is for someone who holds bitcoin/ethereum etc.  I don't think that is really debateable.

I say advice, you say advice.  I just said I read it as he did. 

Anyway, maybe you won't have to worry about where to keep them soon.

[SuuPRlim]

When you hold your coins on coinbase you dont control the private keys so its at their discretion if they want to credit the forked coin to you and if the site was ever hacked you would lose all your coins.  Like others have said the smart play for everyone is to store there coins on a hardware wallett Nano Ledger or Trezor. You control the private keys so you can keep your coins completely safe this way and benefit from all the forked coins. Anyone who tells you different is wrong and doesnt understand how the technology works.

100% true!

Crypto is fun, most fun about it is seeing anyone try to convince anyone else anyone has a fucking clue whats going to happen

[acegooner]

When you hold your coins on coinbase you dont control the private keys so its at their discretion if they want to credit the forked coin to you and if the site was ever hacked you would lose all your coins.  Like others have said the smart play for everyone is to store there coins on a hardware wallett Nano Ledger or Trezor. You control the private keys so you can keep your coins completely safe this way and benefit from all the forked coins. Anyone who tells you different is wrong and doesnt understand how the technology works.

100% true!

Crypto is fun, most fun about it is seeing anyone try to convince anyone else anyone has a fucking clue whats going to happen

God this is hard work, whether you store a coin in a hard wallet or leave it on the exchange you are still not addressing the original query. All you have done is say what you would do, without consideration for the original posters circumstances or requirements.

He may have money in a SIPP that he wants to use to gain an exposure /track either BTC and /or ETH. He may want to invest new money in a SIPP with a view to planning for retirement. You don't know that, you have barged in offering a solution that suits someone like your circumstances because you cannot see any other way. That's the problem with the crypto currency space, people are offering  non specific advice when really they should be asking more questions.

You talk about risk, the biggest risk anyone takes investing in crypto currencies is by a mile investment risk without consideration for other asset classes.

[TightEnd]

Bitcoin continues rapid slide as Russia and China stoke regulatory fears

https://www.theguardian.com/technology/2018/jan/17/bitcoin-continues-slide-drop-russia-china-regulatory-fears-cryptocurrency?utm_term=Autofeed&CMP=twt_b-gdnnews#link_time=1516199840

[TightEnd]

Bitcoin speculative bubble is bursting and has a long way to fall, economists warn

https://www.theguardian.com/technology/2018/jan/18/bitcoin-speculative-bubble-bursting-long-way-to-fall-economists-warn?utm_term=Autofeed&CMP=twt_b-gdnnews#link_time=1516261400

[SuuPRlim]

When you hold your coins on coinbase you dont control the private keys so its at their discretion if they want to credit the forked coin to you and if the site was ever hacked you would lose all your coins.  Like others have said the smart play for everyone is to store there coins on a hardware wallett Nano Ledger or Trezor. You control the private keys so you can keep your coins completely safe this way and benefit from all the forked coins. Anyone who tells you different is wrong and doesnt understand how the technology works.

100% true!

Crypto is fun, most fun about it is seeing anyone try to convince anyone else anyone has a fucking clue whats going to happen

God this is hard work, whether you store a coin in a hard wallet or leave it on the exchange you are still not addressing the original query. All you have done is say what you would do, without consideration for the original posters circumstances or requirements.

He may have money in a SIPP that he wants to use to gain an exposure /track either BTC and /or ETH. He may want to invest new money in a SIPP with a view to planning for retirement. You don't know that, you have barged in offering a solution that suits someone like your circumstances because you cannot see any other way. That's the problem with the crypto currency space, people are offering  non specific advice when really they should be asking more questions.

You talk about risk, the biggest risk anyone takes investing in crypto currencies is by a mile investment risk without consideration for other asset classes.

I have no idea really what you mean, if you need any coins on an exchange to leverage positions or if you dont have a wallet for it otherwise then obviousl you have to leave it there, risks are real and it's another one of my risks you have to factor in if you're going to be involved in this manic industry.

HOWEVER, if you have some bitcoin and you're simply holding them for the moment it's not really any debate about the fact its much safer on a hardware wallet than an exchange, unless i've confused the point somewhere.

[rfgqqabc]

https://imgur.com/a/PSN3i

cant embed, used image tags and removed s from https but nothing worked. Fun few days.

[RobM]

Interested to know people's thoughts on Tether..

As relatively new to the space I've been trying to soak up as much info as I can as I go along, but having started on coinbase that deals in actual fiat, this is the first i'd come across It..in the past few days when new huge batches were being printed in line with the dip and this was being discussed on twitter. I don't hold any or use it for transactions but concerned r.e it's impact at the forefront of some of the most liquid exchanges.

With a clear Ponzi such as Bitconnect unravelling as expected, you'd have been foolish to invest there after any kind of research, but I'm now wondering if these big exchanges are using their power in a different fashion but for similar potential consequences which could put the whole crypto space to a crash at any time. Does it need a crash where all these risks are flushed out in order to reset afresh and move forward? I say this as someone who purchased near the top, traded a bit, diversified into alts a bit via Binance and am currently hodling what I want to be a long term investment - just without the Whiskey!

I've seen the Tether issue referred to as an 'open secret' but not seen it discussed here..

Am I looking at this wrong - Are they taking it upon themselves as governors employing quantitative easing to assist the market? Is it the equivalent of good ole national debt where it doesn't matter how many times they put names to the same supply as we know that it's 'never' going to pop!? Are they genuinely creating and burning the stuff to ensure they track to the dollar and actual transactions taking place?. The IOTA story on the opening Reddit statement below makes me sceptical along with the disclaimers on the Tether website.

Do you think an audit would prove it's legit? Do you think people who touch usdt are being robbed in plain sight? Do you think it's driving price upwards but as nobody 'yet' has lost their money (due to Tether directly), it's therefore all ok and maybe even a positive? Am I talking complete b***? just being caught in a propoganda chain ?- I'm not very bright so I rely on you guys to keep me grounded! Sorry for all the questions.

This article explains this better than I could and it's not an isolated discussion so assume is one of many threads on the subject..

https://medium.com/@bradfrankel16/why-a-tether-audit-would-ruin-bitcoin-96da091cc154

Found within this Reddit which I confess I haven't read much of yet so may answer some of my questions:

https://www.reddit.com/r/CryptoCurrency/comments/6y8c3m/tether_has_the_potential_to_bring_down_the_entire/

Twitter account discussing with more insight including discussion of bots manipulating the price of BTC via the same exchange where Tether originates.:

@TN

You can also watch how much new Tether is entering the system on this twitter handle:

@TetherPrinter

[SuperJez]

.

[SuperJez]

Interested to know people's thoughts on Tether..

I think its clearly a bit dodgy, they stopped the auditing from what I read and the question needs to be asked.

However ultimately, at the moment, when the total crypto market cap is £400bn and tether market cap is £1bn (at the time of writing) then it's perhaps not quite as big a deal as its made out to be - yet.

[tikay]

https://imgur.com/a/PSN3i

cant embed, used image tags and removed s from https but nothing worked. Fun few days.

Is this it, Adam?

Click to see full-size image.

[lucky_scrote]

.

I've avoided any Polk videos until now because I couldn't bring myself to listen to someone advocating crypto who is so new to the scene. However, this video nails some absolutely great points and he covers more about how crypto is being debated. He's also quite funny imo.

[nirvana]

Agreed, Polk didn't sound like a complete idiot