Official cryptocurrency thread (Bitcoin, Ethereum, Altcoin)

[acegooner]

I don't really disagree with what you say tbh doobs. Like you I cannot see a logical way of valuing a crypto currency in the same way as say a publicly listed company. With regards to shorting I have never personally shorted a stock/asset, but studied the technique so I will bow down before your practical experience.

What worries me is that this topic has a life of its own and always seems to gain more traction than the rate my shares thread.  A lot of people who invest in cryptos have never had any experience of investing in stocks, yet seem quite happy to take the much higher risks with cryptos.  The appreciating price of cryptos seem to be largely as a result of momentum rather than fundamentals, when the momentum goes against you and it has done quickly in this asset class over the last few weeks it can be costly.

Much better to get wealthy slowly and hold onto it than be rich for a few minutes then skint the next!

[TightEnd]

(puff)

Bitcoin and Crypto-Currency Make Poker Players Millionaires

Why would poker players be at the forefront? For a few reasons actually…

https://www.pokertube.com/article/bitcoin-and-crypto-currency-make-poker-players-millionaires-2

[TightEnd]

The big business revolution: why the future is blockchain

https://reaction.life/big-business-revolution-future-blockchain/

[TightEnd]

A crypto-catastrophe seems to have been averted

Has the bitcoin civil war come to a peaceful end?

A split in the digital currency has been narrowly avoided

http://www.economist.com/blogs/economist-explains/2017/07/economist-explains-20?fsrc=scn/tw/te/bl/ed/hasthebitcoincivilwarcometoapeacefulend

[TightEnd]

More than $140,000 (£105,000) worth of bitcoins paid by victims of the WannaCry ransomware outbreak have been removed from their online wallets.

http://www.bbc.co.uk/news/technology-40811972

idiot question: what's going on here?

[lucky_scrote]

More than $140,000 (£105,000) worth of bitcoins paid by victims of the WannaCry ransomware outbreak have been removed from their online wallets.

http://www.bbc.co.uk/news/technology-40811972

idiot question: what's going on here?

Bitcoin is traceable, they moved it to another cryptocurrency called Monero that is completely anonymous.

[lucky_scrote]

A pretty wild and exciting ride the past 4 weeks in crypto land. Overall the progress with bitcoin is extremely positive. Thumbs up to all people who held on to their bitcoin during these times .

ANTshares has been rebranded to NEO and has recently released an official statement that they are going to be backed by the Chinese government. Unsuprisingly NEO has shot through the roof. This official statement isn't news to people following NEO closely and I might have posted some reddit threads about this about a month ago.


A redditor recently describes why bitcoin was here in the first place and some of the problems it is trying to overcome with the current monetary system: https://www.reddit.com/r/Bitcoin/comments/6rr6ph/just_a_quick_reminder_why_bitcoin_was_invented_in/

[youthnkzR]

Got involved almost immediately after this thread started.

ANTshares has been rebranded to NEO and has recently released an official statement that they are going to be backed by the Chinese government. Unsuprisingly NEO has shot through the roof. This official statement isn't news to people following NEO closely and I might have posted some reddit threads about this about a month ago.

Picked up some BTC/NEO on the 10th July after doing a fair bit of research. Have since added OMG / BNB (Binance Coin - on the day the exchange opened) and picked up some DELTA during the ongoing Agrello ICO. TenX is one Im starting to look into. Would love to hear your thoughts on any of these, OMG and TenX in particular.

Back on the subject of NEO... Did you pick up any GAS at any point? Has rocketed since hitting Binance. 1st ICO launched off the NEO platform today; Red Pulse Token (RPX) - Da Hongfei (NEO CEO listed as advisor)... As for the statement, all they did was retweet an article which was like 2 weeks old.. deleted it after ~8 hours or so and issued an apology... pretty weird they retweeted it but it was good to see them own up to an honest mistake.

Anybody on here ever used Local Bitcoins? Could use some help!

[acegooner]

Very results orientated thread this one, a flurry of activity when the prices recover but nothing when the prices are tanking. I still won't buy cryptos because they are overvalued, have no transparency and the are relentlessly ramped on SM by people who have a vested interest in newbies buying at inflated prices especially ico's.

The market is predicated by greed, and as we know with most markets it usually goes tits up when people don't think rationally.

I'm still for buying tech stocks, took a punt on a company called EGS that operate in the automated back office market. Robotics and AI will huge wealth creators for people who back companies early. At least you know what you are buying with company stocks.

Ohh and no one can steal your shares, unlike cryptos that you need to go through ridiculous processes to secure your currency and prevent criminals from hacking into your wallets and making off with the proceeds.

A lot of people who have got into this space, know nothing about investments. The lesson will be learned the hard way, history has a habit of repeating itself. 1928, 1987, 2001-03, 2007-09.

[lucky_scrote]

Back on the subject of NEO... Did you pick up any GAS at any point?

Anybody on here ever used Local Bitcoins? Could use some help!

If you have your own NEO wallet then you will slowly accumilate GAS without buying it. If you keep it on an exchange you can't claim your GAS and currently it's worth about 8-10% per year of your entire NEO holdings.

Can't help with local bitcoins I'm afraid.

[lucky_scrote]

Very results orientated thread this one, a flurry of activity when the prices recover but nothing when the prices are tanking. I still won't buy cryptos because they are overvalued, have no transparency and the are relentlessly ramped on SM by people who have a vested interest in newbies buying at inflated prices especially ico's.
 

Quite the contrary. In fact, when this post was extremely active crypto sunk so hard it hurt. No posts were then made for about 3 weeks apart from news bot tighty in which time my portfolio and many others have risen 30-60%. When you post something like this it just discredits what I think about your other posts, and I am one for trying to take both sides of the coin. All of my posts and ramblings have opened up about all the negatives and hurdles crypto currently faces.

I'm still for buying tech stocks, took a punt on a company called EGS that operate in the automated back office market. Robotics and AI will huge wealth creators for people who back companies early. At least you know what you are buying with company stocks.
 

Good for you and good luck. At least you know what you're buying, because clearly nobody in crypto has a clue.

Ohh and no one can steal your shares, unlike cryptos that you need to go through ridiculous processes to secure your currency and prevent criminals from hacking into your wallets and making off with the proceeds.
 

Yes, I have to agree, it is not anywhere near as safe as it should be. This is because markets and trading sites aren't regulated and this area is very new. If you're smart and know what you're doing and take all of the necessary steps it's so unlikely you're going to be unsafe. Who do you think pays when idiot Joe next door gets £10k stolen from his bank account because his computer is infected after downloading seal porn? Don't say the bank, because the bank doesn't pay .

A lot of people who have got into this space, know nothing about investments. The lesson will be learned the hard way, history has a habit of repeating itself. 1928, 1987, 2001-03, 2007-09.

I finally agree with something you say, a lot of people do indeed have no clue what they are doing. You will find that there are lots of big private groups of friends and what not follow each other with what coins they buy and how they split their portfolio. Mostly it will just be say 5% of the group doing all the work and others following suit. If you are following smart people then you will be ok, but if you're not smart enough to know if the guys suggesting what to do are smart or not, you're in trouble.

I do believe that there will be many crashes along the way and probably a really nasty one that could take a year to recover. The market is currently very over-valued depending how you look at it but the markets are based more on future value and implementation. This may sound like a way that I am trying to justify the value of crypto but it's true. There have been many crashes in the past and huge swings time and time again.


Please be a little open minded and don't just disregard it all as nonsense, greed and a market full of idiots. The way you come across is that you are being a stubborn and closed-minded individual and I can accept that attitude if you have a past background in investments and are refusing to even scratch the surface of crypto.

[youthnkzR]

Back on the subject of NEO... Did you pick up any GAS at any point?

Anybody on here ever used Local Bitcoins? Could use some help!

If you have your own NEO wallet then you will slowly accumilate GAS without buying it. If you keep it on an exchange you can't claim your GAS and currently it's worth about 8-10% per year of your entire NEO holdings.

Can't help with local bitcoins I'm afraid.

I just meant as an investment.. I know about the dividends... the transaction fees also. Low circulating supply (~3mil.. rising to ~5mil) by end of year.. NEO is now ready to be built upon since yesterday's upgrade and the gas is scarce.. especially when it's all the exchanges who will be holding a lot of it as a short term investment it seems interesting?

[acegooner]

Very results orientated thread this one, a flurry of activity when the prices recover but nothing when the prices are tanking. I still won't buy cryptos because they are overvalued, have no transparency and the are relentlessly ramped on SM by people who have a vested interest in newbies buying at inflated prices especially ico's.
 

Quite the contrary. In fact, when this post was extremely active crypto sunk so hard it hurt. No posts were then made for about 3 weeks apart from news bot tighty in which time my portfolio and many others have risen 30-60%. When you post something like this it just discredits what I think about your other posts, and I am one for trying to take both sides of the coin. All of my posts and ramblings have opened up about all the negatives and hurdles crypto currently faces.

I'm still for buying tech stocks, took a punt on a company called EGS that operate in the automated back office market. Robotics and AI will huge wealth creators for people who back companies early. At least you know what you are buying with company stocks.
 

Good for you and good luck. At least you know what you're buying, because clearly nobody in crypto has a clue.

Ohh and no one can steal your shares, unlike cryptos that you need to go through ridiculous processes to secure your currency and prevent criminals from hacking into your wallets and making off with the proceeds.
 

Yes, I have to agree, it is not anywhere near as safe as it should be. This is because markets and trading sites aren't regulated and this area is very new. If you're smart and know what you're doing and take all of the necessary steps it's so unlikely you're going to be unsafe. Who do you think pays when idiot Joe next door gets £10k stolen from his bank account because his computer is infected after downloading seal porn? Don't say the bank, because the bank doesn't pay .

A lot of people who have got into this space, know nothing about investments. The lesson will be learned the hard way, history has a habit of repeating itself. 1928, 1987, 2001-03, 2007-09.

I finally agree with something you say, a lot of people do indeed have no clue what they are doing. You will find that there are lots of big private groups of friends and what not follow each other with what coins they buy and how they split their portfolio. Mostly it will just be say 5% of the group doing all the work and others following suit. If you are following smart people then you will be ok, but if you're not smart enough to know if the guys suggesting what to do are smart or not, you're in trouble.

I do believe that there will be many crashes along the way and probably a really nasty one that could take a year to recover. The market is currently very over-valued depending how you look at it but the markets are based more on future value and implementation. This may sound like a way that I am trying to justify the value of crypto but it's true. There have been many crashes in the past and huge swings time and time again.


Please be a little open minded and don't just disregard it all as nonsense, greed and a market full of idiots. The way you come across is that you are being a stubborn and closed-minded individual and I can accept that attitude if you have a past background in investments and are refusing to even scratch the surface of crypto.

I am not close minded, I have worked in the Financial Services industry for decades and seen all of this before. There is going to be a crash, who knows when but it will make the tech stock crash of 2001-03 look like small fry and take years to recover.

A great quote from Warren Buffet - "Nothing sedates rationality like large doses of effortless money". How true is that when it comes to cryptos!

[acegooner]

.

[acegooner]

Very results orientated thread this one, a flurry of activity when the prices recover but nothing when the prices are tanking. I still won't buy cryptos because they are overvalued, have no transparency and the are relentlessly ramped on SM by people who have a vested interest in newbies buying at inflated prices especially ico's.
 

Quite the contrary. In fact, when this post was extremely active crypto sunk so hard it hurt. No posts were then made for about 3 weeks apart from news bot tighty in which time my portfolio and many others have risen 30-60%. When you post something like this it just discredits what I think about your other posts, and I am one for trying to take both sides of the coin. All of my posts and ramblings have opened up about all the negatives and hurdles crypto currently faces.

I'm still for buying tech stocks, took a punt on a company called EGS that operate in the automated back office market. Robotics and AI will huge wealth creators for people who back companies early. At least you know what you are buying with company stocks.
 

Good for you and good luck. At least you know what you're buying, because clearly nobody in crypto has a clue.

Ohh and no one can steal your shares, unlike cryptos that you need to go through ridiculous processes to secure your currency and prevent criminals from hacking into your wallets and making off with the proceeds.
 

Yes, I have to agree, it is not anywhere near as safe as it should be. This is because markets and trading sites aren't regulated and this area is very new. If you're smart and know what you're doing and take all of the necessary steps it's so unlikely you're going to be unsafe. Who do you think pays when idiot Joe next door gets £10k stolen from his bank account because his computer is infected after downloading seal porn? Don't say the bank, because the bank doesn't pay .

A lot of people who have got into this space, know nothing about investments. The lesson will be learned the hard way, history has a habit of repeating itself. 1928, 1987, 2001-03, 2007-09.

I finally agree with something you say, a lot of people do indeed have no clue what they are doing. You will find that there are lots of big private groups of friends and what not follow each other with what coins they buy and how they split their portfolio. Mostly it will just be say 5% of the group doing all the work and others following suit. If you are following smart people then you will be ok, but if you're not smart enough to know if the guys suggesting what to do are smart or not, you're in trouble.

I do believe that there will be many crashes along the way and probably a really nasty one that could take a year to recover. The market is currently very over-valued depending how you look at it but the markets are based more on future value and implementation. This may sound like a way that I am trying to justify the value of crypto but it's true. There have been many crashes in the past and huge swings time and time again.


Please be a little open minded and don't just disregard it all as nonsense, greed and a market full of idiots. The way you come across is that you are being a stubborn and closed-minded individual and I can accept that attitude if you have a past background in investments and are refusing to even scratch the surface of crypto.

I am not close minded, I have worked in the Financial Services industry (and have professional quals) for decades and seen all of this before. There is going to be a crash, who knows when but it will make the tech stock crash of 2001-03 look like small fry and take years to recover.

A great quote from Warren Buffet - "Nothing sedates rationality like large doses of effortless money". How true is that when it comes to cryptos!

I defy anyone to come on this thread and give a rational argument for holding cryptos, apart from it being nothing more than a pure punt. With the recent rise in BTC, its market cap is now more than half the FTSE100 constituents. Sorry for me the emperor really has no clothes on.