Cryptocurrency

[Agent]

Zencash is starting to climb 👍

[scooterscot]

https://www.bloomberg.com/news/artic...-says-jal10hxd

His argument is no different for any other currency in the world. It could collapse at any moment.

Governments are threatened by the lack of the control and more so when people begin to use FIAT less and digital currency more. Think about that for a second, what happens to a currency when users grow fewer?

[scooterscot]

Zencash is starting to climb 👍

Hopefully the news of what's being offered gets more attention after the BTC correction.

[SunnyInHades]

What's the use for tulipcoins orher than scam people and facilitate criminal behaviour?

Hull 'ave a libertian altcoin dream, which every tax payer in the UK is contributing to.

Hullcoin | Unlocking the hidden value in Hull's economy

"National Lottery funding, Comic Relief and the DotForge Impact accelerator have all backed the idea."

NOV 24, 2017 ..
attracted UK government funding .. £240,000 is now earmarked to propagate the scheme, which rewards users who perform socially valuable tasks in the local community. Users then benefit from immutable evidence of their work and its impact, recorded on the Blockchain.

"HullCoin is the world’s first Community Loyalty Point. Earn HullCoin by getting involved in great things in your community"
Cheekily, they mine their own coin - aka print their own money. Here's the actual mining rig from a few years ago...



They were subject to a Chinese scam in 2014
"Once-Hyped UK Digital Currency Hullcoin Hijacked By Chinese Scammers"
"According to China News Service and China National Radio (CNR), as many as 500 people in the region lost $1.1m, or 7.1 million yuan, after trying to invest in what was pitched as Hullcoin."

[VirtualMonkey]

lived there (Hull) all my life and never heard of it

[Olly550]

What a great read, been on here for about an hour, so much valuable information

So I have been meaning to get started over the last few weeks, bitcoin looks to have exploded so maybe I should wait for a pullback now ...

I understand that I'm best of buying bitcoin which I can then trade to other coins to diversify.

Which exchange/s are ecommended?

I know that once I buy it need to get the coins off the wallet for safety. But what if I wanted to quickly sell, I guess I have to move back to the exchange which takes time and I could miss the selling opportunity. Would it be safe to leave the coin on the exchange so I am ready to quickly sell ?

Same question for cash. Once I sell I will have USD? in my exchange account. I don't really know much about these exchanges but I know I won't be fscs protected, so is it safe to leave cash on the exchange? If not I will need to constantly be withdrawing/depositing which takes days meaning I'll probably miss opportunities while eaiting, and I have read and costs a lot. I have seen something about USDT which is equal to USD, is it a good idea to change the cash into USDT and then put the USDT in a wallet ? But then what if this USDT becomes worthless ! What do you do to mitigate the risk of the exchange dissapearing with your cash but have the cash ready on the exchange to trade ?

Also, I have read about the bitcoin etf tracker, but I think it doesn't correlate with USD 100%, do any of you guys use this and is Hargreaves Lansdown reccomened ? This would remove the risk of the exchange dissapearing as HL are fscs protected I think. Downside to this is that they don't do any other coins just bitcoin and I think ether but from reading here I understand the potential gains in the other coins can be better.

Really appreciate any advice as my brain is fried from reading over the last few days.

[contractorinatractor]

Also, I have read about the bitcoin etf tracker, but I think it doesn't correlate with USD 100%, do any of you guys use this and is Hargreaves Lansdown reccomened ? This would remove the risk of the exchange dissapearing as HL are fscs protected I think. Downside to this is that they don't do any other coins just bitcoin and I think ether but from reading here I understand the potential gains in the other coins can be better.

Really appreciate any advice as my brain is fried from reading over the last few days.

There's generally no reason to touch HL.
Hargreaves Lansdown are usually the most expensive way to buy and maintain shares/ETFs. People on this forum rave about them. Do the maths and you will quickly find ETF/SIPP will have management charges and fees that will eat away at your earnings over time to such an extent that you will, as a result, refuse to even erect your bargepole towards them.

[Jog On]

Has anyone looked into crypto arbitrage?

Apparently there are big price differences between exchanges at the moment and the opportunities to buy low at one exchange - send to other exchange and sell high are quite abundant.

They'll probably fix it at some stage but right now it's pretty rife...

https://cryptocoincharts.info/arbitrage

People are writing bots to do it automatically even... I can see it ending in tears (accounts banned at exchanges) possibly.

[AtW]

https://bitcoinbubbleburst.github.io/

DOOMED!!!

[AtW]

I can see it ending in tears (accounts banned at exchanges) possibly.

Yeah, that bank-free world free of contractual obligations is so much better - some anonymous "exchange" operator bans your account and you got exactly feck all recourse to law