Cryptocurrency

[scooterscot]

Already bought stellar a few days ago, so hopefully you're right. Taken a punt on Numenaire on your advice, so you best had be.

Ethereum classic shooting up over the last hour or 2, bought that a few days ago too.

Hold Stellar for the month of September - you'll not be disappointed.

Numenaire should deliver before Sep 10th.

Ja EC was expected to jump.

[scooterscot]

Hum. You don't think the steep rise since 1/1/17 is something of a bubble rather than a trend?

https://www.xe.com/currencycharts/?f...o=USD&view=10Y

What you see there is fiat currencies being printed against one where QE is not possible. It is the gold standard all over again.

Bought into bitcoin earlier this year around £700 - people thought I was mad. Expect Bitcoin to touch $5k before the end of next week.

[BR14]

What you see there is fiat currencies being printed against one where QE is not possible. It is the gold standard all over again.

Bought into bitcoin earlier this year around £700 - people thought I was made. Expect Bitcoin to touch $5k before the end of next week.

i still can't bring myself to trust it. - it looks like all you've got are a load of magic beans that you can't actually ever cash in or spend anywhere you chose. So any 'profit' is totally imaginary.

[filthy1980]

i still can't bring myself to trust it. - it looks like all you've got are a load of magic beans that you can't actually ever cash in or spend anywhere you chose. So any 'profit' is totally imaginary.

not true

I bought £1000 worth of bitcoin about 3-4 year ago, I've spent about £6k worth over the last few months in the real world on tangible goods

[scooterscot]

i still can't bring myself to trust it. - it looks like all you've got are a load of magic beans that you can't actually ever cash in or spend anywhere you chose. So any 'profit' is totally imaginary.

https://www.tenx.tech

You can order a debit card right now and spend your gains as you please. This company is actually Dash in a cunning disguise.

[Drei]

So Scoot, LTC is $80+. Didn't you said that you gonna retire if it hits $100?

[scooterscot]

So Scoot, LTC is $80+. Didn't you said that you gonna retire if it hits $100?

I was page 4 on the LTC rich-list

Taking some out the now. The rest I'm just going to look at and drool... bought in at $9 two / three months ago. Insane.

[saptastic]

not true

I bought £1000 worth of bitcoin about 3-4 year ago, I've spent about £6k worth over the last few months in the real world on tangible goods

Did you cash it in or buy products direct from your crypto wallet?

[Drei]

I was page 4 on the LTC rich-list

Taking some out the now. The rest I'm just going to look at and drool... bought in at $9 two / three months ago. Insane.

OI... LTC wasn't $9 three months ago, if it was I would have got in. It was $9 back in beginning of April.

I never jumped on the train man, had a mate of mine that heard me talking and he did. Didn't put too much but he is making a profit. With Crypto I am a sceptic, I still don't get the value of it, after all you can just make another BTC just like the many other Alt Coins and carry on.





There are too many things wrong with the way BTC is going, many people buying in don't even understand how it works.

If I start using BTC as a form of day to day currency, I would not be able to afford the transaction fees alone, especially as the value of BTC goes up, the transaction fee VS the goods I am buying will not make it worth it.

For example, my wallet can have an infinite amount of FIAT going through it without any penalty to me, sure it my get wear and tear but I can get a new wallet and carry on. Imagine if I went to my local corner shop to buy bread and milk, let's say valued at $2.50 and the moment I try to pay for it they tell me, "WAIT!!! The total cost now is $10". I ask them why? They say "Well because you have lots of $0.10s in there so we now need to recount everything making sure that the $2.50 is validated and real". I am going with $$$ because I can't be bothered to convert it to GBP.

The more transaction your BTC wallet has in its history, the more bytes for your next transaction as it has to re-calculate all of the previous transactions making it a large transaction, therefore if I went to my local shop to buy milk and bread using my BTC wallet, I would get charged a huge ******* fee. Even if my wallet was pretty clean, the standard transaction fee would still be $5.25... so my break and milk became a $7.75 purchase.

How the **** does that make sense to anyone?

Lets assume that all my transactions are average. An average transaction according to Google takes 258 bytes. The average transaction fee is 420 satoshi per byte. So 258 * 420 = 108360 Satoshi = 0.00108360 BTC = $5.25 Sure it is great paying $5.25 if I am sending $10000000000 but not so great when I want to use it for buying day to day goods.

If you pay less than 420 satoshi/byte for your transaction it goes all the waaaaaay down to the bottom of the list. If you just want to pay the normal price on the item purchased, you need to trade with wallets that charge 0% fees, this most likely means that your transaction will NEVER be processed, what is the incentive for the miners to do so if they get nothing in return? Can you still buy your milk and bread while you wait forever for the transaction to get processed?
You can pay a lot more than $5.25 to get your transaction much faster, right now the top fees are sitting at around 520 satoshi, not a huge difference for 0.00134160 BTC at $6.50. What happens if BTC does go up to $10,000? You gonna pay $11 per transaction? What about a large transaction at 3500 satoshi because you have received a large number of small transactions costing you 0.01470000 BTC. Total cost for milk and bread at $71 fee + $2.50 milk & bread = $73.50, what a ******* bargain?

At the end of the day banks and credit cards take their fees from your interest (less interest on your saving and more interest on your loans) but what if they started taking money out of your account for every single transaction going through it and even more for each transaction because you had your account with them for years and years and you had millions of small transactions going through. What happens if the banks and governments go buts because BTC is taking over the world... who will give people loans and help them out? I imagine scoot would become a bank giving money out but how would you track the people and go after them considering the whole anonymity thing?

[scooterscot]

OI... LTC wasn't $9 three months ago, if it was I would have got in. It was $9 back in beginning of April.

I never jumped on the train man, had a mate of mine that heard me talking and he did. Didn't put too much but he is making a profit. With Crypto I am a sceptic, I still don't get the value of it, after all you can just make another BTC just like the many other Alt Coins and carry on.

There are too many things wrong with the way BTC is going, many people buying in don't even understand how it works.

If I start using BTC as a form of day to day currency, I would not be able to afford the transaction fees alone, especially as the value of BTC goes up, the transaction fee VS the goods I am buying will not make it worth it.

okay 3-4 months ago. Time flies in my head.

The transaction fees have nothing to do with the value of bitcoin. The fee is proportional to the transaction time.

https://bitcoinfees.21.co

You sound bitter.

Don't say I did not warn you. This time next year a single bitcoin is likely to be around £50k