Cryptocurrency

[scooterscot]

I'm staying away from what I don't understand.

Me too.

Would never invest that much in a single coin. If Bitcoin moves to $20k in a few years you'll be spitting. Remember people said the same thing about it reaching $300 a few years ago.

[diseasex]

Me too.

Would never invest that much in a single coin. If Bitcoin moves to $20k in a few years you'll be spitting. Remember people said the same thing about it reaching $300 a few years ago.

https://en.wikipedia.org/wiki/Tulip_mania

[ChimpMaster]

<snip>

People there's easy dosh to made here. I've already outdone my turnover from last year. MAD.

As previous posters have alluded to here, it's a different mindset when you buy coins at say £0.05 and then watch it go to £5, than when you buy at $20 and have a difficult time watching it go up to $30 and risk it falling to $2.

So I guess the question is "what's the next big thing?" when it comes to the alt coins?

[Drei]

A text file worth more than gold

I'm watching it with interest but will not enter. Not my cup of tea, don't understand it well enough

I am honestly trying to get my head around it. Your bank uses digital coins, transfer between banks is instant, if I transfer 500 right now I can see in in my other bank account (different banks) as credit straight away, you get some added protection, you have chargebacks but that is to protect your money.

I really don't see "my" benefit for cryptocurrency, what would I use it for? Profit making probably.

• Avoid bank charges? Nope because you also get charged for transferring cryptocurrency depending on exchange or wallets used.
• You trying to buy something from Africa or other far far away country? Sure why not use Wester Union... no matter which payment method your money is still gone and you never see it again.
• Genuine business transaction? Why use any cryptocurrency at all?
• Tax avoidance? Sure as it is hard to know exactly what your capital and profit is.. until you try to cash it out. If you really can extract £500k just like that without any red flags popping up everyone would do it. You can track transaction addresses but if you set-up offline wallets not linked to any exchanges where you have to register with IDs how would anyone track it? All they can see is a wallet address ID, no user information whatsoever. Yes they may be able to see that you paid into that wallet but how would they be able to prove that you own the other wallet? The money would still be Monopoly Money without you having physical access to it or be able to spend it.
• Criminal Activity? Of course that's the one!!! Illegal exchanges. You take your device to the meet point and transfer the bitcoins/litecoins right there and then no need for cash in a case/bag, fast easy safe transaction as long as you see the goods and part with them. Even faster now with SegWit implementation. As a criminal you could swap a few bitcoins for some weapons. You can then sell those for $$$ in hand, same with drugs and other illegal products.

[scooterscot]

As previous posters have alluded to here, it's a different mindset when you buy coins at say £0.05 and then watch it go to £5, than when you buy at $20 and have a difficult time watching it go up to $30 and risk it falling to $2.

So I guess the question is "what's the next big thing?" when it comes to the alt coins?

Several banks have already signed up to using Ripple. I don't know why yet that relates to it's price, but value yes. And remember Ripple is in it for the profit, so banks will pass those fees to the customer. Now Stellar is Ripple under another name and is a not for profit organisation, so what's to stop bank using Stellar? After Ripple's hard work? Absolutely nothing. Therefore banks fees could even be lower, or more profit for them.

Litecoin is something to watch. I'd stay away from Ethereum until the price find the mean again.

I love the idea behind Golem - lease your spare CPU time.

MaidSafeCoin - Struggle to believe this little Scottish company has such a market capital. Crazy. If you want to park your wealth somewhere do it here. You'll be paid interest daily what the banks would offer you yearly.

[scooterscot]

Had you put £100 on Ethereum since your last post you'd have taken back £110 right now.


Ethereum ETH $9,384,351,973 $102.55 91,511,799 $141,597,000 11.70% < in the last hour.

And here's me saying stay away from Ethereum. Don't take my advice!

[diseasex]

Had you put £100 on Ethereum since your last post you'd have taken back £110 right now.


Ethereum ETH $9,384,351,973 $102.55 91,511,799 $141,597,000 11.70% < in the last hour.

And here's me saying stay away from Ethereum. Don't take my advice!

Scooter do you know how to mine that maidsafecoin ?

[MrMarkyMark]

Scooter do you know how to mine that maidsafecoin ?

I would forget about mining unless you have a whole shed of online servers.
That was what a friend did, 4 years ago or so he was getting around 1.5 bitcoin per month.

His electricity bill was huge!

[diseasex]

I would forget about mining unless you have a whole shed of online servers.
That was what a friend did, 4 years ago or so he was getting around 1.5 bitcoin per month.

His electricity bill was huge!

Yeah but i want to leave it at work and early adopters farm many of coins

[scooterscot]

I would forget about mining unless you have a whole shed of online servers.
That was what a friend did, 4 years ago or so he was getting around 1.5 bitcoin per month.

His electricity bill was huge!

And if 1.5 bitcoin is worth £20k in a few years?