Cryptocurrency

[psychocandy]

Had a look at these just now, so for Bitcoin purchases you have to pay %4 to %13 fees when buying (we talking around £200 per purchase and you are also limited on how much you can spend, from £500 to £2000, so more transactions more fees), slightly less when selling, buy sell usually has over £200 difference. Looks like a better investment would be in installing a BTC ATM. Do nothing and get £200 a pop and Bitcoins which would give you bigger profit in the future.

Ah right those are the fees for using the ATM? Which I guess the machine owner gets.

There are a few in shops in Cardiff so I guess its a nice little earner them if BC takes off a bit more.

[psychocandy]

The more I look into this the more it seems this will all end very badly.

I was watching user (traders') posts on Poloniex yesterday and some of them were complaining that they couldn't extract their funds back out.

Just went on and immediately saw these posts today:

heroes4486: Xoblort, my usdt withdraw has been 18 hours and still no confirm?

and another :
AlbertAltcoin: lionardben211, Mine has been pending for over a month, they have a long queue

Not sure anyone should celebrate until you can get your funds out and into "real" or physical assets or just spend the damn money.

Yeh I was thinking the same. All well and good to think yay I've made £10K but wouldnt be happy until I saw it in £.

Then again maybe its similar to people in the past who wouldnt be happy unless they had cash. After all, these days no-one would be twitchy if they had £10K veirtually in a bank rather than on the mantlepiece in notes.

[psychocandy]

The UK bitcoin exchanges are a rip off. I moaned to them once, I think it was coinbase or something. The reply was 'we have our overheads' - bye!

Seriously use bitsquare.

Definite minefield for us in the uk....

[jimjamuk]

Will probably flog my last Bitcoin on localbitcoins at these prices although its climbing again this morning - I expect its trying to reach the $2k mark and will fall back

[scooterscot]

Scoots have you actually tested getting £ back out of any of these transactions?

I have used SEPA once but not comfortable with it. Especially if we win big time. Would rather several options. One of the most amusing would be drive over to Switzerland and buy gold directly with bitcoin.

[scooterscot]

Definite minefield for us in the uk....

How come?

[scooterscot]

Will probably flog my last Bitcoin on localbitcoins at these prices although its climbing again this morning - I expect its trying to reach the $2k mark and will fall back

Send your bitcoin to me:

16ngWqZbosnS1bQbhxiKSoAn9fiN6GnjRL

and I'll give you the market value in GBP...

[scooterscot]

Siacoin is one I'm watching with interest, bought a million of them yesterday. Siacoin is Dropbox without the data in one location. Also it is distributed over many machines (encrypted of course from source) with no single point of failure.

Check it out: Sia

See dat up 34% since that post. Man I'm on fire.

http://coinmarketcap.com/currencies/siacoin/

[MrMarkyMark]

See dat up 34% since that post. Man I'm on fire.

Siacoin (SC) $0.005586 (35.78%) | CryptoCurrency Market Capitalizations

Looking at this post, I believe people will think you are real fire when you have actually cashed a decent sum out .

I know people that have with actual Bitcoins, not any of these other crypto currencies.

Even then, I also know someone who lost £140K with Mount Gox, when trying to exchange Bitcoin to Fiat, as I have discussed before.

[psychocandy]

How come?

Trying to work out best place to buy..... i.e cheapest/least hassle