Crypto Currency Thread

[Behemoth]

NickCQ said:

Bringing things a little bit back on track, what's the current status on Lightning? How far away from being suitable to retail adoption is it?

It's still in the testing and experimental phase, but everything is building well. The infrastructure is building very nicely, but has quite a way to go before any meaningful retail adoption. A new forest of apps is being built on top (they've been labelled LApps, good summary here https://coincentral.com/an-introduction-to-lightni... ) with a host of functions. Many will go nowhere but there are some interesting bright ideas.

There's a generational difference in LN development. Bitcoin dev code commits are typically delivered by old skool cypherpunks, whilst LN dev teams are young guns in their 20s. You see it in the quality of the interfaces, the focus on mobile.

[NickCQ]

Behemoth said:

NickCQ said:

Bringing things a little bit back on track, what's the current status on Lightning? How far away from being suitable to retail adoption is it?

It's still in the testing and experimental phase, but everything is building well. The infrastructure is building very nicely, but has quite a way to go before any meaningful retail adoption. A new forest of apps is being built on top (they've been labelled LApps, good summary here https://coincentral.com/an-introduction-to-lightni... ) with a host of functions. Many will go nowhere but there are some interesting bright ideas.

There's a generational difference in LN development. Bitcoin dev code commits are typically delivered by old skool cypherpunks, whilst LN dev teams are young guns in their 20s. You see it in the quality of the interfaces, the focus on mobile.

Sounds promising, cheers.

[James_B]

Behemoth said:

If you seriously believe a brazen attempt to discredit someone by implying false association via a loaded question is not ad hominem, then maybe we should be questioning your integrity rather than mine

I don't remember calling anyone an idiot in this thread, at least not recently.

Thank you, Dimots.

You used it only a few posts up about the quote.

And if you think that it’s a loaded question you could happily say that no, you are not a conspiracy theorist. It seems that you may well be at this point. That’s not the reason that I think your posts make little sense, by the way, it’s just an interesting point to note, that the crypto proponents often display the same thinking as conspiracy theorists.

I find conspiracy theorists interesting, unlike their theories.

Conspiracy clustering is well known and documented, I’ll not be surprised if there’s a heavy overlap with proselytising cryptocurrencies.

Apologies if you aren’t one, but most who are not would happily say so.

[Behemoth]

James_B said:

You used it only a few posts up about the quote.

You invented this and are perpetuating it. Say it often enough and you hope the discrediting sticks. It's really poor debating tactics.

[James_B]

Behemoth said:

You invented this and are perpetuating it. Say it often enough and you hope the discrediting sticks. It's really poor debating tactics.

You said it’s a shame that they couldn’t get anyone more intelligent, which is insulting them.

Come on champ, if you can’t make better arguments at least try to be honest.

Now, which conspiracy theories do you believe in? Chemtrails and Bilderberg, or as being anti-vac more your thing (of course the nuts call it pro vaccine safety...)

[Behemoth]

James_B said:

You said it’s a shame that they couldn’t get anyone more intelligent, which is insulting them.

Come on champ, if you can’t make better arguments at least try to be honest.

Now, which conspiracy theories do you believe in? Chemtrails and Bilderberg, or as being anti-vac more your thing (of course the nuts call it pro vaccine safety...)

You're at it yet again. Your ad hominems are wearing thin, James.

No, you completely misinterpret my statement. David Gerrard is a well regarded crypto sceptic and you'd be confounded to learn that I agree with quite a bit of what he says and enjoy much of what he writes (his outright ranting aside). Someone peddling an art token ICO is simply not in his league. I'd prefer to hear someone of substance on the other side of the debate.

Of course any new concept on this scale has its fair share of extremists and charlatans & we all tire of them. The early days of the internet was very much the same. Don't keep trying to tar me with that brush. If you focus on substantive matters directly relevant to Bitcoin & the other crypto currencies, everyone here will have a much better thread to read.

[g4ry13]

I currently hold a bunch of crypto which I bought on Kraken. I was transferring money to Kraken using Revolut which worked great and able to withdraw from Kraken too – (this was in Euros because that’s what Kraken was offering at the time for a fiat deposit option).

The other night I tried to send money across to Kraken with Revolut when I was rather surprised to discover that Revolut have blocked these transfers. I did a little bit more research and it seems that Revolut implemented this about 6 months ago but I didn’t notice until now as I don’t do it often and Revolut didn’t send out anything about it. Once Revolut started pushing out their cryptocurrency ‘investment’ option they weren’t interested in dealing with cryptocurrency exchanges.

After a bit of research I saw that people were suggesting using Fire.com (Irish regulated bank available as an app) to receive the funds from Kraken. Then send from Fire to Revolut, convert the euros to £ and transfer to Bank account. It looks like that may be one way around it although I am not sure whether I can top up Kraken using Fire and will have to test it. The app for Fire only had a few thousand downloads so it’s not as reputable as Revolut.

Are people using different exchanges which Revolut have not blocked? I thought I read that Revolut still work with Bitstamp. I don’t want to open another account with an Exchange only to find they’re blocked too.

I would rather avoid sending to my current account because of the wire fees + currency transaction costs and pitiful exchange rate which my bank gives me. An option is to open up a Euro account with my Bank and receive the Euros. Then I guess I’d send to Revolut, convert to £ and then send back to my current account.

Another option when the time comes is to sell my crypto, convert to Bitcoin and then offload it on another site. Or worst case go to a Bitcoin ATM. Or if it’s widely accepted at that time I can use it to buy things with. Part of my initial thoughts with the cashing out issue in future was if crypto became adopted in the mainstream then it would be easier to do something practical with it.

How are people depositing money on exchanges from the UK and liquidating their coins these days?

At the end of the day, the difficulty of sending money to Kraken money may save me some money in the long run if crypto becomes worthless. It is still a slight concern about how I may be able to turn a potential large sum of money sitting on an Exchange into money in my account if/when the time does come.

[Behemoth]

g4ry13 said:

The other night I tried to send money across to Kraken with Revolut when I was rather surprised to discover that Revolut have blocked these transfers.

Yes, Revolut tightened their laces recently after finding some shady dealings and telling regulators about it (it's not clear whether it was anything to do with crypto, but their automated flags for suspicious activity were improved as a result). https://www.businessinsider.com/revolut-discovers-...

Interesting it's a problem with Kraken. They are in the middle of a battle with regulators in New York and are upping the ante. I don't know if this is related to your issue. https://virtualmarkets.ag.ny.gov/ . There are some nice charts in there about which exchanges do what to follow AML KYC. I suspect the ones with the relevant boxes ticked will pass Revolut's new muster. Your best bet is to check the Revolut or crpto exchange user forums.

[anonymous-user]

Behemoth said:

Of course any new concept on this scale has its fair share of extremists and charlatans....

....said the great white prophet of Crypto.

[tumble dryer]

rockin said:

Behemoth said:

Of course any new concept on this scale has its fair share of extremists and charlatans....

....said the great white prophet of Crypto.

Brilliant.

Contribution of the year.

[syko89]

Some serious FOMO kicking in for XRP this week, looks like it's about to overtake ETH.

[anonymous-user]

''So far, no banks have been announced that are testing the product. Yet, earlier this year, Brad Garlinghouse, CEO of Ripple, said:

I’ve publicly stated that by the end of [2019] I have every confidence that major banks will use xRapid as a liquidity tool.''

ripple make more money selling xrp than any settlement tool.

[Guvernator]

syko89 said:

Some serious FOMO kicking in for XRP this week, looks like it's about to overtake ETH.

Once again I have no idea why they've gone up again but I have a small holding of Ripple so this is good news. Saying that the recent rises have only just taken it back up to what I bought them for so not in profit yet but hopefully there is some way to go.

[CryptoSuperDave]

g4ry13 said:

..to discover that Revolut have blocked these transfers. ..Are people using different exchanges which Revolut have not blocked? I thought I read that Revolut still work with Bitstamp. I don’t want to open another account with an Exchange only to find they’re blocked too.

I used to use GB Bank > Revout (GB to EUR) > Fire > Coinbase
But now Revolut allow EUR to Coinbase - however, be warned that Revolut GBP to Coinbase doesn't work , as the unique code gets changed by revolut when you send -
I tried this twice and revolut help were not able to help, their system changes the code you enter! . (they basically cut off the beginning of my code and added RVxxxxx to the end of it .. (where xxxxx was my account number) .. they kept blaming me for it being changed but its the revolut system, as I proved to them in my final transfer, all they said was ok thanks for letting us know..

So I continue to just use the Revolut EUR to Coinbase EUR account as Revolut doesn't change the code you enter for EUR transfers

this works fine,i did it just yesterday (revolut to coinbase) and bought more BTC 30mins before the micro pump..
you can also use other GBP banks - but the liquidity is very low for BTC/GBP , BCH/GBP etc on coinbase - would stick with EUR to be honest..

If you don't use Coinbase be wary of using the simple buy BTC options,.. they charge you market taker fee/excessive - cheapest way to use coinbase (for free!) is once your EUR is in the account/Coinbase wallet - go straight to pro.coinbase > from there you can transfer your internal wallet/GBP to pro coinbase and then buy BTC with 0% fee as 'market maker' (market maker is 0% , market taker they charge %) - and from pro.coinbase you can then send your BTC/BCH etc for free to anywhere you like.. I buy this way so I pay 0% on GBP to EUR with revolut, I send from rev to coinbase, which completes in c2 hours .. transfer to coinbase pro and buy btc for 0% and then send out form coinbase to another market for 0 fee, which is where I trade (buy other coins etc) .. it means buying/moving crypto for zero additional cost

[CryptoSuperDave]

Guvernator said:

Once again I have no idea why they've gone up again but I have a small holding of Ripple so this is good news. Saying that the recent rises have only just taken it back up to what I bought them for so not in profit yet but hopefully there is some way to go.

congrats, I think it's to do with xRapid, which I believe they are working with using for a number of banks.. I bought xrp last year for 18c, sold at $1.50ish.. I meant to buy more back the other week as the chart looked nice at about 24cents I think it was? - but went for other things.. its overtaken ETH as #2 marketcap now but i'd be wary of ripple (personally i don't like them shady fkers) .. its centralised st and they have to power to print as many xrps as they please as/when they want..(not to mention freeze/seize accounts which they have done in the past).. i'd be looking to take profit myself if I was lucky enough to be back in now!!

[anonymous-user]

CryptoSuperDave said:

Guvernator said:

Once again I have no idea why they've gone up again but I have a small holding of Ripple so this is good news. Saying that the recent rises have only just taken it back up to what I bought them for so not in profit yet but hopefully there is some way to go.

congrats, I think it's to do with xRapid, which I believe they are working with using for a number of banks.. I bought xrp last year for 18c, sold at $1.50ish.. I meant to buy more back the other week as the chart looked nice at about 24cents I think it was? - but went for other things.. its overtaken ETH as #2 marketcap now but i'd be wary of ripple (personally i don't like them shady fkers) .. its centralised st and they have to power to print as many xrps as they please as/when they want..(not to mention freeze/seize accounts which they have done in the past).. i'd be looking to take profit myself if I was lucky enough to be back in now!!

But once again, isn't this announcement to do with the actual Ripple network rather than using the XRP coins? The coins are completely useless and as you say not decentralised (isn't this one of the big arguments for adopting crypto in the first place?)

Amazing how something can increase in value by 50% in one day with just a few twitter messages and nothing of any substance to show for it.

I suspect that the whales will try and take their profit all at the same time and will return back to 25c.

[Guvernator]

CryptoSuperDave said:

congrats, I think it's to do with xRapid, which I believe they are working with using for a number of banks.. I bought xrp last year for 18c, sold at $1.50ish.. I meant to buy more back the other week as the chart looked nice at about 24cents I think it was? - but went for other things.. its overtaken ETH as #2 marketcap now but i'd be wary of ripple (personally i don't like them shady fkers) .. its centralised st and they have to power to print as many xrps as they please as/when they want..(not to mention freeze/seize accounts which they have done in the past).. i'd be looking to take profit myself if I was lucky enough to be back in now!!

It's all dead money as far as I am concerned tbh. I could cash out and make a bit or quite a lot if they ever go back go up to previous highs but I'm in it for the long haul. I'll let it ride and see where this crypto thing goes. My thinking is the fact that it is centralised might mean more legitimate institutions actually take it up as opposed to some of the more dodgy coins.

Saying that it would make a nice bonus for Christmas so you never know.

[James_B]

Behemoth said:

You're at it yet again. Your ad hominems are wearing thin, James.
.

Not ad hominems. You insulted his intelligence while whining that others did the same.

You have to understand, you are dealing with intelligent people, you don’t get to redefine terms and expect that you’ll not be pulled up on it.

I think that your ramping of cryptos is idiotic.

I suspect that you are a conspiracy theorist.

I a, not using the second point to justify the first.

[Behemoth]

James_B said:

Not ad hominems. You insulted his intelligence while whining that others did the same.

You have to understand, you are dealing with intelligent people, you don’t get to redefine terms and expect that you’ll not be pulled up on it.

I think that your ramping of cryptos is idiotic.

I suspect that you are a conspiracy theorist.

I a, not using the second point to justify the first.

Who's intelligence did I insult? How, exactly? I did absolutely no such thing and you cannot possibly defend a repeated false accusation like that.

The only idiocy here is your behaviour and the only conspiracy theory evident is the one you hold against me. Stop being a tt, please.

[dimots]

Has anyone got any thoughts on the Bakkt thing that's coming up in November? Like to what extent they are partnered with Starbucks and Microsoft? Sounds like a bad mix to me, but possibly good for adoption?

I am registered for updates but haven't heard much. At first I thought it was like Bitpay but it seems they will hold btc themselves...maybe reducing exposure to fee volatility?