Crypto Currency Thread
Discussion
DrSteveBrule said:
It's down if you bought at £13 or so. If you got some for less than £5 you're still up. All that's been lost are unrealised gains.
This kind of fantasy accounting doesn’t really help people to be disciplined in their trading. If the asset that you hold has dropped in value then that’s a real loss. Books should be marked to market, not viewed as having some other value that you hope to one day réalisé if the market goes there.Edited by DrSteveBrule on Monday 7th September 15:43
Your way of looking at things is effectively marking to model, which is never the right way to value a liquid product.
g4ry13 said:
I hate how long it takes to move money around 
I've been trying to get money over to the exchange to add more LINK and finally got it across now. Price is up $1.50 from the lows but thinking bigger picture here.
There was a bit of news I read earlier about LINK being used to pay for booking hotel accommodation.
Why so slow? My transfers within the Eurozone or within the UK are of the order of milliseconds now.I've been trying to get money over to the exchange to add more LINK and finally got it across now. Price is up $1.50 from the lows but thinking bigger picture here.
There was a bit of news I read earlier about LINK being used to pay for booking hotel accommodation.
m3sye said:
Anyone in on iota or thinking about them?
I've got a small interest in it, purely by accident.I have a 'free' £75 spend in MS Azure (cloud computing) that I decided to try and put to use a while back, I built a VM and set it up as something on the IOTA field (I cant even remember what it was called) more out of interest and to see if I could make a few free pounds really. Literally a couple of weeks later the 'field' or whatever it was shut down and that was that but they chucked over a few hundred quids worth of IOTA into my wallet, no idea how or why
I've kept an interest in it since (and kept the IOTA), just another piece of crypto that has its fans is the way I see it.
Kent Border Kenny said:
g4ry13 said:
I hate how long it takes to move money around
I've been trying to get money over to the exchange to add more LINK and finally got it across now. Price is up $1.50 from the lows but thinking bigger picture here.
There was a bit of news I read earlier about LINK being used to pay for booking hotel accommodation.
Why so slow? My transfers within the Eurozone or within the UK are of the order of milliseconds now.I've been trying to get money over to the exchange to add more LINK and finally got it across now. Price is up $1.50 from the lows but thinking bigger picture here.
There was a bit of news I read earlier about LINK being used to pay for booking hotel accommodation.
- Deposit funds to Revolut using my debit card (instant)
- Convert £ to € on Revolut (instant)
- Transfer € from Revolut to my € bank account (can take a working day to arrive - I think they send 2 batches of payments per day and if you miss the afternoon one have to wait until next day)
- Transfer € from bank account to exchange (this can also take a day before it shows up in Kraken)
So depending on the time of day I start trying to move money it could take 2-3 days or with a bit of luck maybe a day. If I try to deposit over the weekend then the process doesn't start until Monday.
A few years ago it was very easy that I could just use Revolut to fund my account and it would arrive within a day or so but then Revolut blocked the crypto exchanges. I could bypass Revolut and use my Bank but then they give a crap FX rate and also charge me for the pleasure of it.
g4ry13 said:
This is how I currently fund my account:
- Deposit funds to Revolut using my debit card (instant)
- Convert £ to € on Revolut (instant)
- Transfer € from Revolut to my € bank account (can take a working day to arrive - I think they send 2 batches of payments per day and if you miss the afternoon one have to wait until next day)
- Transfer € from bank account to exchange (this can also take a day before it shows up in Kraken)
So depending on the time of day I start trying to move money it could take 2-3 days or with a bit of luck maybe a day. If I try to deposit over the weekend then the process doesn't start until Monday.
sounds really decentralised and free.from banks, that - Deposit funds to Revolut using my debit card (instant)
- Convert £ to € on Revolut (instant)
- Transfer € from Revolut to my € bank account (can take a working day to arrive - I think they send 2 batches of payments per day and if you miss the afternoon one have to wait until next day)
- Transfer € from bank account to exchange (this can also take a day before it shows up in Kraken)
So depending on the time of day I start trying to move money it could take 2-3 days or with a bit of luck maybe a day. If I try to deposit over the weekend then the process doesn't start until Monday.
Some Gump said:
g4ry13 said:
This is how I currently fund my account:
- Deposit funds to Revolut using my debit card (instant)
- Convert £ to € on Revolut (instant)
- Transfer € from Revolut to my € bank account (can take a working day to arrive - I think they send 2 batches of payments per day and if you miss the afternoon one have to wait until next day)
- Transfer € from bank account to exchange (this can also take a day before it shows up in Kraken)
So depending on the time of day I start trying to move money it could take 2-3 days or with a bit of luck maybe a day. If I try to deposit over the weekend then the process doesn't start until Monday.
sounds really decentralised and free.from banks, that - Deposit funds to Revolut using my debit card (instant)
- Convert £ to € on Revolut (instant)
- Transfer € from Revolut to my € bank account (can take a working day to arrive - I think they send 2 batches of payments per day and if you miss the afternoon one have to wait until next day)
- Transfer € from bank account to exchange (this can also take a day before it shows up in Kraken)
So depending on the time of day I start trying to move money it could take 2-3 days or with a bit of luck maybe a day. If I try to deposit over the weekend then the process doesn't start until Monday.
One could always use another form of crypto eg. BTC, ETH and purchase with that. I happen to use Fiat.
i4got said:
g4ry13 said:
It's the process of purchasing via an exchange.
One could always use another form of crypto eg. BTC, ETH and purchase with that. I happen to use Fiat.
Can't you just use a different bank. I purchased in GBP at Coinbase using both Santander and Monzo.One could always use another form of crypto eg. BTC, ETH and purchase with that. I happen to use Fiat.
I could deposit £. Buy BTC. Sell BTC immediately into $ / € and then buy Chainlink.
The transfer time from my bank to exchange is about a working day at most (unless it's over the weekend). Fortunately i'm not regularly buying things but just a bit annoying that the times i've wanted to buy I missed out on a significant portion of the bounce as I was waiting for funds to move through the banking system.
g4ry13 said:
i4got said:
g4ry13 said:
It's the process of purchasing via an exchange.
One could always use another form of crypto eg. BTC, ETH and purchase with that. I happen to use Fiat.
Can't you just use a different bank. I purchased in GBP at Coinbase using both Santander and Monzo.One could always use another form of crypto eg. BTC, ETH and purchase with that. I happen to use Fiat.
I could deposit £. Buy BTC. Sell BTC immediately into $ / € and then buy Chainlink.
The transfer time from my bank to exchange is about a working day at most (unless it's over the weekend). Fortunately i'm not regularly buying things but just a bit annoying that the times i've wanted to buy I missed out on a significant portion of the bounce as I was waiting for funds to move through the banking system.
ADEuk said:
Can't you just buy ETH on kraken, withdraw to metamask and then swap to link using uni swap? Or is it too much in fees that way?
You make it all sounds so easy. This is the main issue I have with crypto, they make relatively easy to buy (once you have had your account verified with a passport scan) but selling, not so easy.Last time I ended up creating an account on localbitcoins (again more passport verification required) and transferred by BTC from Binance to there. You then contact a buyer on that site (bit like ebay) and once you agree a deal the coins are put in Escrow and once the money arrives in your bank you release them.
Not exactly the sort of thing your average person in the street is going to be happy to do, obviously losiong a bit of your bitcoin each transfer in fees.
ADEuk said:
g4ry13 said:
i4got said:
g4ry13 said:
It's the process of purchasing via an exchange.
One could always use another form of crypto eg. BTC, ETH and purchase with that. I happen to use Fiat.
Can't you just use a different bank. I purchased in GBP at Coinbase using both Santander and Monzo.One could always use another form of crypto eg. BTC, ETH and purchase with that. I happen to use Fiat.
I could deposit £. Buy BTC. Sell BTC immediately into $ / € and then buy Chainlink.
The transfer time from my bank to exchange is about a working day at most (unless it's over the weekend). Fortunately i'm not regularly buying things but just a bit annoying that the times i've wanted to buy I missed out on a significant portion of the bounce as I was waiting for funds to move through the banking system.
you lost me after buying ETH on Kraken. It was honestly enough trouble learning how to buy crypto and withdraw to my hardware wallet.
Maybe it can be done as you said but no idea about the fees. Another thing I don't get is why I have to pay to move coins I have purchased to my wallet. I don't either know about staking or wtf this Livepeer is that I see in my wallet (I know it's linked to my ETH) and whether I should be doing something with it to make money or if it's not worth messing around with.
guindilias said:
Where is DrSteveBrule in these troubled times? Has he retired to the Solomon Islands or something?
Ta da! Still lurking. Sold some to take profit. Wasn't expecting everything to go down as much as it has in all honesty. If Link dips to £5-6 again I'll be buying back.I wonder if the lack of Oracle news is causing upset too; they said they would be integrating Link by the end of Sept. and we haven't heard a word about it.
Meanwhile DeFi is becoming yesterday's buzzword as Link is now talking about use-cases for parametric insurance.
I suspect the remainder of this year will be more of the same and things will start to pick up in Jan.
JPJPJP said:
A frivolous study by Tuur Demeester
“I calculated the Bitcoin circulating supply equivalent of Central Bank gold reserves.“
...
The thing I find most interesting about this is that a 'Goldfinger' gold bar from Fort Knox weighs 400oz, just over 11kg. That is quite a lot of gold in one bar, and my dream of buying one has been extinguished at some £600,000.“I calculated the Bitcoin circulating supply equivalent of Central Bank gold reserves.“
...
Throttle Body said:
The thing I find most interesting about this is that a 'Goldfinger' gold bar from Fort Knox weighs 400oz, just over 11kg. That is quite a lot of gold in one bar, and my dream of buying one has been extinguished at some £600,000.
They have 8000 tonnes of the stuff, they wouldn't even notice if you made off with 11kgs of the stuff.guindilias said:
Throttle Body said:
The thing I find most interesting about this is that a 'Goldfinger' gold bar from Fort Knox weighs 400oz, just over 11kg. That is quite a lot of gold in one bar, and my dream of buying one has been extinguished at some £600,000.
They have 8000 tonnes of the stuff, they wouldn't even notice if you made off with 11kgs of the stuff.It’s built like, well....
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