Bitcoin et al

[Iamnotkloot]

There's a lot of angst between different crytpocoin advocates but I don't see why you can't have/support more than one. I'm big into Ripple (and it's done me very well) but I also have a little Stellar, a BTC (literally one!) and have been in and out of Ethereum recently (wish I'd stay in for today's rises!).
I'm quite tempted to have an even spread of my money across the three biggies (Eth, BTC and Ripple) to hedge my bets more - still, very interesting times in the alt coin market. Feels like the Wild West!

[anonymous-user]

i agree , i just find the btc crowd so staunch, like chemical ali, denying any issues whilst the market share is being eaten up.

Mine are decred, btc, eth , edgeless and some others. i don't get too attached , i mine as well which is quite profitable as well as demand for all coins is clearly up.

i originally bought 31 eth in march but sold them way too early, would have been worth about 5.5k now lol

[Iamnotkloot]

The Spruce goose said:

i agree , i just find the btc crowd so staunch, like chemical ali, denying any issues whilst the market share is being eaten up.

Mine are decred, btc, eth , edgeless and some others. i don't get too attached , i mine as well which is quite profitable as well as demand for all coins is clearly up.

i originally bought 31 eth in march but sold them way too early, would have been worth about 5.5k now lol

I'll cheerfully admit to not knowing what Edgeless and Decred were but looked them up - they appear to be doing pretty well and you've got to be happy with today's performance on Edgeless.
An amazing amount of money has come into all the Cryptos lately, total market cap now nearly $80 bn......

[Keldemebeh]

Which platform is everyone using to trade coins? I've looked into investing in different types of coins in the past, but I've been put off by the verification steps - having to provide photo ID and proof of address etc. Are there any trusted, reputable platforms out there?

[anonymous-user]

Keldemebeh said:

Which platform is everyone using to trade coins? I've looked into investing in different types of coins in the past, but I've been put off by the verification steps - having to provide photo ID and proof of address etc. Are there any trusted, reputable platforms out there?

i use

poloniex which seems the safest and biggest but seems to lag badly on big pumps and dumps , random withdrawal delays are a pain sometimes 24 hours, but works well, based in usa seems safe as well
bittrex easy to use no trollbox, based in usa
liqui.io i use to buy ethereum tokens very standard lowish volume but good for tokens and coins not on the other 2

if you want to withdraw more than 2k usd a day then id required but polo can trade without it and others.

Edited by The Spruce goose on Monday 22 May 16:07

[anonymous-user]

Iamnotkloot said:

I'll cheerfully admit to not knowing what Edgeless and Decred were but looked them up - they appear to be doing pretty well and you've got to be happy with today's performance on Edgeless.
An amazing amount of money has come into all the Cryptos lately, total market cap now nearly $80 bn......

edgeless is a long term but ive done well i bought at ico, decred i like the whole idea.

there is a coin for everyone and some cool ideas as well.

[Henrico]

I own eth too and etc and litecoin. All I'm saying is, Ive used bitcoin to buy something and it was great. Pretty sure no one is buying anything with eth. Just selling it on to 'the greater fool'. I.e. Ponzi scheme

[anonymous-user]

[quote=_MIKE_]I can't help but continue to keep holding ??
[/quote]

i would if i was you but i only had 500 dollars to invest, not done too bad so far in 3 months.

[bloomen]

Bitcoin maximalists still might have a point, but they're going to be drowned out in a tsunami of greed. I don't know if this is 'it' but sometime between now and 2020-25 there will be a Dotcom style bubble and it may well dwarf that.

I'd say right now hardly anyone truly understands what they're putting money into, they're just seeing rising numbers on exchanges and pretty much no one's here yet. I'd say anyone who hasn't set themselves a series of liquidation points is going to wind up sad.

Whatever ideals there once were are going to be pooed all over in the rush for riches by people who do not care in the slightest.

[stongle]

The Spruce goose said:

Henrico said:

I'm talking long term here. Also, BTC has a use case (store of value mainly at the moment) and is currently undervalued, Ethereum currently doesn't have a usecase therefore currently is wildly overvalued. Also, to say it's old tech is missing the point, it's the most secure crypto out there by far which is why it takes a long time to get changes agreed. It has far and away the best group of devs working on it who can add features as and when. When segwit activates it'll leave the rest trailing in it's wake..

i disagree with this but only time will tell. i'm not sure what you mean ethereum doesn't have a use case, it is a platform for loads of different stuff, but 1600% growth means it is doing something right. i personally don't care about any of it i i only in it to make money, so don't get hung up on holding coins etc i know one thing i am still waiting on a btc deposit 24 hours later lol

Enterprise Ethereum is widely backed back banks. As a coin, or unit of value possible it is over pumped- but any convergence between public and private blockchain is likely in Ethereum. DAH and hyperledger project are into everything. BTC in possibly too libertarian for the banks.

[anonymous-user]

stongle said:

Enterprise Ethereum is widely backed back banks. As a coin, or unit of value possible it is over pumped- but any convergence between public and private blockchain is likely in Ethereum. DAH and hyperledger project are into everything. BTC in possibly too libertarian for the banks.

the speculation i thought was the movement to pos.

[p1stonhead]

$1500 into bitcoin 7 years ago worth $1.1b apparently!

Even $100 worth $72m!

Insane.

[bloomen]

p1stonhead said:

$1500 into bitcoin 7 years ago worth $1.1b apparently!

Even $100 worth $72m!

Insane.

You probably would've had to mine it to obtain it back then. There was virtually nowhere to buy it as it was effectively worthless. However mining was very easy and could've been done with a laptop.

Here's a fun read - https://bitcointalk.org/index.php?topic=92.0

[g4ry13]

The Spruce goose said:

Keldemebeh said:

Which platform is everyone using to trade coins? I've looked into investing in different types of coins in the past, but I've been put off by the verification steps - having to provide photo ID and proof of address etc. Are there any trusted, reputable platforms out there?

i use

poloniex which seems the safest and biggest but seems to lag badly on big pumps and dumps , random withdrawal delays are a pain sometimes 24 hours, but works well, based in usa seems safe as well
bittrex easy to use no trollbox, based in usa
liqui.io i use to buy ethereum tokens very standard lowish volume but good for tokens and coins not on the other 2

if you want to withdraw more than 2k usd a day then id required but polo can trade without it and others.

Edited by The Spruce goose on Monday 22 May 16:07

Is it safe to send your bank details to these sites? I'd be a little concerned about their security and keeping my information secure.

[bloomen]

g4ry13 said:

Is it safe to send your bank details to these sites? I'd be a little concerned about their security and keeping my information secure.

None of those sites require bank details. They're crypto only with no USD, GBP or EUR. When they say 2k limits that means you can withdraw the crypto equivalent of that valuation.

To raise the limits you need to provide ID.

And you're right not to trust their security. They're currently vast targets for hackers. Poloniex has been hacked in the past but made everyone whole in the end.

Right now I'd go for Bittrex if the coin you want is on there. Poloniex is buckling under the strain,

Edited by bloomen on Monday 22 May 21:03

[stongle]

The Spruce goose said:

the speculation i thought was the movement to pos.

POS? Point of sale? Thought that was ripple. The main application potential I've seen is in custody, trade finance and possibly digitisation of collateral or low latency trading. Any high friction task is a candidate for a smart contract (as and when alarm clock etc come available). Of course this is the ledger systems and not the coins, IMHO buying BTC or ETH is just a way to crystallise upward sentiment into FIAT monies - thank you very much (I've had ETH since Feb 2016). Just got to time my exit right. If they retain worth, that's great too (had a look at mining ETH, seems pretty marginal). It's interesting to see which FIAT monies are backing the cryptos are - I think we'll see much more modelling of px behaviour going forward.

Morgan Stanley produced an interesting piece of analysis last year, the effects of DLT will be felt on bank share price - particularly large G SIB custodians within the next 5 years. The prototype systems I've seen (with real world balance sheet, credit or utility application) are close to realisation. Advanced EM exchanges and markets (less legacy systems to cut through) are already commencing blockchain type trading prototypes (well beyond straw man). Of course the FSB and G20 regulators would argue that no one is asking for DLT trading - we're all happy with T+2. I think the move will be back to front (especially as there are more immediate fish to fry).

Edited by stongle on Monday 22 May 22:01

[g4ry13]

bloomen said:

g4ry13 said:

Is it safe to send your bank details to these sites? I'd be a little concerned about their security and keeping my information secure.

None of those sites require bank details. They're crypto only with no USD, GBP or EUR. When they say 2k limits that means you can withdraw the crypto equivalent of that valuation.

To raise the limits you need to provide ID.

And you're right not to trust their security. They're currently vast targets for hackers. Poloniex has been hacked in the past but made everyone whole in the end.

Right now I'd go for Bittrex if the coin you want is on there. Poloniex is buckling under the strain,

Edited by bloomen on Monday 22 May 21:03

So you can't put money on Bittrex in order to buy coins? Is one merely going to exchange BTC/some other coin for the one of their preference?

I saw the site Cryptomate which lets you transfer from Bank to the site but the prices were at quite the premium compared to the market.

[anonymous-user]

sorry what is DLT and px.

pos was proof of stake, i.e no more proof of work, i.e mining of Ethereum.

the thing i have noticed is a lot of banks are interested in the tech, but end up doing it themselves, Mitsubishi UFJ is looking at its own tech and even digital currency, most of the code is open source anyway (ripple i don't think so).

are there any interesting coins/projects you have an eye on?

[bloomen]

g4ry13 said:

So you can't put money on Bittrex in order to buy coins? Is one merely going to exchange BTC/some other coin for the one of their preference?

I saw the site Cryptomate which lets you transfer from Bank to the site but the prices were at quite the premium compared to the market.

Correct. You'd have to buy a cryptocurrency first and then deposit it on there to trade others. Bitcoin is of course the easiest to obtain.

If you're in the UK then you're going to be paying premiums wherever you go most likely as we don't have a proper exchange.

This aggregates the available prices - http://bittybot.co/uk/buy-bitcoins-uk/

As it's on a run right now it's likely the premiums will be higher than usual.

Bittylicious,com is a great service that also sells ethereum, litecoin and a few others. You may well end up paying through the nose though.

Edited by bloomen on Monday 22 May 23:04

[rufusgti]

bloomen said:

Correct. You'd have to buy a cryptocurrency first and then deposit it on there to trade others. Bitcoin is of course the easiest to obtain.

If you're in the UK then you're going to be paying premiums wherever you go most likely as we don't have a proper exchange.

This aggregates the available prices - http://bittybot.co/uk/buy-bitcoins-uk/

As it's on a run right now it's likely the premiums will be higher than usual.

Bittylicious,com is a great service that also sells ethereum, litecoin and a few others. You may well end up paying through the nose though.

Edited by bloomen on Monday 22 May 23:04

What about selling. Cashing out into £.
I just want to sell some and withdraw the cash while the price is high. But I'm stuck at which platform to start with. Coinfloor account is still suspended even before I've used it.