What is Ethereum and how come it's shares have sky rocketed?
Discussion
Hamsterdam said:
But you can't buy ETH from Localbitcoins.
I don't know of any alternative to Coinbase.
www.kraken.comI don't know of any alternative to Coinbase.
Been using these guys for fiat -> ETH or others since July last year. All good on the whole. Support calls are answered, which is more than I can say for Poloniex. Pie shop.
JamieBeeston said:
or just use a trading platform, this way you don't need to hold the coins, and thus have no liquidity issues.
Until the platform goes tits up with all your funds in it. You then have plenty of liquidity issues to deal with 
I wouldn't hold any substantial amount of any coin at these places for more than the absolute minimum. The risk is high and tangible.Behemoth said:
JamieBeeston said:
or just use a trading platform, this way you don't need to hold the coins, and thus have no liquidity issues.
Until the platform goes tits up with all your funds in it. You then have plenty of liquidity issues to deal with I wouldn't hold any substantial amount of any coin at these places for more than the absolute minimum. The risk is high and tangible.JamieBeeston said:
The one I use is FCA regulated with all client money segregated in an entirely separate account
Coinfloor? It ain't no bank. No crypto exchange is. For me, one of the key points of cryptocurrency is that it disintermediates the existing financial system, its failure points and its inflated fee structures. No government can QE your cash to oblivion and no company (bank) can fail and take your cash with it. You can and should keep your own coins without needing some other entity to hold your hand for you. If you don't have your wallet's private key, ultimately the coins are not yours.
Behemoth said:
You can and should keep your own coins without needing some other entity to hold your hand for you. If you don't have your wallet's private key, ultimately the coins are not yours.
Whilst that may be your motive, You seem to be disillusioned that I want or care about the coins,I dont, I'm trading the crypto markets to make a profit.
Try buying and selling 6 figure amounts of real coins daily without running slap bang in to liquidity issues and very large spreads and fees.
and no, not coinbase.
JamieBeeston said:
buying and selling 6 figure amounts of real coins daily
If you're trading large amounts like that daily, then of course you will have to carry counterparty risk. Whether the risk is lessened on a trading platform or more directly on exchanges, I don't know. I suspect a trading platform could be more difficult to untangle to understand what the real risk is. I hope it keeps working well for you.Guvernator said:
Surely that leaves you open to fluctuations in both Bitcoin and Ether. What if you just want to buy Ether?
Intra-crypto transfers happen quite rapidly if funded correctly, so unless you're in the midst of a parabolic ascent/descent you'll be ok.If you want to buy Ether directly, use an exchange that caters for it.
The Spruce goose said:
I think its fair not to hold significant coins on exchanges, unless you trade everyday, but I would still spread the risk on a few exchanges. It you have 6 figs I am sure there are a few dark pool trading options available.
For any exit strategy -> fiat, you'll need multiple options. I haven't quite worked out how, if it all went tits, the exchanges would fund all the withdrawals given the price hikes and that I've no real idea what these exchanges could put up as collateral that a normal bank would entertain.... apart from BTC, if it were a Japanese bank.I'm sure they'll be a bank somewhere that would do it, but it could get very interesting if there was a mass run for the hills.
JamieBeeston said:
or just use a trading platform, this way you don't need to hold the coins, and thus have no liquidity issues.
http://etoro.tw/2sh6KiU
(Yes, Its a referral link!)
Thanks.http://etoro.tw/2sh6KiU
(Yes, Its a referral link!)
The Spruce goose said:
i started a post about 3 months ago as i entered the market.
it is so far pie in the sky it is unreal, but that is good as people underestimate it and therefore missed the opportunities the crypto world brings.
Eth or ether is a asset and platform first used as a currency second. the value it offers is pretty high, when you start seeing billionaires investigating 10% of there capital in this world, you take it seriously.
whilst people focused on bitcoin, eth has jumped to 2nd place and bitcoin has dropped nearly 20% ,market share in 2 months, the market is now worth 35 billion and grown 50% in last 4 months.
it it isn't binary no where near close, but the market can strip your money faster than you can blink.
i trade a bit on poloniex, biggest exchange, there is a lot of stuff going on at moment. i invested my money in mining the coins, about 3k so far.
For example i bought ethereum at about 14 dollars feb, now worth 70 dollars. unfortunately i sold before big jump.
Please please tell me you held!it is so far pie in the sky it is unreal, but that is good as people underestimate it and therefore missed the opportunities the crypto world brings.
Eth or ether is a asset and platform first used as a currency second. the value it offers is pretty high, when you start seeing billionaires investigating 10% of there capital in this world, you take it seriously.
whilst people focused on bitcoin, eth has jumped to 2nd place and bitcoin has dropped nearly 20% ,market share in 2 months, the market is now worth 35 billion and grown 50% in last 4 months.
it it isn't binary no where near close, but the market can strip your money faster than you can blink.
i trade a bit on poloniex, biggest exchange, there is a lot of stuff going on at moment. i invested my money in mining the coins, about 3k so far.
For example i bought ethereum at about 14 dollars feb, now worth 70 dollars. unfortunately i sold before big jump.
Edited by The Spruce goose on Saturday 29th April 19:24
HorneyMX5 said:
I read the whole of this thread and didn't understand any of this. Probably not a place for me to try making a quick buck. Lol
Download an App Called CoinBase, created an account, get verified and then buy what you can afford to lose.If the value of 1 etherum ever reaches the value of a BitCoin you'll be laughing.
Joeguard1990 said:
HorneyMX5 said:
I read the whole of this thread and didn't understand any of this. Probably not a place for me to try making a quick buck. Lol
Download an App Called CoinBase, created an account, get verified and then buy what you can afford to lose.If the value of 1 etherum ever reaches the value of a BitCoin you'll be laughing.
HorneyMX5 said:
Downloaded. I'll have a read up of the fees etc tonight. Got about £1k I could happily risk but need to look at how much I'd need it to grow before pulling out would be break even.
had similar thoughts to you. Was thinking about having a punt with £1k but prices are already at around $300 so even if it went up by another 300% you'll make a couple of grand, nice enough but not exactly life changing so is it really worth the risk? I fear I've missed the boat on this one too, anyone who bought them when they were $10 dollars and kept them must be laughing.Guvernator said:
HorneyMX5 said:
Downloaded. I'll have a read up of the fees etc tonight. Got about £1k I could happily risk but need to look at how much I'd need it to grow before pulling out would be break even.
had similar thoughts to you. Was thinking about having a punt with £1k but prices are already at around $300 so even if it went up by another 300% you'll make a couple of grand, nice enough but not exactly life changing so is it really worth the risk? I fear I've missed the boat on this one too, anyone who bought them when they were $10 dollars and kept them must be laughing.Guvernator said:
anyone who bought them when they were $10 dollars and kept them must be laughing.
I bought @ ~£8 but I remain puzzled rather than laughing. This is what I read back then: https://www.ethereum.org/ether . 3/4 of the way down, it's still there in black & white:ethereum.org said:
Ether is to be treated as "crypto-fuel", a token whose purpose is to pay for computation, and is not intended to be used as or considered a currency, asset, share or anything else.
It's important to understand Ethereum as a viable crypto technology does not depend on the value of Ether at all. Ethereum is being used in private situations where the currency used as fuel for the blockchain is not Ether at all. So, be warned, owning Ether is not giving you a share in Vitalik Buterin's invention. At best it's a punt in a chaotic and irrational market.HorneyMX5 said:
I'm looking pretty short term to be honest. A quick £500 would do me. Anymore than that I would leave in long term and see what happens.
I'm in in for the long run. No going to pull out until values reach $1000.Brexit should help boost digital currency especially against the pound in the next few months so now is the time to buy.
Gassing Station | Finance | Top of Page | What's New | My Stuff