Crypto Currency Thread
Discussion
Croutons said:
I've got some n00b questions, if anyone is able to help I'd appreciate-
1) Those of you starting with GBP, what are you using to move it to BTC?
2) The same with the onward move to other coins- do you just sign up to a shed load of exchanges and see which is best at the time?
I appreciate it is possible to, for example, change GBP to ETH through the likes of CEX.IO, but the reviews of that are such a horror I'm not going to go near it.
3) Wallets- I've got some Nano's on order, but they don't hold everything. What are you using to hold those outlier coins?
4) Completely random one. Anyone sitting on such a large gain they're considering moving to a lower CGT jurisdiction?!? There's a chap in the flat above where I'm renting a tiny room on the southbank who bought it and another flat in the block with cash converted from BTC, and has paid no tax. HMRC are on to him and he's bricking it. He's 18, and seems to think Reddit users say they paid no tax so apparently it was all "OK", which was clearly a mistake!!
1) Kraken and coinbase1) Those of you starting with GBP, what are you using to move it to BTC?
2) The same with the onward move to other coins- do you just sign up to a shed load of exchanges and see which is best at the time?
I appreciate it is possible to, for example, change GBP to ETH through the likes of CEX.IO, but the reviews of that are such a horror I'm not going to go near it.
3) Wallets- I've got some Nano's on order, but they don't hold everything. What are you using to hold those outlier coins?
4) Completely random one. Anyone sitting on such a large gain they're considering moving to a lower CGT jurisdiction?!? There's a chap in the flat above where I'm renting a tiny room on the southbank who bought it and another flat in the block with cash converted from BTC, and has paid no tax. HMRC are on to him and he's bricking it. He's 18, and seems to think Reddit users say they paid no tax so apparently it was all "OK", which was clearly a mistake!!
2) Bitstamp and Bitfinex (the latter is the only exchange with IOTA at the time of writing this
3) I use exodus, it hold the 'main' few and the devs have a roadmap detailing the cryptos they're adding
4) See my above post. I'd say income is income, if you put 1k and it makes 5k, 4k of that is taxable assuming the 1k was taken from post tax money, I have no idea what happens if you just hold it, given the value could go to zero.
It's definitely starting to peak...
I'm hot desking at work, caught the two ladies next to me having a conversation with one persuading the other they should buy Ripple. Apparently their whole team of 20 people have put over £1k each, this girl was saying she'd persuaded her family to also buy in.
I asked them if they knew what ripple was used for... no idea. None of them actually know what they're buying.
I'm hot desking at work, caught the two ladies next to me having a conversation with one persuading the other they should buy Ripple. Apparently their whole team of 20 people have put over £1k each, this girl was saying she'd persuaded her family to also buy in.
I asked them if they knew what ripple was used for... no idea. None of them actually know what they're buying.
dbs2000 said:
1) Kraken and coinbase
2) Bitstamp and Bitfinex (the latter is the only exchange with IOTA at the time of writing this
3) I use exodus, it hold the 'main' few and the devs have a roadmap detailing the cryptos they're adding
4) See my above post. I'd say income is income, if you put 1k and it makes 5k, 4k of that is taxable assuming the 1k was taken from post tax money, I have no idea what happens if you just hold it, given the value could go to zero.
Ref Kraken, I was under the impression it didn't take GBP in, so you'll get whatever sucky rate to a different currency (USD) they offer first? So you end up having a loss on that, before the USD > BTC conversion (?) 2) Bitstamp and Bitfinex (the latter is the only exchange with IOTA at the time of writing this
3) I use exodus, it hold the 'main' few and the devs have a roadmap detailing the cryptos they're adding
4) See my above post. I'd say income is income, if you put 1k and it makes 5k, 4k of that is taxable assuming the 1k was taken from post tax money, I have no idea what happens if you just hold it, given the value could go to zero.
Greshamst said:
It's definitely starting to peak...
I'm hot desking at work, caught the two ladies next to me having a conversation with one persuading the other they should buy Ripple. Apparently their whole team of 20 people have put over £1k each, this girl was saying she'd persuaded her family to also buy in.
I asked them if they knew what ripple was used for... no idea. None of them actually know what they're buying.
Sounds very bubbly. I remember what it was like in the tech bubble. People who had never invested before pouring money in to tech shares because they were "on line".I'm hot desking at work, caught the two ladies next to me having a conversation with one persuading the other they should buy Ripple. Apparently their whole team of 20 people have put over £1k each, this girl was saying she'd persuaded her family to also buy in.
I asked them if they knew what ripple was used for... no idea. None of them actually know what they're buying.
Did a bit of research and bought all the parts and set up a 6 GPU miner at home, mining Ethereum with Nanopool at ~190MH/s. The spare room is very warm (but fairly quiet)
Mining bitcoin (although more profitable with shorter ROIs) meant housing AntminerS9s which is way too noisy for domestic use.
Mining bitcoin (although more profitable with shorter ROIs) meant housing AntminerS9s which is way too noisy for domestic use.
Mousem40 said:
Did a bit of research and bought all the parts and set up a 6 GPU miner at home, mining Ethereum with Nanopool at ~190MH/s. The spare room is very warm (but fairly quiet)
Mining bitcoin (although more profitable with shorter ROIs) meant housing AntminerS9s which is way too noisy for domestic use.
Nice rig. I'm running a grey matter case for 6 GPU's. At present I've only got 3x EVGA 1070 GPU's in there. I'm running nicehash on Windows and its averaging about $4-6 /day. GPUs have their memory over clocked and I've under volted them. They all seem very happy with the cores between 56-64. Like your spare room, the cupboard the server in gets warm Mining bitcoin (although more profitable with shorter ROIs) meant housing AntminerS9s which is way too noisy for domestic use.
I'll add another card this month I think.
Greshamst said:
It's definitely starting to peak...
I'm hot desking at work, caught the two ladies next to me having a conversation with one persuading the other they should buy Ripple. Apparently their whole team of 20 people have put over £1k each, this girl was saying she'd persuaded her family to also buy in.
I asked them if they knew what ripple was used for... no idea. None of them actually know what they're buying.
I assume they all got burned pretty badly yesterday? Ripple never is and never will be that great. I bought a good chunk at 0.14 a ferw months ago and binned it yesterday and will wait and see what happens. I'd not be surprised if it retracts back to 0.14. Ripple is useless at present. Bitcoin and Eth definitely not. I'd happily take Bitcoin for my DBS that's for sale.I'm hot desking at work, caught the two ladies next to me having a conversation with one persuading the other they should buy Ripple. Apparently their whole team of 20 people have put over £1k each, this girl was saying she'd persuaded her family to also buy in.
I asked them if they knew what ripple was used for... no idea. None of them actually know what they're buying.
Edited by dbs2000 on Tuesday 17th October 08:01
Just in for a grand and a bit using bit coin
Using coinbase and had to verify using a sepa payment. Cost me another ten quid for the payment. Found they don’t withdraw in gbp either. Probably bought in a bit toppy but that is what everyone has probably said.
Using coinbase and had to verify using a sepa payment. Cost me another ten quid for the payment. Found they don’t withdraw in gbp either. Probably bought in a bit toppy but that is what everyone has probably said.
Edited by sc0tt on Tuesday 17th October 20:00
Mousem40 said:
Did a bit of research and bought all the parts and set up a 6 GPU miner at home, mining Ethereum with Nanopool at ~190MH/s. The spare room is very warm (but fairly quiet)
Mining bitcoin (although more profitable with shorter ROIs) meant housing AntminerS9s which is way too noisy for domestic use.
What did the kit cost and what is your electricity bill?Mining bitcoin (although more profitable with shorter ROIs) meant housing AntminerS9s which is way too noisy for domestic use.
when i started mining in march 2017 i used to make 15-27 Dollars a day off 5 gtxs. One weekend made I 150 dollars(decred). i only did it for 4 months made a bit and sold up for what it cost me. for 5-6 dollars a day it just seemed pointless considering investing in most coins makes a hell of lot more.
Edited by The Spruce goose on Tuesday 17th October 20:09
sc0tt said:
Depends. I bought a week ago and haven’t made a bean 
even if i had to wait a month i would buy on a dip. But i bought my eth for 15 Dollars in march 2017 and thought that was too expensive. ive sold up and leaving it for a few months, too many icos, too much greed, when people on street start talking about buying btc to make money it is never good.i enjoyed mining though as a hobby, electricity is expensive though and with gtx at 400 quid a piece roi is at least 14 months. better to mine a mixture of coins., lowish difficulty with good potential. clay-more was my favorite mining software.
check out profitability here
https://whattomine.com/
Those asking for a good place to get in and out in GBP. I've been using Coinfloor. Really impressed. Easy to use and quick. Money goes in as faster payment in seconds and comes out via transfer taking about three days. No bad experiences and they're based in Britain somewhere so more than happy.
rufusgti said:
Those asking for a good place to get in and out in GBP. I've been using Coinfloor. Really impressed. Easy to use and quick. Money goes in as faster payment in seconds and comes out via transfer taking about three days. No bad experiences and they're based in Britain somewhere so more than happy.
Thanks chap, i may swap from coinbase dependant on the verification. I haven’t heard good things with regard to withdrawing since i signed up but I’m hoping it goes ok.What are you holding at the minute?
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