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The Disapproving Brit
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PostPosted: 14:48 - 12 Nov 2013    Post subject: Reply with quote
Method wrote:

Im no criminal - but if I was, I would be thinking of becoming a BitCoin theif Laughing


And there are undoubtedly many opportunities for theft there. Every time you send bitcoins, you have all the security that exists if you hand over cash - i.e. None.

I don't intend to ever keep more than I can afford to lose in BTC. I bought my first 0.1BTC for £18.50 a week ago, and 0.2BTC for £45 two days later. I threw another £250 on just over 1BTC yesterday, and I've made a couple of trades with that 1.3 or so BTC since then.

My goal now is to 1) gradually turn my initial investment back into cash by banking a portion of my profits each time; 2) squirrel away a small amount of profit onto a paper wallet for long term holding, and 3) build up my working capital for short term trades.

In 24 hours, it's going well. I've repaid £10 of my initial investment, have about 0.4 BTC in cold storage, and a working capital of just over 1.2BTC. Overall, that equates to about £50 earned. And I'm barely trying - I just set a sale price about £30 above what I paid, and wait for the market to catch up, plus keep an eye out for bargains on the market.
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Old Thread Alert!

There is a gap of 3 years, 73 days between these two posts...

Fin
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PostPosted: 22:18 - 23 Jan 2017    Post subject: Reply with quote
Lol, looking back at people at the start of this thread.

Bet they wish they got some back when they were £20 Shocked

I know I'm a cunt for bringing back an old thread Razz
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RhynoCZ
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PostPosted: 23:40 - 23 Jan 2017    Post subject: Reply with quote
What might have been, huh? Smile
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Derivative
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PostPosted: 02:07 - 10 Feb 2017    Post subject: Reply with quote
One would hope The Artist is off on a beach somewhere.

Today is actually an interesting day in bitcoin-land; major Chinese exchanges are in lock down. Potential for another mtgox style situation of individuals barrelling in to sell for RMB as it's the only way out.
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The Artist
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PostPosted: 12:43 - 10 Feb 2017    Post subject: Reply with quote
Derivative wrote:
One would hope The Artist is off on a beach somewhere.

Today is actually an interesting day in bitcoin-land; major Chinese exchanges are in lock down. Potential for another mtgox style situation of individuals barrelling in to sell for RMB as it's the only way out.


Not quite. Laughing

I was skint back when I discovered bitcoin and couldn't invest much into it. A friend at the time bought £3k worth and ended up with about £30k before he had to sell for a personal reason.
I made far far more investing in Monero than bitcoin. I honestly believe Monero is much more likely to succeed longer term than bitcoin. Fungibility is far more important that a lot of bitcoin fanbois would have you believe.

If crypto-currency intrigues you, read up on Monero and Ethereum. Regarding Ethereum, I haven't got any Ether now because I don't see why I would use it as a store of value but the technology and the development team behind it are interesting.
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The Artist
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PostPosted: 14:04 - 14 Feb 2017    Post subject: Reply with quote
Good video explaining Monero. Thumbs Up

https://www.youtube.com/watch?v=6DQb0cMvU7I
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Pjay
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PostPosted: 19:44 - 29 May 2017    Post subject: Reply with quote
Anyone taking up Ethereum?
I have almost doubled my investment since yesterday morning. I bought some due to the Toyota news, I think they might be just starting. I wish I had kept hold of my Bitcoins instead of cashing in when they quadrupled, I'd be freaking minted now. Saying that, I'd have sold them once they were worth 5k for sure.

I shall hold these for years though(probably).
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The Artist
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PostPosted: 23:18 - 29 May 2017    Post subject: Reply with quote
Pjay wrote:
Anyone taking up Ethereum?
I have almost doubled my investment since yesterday morning. I bought some due to the Toyota news, I think they might be just starting. I wish I had kept hold of my Bitcoins instead of cashing in when they quadrupled, I'd be freaking minted now. Saying that, I'd have sold them once they were worth 5k for sure.

I shall hold these for years though(probably).


Luckily, I was talking to a friend about our crypto investments a while back when it hit me on why the actual ETH coin may be of long term value so I picked up £8k worth when they were $20. Just in time really. It has been a fun few weeks not being able to look away from my phone price tickers. Laughing

Current coins I am long on right now:
BTC, ETH and XMR. I am about 70% in ETH right now as well but I think XMR has a real shot at being the best performing coin once we get a mobile wallet and hardware wallet sorted.
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Sload
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PostPosted: 23:37 - 29 May 2017    Post subject: Reply with quote
I was kicking myself when I nosed a few months ago. If I had gone baws deep I would have been a theoretical millionaire.

How are you guys doing crypto getting around the UK issues?
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Jewlio Rides Again LLB
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PostPosted: 23:52 - 29 May 2017    Post subject: Reply with quote
Still haven't been able to retrieve mine Sad
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The Artist
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PostPosted: 05:27 - 30 May 2017    Post subject: Reply with quote
Sload wrote:
I was kicking myself when I nosed a few months ago. If I had gone baws deep I would have been a theoretical millionaire.

How are you guys doing crypto getting around the UK issues?


Not in the UK. Wink

If the time comes when I am back in the UK, I have already spoken to a tax adviser and it SEEMS as though it is treated as a foreign currency so if I sell anything I own before coming back and then rebuy once back in the UK, I would only be liable for CGT on profits from that point on but I am yet to get 100% confirmation on this.

The way I see it, if I am making enough profit to trigger CGT, then I would rather pay the 28% or whatever it is, than have HMRC find out years later and be fined for tax evasion.

I may as well add, before anyone invests in Ripple, Ethereum classic or Dash, do more research. You will realise these are unwise investments unless you want to gamble purely short term.
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Pjay
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PostPosted: 08:00 - 30 May 2017    Post subject: Reply with quote
I was looking at Ethereum when it was £10 but decided against it because it just looked like another alt-coin with no big takers onboard for the real world use of the contracts. By the time the dev companies took a real interest in it, the price jumped.

I supposed it's all about taking that risk, Kudos for jumping in with £8k though that was a nice move. I want to just leave it for a couple of years and look then, but the rises are so quick it's hard not to keep looking on an hourly basis. Fk knows how I'm going to leave it for years...
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The Artist
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PostPosted: 10:54 - 30 May 2017    Post subject: Reply with quote
A mate of mine bought some Ether when it was £5 and is now in prison so he can't check on it even if he wants to. Laughing

I figure I am young so may as well take some risks and hope it pays off. If it goes to zero, yeah it sucks but its not the end of the world. I know if I had gone all in when I first learned of bitcoin, I could have made millions but if you let regrets worry you in the crypto world, you won't get very far.
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M.C
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PostPosted: 13:48 - 30 May 2017    Post subject: Reply with quote
The Artist wrote:
I know if I had gone all in when I first learned of bitcoin, I could have made millions but if you let regrets worry you in the crypto world, you won't get very far.

When was that (the beginning of this thread)? A friend told me about them in 2012ish and I thought it sounded dodgy Neutral I think I put him off as he decided to buy gold at pretty much the height of the market Laughing
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Ste
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Joined: 01 Sep 2002
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PostPosted: 13:51 - 30 May 2017    Post subject: Reply with quote
"If you’d bought $1,000 of Bitcoin in 2010, you’d be worth $35M"

https://arstechnica.com/tech-policy/2017/05/price-of-bitcoin-breaks-records-at-2400/
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M.C
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PostPosted: 13:52 - 30 May 2017    Post subject: Reply with quote
Shocked TimePal?

Did anyone actually invest that heavily? I recall someone buying £50 worth in 2008 and made 100k+. Also:
Bitcoins jumped to nearly $1,000 each in late 2013, but then plummeted in value, taking more than three years to rise back to that price point.
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The Artist
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PostPosted: 14:38 - 30 May 2017    Post subject: Reply with quote
M.C wrote:
The Artist wrote:
I know if I had gone all in when I first learned of bitcoin, I could have made millions but if you let regrets worry you in the crypto world, you won't get very far.

When was that (the beginning of this thread)? A friend told me about them in 2012ish and I thought it sounded dodgy Neutral I think I put him off as he decided to buy gold at pretty much the height of the market Laughing


I don't really remember exactly when I first got involved but my mate swears that they were £1 each when we first looked at them. I definitely remember buying a bunch for ~£4 each. So investing £2.5k would have netted over £1million.

Either way, no one was to know at the time what would happen so now I just look at what coins I think have the most solid fundamental technical value and buy them.
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Sload
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PostPosted: 16:56 - 30 May 2017    Post subject: Reply with quote
Jewlio Rides Again wrote:
Still haven't been able to retrieve mine Sad


How much do you have tied up?
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Jewlio Rides Again LLB
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PostPosted: 22:28 - 30 May 2017    Post subject: Reply with quote
Sload wrote:
Jewlio Rides Again wrote:
Still haven't been able to retrieve mine Sad


How much do you have tied up?


Not that much for the moment, worth about £50 now, I bought about £10 worth at £450ish/BTC back in 2013. Just for lols. Laughing
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Jewlio Rides Again LLB
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PostPosted: 22:30 - 30 May 2017    Post subject: Reply with quote
So, this Monero thing doesn't seem to have much doing. No proper offline wallets etc. yet?
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The Artist
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PostPosted: 10:54 - 01 Jun 2017    Post subject: Reply with quote
Jewlio Rides Again wrote:
So, this Monero thing doesn't seem to have much doing. No proper offline wallets etc. yet?


Offline wallet? Question

They have a GUI wallet for windows and CLI.

Mobile wallet/hardware wallets are being worked on but it is significantly more difficult to develop. All these bitcoin clones with fully open blockchains are a lot easier to make wallets for, Monero is completely unlike anything else at the moment.
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Jewlio Rides Again LLB
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PostPosted: 20:35 - 05 Jun 2017    Post subject: Reply with quote
The Artist wrote:
Jewlio Rides Again wrote:
So, this Monero thing doesn't seem to have much doing. No proper offline wallets etc. yet?


Offline wallet? Question

They have a GUI wallet for windows and CLI.

Mobile wallet/hardware wallets are being worked on but it is significantly more difficult to develop. All these bitcoin clones with fully open blockchains are a lot easier to make wallets for, Monero is completely unlike anything else at the moment.


I meant like Electrum (which, coincidentally, I STILL haven't been able to retrieve my funds from Crying or Very sad )

I've only seen the My Monero thing up to now. Plus they want you to pay in BTC Crying or Very sad
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The Artist
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PostPosted: 11:52 - 06 Jun 2017    Post subject: Reply with quote
Jewlio Rides Again wrote:

I meant like Electrum (which, coincidentally, I STILL haven't been able to retrieve my funds from Crying or Very sad )

I've only seen the My Monero thing up to now. Plus they want you to pay in BTC Crying or Very sad


The GUI wallet is like electrum. You can point it to a remote node so it works effectively just like bitcoin with electrum. Google "Monero GUI wallet". No need to download the whole blockchain if you don't want to.

Also, not sure what you are paying for exactly but wallets are free.

If you want to buy monero, use Kraken or buy btc and sell them for xmr on one of many exchanges.
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Jewlio Rides Again LLB
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PostPosted: 21:25 - 06 Jun 2017    Post subject: Reply with quote
GUI won't run on my comp for some reason. Just get a white screen.

Was referring to paying for XMR.
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Jewlio Rides Again LLB
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PostPosted: 21:04 - 12 Jun 2017    Post subject: Reply with quote
Got it working. Teach me to read the instructions (needed the low res bat to run it) Embarassed

Signed up with Kraken, and MoneroDirect. Waiting of ID approval through Kraken & OKPay, and seems the price is on the down. Hope it carries on downwards until after I've had my approvals Very Happy
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Old Thread Alert!

The last post was made 6 years, 317 days ago. Instead of replying here, would creating a new thread be more useful?
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