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Sun Wukong
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PostPosted: 15:37 - 30 Dec 2017    Post subject: Christmas Tulip Rush Reply with quote

So, Crypto seems to be booming again, even with a collapse in BTC underway.

There are somewhere around 1200 Altcoins about, with explosions in value in several, and massive increases in market caps.

Spent the last couple of days looking in to a couple of coins, both require buying in BTC, which seems terrifying at present unless you buy in person... otherwise the value is far in excess of exchange value.

There have got to be plenty of people holding Crypto on here, if not actively trading.

At what point are you expecting this bubble to pop, and what do you think will emerge out of the other side?

Technically speaking, BTC is one of the least impressive coins... but with so much competition, lots of people will end up holding junk at this point.

Thinking
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Ste
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PostPosted: 15:42 - 30 Dec 2017    Post subject: Reply with quote

What's terrifying about buying bitcoins online?
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Sun Wukong
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PostPosted: 15:47 - 30 Dec 2017    Post subject: Reply with quote

Ste wrote:
What's terrifying about buying bitcoins online?


The vast gap between the real value, and what the traders are selling them at.

The fact that the volatility at present means that within an hour you can see a 10% change in value.

The uptick in exchange hacking means you need to keep everything off the web as much as possible now, making it even less liquid.
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M.C
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PostPosted: 16:01 - 30 Dec 2017    Post subject: Reply with quote

It's worth the read: https://www.bikechatforums.com/viewtopic.php?t=267863&start=600 Laughing
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Rogerborg
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PostPosted: 16:02 - 30 Dec 2017    Post subject: Reply with quote

Sun Wukong wrote:
the real value, and what the traders are selling them at

https://i.imgur.com/1WZAmd4.gif










Wait, that was self aware humour, right? Thinking
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Im-a-Ridah
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PostPosted: 16:04 - 30 Dec 2017    Post subject: Reply with quote

Cryptocurrencies are a great idea if done right, with some real value behind them, but Bitcoin isn't.
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Ste
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PostPosted: 16:05 - 30 Dec 2017    Post subject: Reply with quote

You can use coinbase and then GDAX for getting your coins without paying any fees. Wink
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Sun Wukong
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PostPosted: 16:14 - 30 Dec 2017    Post subject: Reply with quote

Will catch up from page 7 of that bitcoin thread Thumbs Up

I was going to invest in BTC years back (when Ste told me not to buy at 300GBP and wait until they returned to 150... Crying or Very sadLaughing)

Was going to buy ether a year or so back. Didn't.

Now I have a couple of ideas that I may well go in to.

Borgy has a point, ensuring they have some form of intrinsic value is the bugger.
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Sun Wukong
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PostPosted: 16:39 - 30 Dec 2017    Post subject: Reply with quote

Haha, that thread, and the Reddit thread, are good reads Thumbs Up

We're all doomed Captain Laughing
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M.C
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PostPosted: 16:41 - 30 Dec 2017    Post subject: Reply with quote

Sun Wukong wrote:
I was going to invest in BTC years back (when Ste told me not to buy at 300GBP and wait until they returned to 150... Crying or Very sadLaughing)

Was going to buy ether a year or so back. Didn't.

Now I have a couple of ideas that I may well go in to.

If it makes you feel any better, a work colleague/pal told me about them years back, can't quite remember when (years in a menial job all blend into each other Neutral), but I think it was early 2013... he got sacked in early 2014 so it definitely wasn't later than that.

Anyhoo my point... only in the last year or so has bitcoin gone crazy, so you would have needed the foresight and nerve to hold through all the other (smaller but significant) rises and falls.

Oh and no way would I get involved now. A year ago with a time machine... yes Smile
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Ste
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PostPosted: 16:44 - 30 Dec 2017    Post subject: Reply with quote

Calm down, I'm still waiting for the price to crash before buying any for the purpose of holding until the price later goes up again. Razz

It is going to crash people as who've bought in stuff advertised on Facebook lose confidence and sell up rather than holding out waiting for profits.

Most alt coins become nothing and pose no threat whatsoever to bitcoin. Litecoin is well established not really a threat. Monero on the other hand does offer various advantages over bitcoin and

Bitcoin transaction fees are also pushing people towards Monero. Laughing
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Sun Wukong
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PostPosted: 16:45 - 30 Dec 2017    Post subject: Reply with quote

Ste wrote:
Calm down, I'm still waiting for the price to crash before buying any for the purpose of holding until the price later goes up again. Razz

It is going to crash people as who've bought in stuff advertised on Facebook lose confidence and sell up rather than holding out waiting for profits.

Most alt coins become nothing and pose no threat whatsoever to bitcoin. Litecoin is well established not really a threat. Monero on the other hand does offer various advantages over bitcoin and

Bitcoin transaction fees are also pushing people towards Monero. Laughing


Ok, in the interest of the public feathering, I was intrigued by Ripple and Cordano.

A friend also recommended Monero though, but it seems like government attack would fuck that one up... Thinking
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Jewlio Rides Again LLB
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PostPosted: 18:17 - 30 Dec 2017    Post subject: Reply with quote

I'm waiting for Monero to drop below £200 again. Thumbs Up
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Lord Percy
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PostPosted: 18:51 - 30 Dec 2017    Post subject: Reply with quote

Ste wrote:
I'm still waiting for the price to crash before buying any for the purpose of holding until the price later goes up again. Razz

It is going to crash


Ahaha so you admit you're the same as all the rest. Bitcoin is nothing but a cash cow for you which you'll bounce out of as soon as the pyramid scheme stops being profitable for your real-world bank account.
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Ste
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PostPosted: 21:02 - 30 Dec 2017    Post subject: Reply with quote

No.

I'm waiting before before buying any for the purpose of holding.

That's not to say that bitcoin is just a cash cow to me.

For now, Monero is my crypto of choice simply because of the bitcoin transactions fees.
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ThoughtContro...
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PostPosted: 00:18 - 31 Dec 2017    Post subject: Reply with quote

Ste wrote:
No.

I'm waiting before before buying any for the purpose of holding expecting the value to continue to go up.


Fixed for accuracy.

Long live the bubble. Another sucker is born every minute.
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Ste
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PostPosted: 01:32 - 31 Dec 2017    Post subject: Reply with quote

For that I don't want to buy coins for more than a few hundred per coin at the most. Apart from the fees getting expensive there are no problems with buying coins to spend.

Every time the price has drastically dropped, the price doesn't stay low. What makes you think that anything will be different?

Buying a few coins at £150 each would be an acceptable gamble imo. Laughing That is of course if the price ever drops that low again other than when one of the altcoins is taking over as king of crypto.

I don't expect bitcoin to last for ever as it does have weaknesses however it's notable that the blockchain has never been hacked.
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Lord Percy
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PostPosted: 01:53 - 31 Dec 2017    Post subject: Reply with quote

Ste wrote:


I don't expect bitcoin to last for ever


More confessions Dance!

Quote:

however it's notable that the blockchain has never been hacked.


Yep, blockchain seems like a great invention. Central banks will someday employ a version of it. Bitcoin at that point will be quite dead Very Happy
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Ste
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PostPosted: 16:30 - 31 Dec 2017    Post subject: Reply with quote

"More confessions"?

No, that's always been my opinion and I've said it before in the bitcoin thread(s) on BCF. Laughing

It's an interesting question how banks will one day try to make of blockchain technology.
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