Author Topic: Bitcoins  (Read 4000 times)

yozzi

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Re: Bitcoins
« Reply #45 on: November 28, 2017, 03:51:23 pm »
I use www.luno.com. For Bitcoin and Ether

jaDEB do you store the cryptos with Luno as well as buying them there?

I've just bought Ripple on eToro exchange as they take GBP & USD

Hamster

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Re: Bitcoins
« Reply #46 on: November 28, 2017, 04:06:58 pm »
Pronounce it like "Ether" because that's the coin's name. Ethereum is the tech underneath it.

Thanks Hamster

You know what, I think I might be wrong. A lot has changed since we first started messing around with it.

Ether is more like a Satoshi is to a Bitcoin, a smaller denomination of Ethereum. Looks like I misunderstood it all this time. Just shows you how much you can trust what people say on the internet  :LHST:

jaDEB

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Re: Bitcoins
« Reply #47 on: November 29, 2017, 07:37:45 am »
Well me and u can call it Ether.
jaDEB

I'll see you on the dark side of the moon. The lunatic is in my head.

Pink Floyd

andre

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Re: Bitcoins
« Reply #48 on: December 01, 2017, 08:45:35 am »
Here's a question for some of you who have a few hundred K in bitcoin. If you had the same amount in cash today, would you put it in bitcoin now?

I like this question as it forces one to look past the hype and current fomo surrounding crypto. Personally, I would play it safe but that's because of my goals and adversity to risk.

Although I have a good understanding of blockchain and the value the technology might add - there seem to be a bit of a separation between what's happening with Bitcoin and the application of Blockchain. This makes Bitcoin a form of a digital asset rather than the currency it was intended to be. Frankly, right now I would rather look at some of the altcoin technology offering real-world application of blockchain as a long-term investment rather than Bitcoin. But Bitcoin is a fun ride at the moment and if you have everything set up it's pretty easy to turn a quick 10-15% with some form of arbitrage. Else treat it like gambling and just play with a bit of spare cash if you have it..
There's lots of profit in altcoins if you're prepared to risk but it can be extremely volatile and you have to do your homework. For example 3 weeks ago you could buy ADA (Cardano) for USD 0.02 and now it's sitting around USD 0.11.
Interestingly the real tricky part is converting your gains to usable currency (fiat) - most exchanges uses BTC or USD as base currency so you have to risk the volatility of BTC to move currency. 


andre

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Re: Bitcoins
« Reply #49 on: December 01, 2017, 08:54:04 am »
On which platforms or exchanges are you guys buying your cryptos? I've read so much negativity about scam exchanges, etc that not sure where to buy.

Are you buying and storing your currencies on the same exchange or using a seperate wallet? Be interested in hearing how you rate the various players in the market.

A hardware wallet would be the best and safest option. IMO one should never leave crypto on a wallet in any exchange - just be aware that some exchanges charge fees for sending and receiving crypto.  Second to a hardware wallet would be a reputable software wallet where you control all your own private keys. I would recommend Exodus.io at the moment but there are others.

With regards to exchanges - personally I've used Bitstamp.net (they accept SEPA account funding at no cost), Bittrex.com (only exchange you can purchase virtually any altcoin - they use USD and BTC as base currency), CEX.io (expensive but you can fund your account with a credit card and the platform is good), Luno (for obvious reasons)

jaDEB

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Re: Bitcoins
« Reply #50 on: December 08, 2017, 03:30:54 pm »
BTC/ZAR 222,850

Ethereum 6,699 - learn how to pronounce the %$#@ thing dammit  :wall:  :wall:  :wall:
jaDEB

I'll see you on the dark side of the moon. The lunatic is in my head.

Pink Floyd

Patrick

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Re: Bitcoins
« Reply #51 on: December 09, 2017, 06:57:26 pm »
What are your thoughts on this: https://www.wired.com/story/bitcoin-mining-guzzles-energyand-its-carbon-footprint-just-keeps-growing/

With the damage bitcoin is doing to the environment surely it's unethical to support it? The bubble aspect is now only a secondary concern to me.

The transaction costs also mean it doesn't have the ability to perform it's intended purpose of facilitating low value transactions.

None of this is saying it might not go much much higher, but for the sake of the planet I do hope the crash comes sooner rather than later.


jaDEB

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Re: Bitcoins
« Reply #52 on: December 09, 2017, 07:48:57 pm »
With all respect.

With all the pollution /cars / plastic bags / mining /  shark killing for fins / chemical plants / power plants / forest destroying / computers /  over fishing etc. etc.  in the world. and you hope BTC crashes ?  :question:
jaDEB

I'll see you on the dark side of the moon. The lunatic is in my head.

Pink Floyd

Hamster

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Re: Bitcoins
« Reply #53 on: December 09, 2017, 08:15:54 pm »
Ethics and making money don't go together

Patrick

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Re: Bitcoins
« Reply #54 on: December 09, 2017, 09:00:48 pm »
If it helps all those things worry me too. To be honest I want a cryptocurrency to work. I'd love to spend less to move money around the world. It's the miners that seem to be doing huge damage.

andre

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Re: Bitcoins
« Reply #55 on: December 12, 2017, 10:01:04 am »
What are your thoughts on this: https://www.wired.com/story/bitcoin-mining-guzzles-energyand-its-carbon-footprint-just-keeps-growing/

With the damage bitcoin is doing to the environment surely it's unethical to support it? The bubble aspect is now only a secondary concern to me.

The transaction costs also mean it doesn't have the ability to perform it's intended purpose of facilitating low value transactions.

None of this is saying it might not go much much higher, but for the sake of the planet I do hope the crash comes sooner rather than later.

I've been trying to figure out a way to classify the different 'crypto' offerings but there's plenty of overlap:
1. Digital Assets
2. Crypto Currencies (transactional)
3. Crypto Protocols (smart contracts)
4. Funding Tokens (displace traditional venture capitalists from the fundraising process)

jaDEB

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Re: Bitcoins
« Reply #56 on: December 12, 2017, 01:00:31 pm »
BTC/ZAR 247,319

Ethereum  7,810
jaDEB

I'll see you on the dark side of the moon. The lunatic is in my head.

Pink Floyd

jaDEB

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Re: Bitcoins
« Reply #57 on: January 08, 2018, 11:48:07 am »
BTC/ZAR 205,392    :wall:

Ethereum  14,838   ;)
jaDEB

I'll see you on the dark side of the moon. The lunatic is in my head.

Pink Floyd

jaDEB

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Re: Bitcoins
« Reply #58 on: January 16, 2018, 11:00:12 am »
BTC/ZAR 157,250.00

ETH/ZAR  13,338.00

Sold my ETH and bought More BTC
jaDEB

I'll see you on the dark side of the moon. The lunatic is in my head.

Pink Floyd

floydthebarber71

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Re: Bitcoins
« Reply #59 on: January 17, 2018, 02:10:01 pm »
BTC/ZAR 157,250.00

ETH/ZAR  13,338.00

Sold my ETH and bought More BTC

Specific reasons for doing so? Man the cryptos are tanking right now