Bitcoin mining and cryptocurrency thread

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buksida
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Re: Bitcoin mining and cryptocurrency thread

Post by buksida » Mon Nov 27, 2017 3:34 pm

STEVE G wrote:
Mon Nov 27, 2017 3:21 pm
Yes, I was just refering to Bitcoin and on the subject of institutions, these Bitcoin exchanges are now charging more than the traditional banking systems, it now costs more to store Bitcoin in a computer that it does to keep physical gold of the same value in a bank vault.
Depends on the exchange, you have to do your research and you always have the option to use a hardware wallet such as Trezor or Ledger Nano S. What you don't get with cryptocurrency is fleeced when sending it from one country to another. How much of a cut does a bank take on forex rates, then add in its transfer fees for international transfers, then try using an ATM in another country and you'll pay again. You'll soon begin to see why people want to get away from banks and start using cryptos. Even Paypal takes 5% on occasion for no reason whatsoever and its fx rates are diabolical.
Pleng wrote:
Mon Nov 27, 2017 3:21 pm
Just checked out both Kraken and BitFinex; neither offer trading in GBP - annoyingly you don't find this out until after you sign up :banghead:
I havent used these but maybe have a look at: https://www.coinfloor.co.uk/
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Re: Bitcoin mining and cryptocurrency thread

Post by Pleng » Mon Nov 27, 2017 3:41 pm

Thanks. Just tried coinfloor. Identity verification failed and no reason given. :(

I've done a Google search and there really doesn't seem to be much around. I guess with the volumes I'm trading I could get by trading in THB so I'll give BX a try.

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Re: Bitcoin mining and cryptocurrency thread

Post by johnjar » Mon Nov 27, 2017 6:01 pm

JPmorgan CEO Jamie Dimon recently compared the crypto currency as another bubble like the 1770’s Dutch Tulip during Golden Age, during which contract prices for some bulbs of the recently introduced and fashionable tulip reached extraordinarily high levels and then dramatically collapsed in February 1637.

Warren Buffet said it will crash also.

This Swedish bloke seems to be an expert and he said it could go to bitcoin or another crypto coin value of $million per coin. Who knows but worth a watch.


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Re: Bitcoin mining and cryptocurrency thread

Post by buksida » Mon Nov 27, 2017 9:01 pm

Assholes such as Jamie Dimon come out with things like that so that they can profit off the dips they cause in the market. He actually bought Bitcoin when it fell after his comments.

Jamie Dimon accused of market manipulation over 'false, misleading' bitcoin comments
https://www.rt.com/business/404216-jami ... ipulation/
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Re: Bitcoin mining and cryptocurrency thread

Post by buksida » Tue Nov 28, 2017 8:47 am

Those that think it is a bubble will love this ...

24059717_1578327562225733_5259328271714839622_o.jpg
24059717_1578327562225733_5259328271714839622_o.jpg (55.27 KiB) Viewed 333 times

I agree that BTC is way over valued at the moment, have been waiting for dips to buy more but they just haven't come - it is a very unnatural chart.
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Re: Bitcoin mining and cryptocurrency thread

Post by johnjar » Tue Nov 28, 2017 9:11 am

Yes Crypto currency will probably become a world currency for sure, but the big financial institutions will likely control it just like they do with present currencies, I,me thinking of having a punt also.

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Re: Bitcoin mining and cryptocurrency thread

Post by buksida » Wed Nov 29, 2017 11:17 am

Did Elon Musk create Bitcoin?
http://www.newsbtc.com/2017/11/28/did-e ... e-bitcoin/

Either way it has gone over $10k:
http://www.bbc.com/news/technology-42137408
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Re: Bitcoin mining and cryptocurrency thread

Post by PET » Wed Nov 29, 2017 8:21 pm

johnjar wrote:
Tue Nov 28, 2017 9:11 am
Yes Crypto currency will probably become a world currency for sure, but the big financial institutions will likely control it just like they do with present currencies, I,me thinking of having a punt also.
I would suggest if you do not fully understand what you are investing in then that is the time to walk away.
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Re: Bitcoin mining and cryptocurrency thread

Post by johnjar » Wed Nov 29, 2017 8:58 pm

PET wrote:
Wed Nov 29, 2017 8:21 pm
johnjar wrote:
Tue Nov 28, 2017 9:11 am
Yes Crypto currency will probably become a world currency for sure, but the big financial institutions will likely control it just like they do with present currencies, I,me thinking of having a punt also.
I would suggest if you do not fully understand what you are investing in then that is the time to walk away.
PET you are spot on! I fully agree I do not understand this new crypto currency, and I bet you don’t either, or the worlds financial institutions, the stock markets or does anyone else apart from the Satoshi Nakamoto? or a genius like self-taught polymath Elon Musk? I have always been a punter, and always in for a punt when time is right, and if it is easily sellable :wink:

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Re: Bitcoin mining and cryptocurrency thread

Post by johnjar » Thu Nov 30, 2017 9:21 am

JIM ROGERS - 27 Nov 2017 - Rather Buy Japan Than The US. Bitcoin Price Looks Like A Bubble...A short video of investor Jim Rodgers view on markets and bitcoin [ Originally Soros and Rogers were partners ] now at $11000.


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Re: Bitcoin mining and cryptocurrency thread

Post by buksida » Thu Nov 30, 2017 9:33 am

Those that dont understand it will call it a bubble. But I tend to agree looking at the chart and the chart alone.

Just as well Bitcoin isnt the only fruit! Japan has recently launched their own crypto currency so thought I'd have a punt on that: https://monacoin.org/
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Re: Bitcoin mining and cryptocurrency thread

Post by johnjar » Thu Nov 30, 2017 10:10 am

I agree these guys don’t understand it along with most of us, and have probably hedged their bets and must have bought into crypto currency, also monocoin combined with Japanese market which can only go up sooner or later. Its going to be interesting to watch how this all pans out as crypto currency has really put a cat among the pigeons with all the big banks and financial institution’s.

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Re: Bitcoin mining and cryptocurrency thread

Post by Pleng » Thu Nov 30, 2017 3:13 pm

Pleng wrote:
Mon Nov 27, 2017 3:41 pm
Thanks. Just tried coinfloor. Identity verification failed and no reason given. :(
I sent a support request to Coinfloor regarding the failed verification, which I guess was probably due to registering from a Thai IP address, and they got back within 24 hours saying they have manually passed the verification for me. Great service; much better than the 8 weeks it took Coinbase to respond to me!

Unfortunately Coinfloor charge a 10GBP fee for every withdrawal in GBP, which doesn't really suit me as I'm only trading relatively small volumes. It's also done from an international bank which means having to wait a few days before the money will arrive, so I think for now I'll most likely be sticking to BX for selling in Baht.

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Re: Bitcoin mining and cryptocurrency thread

Post by buksida » Thu Nov 30, 2017 3:29 pm

A lot of the UK exchanges use banks out of the UK in places like Estonia, probably to prevent the govt clamping down on them.

To day trade small amounts it is easier to do it with BTC or ETH directly and use Bittrex or Bitfinex for buying and selling altcoins. Fiat is usually only used for the initial deposit else you'll get stung as you've found out.

BX is great, they only take 0.25% per transaction.
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Re: Bitcoin mining and cryptocurrency thread

Post by johnjar » Thu Nov 30, 2017 5:08 pm

According to CNBC business news this afternoon bitcoin will be trading on Nasdaq futures contracts next year.

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