Bitcoin mining and cryptocurrency thread

Technology, computers, internet, websites, mobiles, cameras, audio and video.
SPONSORS: Hua Hin Web Design
User avatar
STEVE G
Hero
Hero
Posts: 11733
Joined: Mon Apr 03, 2006 3:50 am
Location: HUA HIN/EUROPE

Re: Bitcoin mining and cryptocurrency thread

Post by STEVE G » Fri Aug 11, 2017 8:21 pm

Yes, I'm not saying it's not worth anything, just that I don't really understand quite why it might be!

User avatar
Vital Spark
Ace
Ace
Posts: 1699
Joined: Wed Feb 14, 2007 10:34 pm
Location: Nakhon Pathom

Re: Bitcoin mining and cryptocurrency thread

Post by Vital Spark » Fri Aug 11, 2017 11:30 pm

Don't worry about understanding all the ins and outs of it, Steve, I really don't either. But what I do know is that you can make/lose money investing in it. I liken it a bit like gambling - don't invest any more money than you're willing to lose.

I popped a small amount of pocket money into a currency called Omise Go (OMG) the other day. It was trading at 108.8 baht per 'coin'. Today it peaked at 260 baht. I have two choices: leave it in, hoping it will rise, or take out the money with a nice little profit. Actually, I have a third option: cream off the profit and leave the rest there. There are, of course, administration costs, but even taking those into account I'll have made more money than keeping it in my bank account.

The big financial institutions, and financial advisers, obviously hate cryptocurrency because they're losing money. It's a kind of 'two fingers' to the established financial institutions. :D

I've only been active in trading (I don't understand mining) for the past 3 months, but, boy, do I wish I'd got in earlier.

VS
"Properly trained, man can be a dog's best friend"

User avatar
STEVE G
Hero
Hero
Posts: 11733
Joined: Mon Apr 03, 2006 3:50 am
Location: HUA HIN/EUROPE

Re: Bitcoin mining and cryptocurrency thread

Post by STEVE G » Sat Aug 12, 2017 12:01 pm

Don't worry about understanding all the ins and outs of it, Steve, I really don't either. But what I do know is that you can make/lose money investing in it. I liken it a bit like gambling - don't invest any more money than you're willing to lose.
If you just doing this for fun, then it's harmless but I don't gamble if I can help it, I invest to finance my own pension fund and it's not something on which I can afford to lose more than I make.

User avatar
StevePIraq
Legend
Legend
Posts: 2153
Joined: Sat Jun 28, 2008 1:21 pm
Location: Ting Tong Land

Re: Bitcoin mining and cryptocurrency thread

Post by StevePIraq » Mon Aug 14, 2017 2:13 pm

I am only just starting to take an interest in this and find it pretty confusing. For one thing most if not all coins are via totally unknown companies so how do you even know if they are real or just an internet scam.

A lot of reading to do before I will put anything into this.

Here is a very good table which gives many crypto coins and there latest growth.

https://www.cryptocompare.com/coins/#/btc
"Live everyday as if it were your last because someday you're going to be right." Muhammad Ali

User avatar
buksida
Moderator
Moderator
Posts: 15566
Joined: Tue Dec 31, 2002 12:25 pm
Location: south of sanity
Contact:

Re: Bitcoin mining and cryptocurrency thread

Post by buksida » Mon Aug 14, 2017 2:23 pm

You have to do your research, as with any investment. The scams usually get discovered quite quickly.
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
Get out there: On The Road Asia

User avatar
STEVE G
Hero
Hero
Posts: 11733
Joined: Mon Apr 03, 2006 3:50 am
Location: HUA HIN/EUROPE

Re: Bitcoin mining and cryptocurrency thread

Post by STEVE G » Mon Aug 14, 2017 2:48 pm

Here is a very good table which gives many crypto coins and there latest growth.
There are 1055 of them on that list!

User avatar
StevePIraq
Legend
Legend
Posts: 2153
Joined: Sat Jun 28, 2008 1:21 pm
Location: Ting Tong Land

Re: Bitcoin mining and cryptocurrency thread

Post by StevePIraq » Mon Aug 14, 2017 3:01 pm

Yep and most people think there is only Bit Coin
"Live everyday as if it were your last because someday you're going to be right." Muhammad Ali

User avatar
StevePIraq
Legend
Legend
Posts: 2153
Joined: Sat Jun 28, 2008 1:21 pm
Location: Ting Tong Land

Re: Bitcoin mining and cryptocurrency thread

Post by StevePIraq » Mon Aug 14, 2017 3:10 pm

This is a review of the service provided by CEX, just goes to show that online it is very hard to trust.
Danedwardmane wrote:
I have been waiting on a bank transfer for over 37 days. CEX REFUSES to give me any of the transaction information to track or confirm the transaction details. Right now, I am out over $1300 and now the support team has stopped communicating with me.

After a few days, I contacted CEX to see if I could track my money, and they said to be patient and told me it could take up to 20 business days. I waited, checking in periodically to try and track it and was sent the same "copy and paste" message about being patient every time.

After about 4 weeks, they told me my money had been captured for an "anti money laundering" investigation. After another week of waiting, I checked back in and was told I needed to provide screen shots of my deposit of my money from ANOTHER website, the transfer screenshots from ANOTHER website, and HOW I GOT THE MONEY........ After I provided those details, I have received the same "be patient" email.

I wrote a review to warn others on other sites, and they have been attempting to delete them so I cannot warn others. PLEASE think again if you are thinking about dealing with this site. These people are snakes, and most likely, if you invest any type of currency in this "exchange", you will likely not see it again.
"Live everyday as if it were your last because someday you're going to be right." Muhammad Ali

Thistle
Specialist
Specialist
Posts: 139
Joined: Mon Jul 28, 2014 5:15 pm
Location: Hua Hin

Re: Bitcoin mining and cryptocurrency thread

Post by Thistle » Mon Aug 14, 2017 3:25 pm

Many people will criticize this form of trading/speculative/gambling outlets.
Best solution,sit down with someone you know well who is currently involved in this type of financial trading practice,watch/learn/listen,,,,,,,,,,and then decide if its for you.If you have a current strong financial portfolio,and are happy with your current returns,then i would think twice about an investment in something which can be so volatile,for no apparent reason!!!

User avatar
migrant
Rock Star
Rock Star
Posts: 3716
Joined: Tue Aug 08, 2006 6:15 am
Location: California is now in the past hello Thailand!!

Re: Bitcoin mining and cryptocurrency thread

Post by migrant » Mon Aug 14, 2017 5:35 pm

I'm a believer in breaking your investments into separate pools. The pools each have a risk factor and, as I have gotten older, and accumulated a bit, the risky pools have decreased. I haven't tried any of the electronic currencies, but may put a small pool into it after more study.

I keep an updated projection of my investments, projected costs, and use this to ensure I can still afford cigars
The essence of life lies with the dispensing with of formalities

User avatar
buksida
Moderator
Moderator
Posts: 15566
Joined: Tue Dec 31, 2002 12:25 pm
Location: south of sanity
Contact:

Re: Bitcoin mining and cryptocurrency thread

Post by buksida » Thu Aug 17, 2017 2:42 pm

Thailand To Apply Blockchain To Postal Services And IoT To Railways
Thailand state agencies are looking to modernize postal and railway services through budding technologies.

Thailand Post and State Railway of Thailand (SRT) are seeking to integrate blockchain technology and internet of things (IoT), respectively, to their service platforms. Thailand Post director Thitipong Nandhabiwat predicts that blockchain technology may be implemented by the end of 2017, or shortly thereafter. Blockchain technology can be used to add a layer of security to the delivery of high value parcels, like luxury items.

"Blockchain is secure and trusted as only authorised persons are allowed to open parcels," Nandhabiwat said.

With similar goals of introducing new technology, SRT seeks to innovate with IoT devices. As per the report, SRT's chief information officer Sirima Hiruncharoenvate said that the National Broadcasting and Telecommunications Commission has approved broadcasting between the 800-900 megahertz spectrum, which would allow a wireless communications array to integrate with IoT sensors. Such sensors may provide better alerts to authorities, enabling them to more effectively stop trains to prevent accidents and perhaps save lives.

"It will also improve the logistics service of goods delivery," said Hiruncharoenvate.

Given the synergy between blockchain-based technologies and IoT devices, it is not a far stretch of the imagination to see a possible collaboration of technology platforms between these two state-run agencies, with IoT devices reporting to a blockchain platform. If this happens, it’s possible that both Thailand Post’s and SRT’s applications of blockchain technology and IoT may give rise to a shared technology that can track posts going through rail channels.

Source: https://www.ethnews.com/thailand-to-app ... o-railways
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
Get out there: On The Road Asia

User avatar
Vital Spark
Ace
Ace
Posts: 1699
Joined: Wed Feb 14, 2007 10:34 pm
Location: Nakhon Pathom

Re: Bitcoin mining and cryptocurrency thread

Post by Vital Spark » Thu Aug 24, 2017 7:45 pm

Crytocurrency is certainly a minefield, and you can find conflicting articles with a click of a mouse. One of the currencies attracting quite a lot of interest is Ripple. The crypto fans don't like it because it's getting into bed with the banks, and they believe that the whole idea of cryptocurrencies is to cut out the bad guys (banks). I personally think that it's sour grapes. There will always be traditional banks, and, hopefully, cryptocurrency is here to stay.

Here are a couple of articles about Ripple. There is a lot of other stuff written on various forums, but I tend to stick to articles (rather than chit-chat) when deciding what to buy. It still doesn't make it easy though...

http://hivergent.com/you-shouldnt-inves ... ts-a-scam/

https://btcmanager.com/what-is-ripple-i ... nvestment/

VS :?
"Properly trained, man can be a dog's best friend"

User avatar
buksida
Moderator
Moderator
Posts: 15566
Joined: Tue Dec 31, 2002 12:25 pm
Location: south of sanity
Contact:

Re: Bitcoin mining and cryptocurrency thread

Post by buksida » Thu Aug 31, 2017 2:52 pm

Bitcoin jumps over $4,700 after North Korean tensions
Bitcoin seems to keep smashing records, as it hit an all-time highest value of $4,703 following yesterday’s launch of a North Korean missile over Japanese airspace. Ethereum, the second most valuable cryptocurrency on the market, is also trading close to its all-time high.

Bitcoin’s value has seen a rise of 260% since the beginning of the year, and 590% over the last 12 months. Ethereum has gained 4,400% since January. Currently, Ethereum is trading at $376 per coin, not too far from its all-time high of $396 set in mid-June.

https://ibsintelligence.com/bitcoin-jum ... -tensions/
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
Get out there: On The Road Asia

User avatar
StevePIraq
Legend
Legend
Posts: 2153
Joined: Sat Jun 28, 2008 1:21 pm
Location: Ting Tong Land

Re: Bitcoin mining and cryptocurrency thread

Post by StevePIraq » Thu Aug 31, 2017 3:56 pm

I believe it is not just North Korean worries but global economies in general. Once upon a time gold was the hedge, I think the smarter guys and VS of course are moving into Crypto.

Gold and silver are both still in the doldrums after 5 years.
"Live everyday as if it were your last because someday you're going to be right." Muhammad Ali

AJBangkok
Amateur
Amateur
Posts: 47
Joined: Mon Apr 11, 2016 9:26 am

Re: Bitcoin mining and cryptocurrency thread

Post by AJBangkok » Fri Sep 01, 2017 9:04 am

I don't see crypto currencies being sustainable. First of all they are competing with governments to create money. In order for a government to survive/exist they must have the ability to issue fiat currency and control money supply. Crypto currencies are tiny now a bit like a single cell organism on an elephant in terms of global money supply so governments aren't really bohered they'll break the rice bowl.

Second pretty much every government in the world is moving toward cashless societies in order to secure their taxation revenue base. ( they give other reasons but ultimately it's to generate more tax revenues ) The existence of Crypto currencies fly in the face of this. Finally if and when the governments decide crypto currencies are eroding their money base and ability to tax commerce then they'll just say crypto currencies are financing terrorism, drugs or black market atcivities and ban them. The 99.9999% of the global population who don't dally in cripto currencies won't give a toss.

They are not going to disappear overnight but they are unsustainable so enjoy the ride while you can

Post Reply

Who is online

Users browsing this forum: sefty and 17 guests