Bitcoin mining and cryptocurrency thread

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Re: Bitcoin mining and cryptocurrency thread

Post by buksida » Tue Oct 10, 2017 9:29 am

Bitcoin Eyes Test of Record High
Bitcoin prices rose on Monday, surpassing $4,700 for the first time in six weeks as the digital currency edges closer to its recent record high while Bitcoin Cash came under pressure dipping below a key support level.

On the U.S.-based Bitfinex exchange, bitcoin rose to $4,761.1, up $146.6, or 3.18%.

Bitcoin prices are back above pre-China-ban levels as traders anticipate the next leg higher in the digital currency could see it test its all-time high of $4,969. The sharp move higher has seen bitcoin’s market cap surge to $79.78 billion

The recovery in Bitcoin prices comes less than a month after China clamped down on bitcoin related activity, ordering domestic bitcoin exchanges to cease operations.

https://www.investing.com/news/cryptocu ... -13-538934

People are dropping their altcoins (which are all down) in order to buy back BTC to get some Bitcoin Gold after the fork.

More on what is happening: https://motherboard.vice.com/en_us/arti ... big-miners
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Re: Bitcoin mining and cryptocurrency thread

Post by Nereus » Fri Oct 13, 2017 3:48 pm

‘Sky’s the limit’ after bitcoin hits all-time high

https://thewest.com.au/business/markets ... b88628349z

Bloomberg and wires
Friday, 13 October 2017 12:36PM

Bitcoin bubble or just the beginning? Or both? Those are the questions being asked around the world after the digital currency breached $US5000 ($6385) for the first time, pushing this year’s gains to more than fivefold.

As recently as December, bitcoin — a worldwide cryptocurrency and digital payment system — was trading at less than $US1000. Since then, it has dodged everything from tightening regulations, feuding factions splitting its underlying blockchain and warnings from financial bigwigs.

The latest surge is being driven in part by increasing institutional interest, with some previous sceptics saying they are now open to ways to get involved.

Interest is growing by the day, as measured by internet searches. SEMrush, a data analytics firm, found the price had a 96 per cent correlation with Google searches on bitcoin, suggesting that growing interest in the cryptocurrency is helping to drive demand.

Bitcoin tumbled below $US4000 last month after China’s central bank banned initial coin offerings and ordered all cryptocurrency exchanges to close. Reports that the Chinese government will ease those regulations is also helping the price.

“I wouldn’t be surprised to see it double from here in a very short space of time. There’s a long time to run before people get tired of chasing the next big thing.”
Ben Kumar

A rotation out of digital tokens sold in initial coin offerings (ICO) and into bitcoin is providing an additional boost.
Investors are becoming increasingly wary as projects with little substance have mushroomed, and as hacks and technical issues have caused some to lose thousands.
“Everyone seemed to agree that once it broke through $US5000, the sky is the limit,” said Ben Kumar, a money manager at Seven Investment in London.

“I wouldn’t be surprised to see it double from here in a very short space of time. There’s a long time to run before people get tired of chasing the next big thing.”

Bitcoin’s rally and the proliferation of other digital assets is attracting the wary eyes of regulators globally. China and South Korea banned ICOs, while Russian President Vladimir Putin this week called for regulation of the sector.

At least 13 other countries have imposed new rules or announced plans to tighten regulations.

The digital currency’s surge has divided the financial community between those convinced it is a bubble on the verge of popping while other big-name investors like Mark Cuban and Mike Novogratz said they are investing in the sector.

Novogratz, who is starting a $US500 million cryptocurrency fund, said this week he believes the price will double to $US10,000 in less than a year.

The road is sure to be rocky, as bitcoin’s volatility is still 10 times that of gold.

And if you do have some bitcoin burning a hole in your digital wallet, you could use it to buy a second passport.

Vanuatu will now let outsiders use the cryptocurrency to apply for so-called investment citizenship.

Fork over the equivalent of about $US280,000, and your family of up to four can receive passports from what the New Economics Foundation, a UK-based think tank, calls the fourth-happiest country in the world.

Vanuatu isn’t the only island that offers citizenship for a price. The list includes Antigua, Grenada, Malta, and St Kitts and Nevis but it’s the first to allow payments via bitcoin.
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Re: Bitcoin mining and cryptocurrency thread

Post by Vital Spark » Fri Oct 13, 2017 4:29 pm

For those of us who are in it, these lovely positive reports are very welcome. I think that generally people are becoming more comfortable with Cryptocurrencies.

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Re: Bitcoin mining and cryptocurrency thread

Post by Vital Spark » Sat Oct 14, 2017 7:24 pm

This is an interesting news site with up-to-date news published about cryptocurrencies.

http://www.newsnow.co.uk/h/Technology/T ... ds/Bitcoin

VS

I see Jamie Dimon at JP Morgan is at it again...
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Re: Bitcoin mining and cryptocurrency thread

Post by Nereus » Sat Oct 28, 2017 10:07 pm

IF YOU BOUGHT $100 OF BITCOIN 7 YEARS AGO, YOU'D BE SITTING ON $145.8 MILLION NOW AFTER NEW RECORD HIGH

http://www.investingdaily.me/index-12.p ... 6eb&geo=TH

Bitcoin has turned so many people into millionaires that traders have dubbed the coin "lambo", which refers to the amount of time it will take before they can cash out with enough to buy a Lamborghini, says Elliott Prechter, president of Qualitative Analytics, a tech-powered financial forecasting firm. Over the course of seven years, Bitcoin's value has multiplied 1,759,998 times. If an investor had decided to spend five dollars on about 2,000 Bitcoins in 2010, that stake would be worth $8.8 million today. With $1,200 spent on some 480,000 Bitcoins, the investor would be worth at least $2.2 billion.
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Re: Bitcoin mining and cryptocurrency thread

Post by Arlo » Sun Oct 29, 2017 1:38 am

By February it will be worth around $10,000 a coin, it might even happen sooner. It’s still the early stages for crypto currency, you don’t want to be kicking yourself for not buying it. There is no guarantee as we all know, so do your own research.

Purchasing bitcoin is very easy to do. You can set up an account on www.coinbase.com and they offer bitcoin and a couple other coins. After that step you can start trading Altcoins if you are interested. Www.bittrex.com is an exchange with many altcoins to choose from if you want to trade altcoins. There are other exchanges out there too if you don’t like bittrex. A word of caution though is always type in the address you want to go to or use the link from this page, www.coinmarketcap.com . Never google it and use the link from google or any other page. There are fake sites out there that look just like the site you want to use but they will steal your info. Never click on a page that says “Ad” if you do google it. The best bet is to type it in and make sure you did that correctly and then save that page and always use that link. Everyday I read about people getting there accounts hacked into and these spoof sites are the most common way. Also get the google 2 step verification and use it.

If you are from Australia I have read many people like https://www.independentreserve.com for purchasing bitcoin. I have never used it but it’s based in Australia so you might want to check it out.
Last edited by Arlo on Sun Oct 29, 2017 1:56 am, edited 1 time in total.

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Re: Bitcoin mining and cryptocurrency thread

Post by Arlo » Sun Oct 29, 2017 1:54 am

Once you get your feet wet and you are a bit more comfortable you can avoid paying the fees at coinbase. Here is a link with the directions on how to do it. It’s also pretty easy to do and can save you some $$. http://www.coinstreet.io/one-simple-tri ... base-fees/

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Re: Bitcoin mining and cryptocurrency thread

Post by buksida » Sun Oct 29, 2017 8:27 am

I would avoid Coinbase completely, they charge you at every move you make, have transaction limits on what you can buy, and only offer three coins.

If you are in Thailand and have a Thai bank account use www.bx.in.th. Plenty of altcoins and only 0.25% commission. :thumb:
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Re: Bitcoin mining and cryptocurrency thread

Post by Arlo » Sun Oct 29, 2017 11:59 am

buksida wrote:
Sun Oct 29, 2017 8:27 am
I would avoid Coinbase completely, they charge you at every move you make, have transaction limits on what you can buy, and only offer three coins.

If you are in Thailand and have a Thai bank account use www.bx.in.th. Plenty of altcoins and only 0.25% commission. :thumb:
I agree coinbase is expensive but it is one of the easiest places to start getting into cryptocurrency. If you use their other site Gdax you will pay no fees when you buy Bitcoin if you do a limit buy. You can also add dollars to your account for free on Gdax. I left a link in my last post that shows how to do this. Transferring Bitcoin to another wallet is also easy and you are only charged miner fees. It's really not that bad if you use Gdax which is owned by coinbase. No matter what site you use it's great to see more people buying it up. Bittrex is a good place for the altcoins they have more to choose from than any other place I have seen.

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Re: Bitcoin mining and cryptocurrency thread

Post by buksida » Sun Oct 29, 2017 5:29 pm

Those authoritarian Asian governments sure don't like cryptos, Vietnam just banned it: http://ethereumworldnews.com/vietnam-ve ... urrencies/
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Re: Bitcoin mining and cryptocurrency thread

Post by buksida » Wed Nov 01, 2017 7:59 pm

Even the Bangkok Post loves a bit of Bitcoin:

Cryptocurrencies hit record high as bitcoin tops $6,500
The aggregate value of all cryptocurrencies hit a record high of around $184 billion on Wednesday, according to industry website Coinmarketcap, making their reported market value worth around the same as that of Goldman Sachs and Morgan Stanley combined.

The new peak came as the biggest and best-known cryptocurrency, bitcoin, hit a record high of more than $6,500. That took its own "market cap" - its price multiplied by the number of coins that have been released into circulation - to a record high just shy of $110 billion.

The latest surge in bitcoin - which has seen an eye-watering increase of almost 800 percent in the past 12 months - was driven by news on Tuesday that CME Group, the world's largest derivative exchange operator, would launch bitcoin futures in the fourth quarter of the year.

The announcement was seen as a major step in the digital currency's path toward legitimacy and mainstream financial adoption.

The second-most valuable cryptocurrency Ether - sometimes known as "Ethereum", after the project behind it - was trading slightly down on the day at $302 per coin, having hit a record high of more than $410 in June.

https://www.bangkokpost.com/business/wo ... tops-6-500
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Re: Bitcoin mining and cryptocurrency thread

Post by Vital Spark » Wed Nov 01, 2017 8:23 pm

buksida wrote:
Wed Nov 01, 2017 7:59 pm
Even the Bangkok Post loves a bit of Bitcoin:
So do I. :D

I'm holding on and we'll see what happens on November 13th, when the hard fork takes place. I'll have my fingers poised for a quick sell if it all goes downwards.

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Re: Bitcoin mining and cryptocurrency thread

Post by buksida » Wed Nov 01, 2017 8:36 pm

SegWit2x will certainly shake things up, it's a little more complicated than the Bitcoin Cash and Gold forks.
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Re: Bitcoin mining and cryptocurrency thread

Post by Vital Spark » Wed Nov 01, 2017 10:25 pm

Too right it's complicated. I've been reading up on what might happen to Bitcoin and other currencies after the split, and I'm really no wiser as half of the stuff I read I don't understand. There are a lot of articles on the net, and it's difficult to sort out the chaff from the wheat. Some are sponsored by specific cryptos and will obviously promote future gains, some are written by disgruntled bankers, and some written by 'experts' in the field who can get it wrong. I did a little hunt on articles written about 6 months ago, and some them were way off in their predictions about whatever they were writing about.

None of us really know what is being discussed about crypto currencies in parliaments and boardrooms across the world that can have a massive impact on the price of coins overnight (both positive and negative).

VS

P.S. While I'm happy with the price of Bitcoin, I'm a little miffed the way it's affecting other currencies. Those of us with a portfolio spread are gaining and losing...
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Re: Bitcoin mining and cryptocurrency thread

Post by PBbeacher » Thu Nov 02, 2017 7:33 am

buksida wrote:
Sun Oct 29, 2017 5:29 pm
Those authoritarian Asian governments sure don't like cryptos, Vietnam just banned it: http://ethereumworldnews.com/vietnam-ve ... urrencies/
That's too bad. My mate was just there and said they were accepting btc and eth in cafes! 1 step forward...

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