Bitcoin mining and cryptocurrency thread

Technology, computers, internet, websites, mobiles, cameras, audio and video.
SPONSORS: Hua Hin Web Design
Post Reply
User avatar
buksida
Moderator
Moderator
Posts: 15922
Joined: Tue Dec 31, 2002 12:25 pm
Location: south of sanity
Contact:

Re: Bitcoin mining and cryptocurrency thread

Post by buksida » Fri Nov 24, 2017 5:27 pm

Its now Ethereum's turn to join the party ...

Ethereum Making Investors Happy: Flies Past And Over The $400
http://ethereumworldnews.com/ethereum-m ... -past-400/
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

Pleng
Legend
Legend
Posts: 2662
Joined: Fri Apr 08, 2011 2:04 am
Location: Hua Hin

Re: Bitcoin mining and cryptocurrency thread

Post by Pleng » Sat Nov 25, 2017 1:08 pm

buksida wrote:
Fri Nov 24, 2017 5:27 pm
Its now Ethereum's turn to join the party ...

Ethereum Making Investors Happy: Flies Past And Over The $400
http://ethereumworldnews.com/ethereum-m ... -past-400/
Both Ethereum and Litecoin have had a good couple of days. I have a bit of both but I'm rooting for LiteCoin because it's the only one that I actually have a whole coin (nearly 2)'s worth.
Vital Spark wrote:
Tue Nov 21, 2017 12:13 am
The slight difference is that it's too big now to go down to zero. It just won't happen. So, even if you lose some money, you will walk away with a few baht in your pocket.
Of course it can go down to zero... Anything can. If there was some fundamental flaw discovered that enabled it to be easily hacked and stolen, if the transaction fees become so big as to make it simply unusable, or a hundered other ifs.... If it ever gets to the point that nobody wants it any more; then it's worthless. It looks unlikely that it will ever happen, but it's certainly not impossible.

User avatar
buksida
Moderator
Moderator
Posts: 15922
Joined: Tue Dec 31, 2002 12:25 pm
Location: south of sanity
Contact:

Re: Bitcoin mining and cryptocurrency thread

Post by buksida » Sat Nov 25, 2017 1:30 pm

This is why it is a good idea to spread your portfolio and not just invest in the one coin/asset.
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
buksida
Moderator
Moderator
Posts: 15922
Joined: Tue Dec 31, 2002 12:25 pm
Location: south of sanity
Contact:

Re: Bitcoin mining and cryptocurrency thread

Post by buksida » Sun Nov 26, 2017 1:18 pm

Seemingly unstoppable Bitcoin pushes past $9,000

Individuals Flock to Bitcoin and Asian Demand Soars, Pushing Price to All Time High
https://cointelegraph.com/news/individu ... -time-high
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

Pleng
Legend
Legend
Posts: 2662
Joined: Fri Apr 08, 2011 2:04 am
Location: Hua Hin

Re: Bitcoin mining and cryptocurrency thread

Post by Pleng » Sun Nov 26, 2017 1:54 pm

Can anybody suggest a good site where you can buy and sell coins (Bit, Lite and Eth, to be precise...) in GPB. Coinbase very helpfully allow you to *buy* in GPB, but they don't allow you to sell. When I've wanted to sell off my BitCoin, I've had to transfer to a wallet at LocalBitcoins, then transfer to a buyer from there - meaning I'm paying two transfer fees and getting a less favourable rate in the mean time. Lite and Eth I simply have no idea how I'd offload if I ever wanted to... other than maybe post in the classifieds here! :)

User avatar
Vital Spark
Ace
Ace
Posts: 1826
Joined: Wed Feb 14, 2007 10:34 pm
Location: Nakhon Pathom

Re: Bitcoin mining and cryptocurrency thread

Post by Vital Spark » Sun Nov 26, 2017 7:06 pm

We're also looking for a good site for when we return to the UK in July, Pleng.

Surely, there is an alternative to Coinbase, which can offer an easier and cheaper way of trading.

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

matador
Rookie
Rookie
Posts: 13
Joined: Fri Mar 07, 2014 3:42 pm

Re: Bitcoin mining and cryptocurrency thread

Post by matador » Mon Nov 27, 2017 2:34 am

Kraken and BitFinex ?

User avatar
buksida
Moderator
Moderator
Posts: 15922
Joined: Tue Dec 31, 2002 12:25 pm
Location: south of sanity
Contact:

Re: Bitcoin mining and cryptocurrency thread

Post by buksida » Mon Nov 27, 2017 10:22 am

Yep, Kraken is a good alternative to Coinbase. I gave up on them months ago and moved most of my crypto to BX, but of course with that you have to trade in THB.

0.25% commission sure beats 4% at coinbase.

I'll give you $250 for your ETH. :duck:
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
Nereus
Addict
Addict
Posts: 6289
Joined: Tue Jan 02, 2007 3:01 pm
Location: Hua Hin and Bangkok

Re: Bitcoin mining and cryptocurrency thread

Post by Nereus » Mon Nov 27, 2017 11:06 am

Bitcoin soars towards $10,000

https://www.bangkokpost.com/news/world/ ... recent_box

Published: 27/11/2017 at 10:37 AM
Online news:

HONG KONG: Bitcoin is showing no signs of slowing down, blowing past US$9,000 less than a week after topping $8,000 and now quickly closing in on five big figures.

The price of the largest cryptocurrency by market value is soaring as it gains greater mainstream attention despite warnings of a bubble in what not everyone agrees is an asset. From Wall Street executives to venture capitalists, observers have been weighing in, with some more skeptical than others. Bitcoin has climbed more than 40%  over the past two weeks.

“Bitcoin has seen another frenzy of buying as the fear of missing out trade bites even harder,” analysts at IG Group, a trading-platform operator, wrote in a note Monday. “There are others who see downside risks from the introduction of bitcoin futures," they wrote.

The surge has swept along individual investors. The number of accounts at Coinbase, one of the largest platforms for trading bitcoin and rival ethereum, has almost tripled to 13 million in the past year, according to Bespoke Investment Group LLC.

Bitcoin climbed as high as a record $9,720.95 Monday, and was recently up about 16% compared with trading late on Friday.

The rapid appreciation has made it difficult for bullish analysts and investors to keep their predictions up to date. Hedge fund manager Mike Novogratz, who is starting a $500 million fund to invest in cryptocurrencies, said last week that bitcoin would end the year at $10,000. A day later, Fundstrat head of research Thomas Lee doubled his price target to $11,500 by the middle of 2018.

In a move toward mainstream investing, CME Group Inc. has said it plans to start offering futures contracts for bitcoin, which could begin trading in December. JPMorgan Chase & Co, the largest U.S. bank, was weighing last week whether to help clients bet on bitcoin via the proposed futures contracts, according to a person with knowledge of the situation.

Bitcoin’s surge in value is forcing Wall Street banks to balance clients’ interest in speculating on the cryptocurrency with executives’ skepticism about its future. JPMorgan Chase & Co. Chief executive officer Jamie Dimon has been one of bitcoin’s most prominent detractors, calling it a fraud and deriding buyers as “stupid,” while his finance chief, Marianne Lake, has struck a more measured tone. The firm is “open minded” to the potential uses for digital currencies so long as they are properly regulated, she said last month.

The total market cap of digital currencies now sits north of $300 billion, according to Coinmarketcap.com’s website.
.........................................................................................
Erm, surely it has to crash sometime?
May you be in heaven half an hour before the devil know`s you`re dead!

User avatar
STEVE G
Hero
Hero
Posts: 11844
Joined: Mon Apr 03, 2006 3:50 am
Location: HUA HIN/EUROPE

Re: Bitcoin mining and cryptocurrency thread

Post by STEVE G » Mon Nov 27, 2017 12:56 pm

Erm, surely it has to crash sometime?
Yes, the whole thing is unsustainable, apparently it now takes something like 200 kwh of electricity to "mine" a Bitcoin, that is plain lunacy. Transactions are slow and expensive and it's not possible to scale it up to the size it would need to be a usable currency.

User avatar
buksida
Moderator
Moderator
Posts: 15922
Joined: Tue Dec 31, 2002 12:25 pm
Location: south of sanity
Contact:

Re: Bitcoin mining and cryptocurrency thread

Post by buksida » Mon Nov 27, 2017 1:13 pm

STEVE G wrote:
Mon Nov 27, 2017 12:56 pm
Yes, the whole thing is unsustainable, apparently it now takes something like 200 kwh of electricity to "mine" a Bitcoin, that is plain lunacy. Transactions are slow and expensive and it's not possible to scale it up to the size it would need to be a usable currency.
Maybe but then why are Litecoin, Ethereum, Dash, Omise, Neo and a bunch of other crypto currencies also flying high when they don't have the issues mentioned above. Many of them are solid technologies that will be used in the future, the epic rise of BTC itself maybe unsustainable, but the concept definitely isn't.

There will always be the naysayers and those that wont go against the institutions.
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

Pleng
Legend
Legend
Posts: 2662
Joined: Fri Apr 08, 2011 2:04 am
Location: Hua Hin

Re: Bitcoin mining and cryptocurrency thread

Post by Pleng » Mon Nov 27, 2017 3:09 pm

matador wrote:
Mon Nov 27, 2017 2:34 am
Kraken and BitFinex ?
buksida wrote:
Mon Nov 27, 2017 10:22 am
Yep, Kraken is a good alternative to Coinbase. I gave up on them months ago and moved most of my crypto to BX, but of course with that you have to trade in THB.

0.25% commission sure beats 4% at coinbase.
Thanks I'll check them out.
I'll give you $250 for your ETH. :duck:
Seeing as I only own 0.3 ETH that sounds like a very good offer :D
buksida wrote:
Mon Nov 27, 2017 1:13 pm
Maybe but then why are Litecoin, Ethereum, Dash, Omise, Neo and a bunch of other crypto currencies also flying high when they don't have the issues mentioned above. Many of them are solid technologies that will be used in the future, the epic rise of BTC itself maybe unsustainable, but the concept definitely isn't.

There will always be the naysayers and those that wont go against the institutions.
They're probably also flying high because they don't have the issues mentioned above... If BitCoin does crash, and I'm pretty certain it will eventually because it's simply not fit for purpose, then the altcoins will be battling it out to take its place.

User avatar
buksida
Moderator
Moderator
Posts: 15922
Joined: Tue Dec 31, 2002 12:25 pm
Location: south of sanity
Contact:

Re: Bitcoin mining and cryptocurrency thread

Post by buksida » Mon Nov 27, 2017 3:14 pm

Yes, it wasn't a question but a statement.
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: 11844
Joined: Mon Apr 03, 2006 3:50 am
Location: HUA HIN/EUROPE

Re: Bitcoin mining and cryptocurrency thread

Post by STEVE G » Mon Nov 27, 2017 3:21 pm

buksida wrote:
Mon Nov 27, 2017 1:13 pm
STEVE G wrote:
Mon Nov 27, 2017 12:56 pm
Yes, the whole thing is unsustainable, apparently it now takes something like 200 kwh of electricity to "mine" a Bitcoin, that is plain lunacy. Transactions are slow and expensive and it's not possible to scale it up to the size it would need to be a usable currency.
Maybe but then why are Litecoin, Ethereum, Dash, Omise, Neo and a bunch of other crypto currencies also flying high when they don't have the issues mentioned above. Many of them are solid technologies that will be used in the future, the epic rise of BTC itself maybe unsustainable, but the concept definitely isn't.

There will always be the naysayers and those that wont go against the institutions.
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.

Pleng
Legend
Legend
Posts: 2662
Joined: Fri Apr 08, 2011 2:04 am
Location: Hua Hin

Re: Bitcoin mining and cryptocurrency thread

Post by Pleng » 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:

Post Reply

Who is online

Users browsing this forum: No registered users and 4 guests