Bitcoin mining and cryptocurrency thread

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buksida
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Re: Bitcoin mining and cryptocurrency thread

Post by buksida » Thu Nov 30, 2017 5:19 pm

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Re: Bitcoin mining and cryptocurrency thread

Post by johnjar » Thu Nov 30, 2017 5:32 pm

The big boys will be starting their old pump and dump trading again like they did with the pound sterling, and some Asian currencies in the 90's, or maybe that's what's going on with bitcoin now.

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Re: Bitcoin mining and cryptocurrency thread

Post by matador » Thu Nov 30, 2017 10:42 pm

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:
Hi Pleng,

You are correct with BitFinex. That said I have to call bullshit on Kraken.
kraken_gbp.png
They have a Bitcoin/GBP cross.... and ETH/GBP too.

:banghead:

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Re: Bitcoin mining and cryptocurrency thread

Post by Nereus » Fri Dec 01, 2017 12:24 pm

US Fed warns bitcoin fever poses financial risks as cryptocurrency hype escalates

https://thewest.com.au/business/money/u ... b88677904z

While bitcoin's price has sky rocketed, experts warn it won't hold its value.

Bitcoin fever was dealt a dose of central bank reality last night after the US Federal Reserve warned the cryptocurrencies posed financial stability risks as they grew exponentially.

Capping off a wild week, the price of bitcoin dived almost 10 per cent to a low of $US9030 after Fed vice-chairman of supervision Randy Quarles said while digital currencies may not pose major concerns at their current levels of use, “more serious financial stability issues may result if they achieve wide-scale usage”.

But as it did earlier this week when it plunged 21 per cent from a record of of $US11,434 to $US9000, the world’s most watched “asset” rebounded back to $US9748.

Rival cryptocurrency ethereum crashed 20 per cent.

Bitcoin remains up about 1200 per cent for the past year amid reports of hundreds of thousands of accounts being opened on a weekly basis around the world.

Mr Quarles said the vast majority of global payments by volume and value were processed by regulated financial institutions and in the US payment system, digital currencies were a “niche product that sometimes garners large headlines”.
He also warned that the “currency” or asset at the centre of some of these systems was not backed by other secure assets, “has no intrinsic value, is not the liability of a regulated banking institution, and in leading cases, is not the liability of any institution” at all.

“Indeed, how to treat and define this new asset is complicated,” he said.

If the central “asset”, such as bitcoin, in a payment system could not be predictably redeemed for the US dollar at a stable exchange rate in times of adversity, the resulting price risk and potential liquidity and credit risk posed “a large challenge for the system”, he said.
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Re: Bitcoin mining and cryptocurrency thread

Post by Pleng » Fri Dec 01, 2017 1:10 pm

matador wrote:
Thu Nov 30, 2017 10:42 pm
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:
Hi Pleng,

You are correct with BitFinex. That said I have to call bullshit on Kraken.
I saw those too, until I logged in at which point they promptly disappeared. ":banghead:" ...
I can't log in again to verify at the moment as the site appears to be having some issues.

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Re: Bitcoin mining and cryptocurrency thread

Post by buksida » Tue Dec 05, 2017 9:53 am

This one is very interesting, it is a blockchain exchange solution to get around all the fees and commissions. The team has connections with Singapore, Japan and Thailand where it is currently being tested:

OmiseGO
http://ethereumworldnews.com/omise-gets-go/

Still a cheap altcoin to invest in at $9-$10, will go higher next year when they start rolling out wallets and the platform.
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Re: Bitcoin mining and cryptocurrency thread

Post by Nereus » Tue Dec 05, 2017 10:13 am

Bitcoin now bigger than Buffett, Boeing and New Zealand

https://www.bangkokpost.com/business/ne ... d#cxrecs_s

HONG KONG: Bitcoin’s extraordinary price surge means its market capitalisation now exceeds the annual output of whole economies, and the estimated worth of some of the world’s top billionaires.

With the debate over its bubble status still raging, the flagship cryptocurrency continued its march higher on Monday, solidifying above $11,000 (359,000 baht) and bringing its climb this year to more than 1,000%. With market tracker Coinmarketcap.com putting the total value of all bitcoins in circulation at $190 billion (6.2 trillion baht), it’s come a long way from August, when one coin could buy you a hefty supply of avocados.

Here are five things that have been eclipsed by bitcoin in terms of market capitalisation:

New Zealand’s GDP
The South Pacific nation’s farm-and-tourism-led economy is valued at $185 billion, according to World Bank data as of July, putting it some $5 billion below bitcoin. The cryptocurrency’s market cap is also bigger than the likes of Qatar, Kuwait and Hungary.

Goldman Sachs, and UBS
Bitcoin’s run-up has even seen it valued more highly than two of the world’s most influential banks. Goldman Sachs Group Inc.’s market cap was $97 billion as of Friday, while Zurich-based UBS Group AG came in at about $67 billion. Add those numbers together and it still falls short of bitcoin.

Both financial heavyweights have taken a hands-off approach to the digital currency, with Goldman CEO Lloyd Blankfein saying it’s too early to draft a bitcoin strategy and UBS -- the world’s biggest wealth manager -- saying it won’t allocate it in portfolios because of the threat of a government crackdown.

Boeing
It may make jumbo jets but Boeing Co.’s market cap of $162 billion is also less than that of a digital currency that didn’t exist 10 years ago. The Chicago-based company, which describes itself as the world’s largest aerospace firm, is more than a century old and employs 140,000 people in more than 65 countries, according to its website. Rival Airbus SE fares no better -- it’s got a market value of 66 billion euros ($78 billion).

Fourteen Aircraft Carriers
If bitcoin’s market cap could be used to buy military equipment, it would pack a mighty punch. The USS Gerald R. Ford, the first of a new class of nuclear-powered supercarriers, was delivered to the US Navy in May. It cost an estimated $13 billion, so if investors put all their bitcoins together they would be able to buy a fleet of fourteen ships.

Bill Gates, Buffett and the Queen (plus a mystery buyer in Thailand :shock:)
They sit atop Bloomberg’s Billionaires Index, but even if Bill Gates and Warren Buffett pooled their fortunes they wouldn’t have enough to buy all the bitcoins in circulation. Gates is worth $90 billion and Buffett has $83 billion, according to the index. Not even Queen Elizabeth II could get them over the line if she brought her $383 million to the table. While we don’t know what he told Katy Perry, Buffett has called bitcoin a “real bubble” in the past.
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Re: Bitcoin mining and cryptocurrency thread

Post by buksida » Wed Dec 06, 2017 10:12 am

Bitcoin breaks above $12,000 for the first time
Bitcoin broke above the $12,000 mark Wednesday morning Asia-time, as the cryptocurrency continued its march higher.

As of 10:41 a.m. SIN/HK, the digital token was selling for $12,123.98, according to industry site CoinDesk.

The asset began 2017 at less than $1,000 per token, but it has been on an absolute tear in recent months: It crossed $5,000 in October and touched above $11,000 for the first time less than two months later, according to CoinDesk data.

https://www.cnbc.com/2017/12/05/bitcoin ... ecord.html
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Re: Bitcoin mining and cryptocurrency thread

Post by buksida » Thu Dec 07, 2017 7:50 am

24 hours later - Bitcoin now trading above $14,000


Bitcoin Rips Past $13,000 Amid Interest From Institutional Investors
The promise of institutional funds flowing into Bitcoin have sent the price of the cryptocurrency soaring above $13,200 after only just surpassing $10,000 a week earlier.

As of Wednesday, Bitcoin’s price has risen over 1,600% in the last year, buoyed by hope that institutional investors may step into the $225.9 billion market soon — pushing the asset’s value up even higher. That comes as deep-pocketed investors previously barred from the market have been given an avenue to play in the field via futures — a way for investors to bet a the price of an asset at a specific future date.

Just 24 hours earlier, the price of the asset was approximately $1,500 lower.

http://fortune.com/2017/12/06/bitcoin-p ... hard-fork/
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Re: Bitcoin mining and cryptocurrency thread

Post by StevePIraq » Thu Dec 07, 2017 10:43 am

if you have them it is time to cash in. Don't be greedy
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Re: Bitcoin mining and cryptocurrency thread

Post by Vital Spark » Fri Dec 08, 2017 12:20 am

I'm glad I didn't heed your advice, Steve. Bitcoin's now trading at nearly 582,000 baht on the bx site.

Nobody knows when the bubble will burst (or if it will). As I, and others, have said if you're trading with money that you are prepared to lose, then this is a hell of a lot of fun. Just hang on to the roller coaster, and see where it stops.

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Re: Bitcoin mining and cryptocurrency thread

Post by dundrillin » Fri Dec 08, 2017 9:08 am

Vital Spark wrote:
Fri Dec 08, 2017 12:20 am
I'm glad I didn't heed your advice, Steve. Bitcoin's now trading at nearly 582,000 baht on the bx site.

Nobody knows when the bubble will burst (or if it will). As I, and others, have said if you're trading with money that you are prepared to lose, then this is a hell of a lot of fun. Just hang on to the roller coaster, and see where it stops.

VS
It's difficult knowing when to leave the party. Too early and you may miss to fun,too late and possibly a sore head the next day. The most difficult aspect of investing is knowing when to sell. Good luck anyway. You made a great decision to buy.

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Re: Bitcoin mining and cryptocurrency thread

Post by hhinner » Fri Dec 08, 2017 11:01 am

I left the BTC party in May and switched to Ethereum and some other small stuff. Not doing my wallet any good right now, but maybe good for my blood pressure. :). When the BTC correction or great cash-in happens I wonder where the money will move to (other than expensive watches and diamond rings).

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Re: Bitcoin mining and cryptocurrency thread

Post by dundrillin » Fri Dec 08, 2017 11:21 am

hhinner wrote:
Fri Dec 08, 2017 11:01 am
I left the BTC party in May and switched to Ethereum and some other small stuff. Not doing my wallet any good right now, but maybe good for my blood pressure. :). When the BTC correction or great cash-in happens I wonder where the money will move to (other than expensive watches and diamond rings).
Property,hopefully in HuaHin. Everything else has had a good run.

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Re: Bitcoin mining and cryptocurrency thread

Post by STEVE G » Fri Dec 08, 2017 12:54 pm

Considering the unregulated nature of Bitcoin and some of the countries where the infrastructure of trading is being run from, I'm left with a suspicion that events like the "loss" of $64million of Bitcoin in Slovenia the other day could be insider jobs.
https://in.reuters.com/article/cyber-ni ... NKBN1E12JD

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