Bitcoin and all that

[Rudolf's Mate]

3 minutes ago, Marvin said:

 

yeah I remember the thread you're talking about. What's the best way to keep track of the value and how many should you invest in to get a fair return?

 

There's a few sites out there however I've been using coin market cap No reason other than I watched a guy on YouTube talking about cryptocurrencies and he was using them. There's probably better out there though.

 

I honestly couldn't say however as others have said to me, only invest what you can afford/comfortable with. Jack D mentioned that there were 3 days recently if you'd had £1k invested you'd have made £600 on it. Huge risk but you're not likely to see short term returns like that anywhere else.

[graygo]

28 minutes ago, been here before said:

There's been a blag...

 

http://www.bbc.co.uk/news/technology-42275523

 

 

Name change required for you mate, 3 times that has been posted on this thread now 

[hughesie27]

1 hour ago, Rudolf's Mate said:

 

I remember there was a thread a few years ago on here about Dogecoin. People were taking the plunge back then and some were mentioning Bitcoin. Granted the returns from 3-4 years ago are going to be hard to beat (ok maybe impossible) however if it keeps going the way it is then it's still good value.

Pretty sure I bought about 10000 Doge coin for a fiver back then.

 

worth about £20 today.

 

Edited December 8, 2017 by hughesie27

[Ray Gin]

17 minutes ago, hughesie27 said:

Pretty sure I bought about 10000 Doge coin for a fiver back then.

 

worth about £20 today.

 

 

Pretty sure I did the same. No idea what I did with my doge wallet though.

 

[hughesie27]

13 minutes ago, Ray Gin said:

 

Pretty sure I did the same. No idea what I did with my doge wallet though.

 

That was why I was asking earlier about how to recover your wallet if your computer ends up dying. Like mines did.

I'd probably still be able to recover it if I knew which program I had used. Saved all of the info for my bitcoins this time.

[Rudolf's Mate]

8 minutes ago, hughesie27 said:

That was why I was asking earlier about how to recover your wallet if your computer ends up dying. Like mines did.

I'd probably still be able to recover it if I knew which program I had used. Saved all of the info for my bitcoins this time.

 

You can pickup a hard drive cradle for pennies. You’d basically remove the HD from the pc and plug it into the cradle and it would act like an external hard drive accessible by plugging into a laptop or another PC.

[hughesie27]

4 minutes ago, Rudolf's Mate said:

 

You can pickup a hard drive cradle for pennies. You’d basically remove the HD from the pc and plug it into the cradle and it would act like an external hard drive accessible by plugging into a laptop or another PC.

Cheers, I do still have the hard drive so ill look into that should Dogecoin explode

[Rudolf's Mate]

9 minutes ago, hughesie27 said:

Cheers, I do still have the hard drive so ill look into that should Dogecoin explode

 

Mines got a feckin virus that I kept shutting down before I could even get into the bios. I don’t miss the days of downloading your evenings viewing ?

[graygo]

Well yesterday was a good day.    

[hughesie27]

Still profit for me so far. It's a long haul sort of thing. I might buy more if the expected drop comes on Sunday.

[graygo]

9 minutes ago, hughesie27 said:

Still profit for me so far. It's a long haul sort of thing. I might buy more if the expected drop comes on Sunday.

 

Yes still in profit and you're right, just a bit of fun for me and playing the long game.

[ƒιѕнρℓαρѕ]

11 minutes ago, hughesie27 said:

Still profit for me so far. It's a long haul sort of thing. I might buy more if the expected drop comes on Sunday.

There's a second futures company which will start a week on Monday, I'd be waiting till after that one too myself

[Angry Haggis]

The last few threads seem to suggest some confusion on how wallets work (which is perfectly understandable). 

 

Have a wee read of this guide on Hardware wallets which also simplifies some of the fundamentals anyone should c

grasp on Personal crypto currency a management. 

 

https://www.buybitcoinworldwide.com/wallets/

[Angry Haggis]

Also I should note if anyone has lost coins they would like to attempt to recover I may be able to help, feel free to PM me. 

 

No fix, no fee (10% of recovered funds standard charge) 

 

 

Edited December 9, 2017 by Angry Haggis

[Dean Winchester]

You dont necessarily need to go through the hassle of setting up a wallet. I use etoro for some trades and they have quite a few crypto on there that you can buy and sell into:

 

http://etoro.tw/2iHzlb5

[Rudolf's Mate]

2 hours ago, Dean Winchester said:

You dont necessarily need to go through the hassle of setting up a wallet. I use etoro for some trades and they have quite a few crypto on there that you can buy and sell into:

 

http://etoro.tw/2iHzlb5

 

 

I did wonder about them as they’re huge. What are their fees like?

[Dean Winchester]

5 minutes ago, Rudolf's Mate said:

 

 

I did wonder about them as they’re huge. What are their fees like?

Minimal in my experience for transactions.

 

Biggest hit is the $25 withdrawal charge.

[Brian Whittaker's Tache]

Stuck £150 in an eToro accounts and stuck it on Bitcoin.
 

We'll see how it goes.

 

 

[Rudolf's Mate]

55 minutes ago, Dean Winchester said:

Minimal in my experience for transactions.

 

Biggest hit is the $25 withdrawal charge.

 

Ouch!

[Ricardo Shillyshally]

One of my relations became a teenage millionaire on bitcoin a few years ago.

 

Me? I struggle with chip and pin

[William H. Bonney]

18 minutes ago, Ricardo Shillyshally said:

One of my relations became a teenage millionaire on bitcoin a few years ago.

 

Me? I struggle with chip and pin

 

My friend has made close to £150,000 from investing in Bitcoin. He gave me  £6 to get started. 

I'm so lucky. 

Edited December 9, 2017 by Jefferson Davis Hogg

[HeartOfWestLothian]

If anyone is feeling like they missed out on the whole Bitcoin thing they should consider Litecoin. 

 

It is up around 2500% this year! 

 

Don't take my word for it have a look on reddit, youtube and podcasts on cryptocurrencies and see what you make of it. 

[graygo]

4 hours ago, HeartOfWestLothian said:

If anyone is feeling like they missed out on the whole Bitcoin thing they should consider Litecoin. 

 

It is up around 2500% this year! 

 

Don't take my word for it have a look on reddit, youtube and podcasts on cryptocurrencies and see what you make of it. 

 

Or Ethereum which is up 5200% in the last year.

[Brian Whittaker's Tache]

On 09/12/2017 at 12:18, Brian Whittaker Tache said:

Stuck £150 in an eToro accounts and stuck it on Bitcoin.
 

We'll see how it goes.

 

 

Lost $23 overnight!! Tesla Model X is cancelled!

[ƒιѕнρℓαρѕ]

19 minutes ago, Brian Whittaker Tache said:

Lost $23 overnight!! Tesla Model X is cancelled!

It's going to be a rough couple of weeks, very exciting. I kind of wish mine was on gdax or something so I could trade and stay ahead of the game but I keep reminding myself I want to let it ride and see what happens so I'm glad it's on a wallet on my phone. 

I have to admit to eyeing the whole crypto market with interest, with all the different currencies there's money to be made by being just slightly ahead of the game. If I was on gdax I'd probably have been tempted into trading 90% of my btc for litecoin on Wednesday and then buy back in after the expected price drop. 

 

Fascinating though

[HeartOfWestLothian]

8 hours ago, Smithee said:

It's going to be a rough couple of weeks, very exciting. I kind of wish mine was on gdax or something so I could trade and stay ahead of the game but I keep reminding myself I want to let it ride and see what happens so I'm glad it's on a wallet on my phone. 

I have to admit to eyeing the whole crypto market with interest, with all the different currencies there's money to be made by being just slightly ahead of the game. If I was on gdax I'd probably have been tempted into trading 90% of my btc for litecoin on Wednesday and then buy back in after the expected price drop. 

 

Fascinating though

 

When did you get into/start buying BTC out of interest?

[ƒιѕнρℓαρѕ]

6 minutes ago, HeartOfWestLothian said:

 

When did you get into/start buying BTC out of interest?

Tuesday

[Brian Whittaker's Tache]

Is there any online place where you can buy in smaller quantities? Minimum trade on eToro is £150 

I'd like to spend another couple of 100 but spread it between Ethereum and LiteCoin

[HeartOfWestLothian]

19 minutes ago, Brian Whittaker Tache said:

Is there any online place where you can buy in smaller quantities? Minimum trade on eToro is £150 

I'd like to spend another couple of 100 but spread it between Ethereum and LiteCoin

 

Coinbase, you can download the app onto your phone or use their website. 

 

There will be small fees but its probably the best way for people new to cryptocurrencies to buy. 

Edited December 10, 2017 by HeartOfWestLothian

[magic roundabout]

Although I've never used it (or seen anyone else use it) there is a bitcoin atm machine in Queensferry Street (in the currency shop)

[graygo]

Bitcoin crashes stock exchange after first day of Futures trading, price up 10% so hopefully the Tache is back in the black.

 

https://www.express.co.uk/finance/city/890672/bitcoin-crash-cryptocurrency-cboe-stock-exchange-online-finance-market-investment

[Ray Gin]

Great stuff overnight, that's me up £132.

 

 

 

 

 

[John Gentleman]

On 09/12/2017 at 17:52, Angry Haggis said:

Also I should note if anyone has lost coins they would like to attempt to recover I may be able to help, feel free to PM me. 

 

No fix, no fee (10% of recovered funds standard charge) 

 

 

You should get in touch with this bloke........

http://metro.co.uk/2017/12/09/man-threw-away-laptop-with-bitcoin-that-is-now-worth-74-million-7145361/

.....and a more humorous view here (last paragraph):

https://www.gizmodo.com.au/2017/12/man-who-threw-away-a-fortune-in-bitcoin-now-looking-to-dig-up-a-landfill/

 

But seriously (almost) I may not possess any bitcoin, but at least I can fall asleep at night.

Edited December 11, 2017 by John Gentleman

[Jeff]

invested about 400 dollars a wee while back and im now up to 850 dollars. pretty decent stuff

[Rudolf's Mate]

On 10/12/2017 at 12:47, Smithee said:

It's going to be a rough couple of weeks, very exciting. I kind of wish mine was on gdax or something so I could trade and stay ahead of the game but I keep reminding myself I want to let it ride and see what happens so I'm glad it's on a wallet on my phone. 

I have to admit to eyeing the whole crypto market with interest, with all the different currencies there's money to be made by being just slightly ahead of the game. If I was on gdax I'd probably have been tempted into trading 90% of my btc for litecoin on Wednesday and then buy back in after the expected price drop. 

 

Fascinating though

 

I was tempted to stick £50 into an account for the sole purpose of trading it back and forth for a bit of fun. However I read a thread on reddit from a boy that has done this and between Coinbase and another exchange has somehow ended up losing $196 due to fees. He doesn’t know how this has happened especially seeing as it’s come off of around a total of $900. 

[graygo]

33 minutes ago, Rudolf's Mate said:

 

I was tempted to stick £50 into an account for the sole purpose of trading it back and forth for a bit of fun. However I read a thread on reddit from a boy that has done this and between Coinbase and another exchange has somehow ended up losing $196 due to fees. He doesn’t know how this has happened especially seeing as it’s come off of around a total of $900. 

 

Coinbase charge a set fee of 3.99% for each transaction, they also have exchange rate charges and conversion rate charges which vary based on your location, payment method, and other circumstances.

 

Whatever the hell that means   

 

They do give you a total figure before you complete the transaction though so it shouldn't come as a surprise.

[Rudolf's Mate]

23 minutes ago, graygo said:

 

They do give you a total figure before you complete the transaction though so it shouldn't come as a surprise.

 

Exactly. Still, if he’s right that’s a bit of a dull one.

[Escobar PHM]

Okay. Im in. Bought $250 of Litecoin having done some research. Bought at $189. Expected to go past $300 by end of year.

 

[ƒιѕнρℓαρѕ]

1 minute ago, Escobar PHM said:

Okay. Im in. Bought $250 of Litecoin having done some research. Bought at $189. Expected to go past $300 by end of year.

 

Good call, that's where I'd be looking too I think

[Ray Gin]

Got me some Litecoin too.

Started to dip the second I bought in.

 

[heartsfc_fan]

Litecoin is going up up up

[HeartOfWestLothian]

Definitely holding my Litecoin for a year or two. 

 

When the supply halves in 2019 I am hoping the price rockets

[Dean Winchester]

Say goodbye to any Litecoin profits guys. I've just bought in

[Ray Gin]

Up around £200 in one week now through my crypto investments.

 

 

 

 

 

 

[Rudolf's Mate]

Litecoin up £112 this week alone ?

[Ray Gin]

Tempted to sell off some of my bitcoin and pump more into Litecoin. 

[jack D and coke]

I’m no expert but some of things I read predict Ethereum and Litecoin to be the ones for the future. It’s something due to the way they’re set up, don’t ask me why I get more confused the more I read about them all  

[ƒιѕнρℓαρѕ]

That's me a week in and my 100 is now 145.72. I feel confident in saying it's up about 45%, no bad at all!

 

I'm determined to let that money sit there, and probably worth remembering the exchanges are overwhelmed with people buying in - that's what prevented the expected drop IMO. Anyway, they're still overwhelmed and that means demand is still high.

 

But I want to feel like I'm ducking and diving so I think I'll seperately put a few quid into coinbase now and again and either let it sit til something crashes and I can pounce, or buy in sooner if the market looks like sustaining growth.

[HeartOfWestLothian]

54 minutes ago, Ray Gin said:

Tempted to sell off some of my bitcoin and pump more into Litecoin. 

 

Both will go up in value over the next year but I would say Litecoin will rise at a higher % than Bitcoin due to all the new money coming into the crypto market and the cheapness of a Litecoin compared to a Bitcoin. 

 

Currently Litecoin is worth 0.014 of a Bitcoin which doesn't make sense to me. 

[Dean Winchester]

12 minutes ago, HeartOfWestLothian said:

 

Both will go up in value over the next year but I would say Litecoin will rise at a higher % than Bitcoin due to all the new money coming into the crypto market and the cheapness of a Litecoin compared to a Bitcoin. 

 

Currently Litecoin is worth 0.014 of a Bitcoin which doesn't make sense to me. 

 

There are limits for both. The max number of Litecoin is around 4x that of Bitcoin so it will likely be cheaper for a long time unless it proves to be more useful than Bitcoin for those using it.