Bindy Badgy Posted December 26, 2017 Share Posted December 26, 2017 35 minutes ago, Rudolf's Mate said: That’s it being claimed there’s proof of insider trading at Coinbase in respect of Bitcoin Cash surge and ultimately Bitcoin drop. Someone posted that it was going to occur on Reddit prior to it actually happening. There's been accusations of that kind of stuff for years. It's one of the many reasons why I've stayed away. Feels like you have to be in the know to have any hope of making sensible decisions. Quote Link to comment Share on other sites More sharing options...
Rudolf's Mate Posted December 26, 2017 Share Posted December 26, 2017 56 minutes ago, Stokesy said: There's been accusations of that kind of stuff for years. It's one of the many reasons why I've stayed away. Feels like you have to be in the know to have any hope of making sensible decisions. Yeah it doesn't surprise me. I think what's made this much worse for people is that there's claims Coinbase prevented their customers from making transactions whilst this was going on. So they've manipulated the market, made a fortune from it and prevented their customers from either benefitting or limiting the impact. I've got a relatively small amount of Ethereum with them however I'll be moving it. Quote Link to comment Share on other sites More sharing options...
Shanks Posted December 26, 2017 Share Posted December 26, 2017 I'd get involved in this kind of thing in small amount, just don't go sticking your life savings into it! If anyone hasn't read up on Mt. Gox I'd suggest having a look. Quote Link to comment Share on other sites More sharing options...
Shanks Posted December 26, 2017 Share Posted December 26, 2017 12 minutes ago, Rudolf's Mate said: Yeah it doesn't surprise me. I think what's made this much worse for people is that there's claims Coinbase prevented their customers from making transactions whilst this was going on. So they've manipulated the market, made a fortune from it and prevented their customers from either benefitting or limiting the impact. I've got a relatively small amount of Ethereum with them however I'll be moving it. Yea the reviews on coinbase aren't exactly glowing. https://uk.trustpilot.com/review/coinbase.com Be interested to see if you have issues moving away from them. Quote Link to comment Share on other sites More sharing options...
HeartOfWestLothian Posted December 26, 2017 Share Posted December 26, 2017 2 hours ago, Rudolf's Mate said: Yeah it doesn't surprise me. I think what's made this much worse for people is that there's claims Coinbase prevented their customers from making transactions whilst this was going on. So they've manipulated the market, made a fortune from it and prevented their customers from either benefitting or limiting the impact. I've got a relatively small amount of Ethereum with them however I'll be moving it. Before moving your Ethereum, move it to GDAX which is free and then onto a wallet and GDAX pay the transaction fee. Quote Link to comment Share on other sites More sharing options...
Dusk_Till_Dawn Posted December 26, 2017 Share Posted December 26, 2017 All this seems to be unregulated so no wonder if people are playing the system Quote Link to comment Share on other sites More sharing options...
redjambo Posted December 26, 2017 Share Posted December 26, 2017 10 minutes ago, Dusk_Till_Dawn said: All this seems to be unregulated so no wonder if people are playing the system At some point, I surmise that it will become quite heavily regulated. Governments exert a measure of control through their management of the flow of capital, and won't be wanting to cede control of that if virtual currencies become too large. How they do it is, however, a different question. Quote Link to comment Share on other sites More sharing options...
Unknown user Posted December 26, 2017 Author Share Posted December 26, 2017 13 minutes ago, redjambo said: At some point, I surmise that it will become quite heavily regulated. Governments exert a measure of control through their management of the flow of capital, and won't be wanting to cede control of that if virtual currencies become too large. How they do it is, however, a different question. It's a huge question isn't it? The ICO I went with hope to open a bank in Vanuatu alongside a cryptocurrency exchange. Who's got the right to regulate a legitimate bank in Vanuatu or it's cryptocurrency which is traded in international waters so to speak? Interesting times. Quote Link to comment Share on other sites More sharing options...
Rudolf's Mate Posted December 26, 2017 Share Posted December 26, 2017 7 hours ago, Longshanks said: Yea the reviews on coinbase aren't exactly glowing. https://uk.trustpilot.com/review/coinbase.com Be interested to see if you have issues moving away from them. Yea, when I get round to it lol. There’s people saying they’ve been trying since end of Nov without success. Quite a few around 12th Dec going nuts with all saying they’ve had zero response. 4 hours ago, HeartOfWestLothian said: Before moving your Ethereum, move it to GDAX which is free and then onto a wallet and GDAX pay the transaction fee. That’s interesting ?? Quote Link to comment Share on other sites More sharing options...
HeartOfWestLothian Posted December 26, 2017 Share Posted December 26, 2017 (edited) If anyone is looking to use Binance for exchanges feel free to use my referral code: 16633930 https://www.binance.com/?ref=16633930 Edited December 26, 2017 by HeartOfWestLothian Quote Link to comment Share on other sites More sharing options...
Unknown user Posted December 26, 2017 Author Share Posted December 26, 2017 1 minute ago, HeartOfWestLothian said: If anyone is looking to use Binance for exchanges feel free to use my referral code: 16633930 https://www.binance.com/?ref=16633930 I kind of thought we'd be keeping away from that type of thing or I'd be giving out my TokenPay referral code for free moolah By the way, for those who want out of coinbase, sending litecoin to binance costs next to nothing compared to Bitcoin, it works out much cheaper to exchange it first Quote Link to comment Share on other sites More sharing options...
Toggie88 Posted December 26, 2017 Share Posted December 26, 2017 What's everyone thinking alt-coin wise then? Ripple my favourite, looking to dabble into a few more. Quote Link to comment Share on other sites More sharing options...
Heres Rixxy Posted December 26, 2017 Share Posted December 26, 2017 4 hours ago, Smithee said: I kind of thought we'd be keeping away from that type of thing or I'd be giving out my TokenPay referral code for free moolah By the way, for those who want out of coinbase, sending litecoin to binance costs next to nothing compared to Bitcoin, it works out much cheaper to exchange it first How do you get fiat currency back from any sales from Binance? Need to move coins to another exchange? Quote Link to comment Share on other sites More sharing options...
Jeff Posted December 26, 2017 Share Posted December 26, 2017 What wallets does everyone use? Looking to buy some NEO and XRP but my current wallet doesnt support them Quote Link to comment Share on other sites More sharing options...
Unknown user Posted December 26, 2017 Author Share Posted December 26, 2017 25 minutes ago, Heres Rixxy said: How do you get fiat currency back from any sales from Binance? Need to move coins to another exchange? Yeah exactly. Litecoin seems like a cheap option but my overall picture of fees is still fuzzy 10 minutes ago, Jeff said: What wallets does everyone use? Looking to buy some NEO and XRP but my current wallet doesnt support them Both are available on exchanges like binance, but I think wallets tend not to cover different currencies. I've got some btc in an offline wallet but apart from that I think keeping it online in an exchange wallet is most convenient Quote Link to comment Share on other sites More sharing options...
Rudolf's Mate Posted December 27, 2017 Share Posted December 27, 2017 8 hours ago, Heres Rixxy said: How do you get fiat currency back from any sales from Binance? Need to move coins to another exchange? Yep got to move it to one that will allow you to exchange it into dollars, euros or whatever. So basically if it Binance or similar you need to send it somewhere like Coinbase, change it into one of the 4 that they deal with and then change it to your desired currency. Fees, fees, fees, fees 8 hours ago, Jeff said: What wallets does everyone use? Looking to buy some NEO and XRP but my current wallet doesnt support them Got a couple that came with different exchanges however I also had to get a standalone one that accepted ERC20 tokens when I did my ICO. I read up extensively on them however I have to say some of the horror stories nearly put me right off as they amount of people that have lost money using them. I went for myetherwallet in the end however I was that paranoid after reading everything that I setup a new web browser, set it all up using my VPN and kept the details on a USB rather than my PC. You hear about exchanges being hit as well but I personally would feel more secure with one of their wallets. If someone's investing a few quid then I'd consider getting a hardware version. Supposedly these are more secure however I think the cheapest one is around £40. Quote Link to comment Share on other sites More sharing options...
Dean Winchester Posted December 27, 2017 Share Posted December 27, 2017 10 hours ago, Toggie88 said: What's everyone thinking alt-coin wise then? Ripple my favourite, looking to dabble into a few more. I've invested in Ripple on etoro after jumping from Litecoin. Worked out nicely for me and I'm up $220 from a $200 investment. Probably ride it out until $1.5-$2. Also got 100 or so that I bought months ago for about $0.17. Going to keep them for a few years. Not sure how high it can go with there being so many coins but it's in my favour already and if I can get a couple of hundred quid back from £20 then that'll do me nicely Quote Link to comment Share on other sites More sharing options...
Unknown user Posted December 27, 2017 Author Share Posted December 27, 2017 I signed up to a crypto news service, they're warning a big pump and dump may be coming on bitcoin and to be careful that another dive may be in the post after a bit of growth. Again, clueless welt talking here though. Quote Link to comment Share on other sites More sharing options...
Jeff Posted December 27, 2017 Share Posted December 27, 2017 36 minutes ago, Smithee said: I signed up to a crypto news service, they're warning a big pump and dump may be coming on bitcoin and to be careful that another dive may be in the post after a bit of growth. Again, clueless welt talking here though. Meanwhile some papers this morning are saying experts say it'll hit 100k by the end of the year Quote Link to comment Share on other sites More sharing options...
Unknown user Posted December 27, 2017 Author Share Posted December 27, 2017 1 minute ago, Jeff said: Meanwhile some papers this morning are saying experts say it'll hit 100k by the end of the year By Sunday?? Bloody hell Quote Link to comment Share on other sites More sharing options...
Jeff Posted December 27, 2017 Share Posted December 27, 2017 12 minutes ago, Smithee said: By Sunday?? Bloody hell CURRY STAND AT 7PM TONIGHT! 2018 of course Quote Link to comment Share on other sites More sharing options...
Nixie Posted December 27, 2017 Share Posted December 27, 2017 As predicted, fill your boots with Ethereum >>>>> https://www.express.co.uk/finance/city/894542/Ethereum-Bitcoin-latest-cryptocurrency-cash-price-chart-coin-bubble-crash Quote Link to comment Share on other sites More sharing options...
Unknown user Posted December 27, 2017 Author Share Posted December 27, 2017 14 minutes ago, Jeff said: CURRY STAND AT 7PM TONIGHT! 2018 of course Ah ok fair enough. I doubt it, bitcoin just doesn't work as a currency or commodity because of the fees. This year will see bitcoin plummet as this becomes more apparent, being replaced as front runner by a.n. other. IMO of course Quote Link to comment Share on other sites More sharing options...
Rudolf's Mate Posted December 27, 2017 Share Posted December 27, 2017 26 minutes ago, Nixie said: As predicted, fill your boots with Ethereum >>>>> https://www.express.co.uk/finance/city/894542/Ethereum-Bitcoin-latest-cryptocurrency-cash-price-chart-coin-bubble-crash That article is littered with inaccuracies. Its not at an ‘all time high’ as claimed and the article even says it’ll be the next Bitcoin then goes onto saying ‘could’. Quote Link to comment Share on other sites More sharing options...
HeartOfWestLothian Posted December 27, 2017 Share Posted December 27, 2017 6 hours ago, Nixie said: As predicted, fill your boots with Ethereum >>>>> https://www.express.co.uk/finance/city/894542/Ethereum-Bitcoin-latest-cryptocurrency-cash-price-chart-coin-bubble-crash https://twitter.com/VitalikButerin/status/945988644661207040 Quote Link to comment Share on other sites More sharing options...
Watt-Zeefuik Posted December 27, 2017 Share Posted December 27, 2017 On 12/24/2017 at 11:12, Smithee said: The problem is inherent in the system - the challenge for all of them is having motivation for users to process transactions. Bitcoin miners process the transactions and are rewarded from the fees and new coins but the cost of mining is huge. Some other coins use a system where new coins are introduced as interest instead of mining, but your wallet has to be online helping to process transactions to get it. This leads to much cheaper and quicker transactions than is possible with bitcoin, with people also being motivated to hold currency which adds value. There's also the tremendous amount of energy being spent on bitcoin mining just now. Apparently that goes up if the price goes up (https://arstechnica.com/tech-policy/2017/12/bitcoins-insane-energy-consumption-explained/). Given that it's still relatively tiny amounts of money going back and forth on bitcoin now, while there's ways to adjust cryptocurrency to use less, the chance that it becomes useful as a global currency for something other than the black market seems small. Quote Link to comment Share on other sites More sharing options...
HeartOfWestLothian Posted December 27, 2017 Share Posted December 27, 2017 An interesting read on NEO for anyone who might be interested: https://hackernoon.com/neo-versus-ethereum-why-neo-might-be-2018s-strongest-cryptocurrency-79956138bea3 Quote Link to comment Share on other sites More sharing options...
redjambo Posted December 28, 2017 Share Posted December 28, 2017 1 hour ago, Lord BJ said: As a matter of interest what’s the tax situation around crypto currencies? i assume it is liable to capital gains, when you cash out? http://cryptotax.uk/ Quote Link to comment Share on other sites More sharing options...
Unknown user Posted December 28, 2017 Author Share Posted December 28, 2017 The ICO (initial coin offering for anyone looking in) I went with has sold out of coins after only 3 weeks of a planned 6 week initial offering - a positive start. However, I went to their group chat to see what was happening and found nothing but Americans moaning about refunds as they've apparently been banned from subscribing by their government. I don't know if this is only for ICOs, or maybe just this particular ICO, but that's got to hurt the chances of a new coin - or will it just increase demand AFTER the ICO? Quote Link to comment Share on other sites More sharing options...
Rudolf's Mate Posted December 28, 2017 Share Posted December 28, 2017 3 hours ago, Smithee said: The ICO (initial coin offering for anyone looking in) I went with has sold out of coins after only 3 weeks of a planned 6 week initial offering - a positive start. However, I went to their group chat to see what was happening and found nothing but Americans moaning about refunds as they've apparently been banned from subscribing by their government. I don't know if this is only for ICOs, or maybe just this particular ICO, but that's got to hurt the chances of a new coin - or will it just increase demand AFTER the ICO? If it’s been banned by US then it’ll have been due to fraudulent activity. South Korea and other countries have banned them outright however the US doesn’t want to take that step and is going down the route of heavily regulating them. Obviously this is only what I’ve read on various sites however loads of places talking about South Korean trying to reign in Bitcoin by taking action. A couple of things I found with my ICO was after going live on the exchange people could have sold and slightly more than doubled their investment. Only issue was everyone was selling and there were hardly any buyers ? Also launching at one exchange seriously limits the chances of flipping it quickly. Not an issue for me however it was clear many had this idea which didn’t pan out lol. Mine is now just 20c per token above what I paid. Not a surprise as the amount of people selling is unreal however before buying the idea was always to hold for 4-5yr (or longer) unless something warranted me selling. Quote Link to comment Share on other sites More sharing options...
Unknown user Posted December 28, 2017 Author Share Posted December 28, 2017 2 hours ago, Rudolf's Mate said: If it’s been banned by US then it’ll have been due to fraudulent activity. South Korea and other countries have banned them outright however the US doesn’t want to take that step and is going down the route of heavily regulating them. Obviously this is only what I’ve read on various sites however loads of places talking about South Korean trying to reign in Bitcoin by taking action. A couple of things I found with my ICO was after going live on the exchange people could have sold and slightly more than doubled their investment. Only issue was everyone was selling and there were hardly any buyers ? Also launching at one exchange seriously limits the chances of flipping it quickly. Not an issue for me however it was clear many had this idea which didn’t pan out lol. Mine is now just 20c per token above what I paid. Not a surprise as the amount of people selling is unreal however before buying the idea was always to hold for 4-5yr (or longer) unless something warranted me selling. I've read more, nothing do with fraudulent activity. In fact, they've taken the decision to cut US customers out themselves to be on the safe side. In short, the SEC in america has a problem with unregulated securities, not cryptocurrencies as such. Tokenpay's ICO was more about getting 100,000 users for their planned exchange and bank with the cryptocurrency more or less being a by product of that. The 2500 btc they planned to raise were only worth 5 million when the white paper was written, there's apparently much bigger money behind the project. But details, details - as with the whole thing I'm happy to be on board for the adventure. It's extremely unlikely I'd ever have the self discipline to leave my money in there long enough for any truly big gains anyway Quote Link to comment Share on other sites More sharing options...
Rudolf's Mate Posted December 29, 2017 Share Posted December 29, 2017 (edited) 8 hours ago, Smithee said: I've read more, nothing do with fraudulent activity. In fact, they've taken the decision to cut US customers out themselves to be on the safe side. In short, the SEC in america has a problem with unregulated securities, not cryptocurrencies as such. Tokenpay's ICO was more about getting 100,000 users for their planned exchange and bank with the cryptocurrency more or less being a by product of that. The 2500 btc they planned to raise were only worth 5 million when the white paper was written, there's apparently much bigger money behind the project. But details, details - as with the whole thing I'm happy to be on board for the adventure. It's extremely unlikely I'd ever have the self discipline to leave my money in there long enough for any truly big gains anyway On a slightly different tangent however linked, this is one of the few clips I’ve actually watched to the end. Pretty interesting stuff however my only possible disagreement with their comments is that a lot of people getting involved either don’t care or think about this. Edited December 29, 2017 by Rudolf's Mate Quote Link to comment Share on other sites More sharing options...
Rudolf's Mate Posted December 29, 2017 Share Posted December 29, 2017 On 26/12/2017 at 10:06, Longshanks said: Yea the reviews on coinbase aren't exactly glowing. https://uk.trustpilot.com/review/coinbase.com Be interested to see if you have issues moving away from them. Took 20 mins to complete the move from Coinbase to Binance late last night and only cost me 22p. Was actually pretty impressed with how easy the whole process was. Quote Link to comment Share on other sites More sharing options...
Dean Winchester Posted December 29, 2017 Share Posted December 29, 2017 I am now at 100% profit from the Ripple position I opened on the 22nd of December Quote Link to comment Share on other sites More sharing options...
Jeff Posted December 29, 2017 Share Posted December 29, 2017 3 minutes ago, Dean Winchester said: I am now at 100% profit from the Ripple position I opened on the 22nd of December Made £20 on it last night alone. Pray it ends up pricing like Ethereum haha Quote Link to comment Share on other sites More sharing options...
Jeff Posted December 29, 2017 Share Posted December 29, 2017 32 minutes ago, Rudolf's Mate said: Took 20 mins to complete the move from Coinbase to Binance late last night and only cost me 22p. Was actually pretty impressed with how easy the whole process was. Don't think transferring is the issue, it's cashing out Quote Link to comment Share on other sites More sharing options...
Rudolf's Mate Posted December 29, 2017 Share Posted December 29, 2017 Just now, Jeff said: Don't think transferring is the issue, it's cashing out There’s been issues with both however I’m not sure if it was specific to Bitcoin. Quote Link to comment Share on other sites More sharing options...
Dean Winchester Posted December 29, 2017 Share Posted December 29, 2017 4 minutes ago, Jeff said: Made £20 on it last night alone. Pray it ends up pricing like Ethereum haha I think the number of coins means it's unlikely to go that way but I'd be extremely happy if it got between $5-$10. It will be interesting to see how the price is affected if/when it is released on Coinbase like it is rumored to be. Quote Link to comment Share on other sites More sharing options...
Jeff Posted December 29, 2017 Share Posted December 29, 2017 6 minutes ago, Dean Winchester said: I think the number of coins means it's unlikely to go that way but I'd be extremely happy if it got between $5-$10. It will be interesting to see how the price is affected if/when it is released on Coinbase like it is rumored to be. That's always something I wondered about. What dictates how many coins there are? Quote Link to comment Share on other sites More sharing options...
Dean Winchester Posted December 29, 2017 Share Posted December 29, 2017 3 minutes ago, Jeff said: That's always something I wondered about. What dictates how many coins there are? I think it is set out by the developers. Bitcoin there will only ever be 21 million with about 17 million having already been mined. Ripple on the other hand has a limit of 100 billion. It could still become extremely valuable though depending on the uptake as the transaction times and costs for Ripple are a fraction of Bitcoin. If banks or credit card companies started to take it up seriously then the price would definitely shoot up. Quote Link to comment Share on other sites More sharing options...
Rudolf's Mate Posted December 29, 2017 Share Posted December 29, 2017 11 minutes ago, Jeff said: That's always something I wondered about. What dictates how many coins there are? At a guess maybe only their white paper stating it. Might be different from ICO’s/tokens however I read the worry about those was there was essentially nothing from stopping said companies doubling the token and effectively diluting your investment. Not going to lie I just don’t know. Quote Link to comment Share on other sites More sharing options...
Unknown user Posted December 29, 2017 Author Share Posted December 29, 2017 26 minutes ago, Jeff said: That's always something I wondered about. What dictates how many coins there are? It's set out at the start, for example the ico I went with has a hard limit of 25 million, 6.25 million of which is held back as interest to be paid on circulating coins. Quote Link to comment Share on other sites More sharing options...
Jeff Posted December 29, 2017 Share Posted December 29, 2017 Ripple up 29% in 24 hours Quote Link to comment Share on other sites More sharing options...
Jeff Posted December 29, 2017 Share Posted December 29, 2017 Gonna invest in some NEO today. Took a big tumble the last week or so Quote Link to comment Share on other sites More sharing options...
Unknown user Posted December 29, 2017 Author Share Posted December 29, 2017 1 minute ago, Jeff said: Gonna invest in some NEO today. Took a big tumble the last week or so Yeah I'm in NEO, there's a lot of chat about Asian backing and I think it's the one most likely to be due an upward surge. I'm trying to be patient, I got out of both litecoin and ripple just before they went daft and I don't want to miss the boat again Quote Link to comment Share on other sites More sharing options...
Jeff Posted December 29, 2017 Share Posted December 29, 2017 1 minute ago, Smithee said: Yeah I'm in NEO, there's a lot of chat about Asian backing and I think it's the one most likely to be due an upward surge. I'm trying to be patient, I got out of both litecoin and ripple just before they went daft and I don't want to miss the boat again All about patience. Heard so many horror stories about premature bitcoin sellers Quote Link to comment Share on other sites More sharing options...
Unknown user Posted December 29, 2017 Author Share Posted December 29, 2017 (edited) 6 minutes ago, Jeff said: All about patience. Heard so many horror stories about premature bitcoin sellers Not really my strong suit is patience, but I really didn't like missing those trains. Hopefully the experience will keep me disciplined enough to see it through Edited December 29, 2017 by Smithee Quote Link to comment Share on other sites More sharing options...
Jeff Posted December 29, 2017 Share Posted December 29, 2017 2 hours ago, Dean Winchester said: I am now at 100% profit from the Ripple position I opened on the 22nd of December Closing in on 150% now? Up 38% now in 24 hours. Surreal. Can't find any news story which explains the sudden rush to buy either Quote Link to comment Share on other sites More sharing options...
Dean Winchester Posted December 29, 2017 Share Posted December 29, 2017 Just now, Jeff said: Closing in on 150% now? Up 38% now in 24 hours. Surreal. Can't find any news story which explains the sudden rush to buy either Not quite. 120% currently. I bought on etoro so the average sell price is a bit lower than some of the other exchanges. Bought at 0.76 and sell price is 1.61 just now. It has just taken over Ether on coinmarketcap as well which might push it up a bit more. Got to feel there is some piece of news in the background that has people jumping on to this. Quote Link to comment Share on other sites More sharing options...
Unknown user Posted December 29, 2017 Author Share Posted December 29, 2017 5 minutes ago, Jeff said: Closing in on 150% now? Up 38% now in 24 hours. Surreal. Can't find any news story which explains the sudden rush to buy either I read that Ripple's biggest market is Japan, it could be as simple as a boom in awareness due to a mention on a TV show or something Quote Link to comment Share on other sites More sharing options...
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