# Buying Bitcoins



## rb250660 (8 April 2017)

How can I easily and safely buy bitcoins to make an online purchase? Such a hassle that the place I want to deal with is bitcoin only.

Cheers


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## greggles (9 April 2017)

The Bitcoin website lists Bitcoin Exchanges: https://www.bitcoin.com/buy-bitcoin

No idea how safe or reliable any of the exchanges are.


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## roadto1mil (11 April 2017)

use coinjar. i use them. totally easy and safe. you even get an eftpos card


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## DB008 (24 May 2017)

Are we in a bubble?

The price is going bananas. Up over $3500 for 1 bitcoin. Crazy.

All the other Alt-Coins are also going nuts.

Alot of brokers who sell bitcoin advocate storing your coins in a digital wallet. So, once purchased, move them offline and into a secure wallet (like an app on your mobile). This is so that if the broking house is hacked (as has happened lots of times), your coins are safe.

I use Jaxx, but l'm sure there are tons of wallets out there.


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## fiftyeight (24 May 2017)

I have 2 separate people who do not know each other posting on FB everyday how much money they are making and how easy it is. Neither of them are tech savy or generally "invest". Seems like everyone is getting on the bandwagon


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## kid hustlr (24 May 2017)

Yeah this has to end really badly doesn't it.

Couple of guys were talking about these when it was like $10 with the theory being everyone should have like 1% of their portfolio in something like this.

Wish I'd listened to them.

don't see how you can buy it now, would be nice if there was expert around to explain the theory behind holding them


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## ThingyMajiggy (24 May 2017)

Same theory to holding anything, hoping for a return some day. 

A lot of VPN providers allow(or sometimes force) payment in bitcoin which could be helping it's climb with how much VPN's are gaining in popularity with net neutrality, Government spying becoming common etc. 

Also things like these ransomware attacks that have been spreading might also be a factor in it's explosion as they often want payment in bitcoin because of it's anonymity, not that anyone should ever pay the ransom on a ransomware attack, but I'm sure some are. 

There's also the benefit of decentralized, encrypted anonymity which is the main reason why people actually use it to buy/sell things as opposed to just investing in it. 

But mostly it's probably just in hyper mode now, as word is getting around and everyone wants in. 

Take your pick, all these cryptocurrencies have been going nuts lately.


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## CanOz (24 May 2017)

Does anyone know how to trade the spread between etherum and bitcoin?


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## ThingyMajiggy (24 May 2017)

CanOz said:


> Does anyone know how to trade the spread between etherum and bitcoin?




Looks like you can through these guys, check out the demo link on the main page and you can hover over the BTC up in the top left and can select the ETH/BTC market, so appears to be tradeable, who knows what it's like to set up an account with them though, just Googled and found them then so don't know anything about them.


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## DB008 (24 May 2017)

kid hustlr said:


> don't see how you can buy it now, would be nice if there was expert around to explain the theory behind holding them




What l'm hearing is - Ethereum is the next bitcoin. It's like Bitcoin 2.0. More anonymous and can do smart transactions. Monero is also in the same ballpark (wish l had purchased Monero way back...)

https://www.ethereum.org/

Microsoft, JP Morgan, Chase and Intel are also into Ether (some sort of alliance).

Whatever goes up, must come down.


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## moXJO (24 May 2017)

I bought a few hundred thousand ripples when they were worth nothing. Thought I  would put them in the bottom virtual draw just like all the bitcoiners did. 
This thread reminded me I had them. 

Too bad I can't remember where I wrote the secret  passkey


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## Quant (24 May 2017)

CanOz said:


> Does anyone know how to trade the spread between etherum and bitcoin?



Well I just made a spread chart of sorts but clueless on the right coefficient or any strat to trade it , something I will avoid tbh . Has zero appeal to me , looks ultra dangerous in my eyes . How do you manage risk ?? I am blind


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## CanOz (24 May 2017)

It's now the hottest mean reverter on the planet quant, right up your alley I thought.


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## Quant (24 May 2017)

CanOz said:


> It's now the hottest mean reverter on the planet quant, right up your alley I thought.



All yours  , can only imagine the liquidity , slippage , fills etc that can go wrong  . My alley isn't **** like that . Looks as appealing as collecting litter from Monaco casino tunnel in middle of  F1 GP


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## Kryzz (24 May 2017)

CanOz said:


> Does anyone know how to trade the spread between etherum and bitcoin?




Plenty of liquidity on Poloniex also.

Indpendent reserve offer AUD/ETH


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## CanOz (24 May 2017)

A mate of mine peaked my curiosity in it, at the moment no more than that....he's a big long view term structure trader. Must be something in it if he's looking at it.


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## DB008 (30 May 2017)

Watch the last 20 seconds.

http://mobile.abc.net.au/news/2017-...nking,-mining-stocks-sold/8570494?pfmredir=sm


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## ThingyMajiggy (30 May 2017)

Yeah bitcoin isn't the one to be in, Ethereum and Litecoin are, or choose any from the list I posted previously!


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## skyQuake (31 May 2017)

roadto1mil said:


> use coinjar. i use them. totally easy and safe. you even get an eftpos card




Coinjar has inauspicious roots
https://www.reddit.com/r/Bitcoin/comments/2xfag9/psa_zhou_tong_created_coinjar_the_service_behind/
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Anyone looked at why there's such a large price difference between exchanges? Its high volatility but not MtGox-ish days of people being unable to withdraw causing the diff


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## Glen48 (26 June 2017)

ThingyMajiggy said:


> Yeah bitcoin isn't the one to be in, Ethereum and Litecoin are, or choose any from the list I posted previously!



I got some Lite on Coinbase...now find out I can't sell in Australia,,They told me to try Coinjar so send of an E mail and waiting for a reply,,wondering how a company in Australia is allowed to sell but not buy???


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## ThingyMajiggy (26 June 2017)

Glen48 said:


> I got some Lite on Coinbase...now find out I can't sell in Australia,,They told me to try Coinjar so send of an E mail and waiting for a reply,,wondering how a company in Australia is allowed to sell but not buy???




You'll probably have to convert it back to BTC then to AUD.


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## Glen48 (26 June 2017)

More info please,,Coinjar do not deal with Coinbase,,and waiting for some info from GDAX,,


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## ThingyMajiggy (26 June 2017)

Glen48 said:


> More info please,,Coinjar do not deal with Coinbase,,and waiting for some info from GDAX,,




You have a Coinjar Bitcoin address yes? Go over to shapeshift.io, swap it for bitcoin, so you send your lite to the shapeshift address it'll give you, then the btc address where you want to receive the btc.

...or just use coinspot as they deal in lots of coins and AUD based. But probably easier to do it the way I showed above rather than going through all the verification process etc.


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## Glen48 (26 June 2017)

Not easy trying to sort out address???


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## ThingyMajiggy (26 June 2017)

Which gives you this: 




Then you go here:




And put the address in here along with your Litecoin address from Coinbase(in case the transaction fails, it gives it back):




Then send your Litecoin to this address that it gives you, and it will convert it and give you whatever you're swapping to in whatever account/address you nominated in beginning:




Got it now?


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## DB008 (26 June 2017)

Ethereum is crashing hard right now.

Alot of people are saying that Bitcoin will hardfork on 1st August, so wait until then if you are going to trade/buy/sell.

Bitcoin with Segway.


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## DB008 (26 June 2017)

Glen, l use BTC Markets. Very easy.


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## DB008 (30 June 2017)

Interesting...

​


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## Glen48 (30 June 2017)

DB008 said:


> Glen, l use BTC Markets. Very easy.



Not if they tell you your phone number and email address are wrong..


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## DB008 (1 July 2017)

Bitcoin SegWit coming 1st August. Hard/Soft Bitcoin fork.

Could be an opportunity to buy on a dip.

_https://www.cryptocoinsnews.com/how-investors-can-avoid-an-impending-bitcoin-blood-bath/_​


SegWit explained​_
Segregated Witness, often abbreviated to SegWit, is a proposed update to the Bitcoin software, designed to fix a range of serious issues._​_
SegWit increases the Bitcoin’s block size limit and allows the implementation of the second-layer solutions for further improvement._

_https://cointelegraph.com/explained/segwit-explained_​


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## Glen48 (7 July 2017)

Turns out *Coinbase *is up there with Madoff and under investigation,,BTCMarkets seem good at this stage but not try to withdraw any funds...


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## DB008 (11 July 2017)

*ANZ and Westpac just successfully used blockchain on commercial property deals*


 https://www.businessinsider.com.au/anz-and-westpac-just-successfully-used-blockchain-on-commercial-property-deals-2017-7​


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## DB008 (6 August 2017)

Bitcoin over $4100 AUD

The fork happened, Bitcoin (BTC) and Bitcoin Cash (BCC). BCC is dead in the water now. I think there is another fork coming in the coming months. Interesting times we live in.

Some people are predicting BTC to hit $50,000 in a few years time.


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## DB008 (9 August 2017)

*Putin's Aide Seeks $100 Million to Rival China in Bitcoin Mining*
​A company co-owned by one of President Vladimir Putin’s internet advisers plans to raise the cryptocurrency equivalent of as much as $100 million in a push to help Russian entrepreneurs challenge China in bitcoin mining.

Russian Miner Coin is holding a so-called initial coin offering, where investors will use units of ethereum or bitcoin to buy new RMC tokens. These new tokens will have rights to 18 percent of the revenue earned with the company’s mining equipment, according to a presentation posted on its website.

RMC plans to use semiconductor chips designed in Russia for use in satellites to minimize power consumption in computers for crypto-mining, Putin’s internet ombudsman, Dmitry Marinichev, said at at a news conference in Moscow. 


*https://www.bloomberg.com/news/articles/2017-08-08/putin-s-aide-seeks-100-million-to-rival-china-in-bitcoin-mining*​


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## mcgrath111 (10 August 2017)

I have a bitcoin or two, but I think I'll cash out for the time being.

It seems like one big speccy bubble. 

It could very well go to $50k, it seems to be driven by mania.


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## overhang (10 August 2017)

DB008 have you looked into antshares?


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## Stoked (10 August 2017)

any feedback on the Aug 1 bitcoin news?


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## Glen48 (10 August 2017)

https://www.cryptocoinsnews.com/heres-how-the-bitcoin-price-reaches-100000-by-2021/ so why buy a house spend 40 and retire in 4 yrs..???


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## rb250660 (15 September 2017)

Crash.....


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## DB008 (15 September 2017)

overhang said:


> DB008 have you looked into antshares?




Yes. I do own. They went from Antshares to Neo, ~$5 up to $70, now trading around $22.

Part of the whole China FUD at the moment. All cryptocurrency's are getting smashed ATM. Hard. I think there are some very nice opportunities coming up shortly.


*China Moves Towards Tougher Bitcoin Regulation,*
*But Not to Outright Ban: Jihan Wu*​The government of China is advancing its campaign against the digital currency sector as of mid-September 2017.

The government started its move by announcing a ban on all initial coin offerings (ICO) in early September.

There are also rumors about the possible shutdown of all local Bitcoin exchange platforms in the country.

https://cointelegraph.com/news/chin...n-regulation-but-not-to-outright-ban-jihan-wu​


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## Glen48 (22 October 2017)

rb250660 said:


> How can I easily and safely buy bitcoins to make an online purchase? Such a hassle that the place I want to deal with is bitcoin only.
> 
> Cheers



BTC markets are good,


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## Glen48 (22 October 2017)

rb250660 said:


> How can I easily and safely buy bitcoins to make an online purchase? Such a hassle that the place I want to deal with is bitcoin only.
> 
> Cheers



BTC Markets are good,


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## Glen48 (22 October 2017)

CanOz said:


> Does anyone know how to trade the spread between etherum and bitcoin?



Join BTCMarkets able to do that on there site


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## Bill M (23 October 2017)

greggles said:


> The Bitcoin website lists Bitcoin Exchanges: https://www.bitcoin.com/buy-bitcoin
> 
> No idea how safe or reliable any of the exchanges are.



I bought some bitcoin with this company and the fees are quite large. I put in $1,000 and they took $50 in fees and by the time it was all in my bitcoin account there was only $930. Pretty hefty fees.


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## qldfrog (24 October 2017)

A copy of a post I made in crypto thread, no answer yet and I 'd really like a recent input...
In a moving world:
planning to add bitcoins to my existing small crypto portfolio, i use BTC market to buy (and one day sell) but store my ETHs on a ‘paper wallet’ using MyEtherWallet.com.
What do you use to *store *your bitcoins once purchased; i have limited trust in any trading site (BTC Market or others ) to keep/store my assets safely?
Many thanks


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## DB008 (24 October 2017)

qldfrog - A hardware wallet would be a good starting point.

There are 2 that are market leaders...

Trezor 
https://trezor.io/

Ledger
https://www.ledgerwallet.com/


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## qldfrog (25 October 2017)

DB008 said:


> qldfrog - A hardware wallet would be a good starting point.
> 
> There are 2 that are market leaders...
> 
> ...



Thanks, I will look at these


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## Wysiwyg (3 November 2017)

Bitcoin hits a.t.h. USD 7434. Incredibly sharp run up. USD 10000 potential?

Disregard that a.t.h. Still got legs in the run at present.


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## basilio (8 November 2017)

Why does this sound like a monstrous bubble ? I suppose the clever part is that there are only a finite number of bitcoins in existence. 
Why would one actually use a bitcoin to buy something if keeping the coin meant it would double in value in a year  (or less.) ? It seems to be going from a medium of exchange into a strictly limited collectable whose value is increasing because more and more people are wanting in.


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## Joe Blow (8 November 2017)

I've decided to start moving all cryptocurrency threads to the forex forum as digital currencies are still currencies and serve a similar purpose.

Please start any future threads on cryptocurrencies in this forum. Thanks!


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## Indoril (8 November 2017)

basilio said:


> Why does this sound like a monstrous bubble ? I suppose the clever part is that there are only a finite number of bitcoins in existence.
> Why would one actually use a bitcoin to buy something if keeping the coin meant it would double in value in a year  (or less.) ? It seems to be going from a medium of exchange into a strictly limited collectable whose value is increasing because more and more people are wanting in.



Exactly why I haven't bought it. I'm sure there is money to be made but I just don't get it and it scares me.


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## neowebwallet (20 November 2017)

You can buy bitcoins from either exchanges, or directly from other people via marketplaces. You can pay for  in a variety of ways, ranging from hard cash to credit and debit cards to wire transfers, or even with other cryptocurrencies, depending on who you are buying them from and where you live.


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## DB008 (21 December 2017)

This is HUGE!!!

Message from Coinspot

*Please note: We have temporarily disabled new AUD deposits. Withdrawals and buy/sell are not affected and will operate as normal.

The temporary restriction on AUD deposits will remain in effect until at least the first week of the new year. AUD Withdrawals, coin deposits, buy/sell orders and trading on the platform will continue to operate as normal. 

We assure you we are just as unhappy with the situation as you, but unfortunately Australian banks have been so far unwilling to work with the digital currency industry which leads to frequent account closures and strict limits on accounts whilst they remain operational, in effect debanking our industry. 

As the demand for Bitcoin and other crypto assets skyrockets it is in everyone’s best interest to ensure we have regulated, safe and stable digital currency service providers instead of pushing Australian consumers underground, to potentially unsafe vendors. It is our purpose to drive safe adoption of crypto assets and we assure you that we will continue to work on establishing a relationship with a banking partner so we can resume accepting AUD deposits as soon as possible. 

Thank you to everyone for their overwhelming support during this time and we are really excited for what looks to be a massive year ahead for our industry.*​

Talk about the banks running scared. They are trying to shut down Coinspot. Talk about caught off guard. I said that the finance industry will be shaken up and changed in the next 5-10 years. It is happening right now.

Heap of work arounds.

Just use a broker overseas.


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## tech/a (21 December 2017)

Ripple up 20% today


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## tech/a (22 December 2017)

Don’t you love moronic crypto currency buying

Ripple up 100% in 1 mth.
Merry Xmas


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## notting (22 December 2017)

> Ripple up 100% in 1 mth.
> Merry Xmas




Arn't you down on the other 4 by over 8% each for the month?


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## tech/a (22 December 2017)

Oops sorry make that 200 %
50c to $1.50

No all up in December


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## notting (22 December 2017)

Well done!


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## tech/a (22 December 2017)

notting said:


> Well done!




I really must thank all the Morons.


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## notting (22 December 2017)

tech/a said:


> I really must thank all the Morons.




Just thank the moron who buys it off you at a higher price than you paid, if that day comes.


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## qldfrog (22 December 2017)

tech/a said:


> Oops sorry make that 200 %
> 50c to $1.50
> 
> No all up in December



bought this week at $1 saw it at 1.66 today...very small amount but great %...


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## tech/a (22 December 2017)

Went down to 1.02
Now $1.43 
Really volatile


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## notting (23 December 2017)

Now 1.27

*Buffett partner Charlie Munger says bitcoin is ‘total insanity,’ avoid it ‘like the plague’*

Charlie Munger shared his views on cryptocurrencies at a University of Michigan's Ross School of Business event.
"I think it is perfectly asinine to even pause to think about them," he said. "It's bad people, crazy bubble, bad idea, luring people into the concept of easy wealth without much insight or work."
"There's just a whole lot of things that aren't going to work for you. Figure out what they are and avoid them like the plague. And one of them is bitcoin. … It is total insanity," the investor added.




Lend me your longs........


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## tech/a (23 December 2017)

Now $1.40
The whole portfolio is still up and very close to its high
So happy to sit


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## notting (23 December 2017)

Epic!


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## tech/a (23 December 2017)

Interestingly (well to me anyway) 
I’m running some T/A on crypto charts 
Control Volume —— it’s conformed as expected
Even during this amazing volatility

I’ll see if I can mark up some charts if interested
In watching 

As you know have skin in the game.


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## notting (23 December 2017)

I'm out as of 3.30am last night!
Pairing Bcash Longs vs Bticoin was compelling


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## skyQuake (23 December 2017)

GBTC US is where the action is! Its a listed Bitcoin ETF so all the punters have access to it. Historically trades around 60% prem to NAV. Last week it was at 110%. Last night's open it was at 0%
The vicious bounce from flat back to a large prem tells me there's still a lot of hot money interested!

ETF (candle) vs Bitcoin (blue). Normalized as of US open 1:30am AEST


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## noirua (23 December 2017)

Bitcoin Investment Trust NPV
http://www.hl.co.uk/shares/shares-search-results/b/bitcoin-investment-trust-npv


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## greggles (23 December 2017)

*Everything you need to know about Bitcoin*


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## notting (23 December 2017)

This is great analysis.  I'm in!


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## tech/a (23 December 2017)

There will always be three sides to crypto

Disbelievers
Believers
Stuffed if I know who cares anyway

If you do nothing else this coming year 
Read “ The Age of Cryptocurrency”

At least you’ll be informed.


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## qprjames (24 February 2018)

I assume investing in a company like Digitalx (DCC - ASX) would give good exposure to Bitcoin without having to actually purchase bitcoin? I also assume DigitalX might spread their risk with other cyrpto currencies etc?

And If a crash is on the cards, aren't they more likely to know about and sell (and similarly buy when thy know it might rise?). I assume the average bitcoin buyer these days has probably zero investing knowledge, and think it is a 'get rich quick' scheme and then it will continue to go up and up and up and probably not even find out about the drop until well after it has happened? Possibly even days after!

I was looking at investing a small amount into a company which deals with cryptocurrency and its trading methods. And yes i know i am aware i might lose the whole amount tomorrow if i do take the plunge!! Thoughts?


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## bitmonarch (18 April 2018)

Guys 2 questions: 1) Is it hard to obtain Bitcoin via cloud mining? I mean, maybe it makes sense to do so if you don’t trust exchanges and want to mine coins
2) If you know anything about cloud mining… What of the services reviewed on this website ( http://miningtop10.com/ ) would you advise?


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## Joules MM1 (18 April 2018)

alternate handles for new posters:
bitsuss
bitobvious
biteme
bituman, as in, hit the road jack dont ya come back no more no more no more......


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## moXJO (22 April 2018)

bitmonarch said:


> Guys 2 questions: 1) Is it hard to obtain Bitcoin via cloud mining? I mean, maybe it makes sense to do so if you don’t trust exchanges and want to mine coins
> 2) If you know anything about cloud mining… What of the services reviewed on this website ( http://miningtop10.com/ ) would you advise?




There are calculators to give you an idea of profitability. But in general it can be hard to turn a profit. Also a lot of scams and you are at the mercy of exchange rates, electricity and other maintenance fees. The company can just shutdown and take all your money as well.

Hashflare at least tries to show users they are trying to be legit. But I would always be cautious.
You basically make the initial investment and then let the contract roll. Read the terms and conditions before you click. And remember it needs to be money you can lose.


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## cclarkedi (7 June 2018)

If you want to buy bitcoins you can look for cryptocurrency exchangers on Google. I would recommend using large ones. Something like cex or poloniex


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## Kryzz (13 June 2018)

I haven't been actively trading crypto but still hold a small size portfolio. I have a question re account access if anyone can help though.

My iPhone is borderline dead and turns on only when it feels like, which makes accessing the 2FA via the Google authenticator app a nightmare. Has anyone been in this situation before?

If I get a new phone, will I need to disable 2FA on all my exchanges then scan the QR codes again on the new phone? 

Someone has recommended I backup my QR codes using "Authy" instead of the google app - does anyone here use this?

Thanks!


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## greggles (13 June 2018)

Kryzz said:


> If I get a new phone, will I need to disable 2FA on all my exchanges then scan the QR codes again on the new phone?




Although I haven't been in your situation (yet), instinct tells me that this is probably the simplest way to go about it. However your best bet is to contact support at the exchange and ask them, just to be sure.


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## Kryzz (13 June 2018)

greggles said:


> Although I haven't been in your situation (yet), instinct tells me that this is probably the simplest way to go about it. However your best bet is to contact support at the exchange and ask them, just to be sure.




Think I'll have to give that a go indeed.


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