Australian (ASX) Stock Market Forum

Buying Bitcoins

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
 
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.
 
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.
 
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!
 
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.
 
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.
 
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.
 
Don’t you love moronic crypto currency buying

Ripple up 100% in 1 mth.
Merry Xmas
 
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