Cryptocurrencies, and the next big thing

[LifeChoices]

“This man sold everything for bitcoin and is now on a campsite awaiting the boom”

https://www.google.com.au/amp/s/amp...-a-campsite-awaiting-the-boom-20171010-gyyd1p

Is this you LifeChoices?

Nope, but he got in at the right time didn't he. Bitcoin went up another 15% after that was published.

 

[Wysiwyg]

Bitcoin went up another 15% after that was published.

I opened a real account (I.D. submit, no deposit) with ACX on Tuesday and gave the more expensive Coinbase the flick. Price has gone up incredibly over 1000USD in 4 days. Saw me coming via that megaphonic monkey. LOL.

 

[qldfrog]

question with the expect; 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

 

[LifeChoices]

This is how your portfolio would look if you invested $100 in the top 10 cryptos on 1 Jan 2017. It would actually be more as I didn't include bitcoin cash and bitcoin gold which you got free.

I was so impressed with this little chart I did the same thing on Dec 1. One of my purchases was IOTA - it has gone up 273% in 5 days - that's right two hundred and seventy three percent.



source: https://www.aussiecrytpotrader.com/

 

[AussieNick]

question with the expect; 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

Hey man, if you've got a decent size crypto portfolio have a look at a hardware wallet, keep key and the ledger nano s are the best.

If you've only in BTC and ETH the keep key, otherwise the ledger nano s as it supports a ton more altcoins.

Basically, the devices store you private keys offline and need to be plugged into a PC (or airgapped PC to produce the auth codes if your that paranoid) before any transfer of coin can happen. No way for your coins to be hacked and removes the keys from an exchange. Remember the public key stays on the ledger, it the private key (proof of ownership) that you need to keep secure.

Read up on cold storage, theres a heap of articles that explain it better than I ever can.

 

[qldfrog]

Hey man, if you've got a decent size crypto portfolio have a look at a hardware wallet, keep key and the ledger nano s are the best.

If you've only in BTC and ETH the keep key, otherwise the ledger nano s as it supports a ton more altcoins.

Basically, the devices store you private keys offline and need to be plugged into a PC (or airgapped PC to produce the auth codes if your that paranoid) before any transfer of coin can happen. No way for your coins to be hacked and removes the keys from an exchange. Remember the public key stays on the ledger, it the private key (proof of ownership) that you need to keep secure.

Read up on cold storage, theres a heap of articles that explain it better than I ever can.

Thanks . I ultimately did a paper wallet, was a bit hard to put it back to use it but I manage with a bit of effort and sold back enough to cover my initial purchase , now I can let BTC run.probably not worthe yet the hardware wallet expense with what is left but I might go that way if BTC goes higher

 

[skyQuake]

Bitcoin futs start trading at 10am Syd time.

 

[greggles]

Bitcoin futs start trading at 10am Syd time.

Looks like the Bitcoin stampede crashed the Cboe website.

 

[AussieNick]

As a complete noob, will the intorduction of futures trading bring an influx of new investors into BTC? I've been watching LTC, XRP and ETH over the last 8 weeks as BTC has become a more main stream media topic and notice that people who want to get into crypto but don't have the money for bitcoin seem to be jumping onto the other alt coins, obviously causing those prices to rise. Will today's new trading option see another spike in terms of new investors, not just to BTC but the other crypto's do people think?

 

[galumay]

I doubt it will bring any investors, but plenty of speculators will pile in, the FOMO is palatable, cryptos are being talked about by taxi drivers, there are threads on forums about parenting, facebook community noticeboards.... cryptos "are different", they "are game changers", anyone who isnt in is "old and out of touch", "its going to go a lot higher", "you cant lose"

I cant remember the last time I saw all the signs of imminent collapse and ruin all so strongly represented and aligned. Until it doesnt, it will.

 

[Smurf1976]

Yep. Had a discussion about it last week with someone who has absolutely zero investment experience outside superannuation, their own home and ordinary bank deposits. Never owned a share in anything - but they’re keen on Bitcoin.

Another was saying Mr x’s wife is being unreasonable in saying he mustn’t quit his job. He’s making a fortune on Bitcoin apparently so sees no point in working.

Then there’s the one into Bitcoin mining. They’ve got it all set up out the back in a shed apparently and have come up with a way to put all the heat being produced to good use. Insulated duct in the ground and blow the hot air into the house as a means of heating. I’ll give them credit for innovation with that one.

Sure looks like a bubble to me. Reminds me very much of the internet stocks boom with the enthusiasm it’s generating.

Gut feel is it’s going a lot higher before the inevitable bust. Once it passes $50K it’ll be bigger than any listed company anywhere and getting to the point where any collapse involved serious $ being lost. With the rate it’s going at recently it could easily be at that sort of price early in 2018.

 

[Wysiwyg]

Charlie Lee of Litecoin creation was speaking on CNBC and he is a true believer. Litecoin up 22% at the moment so since he probably has millions of Litecoin he may be giggling like a cheeky boy right now. 'Build it and they will come' (Field of Dreams) springs to mind.

 

[OmegaTrader]

I wonder how long this company will be around??

 

[moXJO]

Trx starting to move. Couple of companies using their tech

 

[SuperGlue]

Banking On Bitcoin - Full Documentary Film


Also on Netflix

About bitcoin origin, cypherfunks, first transaction and Bitcoin traders that get caught.
Who Satoshi Nakamoto really is.

Very interesting doco

 

[skyQuake]

Binance just closed new user regos. This follow Bittrex, CEX and others.
Demand is overcoming supply!

 

[moXJO]

TRX aka Tron anyone on it?

 

[notting]

Here it is, get on board, it's still cheap -


A cryptocurrency created as a parody is now worth more than $1 billion

• Dogecoin, a cryptocurrency created as a parody after a popular internet meme, now has a market cap of more than $1.1 billion
• The rise of Dogecoin and other bitcoin descendants is due to the fact that they're perceived as being "cheap" compared to bitcoin or ether, according to Dave Chapman from Octagon Strategy
• One of the Dogecoin founders told a cryptocurrency news site that the token's rise makes him worry about market excess

 

[greggles]

Confusion in the cryptocurrency market today.

Cryptocurrency market crashes 20 per cent as website ditches South Korean exchange data

http://www.news.com.au/finance/mone...a/news-story/ecc5f4dcab56b5f3da31b803b1db4446

 

[notting]

So so innovative after all -

"At a typical Bitcoin exchange BTC is sold at a price 2 per cent higher than market rates; then they charge u another 2.5 per cent as a purchase fee; then they charge u another 5 per cent as a credit card transaction fee. So total fees are 9.5 per cent. So much for cryptos reducing transaction costs to 0 per cent. Scam!"