Author Topic: Cryptocurrency  (Read 193 times)

JamoZ

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Cryptocurrency
« on: December 20, 2017, 07:28:42 PM »
Anyone here also riding the emotional rollercoaster that are Cryptocurrency?

connorhall70

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Re: Cryptocurrency
« Reply #1 on: December 21, 2017, 01:37:36 AM »
used it back when btc was 700 quid on darknet. fees too high and transfer times are way too long thanks to the batty boy miners on bitcoin cash.

investing in cryptocurrency has basically become a mainstream thing with news covering it and shit resulting in a ton of market manipulation. all ill say is dont think any crypto will ever overtake bitcoin, because its nearly impossible.
GanjaGod

HornetMaX

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Re: Cryptocurrency
« Reply #2 on: December 21, 2017, 07:44:52 AM »
Thanks but no thanks.

JamoZ

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Re: Cryptocurrency
« Reply #3 on: December 21, 2017, 10:12:38 AM »
used it back when btc was 700 quid on darknet. fees too high and transfer times are way too long thanks to the batty boy miners on bitcoin cash.

investing in cryptocurrency has basically become a mainstream thing with news covering it and shit resulting in a ton of market manipulation. all ill say is dont think any crypto will ever overtake bitcoin, because its nearly impossible.

The reasons you`re stating here is why i think one of the other coins will overtake Bitcoin at one moment. All it needs to do is fix all the inconveniences Bitcoin is having and Bitcoin will be dropped very hard. The transaction fees for Bitcoin at the moment are upwards of 30 bucks  :o It`s just a big gamble on which one it`s going to be, i think Ripple and Dash are the main contenders here...

Thanks but no thanks.

I really thought you would be balls deep into this  ::)

guigui404

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Re: Cryptocurrency
« Reply #4 on: December 21, 2017, 10:37:07 AM »
no thanks but thanks , no thanks

Luponius

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Re: Cryptocurrency
« Reply #5 on: December 21, 2017, 11:26:04 AM »
Have a few colleagues going on about it, it's honestly interesting to hear about, but I'm not really financially able to get involved into this as it stands.  If I was I'd toss half a grand into it and either I lose it or I don't, wouldn't care either way, that's the right approach for these volatile type of investments I think.

Meyer#12

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Re: Cryptocurrency
« Reply #6 on: December 21, 2017, 12:12:23 PM »
Well quite a few colleagues has invested in cryptocurrency and have made a decent amount of money. But they know it is a risk and there is a chance, that the cryptocurrency will crash.

But yeah, if you invest in stuff like cryptocurrency, it should only be money you can afford to lose. You never know what will happen. If i wasn't spending my money on racing, i would have probably risked it and invested some money in cryptocurrency. 
Meyer#12

JamoZ

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Re: Cryptocurrency
« Reply #7 on: December 21, 2017, 12:45:58 PM »
Yeah, of course you only invest money into it that you can afford to lose. My first bitcoin purchase was 30 bucks, which got cut in half because of the fee needed for the exchange and sending it to my coin wallet (which took 48 hours, not something you`re relaxed with if it was 5 grand)....after that the amount of Bitcoin i was left with was too low to transfer anywhere since the transfer fee was higher then the amount owned  ::)

The whole market depends on what Bitcoin is doing, and right now it isn`t doing well compared to other currency who are trying to overcome all the problems Bitcoin is dealing with.
I have a feeling 2018 will see the rise of a few other coins and a decline of Bitcoin, but that`s just speculation. Altough now is a very good time to invest in some of the smaller coins like Ripple or Electronum as they are still very low.

Have a few colleagues going on about it, it's honestly interesting to hear about, but I'm not really financially able to get involved into this as it stands.  If I was I'd toss half a grand into it and either I lose it or I don't, wouldn't care either way, that's the right approach for these volatile type of investments I think.

If you had bought 100 bucks of Bitcoin back in 2010 you would be settled right now, so why not put a couple of bucks into some other coins and just hold them? My aim is to have around 50 to 100 bucks in the coins that i believe in, so it`s not a big loss if it doesn`t work out.

But yeah, i don`t think there is a more volatile investment than Crypto right now  ;D

HornetMaX

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Re: Cryptocurrency
« Reply #8 on: December 21, 2017, 01:35:38 PM »
Thanks but no thanks.

I really thought you would be balls deep into this  ::)

Funny enough, I had to have a look into all this professionally.
But there are very few things I go balls deep into. I won't go into details but speculation is not one of them :)

The concepts, founding principles and technology behind crypto-currencies are interesting (more the former two than the latter one, despite what is said everywhere) but, as often, everything gets thrown down the drain as soon as speculation opportunities appear.

Bitcoin was meant to work thanks to the fact mining power is distributed: I'm not sure you can find a more spectacular failure in human history when you consider that the total mining power is essentially in the hands of 2 entities. And this even before discussing if it makes sense to use that much energy for a simple transaction.

A few days ago, ethereum was almost brought down to its knees by a new "application" running on their blockchain.
Now, at the cost of appearing narrow minded, I consider that slowing down a platform that is designed to support important applications (like identity, financial transactions, intellectual property, health, voting etc) is a bit silly when the responsible is an "application" that allows you to "buy" virtual kittens (?!) and breed them (?!?!) to produce more virtual kittens (?!?!?!) with the goal of collecting them (?!?!?!?!) or selling them (?!?!?!?!?!).

https://www.cryptokitties.co/
http://www.bbc.com/news/technology-42237162
https://techcrunch.com/2017/12/03/people-have-spent-over-1m-buying-virtual-cats-on-the-ethereum-blockchain/

It seems to me we evolved from "selling hot air", to "selling virtual hot air" and now we're at "selling virtual hot air on a blockchain". Apparently it's very... uhm ... cool.

But yeah, i don`t think there is a more volatile investment than Crypto right now  ;D
If you buy coins hoping their price goes up you're speculating. It's not a crime, but you can do it in plenty of other manners, including good old gambling.
I'm sure I can find plenty of things way more volatile than cryptocurrencies if that's what you're looking for. But then I'm also sure that volatility is *not* what you're looking for :)

JamoZ

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Re: Cryptocurrency
« Reply #9 on: December 21, 2017, 03:13:18 PM »
Yeah trying to import opium from the Middle East was way more volatile, but that was easier than sending a Bitcoin transaction  ::)