The Crypto coin thread

[Rob D]

So you stick your bit in and buy your Bitcoin.

 

Now you need to send it to your Bitcoin wallet - I use Bitgo.

 

 

You do this by copying and pasting an address (like putting in someone's bank code and sort code). It's long and you have to get it right or else that's it the money may well be and probably will be lost to you forever! So I do a small amount first, double check the first 2 and last 2 digits.

 

 

[matelot]

Back in 17th century Holland the price of tulip bulbs went through the roof in a speculative bubble. At one stage single bulbs were being sold for the equivalent of ten years wages for a skilled worker. Eventually bulb prices collapsed and a lot of people lost money.

 

imho, Bitcoin seems a similar speculative bubble....

[Rob D]

From your BitGo wallet you send to another exchange if you want to then buy other crypto coins.

 

With the other coins you have to use either Bitcoin or Ethereum.

 

I use Bittrex and Binance...

 

And then you see the full madness of the crpto world!

 

Bid for other coins and then after you get them you need to put them back in their respective wallets...

 

 

[Rob D]

So really it's all pretty simple

 

Like I said it all takes a while....

[matelot]

9 minutes ago, tree-fancier123 said:

All my savings are in my ISA, but I'm only paying a fixed 3% on my mortgage - so not much incentive to clear that first when some big companies yielding 5 or 6% dividends, if global interest rates normalize to historical levels my ISA is going to take a hit - I will still get my dividend income though. Capital at hazard, as they say.

Over the last century the UK stock market has made on average 5% a year in real terms  so I think your strategy is sound

[Rob D]

2 minutes ago, matelot said:

Back in 17th century Holland the price of tulip bulbs went through the roof in a speculative bubble. At one stage single bulbs were being sold for the equivalent of ten years wages for a skilled worker. Eventually bulb prices collapsed and a lot of people lost money.

 

imho, Bitcoin seems a similar speculative bubble....

Hmmmmm.... I would have thought you could do better than that well worn and over used quote mr Matelot

 

I would have thought crptos were your dream come true? They pull power from banking and gouvenrment and give it back to us! They will re shape society!

 

Anyways it's a poor anology - how many tulips can be grown? There is only a limited supply of bitcoin... plus you can't send tulips over the internet or pay for things in tulips!

 

 

[Rob D]

Ok I think that's enough of kicking poor old Rob Ds head in - should have called this the Crypto bashing thread

 

Will come back for another session later on today me being something of a pessimist, or is it masacist... that one where  you whip yourself and tell yourself you've been a naughty boy

 

[tree-fancier123]

just looking at the graphic above there are loads of bandwagon currencies  popping up - Einsteinium , Vertcoin, Powerledger, a bit  like Matelots fancy coloured must have tulip varieties.

[matelot]

2 minutes ago, Rob D said:

Hmmmmm.... I would have thought you could do better than that well worn and over used quote mr Matelot

 

I would have thought crptos were your dream come true? They pull power from banking and gouvenrment and give it back to us! They will re shape society!

 

Anyways it's a poor anology - how many tulips can be grown? There is only a limited supply of bitcoin... plus you can't send tulips over the internet or pay for things in tulips!

 

 

Just because tulipmania is a well known speculative bubble it doesn't mean it's not a relevant lesson from history...

 

In every speculative bubble people like you said "this bubble is different", and in general they've been proved wrong.... What's to stop countless computer boffins starting their own crypto currencies? 

 

You really think Government couldn't stop Bitcoin trading if they wanted to?

[dan494]

52 minutes ago, matelot said:

Just because tulipmania is a well known speculative bubble it doesn't mean it's not a relevant lesson from history...

 

In every speculative bubble people like you said "this bubble is different", and in general they've been proved wrong.... What's to stop countless computer boffins starting their own crypto currencies? 

 

You really think Government couldn't stop Bitcoin trading if they wanted to?

nope they couldnt stop it, they cant even stop us streaming films and tv shows despite blocking all the torrent sites