The Crypto coin thread

[Woodworks]

If it's going to be taken seriously as a currency surly it's going to mess it up having multiple crypto currencies? It's bad enough that it's ludicrously difficult to set up and use but then which one do you go for, Bitcoin cash, Bitcoin,  Ripple, NEO, Litecoin, Menero, Dash, Zcash? As a trader Rob D has set up to take Bitcoin but say I have Litecoin will you take that?

 

Quite like the idea of an electronic world wide currency but mulitiple ones is surly going to undermine the whole idea. Which leaves it looking like a glorified Pyramid scheme. Still watching it all with interest and quite like the subversive side of bypassing banks.

Edited December 2, 2017 by Woodworks

[matelot]

I'm going to set up my own crypto currency called the "mate". I think you lot should join me at the ground floor and invest in some. Imho it's an awesome investment and it's virtually guaranteed to make you money!

 

I'll sell you a single "mate" for £150 or three for £500.

 

Just post your cash (no cheques) to:

 

PO Box 123

Scam City 

 

[spudulike]

IMO, ISAs are a wonderful beast and it annoys me that most people confuse the Equity ISA with the poor Cash ISA. You take your savings, stick them in an ISA, REINVEST yes....REINVEST the dividends and increase in share price (Compound Growth) and if you keep an eye on how your ISAs are doing regularly, move them once in a while to more lucrative funds and investment areas, you keep them there for 30 odd years and as long as you keep popping in a payment when you can, you end up with a thumping great sum that is tax free which is unlike a pension fund although you do get tax relief on any payment in to a pension. You can pull money out of an ISA when you like unlike the Pension where only 25% can be drawn down tax free after you reach 55!

The stock market has been cruising for a bit of correction/crash for a while but that is life, seen it all before but look as a crash as a good time to invest as much as you can as the markets can often only go one way after a big one!

They are a fantastic opportunity that most just pass by - just look what some mid to good European funds have done this year - 25% isn't uncommon!

Some think they are inflexible but you can shift funds about online and sell/buy the same way!

Each man to his own!

[john p]

So, what’s the mining thing about? Are there loads of unclaimed bitcoins just lurking in the dark web?

[eggsarascal]

42 minutes ago, john p said:

So, what’s the mining thing about? Are there loads of unclaimed bitcoins just lurking in the dark web?

I'm glad it's not just me John. I had a look at this today and I ain't got a clue what it's all about.

 

I did see a Crypto Currency mining machine for sale though, fancy going halves?

[Mark J]

I think the idea of bitcoins etc seems canny alien at first.  I still think contactless payment are space age.  Everything about cryptocurrency makes sense to me though.  Why should you conduct transactions through a bank?  Why should you entrust your money to an organisation that may or may not go bust?   We live in a digital age, this is a digital money.

 

I like the idea that my money can be safely stored behind a string of numbers that only I have the key to.  I like the fact that I am free to move around the world, taking that money with me. 

 

Honest people will pay their taxes.  Dishonest ones will skirt them, regardless of how they're paid.

 

I suspect that much of the noise about the criminality aspect of crypto currencies is being pushed by the organisations who have the most to lose from them.

 

 

[john p]

I'm glad it's not just me John. I had a look at this today and I ain't got a clue what it's all about.
 
I did see a Crypto Currency mining machine for sale though, fancy going halves?

Yes mate, always ahead of the curve ain’t we!

[Richard 1234]

The problem for me is that they claim is not hack able yet 2 minutes search proves otherwise. It might not be possible to hack the actual system of creating them (though not sure I believe that either) but it is very possible to steal the completed bit coins from the exchanges. That puts me off completely!

[matelot]

50 minutes ago, Mark J said:

Everything about cryptocurrency makes sense to me though.  Why should you conduct transactions through a bank?  Why should you entrust your money to an organisation that may or may not go bust?   We live in a digital age, this is a digital money.

You don't need to conduct transactions through a bank... Ever heard of cash?

 

Normal money is "digital" as well. You think when you buy something online your bank sends someone out in a car to deliver the cash to the vendor?

 

 

 

59 minutes ago, Mark J said:

 

 

I like the idea that my money can be safely stored behind a string of numbers that only I have the key to.  I like the fact that I am free to move around the world, taking that money with me. 

 

 

Whenever I go abroad I take my bank card with me. I can go to any ATM put my bank card in enter my pin and take money out....

[dan494]

33 minutes ago, Richard 1234 said:

The problem for me is that they claim is not hack able yet 2 minutes search proves otherwise. It might not be possible to hack the actual system of creating them (though not sure I believe that either) but it is very possible to steal the completed bit coins from the exchanges. That puts me off completely!

Not only that if your harddrive goes bang you've lost the lot