Rob D

Next 12 weeks should be fine, next 6 months as well (probably!) - long term I'd say Bitcoin's days have to be numbered. Huge power to mine it, slow to send and expensive to send. At the moment it is used to buy other coins but if the exchanges start to change that? Well then surely it's days are numbered. Ethereum is a better bet - but again newer technologies are emerging. Some of the newer coins such as NEM, TRON, CARDANO, RIPPLE I'd say are better bets.. but of course no one really knows. There are new and much better coins and much better technology now. I was checking out RaiBlocks - newer technology - transactions are fast and FREE! Yes it is free to send money from A to B and uses virtually no power. Ok these newer technologies are new - no doubt there are bugs etc but in the end I'd expect them to take over. I tend to use Binance now as preferred exchange - most coins I put in wallets and the rest leave on the exchange to trade (I accept these are at risk if the exchange is hacked). Best thing I reckon is to spread your coins about rather than have them all in one coin.

Ok Rich and Mark just sent you over 200 Dogecoins - they should show up pretty quickly Anyone else? Will do around 1000 coins...

So anyone going to stick their head above the parapet?

Yes because last year as from 1st Jan 2017 it was $0.000233 and 1st Jan 2018 it was $0.00870 so an increase on investment 3,700% or x37. Saw the bank manager the other day as needed to open another account. He also asked did I want a savings account? 'How much interest does it pay' 'Oh it's 0.35%' he replied. You're right - it goes to show how ridiculous some people are with their investments

Apologies on this one only the first sentence on my post was for you - the rest for everyone else. Now I read it back it makes me look like a right patronising so and so which I know I am - but I just didn't mean to be on this occasion

Limited time offer, terms and conditions apply, myself as the sender will not be held responsible for the loss, damage or otherwise degradation of this Dogecoin or other implied monetary .. blah blah blah

OK Rich how about some Dogecoin for this year? Free to a good home - x200 of the little beauties! Download this wallet (make sure is this one as the others can be harder to set up) - find the receive bit, take a pic and post up here. Same for anyone else on here x200 Dogecoin which I reckon will be worth $200 end of this year, it could be more! And if it burns out it cost you nowt! - stick the scan picture thing up on here and I'll send you some. Just as a wee experiment.

Yep we are all entitled to our own opinion simple is that... I still struggle a bit (ok I lie I struggle a lot!) with why everyone just keeps looking at the money involved with crypto currency... the money is the smallest part of it!! The money is a minor side effect of it... it is the tip of the tip of the iceberg. Imagine crypto currency as a rocket. This rocket is going to the moon. Bitcoin was that first big booster/fuel cell that comes off the rocket and falls back to earth as the rocket comes out of the atmosphere. It was and still is a fundamental necessary thing but in the end it will fall back to earth as it is no longer needed. Hence no need to stay too focused on Bitcoin. It is needed for now but I suspect in the future (but this is still a year or so away) it will be available to see as a small glass exhibit at a museum!

Yep fair enough Spud - like virtually everything in life it is not for everyone. I reckon just keep an open mind to it all... that's all. No need to have strong opinions on this that and everything else. Me personally deep down I think we have not even started yet... this is the start. This sphere is beyond what has ever happened before. It will usher in new technology that could not even have been dreamed about. It's not all about the money - but money always comes in handy! What are my reasons for bleating on about it? Same as they were in the original post...

Well said Rich... Although could be amended to a Dog e coin is for life or until it reaches $1.00 then you sell the lot and emigrate to Barbados

What I can't work out seeing the reactions on here is that folks seem to be placing themselves in a lose loses situation in their opinions and thoughts. If Bitcoin and the like explodes upwards, keeps going and makes fortunes - it'll be unfair because that'll be taking food out of you and your families mouths. If Bitcoin and the like crashes and burns never to be heard of again - the best you can do is say 'told you so'.

Yep you're right who in their right mind would invest in such a thing... you would have to be beyond stupid... right? (only history and perspective judges stupidity from brilliance....). Luckily I only have $3k in that one so phew! (and no I'm not joking either!). Why would I do that? Because so often it is these type of ventures that start as a joke or start as a mistake end up being some of the biggest ideas. They have a great friendly community behind Dogecoin, they have a forum and it is cheap and easy to use. I would expect this to increase in value x100 in 2018 (no am not joking about that neither!). I got my missus some for Christmas - she hid her delight and surprise surprisingly well

Bitcoin has the possiblity of crashing but not because it is a scam or a pyramid scheme... Massive power consumption now needed to perform Bitcoin mining. And you can't just stop mining because it is the miners that validate and run the network. Is it therefore sustainable? This power usage will only get higher and higher... If the price drops a lot it becomes not worth mining it - which means the network slows down and or even ceases - which means more people sell, price drops, and down she goes! High transfer fees - because Bitcoin has increased so much in value the fees for transferring Bitcoin have gone up - they were always meant to be negligible. Speed of transactions slow - again down to price and the amount of transactions on the network. Few years ago they were instant - now they can take up to 10 hours. The whole ethos of Bitcoin was to have fast cost free transactions. But both these main fundamentals are no longer true. Doubts about Tether coin which it seems could have been used to artifically increase the price of Bitcoin and if the all the coins drop then people buy Tether (which is pegged to $1) in order to safeguard gains... then when you think the Bitcoin price is at lowest you buy in again. Last time looked at this there were $800 million in Tether, now there are $1,200 million of tether... if you look at the chart you can see it has gone up because folk see all the coins dropping and look for a safe haven! And this coin has got to be the least safe haven! I was hoping at some point in the thread we could turn the debates and discussion more about the above rather than just the standard 'she looks like a witch so buuuuurrrrnnnnnnn her' type posts

Haha! Just worked it out! You're that Kaiser Sosay or Satoshi Nakamoto right? Now if you don't know Satishi Nakamoto or who he is - maybe have a wee Google (if this interests you) and look into things a little deeper than what the Daily Mail does

So no need to actually confirm or deny this in or on a public forum, just food for thought. From this statement you have never done a cash job right? You have declared every penny you have ever earned and never hidden it?

The exchanges that Bitcoin is traded on got hacked. Bitcoin itself has never been hacked to date. Don't confuse the two things. Money in the bank is insured up to £80k - so what happens if you have more than £80k?? Said it once and said it a thousand times - I have researched how money £ notes began - how it stopped being backed by the gold standard... quantitive easing... the real 'scam' (in my humble opinion) is the bits of paper you currently carry in your wallet. That is when you see more value in the cryto currencies. My investment in cryptos tends not to be in Bitcoin because of the nonsense that has grown up with it. But that still does not change what Bitcoin is and isn't.

How has he possibly got a point? He's contradicted himself 3 times just in that 1 post!

You do not understand what Bitcoin is because I have read all of your posts and it's pretty clear you have little to no knowledge on the subject. And yet from that place of little knowing you feel entirely able to cast down weighty and mighty judgements. You'd have us all being bummed and burned to death in hell for our sins wouldn't yee given just half the chance Does life become tedious to have such strong feelings on everything all the time - most of which you know little or nothing about? I used to inhabit that same place and it has taken an awful lot of self discipline and work to move away from it. I'm not there yet but I am getting there. It was about the time I started boring myself with myself I thought 'enough is enough!'

There really is more to it than that Dan. The more I look into it (and this is going on 2 months + of online research and reading on average 2 hours a day) the more I see that Bitcoin is more real than the money we currently use today. I don't quite understand the pyramid selling anology either. And the vid you have just put up - he doesn't say it was a fraud or a con - he just says it's a bubble and that people are investing in something they don't know much about. There are pyramid schemes built around Bitcoin - yes - but Bitcoin itself is not a pyramid scheme.

Yep but I suppose it was always going to happen to a greater or lesser extent. Some coins will become more mainstream and some will stay more 'pure' to the original intention. I suppose up to the individual what they choose to invest in.

They do say don't store you crypto money on the exchanges - but it's easier said than done - so much handier to have it on there. But best to take off and put in a wallet each time.

Have a go with Cryptomate https://cryptomate.co.uk/

Yep answered this on the other thread but it may be because of the below: Dear Rob, As a reminder, from December 15th 2017, Coinfloor will discontinue the Express Buy service, increase fiat and cryptocurrency deposit minimums, and reinstate trading fees. Coinfloor has established its position as the most liquid bitcoin to Pound Sterling exchange in the world. We believe that these changes will allow us to exceed our clients expectations even further, offering the most competitive fees in the market and the lowest in our history. Please note that Express Buy transactions will continue to be completed by Coinfloor Brokers until December 15th, but we will only allow creation of new purchases until the end of Tuesday, December 12th.

Ok well another (seems UK based) way to buy is Cryptomate. https://cryptomate.co.uk/ And in some ways better as seems you can buy the other coins here. BUT - they don't seem to allow you to sell coins here only buy them. I took my Bitcoin bought on Coinfloor the other day, traded it back to £ then sent it back to bank account and it came through a few days later. And that was with a small amount. Normally it would not be worth doing small amounts due to the high fees but you really always need to test with a small amount first to make sure it all works... If you buy on cryptomate then the procedure for sending to your Bitgo wallet is the same.