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...

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.

But that said - like investing in penny shares that became big companies there are cheap cryptos that could go big... which ones who knows! This is how I do it: I opened an account on Coinfloor Send money to your Coinfloor account (I sent £20 to start with as address was in Poland!). But all good so sent more Here you can bid and buy bitcoins on an exchange.

Absolutely - go in with the attitude of 'I can afford to lose this money'. Buying them properly is a nightmare - but so is strapping on a harness and climbing your first tree! If you want to get into this you are looking at 1 to 2 months of reading watching videos talking to others involved etc - I would do this before buying anything myself. After you do your NPTC you then need a couple of years climbing to get to know what you are doing. Same as this.. although you do get an idea after a few intensive months if you're obsessive like I am! It is most definately not a get rich scheme and if folk approach you or you see the ads telling you this take a wide wide berth cause there are scams and nonsense now popping up all over the place... These are much much more than just money. Bitcoin is but there are newer ones that will be used for everything - in computer games, for storing data, for record keeping, for running contracts.... it will be crazy in the future!!

Fair enough and a good strategy as even if these pay off there will be a tax implication...

Yep - but what if it becomes easier, cheaper and safer to pay someone with a payment system based on these crypto currencys? I have yet to be paid in a bitcoin or similar yet - you can't get more early days than that! Haha At the moment it is a nightmare to understand and pay someone in say Bitcoin - but we are talking foetus in the womb times at the moment! It's around 2-3 years away I reckon before it becomes the norm. What did you think of Paypal before you got your head around it and started using it?

Fair enough I pulled all my money out of the stocks and shares ISA I had because I reckon crypto currency is safer. Stock market is as ripe as it ever was for a crash - money will look for a safe haven and that will be Bitcoin and the like. But for long term investment the stock market will always do well. Just my opinion of course...

Yep - I get that. That is the now. Today this technology is in it's infancy so it is a pain to use and complicated. It is not at all practical.. Can you remember when people talked about Paypal being a scam and not being secure? I can.. but these days it is seen as safe and secure. The person you paid in China paid a % to paypal for that transaction. What if he could take that payment without that % or at least a much much smaller %? I pay paypal almost £1,800-00 a month in fees at the moment...

They cannot make more of it - hence these forks that Dan mentioned (and which I don't pretend to fully understand... )

Well it's been around for 10 years now so what is short term? it's been trampled and slagged off by the high and the low, it has batted away endless talk of it's a scam, it's evil, it's a bubble... The origin of Bitcoin is something like out of a King Arthur legend...

What overseas currency is free? Cause it isn't for me... Yes it is easy within the UK. But what about those that don't own a bank account? How do they send money? Cryptos have the ability to enable the poorest folk on the planet (ok they need a mobile or an internet connection) to send and receive money. https://www.dash.org/2017/11/23/KuvaCash.html That is the thing - yes you can use these currencies for hiding transactions, for being anonymous etc etc - but is that the currency's fault? Yes criminal's use them for that reason. A hammer can be used equally to cave someone's head in as nail a tile onto a church roof but the hammer is just a hammer innit.

Yep - there is an element of that.. and some of the forks have value and some don't and next year that will be the issue with a hundred and one forks going on with Bit this and Bit that.. Hence research is required - research by yourself not your sister's boyfriend's uncle who used to work in the city don't you know and is an exceedingly clever chap!

HAha! that's the plan!

Haha! Yep although I expect you will pay in Neo or Dash or Ripple and battery saws will be so yesterday with the current minature fusion powered top handles with a power supply that lasts 3 years between de contaminations! :))

Like the early cars though if you had the choice between the first ever car built to drive to work on a rainy day or your cosy Navara - you'd go for the Navara... the antique first car may run but you keep that in your garage as it keeps appreciating in value. Bitcoin is like this first car - no doubt folk thought it very odd to start with - unreliable, no power, not that useful. Bitcoin is already becoming like this first car as new more modern crypto currencies start to come through that is more efficient and has more uses. How many cars and choice do you have today? That is the same as the crypto currency... Some will go on to become icons - some will simply just become obsolete.

Nope! - it is EXACTLY like gold - there is a finite number of Bitcoin - and each year it gets harder and harder to mine it and less and less is mined until 2040 when it will be unable to be mined. It is impossible to increase this figure.

Yep well you're right there are now pyramid type selling schemes getting involved with Bitcoin and yes it has now become an industrial process to mine them almost like mining for gold and other minerals. Hence if you ever think of getting involved do your research first... Few points though - what makes you £ or $ note worth anything? It is simply a bit of paper or numbers in your bank account - but you believe in it right? Those pound notes have zero value other than convincing the next guy that they are worth something... but because the next guy does think those bits of paper are worth something they will take them. Bitcoin - there are a limited finite number ($21 million) - that is in stone - you can't replicate them, you can't copy them, you cannot hack them. There an only be a maximum number. No one controls Bitcoin. No one owns bitcoin apart from you if you have some. Money we use now - you can replicate it, some copy it, you can print more if you want to. The more you compare the two the more you see that the £s we use and spend now have less value and less meaning than Bitcoin! (Am NOT saying we don't need £ - am saying if you believe that £ notes have a value then Bitcoin and the like have more reasons to have value. Bitcoin - you can send bitcoin to anyone anywhere in the world with access to the internet. There is NO INTERMEDIARY - no middle man, it is secure. Currency - there is one bitcoin not different types of bitcoin in different countries (like $,Yen,Euros) - it is universal. Money - you can only send it to other people in the world that have a bank account. There is a middle man taking a commission.

Just sticking this up to 'share the love' really.... I heard about Bitcoin a couple of years ago but only just started trading and learning about crypto currency the last few months. Bear in mind I have done a good 3 months of reading online, watching videos, trading - it is a MASSIVE subject that still the large majority know nothing about. And I have only scratched the surface... But this will be bigger than the internet, bigger than mobile phones... (IMO ) - possibly the biggest 'thing' there has ever been... Bitcoin has been out since 2009 - and already it is starting to show it's age. If you think about chainsaws and how they have developed over the years, none of us are using the first chainsaws ever produced... and same with cryptos - new and dynamic ones are being launched all the time. But I'm sure the very first chainsaw would have a large price tag - it just wouldn't be that useful these days.. For the conspiracy folk on here crypto currency was designed to take power away from government and banks and put it back into yours and my hands. But since then it is starting to literally explode with new possibilities.. At the moment the crypto currency world is something of an unregulated wild west but that will change and (because of the internet) it will change rapidly. Next year will start to see the start of practical adoption of these crypto coins. At the moment it's more just about the coins themselves being traded. So what? What are you telling us for - I'll learn about them when they become mainstream... I suppose there is no one answer to that - maybe start looking into it all and make your own mind up. I would not pay too much mind to the 'yeh that Bitcoin is a scam innit' 'criminals use Bitcoin though so it must be bad' 'etc etc etc. The more I find out the more mind blowing the possibilites and implications on how we will live in the future are. Plus if you do your research well and properly you can also make a few quid out of it. Hence thought I'd start a crypto thread PS and you never know someone out there may have got paid in Bitcoin a few years ago , forgotten about it, and this may jog their memory!!

Thanks gents and for those that missed out we have the Echo 2511TES in both a 1/4 .043 guise and a 3/8 lo pro at very good prices still... get 'em while they are hot! https://www.chainsawbars.co.uk/?s=echo+2511TES&submit=Search&post_type=product

Yep here you go https://www.sugiharabarsuk.co.uk/product/bad-karma/

You'll never see these again! Ever! Online deals only - ends midnight Sunday - no calling Monday https://www.chainsawbars.co.uk/?s=Black+Friday&submit=Search&post_type=product

Yep Aberdeen will be highlands but only another £3 or so postage..

We'll be doing a milling kit for the Timberpro 62cc saw soon - only issue is sourcing the ripping chain at the mo... Incidentally we'll be doing a black friday deal next Friday only - EcoMill (36" chilaskan), winch, cord, oiler, fixing kit all for £120-00+vat https://www.chainsawbars.co.uk/product/black-friday-package-new-36-ecomill-winch-cord-oiler-fixing-kit-worth-196vat/

Hi Will - everyone has come back with the same feedback on the Maya chain and it matches my own experience. Basically it is a good chain. I suppose I worry if I get a bulk load in willl the quality be the same? We may well still do it.

Yep - not just hard to track - pretty much impossible... But like a knife you can use it for cutting vegetables or mugging old ladies - clearly the second is wrong but is it the knife's fault?