Bitcoin and other Crypto...

[TheHowieLama]

Dodgy shit fellas

[Boss]

I remember reading about a game where players would sell in game items to each other for Bitcoin. This was back when it was totally worthless. They reckon they'd all be multi millionaires nowadays if they kept their coins. 

[Dougie Do'ins]

If it had the encryption key stored on it, there's no other way of decrypting the data to sell them.

So you could lose or have stolen your phone, ipad, laptop, etc and you'd be fucked ?

[TheHowieLama]

Or hacked -- ooohhhh! Free money.

[Jose Jones]

TheHowieLama, on 30 Nov 2017 - 10:29 AM, said:

 

Or hacked -- ooohhhh! Free money.

I don't think that you can be hacked, because there's a specific encryption code for a specific transaction that is related to your own encryption key, which is how the old blockchain works.

 

There is obviously a massive bubble risk with cryptocurrency, because as seen by this thread, a load of people are getting into it purely to speculate and without really knowing what they are doing. If you are someone who does know a bit of what they are dealing with, don't care too much about losing money and are able to cash in at the right time then there probably is some money to be made from those suckers.

 

The Reserve Bank of Australia has actually been looking into a crypto-dollar. It would particularly useful for international trade applications and preventing piracy and fraud in stuff like medicines and food as the payment travels with the goods.

[Captain Turdseye]

Internet kicking off as coinbase and other exchanges went "down" just before the mini crash

My passport photo sent the system into meltdown.

[VladimirIlyich]

If everybody knows about it,its already too late.

[ZonkoVille77]

Finding it impossible to masturbate to this thread.

[Spy Bee]

If everybody knows about it,its already too late.

0.1% of the population have bought crypto so far. This is far from over, it's only just begun.

[Rico1304]

I tried to register and it won’t let me. That’s a sure sign everyone else will make millions.

[Pidge]

So you could lose or have stolen your phone, ipad, laptop, etc and you'd be fucked ?

 

I think the solution is usually a bit more elegant at this point, but it depends on the provider. I think non most cases you have a gateway which is traditionally online and you then have your personal access. How you keep that access is up to you and so as secure as you want to make it (like any password). They all rely on the blockchain network to mean anything though, which is inherently more secure than online services where you just run a password via an email client.

 

My knowledge on that side of it is all second hand though, haven't invested myself. Just interested in it as a new tech. Especially as it's a decentralised one.

[LF:D]

I was working for a guy (part time) who would put bitcoin currency on real coins.

 

So the person would purchased a coin would have a tangible product which on the back of the coin it had the code to the value of the coin.

 

I didn't fully understand it, as it seems such a huge topic.  

 

But he did give me a coin about 2 years ago, maybe I should check the value of it.

[Rico1304]

Roger Ver is interviewed on the latest Rubin podcast. He talks about the difference between cash and another type and banks v wallets. Interesting.

[Rotpeter]

If you own Apple's shares and the demand for them dries up, you are also left with nothing, you can count on a dividend, but if the company runs into trouble, there is nothing.

 

I guess it is about cashing in before the bubble bursts. As always.

And people are scared of the bubble bursting because so much cryptocurrency is used for illiegal/semi-legal transactions which will sooner or later attract massive scrutiny. Defo not one for the conservative investor!

[liverpoolsno9]

Not got s clue how it all works but I bought some bitcoins about 7 years ago. The fella who's server I was using for my cardshare wanted paying in bitcoins so opened an account and bought some. Probably about 20 Euros worth. I remember it being a right pain in the arse and I didn't understand it. I bought more coins than I needed so I could pay him the following month. His server was shit so never sent him anymore. Only after reading this thread I remembered about it. I can't remember my login details and it looks like the email I've used on 'forgotten password' isn't registered. I got no idea what email I could have used! I haven't had that many and it's not taking any of them. Even if I could login, would I still be fucked because of the security key ? When would I have got the key? When I made the transaction? Would it not be saved anywhere? Email?

[Bob]

I just bought £250 worth split between bitcoin and the ethereal one. Signed up to Coinbase while I'm stuck on the train having read this.

 

Interestingly the markets bounced upwards immidiately so they must realise I'm involved now and then need to sort their shit out.

[Bob]

With that said, I've got £8 less in my account than I've invested because of the fees so I'm not ready to payoff the mortgage just yet!

[John101]

I'll go to my grave not understanding any of this.

[Rico1304]

With that said, I've got £8 less in my account than I've invested because of the fees so I'm not ready to payoff the mortgage just yet!

What were the fees?

[Captain Turdseye]

What were the fees?

Eight quid.

[TheHowieLama]

Par.

[Bob]

What were the fees?

£1 per transaction due to paying on card rather than a bank transfer I didn't understand, plus a percentage something in the order of £2.50.

[tokyojoe]

Received this today on that Linkedin thingy:

Guide to Buying Cryptocurrency

https://www.linkedin.com/pulse/guide-buying-cryptocurrency-vitaly-pecherskiy/?trk=eml-email_feed_ecosystem_digest_01-recommended_articles-6-Unknown&midToken=AQHJPbXkxBr3Ng&fromEmail=fromEmail&ut=0NLxESqy-Bzo01

[Bob]

I'm in profit now! I like this game.

 

I bought £75 of Litecoin when it was back up and running last night, so £325 investment now worth £327.52.

 

Might cash out.

[Bruce Spanner]

After you all make your fortune I have a bunch of tulip bulbs I've been sat on for a while that you might be interested in?