Bitcoin and other Crypto...

[VladimirIlyich]

We do pretty much fuck all about money laundering with traditional currencies so I am sure this will be just as ineffective.

 

London is the money laundering capital of the world and has been for some time.

Yep. Those former Swiss bank accounts have migrated to the City of London.

Immigrants out!

[Spy Bee]

Waiting fucking hours to transfer bitcoin so I can buy XLM!

 

This is the major problem with bitcoin!

[Spy Bee]

Quiet day in work. I now have a stupidly large portfolio of currency, but have pretty much trippled my money. I'm going to just not look at it for a month now.

 

 

Until about 9pm tonight, when I'll have to have a look.

[Strontium]

Hold fire for now else you'll get burnt, value will plummet soon.

 

It's the same with all speculative bubbles, isn't it? Some people will make a great deal of money and some people will lose a great deal of money. The only question is how soon it takes for the whole thing to come crashing down.

[Bob]

Spy bee, how safe/risky are those other platforms you've been buying through?

[Spy Bee]

Spy bee, how safe/risky are those other platforms you've been buying through?

They're all sound.

 

 

It's the same with all speculative bubbles, isn't it? Some people will make a great deal of money and some people will lose a great deal of money. The only question is how soon it takes for the whole thing to come crashing down.

Why do you presume that it will all come crashing down? 

[Bob]

https://www.coindesk.com/62-million-gone-cryptocurrency-mining-market-nicehash-hacked/

 

News from 1 minute ago...

[Dougie Do'ins]

https://www.coindesk.com/62-million-gone-cryptocurrency-mining-market-nicehash-hacked/

 

News from 1 minute ago...

If that has happened and the money has been nicked, I'm guessing it's gone for good and it's tough shit if your one of the unlucky ones ? 

[Bob]

I'd imagine so.

[Dougie Do'ins]

So there's nothing to stop anyone from doing the following then.

 

Operate as a well run but ungoverned internet currency exchange. Gain the trust of people and then when you've got enough in the back pocket, just say you were mugged on the internet and sail off into the sunset ? 

[Bob]

Guess not, but the currency is worth fuck all if confidence goes to pot, surely.

[TheHowieLama]

Dodgy shit fellas

 

 

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.

 

 

can no longer log into the app, which is a bit odd.

 

 

Gotta say I really don't understand any of this shit...

 

 

 

 

Hold fire for now else you'll get burnt, value will plummet soon.

 

 

If that has happened and the money has been nicked, I'm guessing it's gone for good and it's tough shit if your one of the unlucky ones ? 

 

 

Guess not, but the currency is worth fuck all if confidence goes to pot, surely.

 

 

So there's nothing to stop anyone from doing the following then.

 

Operate as a well run but ungoverned internet currency exchange. Gain the trust of people and then when you've got enough in the back pocket, just say you were mugged on the internet and sail off into the sunset ? 

 

Anyways - my IP address may change in the next few hours lads.

[Spy Bee]

If anybody has been approached by a scheme called USI Tech, avoid it like the plague. It's a ponzi scheme.

[Spy Bee]

Anybody had a dabble?

 

If you put £100 in Bitcoin 10 years ago, you'd be a millionaire now

If you put £500 in five years ago, you'd be a millionaire now

 

I put £750 in Crypto including Bitcoin 5 weeks ago and it's now worth £1500.

 

Anybody else involved?

If you put £1000 in bitcoin when I posted this, you could cash out now for £1666.

[Bob]

My £475 is currently worth £595, though £150 of that is in litecoin and ethereum which are both down around £10 on what I put in.

 

Bitcoin is up 20% in the last day, so expecting a drop soon but I don't have enough in to make cashing out worth it. Just gonna ride it for 6 months or so, and if it drops hard maybe put a bit more in after payday.

 

I'm concerned about using other platforms so can't see how I can get into iota or any of the others you've mentioned.

[Paulie Dangerously]

Just put a tenner in bitcoins.  Watch it go to the moon now 

[Funkasy]

What would the bank say if a few millions came rolling into my bank account and the sender was anonymous? When your selling your bitcoins do you see who your selling to ?

 

I dont have any coins btw.

[Spy Bee]

My £475 is currently worth £595, though £150 of that is in litecoin and ethereum which are both down around £10 on what I put in.

 

Bitcoin is up 20% in the last day, so expecting a drop soon but I don't have enough in to make cashing out worth it. Just gonna ride it for 6 months or so, and if it drops hard maybe put a bit more in after payday.

 

I'm concerned about using other platforms so can't see how I can get into iota or any of the others you've mentioned.

Bitfinex is sound. You don't need to validate ID there as they don't deal in actual money. You just transfer Bitcoin from Coinbase and then transfer into IOTA or whatever. IOTA doesn't use blockchain, so I think it has a real stand out quality. It could really go as it's starting to get hype.

[Gym Beglin]

https://www.theguardian.com/business/2017/dec/07/rbs-sir-howard-davies-bitcoin-dantes-inferno-digital-currency

 

 

Sell, sell, sell.

 

 

If the central banks circle the wagons it's going to burst into flames very soon.

[Gym Beglin]

Two Chicago exchanges, the CBOE and the CME, will soon launch trading of cryptocurrency futures. This signals an impending stampede of institutional investors – many speculators, some hedgers. Just watch the fireworks fly.

[skend04]

Bitcoin must surely be the best shorting opportunity out there. I reckon as soon as exchanges get in on the act that's what will happen in the immediate term.

[tokyojoe]

Bitfinex is sound. You don't need to validate ID there as they don't deal in actual money. You just transfer Bitcoin from Coinbase and then transfer into IOTA or whatever. IOTA doesn't use blockchain, so I think it has a real stand out quality. It could really go as it's starting to get hype.

Can you get your profits (ie cash) out OK?

[Bob]

I've transferred £120 worth of BTC from my Coinbase app to a new bitfinex account but it's not showing up yet. How long does it usually take?

[Spy Bee]

I've transferred £120 worth of BTC from my Coinbase app to a new bitfinex account but it's not showing up yet. How long does it usually take?

Anything up to 48 hours, mine took 5 hours yesterday.

 

Bitcoin at 16,000$

 

I've just dumped half of what I own into IOTA.

[Spy Bee]

https://www.theguardian.com/business/2017/dec/07/rbs-sir-howard-davies-bitcoin-dantes-inferno-digital-currency

 

 

Sell, sell, sell.

 

 

If the central banks circle the wagons it's going to burst into flames very soon.

Banks in talking crypto down shocker!