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Post by skint4achange on Jan 13, 2018 17:49:20 GMT
As for losing 100%, surely that is the basis of everything we trade in? Be it property, stock market, IFISA. General rule of thumb, never invest more than you can afford to lose! Exactly. Given some of some of the capital losses I encountered in P2P throughout 2017 I'd say crypto isn't actually all that scary a place to be... I would say that so far I have seen less chance of losing my money being invested in Crypto than I have being involved in Lendy! In P2P you don't find out your money is locked in a default until after the fact. At least I now have a chance to identify when/if that is going to happen and get out if it is within my power.
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gibmike
Member of DD Central
What is a cynic? A man who knows the price of everything and the value of nothing.
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Post by gibmike on Jan 13, 2018 20:11:48 GMT
Agree 100% with storing your coins offline. Most people I know use this: www.ledgerwallet.com/products/ledger-nano-sIt is not something I use however, I leave it to all the Hodlers. Many are tradng and switching to LTC before moving offline. Mike
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Post by skint4achange on Jan 13, 2018 20:51:36 GMT
Agree 100% with storing your coins offline. Most people I know use this: www.ledgerwallet.com/products/ledger-nano-sIt is not something I use however, I leave it to all the Hodlers. Many are tradng and switching to LTC before moving offline. Mike I don't really have enough invested to pay for a Ledger Nano. I did look at them but to be honest, a paper wallet is more than adequate for what I need. If I was like you big players and had a WHOLE Bitcoin, well that would be a different story!!
How strange that people talk about a whole Bitcoin now as if it is the holy grail! When it first started, the first Bitcon purchase was said to be 2 pizzas from Papa Johns for 10,000 bit coins! Bloody expensive pizza now at about $150m!!
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gibmike
Member of DD Central
What is a cynic? A man who knows the price of everything and the value of nothing.
Posts: 256
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Post by gibmike on Jan 13, 2018 21:43:28 GMT
Agree 100% with storing your coins offline. Most people I know use this: www.ledgerwallet.com/products/ledger-nano-sIt is not something I use however, I leave it to all the Hodlers. Many are tradng and switching to LTC before moving offline. Mike I don't really have enough invested to pay for a Ledger Nano. I did look at them but to be honest, a paper wallet is more than adequate for what I need. If I was like you big players and had a WHOLE Bitcoin, well that would be a different story!!
How strange that people talk about a whole Bitcoin now as if it is the holy grail! When it first started, the first Bitcon purchase was said to be 2 pizzas from Papa Johns for 10,000 bit coins! Bloody expensive pizza now at about $150m!!
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gibmike
Member of DD Central
What is a cynic? A man who knows the price of everything and the value of nothing.
Posts: 256
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Post by gibmike on Jan 13, 2018 21:49:47 GMT
I know! I bought my first bitcoin amount last year for $50 which is now worth $500, just to see how it all worked. Never intended to invest or do anything with it.
There are stories of people around here (Gib/south of Spain) who have been in Bitcoin since it was $1 who have accumulated cash wealth (sold end of last year) and have retired at 22/24. Good on them, $500 worth back then would have been $7.5m at $15k per BTC.
I think my biggest regret was setting up mining on my pc back in 2015 and not turning it on!
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scc
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Post by scc on Jan 13, 2018 22:44:40 GMT
i suspect the panic with Kraken has come about because there's a been a few exchanges that got hacked and then basically declared themselves bankrupt. Dogecoin was created as a joke coin, wasn't it? Still, in a bubble even turkeys might fly? The panic came about with Kraken because they remained quiet in certain quarters, including their own status update page. Kraken has a lot higher security than the exchange that I suspect you are referring to (Mtgox?). However, when an exchange stay quiet for over 8 hours when their website is down, panic becomes endemic.
Dogecoin probably was created as a joke, however I am now over 360% up in less than a month. I don't mind being a joke or a turkey for those kind of returns.
Here come the bubble comments again!!
There was a South Korean exchange recently that was hacked and then went bankrupt. I think if you have a coin created as a joke that people are actively trading for profit, then that's the kind thing bubbles are made of. It's very reminiscent of the South Sea company that was created for a purpose so mysterious they wouldn't actually tell investors. Some coins are undoubtably in a bubble as they will have no long term value once all of this shakes out (in the same way that some 2000 era dot.coms turned out not to have). Others might well do. Personally, I have a small amount in Bitcoin - mostly because I love the idea of a decentralised currency/asset, it has brand recognition and McAffee is just crazy enough to be possibly right.
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Post by skint4achange on Jan 13, 2018 23:23:45 GMT
As long as we all know where this (Most coins/currencies/tokens) will end up and are aware of the signs, we should be able to fend off the worst of it.
The Korean exchange that was hacked was stupid. How the hell do you validate holding so much virtual currency in "Hot" storage? They asked for that to be honest.
As for the currency that was created for a joke, yes it was but now is being used for other things, mainly making me money! As I said in a previous post though, I do not have enough of it to cry if it goes pop.
I agree with you that some/most currencies will disappear but I am more interested in keeping up with the technology as I really do think it has a genuine use in the modern world.
You have to laugh at John Mcafee, the security guru who gets his own twitter account hacked?? Or, should we all now be worried and buy one of his "Hack Proof" phones?
Whatever the Crypto world does, I am looking forward to seeing it and will try to make a little money in doing so.
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macq
Member of DD Central
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Post by macq on Jan 14, 2018 13:23:26 GMT
what i have noticed on this and other forums and is ironic (or fun if i used the word wrongly!) And i mean nothing by it other then it has just struck me -is that when people talk of their gains they always talk in £/Eur etc or percentage but no one says i made 400 bits or bobs or doge's today
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Post by skint4achange on Jan 14, 2018 13:47:17 GMT
what i have noticed on this and other forums and is ironic (or fun if i used the word wrongly!) And i mean nothing by it other then it has just struck me -is that when people talk of their gains they always talk in £/Eur etc or percentage but no one says i made 400 bits or bobs or doge's today Sorry, deleted the first post as I misread your post!
Unless you were invested in Crypto and talking to someone about Crypto you would have no need to reference it.
If I were talking to a greengrocer about having my roof recovered I wouldn't necessarily say that it was going to cost my 200Lb of oranges and 6 cabbages??
When you log into a Crypto Exchange, your investments can be set to show in Bitcoin, Dogecoin or any other Crypto or Fiat currency that is traded on the platform. I don't personally like seeing my investments in Bitcoin as 1 of those is so large you can't see the up/down trends clearly. However, I would love to say that I had made 30 Bitcoins profit today! I could retire if I had!
But if I were going to use them to describe my days trading, I have made about 3Bn Dogecoins and about 0.000000000000000000001 Bitcioins!
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Post by beeje13 on Jan 14, 2018 16:19:51 GMT
what i have noticed on this and other forums and is ironic (or fun if i used the word wrongly!) And i mean nothing by it other then it has just struck me -is that when people talk of their gains they always talk in £/Eur etc or percentage but no one says i made 400 bits or bobs or doge's today Someone I know was talking about their gains in a few different coins. They said they had bought 0.03 BTC worth of several coins, and now they were worth 0.04 BTC, a a healthy gain, he excitedly said. I then pointed out that BTC itself had dropped in the timeframe he had owned the coins, so the gain wasn't as much as he thought. Now he measures in Dollars or Euros.
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macq
Member of DD Central
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Post by macq on Jan 14, 2018 16:43:56 GMT
what i have noticed on this and other forums and is ironic (or fun if i used the word wrongly!) And i mean nothing by it other then it has just struck me -is that when people talk of their gains they always talk in £/Eur etc or percentage but no one says i made 400 bits or bobs or doge's today Sorry, deleted the first post as I misread your post!
Unless you were invested in Crypto and talking to someone about Crypto you would have no need to reference it.
If I were talking to a greengrocer about having my roof recovered I wouldn't necessarily say that it was going to cost my 200Lb of oranges and 6 cabbages??
When you log into a Crypto Exchange, your investments can be set to show in Bitcoin, Dogecoin or any other Crypto or Fiat currency that is traded on the platform. I don't personally like seeing my investments in Bitcoin as 1 of those is so large you can't see the up/down trends clearly. However, I would love to say that I had made 30 Bitcoins profit today! I could retire if I had!
But if I were going to use them to describe my days trading, I have made about 3Bn Dogecoins and about 0.000000000000000000001 Bitcioins!
hopefully the deleted post was not to rude as it is a Sunday
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Post by skint4achange on Jan 14, 2018 17:27:51 GMT
No, just answered your post in a way that wasn't even relevant!
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Post by badboyyardy on Jan 15, 2018 17:19:03 GMT
So Kraken back and zero trade fees until end of January - still can't log in and no response from support.
What other exchanges are people using for the smaller cryptos?
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Nomad
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Post by Nomad on Jan 15, 2018 17:26:21 GMT
So Kraken back and zero trade fees until end of January - still can't log in and no response from support. What other exchanges are people using for the smaller cryptos? I'm struggling to register with any as I'm British but currently out of the country. I have registration pending with several - most are saying there are delays due to volume of applications. I've made small investments through Revolut and am already down 2%. I'd like to get onto to an exchange where I can speculate a small sum on the lesser known low-entry-cost coins...
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Post by skint4achange on Jan 15, 2018 17:35:17 GMT
So Kraken back and zero trade fees until end of January - still can't log in and no response from support. What other exchanges are people using for the smaller cryptos? If you can't log on, try pressing "Shift" and F5 to clear your cache. You are probably trying to log in on a cached page which is why it won't let you.
Edit: Corrected mistake!
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