Cryptocurrency mega thread

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I thought it was time for a thread on Cryptocurrencies. Please refrain from giving direct investment/financial advice as this really is a personal thing as to what you buy. Would be great to discuss coins that are doing well and coins that are not, the benefits of buying certain coins and the technology behind them and why the were brought into existance.

Disclaimer, this is not a thread for financial advice, it is just a discussion on the merits and pitfalls of cryptocurrencies, nothing more nothing less. Please do your own research before buying and selling crypto's

Off topic and posts hassling members for buying cryptocurrencies will be deleted.
 
I'll add the first post, Bitcoin is up over $2000 in 24 hours, seems people have shaken off the jitters and are buying it again, I thought that it was almost doomed to fail after the fork with Bitcoin Cash, anyway off it goes again. :Y:
 
Dunno why people always like to knock what they don't understand or aren't interested in...... Anyway this thread will be cleaned up soon. Carry on making jokes in the meantime. :D :Y: :Y:
 
Your right i dont fully understand it , some of it makes sense .
but in my opinion it will be like emus or alpacas , get in early and trade out early as when the fad dies and new investors dwindle the market will become stale quickly.
I honestly hope you all make a small fortune :D .
 
Electroneum(ETN), still cheap, aiming for mass adoption by targetting smartphone users who can download an app. Still in its infancy so some teething problems so far but the team do get the problems sorted eventually. Might be worth a look and a holding for a year or more so you get your CGT discount.

I'm not a financial advisor and this is not financial advice.

Had you chucked $2,000 at their ICO late last year it would be worth a cool $37,000 today. Thats a GPZ7000, a used 4WD, and a Trailer tent etc right there. Or a deposit on a cheap house right there.

But these currencies are not real allegedly but somehow one can buy real stuff in the real world with the profits from them :/
 
diggit said:
Electroneum(ETN), still cheap, aiming for mass adoption by targetting smartphone users who can download an app. Still in its infancy so some teething problems so far but the team do get the problems sorted eventually. Might be worth a look and a holding for a year or more so you get your CGT discount.

I'm not a financial advisor and this is not financial advice.

Had you chucked $2,000 at their ICO late last year it would be worth a cool $37,000 today. Thats a GPZ7000, a used 4WD, and a Trailer tent etc right there. Or a deposit on a cheap house right there.

But these currencies are not real allegedly but somehow one can buy real stuff in the real world with the profits from them :/

So Diggit, you cashing out with the profit ....
I'm to ignorant to know ..... can you in fact cash out?
 
You can cash out to the bank account linked to your crypto exchange account. Same as any other bank transfer. You will not be able to transfer FIAT currency from an exchange to your regular account unless you have verified your account(100 points of id) with the exchange. take out your principal, expenses and put aside any tax liability you have.

Regular stuff, no hocus pocus.
 
aussiefarmer said:
Your right i dont fully understand it , some of it makes sense .
but in my opinion it will be like emus or alpacas , get in early and trade out early as when the fad dies and new investors dwindle the market will become stale quickly.
I honestly hope you all make a small fortune :D .

Me too mate, I'm not getting in too deep, just a bit of a flutter. Will see how it goes, no harm in trying.
 
Good on you Heatho for kicking it off, the old Chicken Little lines were getting in the way of what can and should be a sensible discussion around cryptos.

I'll put up some links soon that discuss crypto predictions, and some articles on crypto state, flagged as a possibility in the future.

I'll also get up some places you can read about dapps/blockchain if anyone is interested.

I look forward to hearing what everyone is up to in this space, it's utterly fascinating to me.

Thanks again Heatho.
 
In the words of Denzel Washington- explain cryptocurrency to me like I am a five year old.
I have read with interest the Bitcoin Insanity and this thread with great interest.
Is it here to stay and to those of us with a genuine interest can you please give us some direction.
Like a few of us here on the forum we wont have enough money to retire on so a little help would be great.
Thanking you in advance
 
If ya want to dab your toes in the water plus500 works ok,your only betting on price changes though,you dont actually own any while trading,each trade only lasts a few days also but its an easy way to have a punt before getting serious,ive bailed on it now and will look at better options i think.
Wifes poking along ok on bitcoin
Cryptos main problem it faces i think is its being duplicated left right and centre,something like 1400 of them out there now..... :(
 
On a side note I'd like to inform people of the "binance" app it has the most comprehensive graphs so far I've seen and it covers a lot of the alt currencies
 
mardymoose said:
In the words of Denzel Washington- explain cryptocurrency to me like I am a five year old.
I have read with interest the Bitcoin Insanity and this thread with great interest.
Is it here to stay and to those of us with a genuine interest can you please give us some direction.
Like a few of us here on the forum we wont have enough money to retire on so a little help would be great.
Thanking you in advance

[video=480,360]https://www.youtube.com/watch?v=T2zH-T_hmLs[/video]

I first spoke to this chap in 2013. Very interesting guy and really the most eloquent in conveying the whole bitcoin/blockchain/crypto/money idea in laymans terms

Anyone needing to 'understand' this tech needs to watch his vids on Youtube.
 
Well fellow prospectors, may I suggest that we stick to what we know - looking for gold and minerals.

Up front, I do own a bitcoin, I believe, but have no idea how I came across it. Apparently I can cash it in, but I am not giving my bank details to anybody I don't know. But regardless of that, in my other life I was forensic accountant, in retirement I still am. Look I'm 71 yo and I can remember very well the Poseiden share stampede back in the 1969/70's. Many people made millions and many people lost millions. This mining company never had any claim to support the share price. It was/is a nickel company. I believe it still exists somewhere out there in the dust of mining ventures.

What I'm saying is, that in this type of investment, for every dollar you make, somebody else losses that dollar. Where is the asset value to support the share price, or in this case, the bitcoin asset support.

My latest information is that bitcoin will not survive this current year, 2018. Another IT type technology will replace it. Look, the old saying was that a bird in the hand was worth two in the bush, in this case, my Aussie dollars, in my Aussie bank, are something that may be worth something to me.

My friends, I would be very careful about putting your money into these cyber type currencies. Question, what Government supports these type currencies?. At least I know that my Australian Government supports my Aussie dollar, as much as it can in today's crazy financial world. Cheers.
 
Phoenix76 said:
Look I'm 71 yo and I can remember very well the Poseiden share stampede back in the 1969/70's. Many people made millions and many people lost millions. This mining company never had any claim to support the share price. It was/is a nickel company. I believe it still exists somewhere out there in the dust of mining ventures.

Liked your whole post , have picked out the above for comment .

I remember that time well , I was a young bloke on the old Stock Exchange floor back in those days working for ABS White & Co ' stockbrokers
There was mayhem to buy Poseidon & then Tasmanx , the destruction of wealth these two produced is now history .

Gold & Silver for me :)
 

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