Bitcoin holders being spooked by ICOs and token coins

Bitcoin can not be stopped.

The problem today is that many new bitcoin investors do not understand what they are investing in.

ICO's initial coin offerings are nothing to do with bitcoin. The ICO operatives are exploiting the blockchain technology and the regulators... amazingly China were first off the mark ... will want to put a stop to it. It will and can easily be stopped .... unlike bitcoin.

Instead of issuing shares which are heavily regulated ICO ventures are taking investors real government currency and issuing them with probably useless tokens in exchange.
The point is that because these token coins are not bitcoin ........ the investors will and do expect these ICO cowboys to be regulated.

This is the bad side of blockchain technology!!!!:biggrin:

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Originally Posted by AlwaysAway2

Bitcoin can not be stopped.

The problem today is that many new bitcoin investors do not understand what they are investing in.

ICO's initial coin offerings are nothing to do with bitcoin. The ICO operatives are exploiting the blockchain technology and the regulators... amazingly China were first off the mark ... will want to put a stop to it. It will and can easily be stopped .... unlike bitcoin.

Instead of issuing shares which are heavily regulated ICO ventures are taking investors real government currency and issuing them with probably useless tokens in exchange.
The point is that because these token coins are not bitcoin ........ the investors will and do expect these ICO cowboys to be regulated.

This is the bad side of blockchain technology!!!!:biggrin:

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Can we have that translated into English ffs ?

https://www.theguardian.com/technolo...y-drug-dealers

South Sea Bubble, 300 years on!

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Originally Posted by NYCBlue

https://www.theguardian.com/technolo...y-drug-dealers

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I will stick my neck out here. Dimon just does not understand Bitcoin.
He was badmouthing it two years ago but it is up 900% even today since his last comments.
He is banker ...he has more reason to hate it than most.:hehe:

The really interesting comment is that his daughter bought it and she thinks she is a genius.
His daughter did not preside over the TOTAL collapse of the Western banking system . Dimon her OLD father did only to be bailed out by US the public.
He can stick his opinion up his jacksy.

Get some crypto with money you can afford to lose....if you can.:thumbup:

I tell you what. Let's see what Bitcoin £2,973 and Litecoin £47 are trading at at Xmas.

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Originally Posted by Des Parrot

South Sea Bubble, 300 years on!

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Des.
I can assure you this is no bubble.
It will rise and fall but never ever disappear unless the Cryptography is hacked.
I don't believe it can be hacked hence my total confidence.

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Originally Posted by BlueWales

Can we have that translated into English ffs ?

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Still waiting !

There's been a welter of anti-Bitcoin/cryptocurrency sentiment being pushed by the establishment these past few days. This one's the most hysterical and fake - https://www.bloomberg.com/news/artic...ising-tensions

I gave up on trying to buy any crypto some months back, and instead will continue to invest in what's been money for 2,500 years.

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Originally Posted by Organ Morgan.

There's been a welter of anti-Bitcoin/cryptocurrency sentiment being pushed by the establishment these past few days. This one's the most hysterical and fake - https://www.bloomberg.com/news/artic...ising-tensions

I gave up on trying to buy any crypto some months back, and instead will continue to invest in what's been money for 2,500 years.

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That's a good find OM

My response to the article is that anyone that purchases Cryptocurrency on an exchange and doesn't immediately move their Bitcoin litecoin or whatever away from the exchange into a (preferably offline cold) private wallet is an idiot.

Rules for Bitcoin or Litecoin investment

Get a private wallet.
Record in manuscript the access secret keys so a new wallet can be created if you lose your original wallet. Protect the secret keys. I have told my adult children the two locations they can be found. I trust them.
If I die they can access them.

Buy Cryptocurrency on an exchange.

Transfer your Cryptocurrency to your private wallet where they are under your and only your control.

Not difficult.

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Originally Posted by AlwaysAway2

That's a good find OM

My response to the article is that anyone that purchases Cryptocurrency on an exchange and doesn't immediately move their Bitcoin litecoin or whatever away from the exchange into a (preferably offline cold) private wallet is an idiot.

Rules for Bitcoin or Litecoin investment

Get a private wallet.
Record in manuscript the access secret keys so a new wallet can be created if you lose your original wallet. Protect the secret keys. I have told my adult children the two locations they can be found. I trust them.
If I die they can access them.

Buy Cryptocurrency on an exchange.

Transfer your Cryptocurrency to your private wallet where they are under your and only your control.

Not difficult.

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How are you buying?? Most of the exchanges that i have checked will currently only accept immediate deposits with a few % fee on top, rather than free bank transfers.

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Originally Posted by stevebrickman

How are you buying?? Most of the exchanges that i have checked will currently only accept immediate deposits with a few % fee on top, rather than free bank transfers.

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I am now using Coinbase to buy using my credit card.
It is easy you simply scan your passport or other ID document and provide a credit card details to use to buy.
If you sell cryptocurrency it goes into a Sterling or Euro wallet again with Coinbase.
When you first want to withdraw money they make you go through some hoops because of money laundering regs.
that said I am accumulating a modest holding of crypto as i want skin in the game for the long haul.
As soon as I have bought i transfer my cryptocurrency...Bitcoin...Litecoin away from Coinbase into a private wallet Bread wallet (Bitcoin) Loaf wallet (Litecoin) on my iPhone.
When I have say £500 worth of Crypto I get my Trezor out and move the Crypto offline to my cold wallet.

Im not an "early adopter" on any form of technology. Takes me a while to get my head around things but I cant honestly ever see me understanding this stuff or getting involved. Im not sure if that makes me a bit thick, prudent or a luddite. I just dont understand the whole concept. Good luck to those of you who are dabbling in it though

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Originally Posted by El Gwapo

Im not an "early adopter" on any form of technology. Takes me a while to get my head around things but I cant honestly ever see me understanding this stuff or getting involved. Im not sure if that makes me a bit thick, prudent or a luddite. I just dont understand the whole concept. Good luck to those of you who are dabbling in it though

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If you are not interested in it enough to watch You Tube explanatory videos and read "Mastering Bitcoin" by Andreas Antonopoulos you should probably not get involved.
That said if you can meet and talk with someone that knows what they are doing it does help hugely!

It interests me in the sense i want to understand it, it frustrates me that I don't but i sense a superficial understanding is dangerous

Crock of shit , buy snake oil instead

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Originally Posted by Rocco Siffredi

Crock of shit , buy snake oil instead

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is that an informed opinion or based on assumption and ignorance?

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Originally Posted by AlwaysAway2

I am now using Coinbase to buy using my credit card.
It is easy you simply scan your passport or other ID document and provide a credit card details to use to buy.
If you sell cryptocurrency it goes into a Sterling or Euro wallet again with Coinbase.
When you first want to withdraw money they make you go through some hoops because of money laundering regs.
that said I am accumulating a modest holding of crypto as i want skin in the game for the long haul.
As soon as I have bought i transfer my cryptocurrency...Bitcoin...Litecoin away from Coinbase into a private wallet Bread wallet (Bitcoin) Loaf wallet (Litecoin) on my iPhone.
When I have say £500 worth of Crypto I get my Trezor out and move the Crypto offline to my cold wallet.

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I used Coinbase to buy a wodge of etherium a few months ago. It cost me over £20 in fees just to make that deposit, which feels expensive.... if you have a US dollar bank account you can bank transfer for free. I can't find any exchanges that do this for sterling currently...

I have used kraken and bittrix to buy some alt coins. I'm investing relatively small amounts as a ultra high risk investment... won't lose any sleep if I lose it.

What I don't like is how the currency (regardless of it being bitcoin or any of the alt coins) 'erodes'.. you pay small fees every time you move it between exchanges... a fee to withdraw from Coinbase, a fee to receive at kraken, then another transaction fee to convert the currency, and a final fee to with draw again...

Fees fees fees. They add up...

I'm really not convinced any of them will go mainstream. Hard for people to understand the mechanics, and it's just so difficult and time consuming to actually get involved.

Quote:

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Originally Posted by AlwaysAway2

I will stick my neck out here. Dimon just does not understand Bitcoin.
He was badmouthing it two years ago but it is up 900% even today since his last comments.
He is banker ...he has more reason to hate it than most.:hehe:

The really interesting comment is that his daughter bought it and she thinks she is a genius.
His daughter did not preside over the TOTAL collapse of the Western banking system . Dimon her OLD father did only to be bailed out by US the public.
He can stick his opinion up his jacksy.

Get some crypto with money you can afford to lose....if you can.:thumbup:

I tell you what. Let's see what Bitcoin £2,973 and Litecoin £47 are trading at at Xmas.

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https://i.imgur.com/520YTUs.jpg

Quote:

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Originally Posted by AlwaysAway2

I am now using Coinbase to buy using my credit card.
It is easy you simply scan your passport or other ID document and provide a credit card details to use to buy.
If you sell cryptocurrency it goes into a Sterling or Euro wallet again with Coinbase.
When you first want to withdraw money they make you go through some hoops because of money laundering regs.
that said I am accumulating a modest holding of crypto as i want skin in the game for the long haul.
As soon as I have bought i transfer my cryptocurrency...Bitcoin...Litecoin away from Coinbase into a private wallet Bread wallet (Bitcoin) Loaf wallet (Litecoin) on my iPhone.
When I have say £500 worth of Crypto I get my Trezor out and move the Crypto offline to my cold wallet.

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Do yourself a favour, when buying or selling Bitcoin, Ethereum or Litecoin, don't use Coinbase, the fees are too high, use GDAX instead. GDAX is actually owned by Coinbase and you just use the same user information and password that you use for your Coinbase account ... just go to www.gdax.com and log in as you would on Coinbase. You can transfer your cryptocurrency or flat currency instantly and free of charge.

Now here's the reason why you should use GDAX instead: - the cheapest fee on Coinbase is 1.5% (buying/selling), while on GDAX it's 0.3%. However, the great thing about GDAX is that you can buy and sell WITHOUT ANY fees! You just use a limit order instead of a market order and it doesn't matter if you sold a million pounds worth of cryptocurrency with a limit order ... there will be no fee.

The GDAX exchange is not as newbie-friendly as Coinbase but you'll soon get the hang of it and it has some great tools which Coinbase doesn't have.

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Originally Posted by El Gwapo

is that an informed opinion or based on assumption and ignorance?

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Informed from a police computer expert . That's good enough for me ,

If you can't spend down the pub, its not worth having.

All the leading cryptos have been monkey hammered today. Bitcoin's down 15%, Ethereum 17%, Ripple 14% and Litecoin 25%. It's a buy the dip opportunity for some, abandon ship for others.

Live prices here: https://coincap.io/

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Originally Posted by Organ Morgan.

All the leading cryptos have been monkey hammered today. Bitcoin's down 15%, Ethereum 17%, Ripple 14% and Litecoin 25%. It's a buy the dip opportunity for some, abandon ship for others.

Live prices here: https://coincap.io/

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This large correction was needed and can be explained.

People wanting to invest in ICOs not Bitcoin or Litecoin had to buy Cryptocurrencies ... Bitcoin or Litecoin to invest so over the last two months the buying has been to invest in ICOs.

Now they have invested in the ICOs the ICO venture capitalists have been selling the Crypto to get Fiat currency. In return the investors have received USELESS tokens.

A fool and his money.

Long term Cryptoholders have nothing to worry about.

Calling the bottom is tricky...we might nearly be there...but Bitcoin as low as £1,500 is possible I think.

Investors on margin (leveraged) will have been wiped out. Greedy bastards.:hehe:

http://www.bbc.co.uk/news/magazine-40728550 :biggrin: