Cryptocurrency trading Dudes

Mudball

Mudball

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Are there any forumers doing anything with Cryptocurrencies eg. trading Bitcoins, Ether etc. Anyone made any money yet? I missed out on BTC when it started. I could have paid off my mortgage by now. Doing the mining is impossible now, but checking if anyone buying/selling et al.

NB: Its not for the faint hearted. Only invest what you can afford to lose.
 
I nearly started to invest a year ago, but got talked out of it as we really didn't have the money to lose tbh.
But hindsight is a wonderful thing, sigh.

Weirdest thing I find about bitcoins, is that there is only a finite amount of them, then that's it. Once they've all been mined then there are no more.
You'd have to assume that the value of them can only skyrocket?
 
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I invest in some ICO’s. Usually ones that are geared for a particular field.
Initial coin offerings are risky, can be a scam or Ponzi scheme.
Bit connect was one I read to stay away from now it’s sky rocketed.
So now I just invest a night outs worth of money on ICO’s and hold on to them long term.

the company I work for are looking into block chain technology and developing their own crypto currency as a means of quicker transactions B2B.
 
I've invested in Bitcoin, Bitcoincash, Ethereum and Ripple.

Bitcoincash just rocketed, which is nice so I've made money on all my investments so far.
Annoyingly I missed the boat on Etheruem and Ripple before they rocketed, it took me so long to work out where to buy. I'd have made a pretty penny, that's for sure.

CEX.io is a good website to buy BTC, ETH.
Here's a referral code, if you fancy setting an account up. https://cex.io/r/0/up105756074/0/

If you want to trade other currencies, I would recommend Kraken. It pairs with about 20 of the main currencies.

I would recommend you put money into CEX (it's easier in terms of how it works with your bank account). You can then buy Bitcoin and transfer it to Kraken, if you then want to trade between BTC and other currencies.

Feel free to drop me a private message if you want any other info on how to do this. I don't offer trading advice.
 
Lazkir said:
Weirdest thing I find about bitcoins, is that there is only a finite amount of them, then that's it. Once they've all been mined then there are no more.
You'd have to assume that the value of them can only skyrocket?
Click to expand...

There will only ever be 21 million of them in circulation. Given Bitcoins can be traded to 8 decimal places that is actually a significant amount.
This model can protect against hyperinflation.
If you want to know more there are two good documentaries on Bitcoin.

The Rise and Rise of Bitcoin.
http://www.imdb.com/title/tt2821314/

Banking on Bitcoin:
http://www.imdb.com/title/tt5033790/?ref_=tt_rec_tti


I've not seen this one, so I can't recommend.
http://www.imdb.com/title/tt6467152/?ref_=tt_rec_tti
 
londonlewis said:
I've invested in Bitcoin, Bitcoincash, Ethereum and Ripple.

Bitcoincash just rocketed, which is nice so I've made money on all my investments so far.
Annoyingly I missed the boat on Etheruem and Ripple before they rocketed, it took me so long to work out where to buy. I'd have made a pretty penny, that's for sure.

CEX.io is a good website to buy BTC, ETH.
Here's a referral code, if you fancy setting an account up. https://cex.io/r/0/up105756074/0/

If you want to trade other currencies, I would recommend Kraken. It pairs with about 20 of the main currencies.

I would recommend you put money into CEX (it's easier in terms of how it works with your bank account). You can then buy Bitcoin and transfer it to Kraken, if you then want to trade between BTC and other currencies.

Feel free to drop me a private message if you want any other info on how to do this. I don't offer trading advice.
Click to expand...
PA

Interesting.... I finally got off the fence and started on Coinbase. Put some money into BTC & ETH. BTC tanked about 15% as soon as i put it. Was getting palpitations overnight. However woke up this morning and it is up 5%. So a swing of 20% or so overnight. The annoying bit of Coinbase is that it does not do GBP and needs to go via EUR-SEPA - this means, there is an FX & Fees that add up. Ironic for a currency that is due to reduce the middleman.



Jamesbrown said:
I invest in some ICO’s. Usually ones that are geared for a particular field.
Initial coin offerings are risky, can be a scam or Ponzi scheme.
Bit connect was one I read to stay away from now it’s sky rocketed.
So now I just invest a night outs worth of money on ICO’s and hold on to them long term.

the company I work for are looking into block chain technology and developing their own crypto currency as a means of quicker transactions B2B.
Click to expand...

ICO seems to a bit of a ponzi one. Just got back from an industry conference in Barcelona and Blockchains (not cryptos) were pretty hot. While the noise is there, the use case for blockchain is not very strong at the moment. But there are few good use cases on use of blockchains emerging. Very early days
 
Mudball said:
PA

Interesting.... I finally got off the fence and started on Coinbase. Put some money into BTC & ETH. BTC tanked about 15% as soon as i put it. Was getting palpitations overnight. However woke up this morning and it is up 5%. So a swing of 20% or so overnight. The annoying bit of Coinbase is that it does not do GBP and needs to go via EUR-SEPA - this means, there is an FX & Fees that add up. Ironic for a currency that is due to reduce the middleman.
Click to expand...

The best advice I can give you; don't panic. The volatility of Alt-coins is ridiculous. If you panic, you are pretty much going to lose money.
Second piece of advice; don't invest what you can not afford to lose.
 
Mudball said:
While the noise is there, the use case for blockchain is not very strong at the moment. But there are few good use cases on use of blockchains emerging. Very early days
Click to expand...

I'm hearing it a lot at the moment. Some of my clients are going to Blockchain seminars.
Seems to revolve around contracts management as far as I can tell so far.
Can you share any other ideas around what people might use the Blockchain for?
 
I have been involved with crypto currencies for a few years


Everyone I speak to about croyptos tells me they would be a millionaire/paid of mortgage etc if they had only got in and bought bitcoin when they first heard of it...

Always makes me chuckle as someone who watches the market. If you got in at the start (which very very few did) you would have more than certainly got out well before bitcoin ever reached today's price.

You also had a chance of losing lot of your coins to hacks and sites going bust. It is a shady industry.



In saying all this, a lot of people have got rich... and a lot will make a fortune
 
londonlewis said:
I'm hearing it a lot at the moment. Some of my clients are going to Blockchain seminars.
Seems to revolve around contracts management as far as I can tell so far.
Can you share any other ideas around what people might use the Blockchain for?
Click to expand...

Can do.. PM me your details, will share what I can
 
londonlewis said:
I'm hearing it a lot at the moment. Some of my clients are going to Blockchain seminars.
Seems to revolve around contracts management as far as I can tell so far.
Can you share any other ideas around what people might use the Blockchain for?
Click to expand...

Londonlewis.... no connect from you.. did you get the material i sent thru? useful?
 
Mudball said:
Good to see it was helpful.... my minor-minor BTC holding up 10%... Impact of SegWit2 needs to be seen tonight...
Click to expand...

I read that governments may be considering using Bitcoin instead of gold to back their currencies. Not good news for those that wanted to consider Bitcoin being adopted as an actual currency.
 
londonlewis said:
I read that governments may be considering using Bitcoin instead of gold to back their currencies. Not good news for those that wanted to consider Bitcoin being adopted as an actual currency.
Click to expand...

IMO if they cant fork or increase block size then BTC will either become the soverign collectors item or will become inconsequential - nothing in between. Due to its volatility, I doubt governments will use it to back currency. Or maybe we should use it post-Brexit to back the pound - who needs gold.

The other interesting use case is where 60 Japanese Banks have created a consortium to use blockchains for payments.
https://www.krungsrifinnovate.com/e...n-bank-consortium-plan-to-use-blockchain.html
https://ripple.com/insights/sumitom...t-bank-join-sbi-ripple-asias-bank-consortium/
 
Mudball said:
IMO if they cant fork or increase block size then BTC will either become the soverign collectors item or will become inconsequential - nothing in between. Due to its volatility, I doubt governments will use it to back currency. Or maybe we should use it post-Brexit to back the pound - who needs gold.

The other interesting use case is where 60 Japanese Banks have created a consortium to use blockchains for payments.
https://www.krungsrifinnovate.com/e...n-bank-consortium-plan-to-use-blockchain.html
https://ripple.com/insights/sumitom...t-bank-join-sbi-ripple-asias-bank-consortium/
Click to expand...

Ripple was set up by JP Morgan, Standard Chartered, Accenture and others ... can't remember the full list.
Not a surprise they want to start using it for all their transactions. Just hope the market space is big enough for it to multiply by a big factor as I'm sitting on some.
 
londonlewis said:
Ripple was set up by JP Morgan, Standard Chartered, Accenture and others ... can't remember the full list.
Not a surprise they want to start using it for all their transactions. Just hope the market space is big enough for it to multiply by a big factor as I'm sitting on some.
Click to expand...

The key (and frustrating) is trying to figure out which horse to back... some will disappear while others will emerge.. ETH, BTC Cash, Ripple.....
 
Been into cryptos on Coinbase for about 2 weeks or so. My initial investment was generally up 20-25%. That is nearly impossible with what you get from the Banks or stock markets but given the transaction fee from GBP or EUR into cryptos it is ridiculously difficult to make money on this!!.
 
Mudball said:
Been into cryptos on Coinbase for about 2 weeks or so. My initial investment was generally up 20-25%. That is nearly impossible with what you get from the Banks or stock markets but given the transaction fee from GBP or EUR into cryptos it is ridiculously difficult to make money on this!!.
Click to expand...

They go in waves in terms of spikes or troughs.
Most of the notable coins have jumped over the last couple of weeks. They are now all stagnant.

Ones to consider;
Bitcoin
Bitcoincash
Ethereum
Dash
Litecoin
Ripple
Monero
Zcash
Powerledger - this one is interesting. From the limited info I've read; Australian government has backed it and awarded it some good funding & projects to work on for using it in public spending. On the back of this it has risen 131% in 7 days.
 
londonlewis said:
They go in waves in terms of spikes or troughs.
Most of the notable coins have jumped over the last couple of weeks. They are now all stagnant.

Ones to consider;
Bitcoin
Bitcoincash
Ethereum
Dash
Litecoin
Ripple
Monero
Zcash
Powerledger - this one is interesting. From the limited info I've read; Australian government has backed it and awarded it some good funding & projects to work on for using it in public spending. On the back of this it has risen 131% in 7 days.
Click to expand...

The challenge is not the trading or choosing the altcoin.. the challenge is the amount of money that is used up in fees from the likes of Coinbase if you want to buy in GBP. UK Banks are a ripoff as you cant move to GBP to alt directly. You can only go via USD or EUR and the transfer fees are manic. While I love coinbase, I m planning to skip it and trade directly on Gdax or bitfinex. The biggest hurdle is to transfer from GBP to Alt & back.
 
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