Danger-Mouse Posted October 14, 2017 Report Share Posted October 14, 2017 This might prove interesting to some people. https://coincentral.com/bitcoin101/ The guy behind the site is a poker player and entrepeneur. Quote Link to comment Share on other sites More sharing options...
markm Posted October 14, 2017 Report Share Posted October 14, 2017 Wallet on gatehub.com Bought the currency on cryptomate.co.uk Ive got £100 floating about a old bank account. I might have a dabble. Why these two? Quote Link to comment Share on other sites More sharing options...
spandit Posted October 14, 2017 Report Share Posted October 14, 2017 Ive got £100 floating about a old bank account. I might have a dabble. Why these two? Gatehub is recommended by Ripple and one of the few that holds XRP. The other was found via Google as one of the few sites that can take GBP Quote Link to comment Share on other sites More sharing options...
Muddy Funker Posted October 15, 2017 Report Share Posted October 15, 2017 Wallet on gatehub.com Bought the currency on cryptomate.co.uk Thanks for the reply, I'll look into it. Quote Link to comment Share on other sites More sharing options...
spandit Posted October 15, 2017 Report Share Posted October 15, 2017 Not really sure what to do with them now I have some. Just hope they go up astronomically or actually become accepted somewhere offline! Quote Link to comment Share on other sites More sharing options...
7daysinaweek Posted October 15, 2017 Report Share Posted October 15, 2017 Not really sure what to do with them now I have some. Just hope they go up astronomically or actually become accepted somewhere offline! Hi Spandit you have a few options you can either sell them on a trading crypo currency platform such as kraken, poloniex,etoro among a few others.I use poloniex, i sell them and convert them into bitcoin at the time of the transaction, i then send them to my coinbase account and sell them directly from there, they are converted into euros which does a sepa payment into my bank account into GBP. 1) SELL ON POLONIEX CONVERT INTO BITCOIN 2) SEND TO COINBASE ACCOUNT AND SELL ON COINBASE 3) WHEN YOU SELL ON CB IT IS CONVERTED INTO EUROS AND SEPA PAYMENT IS MADE TO YOUR ENGLISH BANK ACCOUNT IN GBP. All i can say is that i have not experienced any problems with the platform i used however i would advise you to undertake your own due diligence and i am not making a recommendation and was showing you the process. I have put a link to youtube video on how to sell on poloniex also a link how to sell on gatehub, i have never used gatehub so you will have to check it out, the posters say you can sell directly from gatehub and into gbp into your account. https://www.reddit.com/r/Ripple/comments/6i774u/how_to_exchange_xrp_into_cash/ You will have to set up an account for making and withdrawing payments, virtually all platforms convert your sold currency into bitcoin and then you sell the bitcoin as is the most traded and this is then sold for euros or gdp depending on the platform. Look on youtube and reddit, loads of videos about gatehub on there. Sounds like a faff but once you have everything set up and get used to the process it becomes easier. My strong advice would be to sell a pounds worth and complete the whole transaction through to it going into your bank account to make sure it all goes smoothly. I am holding all of my xrp long term, look up ripple news to give you a better understanding of what you hold. Some people day trade there currencies others hold for the longer term. atb 7diaw Quote Link to comment Share on other sites More sharing options...
FairImogen Posted October 17, 2017 Report Share Posted October 17, 2017 Don’t wish to fuel any conspiracy fires, but any currency that isn’t a physical entity can be turned off. Quote Link to comment Share on other sites More sharing options...
Danger-Mouse Posted October 17, 2017 Report Share Posted October 17, 2017 Seems to be quite a volatile market, at least for Etherium. Price on the day I posted was $343, a day later it was $329 and now it's at $322. I guess it might be worth watching to see where it bottoms out. Quote Link to comment Share on other sites More sharing options...
AVB Posted October 17, 2017 Report Share Posted October 17, 2017 Seems to be quite a volatile market, at least for Etherium. Price on the day I posted was $343, a day later it was $329 and now it's at $322. I guess it might be worth watching to see where it bottoms out. How do you know when it is at the bottom? Quote Link to comment Share on other sites More sharing options...
Danger-Mouse Posted October 17, 2017 Report Share Posted October 17, 2017 How do you know when it is at the bottom? You don't but I guess that's why a lot of poker players dabble in this market and are often compared to stock/currency traders, indeed there are a number of traders and hedge fund managers who also like to play high stakes poker ("Silent" Mike Baxter immediately leaps to my mind). I would guess that if the price drops below $300 then you're getting good odds on turning a longish term profit, if it drops to $250 then you're on to a surefire thing. From what little I know it's a fairly stable crytocurrency and should rise again in the future. But that's pure "feel" based on it's previous high and comparing it to Bitcoin. For all I know by next week it could be at $10 but given how well Bitcoin has done over the last few years I'd be inclined to say Etherium will see an increase again at some time in the future. I guess it depends on whether you want to gamble on a shortish term profit or risk playing the longer game and just maybe seeing a huge ROI.. There are people out there who paid $100 or less for Bitcoin and now it's worth over $5k. Who knows but maybe investing $1k @ $250 per Etherium could be worth $20k in a few years. Alternatively it could be worth nothing in the same time frame. We're in that goldrush era for crypto currencies atm, gamble correctly and you could be made for life. But like any gamble you shouldn't bet more than you can afford to lose. If I knew 10-15 years ago what I know now, I could have made a small fortune playing poker. The same could well apply to the crytocurrency market. Quote Link to comment Share on other sites More sharing options...
spandit Posted October 17, 2017 Report Share Posted October 17, 2017 Dont wish to fuel any conspiracy fires, but any currency that isnt a physical entity can be turned off. But paper (or plastic!) banknotes can't, you mean? They're just a promise to pay the bearer. The underlying currency is not based on anything since we got rid of the gold standard. My Ripple investment is currently worth 80% of what I paid for it. Yesterday I could have sold it for a small profit. Like all trading it's a gamble and I'm not going to bet my house on it and I doubt it will make me rich but being an early adopter could pay dividends as those who bought Bitcoin cheap have found out. Quote Link to comment Share on other sites More sharing options...
Flashman Posted October 18, 2017 Report Share Posted October 18, 2017 None of this sounds like an investment that should be made by a typical (retail) investor. The FCA are reviewing the position of ICOs in any case and you may find that regulation stops this sort of investing being available to retail investors in the near future. "Normal" currency is underwritten by governments and investors take a view on sovereign risk. To compare cryto currencies to Sterling and other AAA/AA-rated countries is laughable. However, as long as an investor understands the risks and is prepared to lose his entire investment, then they can speculate to their heart's comtent. Quote Link to comment Share on other sites More sharing options...
spandit Posted October 18, 2017 Report Share Posted October 18, 2017 Part of the attraction of these currencies is that they're not underwritten/controlled by governments. It's an interesting concept and I don't think they'll be going away just yet. If you compare them not to a currency but to a payment/transfer system, such as PayPal, they can make more sense but as you say, like any gamble, don't put up what you can't afford to lose. My £50 was briefly worth more than I paid but is currently worth just under £40. Somebody will be making a killing, I'm sure Quote Link to comment Share on other sites More sharing options...
evolution380 Posted October 18, 2017 Report Share Posted October 18, 2017 (edited) Wouldn't want serious money invested in Crypto-Currencies now myself. Great for those in early or mining but very very risky for those looking to jump in now in my opinion especially at their current prices. Crypto-currencies are scarily volatile, in April of this year against USD bitcoin was @ 1000 with a recent high of almost 6000 (so it 6 bagged for some people within 6 months which would be Great). It's since slumped against the USD and is down to circa 5200 which I do believe will continue to drop below 4000 against the USD before December. I firmly believe because of all these strike it rich, miracle stories, it's very easy to hook people in especially with all of the NON REGULATED media exposure crypto-currencies sporadically get. It seems to just be a constant wave of pumping and dumping and manipulating the worth of crypto-currencies. With the success stories of Bitcoin and numerous other 'cheaper' crypto-currencies available to invest in I can see why people would chuck a few hundred quid into them as a gamble for the future but for me that's all crypto-currencies are with all of the unknowns rather than an educated investment you'd consider putting a good portion of your savings into. More and more Legislation / Acts from dozens of nations will be implemented over the coming months/years which I imagine is going to negatively impact crypto-currencies as they become increasingly monitored and regulated by the government to reduce their involvement in illegal activities / money laundering. Great for market-makers and the brokerage firms mind who will make themselves a pretty penny on a daily basis. Edited October 18, 2017 by evolution380 Quote Link to comment Share on other sites More sharing options...
DanBettin Posted October 19, 2017 Report Share Posted October 19, 2017 Just googled it....way beyond my tiny brain https://unwttng.com/what-is-a-blockchain Quite a nice explanation of what blockchains are if you're interested in learning more. Quote Link to comment Share on other sites More sharing options...
spandit Posted October 28, 2017 Report Share Posted October 28, 2017 (edited) XRP fluctuated wildly until I bought some. They've been steady since at 70% of what I paid for them :( Edited October 28, 2017 by spandit Quote Link to comment Share on other sites More sharing options...
evolution380 Posted October 29, 2017 Report Share Posted October 29, 2017 (edited) I've been day trading some over the weekend, not for the faint hearted thats for sure especially when leveraged very very volatile. It's not something i'll make a habit of. Bitcoin cash for instance is 23% up today alone... Spandit if you only invested a couple hundred quid i'd just forget about them, it's not a massive loss in the scheme of things and it doesn't take much for these to jump in price for practically no reason whatsoever. Edited October 29, 2017 by evolution380 Quote Link to comment Share on other sites More sharing options...
spandit Posted October 29, 2017 Report Share Posted October 29, 2017 I only invested £50 so not too heartbroken... Quote Link to comment Share on other sites More sharing options...
7daysinaweek Posted October 29, 2017 Report Share Posted October 29, 2017 Spandit as evo says keep hold of them in yer wallet, as i have said i earlier posts xrp may be one of the more promising cryptos in the future outside of all the other carp cryptos. Good on yer evo, bitcoin cash was created from a previous bitcoin hardfork, bitcoin has again last week had a significant hard fork which in turn has created bitcoin gold. I am waiting with baited breath as this week as there is a strong prospect that the open source algorithm of bitcoin gold will be available. I am going to switch my mining rig from mining ethereum to bitcoin gold and see what gains are like. I currently buying and selling several cryptos on a daily/weekly basis on poloniex, some make gains within minutes or hours, some can take days, weeks. i buy low and sell on for profit and convert a percentage of it to bitcoin at the end of every month and transfer it to my bitcoin wallet to keep it growing. Have had a few drop quite a bit and just have waited for the market to increase and sold out at a profit be it sometimes small but sometimes very large. Have been fortunate and only a couple i have bought at a small cost have not regained at present and i will sit on them. As always they go up they go down and i only risk what i am comfortable with. All good atb 7diaw Quote Link to comment Share on other sites More sharing options...
hawkfanz Posted October 29, 2017 Report Share Posted October 29, 2017 i think i will stick with these at least they are real, Quote Link to comment Share on other sites More sharing options...
7daysinaweek Posted October 30, 2017 Report Share Posted October 30, 2017 very nice crowns hf, bet they could tell some tales! Quote Link to comment Share on other sites More sharing options...
evolution380 Posted November 23, 2017 Report Share Posted November 23, 2017 (edited) This topic peeked my interest so I decided to get involved in a way I felt comfortable. I'm not clued up enough to invest my savings into this but thought I'd dabble with the CFD/day trading side of investment regarding cryptocurrency, which meant I could chuck a few hundred quid of disposable income into it. Also It's great as I find myself missing the stock market during the weekend (when I have more available time) but this allows me to trade and give it a lot more attention. (I usually trade penny shares on AIM) ANYWAY I set up an account with OTN as I noticed trades were actually a method of 'mining' something I could do without having to invest in a super computer, I just traded from my phone. OTN was literally pennies a few weeks ago so mining them was easy, each week they release an allotment of OTN tokens to investors using their platform based on how much they invested. (They still are releasing them but due to value i believe will already be harder to mine). I managed to mine a few hundred OTN tokens each week initially however due to my work load have struggled to trade on it recently. Looked back into it yesterday and the tokens previously worth pennies shot up in value to $50 then slumped but are back up to about $22 I have quite a few in my account but no crypto wallet, so I guess I'll leave them and see what happens for now, probably lose all value but who knows! I guess this has given me some faith in crypto currency, I read a story of a guy who bought a lambo with bitcoin the other day i think it was worth $200,000 dollars and he paid with part of his bitcoin stash which originally cost him $150. Amazon are looking to try and accept crypto currency as payment, if this happens I can see how the price would Boom again. Bitcoin up yet again well over $8000 it was around $6500 when I last commented on this topic. Edited November 23, 2017 by evolution380 Quote Link to comment Share on other sites More sharing options...
SxS Posted November 23, 2017 Report Share Posted November 23, 2017 Amazon have their fingers into all sorts of payment pies... but even with their weight behind it Bitcoin won't be going mainstream due to the max block size, which has the effect of limiting BTC to max 7 transactions per second (but in reality just 3 or 4) across the network (compare that to PayPal at ~200+tps, or Visa at over 4000tps with a claimed test based estimate of more than 56,000tps...) and an average transaction time measurable in minutes. I reckon that, in the medium term, innovative use of blockchain technologies will turn out to be more interesting/lucrative than the currencies themselves. Quote Link to comment Share on other sites More sharing options...
elgreco Posted November 28, 2017 Report Share Posted November 28, 2017 Looks like Bitcoin is going to break through $10,000 soon Wow! who would have thought it possible? The Emperors new clothes springs to mind. Quote Link to comment Share on other sites More sharing options...
RockySpears Posted November 28, 2017 Report Share Posted November 28, 2017 Each coin mined, makes the next one harder to mine (more maths to do, so more computing power needed). Currently it is estimated that 0.13% of the worlds power is used to mine Bitcoin. This is a 29% increase on the power needed a month ago, By February 2020, BItCoin miners will consume ALL the worlds power. https://powercompare.co.uk/bitcoin/ Go figure, RS Quote Link to comment Share on other sites More sharing options...
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