Bitcoins and Other Crypto-currencies

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No:1 Final Fantasy Fan
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PostRe: Bitcoins and Other Crypto-currencies
by No:1 Final Fantasy Fan » Mon Dec 11, 2017 11:37 pm

pjbetman wrote:
satriales wrote:I paid £500 for a bitcoin at the start of the week. After a couple of wasted days where I left it while I created accounts at exchanges and synced my wallet, I then swapped it for 50 litecoins two days ago.

At current prices my investment is now worth $2500! :)

Edit: I also use my server at work to mine them but as it has no gpu I only have half a litecoin from that so far.


How's those Litecoins now? Heading towards £200 each, that's where!

I just bought 2.99 lite coins for £500! wish I bought them when they were £33 each a few weeks ago.
Will hold for a few weeks and see what happens

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Karl
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PostRe: Bitcoins and Other Crypto-currencies
by Karl » Tue Dec 12, 2017 12:11 am

:dread:

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Rightey
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PostRe: Bitcoins and Other Crypto-currencies
by Rightey » Tue Dec 12, 2017 1:07 am

Don't worry Karl, we'll still invite you to our yachts when we become bitcoin millionaires. 8-)

*I have still yet to actually buy any crypto currency because I havn't been able to get my butt to an atm and I refuse to do business with these ultra shady exchanges.

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satriales
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PostRe: Bitcoins and Other Crypto-currencies
by satriales » Tue Dec 12, 2017 5:42 am

pjbetman wrote:
satriales wrote:I paid £500 for a bitcoin at the start of the week. After a couple of wasted days where I left it while I created accounts at exchanges and synced my wallet, I then swapped it for 50 litecoins two days ago.

At current prices my investment is now worth $2500! :)

Edit: I also use my server at work to mine them but as it has no gpu I only have half a litecoin from that so far.


How's those Litecoins now? Heading towards £200 each, that's where!


At one point I had over 100 Litecoins, which would have been nice if it was simply a case of press withdraw and the cash goes into your bank account, but in reality getting the money back out is much more difficult. Also, the stress of seeing your investment constantly going up and down every other day, I'm okay with cashing out a few years ago.

The higher prices now just mean people are going to lose more the next time it crashes.

I got more enjoyment out of mining some smaller cryptocurrencies and hoping they hit big. If Fedoracoin ever costs $1 each then I become millionaire :)

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No:1 Final Fantasy Fan
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PostRe: Bitcoins and Other Crypto-currencies
by No:1 Final Fantasy Fan » Tue Dec 12, 2017 3:11 pm

My £500 of litecoin are currently worth close to £900 :)

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Return_of_the_STAR
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PostRe: Bitcoins and Other Crypto-currencies
by Return_of_the_STAR » Tue Dec 12, 2017 5:35 pm

satriales wrote:
pjbetman wrote:
satriales wrote:I paid £500 for a bitcoin at the start of the week. After a couple of wasted days where I left it while I created accounts at exchanges and synced my wallet, I then swapped it for 50 litecoins two days ago.

At current prices my investment is now worth $2500! :)

Edit: I also use my server at work to mine them but as it has no gpu I only have half a litecoin from that so far.


How's those Litecoins now? Heading towards £200 each, that's where!


At one point I had over 100 Litecoins, which would have been nice if it was simply a case of press withdraw and the cash goes into your bank account, but in reality getting the money back out is much more difficult. Also, the stress of seeing your investment constantly going up and down every other day, I'm okay with cashing out a few years ago.

The higher prices now just mean people are going to lose more the next time it crashes.

I got more enjoyment out of mining some smaller cryptocurrencies and hoping they hit big. If Fedoracoin ever costs $1 each then I become millionaire :)


Why is it much more difficult to get your money back out?

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satriales
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PostRe: Bitcoins and Other Crypto-currencies
by satriales » Tue Dec 12, 2017 6:06 pm

Return_of_the_STAR wrote:
satriales wrote:
pjbetman wrote:
satriales wrote:I paid £500 for a bitcoin at the start of the week. After a couple of wasted days where I left it while I created accounts at exchanges and synced my wallet, I then swapped it for 50 litecoins two days ago.

At current prices my investment is now worth $2500! :)

Edit: I also use my server at work to mine them but as it has no gpu I only have half a litecoin from that so far.


How's those Litecoins now? Heading towards £200 each, that's where!


At one point I had over 100 Litecoins, which would have been nice if it was simply a case of press withdraw and the cash goes into your bank account, but in reality getting the money back out is much more difficult. Also, the stress of seeing your investment constantly going up and down every other day, I'm okay with cashing out a few years ago.

The higher prices now just mean people are going to lose more the next time it crashes.

I got more enjoyment out of mining some smaller cryptocurrencies and hoping they hit big. If Fedoracoin ever costs $1 each then I become millionaire :)


Why is it much more difficult to get your money back out?

It might be different now but the easiest way for me at the time was through some eBay type of site. You'd find someone to make a trade and then they do a bank transfer and then you'd send Bitcoins. Lots of trust involved.

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PostRe: Bitcoins and Other Crypto-currencies
by Rightey » Tue Dec 12, 2017 6:21 pm

satriales wrote:
Return_of_the_STAR wrote:
satriales wrote:
pjbetman wrote:
satriales wrote:I paid £500 for a bitcoin at the start of the week. After a couple of wasted days where I left it while I created accounts at exchanges and synced my wallet, I then swapped it for 50 litecoins two days ago.

At current prices my investment is now worth $2500! :)

Edit: I also use my server at work to mine them but as it has no gpu I only have half a litecoin from that so far.


How's those Litecoins now? Heading towards £200 each, that's where!


At one point I had over 100 Litecoins, which would have been nice if it was simply a case of press withdraw and the cash goes into your bank account, but in reality getting the money back out is much more difficult. Also, the stress of seeing your investment constantly going up and down every other day, I'm okay with cashing out a few years ago.

The higher prices now just mean people are going to lose more the next time it crashes.

I got more enjoyment out of mining some smaller cryptocurrencies and hoping they hit big. If Fedoracoin ever costs $1 each then I become millionaire :)


Why is it much more difficult to get your money back out?

It might be different now but the easiest way for me at the time was through some eBay type of site. You'd find someone to make a trade and then they do a bank transfer and then you'd send Bitcoins. Lots of trust involved.


Lot's of places also have limits as to how much you can cash out at any given day, so if you have millions in bitcoins it can be hard to transfer them into real money if you can only transfer $1000 per day or something.

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PostRe: Bitcoins and Other Crypto-currencies
by Slayerx » Tue Dec 12, 2017 6:45 pm

Are most people using Coin Base?

Got some Bitcoin and ETH yesterday wish I'd got some LTC after seeing nearly 100% gains today!

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No:1 Final Fantasy Fan
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PostRe: Bitcoins and Other Crypto-currencies
by No:1 Final Fantasy Fan » Tue Dec 12, 2017 7:06 pm

Slayerx wrote:Are most people using Coin Base?

Got some Bitcoin and ETH yesterday wish I'd got some LTC after seeing nearly 100% gains today!

I use coinable too apparently its the safest exchange.

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PostRe: Bitcoins and Other Crypto-currencies
by Garth » Tue Dec 12, 2017 7:58 pm

I should stop reading this thread, it's just adding to my list of regrets in life.

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Return_of_the_STAR
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PostRe: Bitcoins and Other Crypto-currencies
by Return_of_the_STAR » Tue Dec 12, 2017 8:17 pm

Garth wrote:I should stop reading this thread, it's just adding to my list of regrets in life.


Same, it's sounds like something very easy to do that i have missed out on as i considered it a few years back but at the same time if i ever did buy any then i wouldn't be able to cope with the decision of when to cash out.

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PostRe: Bitcoins and Other Crypto-currencies
by satriales » Tue Dec 12, 2017 8:39 pm

I'm getting déjà-vu over everyone jumping into bitcoin before Xmas and then a big crash in the new year.

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PostRe: Bitcoins and Other Crypto-currencies
by Venom » Tue Dec 12, 2017 9:05 pm

I've no intention of doing investing anything crazy, but respected tech and financial analyst are talking about the potential for bitcoins to go to 1 million. So maybe I missed the boat but an investment now could still yield rewards - if there's no crash. So where's the place to learn about this stuff, how it works and where is safest to trade?

Also, now the value has exploded doesn't this make mining more cost-effective?

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PostRe: Bitcoins and Other Crypto-currencies
by Errkal » Tue Dec 12, 2017 9:07 pm

Venom wrote:Also, now the value has exploded doesn't this make mining more cost-effective?


Nope, as the hash power in the network increases the higher the difficulty gets making it harder to crack a block meaning you need more power to get the same return.
It's why people had to move from CPU to gpu mining then into ASIC mining.

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PostRe: Bitcoins and Other Crypto-currencies
by Venom » Tue Dec 12, 2017 9:15 pm

I suspected it might be something like that. Ta.

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PostRe: Bitcoins and Other Crypto-currencies
by Errkal » Tue Dec 12, 2017 9:18 pm

That said if people ran an unprofitable miner say a year a go it would make gooseberry fool all then in return but with the BTC value increase it would have been profitable now based on what was made thens current value if that makes sense.
Not that it helps you don't know is what will happen but if it continues as it has then it would be profitable longer term as the value you have co Inc out increases.

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PostRe: Bitcoins and Other Crypto-currencies
by Hulohot » Tue Dec 12, 2017 9:21 pm

Ripple XRP is moving up now and is moving faster than ever. It's still cheap to buy, it's nearing 40 cents a coin right now which is a 37% rise just today. By the morning it may hit 50 cents.

It has been stuck at around 20-23 cents for weeks.

This thing could go well.

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PostRe: Bitcoins and Other Crypto-currencies
by Rocsteady » Tue Dec 12, 2017 9:27 pm

These are all going to crash hard.

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No:1 Final Fantasy Fan
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PostRe: Bitcoins and Other Crypto-currencies
by No:1 Final Fantasy Fan » Tue Dec 12, 2017 10:34 pm

Hulohot wrote:Ripple XRP is moving up now and is moving faster than ever. It's still cheap to buy, it's nearing 40 cents a coin right now which is a 37% rise just today. By the morning it may hit 50 cents.

It has been stuck at around 20-23 cents for weeks.

This thing could go well.

cool what exchange are you using? I guess you have linked coinbase to it?

update: Its okay i found bitstamp which do ripple


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