Bitcoins and Other Crypto-currencies

Fed up talking videogames? Why?
User avatar
Errkal
Member
Joined in 2011
Location: Hastings
Contact:

PostRe: Bitcoins and Other Crypto-currencies
by Errkal » Thu Feb 11, 2021 6:10 am

Grumpy David wrote:
https://www.cnbc.com/2021/02/05/bitcoin-btc-surge-renews-worries-about-its-massive-carbon-footprint.html

Digiconomist estimates that the energy footprint of one bitcoin transaction is equivalent to 453,000 payments on the Visa network.


Makes sense when you think about it, due to the need to miners for transaction fees and stuff the power needs are astronomical and will get why worse the bigger BTC gets.

More transactions need more miners, more miners means higher diff and more power requirements.

User avatar
Knoyleo
Member
Joined in 2008

PostRe: Bitcoins and Other Crypto-currencies
by Knoyleo » Thu Feb 11, 2021 6:27 am

pjbetman wrote:
Knoyleo wrote:
pjbetman wrote:
Knoyleo wrote:

twitter.com/ruskin147/status/1359183875059179524


Glad to see the "currency of the future" well on its way to incinerating the planet. Presumably Elon runs Tesla just as a carbon offsetting scheme against his bitcoin?


I'm pretty sure that's nonsense. But what does FIAT use? (not the car btw lol)

The full methodology is here: https://cbeci.org/cbeci/methodology

While not 100% accurate as some assumptions have to be made, it's probably not far off the actual picture.

As for normal money, that doesn't need farms of computers to print or mint, or conduct transactions, the energy usage will be significantly less, verging on negligible.


That's the stupidest thing ive ever read on here i think.

Bitcoin mining uses 1/100th the energy of mining gold. So, i'd like to see where gold sits on that list above. And dont say gold get used for industrial purposes....yes it does but it's a tiny fraction.

https://www.reddit.com/r/Bitcoin/commen ... rebuttals/

Do you not read your own posts?

Gold isn't fiat money. Gold might back a currency, but it isn't the currency.

pjbetman wrote:That's the stupidest thing ive ever read on here i think.
User avatar
Minty14
Member
Joined in 2008
Location: Nottinghamshire
Contact:

PostRe: Bitcoins and Other Crypto-currencies
by Minty14 » Thu Feb 11, 2021 9:42 am

Anyways, this is why we should all back Ethereum

User avatar
Oblomov Boblomov
Member
Joined in 2008
AKA: Mind Crime, SSBM_God

PostRe: Bitcoins and Other Crypto-currencies
by Oblomov Boblomov » Thu Feb 11, 2021 10:23 am

Minty14 wrote:Anyways, this is why we should all back Ethereum

I bought £288 of it what, 12 hours ago, and I'm already up to £295.38 :datass: might start applying my sun cream now so I'm ready to set sail on my new yacht in ~15 minutes.

Image
User avatar
Dual
Member
Joined in 2008

PostRe: Bitcoins and Other Crypto-currencies
by Dual » Thu Feb 11, 2021 11:35 am

Oblomov Boblomov wrote:
Minty14 wrote:Anyways, this is why we should all back Ethereum

I bought £288 of it what, 12 hours ago, and I'm already up to £295.38 :datass: might start applying my sun cream now so I'm ready to set sail on my new yacht in ~15 minutes.


Join Elon on the moon baby!

User avatar
Minty14
Member
Joined in 2008
Location: Nottinghamshire
Contact:

PostRe: Bitcoins and Other Crypto-currencies
by Minty14 » Thu Feb 11, 2021 11:37 am

Oblomov Boblomov wrote:
Minty14 wrote:Anyways, this is why we should all back Ethereum

I bought £288 of it what, 12 hours ago, and I'm already up to £295.38 :datass: might start applying my sun cream now so I'm ready to set sail on my new yacht in ~15 minutes.

My early retirement fund is up to £100 now :datass:

User avatar
Clarkman
Member
Joined in 2008

PostRe: Bitcoins and Other Crypto-currencies
by Clarkman » Thu Feb 11, 2021 12:27 pm

Minty14 wrote:
Oblomov Boblomov wrote:
Minty14 wrote:Anyways, this is why we should all back Ethereum

I bought £288 of it what, 12 hours ago, and I'm already up to £295.38 :datass: might start applying my sun cream now so I'm ready to set sail on my new yacht in ~15 minutes.

My early retirement fund is up to £100 now :datass:



User avatar
Peter Crisp
Member
Joined in 2008

PostRe: Bitcoins and Other Crypto-currencies
by Peter Crisp » Thu Feb 11, 2021 3:51 pm

Oblomov Boblomov wrote:
Minty14 wrote:Anyways, this is why we should all back Ethereum

I bought £288 of it what, 12 hours ago, and I'm already up to £295.38 :datass: might start applying my sun cream now so I'm ready to set sail on my new yacht in ~15 minutes.


When you get rich enough you should buy Greenland just to piss off Trump.

jiggles wrote:Nobody with a VR headset is going to be using it regularly this time next year, let alone in 4 years time.


Posted 16th March 2016. Let's see.
User avatar
Oblomov Boblomov
Member
Joined in 2008
AKA: Mind Crime, SSBM_God

PostRe: Bitcoins and Other Crypto-currencies
by Oblomov Boblomov » Thu Feb 11, 2021 3:56 pm

Peter Crisp wrote:
Oblomov Boblomov wrote:
Minty14 wrote:Anyways, this is why we should all back Ethereum

I bought £288 of it what, 12 hours ago, and I'm already up to £295.38 :datass: might start applying my sun cream now so I'm ready to set sail on my new yacht in ~15 minutes.


When you get rich enough you should buy Greenland just to piss off Trump.

It's gone over £300 now so I'll be on track for this pretty soon.

Image
User avatar
Dual
Member
Joined in 2008

PostRe: Bitcoins and Other Crypto-currencies
by Dual » Thu Feb 11, 2021 4:39 pm

What did you use to buy it? Coinbase?

User avatar
No:1 Final Fantasy Fan
Member
Joined in 2008
Location: UK

PostRe: Bitcoins and Other Crypto-currencies
by No:1 Final Fantasy Fan » Thu Feb 11, 2021 4:56 pm

Coinbase have very high fees. I would recommend Binance. It's been years since I dappled in cryptocurrency though. I used to use one called GDax which is basically Coinbase but a sister website, they are now renamed as Coinbase Pro.
I also have a Revolut account setup to transfer funds as it was easier than using my actual bank account.

User avatar
Minty14
Member
Joined in 2008
Location: Nottinghamshire
Contact:

PostRe: Bitcoins and Other Crypto-currencies
by Minty14 » Thu Feb 11, 2021 5:00 pm

If you've set up a Coinbase account, move it to Coinbase Pro - the fees are only 0.5% on transactions there.

User avatar
Oblomov Boblomov
Member
Joined in 2008
AKA: Mind Crime, SSBM_God

PostRe: Bitcoins and Other Crypto-currencies
by Oblomov Boblomov » Thu Feb 11, 2021 5:06 pm

Yeah I'm on Coinbase out of sheer ignorance and laziness.

Will have a look at moving over to Pro – I assume that in itself entails a fee?

Image
User avatar
Minty14
Member
Joined in 2008
Location: Nottinghamshire
Contact:

PostRe: Bitcoins and Other Crypto-currencies
by Minty14 » Thu Feb 11, 2021 5:10 pm

Oblomov Boblomov wrote:Yeah I'm on Coinbase out of sheer ignorance and laziness.

Will have a look at moving over to Pro – I assume that in itself entails a fee?

Nope. It has a much less user friendly interface, but there's no fee to use it or anything

And you can transfer anything from your coinbase account automatically

User avatar
darksideby182
Member
Joined in 2008
Location: Cove grove

PostRe: Bitcoins and Other Crypto-currencies
by darksideby182 » Thu Feb 11, 2021 5:29 pm

Do the Coinbase rewards before moving them to the pro version I'm up to around £112 from putting in £10 (xrp) on new years day also if you have a Revolut card you can invest in crypto.
I found that a few banks didn't like Coinbase and wouldn't let me add money (sterling and Halifax).

I put £150 in bitcoin, £50 in etherium, £5 in XRP and £5 in Stellar lumens on my Revolut card

I have £10 with out fees of xrp in Coinbase plus all the rewards.

Also I put £15 in etherium in a Binance account.

At the moment my £235 in worth about £475 but I know this could all go to nothing. I'm just hoping it will pay for some PC and bike components upgrades in the future.

Last edited by darksideby182 on Thu Feb 11, 2021 7:03 pm, edited 1 time in total.
Wii U : punkeator
Xbox live : darksideby182
Psn : darksideby182
steam : Punkeator
Origin : Punkeator
Switch : 6739-1557-7191
User avatar
Oblomov Boblomov
Member
Joined in 2008
AKA: Mind Crime, SSBM_God

PostRe: Bitcoins and Other Crypto-currencies
by Oblomov Boblomov » Thu Feb 11, 2021 5:33 pm

Minty14 wrote:
Oblomov Boblomov wrote:Yeah I'm on Coinbase out of sheer ignorance and laziness.

Will have a look at moving over to Pro – I assume that in itself entails a fee?

Nope. It has a much less user friendly interface, but there's no fee to use it or anything

And you can transfer anything from your coinbase account automatically

How do you do that last bit? I've tried all sorts but I just keep getting thrown out into a web browser and asked to sign in using two-step verification, which I do but then the only option I can find is to link my actual bank account rather than my Coinbase account.

Image
User avatar
Minty14
Member
Joined in 2008
Location: Nottinghamshire
Contact:

PostRe: Bitcoins and Other Crypto-currencies
by Minty14 » Thu Feb 11, 2021 5:39 pm

If you pick "Deposit" you should have coinbase.com as an option

User avatar
Minty14
Member
Joined in 2008
Location: Nottinghamshire
Contact:

PostRe: Bitcoins and Other Crypto-currencies
by Minty14 » Thu Feb 11, 2021 5:39 pm

So pick Ethereum, then Deposit, and you should be able to use Coinbase as a source

User avatar
Clarkman
Member
Joined in 2008

PostRe: Bitcoins and Other Crypto-currencies
by Clarkman » Thu Feb 11, 2021 5:39 pm

Oblomov Boblomov wrote:
Minty14 wrote:
Oblomov Boblomov wrote:Yeah I'm on Coinbase out of sheer ignorance and laziness.

Will have a look at moving over to Pro – I assume that in itself entails a fee?

Nope. It has a much less user friendly interface, but there's no fee to use it or anything

And you can transfer anything from your coinbase account automatically

How do you do that last bit? I've tried all sorts but I just keep getting thrown out into a web browser and asked to sign in using two-step verification, which I do but then the only option I can find is to link my actual bank account rather than my Coinbase account.


Go to pro.coinbase.com and click portfolios, then deposit, then select the asset, and it'll give you a choice between a wallet address or Coinbase.

User avatar
Oblomov Boblomov
Member
Joined in 2008
AKA: Mind Crime, SSBM_God

PostRe: Bitcoins and Other Crypto-currencies
by Oblomov Boblomov » Thu Feb 11, 2021 5:40 pm

Minty14 wrote:If you pick "Deposit" you should have coinbase.com as an option

Got it, thanks.

Image

Return to “Stuff”