Bitcoins and Other Crypto-currencies

Errkal wrote:

Oblomov Boblomov wrote:Ether reached just over £1,850 during the night can't believe how quickly it's moved to tickling the £2k mark. Looks like a widespread transaction (withdrawals only) fault in Coinbase has caused a dip though and we're back down to £1,780 at the time of writing.

I actually can't remember the process when I signed up to Coinbase but it was incredibly quick. I'm guessing I would have used my driving licence. I was verified in a couple of minutes. However, one of my friends then did the same thing a few weeks later and it took over a week for his account to be verified...

I'm a bit surprised some of you are confused by the Pro UI. It's not a pleasing aesthetic, but if you're looking to withdraw your balance you literally just tap on the balance icon, then the 'Withdraw' option and it's very straightforward from there.

Yeah it seems easy enough to withdraw its just the rest of it, I guess if I'm just holding some for a bit them selling when I want to it is all overkill.

I think what I'm going to do is hold it in Coinbase "normal" as the interface is nicer for seeing how my few pots are doing and when I want to sell then transfer for coinbase pro as it is instant and free, then sell there to reduce on fees.

coldspice wrote:

Errkal wrote:

Oblomov Boblomov wrote:Ether reached just over £1,850 during the night can't believe how quickly it's moved to tickling the £2k mark. Looks like a widespread transaction (withdrawals only) fault in Coinbase has caused a dip though and we're back down to £1,780 at the time of writing.

I actually can't remember the process when I signed up to Coinbase but it was incredibly quick. I'm guessing I would have used my driving licence. I was verified in a couple of minutes. However, one of my friends then did the same thing a few weeks later and it took over a week for his account to be verified...

I'm a bit surprised some of you are confused by the Pro UI. It's not a pleasing aesthetic, but if you're looking to withdraw your balance you literally just tap on the balance icon, then the 'Withdraw' option and it's very straightforward from there.

Yeah it seems easy enough to withdraw its just the rest of it, I guess if I'm just holding some for a bit them selling when I want to it is all overkill.

I think what I'm going to do is hold it in Coinbase "normal" as the interface is nicer for seeing how my few pots are doing and when I want to sell then transfer for coinbase pro as it is instant and free, then sell there to reduce on fees.

Just don't buy through the normal coinbase app, the fees are much higher than on Pro.

darksideby182 wrote:Binance is worth a look and if you have a Revolut card you can buy Crypto in the app easily although they don't have much selection.

Skarjo wrote:Bitcoins are incredibly unstable, and they've crashed a few times. For some reason there's a lot of people who think that they're a long term investment which keeps fuelling these bubbles, but soon enough they'll crash again.

BonalityMatrix wrote:

Skarjo wrote:Bitcoins are incredibly unstable, and they've crashed a few times. For some reason there's a lot of people who think that they're a long term investment which keeps fuelling these bubbles, but soon enough they'll crash again.

With the benefit of hindsight, this is hilarious! I bet you wish you'd spent £500 on them back then. I bloody know I do!

Meep wrote:Is there really a significant environmental impact? Computers are efficient machines and one, or any mining rig, in someone's home is going to be no worse than having an electric heater or oven throwing off the same heat. I'm sure there is some costs but it probably pales in comparison with other unnesccary activities. I'd say a cryto miner has a lot less to answer for than someone who takes multiple international flights a year (not that there are many people doing that atm). Also no one has ever suggested running computers just to play games or other unnesccary things was a waste of power.

jiggles wrote:My only foray into crypto is a single purchase for a long hold. I bought £100 of 0x about 5 weeks ago, and that’s it. Trying to game the trades is a ridiculous risk, a fool’s roulette, and certainly not worth bothering in this volume. The environmental impact of crypto trading makes me strawberry floating sick to my stomach so I’m literally doing one buy, one sell and I’m done.

I’ll likely hold this for at least a decade. Life changing amount or bust. And yes, I know it’s hypocritical to even participate when I have such an objection to what this does to the planet I leave behind for my son and future generations, but if people are going to burn the world down anyway, I might as well claim a slice of the moonbucks.

coldspice wrote:

Meep wrote:Is there really a significant environmental impact? Computers are efficient machines and one, or any mining rig, in someone's home is going to be no worse than having an electric heater or oven throwing off the same heat. I'm sure there is some costs but it probably pales in comparison with other unnesccary activities. I'd say a cryto miner has a lot less to answer for than someone who takes multiple international flights a year (not that there are many people doing that atm). Also no one has ever suggested running computers just to play games or other unnesccary things was a waste of power.

This would be fair if mining was all done by people at home using their idle PCs, but Bitcoin in particular has mining operations which consist of 1000s of high power GPUs in Data Centres for the sole purpose of mining.

Bitcoin mining dwarves several countries in terms of power consumption.

Although, there should be more pressure on data centre operators to use greener energy sources. For instance, I used to work in a data centre which was 100% nuclear powered.

Meep wrote:Is there really a significant environmental impact? Computers are efficient machines and one, or any mining rig, in someone's home is going to be no worse than having an electric heater or oven throwing off the same heat. I'm sure there is some costs but it probably pales in comparison with other unnesccary activities. I'd say a cryto miner has a lot less to answer for than someone who takes multiple international flights a year (not that there are many people doing that atm). Also no one has ever suggested running computers just to play games or other unnesccary things was a waste of power.