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silversword

Bitcoin (and other crypto currencies)

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31 minutes ago, JCRJM said:

Thanks for letting us know mate. That js much better then. :) 

Make sure you test it yourself with a wallet and small amount of coin.  I got the info from the Ledger website but I’d hate to be responsible for someone losing a lot of coin!  I only had a small amount of DASH when I deleted that app so it wouldn’t have been the end of the world if it had gone wrong.

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14 minutes ago, Cointreau said:

What exchange do you use HH? I want to buy some ether.

Hi noticed your question last 2 days I started using Binance.

I was fed up with all the stupid fees scambase etc and there trade fees are 0.5 Lowest anywhere.

Someone may tell you more and ill keep an eye on the thread always learning and occasionally the hard way.

Ive used for last 2 days have put in taken out and literally shaken all about lol

I have a referral I dont know if you get extra for using it so just use as information if need be 

https://www.binance.com/?ref=16321253

Good luck :)  Verge my nice little earner currently 

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I just had this video appear in my Youtube notifications, the odd thing is I'm not subscribed to this channel but it popped up as if I was.  It's apparently inside info on big money coming into cryptos soon but now I'm concerned it's Youtube doing their bit for the cabal and trying to snare people into buying on the promise of the bull run when it might be the exact opposite and just an attempt to get buyers today when we have had a sea of red for long enough when the plan is just for more downside.

 

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That video is 5 days old and the BTC price has fallen more than 10% since then. I'm dubious about people who claim to have inside knowledge about what big investors are planning to do. I have a little BTC and ETH just in case, but I won't be buying more until I see the next stage of a bubble frenzy actually taking place.

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On 21/12/2017 at 21:07, Xander said:

The reason I was asking is, my son had his bitcoins stored with MT Gox and lost the lot. I had a look at the nano ledger s, it looks pretty secure, plan on buying some and storing them for several years, security and control are paramount. just hanging back hoping for a bit of a dip then it's between ethereum or bitcoin. 

Thanks for the advice.

 

@Xander your son might want to look into this to get a claim in.

https://cointelegraph.com/news/mt-gox-crypto-exchange-begins-civil-rehabilitation-proceedings-ends-bitcoin-sell-offs

 

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Am I correct in saying that unless these cryptos/ crypto exchanges can be stress tested and pass like they have with the banks or find someway or strengthen themselves against hacks then surely the value of cryptos will just decrease?

Edited by matrawr

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Crypto exchanges are not really comparable to banks. Banks engage in fractional reserve lending and so are vulnerable to bad debts and bank runs. Stress testing is a way of helping to ensure that banks can cope with the likely consequences of a recession or some other economic shock. Crypto exchanges do need to be regulated, because they are currently getting away with all kinds of bad practices that would be illegal for a securities broker. But the main issue is that people are mainly buying crypto as a speculative investment. They are not using it for transactions, but are just holding it on the exchange where they bought it, so they can sell it again when the price rises. This is completely insecure. It is like calling a coin shop, buying some gold coins and asking the shop to put your coins in a box under the counter for you. If the shop is burgled or a rogue employee helps themselves, you've lost your coins. If you buy any crypto you should transfer it off the exchange and onto an account you have created yourself with a wallet. Of course, the fact that you have to do this is one of the reasons that crypto is not ready for general use among the public at large.

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1 hour ago, Bumble said:

Crypto exchanges are not really comparable to banks. Banks engage in fractional reserve lending and so are vulnerable to bad debts and bank runs. Stress testing is a way of helping to ensure that banks can cope with the likely consequences of a recession or some other economic shock. Crypto exchanges do need to be regulated, because they are currently getting away with all kinds of bad practices that would be illegal for a securities broker. But the main issue is that people are mainly buying crypto as a speculative investment. They are not using it for transactions, but are just holding it on the exchange where they bought it, so they can sell it again when the price rises. This is completely insecure. It is like calling a coin shop, buying some gold coins and asking the shop to put your coins in a box under the counter for you. If the shop is burgled or a rogue employee helps themselves, you've lost your coins. If you buy any crypto you should transfer it off the exchange and onto an account you have created yourself with a wallet. Of course, the fact that you have to do this is one of the reasons that crypto is not ready for general use among the public at large.

I didn't mean do exactly what they've done with the banks but you have summed up the point I was trying to get at they need to be more secure and regulated before the crypto prices can go up and stay up.

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4 minutes ago, HelpingHands said:

At the moment the crypto youtubers are often taking about market manipulation and bitcoin's price being below mining costs.

I find it troubling since these are the exact same    explanations/conspiracies/excuses  we heard from the PM youtubers.

 

 

It is odd that the cryptos bahaviour changed the instant the Bitcoin futures market opened though.

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6 hours ago, HelpingHands said:

At the moment the crypto youtubers are often taking about market manipulation and bitcoin's price being below mining costs.

I find it troubling since these are the exact same    explanations/conspiracies/excuses  we heard from the PM youtubers.

This is usually people trying to make sense of loses and rationalise irrational market movements.  They overlook the simple concept there may not be many buyers in the market.  The general price decline has been accompanied with lowering volume.  Pop analysis using mining costs as a floor is naive because most production occurred in the past when cost were lower, so miners remain in profit over longer term.  They can also run operations at a loss for a period rather than nothing, because -10,% 20% is better than -100%. 

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I'm from Quebec, where the amount of electricity given to that industry is around 6o times the amount of megawatt it takes for a metallica concert. What the others mentioned above here is almost valid here as well, and although I did look into this as a way to just sit back and enjoy the dividends, after some quick calculations I took step backs instead.

There are a few mining hives here in Montreal and other big cities( as mentioned here in these articles) https://www.cbc.ca/news/canada/montreal/sherbrooke-mayor-welcomes-quebec-owned-cryptocurrency-miner-set-to-create-up-to-250-jobs-1.4569969 
and another was released by bloomberg canada recently.

Even with dirt cheap electricity cost, I don't think it'd be a sound decision (for me at least) because I did some evaluation with charts and spoke with some pool owners and I could hardly break even if I was trying to make such a run.

Here are websites for reference, one that has a chart comparing cost and efficiency( not exactly new and neither is the next link where a prospector tells his tale and how he ended ...unless his wife told him so, we'll never know) https://www.buybitcoinworldwide.com/mining/profitability/

https://www.quora.com/Is-anyone-making-money-in-bitcoin-mining-anymore

He ends up in the red after years of investment and building to have a decent at home rig. Still, I guess, how can one small end-user make it big with a miner maybe two, even if buying used&not hosting this in their garage?

                                                                                                                                          

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