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Ricky Otto

President⭐
Joined
Mar 8, 2007
Messages
6,589
Location
Chelmsford
Back in August after watching the Netflix documentary "banking on bitcoin", I made a small investment (£100) in bitcoin. It had already rocketed in value so I was reluctant to invest a significant amount, I wish I had now as my £100 is now worth £210 and I have doubled my money. There are many tales of people who got onto the bitcoin trend early and made themselves an absolute fortune buying coins at less than £100 a couple of years back that are now worth £5.5k!

So this weekend I have been on youtube watching video after video on cryptocurrencies and reading various reports. My research led me to invest £500 in Litecoin and next week I am going to invest another £500 in Ethereum (Coinbase only allows you to make £500 of transactions a week).


Has anybody else on here dabbled in cryptocurrencies? Anybody got any research or opinions they would like to share?
 

Ricky Otto

President⭐
Joined
Mar 8, 2007
Messages
6,589
Location
Chelmsford
Do you have an uncle in Nigeria?

My other half does :smile: does that count?

I think its am interesting subject and there seems to be argument between economists as to whether it is a goldrush or fools gold. It's hard to ignore that if you invested £1000 in bitcoin in 2012 you would now have over £650,000! Amazon have recently purchased domain names such as amazoncyrtocurrency.com and amazoncyptocurrencies.com and already own amazonbitcoin.com. It does make you wonder how far they will go?
 

Tangled up in Blue

Certified Senior Citizen⭐
Joined
May 24, 2004
Messages
31,387
Location
Sant Cugat del Vallès
A mate first alerted me to Bitcoin when he was playing Second Life some years ago now.

He's currently head of the British Council in Montevideo,Uruguay where the currency is the peso.

Not sure what the motto is here.Be careful of what you wish for,possibly.:smile:
 

Pubey

Guest
I dabble.

The cancelling of the BTC fork yesterday has been a big help for my alts.
 

MK Shrimper

Well-known member
Joined
Aug 6, 2005
Messages
52,348
I dabble.

The cancelling of the BTC fork yesterday has been a big help for my alts.

I hear you. My robo-auks spazzed up on my crypto-wangs so a down a moderate Uhuru. Hopefully my blind-dogs will puke up a banana or two later today so I'll be back in the furry tower of comfort with pizza for all my bitches.
 

MK Shrimper

Well-known member
Joined
Aug 6, 2005
Messages
52,348
Uhuru

4a8976d6f7145d5f32ecc792d736f15f7323573b.jpg
 

davewebbsbrain

Webby⭐
Joined
Aug 17, 2005
Messages
22,260
Location
Eastwood
Back in August after watching the Netflix documentary "banking on bitcoin", I made a small investment (£100) in bitcoin. It had already rocketed in value so I was reluctant to invest a significant amount, I wish I had now as my £100 is now worth £210 and I have doubled my money. There are many tales of people who got onto the bitcoin trend early and made themselves an absolute fortune buying coins at less than £100 a couple of years back that are now worth £5.5k!

So this weekend I have been on youtube watching video after video on cryptocurrencies and reading various reports. My research led me to invest £500 in Litecoin and next week I am going to invest another £500 in Ethereum (Coinbase only allows you to make £500 of transactions a week).


Has anybody else on here dabbled in cryptocurrencies? Anybody got any research or opinions they would like to share?

I was interested but just seemed too good to be true.

For your investment, which broker do you use? I've only ever heard of Etoro
 

Ricky Otto

President⭐
Joined
Mar 8, 2007
Messages
6,589
Location
Chelmsford
I was interested but just seemed too good to be true.

For your investment, which broker do you use? I've only ever heard of Etoro

This is where my major concern is. Whilst the currencies cryptography makes them very safe, you are still putting a lot of faith in the "digital wallet". I researched and went with coinbase, which allows you to purchase Bitcoin, Ethereum and Litecoin. The currencies that interest me the most are Bitcoin, Litecoin, Monero and Ripple. I have not purchased any ripple or monero as I don't trust the companies I can buy and store them with. So I have purchased bitcoin and litecoin. I've actually had a bit of a result on the litecoin which has gone up 20% this week, all of these crypto-currencies are volatile and are having spikes and drops but all are on an upward trend overall. I was very sceptical to start but I have put in probably about 30hrs of research into the good and bad and I'm starting to believe. Listening to John McAfee (of internet security fame) and Bill Gates talk and endorse them certainly played a big part.
 

Ricky Otto

President⭐
Joined
Mar 8, 2007
Messages
6,589
Location
Chelmsford
I dabble.

The cancelling of the BTC fork yesterday has been a big help for my alts.

Yes I think that it will happen, just the wrong time. What alts do you invest in? I only have litecoin, which is flying at the moment.
 

Ricky Otto

President⭐
Joined
Mar 8, 2007
Messages
6,589
Location
Chelmsford
Hope you’ve not bought the Ethereum, wallets created after 20th July could be permanently frozen according to the BBC.

I haven't invested in Ethereum as it has had security issues, it doesn't use the same tech as bitcoin and has had attacks on the chain where hackers have stolen substantial amounts.
 

Ricky Otto

President⭐
Joined
Mar 8, 2007
Messages
6,589
Location
Chelmsford
I hear you. My robo-auks spazzed up on my crypto-wangs so a down a moderate Uhuru. Hopefully my blind-dogs will puke up a banana or two later today so I'll be back in the furry tower of comfort with pizza for all my bitches.

I think with your political leanings you'd be pleasantly surprised by what good bitcoin and crypto-currency in general can do for the world. With it being de-centralized and its model being one where only a limited amount of coins can be "mined" means that it isn't subject to hyperinflation and quantitative easing. People in countries with corrupt governments where they don't have access to bank accounts can have bitcoin wallets, all they need is a mobile phone. This is brilliant for people who send money home and are being completely ripped off by western union taking over 10%. It is also great for people in countries like Zimbabwe where their currency is valueless outside their country. If you search youtube for Bill and Melinda Gates foundation on Bitcoin and listen to what Bill Gates has to say about it I reckon you'll be impressed. This wasn't invented to make money, this was made to change the world, in a positive way.
 

MK Shrimper

Well-known member
Joined
Aug 6, 2005
Messages
52,348
I think with your political leanings you'd be pleasantly surprised by what good bitcoin and crypto-currency in general can do for the world. With it being de-centralized and its model being one where only a limited amount of coins can be "mined" means that it isn't subject to hyperinflation and quantitative easing. People in countries with corrupt governments where they don't have access to bank accounts can have bitcoin wallets, all they need is a mobile phone. This is brilliant for people who send money home and are being completely ripped off by western union taking over 10%. It is also great for people in countries like Zimbabwe where their currency is valueless outside their country. If you search youtube for Bill and Melinda Gates foundation on Bitcoin and listen to what Bill Gates has to say about it I reckon you'll be impressed. This wasn't invented to make money, this was made to change the world, in a positive way.

I'm glad to hear it, but all I hear about this stuff is buying bad things on the "dark web".....and I couldn't miss out an opportunity when Pubey sounded like something Chris Morris would say on The Day Today.
 

Ricky Otto

President⭐
Joined
Mar 8, 2007
Messages
6,589
Location
Chelmsford
I'm glad to hear it, but all I hear about this stuff is buying bad things on the "dark web".....and I couldn't miss out an opportunity when Pubey sounded like something Chris Morris would say on The Day Today.

The darkweb/ silkroad stuff is happening, no denying that, it is a legitimate concern as well. It is not what bitcoin was designed for and it doesn't stop these guys getting caught, the silkroad cases and the seizure and auctioning off of bitcoin by the US authorities shows that. I have read the CIA have the largest single bitcoin wallet in existence as well, in fact I think it is said in the banking on bitcoin documentary on Netflix. Monero is the currency of choice on the darkweb these days.

Everyone knows Chris Morris is a prophetic genius, he saw this all coming :hilarious:
 

MK Shrimper

Well-known member
Joined
Aug 6, 2005
Messages
52,348
The darkweb/ silkroad stuff is happening, no denying that, it is a legitimate concern as well. It is not what bitcoin was designed for and it doesn't stop these guys getting caught, the silkroad cases and the seizure and auctioning off of bitcoin by the US authorities shows that. I have read the CIA have the largest single bitcoin wallet in existence as well, in fact I think it is said in the banking on bitcoin documentary on Netflix. Monero is the currency of choice on the darkweb these days.

Everyone knows Chris Morris is a prophetic genius, he saw this all coming :hilarious:

You seem to know too much young man :winking: (how much for a few Cake pills? I want to get off my Shatner's Bassoon.)
 
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