FYI the same source that tipped me off about Vechain back when it was $1 has another name to look out for, chainlink. They seem to have a partnership with swift, who will use their blockchain to process their payments. Their price nosedived today but is starting to recover strongly. I’m a bit more apprehensive about this one as they only have one real partnership (and even then it’s dependent on if their tech works etc). Vechain was a no brainer with the partnerships they have, but supposedly some big things are expected of chainlink
FYI the same source that tipped me off about Vechain back when it was $1 has another name to look out for, chainlink. They seem to have a partnership with swift, who will use their blockchain to process their payments. Their price nosedived today but is starting to recover strongly. I’m a bit more apprehensive about this one as they only have one real partnership (and even then it’s dependent on if their tech works etc). Vechain was a no brainer with the partnerships they have, but supposedly some big things are expected of chainlink
You may have answered this and really appreciate your guidance on all of this so far. I've opened a Coinbase/Gdax account and invested some money in Etherium and Bitcoin cash. Cannot see how to invest in VeChain and chainlink. Any simple suggestions?
FYI the same source that tipped me off about Vechain back when it was $1 has another name to look out for, chainlink. They seem to have a partnership with swift, who will use their blockchain to process their payments. Their price nosedived today but is starting to recover strongly. I’m a bit more apprehensive about this one as they only have one real partnership (and even then it’s dependent on if their tech works etc). Vechain was a no brainer with the partnerships they have, but supposedly some big things are expected of chainlink
You may have answered this and really appreciate your guidance on all of this so far. I've opened a Coinbase/Gdax account and invested some money in Etherium and Bitcoin cash. Cannot see how to invest in VeChain and chainlink. Any simple suggestions?
You can only buy bitcoin, ethereum, litecoin and bitcoin cash on Coinbase. You need to set up an account on an exchange like binance and transfer bitcoin on gdax (using your Coinbase login) to your new binance wallet. This is so you can avoid transfer fees. Once it’s cleared (takes an hour to 3 hours) you can buy Vechain etc with your bitcoin.
FYI the same source that tipped me off about Vechain back when it was $1 has another name to look out for, chainlink. They seem to have a partnership with swift, who will use their blockchain to process their payments. Their price nosedived today but is starting to recover strongly. I’m a bit more apprehensive about this one as they only have one real partnership (and even then it’s dependent on if their tech works etc). Vechain was a no brainer with the partnerships they have, but supposedly some big things are expected of chainlink
You may have answered this and really appreciate your guidance on all of this so far. I've opened a Coinbase/Gdax account and invested some money in Etherium and Bitcoin cash. Cannot see how to invest in VeChain and chainlink. Any simple suggestions?
You can only buy bitcoin, ethereum, litecoin and bitcoin cash on Coinbase. You need to set up an account on an exchange like binance and transfer bitcoin on gdax (using your Coinbase login) to your new binance wallet. This is so you can avoid transfer fees. Once it’s cleared (takes an hour to 3 hours) you can buy Vechain etc with your bitcoin.
Binance hasnt been taking new accounts since jan 5th, gotta wonder how these investments can grow if they are making it so hard for new punters to get on board.
FYI the same source that tipped me off about Vechain back when it was $1 has another name to look out for, chainlink. They seem to have a partnership with swift, who will use their blockchain to process their payments. Their price nosedived today but is starting to recover strongly. I’m a bit more apprehensive about this one as they only have one real partnership (and even then it’s dependent on if their tech works etc). Vechain was a no brainer with the partnerships they have, but supposedly some big things are expected of chainlink
You may have answered this and really appreciate your guidance on all of this so far. I've opened a Coinbase/Gdax account and invested some money in Etherium and Bitcoin cash. Cannot see how to invest in VeChain and chainlink. Any simple suggestions?
You can only buy bitcoin, ethereum, litecoin and bitcoin cash on Coinbase. You need to set up an account on an exchange like binance and transfer bitcoin on gdax (using your Coinbase login) to your new binance wallet. This is so you can avoid transfer fees. Once it’s cleared (takes an hour to 3 hours) you can buy Vechain etc with your bitcoin.
Binance hasnt been taking new accounts since jan 5th, gotta wonder how these investments can grow if they are making it so hard for new punters to get on board.
Pretty sure Binance (and a few other exchanges) re-opened to new registrations in the last week or so? (https://www.binance.com/register.html - I can certainly see the registration form)
FYI the same source that tipped me off about Vechain back when it was $1 has another name to look out for, chainlink. They seem to have a partnership with swift, who will use their blockchain to process their payments. Their price nosedived today but is starting to recover strongly. I’m a bit more apprehensive about this one as they only have one real partnership (and even then it’s dependent on if their tech works etc). Vechain was a no brainer with the partnerships they have, but supposedly some big things are expected of chainlink
You may have answered this and really appreciate your guidance on all of this so far. I've opened a Coinbase/Gdax account and invested some money in Etherium and Bitcoin cash. Cannot see how to invest in VeChain and chainlink. Any simple suggestions?
You can only buy bitcoin, ethereum, litecoin and bitcoin cash on Coinbase. You need to set up an account on an exchange like binance and transfer bitcoin on gdax (using your Coinbase login) to your new binance wallet. This is so you can avoid transfer fees. Once it’s cleared (takes an hour to 3 hours) you can buy Vechain etc with your bitcoin.
Binance hasnt been taking new accounts since jan 5th, gotta wonder how these investments can grow if they are making it so hard for new punters to get on board.
Pretty sure Binance (and a few other exchanges) re-opened to new registrations in the last week or so? (https://www.binance.com/register.html - I can certainly see the registration form)
Binance registrations are open but they are limiting the amount of people signing up by only allowing registrations at certain times of the day.
I used Kucoin when i could not register through Binance but now have managed to register at Binance a couple of days ago.
Download the Binance app and keep trying to register at different times of the day. (I got on around midnight)
FYI the same source that tipped me off about Vechain back when it was $1 has another name to look out for, chainlink. They seem to have a partnership with swift, who will use their blockchain to process their payments. Their price nosedived today but is starting to recover strongly. I’m a bit more apprehensive about this one as they only have one real partnership (and even then it’s dependent on if their tech works etc). Vechain was a no brainer with the partnerships they have, but supposedly some big things are expected of chainlink
You may have answered this and really appreciate your guidance on all of this so far. I've opened a Coinbase/Gdax account and invested some money in Etherium and Bitcoin cash. Cannot see how to invest in VeChain and chainlink. Any simple suggestions?
You can only buy bitcoin, ethereum, litecoin and bitcoin cash on Coinbase. You need to set up an account on an exchange like binance and transfer bitcoin on gdax (using your Coinbase login) to your new binance wallet. This is so you can avoid transfer fees. Once it’s cleared (takes an hour to 3 hours) you can buy Vechain etc with your bitcoin.
Cheers @kentaddick - will follow up on Binance and try to register.
FYI the same source that tipped me off about Vechain back when it was $1 has another name to look out for, chainlink. They seem to have a partnership with swift, who will use their blockchain to process their payments. Their price nosedived today but is starting to recover strongly. I’m a bit more apprehensive about this one as they only have one real partnership (and even then it’s dependent on if their tech works etc). Vechain was a no brainer with the partnerships they have, but supposedly some big things are expected of chainlink
You may have answered this and really appreciate your guidance on all of this so far. I've opened a Coinbase/Gdax account and invested some money in Etherium and Bitcoin cash. Cannot see how to invest in VeChain and chainlink. Any simple suggestions?
You can only buy bitcoin, ethereum, litecoin and bitcoin cash on Coinbase. You need to set up an account on an exchange like binance and transfer bitcoin on gdax (using your Coinbase login) to your new binance wallet. This is so you can avoid transfer fees. Once it’s cleared (takes an hour to 3 hours) you can buy Vechain etc with your bitcoin.
Binance hasnt been taking new accounts since jan 5th, gotta wonder how these investments can grow if they are making it so hard for new punters to get on board.
Pretty sure Binance (and a few other exchanges) re-opened to new registrations in the last week or so? (https://www.binance.com/register.html - I can certainly see the registration form)
But an honest question to you and @Dippenhall , i never took economics or business to any level (not even gcse) but from what I’ve learnt since through reading, podcasts etc, is that the fundamental idea behind money and bank notes is exactly the same. The reason they are worth something is just because people have said they are and trust (in central bank etc). Bitcoin’s trust doesn’t lie in a central bank but in mathematics (which cannot be wrong, or the system wouldn’t have worked).
So.. what’s the difference? Minus state regulation?
Have checked my Coinbase account this morning (17/01) and Bitcoin and Ethereum see to be dropping like stones...
play the long game....
Exact same thing happened at the same time last year.
Once upon a time bitcoin crashed down from something like £100 a coin down to a couple of quid. I think people said the bubble had burst then..
Out of interest how many alternatives to Bitcoin were available at that time? I'm not decrying Crypto's entirely but isn't there an obvious risk that Bitcoin is superseded by a younger rival and the bounce you expect never materialises?
Have checked my Coinbase account this morning (17/01) and Bitcoin and Ethereum see to be dropping like stones...
play the long game....
Exact same thing happened at the same time last year.
Once upon a time bitcoin crashed down from something like £100 a coin down to a couple of quid. I think people said the bubble had burst then..
Out of interest how many alternatives to Bitcoin were available at that time? I'm not decrying Crypto's entirely but isn't there an obvious risk that Bitcoin is superseded by a younger rival and the bounce you expect never materialises?
Oh for sure, coins like raiblocks and iota have got round the bitcoin problem of the larger the network the slower it gets. But for the most part altcoins are springing up that fit needs you didn’t even know could be solved with blockchain technology.
But an honest question to you and @Dippenhall , i never took economics or business to any level (not even gcse) but from what I’ve learnt since through reading, podcasts etc, is that the fundamental idea behind money and bank notes is exactly the same. The reason they are worth something is just because people have said they are and trust (in central bank etc). Bitcoin’s trust doesn’t lie in a central bank but in mathematics (which cannot be wrong, or the system wouldn’t have worked).
So.. what’s the difference? Minus state regulation?
Money is not worth anything, that's the whole point. It is just a medium that is used so that the value of a chicken and the value of a tin of beans can be expressed in a common token rather than have an exchange that tracks how many tins of beans are equivalent to a chicken. Crypto currency can only do this if it's value isn't going up and down like a tart's drawers. A Bitcoin might buy me a chicken or 10 cans of beans today, but if i buy a chicken today and beans tomorrow I might end up with 1 chicken and 6 cans of beans or possibly 1 chicken and 20 cans of beans. A token will simply not work as a day to day means of trade if you have no confidence it's store of value is static. Inflation changes how much a £ is worth but it is the price of goods and services which change, not the face value of the currency.
If you want to trade £ for $ then you are trading one worthless token for another, but I might be able to buy more beans in the US with $1.35 than with £1 in the UK so there is intrinsic value in holding $ than £ if I live off baked beans.
This is arbitrage, but if not baked beans, I might believe that the interest I receive in $ will not be eroded by US inflation as much as interest in £ eroded by UK inflation, so I hold $. If someone paid you interest on your Bitcoin for letting them have them in their wallet then it's a different ball game, but just like you don't know how many baked beans a Bitcoin can buy tomorrow nor can you know how many Bitcoins are equivalent to a 5% return.
When you trade across different cryptos you are arbitraging, just like conventional currency trading. But instead of being able to monetise the difference in value, like buying more baked beans, or avoiding the negative impact of inflation, you just hold a different crypto.
My strategy would be to trade out of every crypto exchange regardless of how much profit I made. I would play the system without having to believe in valuations, this is how the exchanges work, they don't believe the valuations, but have an interest in perpetuating the myths that drive demand and activity. I would operate a pure arbitrage strategy ignoring all the spoof information, just milk the system, unless I had morals because I know for every win I make there is a loser who had no idea about investing and thought he was guaranteed free money.
But an honest question to you and @Dippenhall , i never took economics or business to any level (not even gcse) but from what I’ve learnt since through reading, podcasts etc, is that the fundamental idea behind money and bank notes is exactly the same. The reason they are worth something is just because people have said they are and trust (in central bank etc). Bitcoin’s trust doesn’t lie in a central bank but in mathematics (which cannot be wrong, or the system wouldn’t have worked).
So.. what’s the difference? Minus state regulation?
The primary difference, as I have explained before, is that each major currency is "backed" by the central bank holding an equivilent amount of (usually Government) debt instruments to the same value. So, in theory, unless the Government goes bust (like Venezuela or Argentina) and defaults, there is some intrinsic worth.
Now, of course, that's just notes in circulation. There are also all our deposits in banks, etc. This is really only e-money - it doesn't exist other than on computers. But your money at a bank doesn't sit there doing nothing, like your bitcoins. It is earning a living. Deposits are a liability on a bank's balance sheet and the corresponding asset will be someone else's mortgage lending or whatever.
What is quite fascinating is a browse, say, on https://coinmarketcap.com/ which suggests that in the last 24 hrs (and every 24hrs, pretty much as far as I can tell) somewhere over 10% of the total market capitalisation of all crypto currencies were traded. I find that a staggeringly large amount and suggests what is actually going on - hardly any of this is to actually buy stuff it's all just entirely speculative. That means that all the winners are going to have to be balanced out by all the losers doesn't it?
Good job I followed the maxim of "only put in what you can afford to lose", because that is exactly what I have done.
Reminds me of when, mainly to shut up a mate who always predicts the end of the world, starting with equity markets, I invested in a fund focused on gold and miners. It started pointing south almost the day after I bought in, and continued firmly in that direction until I got out with losses of around 50%.
I’m still well up on what I have originally put in. I’m personally laughing at all the people going mental on reddit etc who thought crypto was free money. I only ever bought in as a bit of fun. Still I can see the future in blockchain and various coins that are out there. Hopefully this is the bubble bursting that will kill off all the shit coins
I’m still well up on what I have originally put in. I’m personally laughing at all the people going mental on reddit etc who thought crypto was free money. I only ever bought in as a bit of fun. Still I can see the future in blockchain and various coins that are out there. Hopefully this is the bubble bursting that will kill off all the shit coins
Snap... Still in excess of 100% up, doesn't make how much I've lost over the last couple of days easier to stomach... The annoying thing is, had I seen the article re lunar new year a day earlier I would have traded the whole lot in to tether.
Comments
I used Kucoin when i could not register through Binance but now have managed to register at Binance a couple of days ago.
Download the Binance app and keep trying to register at different times of the day. (I got on around midnight)
Anyone got a binance code for me to use ?
Has anyone seen Mashable recently? I dont read it much anymore, but it seems to be really anti Crypto at the moment.
But an honest question to you and @Dippenhall , i never took economics or business to any level (not even gcse) but from what I’ve learnt since through reading, podcasts etc, is that the fundamental idea behind money and bank notes is exactly the same. The reason they are worth something is just because people have said they are and trust (in central bank etc). Bitcoin’s trust doesn’t lie in a central bank but in mathematics (which cannot be wrong, or the system wouldn’t have worked).
So.. what’s the difference? Minus state regulation?
If you want to trade £ for $ then you are trading one worthless token for another, but I might be able to buy more beans in the US with $1.35 than with £1 in the UK so there is intrinsic value in holding $ than £ if I live off baked beans.
This is arbitrage, but if not baked beans, I might believe that the interest I receive in $ will not be eroded by US inflation as much as interest in £ eroded by UK inflation, so I hold $. If someone paid you interest on your Bitcoin for letting them have them in their wallet then it's a different ball game, but just like you don't know how many baked beans a Bitcoin can buy tomorrow nor can you know how many Bitcoins are equivalent to a 5% return.
When you trade across different cryptos you are arbitraging, just like conventional currency trading. But instead of being able to monetise the difference in value, like buying more baked beans, or avoiding the negative impact of inflation, you just hold a different crypto.
My strategy would be to trade out of every crypto exchange regardless of how much profit I made. I would play the system without having to believe in valuations, this is how the exchanges work, they don't believe the valuations, but have an interest in perpetuating the myths that drive demand and activity. I would operate a pure arbitrage strategy ignoring all the spoof information, just milk the system, unless I had morals because I know for every win I make there is a loser who had no idea about investing and thought he was guaranteed free money.
Now, of course, that's just notes in circulation. There are also all our deposits in banks, etc. This is really only e-money - it doesn't exist other than on computers. But your money at a bank doesn't sit there doing nothing, like your bitcoins. It is earning a living. Deposits are a liability on a bank's balance sheet and the corresponding asset will be someone else's mortgage lending or whatever.
What is quite fascinating is a browse, say, on https://coinmarketcap.com/ which suggests that in the last 24 hrs (and every 24hrs, pretty much as far as I can tell) somewhere over 10% of the total market capitalisation of all crypto currencies were traded. I find that a staggeringly large amount and suggests what is actually going on - hardly any of this is to actually buy stuff it's all just entirely speculative. That means that all the winners are going to have to be balanced out by all the losers doesn't it?
Good job I followed the maxim of "only put in what you can afford to lose", because that is exactly what I have done.
Reminds me of when, mainly to shut up a mate who always predicts the end of the world, starting with equity markets, I invested in a fund focused on gold and miners. It started pointing south almost the day after I bought in, and continued firmly in that direction until I got out with losses of around 50%.