Sold out just over a third of my Telcoin position at 700% ready for the Experty ico next week... Letting the rest run
Where were you able to buy some of the coins you own? Where will you get the experty coins? As you see from my previous list on page 13 can’t see many of the coins on platforms.
Good to hear you’re doing well though. Great position to be in....got out with good profit
Sold out just over a third of my Telcoin position at 700% ready for the Experty ico next week... Letting the rest run
Where were you able to buy some of the coins you own? Where will you get the experty coins? As you see from my previous list on page 13 can’t see many of the coins on platforms.
Good to hear you’re doing well though. Great position to be in....got out with good profit
You buy them direct from the company/people who create them as part of an ICO (initial coin offering). These are usually deliberately priced a lot less than what they’ll end up being, to reward those who buy in first.
Blockchain is just an accounting ledger. Only difference is no one can create a moody version of transactions to commit fraud. If you tried to alter a receipt from £1,000 to £500, quite easy in a set of books, as long as you can also hide the matching bank transaction used to reconcile the accuracy of your books. In blockchain there is no bank receipt, just a receipt into your account and no other ledger outside the blockchain ledger has any legitimacy. If someone paid you 1,000 BTC you received 1,000 BTC end of, it's been recorded as a number in thousands of other ledgers ( "blocks") that validates all connected transactions.
Seems like a fairly solid explanation of the blockchain to me: a decentralised and pseudo-immutable (open to appending, closed to modification) public ledger.
The connection between understanding blockchain technology and the value of a Bitcoin is the same as the connection between understanding the computer system that runs the FX currency exchange markets and the price of a $.
Once again, not a bad way of explaining the relationship of the currency - which is simply a by-product of the computational effort required to maintain the blockchain itself. There is no relationship beyond that: I volunteer my computational resources to maintain the blockchain - via mining - I am rewarded for that effort by being granted coins.
I can go quite in-depth with regards to hashing algorithms and data structures in use - blocks containing merkle trees etc - but those technical/structural details don't have a relationship with the perceived value of the coin.
If you are seeking to understand a rational science behind crypto currency investing you will not find it, and certainly not through understanding blockchain ledgers. No-one can provide any rational investment strategy, least of all a financial adviser. You buy if you think the price is going up and sell if you think the price is going down. In investment terms the price is 100% determined by sentiment, there is no intrinsic value, and the problem is that sentiment is 100% not predictable. What you need to know to successfully invest is what has not yet been said, but when it is, how the crowd will react to increase or reduce demand.
Once again - fairly solid. There's no economic analyses or specific calendar events that you can monitor as per a fiat currency, there's no banking institutions that regulate and maintain the strength of the currency. If I was going to be trading GBP and USD I'd pay specific attention to the Bang of England, governmental alerts on economic factors like unemployment and inflation rates, diplomatic negotiations that may hold the key to future prosperity.. etc.
Sure, I'd still be gambling - but I would be doing so on a system that has more rules, and is by all accounts more predictable (via regulation and the genuine need for stability). I wont deny that all markets are determined by sentiment, but that sentiment has more substance in traditional markets; it's not really opinion - it's fact. John McAfee can tweet about a specific altcoin and it will pump within minutes: people have written trading bots that literally just do sentiment analysis on his twitter feed - if that doesn't go some way to demonstrating Dippenhall's point, then I'm not sure what will.
There are merits to the blockchain as a technology, and even as a currency system - I don't see this going away overnight. Alas, I think you're naive if you genuinely think there is longevity behind the number of altcoins and memecoins popping up.
"Smart Contracts!" - because people writing code, in poor language choices, controlling vast amounts of money hasn't been problematic at all..
"It's a game changer - as everyone can access the financial world without banking restrictions!" - Yep, the Government's are going to ignore the side effect this has on economic sanctions to rogue states.
As a technology - there is a certain degree of usefulness to the idea of blockchain; the IBM and Maersk collaboration is a great example. Blockchain does not require the concept of a currency though, and I think you're naive if you genuinely think the future of the technology relies upon corporate and enterprise environments outsourcing the running of their critical infrastructure to the public. A much more likely scenario is private nodes being provisioned on-the-fly in multiple data-centres; providing the same resilient immutable transaction ledger, but without any of the concerns associated with it. From an environmental point of view, I hope this is the future too.
We're reaching "peak blockchain" - just like every other potentially useful technology; it's what the industry does. Investors see a potential gamechanger, pour money in to ventures containing that technology, and then a couple of years later the industry adapts and applies the technology more conservatively as it's weaknesses and strengths are better understood.
I've sat in meetings where City companies have wanted machine learning in their absence management systems (AKA, Calendars.), and where vendors providing due diligence software have discussed implementing natural language processing in their software (aka, Spreadsheets.). Both solid technologies, but now a couple of years later, it's obvious that the hype was leading to some really unnecessary over-engineering. Blockchain is in itself mostly a wasteful and complex solution to a problem very few people face.
To be quite honest, I write this post as someone who's been dabbling in trading coins (admittedly, a small bank - but an increase of about 400% over the past 6 weeks or so.), but I find it bizarre how we're talking about technology but it becomes almost ideological and extreme; the reactions some people have when you ask them to debate the merits of the system is simply odd.
*As for the 51%/34% attack problems, expect that to rear it's head in a very unpleasant way as we approach genuine possibilities for quantum computing. (Hello, Intel's R&D department!)
Sold out just over a third of my Telcoin position at 700% ready for the Experty ico next week... Letting the rest run
Where were you able to buy some of the coins you own? Where will you get the experty coins? As you see from my previous list on page 13 can’t see many of the coins on platforms.
Good to hear you’re doing well though. Great position to be in....got out with good profit
You buy them direct from the company/people who create them as part of an ICO (initial coin offering). These are usually deliberately priced a lot less than what they’ll end up being, to reward those who buy in first.
Only issue is, you generally have to make a minimum purchase. Experty for example is $1k.
Sold out just over a third of my Telcoin position at 700% ready for the Experty ico next week... Letting the rest run
Where were you able to buy some of the coins you own? Where will you get the experty coins? As you see from my previous list on page 13 can’t see many of the coins on platforms.
Good to hear you’re doing well though. Great position to be in....got out with good profit
You buy them direct from the company/people who create them as part of an ICO (initial coin offering). These are usually deliberately priced a lot less than what they’ll end up being, to reward those who buy in first.
What he said... Experty closed already.
Experty ico Monday, bee token the following Wednesday and then ArcBlock on the 3rd...will go in pretty lumpy on arcblock
I don't understand any of this Crypto currency stuff, but note that the one seen as most promising is Ripple priced at about £1.18 per XRP? (no idea if that's the right term) Surely that's worth a punt?
I note you can only buy in minimum batches of £250 or 210ish XRP... which makes that a slightly scarier investment.
I'd like to find some way of making a few extra quid, think this is probably less risky than my awful gambling efforts on football and in casino environments!
I don't understand any of this Crypto currency stuff, but note that the one seen as most promising is Ripple priced at about £1.18 per XRP? (no idea if that's the right term) Surely that's worth a punt?
I note you can only buy in minimum batches of £250 or 210ish XRP... which makes that a slightly scarier investment.
I'd like to find some way of making a few extra quid, think this is probably less risky than my awful gambling efforts on football and in casino environments!
Ripple will only ever get to, at the very very top end (if it becomes what every bank uses etc) is $100 per token. Even then, ripple is despised by a lot of people in the crypto community as completely against the principles of cryptocurrency and blockchain.
You can buy say £10 of bitcoin on Coinbase, transfer to an exchange and just play around and see what happens. That’s literally how I started.
I don't understand any of this Crypto currency stuff, but note that the one seen as most promising is Ripple priced at about £1.18 per XRP? (no idea if that's the right term) Surely that's worth a punt?
I note you can only buy in minimum batches of £250 or 210ish XRP... which makes that a slightly scarier investment.
I'd like to find some way of making a few extra quid, think this is probably less risky than my awful gambling efforts on football and in casino environments!
Ripple will only ever get to, at the very very top end (if it becomes what every bank uses etc) is $100 per token. Even then, ripple is despised by a lot of people in the crypto community as completely against the principles of cryptocurrency and blockchain.
You can buy say £10 of bitcoin on Coinbase, transfer to an exchange and just play around and see what happens. That’s literally how I started.
Dippenhall is perfectly correct in the way he describes blockchain IMO.
If you ignore the parts that are totally wrong.
Exactly. A bit like saying, at the birth of the internet, “YEAH BUT WAH HAPPUN WHEN SUMWUN RINGS U CHECK MATE INTERNET NERDS”
Why don't you pick one bit that was wrong then, if its so easy?
I'm seeing one half of the debate as simple "LOL BUT YOU'RE WRONG".. which isn't particularly convincing.
It's been done on this thread several times already.
Which is why I’ve given up and just post reaction gifs. Rebuttals have been made and a week later he posts literally the same thing only longer and with embellishments on the bits he’s been shown to be wrong on. Then gets all high and mighty like we’re all just peasants scrapping around with our tulip bulbs. He also can’t get past bitcoin and it’s (numerous) flaws and brushes all crypto with the same thing. When there are clearly different applications of the same technology. It’s not healthy for any debate. If he won’t engage, why should anyone?
I don't understand any of this Crypto currency stuff, but note that the one seen as most promising is Ripple priced at about £1.18 per XRP? (no idea if that's the right term) Surely that's worth a punt?
I note you can only buy in minimum batches of £250 or 210ish XRP... which makes that a slightly scarier investment.
I'd like to find some way of making a few extra quid, think this is probably less risky than my awful gambling efforts on football and in casino environments!
Ripple will only ever get to, at the very very top end (if it becomes what every bank uses etc) is $100 per token. Even then, ripple is despised by a lot of people in the crypto community as completely against the principles of cryptocurrency and blockchain.
You can buy say £10 of bitcoin on Coinbase, transfer to an exchange and just play around and see what happens. That’s literally how I started.
Ripple will not reach half of that
I agree. I held some ripple earlier last month and sold at the top end of its boom and just fed it into doubling my Vechain holdings. Now I wouldn’t go near ripple.
Probably look to invest up to £10 a month starting out to get an idea on how to know when to move, what signs to look out for etc... Then if that works, look to increase from there... Certainly want to stay with lower amounts to start.
Probably look to invest up to £10 a month starting out to get an idea on how to know when to move, what signs to look out for etc... Then if that works, look to increase from there... Certainly want to stay with lower amounts to start.
Ive stuck 250 in each of mine.. its a low enough amount for me to not panic at every dip and happily step away for 6 months without checking every 5 mins.
Probably look to invest up to £10 a month starting out to get an idea on how to know when to move, what signs to look out for etc... Then if that works, look to increase from there... Certainly want to stay with lower amounts to start.
If you’re buying in Coinbase, remember to transfer out using gdax to get round paying fees, if you’re putting in £10 a month then it will really eat away at that
I assume there's a reddit that covers a lot of the terminology.
There is. No disrespect to those who are being helpful on this thread, as there has been some really great tips, but I really don't think this is the place to do your research. The amount of information available on the internet in cast, I'd try to read as much of it as possible, if I were you.
I obviously appreciate the help on the thread, but I am the kind of person that likes to analyse every detail i can before committing my money! Coinbase does seem to get a good rep on Reddit, and other sites that I have been reading this morning.
There seems to be a few cheaper ways to cash out also, but not any I can see of free cash outs, obviously affected by general trading fees.
Comments
Good to hear you’re doing well though. Great position to be in....got out with good profit
The post by @Dippenhall is below, with my bolds: There are merits to the blockchain as a technology, and even as a currency system - I don't see this going away overnight. Alas, I think you're naive if you genuinely think there is longevity behind the number of altcoins and memecoins popping up.
Just a few concerns:
- "Oh, but it's anonymised - they're random wallet addresses" - linkage attacks on anonymised transaction datasets are a thing.
- "But it's decentralised!" - Yeah, that's kind of a gateway to centralisation in itself; 51% and 34% attacks are a thing.*
- "Smart Contracts!" - because people writing code, in poor language choices, controlling vast amounts of money hasn't been problematic at all..
- "It's a game changer - as everyone can access the financial world without banking restrictions!" - Yep, the Government's are going to ignore the side effect this has on economic sanctions to rogue states.
As a technology - there is a certain degree of usefulness to the idea of blockchain; the IBM and Maersk collaboration is a great example. Blockchain does not require the concept of a currency though, and I think you're naive if you genuinely think the future of the technology relies upon corporate and enterprise environments outsourcing the running of their critical infrastructure to the public. A much more likely scenario is private nodes being provisioned on-the-fly in multiple data-centres; providing the same resilient immutable transaction ledger, but without any of the concerns associated with it. From an environmental point of view, I hope this is the future too.We're reaching "peak blockchain" - just like every other potentially useful technology; it's what the industry does. Investors see a potential gamechanger, pour money in to ventures containing that technology, and then a couple of years later the industry adapts and applies the technology more conservatively as it's weaknesses and strengths are better understood.
I've sat in meetings where City companies have wanted machine learning in their absence management systems (AKA, Calendars.), and where vendors providing due diligence software have discussed implementing natural language processing in their software (aka, Spreadsheets.). Both solid technologies, but now a couple of years later, it's obvious that the hype was leading to some really unnecessary over-engineering. Blockchain is in itself mostly a wasteful and complex solution to a problem very few people face.
To be quite honest, I write this post as someone who's been dabbling in trading coins (admittedly, a small bank - but an increase of about 400% over the past 6 weeks or so.), but I find it bizarre how we're talking about technology but it becomes almost ideological and extreme; the reactions some people have when you ask them to debate the merits of the system is simply odd.
*As for the 51%/34% attack problems, expect that to rear it's head in a very unpleasant way as we approach genuine possibilities for quantum computing. (Hello, Intel's R&D department!)
Experty ico Monday, bee token the following Wednesday and then ArcBlock on the 3rd...will go in pretty lumpy on arcblock
I note you can only buy in minimum batches of £250 or 210ish XRP... which makes that a slightly scarier investment.
I'd like to find some way of making a few extra quid, think this is probably less risky than my awful gambling efforts on football and in casino environments!
It is, without a doubt, a very high-risk investment.
You can buy say £10 of bitcoin on Coinbase, transfer to an exchange and just play around and see what happens. That’s literally how I started.
I'm seeing one half of the debate as simple "LOL BUT YOU'RE WRONG".. which isn't particularly convincing.
Probably look to invest up to £10 a month starting out to get an idea on how to know when to move, what signs to look out for etc... Then if that works, look to increase from there... Certainly want to stay with lower amounts to start.
I assume there's a reddit that covers a lot of the terminology.
There seems to be a few cheaper ways to cash out also, but not any I can see of free cash outs, obviously affected by general trading fees.