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Cryptocurrencies and other important new technologies

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Bitcoin, Ethereum etc

I'm hooked

I'm buying both of them ATM , although the Coinbase site is a bitch to use

 

Anyone on this?

 

I've read and read and read but my unscientific brain is only very very slowly understanding how all this works

 

Nevertheless I think this stuff is gonna be all-conquering now

 

Where's Vish? He should know about this

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An IT lad I used to work with got onto Bitcoin early and has made a mint

Same here... A lad who I worked with was a tester on a game I worked on and he blew his first bonus on bitcoin

 

Oh how we laughed..... At the time

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There'll be loads of stories like that

But what about the future?

 

John Mcaffee said if bitcoin doesn't hit $500k in 3 years he'll eat his own dick

He should know about this kind of thing right?

 

So with that in mind it's good to buy a few bitcoins, currently at $2500 and wait 3 years

I throw my change in to a massive jar when I get home and it yields about £1k a year

And I still pay £50 a month on the Merseytunnel Fastag even though I don't use it anymore

So all that's getting converted to bitcoin or ethereum too

 

Problem is, actually buying the stuff in any quantity, through a medium that one trusts

 

And there isn't just Bitcoin

There are loads of new currencies coming out which could be junk but still make a massive short term gain

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I use https://bittylicious.com/ never had an issue with them. They hold all transactions in escrow. You don't get the top rates but you get peace of mind.

One 2 one trades seem too risky to me unless you absolutely trust the person you are dealing with. Obviously if you are selling it is different because you can clear the funds first. I wouldn't want to but that way.

 

 

With regards to quantity, the more you use bitty the more you can sell trade. I would imagine most exchanges work in the same way.

Edited by DazzlaJ

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I seem to recall a news article about someone who threw out their computer with all the Bitcoin info on it - ended up in a landfill they wanted to search.

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Someone who I believe knows s*** like this convinced me not to buy Bitcoin, but Ethereum (and a couple of other 'secondary' currencies) instead. I can't remember why, but I remember it was pretty compelling reasoning at the time. I'll go ask him.

 

 

If only I could remember who it was.

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Andreas Antonopoulos seems to be the guy explaining all of this to the masses, heard him on a couple of podcasts and he was good at making it palatable.


I should have got on this years ago, it was $100 when I first started looking into it

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can't be bothered, I think i'll just stay poor

so in the near future you'll be in some trendy coffee shop fumbling for change and the smart-mouthed barrista will say something like "we don't accept those dead-weight tokens here anymore grandad"

then you'll look a fool, won't you?

Someone who I believe knows s*** like this convinced me not to buy Bitcoin, but Ethereum (and a couple of other 'secondary' currencies) instead. I can't remember why, but I remember it was pretty compelling reasoning at the time. I'll go ask him.

 

 

If only I could remember who it was.

not to worry, I'll send you my crypto currency buying guide

 

to hell with complex property deals...there's nothing like high risk, easy money right?

 

I've already taken a position in etherium and am after REP coin now

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so in the near future you'll be in some trendy coffee shop fumbling for change and the smart-mouthed barrista will say something like "we don't accept those dead-weight tokens here anymore grandad"

then you'll look a fool, won't you?

not to worry, I'll send you my crypto currency buying guide

 

to hell with complex property deals...there's nothing like high risk, easy money right?

 

I've already taken a position in etherium and am after REP coin now

 

you'll be f***ed too once I finalize privatizing the air

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My ignorance/stupidity does not know if this is truth or sarcasm. If I get five minutes I'll ask them Google lads.

No

The "code" needs to be broken to form the next link(s) in the (block)chain to release new coins. And it's called mining but requires serious processing power. And when a single coin is worth a lot, mining becomes attractive

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Plus the more coins exist the harder they are to mine, so bitcoin is nigh on impossible these days.

 

There was an Ask Jack column about this in the Guardian the other day.

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a few years ago you could mine

now you need a warehouse* full of processors

the Chinese have got it boxed for the most part

 

 

 

 

 

*this is a way of saying not your spare room

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Relative is trying to get me on the one coin bandwagon.

Of all the things to buy...

Don't do it

 

Have a read of the Kiln proposal - upcoming ICO

I don't understand it

 

But I'll still invest in it if I can

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