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Molby

Cryptocurrencies and other important new technologies

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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

 

For the record he's not got something going on in his spare room and he's staying well clear of bit coin. 

Edited by Jonesy

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For the record he's not got something going on in his spare room and he's staying well clear of bit coin. 

'cos of the fork?

f*** the fork

 

anyway I'm more in to ether atm

 

but you need bitcoin to buy the other cryptos that come out as ICOs

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I'm regularly biting bitcoin but my knowledge is limited. I'll buy some and pay for products online immediately, so it doesn't get a chance to go up or down in value.

 

Im using bitbargain for purchases, though they aren't actually a bargain! Convenient though as they take uk bank transfers

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Couple of links to read Molb :

 

http://www.coindesk.com/

 

Notice the price over time and the fact we're just past a peak :

 

http://www.coindesk.com/price/

 

 

Forum :

 

https://bitcointalk.org/

 

 

Reddit forums :

 

https://www.reddit.com/r/CryptoCurrency/

 

Altcoin forum (alternate cryptocurrencies to Bitcoin) :

 

https://www.reddit.com/r/altcoin/

 

 

 

There's a new cryptocurrency launching this month called Bullion Coin. The interesting thing about it is that it is backed 100% by physical precious metals  :  http://www.goldvu.com/bullioncoin.html

 

 

It's bad time to be buying generally (obv) due to the low pound.

 

 

 

Personally I've got into buying silver and gold.  I'm a member of the following community :  http://thesilverforum.com/

 

There's two ways to go with this - either stacking (buy as much as you can as cheap as you can) or collecting proof or brilliant uncirculated coins (more expensive to produce with more attractive finishes).

 

I like it because you can do the collecting thing and still buy at just above the spot price for gold and silver. You're putting some dosh aside, you're doing the collecting thing and you have something physical to show for it.  And of course gold is VAT and tax free as well as being free from capital gains tax.

Edited by Flight

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So these warnings about impending dips in bitcoin:

 

That all makes sense but I'm planning on buying what I can and holding for 3 years and then collecting my 20000% gain so not too worried about a dip now

 

But I'll also have a go at ICOs in the meantime, based on sentiment rather than fundamentals (in and out quick)

 

As for gold, I'm interested in that too and for the same reasons

I collect a bit of this and that anyway but recently I developed an unexpected and alarming case of gold fever which is really bugging me

It might be cos I've reduced my other vices

I'm desperate for a pile of gold

Not gold rings or jewellery - solid gold, preferably bars with rounded edges but I'll take what I can get

 

And I want to sit there and look at it and occasionally pick it up and enjoy its heft and smooth finish

 

I realise that I'm going down a dark ( and unaffordable ) road but what can you do?

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No because I operate the pay it forward principle of good fortune

As a result, kids will be rehabilitated, animals rescued etc

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So these warnings about impending dips in bitcoin:

 

That all makes sense but I'm planning on buying what I can and holding for 3 years and then collecting my 20000% gain so not too worried about a dip now

 

But I'll also have a go at ICOs in the meantime, based on sentiment rather than fundamentals (in and out quick)

 

As for gold, I'm interested in that too and for the same reasons

I collect a bit of this and that anyway but recently I developed an unexpected and alarming case of gold fever which is really bugging me

It might be cos I've reduced my other vices

I'm desperate for a pile of gold

Not gold rings or jewellery - solid gold, preferably bars with rounded edges but I'll take what I can get

 

And I want to sit there and look at it and occasionally pick it up and enjoy its heft and smooth finish

 

I realise that I'm going down a dark ( and unaffordable ) road but what can you do?

 

Can anyone tell me how to start with a wallet etc? I am currently unsure how to set myself up.

 

Wondering how I can invest in smaller coins, can I buy them using a BitCoin wallet?

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Can anyone tell me how to start with a wallet etc? I am currently unsure how to set myself up.

 

Wondering how I can invest in smaller coins, can I buy them using a BitCoin wallet?

go to coinbase.org and sign up

then buy some satoshi

 

then you transfer your coin to a wallet to keep it saf(er)

like Jaxx, which works on your phone, get the app

 

but if you lose your phone you're f***ed, so make sure you store your wallet key (like a very long pin number or code) somewhere safe

 

you can also buy ethereum on coinbase

and you can go to exchanges like Kraken or Poloniex and buy other currencies using bitcoin

 

all these things are harder to do than say ordering stuff from Amazon and has really taxed my feeble technobrain but just push through - the fact it's hard is a good thing

eg uploading docs to prove ID can fail for no apparent reason

 

retry and suddenly it works

 

or seemingly arbitrary limits on what you can buy each week but the more you trade the more you can trade next week

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Was talked out of putting 20k in to bitcoin 3 years ago, I am guessing I would have done well? Havent checked in a long time. Guessing its too late now?

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Was talked out of putting 20k in to bitcoin 3 years ago, I am guessing I would have done well? Havent checked in a long time. Guessing its too late now?

 

I'm not sure how many bitcoins you would have got then, but 1 bitcoin is currently worth approximately 2k (according to my mate Google).

 

Might be worth not thinking about it too much ;).

Edited by Hus

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Was talked out of putting 20k in to bitcoin 3 years ago, I am guessing I would have done well? Havent checked in a long time. Guessing its too late now?

you'd have made £2m or so

 

one o' 'dem

 

actually maybe only one mil

Edited by Molby

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just bought £2k of Reputation coin (Augur)

I love this s***; I have virtually no idea what I'm doing but I'm not sure I need to

 

I'm trading like a Jedi - just using the force

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go to coinbase.org and sign up

then buy some satoshi

 

then you transfer your coin to a wallet to keep it saf(er)

like Jaxx, which works on your phone, get the app

 

but if you lose your phone you're f***ed, so make sure you store your wallet key (like a very long pin number or code) somewhere safe

 

you can also buy ethereum on coinbase

and you can go to exchanges like Kraken or Poloniex and buy other currencies using bitcoin

 

all these things are harder to do than say ordering stuff from Amazon and has really taxed my feeble technobrain but just push through - the fact it's hard is a good thing

eg uploading docs to prove ID can fail for no apparent reason

 

retry and suddenly it works

 

or seemingly arbitrary limits on what you can buy each week but the more you trade the more you can trade next week

Thanks Molby.

 

We should possibly start a WhatsApp group or something to discuss. Anyone up for that?

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just bought £2k of Reputation coin (Augur)

I love this s***; I have virtually no idea what I'm doing but I'm not sure I need to

 

I'm trading like a Jedi - just using the force

Market cap of over 200 million dollars in less than two years of existence. What in f***s name is the point of all of these 900-odd currencies if not an elaborate pyramid scheme?

 

https://coinmarketcap.com/all/views/all/

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Market cap of over 200 million dollars in less than two years of existence. What in f***s name is the point of all of these 900-odd currencies if not an elaborate pyramid scheme?

 

https://coinmarketcap.com/all/views/all/

Some of them are

REP coin is a tool for reporting on the outcome of world events

 

It's one of the maddest business concepts I've ever heard yet it kinda makes sense

 

It's the kind of thing I'd expect superior aliens to be doing and when they land on earth they're like "yeah this is how we do it on our planet, we don't have fake news"

Thanks Molby.

 

We should possibly start a WhatsApp group or something to discuss. Anyone up for that?

Can't someone knock up a forum?

With lots of functionality and cool features

 

I nominate Nathan and we'll all give him 1% of our winnings

That way he'll become staggeringly rich for doing what he loves

 

He's no idiot so he's bound to accept this offer

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you'd have made £2m or so

 

one o' 'dem

 

actually maybe only one mil

Dont mess about

So shall I buy some now? Or is it about to go the way of the t**?

 

I will put 10k in today on your say so Molby

Dont mess about, im not sure if you are messing

So shall I buy some now? Or is it about to go the way of the t**?

 

I will put 10k in today on your say so Molby

I feel sick

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Dont mess about

 

So shall I buy some now? Or is it about to go the way of the t**?

 

I will put 10k in today on your say so Molby

 

 

I feel sick

So far I have put in £2k on Bitcoin, £2k on Ethereum and £2k on Augur (REP) and am putting in more each week as fast as I can

 

And I can't afford to lose it as I'm saving up for wildstock (and land)

 

So my advice is reckless, but at least I'm in the same boat

So yes I advise you to get in

But maybe spread across the three

 

Let's face it, the thing about money is you have to spend it before it's all gone so this is almost certainly the right thing to do

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So is bitcoin the only currency that can be easily used for commerce? Seems like the vast majority of the rest are based on selling you a piece of a yet unrealised software platform?

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So is bitcoin the only currency that can be easily used for commerce? Seems like the vast majority of the rest are based on selling you a piece of a yet unrealised software platform?

Pretty much

 

f*** off fundamentals

 

it's like gold prospecting without having to get cold or wet or killed ( can still get robbed)

Edited by Molby

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So far I have put in £2k on Bitcoin, £2k on Ethereum and £2k on Augur (REP) and am putting in more each week as fast as I can

 

And I can't afford to lose it as I'm saving up for wildstock (and land)

 

So my advice is reckless, but at least I'm in the same boat

So yes I advise you to get in

But maybe spread across the three

 

Let's face it, the thing about money is you have to spend it before it's all gone so this is almost certainly the right thing to do

Just looking online here in Oz, and you have to order then go in and pay cash in a bank, that sound right?

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