Helpful ReplyHot!BITCOINS

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dazdsb
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Re: RE: BITCOINS 2017/12/11 14:55:49 (permalink)
and here I am again thinking do I buy at £12,500 - nah fuck that the train is done. 
 
next week: 'bitcoin hits all-time high of £20,000!'
 
me. FFFFUUUUUUUUUUU 
Leg Warmer
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Re: RE: BITCOINS 2017/12/11 15:07:59 (permalink)
Anyone been thinking about the arbitrage opportunities available with crypto? Some of the price differences between the exchanges are very tempting. Could potentially make a lot of money.
gutlessrhyme
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Re: RE: BITCOINS 2017/12/11 15:13:25 (permalink)
frizzyd
I looked at Localbitcoins but I need to use my Credit Card
 
Just certain things the misses needs to know, other things she doesn't!!


I found coinbase a bit of a pain to get properly verified and the delays they put on payments (to prevent fraud I assume) are annoying but I get there in the end.

I've recently registered on CEX but yet to actually deposit any money.
OEM
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Re: RE: BITCOINS 2017/12/11 15:24:07 (permalink)
Leg Warmer
Anyone been thinking about the arbitrage opportunities available with crypto? Some of the price differences between the exchanges are very tempting. Could potentially make a lot of money.



It's tempting but the fees are a cunt. These exchanges must be making millions on them.
 
There are some individuals who have taken up trading crypto full time. Price is so arbitrary imo. Too much of a head fuck to keep track of it.


frizzyd
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Re: RE: BITCOINS 2017/12/11 15:30:02 (permalink)
Leg Warmer
Anyone been thinking about the arbitrage opportunities available with crypto? Some of the price differences between the exchanges are very tempting. Could potentially make a lot of money.



Revolut are now allowing you buy crypto but the rate you can sell at is much lower than the other exchanges (it is pointless as you can't transfer it to an external wallet anyway). I only know this as I was following your bouncing ball advice a few pages ago about using the Revolut app to get euro's with no exchange fees!!!
 
Granted the Revolut rate has a mark-up on the BTC rate of 1.5% to account for trading volatility but they are based on Bitstamp exchange.
 
The Bitstamp rate is around $300 less than GDAX so the same thought did cross my mind.....but I'm new to this and no way am I going balls deep into something I don't fully understand yet! FFS I can't even get my Coinbase ID verified!
 
Leg Warmer
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Re: RE: BITCOINS 2017/12/11 16:47:35 (permalink)
frizzyd
Leg Warmer
Anyone been thinking about the arbitrage opportunities available with crypto? Some of the price differences between the exchanges are very tempting. Could potentially make a lot of money.



Revolut are now allowing you buy crypto but the rate you can sell at is much lower than the other exchanges (it is pointless as you can't transfer it to an external wallet anyway). I only know this as I was following your bouncing ball advice a few pages ago about using the Revolut app to get euro's with no exchange fees!!!
 
Granted the Revolut rate has a mark-up on the BTC rate of 1.5% to account for trading volatility but they are based on Bitstamp exchange.
 
The Bitstamp rate is around $300 less than GDAX so the same thought did cross my mind.....but I'm new to this and no way am I going balls deep into something I don't fully understand yet! FFS I can't even get my Coinbase ID verified!
 




Yeah the Revolut price was what got me thinking about it initially but like you say there is no way of transferring it to an exchange to sell so that's a non-starter. You can do it with other exchanges though, even have it automated: https://github.com/butor/blackbird
 
 
SW14
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Re: RE: BITCOINS 2017/12/11 16:48:57 (permalink)
What's the deal with these Litecoins? 
 
Worth a punt? A bit more manageable pricewise than the Bitcoins.
LHC
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Re: RE: BITCOINS 2017/12/11 17:01:16 (permalink)
I bought a £300 worth of LTC just when they were worth £30, just before they became completely worthless at the last crash. I assumed I'd lost everything but they seem to have risen again and are rising steeply at the minute. I see it as even more of a bubble than BTC because they are harder to spend, thus even more worthless.
 
I would cash out now but I thought I'd lost all of my money anyway so I'm going to take the tiny chance of it exploding.
Whagwan
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Re: RE: BITCOINS 2017/12/11 17:07:44 (permalink)
I'm pretty sure I lost a lot of litecoins when I formatted an old computer so, just like the BTC, I'm doing my best not to wonder what could have been.
Leg Warmer
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Re: RE: BITCOINS 2017/12/11 17:12:49 (permalink)
IOTA looks interesting in terms of its application and possible uses. I'm less than convinced about the scalability of the blockchain in its current state so any tech that has avoiding those limitations at the forefront of their mission is where I'm currently directing my eyes.
SW14
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Re: RE: BITCOINS 2017/12/11 17:24:38 (permalink)
Surely there is only so much room in the market for these cryptocurrencies?
 
Ethereum, Litecoin, Bitcoin etc, I'm sure there are countless more. 
 
Bitcoin seems "too big to fall" now in terms of being banned or heavily regulated (I thought that was a huge risk at an earlier stage), not sure about these other ones.
Split Concept
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Re: RE: BITCOINS 2017/12/11 17:26:06 (permalink)
All in on dogecoin. 


Leg Warmer
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Re: RE: BITCOINS 2017/12/11 17:28:08 (permalink)
SW14
Surely there is only so much room in the market for these cryptocurrencies?
 
Ethereum, Litecoin, Bitcoin etc, I'm sure there are countless more. 
 
Bitcoin seems "too big to fall" now in terms of being banned or heavily regulated (I thought that was a huge risk at an earlier stage), not sure about these other ones.




Bitcoin and all it's bastard children could be completely fucked by China, nearly all the mining groups are based there. 
post edited by Leg Warmer - 2017/12/11 17:32:09
SW14
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Re: RE: BITCOINS 2017/12/11 17:32:39 (permalink)
Leg Warmer
SW14
Surely there is only so much room in the market for these cryptocurrencies?
 
Ethereum, Litecoin, Bitcoin etc, I'm sure there are countless more. 
 
Bitcoin seems "too big to fall" now in terms of being banned or heavily regulated (I thought that was a huge risk at an earlier stage), not sure about these other ones.




Bitcoin and all it's bastard children could be completely fucked by China, all the mining groups are based there. 




I thought China had banned it already? Or they were certainly trying to?
Leg Warmer
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Re: RE: BITCOINS 2017/12/11 17:37:39 (permalink)
SW14
Leg Warmer
SW14
Surely there is only so much room in the market for these cryptocurrencies?
 
Ethereum, Litecoin, Bitcoin etc, I'm sure there are countless more. 
 
Bitcoin seems "too big to fall" now in terms of being banned or heavily regulated (I thought that was a huge risk at an earlier stage), not sure about these other ones.




Bitcoin and all it's bastard children could be completely fucked by China, all the mining groups are based there. 




I thought China had banned it already? Or they were certainly trying to?




They banned ICOs and exchanges that are funded with fiat but haven't done anything about miners.
Shiverman
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Re: RE: BITCOINS 2017/12/12 02:54:17 (permalink)
SW14
Surely there is only so much room in the market for these cryptocurrencies?
 
Ethereum, Litecoin, Bitcoin etc, I'm sure there are countless more. 
 
Bitcoin seems "too big to fall" now in terms of being banned or heavily regulated (I thought that was a huge risk at an earlier stage), not sure about these other ones.




This is definitely not true. The miners are all consolidated in a few entities, it wouldn't even be much effort to outlaw them if China decides to and then the whole blockchain grinds to a halt. If anything Bitcoin is more brittle than other coins that aren't so centralised. Not saying that China will, just that thinking it's safe is wrong.
post edited by Shiverman - 2017/12/12 02:57:46
OEM
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Re: RE: BITCOINS 2017/12/12 03:18:46 (permalink)
Ltc making some big moves. >60% in one day.


Shiverman
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Re: RE: BITCOINS 2017/12/12 05:43:10 (permalink)
Speculation that it's the only way to get money out of Bitcoin in one of the big exchanges right now, transfer to Litecoin and cash out.
Leg Warmer
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Re: RE: BITCOINS 2017/12/12 08:47:03 (permalink)
I reckon the fact it's one of the 3 cryptos coinbase/gdax carry is also a big factor in its rise.
wiseacre
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Re: RE: BITCOINS 2017/12/12 09:04:49 (permalink)
People are remortgaging their houses and stuff now, madness.

post edited by wiseacre - 2017/12/12 09:07:22

no
Syhr
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Re: RE: BITCOINS 2017/12/12 10:48:06 (permalink)
Shiverman
Speculation that it's the only way to get money out of Bitcoin in one of the big exchanges right now, transfer to Litecoin and cash out.




What, so despite all these rises, you can't actually get real money back out the other end? (unless you do that Litecoin thing)


Shiverman
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Re: RE: BITCOINS 2017/12/12 11:00:51 (permalink)
This is why I keep saying it's not profit til you cash out. There have been quite a lot of occasions where exchanges have been very difficult to get money out of. Or impossible, because the exchange has been completely fraudulent and never had the money or the coins in the first place, ie Mt Gox, and what I reckon is going on with Bitfinex
 
@wiseacre that happened on the last two big bubbles too. Also that guy who supposedly lost a hard drive with thousands of coins and wants to scour landfill to find it pops up, and he again did the other day.
post edited by Shiverman - 2017/12/12 11:02:32
Shiverman
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Re: RE: BITCOINS 2017/12/12 11:08:29 (permalink)
If any of you want a bit of balance
 
https://www.reddit.com/r/buttcoin
 
post edited by Shiverman - 2017/12/12 11:11:34
Johnny Quest
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Me_Kick_Out_Teet
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Re: RE: BITCOINS 2017/12/12 14:14:55 (permalink)
I'm not quite understanding why you can't get money out? When I was buying and selling, it was easy enough to sell on localbitcoins? What has changed? 
 
Have the fees gone up or something? 
Griff
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Re: RE: BITCOINS 2017/12/12 14:19:05 (permalink)
I'm pretty sure you can still sell on localbitcoins. 
Whagwan
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Re: RE: BITCOINS 2017/12/12 14:33:14 (permalink)
Transaction fees are stupidly high right now.
Me_Kick_Out_Teet
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Re: RE: BITCOINS 2017/12/12 14:34:36 (permalink)
ah, fair enough.... they always did take a bite though 
Johnny Quest
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Re: RE: BITCOINS 2017/12/12 14:38:35 (permalink)
I like how it's gone from this progressive, decentralised system to turning into something which resembles an ordinary trading market.
TopNotch
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Re: RE: BITCOINS 2017/12/12 14:49:29 (permalink)
I'm sure it has been said already but if you have crypto currency buy an offline ledger to store your codes offline. If you have them in coinable et al you don't actually have the currency. Coinbase just "promise" to pay you out to that value. Also you are likely to be a victim of a "crypto heist".
 
Purchase > Send to ledger > go off grid > live in a hollow tree and bathe in moss and mud.
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