[nordberg]

Can’t find it on etoro? Tried MIOTA but doesn’t return anything...

[nordberg]

Ok I see you can’t but IOTA with trad currencies just yet....

[ajfoggy]

Originally Posted by nordberg

Ok I see you can’t but IOTA with trad currencies just yet....

Sorry yep trading it on Bitfinex.

[nordberg]

Originally Posted by ajfoggy

Sorry yep trading it on Bitfinex.

Ok - sorry for newbie questions...

Do I need to buy some crypto currency to be able to get on board with IOTA?

[ajfoggy]

Originally Posted by nordberg

Ok - sorry for newbie questions...

Do I need to buy some crypto currency to be able to get on board with IOTA?

I'm no expert on this at all

I bought on Coinbase and then transferred them of to Bitfinex and there I exchanged them into different Cryptos.

[....,,,,..,,..]

This seems to have went quite well since original post.

I still reckon ETH will surpass Bitcoin.

It has a number of advantages over bitcoin and that's where the increase is likely to be.

Security is key (no pun intended) with these currencies though.

[ajfoggy]

Originally Posted by Brigand

This seems to have went quite well since original post.

I still reckon ETH will surpass Bitcoin.

It has a number of advantages over bitcoin and that's where the increase is likely to be.

Security is key (no pun intended) with these currencies though.

It would have gone even better had a left my money in and not had to withdraw most of it to move house But never mind there are still opportunities to be had!

Welcome back BTW!

[robbiep]

If anyone is considering this, do recall that approximately 10% of the traffic on Etherium is 'cryptokitties'.

http://www.bbc.co.uk/news/technology-42237162

[mpawood]

Originally Posted by robbiep

If anyone is considering this, do recall that approximately 10% of the traffic on Etherium is 'cryptokitties'.

http://www.bbc.co.uk/news/technology-42237162

What's your point here?

[ajfoggy]

Originally Posted by mpawood

What's your point here?

I think the last piece of the article. If it becomes a problem then people will sell and or leave ethereum platform.

[Tengocity]

Bitcoin is going mental now. From about 11500 to 13000 in less than a day!

[Darth Helmut]

Originally Posted by Tengocity

Bitcoin is going mental now. From about 11500 to 13000 in less than a day!

Bonkers aint it

The rumour was that once it hit 10k, it would surge.

Happy teddy bear today for sure, 200% up on my Bitcoin (bought at £3669). Sitting tight for a tangible increase in XRP. Its been sitting at 0.17p for about 6 weeks with only a couple of excursions above 0.20p.

[robbiep]

Originally Posted by mpawood

What's your point here?

My point is that it looks like a classic bubble. The 'valuations' are based on hype and the only way in which those valuations continue to rise is by more and more people piling in to the hype.
Like dutch tulips, or the dotcom boom bust, when the correction comes it will be swift and vicious.

And by 'swift', I mean that the 'value' crashes to 'unsellable at any price' in a matter of days, or even hours.

[Tengocity]

Originally Posted by robbiep

My point is that it looks like a classic bubble. The 'valuations' are based on hype and the only way in which those valuations continue to rise is by more and more people piling in to the hype.
Like dutch tulips, or the dotcom boom bust, when the correction comes it will be swift and vicious.

And by 'swift', I mean that the 'value' crashes to 'unsellable at any price' in a matter of days, or even hours.

Was that really your point about the cryptokitties?

This comment just sounds like something you read recently that someone else wrote.

Dutch tulip mania is one of the most mentioned but least well understood historical episodes there is.

No doubts that there is plenty speculative money in bitcoins and other crypto, but in all those bubbles there were plenty of folk who made a fortune.

[robbiep]

Originally Posted by Tengocity

Was that really your point about the cryptokitties?

This comment just sounds like something you read recently that someone else wrote.

Dutch tulip mania is one of the most mentioned but least well understood historical episodes there is.

No doubts that there is plenty speculative money in bitcoins and other crypto, but in all those bubbles there were plenty of folk who made a fortune.

No, it's not 'something I read recently that someone else wrote', it's my own considered viewpoint. I've not invested in BTC or other cryptocurrencies for a number of reasons - the regulatory landscape is very unclear, there is a history of hacking that has caused huge losses (Mt Gox, Bitfinex), and, most crucially for me, I see no real basis to the values involved.

Before putting a single penny into BTC or any other equivalent, the big question I ask myself is "Where is the value". Where is my future profit going to come from, in other words.
BTC has increased in value nearly ten-fold in the last 7 months. There is nothing in any fundamentals that says it will maintain the current price, or that the price will increase. There is nothing to back up the current (or any) valuation.

Etherium the same. The price has jumped from $8 at the start of this year to (about) $480 now. That's a 60-fold increase.
The only reason for Etherium's price rocket has been by people piling in, being scared of missing out.

The people I'd be scared for are those who are jumping onto what is basically a huge pyramid / Ponzi scheme, because they are being told that they're missing out on the next big thing.
Just like in the dotcom boom/bust.
Just like the tulip mania.

[F30Andy]

Speaking of hacking, nicehash was relieved of around 60 million dollars worth of BTC today. £3k worth of which was mine.

To say I am pissed off is an understatement.

Thank goodness I was semi regularly transferring to an external wallet.
I know there are a lot of people out there that have lost way more than this today.

[Tengocity]

Originally Posted by F30Andy

Speaking of hacking, nicehash was relieved of around 60 million dollars worth of BTC today. £3k worth of which was mine.

To say I am pissed off is an understatement.

Thank goodness I was semi regularly transferring to an external wallet.
I know there are a lot of people out there that have lost way more than this today.

I read about that... ouch!

[MashinBenzin]

Presume you guys have read the articles about tether/bitfinex potentially driving the bitcoin rises. There was a good one on seekingalpha in the last day or two and several others out there.

ETA- bloody hell, almost $15k now, enjoy!

[ajfoggy]

Originally Posted by MashinBenzin

Presume you guys have read the articles about tether/bitfinex potentially driving the bitcoin rises. There was a good one on seekingalpha in the last day or two and several others out there.

ETA- bloody hell, almost $15k now, enjoy!

I think if I had invested in Bitcoin recently i'd be selling now. Only way to be relatively safe is to buy for a few cents and hopefully you back the right horse.

[MashinBenzin]

Originally Posted by ajfoggy

I think if I had invested in Bitcoin recently i'd be selling now. Only way to be relatively safe is to buy for a few cents and hopefully you back the right horse.

I agree, I'd be at least looking to lock in some of the gains to mitigate potential losses. Easy for me to say with no skin in the game though.

Very hard to pull out when seeing daily gains that rival the monthly or even annual gain from traditional medium or high risk investments.

[Darth Helmut]

Originally Posted by F30Andy

Speaking of hacking, nicehash was relieved of around 60 million dollars worth of BTC today. £3k worth of which was mine.

To say I am pissed off is an understatement.

Thank goodness I was semi regularly transferring to an external wallet.
I know there are a lot of people out there that have lost way more than this today.

Ouch! Not good mate.


robbiep, understand where youre coming from but if you have a few quid in Bitcoin, its a very interesting time at the moment and its all about luck. I was lucky to buy at a point where it was fairly low and am seeing a huge return. Sure, bubble will burst at some point but like any shares 'gamble', its picking the right time to ditch. I'm sitting tight on XRP but may well move my BTC soon. Thats half the fun.

[Tengocity]

Originally Posted by ajfoggy

I think if I had invested in Bitcoin recently i'd be selling now. Only way to be relatively safe is to buy for a few cents and hopefully you back the right horse.

When you say recently, what do you mean exactly?!

A day is a long time in the world of cryptocurrencies!

I have buys at various prices from a couple of months ago and doing ok, so have set stop losses at various levels so that if a crash happens I lock in a large proportion of my gains.

I have a friend who bought £4k a week ago, has made £1k already and has decided he's happy with that and has sold it.