[ajfoggy]

Pump and dump, the guys with loads of cash pump a load in inflate the price and then sell it again, was happening loads in early summer with ethereum, that is when people SL kept getting triggered as the price was dropping so often.

[Tengocity]

Originally Posted by Darth Helmut

Everything else on the market has dropped. Possibly a good time to convert a bit of Bit in to cheap priced coin.

Originally Posted by ajfoggy

Pump and dump, the guys with loads of cash pump a load in inflate the price and then sell it again, was happening loads in early summer with ethereum, that is when people SL kept getting triggered as the price was dropping so often.

It could easily just be people seeing BTC rocket and everything else stagnate, so converting their holdings to BTC to ride this wave. That's what I did with mine!

To the points about how this is similar to the Dot.com boom, the thing is whilst lots of companies were overvalued massively then, there were a few that went on to amazing things and if you held their sticks then you were laughing.

So which Crypto is going to make it? It's easy to see that the concept could have a real future, but not all of them will make it, just like the dot.coms. Right now it looks like Bitcoin has caught the zeitgeist though...

[R99]

I have a real interest in this, but I know literally nothing about it!!

What is the process to get started?

[dopper99]

Originally Posted by R99

I have a real interest in this, but I know literally nothing about it!!

What is the process to get started?

Set up an account on etoro then play around with virtual money for a bit.

[mpawood]

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.

That's a completely different point mate. It may well be a valid one but it has nothing to do with cryptokittties.

BTC appears to be a huge pump and dump but how long it will be pumped for is anyone's guess. ETH offers everything BTC has but a whole lot more. You don't need something physical to have value, obviously you won't find anything physical in crypto currency. Demand determines the value and the reason people may be speculating on crypto currencies is the vast things it could do. Cryptokitties was actually a good example of how people will pay a lot of money for digital items.

There is a lot to prove with all crypto currencies and I do think there is value in some of them. I have invested in ETH for that reason.

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

Originally Posted by Tengocity

It could easily just be people seeing BTC rocket and everything else stagnate, so converting their holdings to BTC to ride this wave. That's what I did with mine!

To the points about how this is similar to the Dot.com boom, the thing is whilst lots of companies were overvalued massively then, there were a few that went on to amazing things and if you held their sticks then you were laughing.

So which Crypto is going to make it? It's easy to see that the concept could have a real future, but not all of them will make it, just like the dot.coms. Right now it looks like Bitcoin has caught the zeitgeist though...

Bitcoin does have a ceiling limit, whereas ETH does not have a limit.

Also it's easier for devs to use.

Personally I think ETH and ltc will do well, btc has limitations and is slightly tarnished with stuff like Silk Road etc.

[Tengocity]

Originally Posted by Brigand

Bitcoin does have a ceiling limit, whereas ETH does not have a limit.

Also it's easier for devs to use.

Personally I think ETH and ltc will do well, btc has limitations and is slightly tarnished with stuff like Silk Road etc.

I think BTC lends itself to being a store of wealth, more like Gold, rather than as a currency.

[ciscopete822]

Originally Posted by Brigand

Bitcoin does have a ceiling limit, whereas ETH does not have a limit.

Also it's easier for devs to use.

Personally I think ETH and ltc will do well, btc has limitations and is slightly tarnished with stuff like Silk Road etc.

true that , on top ETH is token capable of facilitating Smart Contracts - that could be a game changer as well.

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

Originally Posted by ciscopete822

true that , on top ETH is token capable of facilitating Smart Contracts - that could be a game changer as well.

If you want to book a hotel room use bitcoin.

If you want to buy the hotel use eth.

Also ETH is at its core an application.

https://solidity.readthedocs.io/en/develop/

Link thing for devs.

[Sullym6]

Originally Posted by ajfoggy

All I have at the moment is approx 500 IOTA and 50 EOS.

I'll just let them sit, if IOTA does anything like Ethereum i'll be very happy indeed and if it does a BC i'll 10 M3s pull names from a hat!

Did you buy actual iota or just invest like everyone is doing with bitcoin. What marker place did you use

[ajfoggy]

Originally Posted by Sullym6

Did you buy actual iota or just invest like everyone is doing with bitcoin. What marker place did you use

I have I guess in theory bought IOTA, because I exchanged USD for IOTA.

[bobo13]

Where are you guys buying IOTA from?

[Sullym6]

Originally Posted by ajfoggy

I have I guess in theory bought IOTA, because I exchanged USD for IOTA.

Did you use bitfinex, just registered and the verification process is but intensive

[ajfoggy]

Originally Posted by Sullym6

Did you use bitfinex, just registered and the verification process is but intensive

Yep i'm using Bitfinex.

[Zippeh]

LiteCoin had an exciting day!

[JustChris]

Millions 'stolen' in NiceHash Bitcoin heisthttp://www.bbc.co.uk/news/technology-42275523

Weird, how is this even possible.

[Sullym6]

Bitfinex is very hard to understand and trying to buy iota with btc is a bit confusing since it's 0.00029 btc to each iota which isn't easy to convert to something easier to understand like usd.
Took about an hour to figure out how to place an order, let's hope it is worth it

Sully

[ajfoggy]

Originally Posted by Sullym6

Bitfinex is very hard to understand and trying to buy iota with btc is a bit confusing since it's 0.00029 btc to each iota which isn't easy to convert to something easier to understand like usd.
Took about an hour to figure out how to place an order, let's hope it is worth it

Sully

I'll take a 10% cut in a years time

[Sullym6]

Originally Posted by ajfoggy

I'll take a 10% cut in a years time

More like I owe you a pint

[Mr Whippy]

So who has cashed out of crypto ever?

Slowly but surely moving £1000s into a bank account from many separate btc buyers might raise eyebrows?

More so if you're ever audited because you're Self Assesment?

Ultimately you could pay cap gains and do it all legit but who is?

[ajfoggy]

Originally Posted by Mr Whippy

So who has cashed out of crypto ever?

Slowly but surely moving £1000s into a bank account from many separate btc buyers might raise eyebrows?

More so if you're ever audited because you're Self Assesment?

Ultimately you could pay cap gains and do it all legit but who is?

If i ever get to that point i'll look at it then, a long way to go before I get to that point

[Tengocity]

Interesting weekend for Bitcoin!

I had some stop losses triggered when it dropped to 13000 suddenly on Saturday, which was very annoying (forgot that I'd set as trailing stop losses). Bought back almost immediately though so just lost the spread thankfully.

Looked like that it was all set for a big slump when the futures market started yesterday, but seems to have gone on an overnight rally instead.