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Cryptocurrency

  • 18-05-2017 10:37am
    #1
    Registered Users Posts: 492 ✭✭ TheJackAttack


    Hello
    Does anyone follow the crypto currency market here?
    I remember I followed the thread (https://www.boards.ie/b/thread/2057263128/75?) re Stellar Lumens about 2 years ago and saw online the market value jumped to $0.04 from $0.01 over the past week.
    I've made about 80 quid from nothing!
    What do people think of investing in crypto, apart from the obvious is volatile etc


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Comments

  • Closed Accounts Posts: 22 ✭✭✭ conall122


    I've placed a grand in dgd last august and will continue to hold till the dgx 2.0 launch. I didn't put any on ethereum at the time which i really regret because i could of made 10 times my investment back. i did get some eth at 40ish though. I've made a lot of money from cryptocurrencies so far but i don't plan on trading them forever. The market cap on most of them is ridiculously high and i don't think the growth we're seeing in them will sustain for much longer


  • Registered Users Posts: 9,800 ✭✭✭ Mr. Incognito


    It's a textbook.bubble.

    People who get in early will make money..

    People who don't get out in time will get burnt.

    These fads come along every generation. Always ends up the same way.


  • Registered Users Posts: 560 ✭✭✭ Pivot Eoin


    It's a textbook.bubble.

    People who get in early will make money..

    People who don't get out in time will get burnt.

    These fads come along every generation. Always ends up the same way.

    You dont really get it do you? Do you understand Crypto-Currency?


  • Registered Users Posts: 492 ✭✭ TheJackAttack


    I've been trying since Friday to verify a kraken account. It's a bloody nightmare.. I currently hold some ZEM and Stellar.. Trying to get a hold of some Ether..
    Still trying to get my head around it but as a concept it's revolutionary .. Pivot Eoin - can you tell me of your experience?


  • Registered Users Posts: 9,800 ✭✭✭ Mr. Incognito


    Pivot Eoin wrote: »
    You dont really get it do you? Do you understand Crypto-Currency?

    I do. It's an invented currency driven to hyperinflation by demand with zero intrinsic value.

    Do you understand economics?


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  • Registered Users Posts: 949 ✭✭✭ Prezatch


    Pivot Eoin wrote: »
    You dont really get it do you? Do you understand Crypto-Currency?

    Sounds like you don't really get it to be honest....
    Pivot Eoin wrote:
    Just bought my first €25.00 of Bitcoin (Max Allowed) on Belgacoin. Wish me luck! Complete noob to this

    :pac:


  • Closed Accounts Posts: 492 ✭✭ The Cuban


    Offloaded my Gnosis, made a tidy 522% profit, basically 2k to 10k in a month :)
    Where would you get it..


  • Registered Users Posts: 6,696 ✭✭✭ Grumpypants


    Hello
    Does anyone follow the crypto currency market here?
    I remember I followed the thread (https://www.boards.ie/b/thread/2057263128/75?) re Stellar Lumens about 2 years ago and saw online the market value jumped to $0.04 from $0.01 over the past week.
    I've made about 80 quid from nothing!
    What do people think of investing in crypto, apart from the obvious is volatile etc

    If you want to dip your toes, I would use coinbase. The fees are higher than an exchange like Kraken but it is much simplier.

    I've stuck to Bitcoin and ETH. I spend about €100 a month. I was buying 1 ETH and the change on bitcoin until ETH smashed through the €100 mark.


  • Registered Users Posts: 14,662 ✭✭✭✭ Dohnjoe



    These fads come along every generation. Always ends up the same way.

    Pretty profitable fad, 7 years ago Bitcoin was worth $0.05, now it's around $2,300.00. That represents one of the best returns possible on any fin. instrument in that time scale.

    Just about every major financial/banking institution is researching/developing the ledger and blockchain tech behind - and modern crypto-currencies are at the cutting edge of differing aspects of that tech and adapting to their needs (e.g. Ethereum, Ripple)

    That's worth something, and the potential they have appears to be worth a lot to the speculative market that has built up around them

    The bubble has already happened - this is the second bubble, creating a market pattern, and this one is far, far larger. When this pops, everyone will be waiting for the third

    These coins aren't companies that go bust. They aren't affected by economic downfall (if anything they are boosted by it). If they do disappear, meh.. 100% return on a basket of coins in a week? 3,000% on a single coin in a month?

    Fad or not, that can't be ignored, it creates it's own demand


  • Registered Users Posts: 14,662 ✭✭✭✭ Dohnjoe


    If you want to dip your toes, I would use coinbase. The fees are higher than an exchange like Kraken but it is much simplier.

    I've stuck to Bitcoin and ETH. I spend about €100 a month. I was buying 1 ETH and the change on bitcoin until ETH smashed through the €100 mark.

    I second this - Coinbase.com seems to be one of the most simple/solid methods of buying Bitcoin, Ethereum or Litecoin

    They also seem to be making steps towards securing holdings like a traditional bank

    "98% of customer funds are stored offline

    Offline storage provides an important security measure against theft or loss.
    We distribute bitcoin geographically in safe deposit boxes and vaults around the world."

    "All digital currency that Coinbase holds online is fully insured. This means that if Coinbase were to suffer a breach of its online storage, the insurance policy would pay out to cover any customer funds lost as a result.

    The insurance policy covers any losses resulting from a breach of Coinbase’s physical security, cyber security, or by employee theft. The policy is provided by a syndicate of insurers through Lloyd’s of London. "


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  • Registered Users Posts: 492 ✭✭ TheJackAttack


    So do you gents tend to trade with these exchanges such as coinbase (I've recently bought some ripple on bitstamp), and store/use the currency there? i.e. you're not storing them in wallets?
    I bought some ethereum with Cryptomate as I was too impatient for my kraken account (it's still not verified) to myetherwallet..
    The whole thing is fascinating!
    I'm currently holding ETH, ZEM, XRP and XLM - really want to get a hold of some bitcoin


  • Registered Users Posts: 492 ✭✭ TheJackAttack


    Dohnjoe wrote: »


    The bubble has already happened - this is the second bubble, creating a market pattern, and this one is far, far larger. When this pops, everyone will be waiting for the third
    What is your advice in this bubble?


  • Banned (with Prison Access) Posts: 1,084 ✭✭✭ Persephone kindness


    Hello
    Does anyone follow the crypto currency market here?
    I remember I followed the thread (https://www.boards.ie/b/thread/2057263128/75?) re Stellar Lumens about 2 years ago and saw online the market value jumped to $0.04 from $0.01 over the past week.
    I've made about 80 quid from nothing!
    What do people think of investing in crypto, apart from the obvious is volatile etc
    If you wouldn't invest in the company don't invest in the currency hugely right now. Some of them will be around in ten years. Some will be big Some won't.


  • Registered Users Posts: 14,662 ✭✭✭✭ Dohnjoe


    What is your advice in this bubble?

    Don't spend what you can't afford to lose

    If the bubble bursts - I strongly recommend holding, e.g. I bought a particular coin 4 years ago during that last bubble, which had been declining in value until the last 2 or 3 months, when it has rebounded and put me well into the black again


  • Registered Users Posts: 1 italia_2023


    Anyone bought NEM? Can anyone recommend where can i buy this?


  • Registered Users Posts: 492 ✭✭ TheJackAttack


    Anyone bought NEM? Can anyone recommend where can i buy this?
    Bitstamp


  • Registered Users Posts: 1,426 Neon_Lights


    I've got a tip that humaniq could be a good shout, great technology behind it no products out there on the market like it, also mysterium is having an ico next week, with the underlying technology being a block chain based vpn.

    Other than that I'm balls deep in ripple and stellar, could swing either way, I'm thinking once ripple gains more commercial traction and limits supply the price will rise.

    I see bitcoin adjusting a bit after it's record week this week so it's probably a good time to buy undervalued altcoins, with good underlying technology.

    I use poloniex and bittrex to trade and have initially funded my account through coinbase I wouldn't recommend it for larger transactions.


  • Registered Users Posts: 14,662 ✭✭✭✭ Dohnjoe


    Yeah my friend bought into the Humaniq ICO - but not so sure about it, banking for poor people? requires the latest fingerprint scan tech in smart phones and a digital currency - hmmm - but hey this is about speculative profits

    Would be possibly interested in the Kik (chat app) ICO this summer, one of the first large companies to try an ICO - could be decent investment

    Am curious to see what happens with the current dip in the market


  • Registered Users Posts: 1,426 Neon_Lights


    Dohnjoe wrote: »
    Yeah my friend bought into the Humaniq ICO - but not so sure about it, banking for poor people? requires the latest fingerprint scan tech in smart phones and a digital currency - hmmm - but hey this is about speculative profits

    Would be possibly interested in the Kik (chat app) ICO this summer, one of the first large companies to try an ICO - could be decent investment

    Am curious to see what happens with the current dip in the market

    Its the underlying technology that's driving humaniq, imagine having a bank account that you could only withdraw from with your face or eye, there's huge potential on that.

    Sure third world countries are a use case, but it would be something similar to Facebook introducing those WiFi blimps across the third world, you could make a case that they would also want to introduce these in developed countries also as a means of controlling infrastructure.

    Didn't know the kick ico is coming up will keep tabs


  • Registered Users Posts: 492 ✭✭ TheJackAttack


    I exchanged my stellar for ether - Neon Light, do you have any insight into the progression of this coin?


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  • Registered Users Posts: 1,426 Neon_Lights


    I exchanged my stellar for ether - Neon Light, do you have any insight into the progression of this coin?

    Which stellar or ether? And etherium or etherium classic?


  • Registered Users Posts: 470 ✭✭ The Oort Cloud


    I'm new to this as well, I received 50 free Stellar Lumens in 2014 and brought it up to 4,500 Lumens in a few days. I'm thinking of buying a few more as I have a feeling Stellar is going to take off well in the next few years. I'll bide my time :)

    I'm hoping that in a few years the Lumen will be worth €15. According to the latest information, Stellar has took a high, I think it is going to go a lot higher in July.

    Individual people have different thoughts and understanding in regard to others opinions, but the problem is this... there are some people out there that will do everything in their power to cut you off when they do not like your opinion even when it is truth.

    https://youtu.be/v8EseBe4eIU



  • Registered Users Posts: 14,662 ✭✭✭✭ Dohnjoe


    Interesting to see what coins fell sharply

    Stratis and Factom held very well. Golem not too bad either.

    Ripple, Nem and Lumens seemed to take steeper dives, but Ripple was definitely very overpriced


  • Registered Users Posts: 470 ✭✭ The Oort Cloud


    Don't sell any Lumens until you see the first of july. Stellar are giving a few billion free on June 27th 2017 for bitcoin holders.

    They are distributing up to 16 BILLION lumens to bitcoin holders or 16% of the initial lumens. On June 27th, 2017, we will make available these lumens to any bitcoin holder who wants them, including those that received lumens during the first giveaway round.

    Info Link https://www.stellar.org/blog/bitcoin-claim-lumens-2/

    Individual people have different thoughts and understanding in regard to others opinions, but the problem is this... there are some people out there that will do everything in their power to cut you off when they do not like your opinion even when it is truth.

    https://youtu.be/v8EseBe4eIU



  • Registered Users Posts: 1,426 Neon_Lights


    Don't sell any Lumens until you see the first of july. Stellar are giving a few billion free on June 27th 2017 for bitcoin holders.

    They are distributing up to 16 BILLION lumens to bitcoin holders or 16% of the initial lumens. On June 27th, 2017, we will make available these lumens to any bitcoin holder who wants them, including those that received lumens during the first giveaway round.

    Info Link https://www.stellar.org/blog/bitcoin-claim-lumens-2/

    Interesting will that not saturate the supply though and cause it to drop initially? Will definitely pick up some

    Ripple thinking of a SegWit style of limitation which will be announced in June apparently.


  • Registered Users Posts: 470 ✭✭ The Oort Cloud


    Interesting will that not saturate the supply though and cause it to drop initially? Will definitely pick up some

    Ripple thinking of a SegWit style of limitation which will be announced in June apparently.

    I'm not sure whether the Lumen will drop much just after the 27th June giveaway, If the price drops then it will be a good time to buy Lumens. Don't forget, it will take some time in the near future to see how well the Lumen goes, but purchasing them cheap if the price drops is a good investment, and then just wait it out for a year to see how it goes.

    I'm in for the long-haul and hopefully the Stellar Lumen becomes well established as a banking Cryptocurrency in the years to come. It could fail though, and there again it could fly with a big bank or two if they decide to use it in the years to come. It's basically impossible to predict how it will go.

    My 4,500 Lumens on Cryptocurrency Converter is now priced at...

    4500 Stellar Lumens (XLM) = 142.35 EUR

    Yesterday the price was... 4500 Stellar Lumens (XLM) = 134.96 EUR

    Individual people have different thoughts and understanding in regard to others opinions, but the problem is this... there are some people out there that will do everything in their power to cut you off when they do not like your opinion even when it is truth.

    https://youtu.be/v8EseBe4eIU



  • Registered Users Posts: 1,056 ✭✭✭ IK09


    Hey

    Im just wondering where is the best place to buy crypto and where is the cheapest place. I have setup a Coinbase account but their charging over €9 for €250 worth of Ethereum. Just thought that it was a but much., Anyone know of somewhere less expensive?

    IK09


  • Registered Users Posts: 11,255 ✭✭✭✭ jester77


    IK09 wrote: »
    Hey

    Im just wondering where is the best place to buy crypto and where is the cheapest place. I have setup a Coinbase account but their charging over ?9 for ?250 worth of Ethereum. Just thought that it was a but much., Anyone know of somewhere less expensive?

    IK09

    I take it you buying them with credit card? If you use a SEPA transfer to put the funds on your account then it is cheaper.


  • Moderators, Society & Culture Moderators Posts: 6,769 Mod ✭✭✭✭ nuac


    It's a textbook.bubble.

    People who get in early will make money..

    People who don't get out in time will get burnt.

    These fads come along every generation. Always ends up the same way.

    Agree, except I think they are coming more often than each generation.

    The 'net is accelerating the process


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  • Registered Users Posts: 6 ✭✭✭ Leechy


    Hello everyone,

    I am sure it is not necessary to buy Bitcoin investing in cryptocurrency, there are many fast growing currencies such Dash, Litecoin, Bytecoin, Nem, Zcash, etc.
    You can exchange them on Bitcoin later on if you wish to have the Bitcoin.

    Regards


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