Bitcoins - still worth the gamble ? Anyone got a time travel machine ?

worded

Anyone thinking of buying any ?

any advice ?

dashoonage

Bitcoins...

Na no one round here into that stuff.....magic beans is where its at.


http://www.boards.ie/vbulletin/showthread.php?t=2056909179

Brussels Sprout

worded wrote: »

Anyone thinking of buying any ?

any advice ?

There's a fundamental change to the technology happening in August. Nobody's quite sure how this will affect the market. Best wait until that has happened before buying any Bitcoin. Plenty of others out there though.

The Cuban

worded wrote: »

Anyone thinking of buying any ?

any advice ?

I don't have a time machine unfortunately but if you look back on the past there are examples of similar situations.
For example the railroad boom in the US during the 19th and early 20th century, that must have had the same arguments for the technology as we are having for Bitcoin. I.E its new, its gonna change transportation forever, its a disruptive technology, we shall never return to the horse and cart etc You will be able to move huge volumes thousands of miles quickly etc etc
Along with it costs little to run, its cheap fast,secure and reliable.

Hundreds of Railroad companies were formed all with the promises of fortunes to be made yet nowadays none of these companies exist today, most went Bankrupt, they just didn't produce enough profits even though the railways did become mainstream. And much like Bitcoin, it was the early adopters of the Technology who made the most money as they got out early.

pro_gnostic_8

A gamble, yes, but Fox News yesterday thinks that it is one that could pay out bigtime!
Even the most enthusiastic bitcoin maximalist would find this figure a tad optimistic, surely?

"Bitcoin ‘Going To Moon,’ Could Reach $1 Billion: FOX News"

TheJackAttack

Brussels Sprout wrote: »

worded wrote: »

Anyone thinking of buying any ?

any advice ?

There's a fundamental change to the technology happening in August. Nobody's quite sure how this will affect the market. Best wait until that has happened before buying any Bitcoin. Plenty of others out there though.

What's the lo-down on this change? What is it proposing?

worded

And if the change is a possitiv Change will the price rocket ?

worded

The Cuban wrote: »

I don't have a time machine unfortunately but if you look back on the past there are examples of similar situations.
For example the railroad boom in the US during the 19th and early 20th century, that must have had the same arguments for the technology as we are having for Bitcoin. I.E its new, its gonna change transportation forever, its a disruptive technology, we shall never return to the horse and cart etc You will be able to move huge volumes thousands of miles quickly etc etc
Along with it costs little to run, its cheap fast,secure and reliable.

Hundreds of Railroad companies were formed all with the promises of fortunes to be made yet nowadays none of these companies exist today, most went Bankrupt, they just didn't produce enough profits even though the railways did become mainstream. And much like Bitcoin, it was the early adopters of the Technology who made the most money as they got out early.

Agreed I'm a bit late to the table

Might have a little dabble thought

Blacktie.

TheJackAttack wrote: »

What's the lo-down on this change? What is it proposing?

Right now bitcoin is getting crushed by the amount of transactions passing through it so confirmations are taking much longer than they should. A victim of it's own success. On August 1st they're talking about doubling the capacity but the community is very split on this. Majority of miners need to agree on this switch by then and if they don't then bitcoin will split into bitcoin classic and bitcoin unlimited. The other section of the community want the limit completely removed. That's the unlimited faction. No idea which way it will go so I've transferred to ethereum for the moment. Will probably stick it out with eth as I believe it has better potential.

worded

Any advice / recomendarions on where to buy digital coins?

Thanks

KilOit

worded wrote: »

Any advice / recomendarions on where to buy digital coins?

Thanks

Coinbase.com high fees but simple to use if not familiar with Crypto
can only buy Etherium, bitcoin and litecoin on this site

If you buy any of these 3 Crypto's you can exchange them for other more volatile and potentially higher reward coins on Bittrex.com

recommend you spend a good few hours researching this market, it'll eat you alive if you're not up to speed on the workings of it

Blacktie.

worded wrote:

Any advice / recomendarions on where to buy digital coins?

I use allcoindirect. I wouldn't use coinbase as I've heard about their ****ty customer services. Also if you don't have your own wallet and just use coinbase they own your private keys which really goes against the whole principle of cryptocurrency.

worded

Blacktie. wrote: »

I use allcoindirect. I wouldn't use coinbase as I've heard about their ****ty customer services. Also if you don't have your own wallet and just use coinbase they own your private keys which really goes against the whole principle of cryptocurrency.

I want as much control over my € as possible.

People getting hacked out of thier bitcoin years ago put me off buying

Blacktie.

worded wrote:

I want as much control over my € as possible.

Exactly. Look into cold storage or a hardware wallet. The safest options.

worded

Blacktie. wrote: »

I use allcoindirect. I wouldn't use coinbase as I've heard about their ****ty customer services. Also if you don't have your own wallet and just use coinbase they own your private keys which really goes against the whole principle of cryptocurrency.

Hi, any www for all coin direct pls?
Not finding anything obvious for them like .com

Thanks

Blacktie.

It's a .Eu

LionelNashe

Blacktie. wrote: »

Exactly. Look into cold storage or a hardware wallet. The safest options.

Seems like it:

http://thehackernews.com/2017/07/bitcoin-ethereum-cryptocurrency-exchange.html

"One of the world's largest Bitcoin and Ether cryptocurrencies exchanges Bithumb has recently been hacked, resulting in loss of more than $1 Million in cryptocurrencies after a number of its user accounts compromised..."

worded

Blacktie. wrote: »

It's a .Eu

You mean this site - https://anycoindirect.eu ?

Thanks

Blacktie.

worded wrote:

You mean this site -

Yep. I keep say allcoindirect to people. It's just stuck in my head as that for some reason!

worded

Blacktie. wrote: »

Yep. I keep say allcoindirect to people. It's just stuck in my head as that for some reason!

No worries ... https://anycoindirect.eu/

It looks good

reading up about hardware wallets to avoid this

https://thehackernews.com/2017/07/bitcoin-ethereum-cryptocurrency-exchange.html

I dont see cold storage anywhere ..

Interesting stuff

Blacktie.

worded wrote:

I dont see cold storage anywhere ..

Google it and check out YouTube. A lot of good info there.

Zascar

I have set up a Coinbase account but have heard bad things about customer service and site going down, slow withdrawals. Will look into anycoindirect, any others that come recommend?

OP imo bitcoin is a very long play. Buy now in the hope that in several years it may do something. Buying for short term gains is very risky. Have a read of this: https://seekingalpha.com/article/4070697-buy-one-bitcoin-forget

The other option is some of the other coins like Ethereum and Litecoin etc - there are dozens more too. Possibly worth a punt with a small amount on a few

worded

Bitcoin drop in value

http://www.coindesk.com/bitcoin-price-drops-near-2000-crypto-markets-fall-toward-70-billion/

petethedrummer

Two articles against bitcoin:
https://blog.plan99.net/the-resolution-of-the-bitcoin-experiment-dabb30201f7
https://www.yanisvaroufakis.eu/2013/04/22/bitcoin-and-the-dangerous-fantasy-of-apolitical-money/