nav[aria-label="Primary Navigation"] { padding: 0; & ul { list-style: none; width: 100%; display: flex; flex-direction: row; justify-content: start; align-items: start; gap: 30px; padding: 0; & li { margin: 0; } & ul li { list-style: none; } } }

Child Item

Buying bitcoins

brendan86

Heh guys,

I've been doing a bit of research the last week into buying bitcoins.. I want to buy 1k worth, I know it's risky but I have it to spare and might just see how it goes for a year or so..

I have currently registered on mtgox.com and am awaiting approval on my Id verification.. Has anyone dealt with this site have any info for me?

If I put my money on mtgox that means I have to trust them with my bitcoins is this correct? I won't have to have a wallet on my computer?

I'm just basically asking for advice, it's what I want to do but if someone can explain the best way about it that knows more than me I would appreciate it

Thanks

Brendan

Find more posts tagged with

Quick Links

Comments

cnocbui

Thargor wrote: »

What do you think stinks about ETH? Not that Im worried I think its safe enough until BTCs issues are sorted in August anyway.

A link was posted a few pages back, to an article that may answer the stink question: http://www.boards.ie/vbulletin/showpost.php?p=103783488&postcount=1775

cnocbui

Supercell wrote: »

The ETH founders prostituting themselves to all and sundry and not focusing on their own product, reminds me of the monorail guy on the Simpsons. Too much fervent spin, hope I'm wrong, but the moment ETH starts tanking, I'm out.

XRP on the other hand has real potential but the guys that made it own so much of it they can totally manipulate the market (allegedly saying they will give 75% of it away..). XRP should be doing what ETH is doing but its not .

Stratus, Dash and Monero are worth watching (maybe have some quality to them), but they don't have the volumes of ETH so are crazy volatile.

Basically, if most of the tokens aren't in the market or mineable, but rather are pre-mined and in the wallets of the ICO pushers, then one should be skeptical - IMO. Gnosis being very much a case in point.

makeorbrake

Supercell wrote: »

XRP on the other hand has real potential but the guys that made it own so much of it they can totally manipulate the market (allegedly saying they will give 75% of it away..). XRP should be doing what ETH is doing but its not .

Are they not players in the establishment banking sector? So they can manipulate it on a whim? Is there an actual limit in Ripple? Even if there isn't, the amount available / in circulation is ridiculous.

Secondly, are ETH and XRP not in different markets in any event? Isn't ETH all about providing a platform for dApps?...rather than to act as a currency or store of value?

Supercell wrote:

Stratus, Dash and Monero are worth watching (maybe have some quality to them), but they don't have the volumes of ETH so are crazy volatile.

I'm not fully up to speed on these but in the case of Dash, I found it interesting that irish Fintech company - bitcart.io switched completely from bitcoin to dash within the past 10 days out of total frustration with bitcoin. I don't know anythign about stratus -but my understanding is that dash and monero are in existence to act as a currency.

cnocbui

No, ripple is very much like Etherium and incorporates smart contracts. The pushers even responded to the problem of unreleased tokens by locking them up in Ripple contracts, maturing on a known time frame and releasing the contained tokens at a predictable rate.

makeorbrake

cnocbui wrote: »

No, ripple is very much like Etherium and incorporates smart contracts. The pushers even responded to the problem of unreleased tokens by locking them up in Ripple contracts, maturing on a known time frame and releasing the contained tokens at a predictable rate.

Ok, but are the main stakeholders in XRP not establishment banks (or those involved in establishment banking) - who hold the balance of power and can manipulate the 'currency' at a whim?

Dohnjoe

makeorbrake wrote: »

Ok, but are the main stakeholders in XRP not establishment banks (or those involved in establishment banking) - who hold the balance of power and can manipulate the 'currency' at a whim?

As far as I know, Ripple introduces blockchain tech to banks (like Santander), the banks themselves don't use the coins (XRP) that are traded in the crypto market

makeorbrake

Dohnjoe wrote: »

As far as I know, Ripple introduces blockchain tech to banks (like Santander), the banks themselves don't use the coins (XRP) that are traded in the crypto market

Yes, I guess this was my understanding also - and that it was centralised - which to me, goes against the whole spirit and reason for crypto's in the first instance. Don't get me wrong. I accept that there may be implementations that help to create synergies in terms of inter-bank transfers. However, it doesn't compare with the likes of bitcoin in terms of the nature of it's use.

SteelyDanJalapeno

Tiny bit of stability now for the last 24hrs, is 340 the new floor?

lawred2

TiltedBrain wrote: »

Tiny bit of stability now for the last 24hrs, is 340 the new floor?

yeah - seems to be holding between 340 - 350 for the last while

My DGBs and XRPs took a turn for the better in the last 24 hours as well which was nice to see

Mr. Manager

Anyone know anything about IOTA? I'm not really tech savvy so if someone could kindly explain it to me like I'm 5 years old that would be great.

I've tried to read this article a heap of times but it may as well be Chinese - https://www.cryptocoinsnews.com/iota-token-has-record-breaking-launch-on-bitfinex/

lawred2

Am I reading it right? $488 IOT/USD??

SteelyDanJalapeno

Mr. Manager wrote: »

Anyone know anything about IOTA? I'm not really tech savvy so if someone could kindly explain it to me like I'm 5 years old that would be great.

I've tried to read this article a heap of times but it may as well be Chinese - https://www.cryptocoinsnews.com/iota-token-has-record-breaking-launch-on-bitfinex/

I read it's predicted to crash hard if thats any help

iwantthat

Hold from investing now... it will drop a lot... just watch it. In the mean time QRL is a good ticker. I invested 5 days ago at .50c. Gone past 1.10 now. Have a look.

Mr. Manager wrote: »

Anyone know anything about IOTA? I'm not really tech savvy so if someone could kindly explain it to me like I'm 5 years old that would be great.

I've tried to read this article a heap of times but it may as well be Chinese - https://www.cryptocoinsnews.com/iota-token-has-record-breaking-launch-on-bitfinex/

sudaltsov

Is there any bank in Ireland offering cryptocurrency-related investments (covering risks for a price, of course)? Or is totally wild online so far?

lawred2

and we're through the 340 floor again

makeorbrake

sudaltsov wrote: »

Is there any bank in Ireland offering cryptocurrency-related investments (covering risks for a price, of course)? Or is totally wild online so far?

Lol...no - they don't really want to go down that road...despite the spin they're trying to put on it with their 'innovation centres', etc.

Dohnjoe

sudaltsov wrote: »

Is there any bank in Ireland offering cryptocurrency-related investments (covering risks for a price, of course)? Or is totally wild online so far?

Not that I know of. But in Europe, some institutions are starting to offer ETNs and funds based on cryptos - its slow but it's happening

In the US, institutions can buy cryptos in a regulated and fully compliant new exchange - Gemini.com

Once there are more of these, I reckon we'll really see market cap explode in size

Dohnjoe

lawred2 wrote: »

and we're through the 340 floor again

Another case of "Buy on the rumour, sell on the news"?

EEA conference 14/15 June, happened during the last conference too

The coin may not be predictable, but large groups of traders follow particular patterns

machiavellianme

What's likely to come out of that conference?

PopePalpatine

lawred2 wrote: »

and we're through the 340 floor again

Well sh*t, I just bought €25 of ETH first thing this morning at nearly €370/ETH when Coinbase's fee is taken into account. I guess it's time to HODL. :pac:

el diablo

Interesting.......

https://www.youtube.com/watch?v=vPHMPBxK7k0

Blacktie.

PopePalpatine wrote:

Well sh*t, I just bought â‚¬25 of ETH first thing this morning at nearly â‚¬370/ETH when Coinbase's fee is taken into account. I guess it's time to HODL.

So you're down 2.50? Just don't buy a mars bar today. Back in the green.

lawred2

Mr.S wrote: »

Anyone else with some XRP? Lots of chatter going on about it in the last 48hrs.

Yeah me.. It's bobbing along

PopePalpatine

Blacktie. wrote: »

So you're down 2.50? Just don't buy a mars bar today. Back in the green.

More like 0.04ETH, or about €14, because I sold hoping that I was cashing out at the start of a dip...only for ETH to stop dropping a few minutes afterwards, which is when I bought back in. Lesson learned.

EagererBeaver

PopePalpatine wrote: »

More like 0.04ETH, or about €14, because I sold hoping that I was cashing out at the start of a dip...only for ETH to stop dropping a few minutes afterwards, which is when I bought back in. Lesson learned.

You whacked in 25 euro and at the first sign of a dip you bailed?

lawred2

Most of that 25 was probably eroded in transaction fees

PopePalpatine

EagererBeaver wrote: »

You whacked in 25 euro and at the first sign of a dip you bailed?

Yes. I checked the price when I bought, and at 5pm I checked this thread and saw lawred's comment and got spooked, and also thought I could buy back in after the price had dropped to €250-300/ETH. I just have a nagging doubt in the back of my head worrying if I've bought in right as the bubble bursts, as if I bought a house in 2008. I've only invested €130 so far, it wouldn't cripple me if it ended up up the nostril of some Wall Street asshole who got lucky and sold to me right before a crash.

EndaHonesty

PopePalpatine wrote: »

Well sh*t, I just bought ?25 of ETH first thing this morning at nearly ?370/ETH when Coinbase's fee is taken into account. I guess it's time to HODL. :pac:

You're worse then Mint Aero!

How much have you "invested" in crypto?

Edit: just saw the post above. You're not investing you're placing bets!

If you're serious buy 1 coin, whichever one you fancy and sit on it.

I bought 12 btc in 2013 for 1k, mainly for silk road, but I've sat on them and they're worth nearly 23k now... 10 left...

pro_gnostic_8

PopePalpatine wrote: »

I just have a nagging doubt in the back of my head worrying if I've bought in right as the bubble bursts,

Maybe, maybe not ! Who knows -- nobody. Genuinely.
What I do think, tho', is that the period of exponential price rises in ETH is over.

Secondly, I strongly urge you to note the advice of the poster above me -- select one particular coin (after due diligence and research) -- and sit on it.
What you are doing now is just betting. Trying to read and then pre-empt the market will get you rekt -- financially and emotionally. You won't win in the end, that's for sure. HODL.

Thargor

Bit of a selloff in ETH atm but its not a surprise really after the last few days.