Buying bitcoins

Zascar

pro_gnostic_8 wrote: »

I think there is ample footfall now -- and undoubtedly further interest in the future -- to justify the creation of a new cryptocurrency sub-forum on boards.ie. with room for disparate headers for the various coins and discussions.
As it is, everything crypto-related is crammed into this "Buying Bitcoin" thread on the Investments Markets sub -- and it's becoming somewhat bloated.

100% - definitely need a crypto subforum.

DeSelby83

Anyone got any suggestions for the best android wallet to keep DNT on? Bought some yesterday but don't want to leave them on liqui exchange

jester77

Binfinex not going to allow US customers, will be interesting to see what happens IOTA

machiavellianme

Surely another exchange will pick it up too. Otherwise it's hardly an Internet of Things product if it's only available to a select few on a single exchange

jobless

machiavellianme wrote: »

Surely another exchange will pick it up too. Otherwise it's hardly an Internet of Things product if it's only available to a select few on a single exchange

Another bullish night for bitcoin, 4100 dollars as I type...

pro_gnostic_8

jobless wrote: »

Another bullish night for bitcoin, 4100 dollars as I type...

We're entering uncharted waters now. The price is staggering.
Will one or two whales decide it is time to take profit and sell ?
On the other hand, will "new" money from newbs, ivestment trusts and hedge funds continue to pour in?
To Hodl or not to Hodl? What do we do?

grazinggreen

pro_gnostic_8 wrote: »

We're entering uncharted waters now. The price is staggering.
Will one or two whales decide it is time to take profit and sell ?
On the other hand, will "new" money from newbs, ivestment trusts and hedge funds continue to pour in?
To Hodl or not to Hodl? What do we do?

We haven't even began to see money come in from investment trust, pension funds etc. I'm very bullish long term and holding Bitcoin. We could easily see a correction back to 3000 in the next few days but long term I wouldn't be worried.

pro_gnostic_8

grazinggreen wrote: »

I'm very bullish long term and holding Bitcoin. We could easily see a correction back to 3000 in the next few days but long term I wouldn't be worried.

It takes balls of steel to hold at this price level, tho'.
I'm not sure I have 'em.

pro_gnostic_8

Then again, I think on what the great William Wallace would do in a case such as this.

grazinggreen

pro_gnostic_8 wrote: »

It takes balls of steel to hold at this price level, tho'.
I'm not sure I have 'em.

I'd take some profits by all means if you wish. I certainly wouldn't be getting completely out of Bitcoin though. Look back and I'll bet yuou'll see people say the same thing when Bitcoin was at €1,000 €2,000 €3,000 etc.

cnocbui

If those booster articles on CNBC bear fruit, and are right about a "wall of money" lining up to get into bitcoin, then I think these lyrics will come back to haunt those whose balls were not made of tool steel:

So I took what I could get
Yes, I took what I could get
And then she looked at me with them big brown eyes

And said,
You ain't seen nothin' yet
B-b-b-baby, you just ain't seen n-n-nothin' yet
Here's something, here's something your never gonna forget, baby
You know, you know, you know you just ain't seen nothin' yet


It is quite astonishing to hear supposed financial experts and gurus talk about ponzi and pyramid schemes in reference to Bitcoin. These are the same fish who cheerfully swim in financial seas where they or their compatriots trade in securiies called derivatives - bits of paper with a value supposedly backed by real assets.

Now there's a ponzi scheme - derivatives.

You think Bitcoin has questionable value? Make sure you sit down before you follow this link: http://money.visualcapitalist.com/all-of-the-worlds-money-and-markets-in-one-visualization/

Scroll slowly to the bottom of the page.

stevedublin

PrzemoF wrote: »

P.S. Bitcoin can't break the 3k barrier, but I guess when it does it will go to 4k quickly...

give this poster a promotion!

Thargor

Interested in hearing what other ETH holders are planning, seems to be stuck in gear around $300 while money flows into NEO and BTC, wonder if I should join them or just wait...

KilOit

Thargor wrote: »

Interested in hearing what other ETH holders are planning, seems to be stuck in gear around $300 while money flows into NEO and BTC, wonder if I should join them or just wait...

A lot of upcoming projects on ETH, the new updating off chain that they're researching is a complete game changer if they pull it off, will allow ETH to scale infinitely. ETH just grew so much so fast that it's taking a breather. ETH is still 10% of my portfolio.


This vid makes me very worried about the future, good youtuber with good knowledge on all things financial

https://www.youtube.com/watch?v=LWgBQw19JOo

Dohnjoe

cnocbui wrote: »

Now there's a ponzi scheme - derivatives.

Derivatives are actually quite important. For example, if an airline wants to hedge against a future raise in the price of fuel (which could wipe out the airline) they can purchase derivatives

There are crypto derivative markets emerging already
https://cryptoderivatives.market/

Crypto often mirrors modern finance, except that it's fueled by a completely unregulated "Wild West" market. Fantastic for speculation (and hoarding), terrible for stability.

Dohnjoe

KilOit wrote: »

This vid makes me very worried about the future, good youtuber with good knowledge on all things financial

https://www.youtube.com/watch?v=LWgBQw19JOo

Just another financial fear-merchant trying to scaremonger people into using some crypto trading method

There's going to be a future pension problem for sure, but these Zerohedge types got bored of predicting the next "big" financial Armageddon for the last 8 years, so it looks like they've switched to the pension doomsday scenario

KilOit

Dohnjoe wrote: »

Just another financial fear-merchant trying to scaremonger people into using some crypto trading method

There's going to be a future pension problem for sure, but these Zerohedge types got bored of predicting the next "big" financial Armageddon for the last 8 years, so it looks like they've switched to the pension doomsday scenario

Take it with a grain of salt, i'd never go all in but 5% in crypto and 5% in stocks is a lot more appealing to me than pension and savings accounts

cnocbui

Dohnjoe wrote: »

Derivatives are actually quite important. For example, if an airline wants to hedge against a future raise in the price of fuel (which could wipe out the airline) they can purchase derivatives

There are crypto derivative markets emerging already
https://cryptoderivatives.market/

Crypto often mirrors modern finance, except that it's fueled by a completely unregulated "Wild West" market. Fantastic for speculation (and hoarding), terrible for stability.

Great, a crypto derivatives market so we can have 300 paper bitcoins for every real one. In the case of gold derivatives, there are over 290 ounces of fake gold for every real one in existence.

You think derivatives are regulated and are not a complete 'wild west'? The blockchain makes Bitcoin a paragon of virtue compared to derivatives.

You should perhaps follow that link I provided and read Warren Buffets thoughts on derivatives if you think they represent stability.

discombobulate

Grumpypants wrote: »

I think initially they were a good funding vehicle (alternative to shares, it is the same principle). But the second start up companies saw they could raise $100+ mill in a few hours, mania took over, everyone is throwing any nonsense out there now and just saying blockchain over and over, and becoming overnight millionaires.

It is time to leave well enough alone. Sure you might make some money in a quick flip, but long term there will only be a tiny % of those companies that ever make a product at all, never mind a successful one and 99+% of those coins will be worthless.

Any day now one ICO will fail fast and people who tried the quick flip with big investments will lose a lot of money.

I got involved in an early ICO, spent 2 ETH that I had bought for €7 each on 3.7 coins. And then sold the coins for €195 each. .....but I did then spend all that profit on Antshares :pac:

I like that Antshares are now generating Antcoins for me. I've one tenth of a coin already from just leaving them sitting in my wallet.

Are you now sitting on a yacht smoking cigars and drinking champagne?

lawred2

NEO gone utterly bonkers

discombobulate

lawred2 wrote: »

NEO gone utterly bonkers

Just over a dollar a coin when that post was made. €390 in Antshares that he bought would be over 10k now!

Bawnmore

Anyone have any experience with new forum requests here? Is there a particular format to submit, or do you just put forward the idea and start gathering others to post in support?

Francie Barrett

Bawnmore wrote: »

Anyone have any experience with new forum requests here? Is there a particular format to submit, or do you just put forward the idea and start gathering others to post in support?

I am amazed that Bitcoin discussion is allowed in an investing forum. It should either go into the gambling forum, or else get a separate new crypto currency forum. I don't think boards.ie should be putting an investing layer of respectability on what some argue is a Ponzi scheme.

el diablo

Francie Barrett wrote: »

I am amazed that Bitcoin discussion is allowed in an investing forum. It should either go into the gambling forum, or else get a separate new crypto currency forum. I don't think boards.ie should be putting an investing layer of respectability on what some argue is a Ponzi scheme.

Do you have idea what a Ponzi scheme actually is?

cnocbui

Francie Barrett wrote: »

I am amazed that Bitcoin discussion is allowed in an investing forum. It should either go into the gambling forum, or else get a separate new crypto currency forum. I don't think boards.ie should be putting an investing layer of respectability on what some argue is a Ponzi scheme.

'Investing' in the sharemarket is predicated on a hope that at a future point in time, a third party will pay you more than you did because perceived value has increased.

'Investment' in property where a future gain in value is anticipated is no different than buying bitcoins.

Your thesis is risible.

The Cuban

Bitcoins are a solid investment. Over 10,000 millionaires have been made so far

alb

Francie Barrett wrote: »

I don't think boards.ie should be putting an investing layer of respectability on what some argue is a Ponzi scheme.

They don't argue it at all, they just state it from a position of ignorance.

While bitcoin is a speculative investment and not a dividend paying, cash generating business, it's pretty clear it still falls within the topic of investing for many people. Goldman Sachs report on it, Fidelity have integrated it to their investment accounts, CNBC and Bloomberg cover it on market-related shows.

At the very least you cannot deny it is a market and this is the investments & markets forum.

I'd be all for having a dedicated forum though.

SureYWouldntYa

I'd be all for a new crypto forum because I just assumed this thread was for the discussion of bitcoin alone, while it's actually the crypto thread

Having a forum and then seperate threads for btc/eth/neo etc makes a lot more sense

nsa0bupkd3948x

Bawnmore wrote: »

Anyone have any experience with new forum requests here? Is there a particular format to submit, or do you just put forward the idea and start gathering others to post in support?

I think you just put forward your idea. If you do, make sure you post it here so we can all go in and comment our support as well.

pro_gnostic_8

cnocbui wrote: »

Now there's a ponzi scheme - derivatives.

Very true !
I also think Fiat itself is a ponzi/pyramid. Only (literally) worth the paper itis printed on -- backed by nothing other than trust in the government of the day.
I think the fractional-reserve banking system is a ponzi -- guaranteeing deposits are backed by money which in actual fact it doesn't have.
I think the global economic system is the biggest ponzi of all -- built on a vast web of debt, and printing new money (paper) at will to deflect any concerns of the gullible citizens.

Dohnjoe

cnocbui wrote: »

You think derivatives are regulated and are not a complete 'wild west'? The blockchain makes Bitcoin a paragon of virtue compared to derivatives.

The derivatives markets has varying forms of regulation. Bitcoin has none.

As mentioned derivatives are important to airlines, etc to hedge against future price rises of essential commodities

DeVore

Somebody hold me.... [eek]

SureYWouldntYa

DeVore wrote: »

Somebody hold me.... [eek]

I've only got 6 and I can't stop refreshing :pac: If I had 1576 I'd have worn out my phone refreshing

machiavellianme

Crikey, when I bought at 6 dollars, I swore I'd see a year past and hopefully be somewhere around 30 - 50. But it has done that in a little over a month. Where to from here?

Zascar

Francie Barrett wrote: »

I am amazed that Bitcoin discussion is allowed in an investing forum. It should either go into the gambling forum, or else get a separate new crypto currency forum. I don't think boards.ie should be putting an investing layer of respectability on what some argue is a Ponzi scheme.

:rolleyes:

Seriously do you know anything about it whatsoever??

Please do me a favour - remember this comment - and in a few years see if your ponzi scheme hunch was correct...

Green maniac

Jamie Dimon of JPMorgan famously doomed the success of Bitcoin to failure in 2015, with a complete U turn now as one of the biggest investors in Blockchain tech, with Etherium being his biggest investment.

Dohnjoe

Green maniac wrote: »

Jamie Dimon of JPMorgan famously doomed the success of Bitcoin to failure in 2015, with a complete U turn now as one of the biggest investors in Blockchain tech, with Etherium being his biggest investment.

I remember reading him saying Bitcoin was doomed as a currency and I'd have to agree with him there

Would also agree about blockchain being huge, I don't know any large industry that isn't looking at it as a game-changer

Zascar

Any articles on his turnaround?

DeVore

I've worked adjacent to the investment industry before and let me tell you, if you think Crypto is gambling and stock investment isnt, you are mad. Stocks are just as much a gamble as Crypto. No one knows the future for certain and if you DO then there are laws about insider trading (meant) to stop you.

You can research, review, investigate and predict all you like but still a simple earthquake in a far off country can level a factory that isnt even part of the company you have invested in but is a key part of one of their key suppliers critical path and wallop, their shares arent worth eating any more. In some ways, Crypto is actually more robust as its distributed nature is such that its tougher to take out in a single incident... the maths will always work, you cant easily legislate against it!

Etherium and Bitcoin remove friction, thats what the internet does best, removes friction and middle men. I've always said it and its still true. I have no idea where its going but I'm willing to put a few quid behind the concept of friction-removal...

Now, back to watching NEO crash and then bounce and then crash and then bounce etc.

wannabecraig

Has anybody tried to buy BTC on Coinbase with a revolut card? The card registers and says I'm ready to buy,
I get a pop up on my card saying to confirm, but when I go to buy, no dice, says: You may need to call the number at the back of your card to Authorize transactions'.

Usually it send or debits a small amount of money with a code or something but I can't get it to do that.

Any ideas?

Copper_pipe

wannabecraig wrote: »

Has anybody tried to buy BTC on Coinbase with a revolut card? The card registers and says I'm ready to buy,
I get a pop up on my card saying to confirm, but when I go to buy, no dice, says: You may need to call the number at the back of your card to Authorize transactions'.

Usually it send or debits a small amount of money with a code or something but I can't get it to do that.

Any ideas?

Same problem for me

wannabecraig

Copper_pipe wrote: »

Same problem for me

I had some issues when trying to register it on Rabobank, something about the IBAN not matching the BIC's country code? Hope there is a way around this as it's a pain.

Green maniac

Zascar wrote: »

Any articles on his turnaround?

Just look at his investment in Etherium

Green maniac

DeVore wrote: »

I've worked adjacent to the investment industry before and let me tell you, if you think Crypto is gambling and stock investment isnt, you are mad. Stocks are just as much a gamble as Crypto. No one knows the future for certain and if you DO then there are laws about insider trading (meant) to stop you.

You can research, review, investigate and predict all you like but still a simple earthquake in a far off country can level a factory that isnt even part of the company you have invested in but is a key part of one of their key suppliers critical path and wallop, their shares arent worth eating any more. In some ways, Crypto is actually more robust as its distributed nature is such that its tougher to take out in a single incident... the maths will always work, you cant easily legislate against it!

Etherium and Bitcoin remove friction, thats what the internet does best, removes friction and middle men. I've always said it and its still true. I have no idea where its going but I'm willing to put a few quid behind the concept of friction-removal...

Now, back to watching NEO crash and then bounce and then crash and then bounce etc.

Bitcoin and alt coins certainly hav shown huge resilience, I think everybody was expecting a massacre on the hard fork of Aug 1st, but all bounced back well. Bitcoin breached the $4000 mark over the weekend, maybe a bubble maybe not.

NomadicGray

wannabecraig wrote: »

Has anybody tried to buy BTC on Coinbase with a revolut card? The card registers and says I'm ready to buy,
I get a pop up on my card saying to confirm, but when I go to buy, no dice, says: You may need to call the number at the back of your card to Authorize transactions'.

Usually it send or debits a small amount of money with a code or something but I can't get it to do that.

Any ideas?

Had the same problem, messaged them and I was told "In general we do not support cryptocurrency platforms so this may be causing issues with verifying the card"

DeVore

Anyone read much about IOTA... ?

KilOit

DeVore wrote: »

Anyone read much about IOTA... ?

Bought it at 20 cents, very interesting project that's completely different to blockchain, worth a punt but might be a little high right now but who knows.

Kenny Logins

wannabecraig wrote: »

Has anybody tried to buy BTC on Coinbase with a revolut card? The card registers and says I'm ready to buy,
I get a pop up on my card saying to confirm, but when I go to buy, no dice, says: You may need to call the number at the back of your card to Authorize transactions'.

Usually it send or debits a small amount of money with a code or something but I can't get it to do that.

Any ideas?

Card has to support 3D secure, and Revolut doesn't.

Zascar

DeVore wrote: »

Anyone read much about IOTA... ?

Yes, that's my next buy. Very cheap and super early days but could be absolutely massive: https://www.reddit.com/r/CryptoCurrency/comments/6t0ny8/iota_just_hit_an_alltime_high/


Dev can we please have a Crypto Forum???

Green maniac

DeVore wrote: »

Anyone read much about IOTA... ?

IOTA looks like a very interesting proposition to me.