Cryptocurrency investing

 Hi all 

Are there any cryptocurrency investory/dabbles on here I'm thinking of having a bit of a crack i have a few friends who have been doing it for a while but I still don't understand It enough to jump straight into it.

Cheers

Rod


gruntre69's picture

Posts: 475

Date Joined: 15/10/16

 I signed up for an account

Sat, 2017-12-30 15:54

 I signed up for an account today.... I'm willing to play around with a small startup fund and see what happens... Bit of gambling really for me...

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backlash's picture

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I’m into it

Sat, 2017-12-30 16:00

send me a pm and I’ll send you some information.

as with all investing there is no guarantee and you have to be prepared for losing it as it is volatile.

saying that I’ve put some money in.

im not a huge investor....just having a play.

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Date Joined: 01/02/10

I've got a fair bit in. Swing

Sat, 2017-12-30 16:07

I've got a fair bit in. Swing trading mostly. Also bought into a software company that has a prediction bot and portfolio management tools.

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Does anyone know where the love of god goes, when the waves turn the minutes to hours?

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coinspot

Fri, 2018-01-05 20:21

 i signed up for a coinspot account, just a bit of a play around. am going to buy some TRX, but want to hold off as there are so many wallets on the website. Have no idea where they will go after i buy them?

Jackfrost80's picture

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Aye mate, just wait for

Fri, 2018-01-05 20:43

Aye mate, just wait for Bitcoin to head north again before you place money on alt coins. Have a look at the effect it had on them earlier in the week on 2 Jan

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If catching wrasse is cool, consider me Miles Davis

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ok

Fri, 2018-01-05 20:48

 thats a good idea, but still dosent answer my question about coinspot. Which wallet do i use? or do they have a wallet or the coins go into?

Jackfrost80's picture

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I thought you were asking

Fri, 2018-01-05 21:33

I thought you were asking where trx would go after you buy them...

I use Poloniex and my coins sit in a wallet on their exchange with orders set for sale at a certain level.

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roddo's picture

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 Cheers guys what exchange

Sat, 2017-12-30 16:18

 Cheers guys what exchange does everyone use coinspot?

And are all wallets the same or are there some safer then others.

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I use bittrex to trade and

Sat, 2017-12-30 17:16

I use bittrex to trade and cash out using living room of satoshi.

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backlash's picture

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CoinJar

Sat, 2017-12-30 17:49

 I use coinjar

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crypto

Sat, 2017-12-30 19:04

 get on ripple!

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crypto

Sat, 2017-12-30 19:07

 dont say u wernt told!

 

backlash's picture

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 there are a lot of crypto's

Sat, 2017-12-30 19:11

 there are a lot of crypto's getting traction at the moment

thanks for the heads up - I'll do some research on ripple (as well.....)

this is way more interesting than my lithium investing - but also far more volatile....

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the dark side of ripple

Sun, 2017-12-31 21:07

I believe, Ripple is the opposite of what Bitcoin and most alt currencies are and represent.
Investors in Ripple should be aware that over 60% of the XRP coins are being held by Ripple.
That is, Ripple is centralised, mostly owned and controlled by Banks and Banking type partners.
There is little to no transparency of the richest XRP wallet holders.
Buying this coin is a vote against the underlying concepts and attractive attributes of Bitcoin, (ie. unregulated, P2P network, a big finger to the banks).

That is, investing in Ripple may be profitable, but much like investing in one of the many available crypto Ponzi schemes (eg. BitConnect), ultimately you will be contributing to the downfall of Bitcoin and other good cryptos.
Just my opinion.

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Dont touch

Sat, 2017-12-30 21:18

 the currency. Invest in the Block Chain Apps

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How

Sat, 2017-12-30 21:19

 how do you do that

Jackfrost80's picture

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I got a mate who lives and

Sat, 2017-12-30 22:27

I got a mate who lives and breathes it. Nothing huge but so far he got me onto Ethereum at $350, Ripple at $0.35 and Bitshares at $0.4.

Already (perhaps mistakingly) used my Ripple last week to buy Synereo and Digibyte but my Bitshares are a long term investment. Going to soon cash out my Ethereum to buy some EOS..

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Happy new year , baaaa.

Sun, 2017-12-31 07:51

Easy answer is get divorced, all these questions answer themselves, haha

I get work guys all the time whinning about how they can only salary sacrifice so much , or there not sure which shares to buy

or which cripto should they throw another 20k at  ( I believe there are around 700 different ones now)     And I just tell em , mate Im set , I just dont have these worrys 

Im hoping to pay the modest car off by 2025 and the kids will need to take over the morgage, but I have invested in two blocks of mulies which will need to last to april!

whammee.

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quadfisher

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Haha, Im hearing ya!

Thu, 2018-01-04 11:58

Haha, Im hearing ya!

Jackfrost80's picture

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Perhaps not 

Mon, 2018-01-01 14:52

Perhaps not 

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Rob H's picture

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 It certainly is the talk of

Sat, 2017-12-30 23:02

 It certainly is the talk of the town at the moment.

im looking at it with interest, but not seeing whereabouts the value is in it just now.

im hearing all about how great it is but only because it’s going up.

It does not seem easy, safe or simple to use and not one of the people I know who has bought, has done so except in the hope it will be worth more.

im also hearing that “there will only be 21 million so they must go up” but there seem to be multitudes of new ICO’s being released and hence there would seem to be an unlimited number of coins of various incarnations able to be produced.

My thoughts are, that while crypto probably is the way of the future, most will drop away burning the mums and dads.

Hence, just like picking shares, not everyone can be a winner?

Im not a disbeliever, more a sceptic maybe?

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 Give a man a mask, and he'll show you his true face...

 

 

The older you get the more you realize that no one has a f++king clue what they're doing.

Everyone's just winging it.

 

Jackfrost80's picture

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Spot on Rob. If you're just

Sat, 2017-12-30 23:21

Spot on Rob. If you're just hearing about it now then you're in the bubble so treat it like the Melbourne Cup and only lay down what you're prepared to lose.

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If catching wrasse is cool, consider me Miles Davis

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You all know who Warren Buffet is?

Sun, 2017-12-31 03:20

 More than 20 years ago, during an interview, he said "When your taxi driver, or local mechanic, starts to tell you about what to invest in. It's time to get out"

Wise words from one of the richest men in the investing game. 

Like Jackfrost said, Melbourne cup money only for the next few months if you are not already in there. When things settle and drop to pre hype levels then the investing can start.

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 Sometimes when the water is quiet, you can hear the fish laughing at you !

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 Very wise words indeed

Sun, 2017-12-31 14:28

 Very wise words indeed

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Gambling not investing

Sun, 2017-12-31 07:34

Sceptic Warning!

To me it seems a close to Pyramid scheme with an added hint of speculation & gambling as you could get. The 1-2% of the people who own 85% of the bitcoin will get filthy rich at the cost of the Mum & Dad investors. All of their bitcoin wealth is inflated/created bitcoin growth but its everyday people hard earned dollars that is driving the prices up and financing the huge realworld "cash" payouts.

All of the media coverage and hype around this is by no means an accident and all designed to drive the price up. If it looks like a duck & quacks like a duck... Chances are its a duck!

My advice would be to not spend anymore that you would be prepared to chuck down at Crown Casino over a weekend, and chance are that would provide more enjoyment!

Bitcoin investors are like Vegans & Gamblers... You wont be able to walk past one in the street with them telling you that they are one and just how much they have made (never hear about the losses)

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Sun, 2017-12-31 07:23

 I read somewhere recently that they need several super computers to make all this happen, and most of them are in China, so if the Chinese decide to pull the plug, then that’s it.

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 Chinese did pull the plug

Sun, 2017-12-31 07:31

 Chinese did pull the plug for a bit a few months ago. Regulated the exchanges and came back online. 

Interesting to see banks and governments getting involved and backing certain players. Regulation and mainstream adoption is not all that far away. 

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 Its the big banks of the

Sun, 2017-12-31 07:39

 Its the big banks of the world that will end up driving or crashi g the market in my opinion thats why I'm still very unsure about it. It' to easy for banks to maje big moves like this week where all our major banks have halted all payments to coinspot. It will be interesting to see where it goes.

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I've been watching cryptos

Sun, 2017-12-31 08:26

 For a long time but won't touch it, much rather risk my money in things around it like bpg which will set up stock exchange in Brisbane for cryptos. I got a lot more excited about junior lithium colbat zinc stocks, auz, asn, avz

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Stay salty

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Yep

Sun, 2017-12-31 08:49

 good idea to spread your investments into high risk, low and medium risk.

im also into some speculative lithium stocks as you’ve highlighted.

theyre more of a long term play as by 2030 in Europe and especially in China there will be very few petrol or diesel driven vehicles. They will mostly be electric.

and Australia has good lithium cobalt scandium and graphite deposits.

the Chinese are buying into all they can as they can see where the ev motor vehicle situation is heading , and in China at least they will issue an edict eventually that will force everyone to switch to ev vehicles.

not that I’m a communist but when you have a communist government huge policy changes aren’t a huge issue if you’re u know what I mean

MT's picture

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Its a Scam - Avoid

Sun, 2017-12-31 09:42

I first learnt about bitcoin way back in 2009, interestingly enough whilst I was a stockbroker / derivatives trader watching the whole financial world crashing down on my screens during the bottom end of the GFC market rout at the time.

My opinion of these things of all things cryptocurrency is that they are a scam.

Private entities cannot create their own sovereign monetary system, all in history that have tried have failed. The only uncertainty in this equation is the timing of when this all blows up badly, and its my opinion (for what its worth), that when blokes on fishing websites start talking about investing in new financial innovations its definately a market top and time to get out of the market.

For anyone that knows about techncal analysis the chart will confirm that, a huge head and shoulders in BTC and about to breakdown lower in price bigtime!

The technology that all this is all based on is highly dubious, no-one outside of bitcoin and other crytocurrency innovations (read scams) is using this technology anywhere in practice, despite many claims to the contrary.

See here - https://hackernoon.com/ten-years-in-nobody-has-come-up-with-a-use-case-for-blockchain-ee98c180100

Companies like ripple have very different technolgy in the works and these will change some systems in the way that banking functions but by no means will we be seeing or using new currencies other than ones currently issued by sovereign governments.

FOMO and getting caught up in the hype of the crowd has never in history been a wise investment decision. The smart guys who got in early will win, the majority of mug punters will lose.

Thats the way markets work.

If you've not made money in this cryptomarket market up to now the odds of it happening for you from here are growing increasingly slim.

Just trying to save a few from losing their shirts by writing this, cryptocurrency it is not all that it is hyped up to be.

Caveat Emptor

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 I think the word scam is

Sun, 2017-12-31 10:06

 I think the word scam is very strong and likely incorrect. The underlying technology blockchain could very well be the future (and I agree that it also might not be). New tech start ups are using this underlying technology as the basis for new systems and hence the crypto market - conducting capital raising to fund the start ups by selling tokens (not shares) that can be used when the system is finished, as well as other payment methods.

 

At least that is my understanding - to me there looks to be some very valid uses for blockchain. 

 

But as with everuthing, there are some ICOs that are complete scams. That is where research is needed.

 

I certainly don’t think I have a great grip on this all yet, and I only have a very small amount invested/gambled simply to give me motivation to learn. So I’m not biased one way or the other.

MT's picture

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The coins are a scam

Sun, 2017-12-31 11:07

I'll back that call all day long against the biggest, angriest mob the entire crypto universe can muster to shout it down.

But it's good that your taking the time to learn about it. In that respect here is something you may or may not be aware of which have informed my opinion on the matter;

These coins are not regulated and offer you no potential for a return, they are not claims to future earnings as a stockholding in a company is. i.e claims on dividends. They do not have rights to future interest payments as a bond investment does. These coins do not entitle you to any future return at all. The only potential they have for profit is that someone will buy them off you in future at a higher price.

That is not an investment, it's a ponzi scheme (google it if you dont know what it is).

The belief that these could ever become viable currencies so laughable i'm not going to bother going into it, however if your interested with that aspect I suggest you read our nations constitution regarding who has the right to mint money and then google how it has faired for those that have tried ignore this facet of the law in the past.

The technology, as stated, is dubious. That may change in future but it seems unlikely because the only way that blockchain technology actually works, and we are talking here about publically distriuted ledger blockchain technology, not privatly centralised blockchain technology that some banks are developing (the distinction is very important, suggest doing some research here too), is if it happens in its own currency.

And operating in your own currency as stated above, and written into our (and almost every other nations) constitution, simply cannot happen.

Hence cryptocurrencies cannot, and will not ever work on a large enough scale to care about. (God forbid ever invest in!)

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 So it’s a pattern for Perth

Sun, 2017-12-31 18:06

 So it’s a pattern for Perth Lord Mayor to be a scammer?

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lastcast's picture

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Crypto

Sun, 2017-12-31 11:10

 It's a bubble but the underlying tech does have a future.

That's why the asx is moving to blockchain for example.

The question for the currencies (1200 of them now) is what utility do they actually have.

Personally, for this reason, I have invested in ivykoin (not yet public).

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 This is what I was hoping

Sun, 2017-12-31 11:35

 This is what I was hoping this post would produce some excellent points of view. Defenatly has me thinking again.

 

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 Warning lights have been

Sun, 2017-12-31 11:47

 Warning lights have been flashing for me with all the media coverage, then I saw this thread start and got the full alarm.

I wonder how our fiat currencies survive with nothing to back them and governments using them as a tax via inflation and nothing to back them.  Unless there is something tangeable to back this crypto currencies I would go with MT, although the experienced trader might o ok.   Money that can be created from nothing always loses value over any decent time frame.  IMO

Cheers
Rod

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40% up on xvg so far today.

Sun, 2017-12-31 13:41

40% up on xvg so far today. Stop loss set nice and tight. Gonna be a wild ride.

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Does anyone know where the love of god goes, when the waves turn the minutes to hours?

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Remember Enron

Sun, 2017-12-31 13:56

The bigger they are the harder they fall.

Rob H's picture

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 There may be differences

Sun, 2017-12-31 18:35

 There may be differences between this and other investments, but one thing cannot. 

You have made nothing until it is sold.

I, and many others learnt that along time back.

The other thing is, you cannot gain unless someone is losing, so who is"selling" all this "coin"?

The hardest thing with any investment is not when to buy, it's when to sell.

So what is the strategy here?

 

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 Give a man a mask, and he'll show you his true face...

 

 

The older you get the more you realize that no one has a f++king clue what they're doing.

Everyone's just winging it.

 

Jackfrost80's picture

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Couldn't help myself

Sun, 2017-12-31 20:37

 

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If catching wrasse is cool, consider me Miles Davis

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Please research

Sun, 2017-12-31 22:47

I'm reading a fair bit here that is not very accurate.
If you don't like my comments, no worries, just research, there is plenty of information on the internet.

But some quick points I feel need correcting;

@dodgy, re: prediction bots; if they were that good, the owners wouldn't need your money. Most websites claiming to use prediction bots are basically ponzi schemes. eg. laser.online scammers took over $200million in November. Yep they paid out about 30million to those they scammed to look legit, but ultimately, they shut it down and ran with the $200million+. As a general rule, if you aren't getting a wallet with coin addresses that you can explore on that crypto's blockchain, and transfer and trade to and from other exchanges, then you are open to being scammed.

@robh, re: only 21million coins; the original Bitcoin (BTC) will only ever have 21million coins mined, expected to be completed around the year 2140 (don't confuse Bitcoin with other alternate cryptos). Currently, almost 80% of Bitcoin coins have been mined. Many of them may be lost (estimated one third). Bitcoin, although unregulated, is protected by the bitcoin community which mines the coins (and processes transactions). They have the major say in the upgrades and changes to the Bitcoin currency. The total computing power of the peer to peer global miners is currently about 1000 times more powerful than the world's most powerful supercomputer (in terms of simple Hashes per second processing power). This is what protects Bitcoin. Other cryptos (over 1300) don't have that level of protection.

@Darren253, re: 1-2% own 85% of Bitcoin; there are now over 20million bitcoin addresses. The majority of those have less than $100 of value. A little over 700,000 addresses contain 1 or more BTCs. The top 100 addresses own less than 20% of bitcoin. This data is publicly and transparently available on the internet (unlike the likes of Ripple, regulated and influenced by it's banking partners).

@dale, re: they need several super computers to make all this happen; see my comments to robh, that is, no supercomputer is anywhere near powerful enough to have any effect on the Bitcoin blockchain, other cryptos ... maybe.

@dodgy, re: regulation; there are currently over 7000 crypto markets. They can't regulate them all. If they could, they would have already.

@roddo, re: big banks; the banks can only have a major influence if investors let them. That is, via the likes of bank regulated alternate cryptos like Ripple. Many existing Bitcoin holders and possible investors are being sucked in to other alternate cryptos. Bitcoin's share of the total crypto market captilisation is now below 40%. A month or two ago, it was closer to 60%. This is what the banks/regulators/big boys want, which is why they rotate the pump (and dumps) of the smaller capitalised alternate cryptos.

@MT, re: It's a scam; Pardon me, but why would anybody listen to somebody claiming to be a derivative trader (especially one who refers to charting) who has been declaring Bitcoin a scam since 2009. You have been proven wrong for 8 years now. You and those listening to you have missed the opportunity to make millions. Your establishment mindset struggles to comprehend how the small man can give your likes the bird and choose to adopt a global currency that does not require the permission of a nations constitution. Bitcoin has been used as a global currency for several years, even if it is now being mainly used as a storage of wealth (like gold is).

Lastly, Bitcoin has some current limitations. Other alternate cryptocurrencies offer cheaper and faster transactions. But Bitcoin will continue to improve with time. With successful changes to Block sizes and implementation of lightning network solutions, Bitcoin will be able to provide for ultra fast micro payments.

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 It’s a trading tool that

Mon, 2018-01-01 06:35

 It’s a trading tool that looks at volume and price increases of alt coins against btc. Prediction data goes to a discord channel where it is cross referenced by ta, automatically cross referenced to pump and dump groups, reddit announcenents, twitter feeds etc. can establish whether growth is natural or a pump and dump. 

Doesnt trade for you, just points you in the direction that you should be looking. Quite a few career traders using it now. 

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Does anyone know where the love of god goes, when the waves turn the minutes to hours?

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 Nup. I punt on the horses

Mon, 2018-01-01 05:50

 Nup. I punt on the horses but there is no way I'd risk my money on crypto currency. The idea scares the shit out of me. You're better off playing around with ASX 300 shares. Most of the shares I've bought that have gone down eventually make money. 

 

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Mulie

timboon's picture

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  Mulie that is a classic

Tue, 2018-01-02 22:12

 

 Mulie that is a classic comment.... I can picture you sucking on a durrie knocking back a woodstock can as you wrote that.....

 

Some good points made above, BITCOIN will survive it is now a very handy purchasing alternative ( regardless of whether you want to make money on it or not )

 

MT - Just remember mate it was not so long ago BANKERS nearly fucked up the whole global economy!!

 

 

 

 

 

 

 

 

 

 

sea-kem's picture

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Wouldn't touch it with a 20

Tue, 2018-01-02 22:46

Wouldn't touch it with a 20 foot pole. Untested and has no material value like gold. Is the preffered currency for black market dealers, anybody remember the daffodils?

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Love the West!

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Your last comment is so true

Tue, 2018-01-02 22:51

Pick the bank robber

Two people
1 female, wearing nice dress, top with the banks logo on it standing with bullet proof glass in front of her, a smile on her face a handful of pamphlets all exposing how you should put all your money in the one of banks products.

1 male, wearing a ski mask dressed in a pair of non descript overalls holding a shotgun, hands over a note to the teller note says give me all of your money, he is standing with a sheet of bullet proof glass in front of him.

If you picked the male with the shotgun you are wrong, in the 2000s the person who is robbing you wears the bank logo on their shirt and stands with a sheet of bullet proof glass between you and them and has a smile on their face.

What is the difference between a bank and a brothel, the brothel will give you honest value for your money.

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Whats the difference between a drug dealer and a prostitute

Wed, 2018-01-03 06:59

The prostitute can wash her crack and sell it again.

pelagicyachts's picture

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this thread is going to be

Wed, 2018-01-03 09:03

this thread is going to be funny to look back on in years to come.....

store of wealth? - pays no interest, is not underwritten, guaranteed or backed by anyone..........

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Wed, 2018-01-03 09:45

 

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Love the West!

duncan61's picture

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Date Joined: 21/11/14

commodities

Wed, 2018-01-03 09:07

I prefer commodities and trade with plus 500 the things I have learned are

.Have enough loot to cover the stock regardless of how far it drops

.Only do one at a time

.Take your winnings and dont care if it continues to rise

.Cash in your loot on friday if you have made a profit

 

I am concerned that one day It might disappear and as it is based in Israel I dont like my chances of invading and getting my money back

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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just do it.

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This helped me understand

Sat, 2018-01-06 12:39

 This helped me understand more on the subject . . 

 

 

 

 

 

 

Jackfrost80's picture

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Haha. At least at the end of

Sat, 2018-01-06 15:01

Haha. At least at the end of Tulip Mania you got to plant a nice albeit extremely expensive garden

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sea-kem's picture

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 Or like this Grant

Sat, 2018-01-06 13:15

 .

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Love the West!

Jackfrost80's picture

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Crrrash!

Wed, 2018-01-17 08:59

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If catching wrasse is cool, consider me Miles Davis

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had

Wed, 2018-01-17 09:55

had to be coming, glad I only have $150 in it.

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 How good is it? Everything

Wed, 2018-01-17 10:18

 How good is it? Everything is on sale!

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Does anyone know where the love of god goes, when the waves turn the minutes to hours?

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cheap

Wed, 2018-01-17 10:26

I would say the next few days will be the time to buy, there was a story in the news about people borrowing money to invest. Can't understand why anyone would do this and how can the banks lend money for that?

pelagicyachts's picture

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people in the states are

Wed, 2018-01-17 13:44

banks are lending indirectly - that is -people in the states are using equity in their houses to redraw funds and taking out credit cards and getting cash advances
when you mix leverage with ignorance you get some pretty interesting results.....

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thats ok

Wed, 2018-01-17 13:47

not problems Tim

Wasn't sure if someone was offended when we started on the vegan jokes.

pelagicyachts's picture

Posts: 761

Date Joined: 23/02/11

haha - not me!not vegan and

Wed, 2018-01-17 14:04

haha - not me!
not vegan and rarely offended :-)

my comment on leverage is one made by buffet during the GFC - ie people borrowing money to invest in property they knew nothing about, ended very badly
Investing in crypto with borrowed money is the same except on a global scale - difference is the amount invested by individuals is likely to be much lower but the other difference is when they lose the money they actually lose the money. During the GFC (in the states) if you borrowed to buy a house and it went bad - you just handed the keys back - banks problem, which is why it was so bad -
banks in trouble = liquidity squeeze = country in trouble
But I digress...

Helen's picture

Posts: 478

Date Joined: 06/02/10

 OMG there are so many

Wed, 2018-01-17 09:56

 OMG there are so many comments so will have to read it later. i wanted to give it a go but a friend told me they had a freeze and i couldnt apply for an account so i never ended up bothering.

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Date Joined: 17/06/10

Think yourself as being lucky

Wed, 2018-01-17 13:01

You have had a lucky break Helen.

Helen's picture

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Date Joined: 06/02/10

 How so?

Wed, 2018-01-17 13:04

 How so?

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pelagicyachts's picture

Posts: 761

Date Joined: 23/02/11

its a train wreck waiting to

Wed, 2018-01-17 13:32

its a train wreck waiting to happen - has moved up purely on hype and hysteria, people who call it store of wealth don't understand the absolute basics of money.
If you want to have a punt - go for it - but do so with money that you don't care if you halve, lose or double
:-)

Posts: 4851

Date Joined: 17/06/10

Channel 7 news tonight

Wed, 2018-01-17 21:50

Crypto currency bit coin is taking a very steep dive, something like a 50% hit from what I make of it.

Dale's picture

Posts: 6757

Date Joined: 13/09/05

Wed, 2018-01-17 14:01

http://www.abc.net.au/news/2018-01-17/bitcoin-and-other-cryptocurrencies-tumble/9335774?section=business

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"Just because you are a Character, Doesn't mean you have Character."

Mr Wolf

 

 

Helen's picture

Posts: 478

Date Joined: 06/02/10

 meh sounds too hard and cant

Wed, 2018-01-17 21:53

 meh sounds too hard and cant be bothered reading about it haha.

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tadpole's picture

Posts: 348

Date Joined: 28/01/13

 I just got my coinspot

Thu, 2018-01-18 02:21

 I just got my coinspot account verified, just waiting for a couple hundred bucks to clear. Then I'll give it a go. Can't see it being a quality long term investment so am just treating it as a bit of fun. A fella I work with has about 5 grand invested in it, was all talk 6 days ago when Ripple had a surge, but seems to have gone quiet now....

gruntre69's picture

Posts: 475

Date Joined: 15/10/16

 Yes, I've got the same Idea.

Thu, 2018-01-18 09:34

 Yes, I've got the same Idea. Playing with a couple of hundred for a bit of fun. It's hugely volatile which does make it a bit of fun. Would be cool if I could have enough of a win to pay for a couple of nice rods... I don't think I'd call it an investment though...

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 Marine trimmer NOR (available for clears, tops, carpet, upholstery, custom equipment covers)

Posts: 931

Date Joined: 22/01/10

hard

Thu, 2018-01-18 09:44

So bloody hard, you buy some coins as they are going up. and then the next hour they are down a few cents, too hard to work it out.
all these adds where people say they are making $1000's a day are all click bait and bullshit

Posts: 3562

Date Joined: 01/02/10

Only time you can claim to be

Thu, 2018-01-18 10:10

Only time you can claim to be making thousands a day is when you are cashing back to fiat.
I just spent the last few days in Brisbane on a 100% crypto funded trip. Hurt a bit spending while btc is so low though.

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Does anyone know where the love of god goes, when the waves turn the minutes to hours?

Posts: 931

Date Joined: 22/01/10

fiat

Thu, 2018-01-18 10:23

What is FIAT?

Posts: 3562

Date Joined: 01/02/10

 Gov backed printed paper or

Thu, 2018-01-18 10:27

 Gov backed printed paper or plastic. Aussie dollar in our case. 

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Does anyone know where the love of god goes, when the waves turn the minutes to hours?

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Date Joined: 22/01/10

sell

Thu, 2018-01-18 10:40

so you sell high back to aussie dollar, and then buy coins when they are low again?

Posts: 3562

Date Joined: 01/02/10

 I sell back to usdt if it

Thu, 2018-01-18 11:18

 I sell back to usdt if it looks to be dropping and then buy back when I think it is about to rise again. Sometimes it works better than other. Otherwise I just leave trading funds on the exchanges. 

Cashing out i do through a coinjar swipe eftpos card. (That’s also what I record for tax purposes)

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Rob H's picture

Posts: 4808

Date Joined: 18/01/12

 Unfortunately gets difficult

Thu, 2018-01-18 13:29

 Unfortunately gets difficult with whats happening at Bitconnect.

And could happen at almost any exchanges I guess

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The older you get the more you realize that no one has a f++king clue what they're doing.

Everyone's just winging it.

 

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 Bitconnect - Ponzi scheme

Thu, 2018-01-18 13:32

 Bitconnect - Ponzi scheme destined to collapse. Usi tech showing signs of going the same way. 

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gruntre69's picture

Posts: 475

Date Joined: 15/10/16

 I don't know if it's

Thu, 2018-01-18 10:24

 I don't know if it's possible to work it out. It is a huge and very liquid market which is very easy to enter and exit by very small players. It seems the volatility is almost guarrenteed so you can make money trading the swings but it is hard to keep your cool and trust that it will swing. I was down by 45% last night and now I'm back to even money again... I had nothing more I was willing to commit at that bottom though.... Fun and games...

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Jackfrost80's picture

Posts: 4528

Date Joined: 07/05/12

I’ve been incrementally

Thu, 2018-01-18 11:47

I’ve been incrementally buying a few medium term coins since late Nov and for an outlay of $1k I was sitting at $2300aud last week and yesterday it was worth $820aud and I’m back in the black today. I just used money I’ve redrawn from my home loan account which I use as my savings account so I won’t miss it… unless it gets wiped out to nothing. Good luck to those that have real money in it as sleep would be at an absolute premium.

I have $950 worth of Bitshares which is what hurt the most but they are long term in the hope the market led by China, South Korea and the US who’s governments are banning centralised exchanges move to decentralised exchanges and Bitshares becomes the gold standard for all exchanges. Then again it might flop who knows? It’s a crazy beast.

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Date Joined: 22/01/10

bitshares

Thu, 2018-01-18 12:44

might have a look at those

Rob H's picture

Posts: 4808

Date Joined: 18/01/12

 Gruntre, while it is a very

Thu, 2018-01-18 13:36

 Gruntre, while it is a very liquid market, because it is almost totally sentiment driven (rather than fundamentals) it is only liquid in the opposite direction to the herd.

Its part of the dilemma with any investments especially shares.

Fundamentals is the actual underlying value if the equity was realised (broken up and sold),

Sentiment is the herd mentality and is totally reliant on who wants what (why doesnt matter but is always because they think someone else will want it more later)

____________________________________________________________________________

 Give a man a mask, and he'll show you his true face...

 

 

The older you get the more you realize that no one has a f++king clue what they're doing.

Everyone's just winging it.

 

pelagicyachts's picture

Posts: 761

Date Joined: 23/02/11

Exactly Rob!! "Fundamentals

Thu, 2018-01-18 15:03

Exactly Rob!!

"Fundamentals is the actual underlying value if the equity was realised (broken up and sold)"

Which is why I struggle to understand how anyone can put money into something that if broken up and sold would net SFA!

Rob H's picture

Posts: 4808

Date Joined: 18/01/12

 Its a constant debate with

Thu, 2018-01-18 16:05

 Its a constant debate with buying and selling shares.
We have seen it over the years with say uranium, nickel, gold, dot com, maybe lithium, tulips etc

While buying on sentiment is risky it is also the most rewarding but ONLY IF SOLD BEFORE THE HERD.

Similarly fundamentals are still only valuable if there is a buyer.

I certainly dont write off the crypto technology but nobody I know is buying crypto for any other reason than because someone else "will" pay more for it later.

None of the buyers I know even NEEDS an easier way to pay out money, or an untraceable way for that matter.

Take dot com as an example, the internet we know now arose from it but only a handful of the thousands survived such as Ebay, Amazon etc

Similar will be with the 1400 or so cryptos.

____________________________________________________________________________

 Give a man a mask, and he'll show you his true face...

 

 

The older you get the more you realize that no one has a f++king clue what they're doing.

Everyone's just winging it.

 

pelagicyachts's picture

Posts: 761

Date Joined: 23/02/11

crypto technology yes- block

Thu, 2018-01-18 16:41

crypto technology yes- block chain ledgers will become more popular for a variety of uses from money transfers to elections in corrupt 3rd world countries -
crypto currencies..... doubt they will cease to exist completely but cant see the values being sustained - ultimately someone will be left holding the steaming trrd
Dogecoin (dog-e-coin/doggycoin) was started as a joke in 2013 by someone having a crack at crypto ccy - the value of the coins in circulation is now ~2 billion.
I think that speaks in volumes about the buyers!

Dale's picture

Posts: 6757

Date Joined: 13/09/05

Tue, 2018-01-30 12:33

Tax man has gotten interested

http://www.abc.net.au/news/2018-01-30/bitcoin-cryptocurrency-tax-avoidance-profits/9374224

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"Just because you are a Character, Doesn't mean you have Character."

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sea-kem's picture

Posts: 10731

Date Joined: 30/11/09

 Ha ha I heard on the radio

Tue, 2018-01-30 13:11

 Ha ha I heard on the radio last night that one Crypto currency house had been cleaned out and the only thing left on their site was the word penis lol

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pelagicyachts's picture

Posts: 761

Date Joined: 23/02/11

That's a bit harsh mate -

Tue, 2018-01-30 14:13

That's a bit harsh mate - they only lost (got hacked for) 530 million!! :-)

the real issue could be with tether - still coming up to speed on this but the link below is a little scary if correct - in my experience - when someone "parts ways" with their auditors during an audit it is usually a bad outcome for investors

http://www.news.com.au/finance/money/investing/without-this-scam-bitcoin-price-would-collapse-fears-grow-over-tether-printing-press-as-auditors-part-ways/news-story/308503ab61f82d320e92847a0b59a23b

Darren253's picture

Posts: 352

Date Joined: 23/07/16

Crypto gamble

Tue, 2018-02-06 11:32

How are everyone's crypto gambles going?

Bitcoin has had a steep drop over the past week and down from $24k when this thread start to a little over 8k today!

 

pelagicyachts's picture

Posts: 761

Date Joined: 23/02/11

its getting humped, $6203 atm

Tue, 2018-02-06 11:38

its getting humped, $6203 atm (USD) - China has banned all trading of it,
store of value though remember....... :-)