Cryptocurrency, Blockchain and buy Roujcoin now [ROU]
  • GooberTheHat
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    But they aren't the market regulator. Self appointed.
  • cockbeard
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    There is no regulator, so they are just trying to prevent themselves from being potentially exploited
    "I spent years thinking Yorke was legit Downs-ish disabled and could only achieve lucidity through song" - Mr B
  • cockbeard wrote:
    That's not what I meant. The fact that the company who hold your assets can suspend trading when the price is falling (when you're most likely wanting to sell) will put plenty of people off (from coinbase at least, not necessarily crypto)

    Whilst I hear you, it arms a sensible safeguard against bot traders, and a large run being placed on the asset

    Coinbase is the noobs entry point into this. You go onto gdax exchange to do the trading as its cheaper and owned by same company. Also it has SSO so you don't need different email/password for gdax, just use coinbase one.

    In coinbase's defence. If you wanna get involved in cryptocurrency, it's the most reputable of the lot (it's what I'd recommend to a newbie). It has US regulatory approval. It's financial backers are Bank of Tokyo/ NY Stock Exchange and other big PLAYERS. It also only trades in Bitcoin, Litecoin, Etherum and Bitcoin Cash.
  • Coinbase has been a shit show recently, even if they somehow prove that they're clean as a whistle then it still demonstrates remarkable lack of judgement.

    Anyway here's a quick guide I threw up on how to keep your coins secure. Let me know what you think!
    aaaaaAAH FA-SHION!
  • Lester that's really good. Great work. Do you mind if I share it with some friends?

    In your opinion what's the max that Ripple could hit per coin? Some people suggest £2-£3 tops.
  • Lester, one other question if you don't mind. What's your thoughts on alt coins that are trying to solve different issues? I.e. Storage - siacoin, storj and maidsafecoin. Digital advertising I.e BAT. Off chain - raidenetwork. Gaming tokens - Wax and enjin and so on?

    Its like the wild west at present, so many ideas, so many teams trying to introduce their own protocols and blockchains or even child blockchains. It's crazy. Mass adoption is key and I can't see many making it. I wonder if crypto kittens is a sign that mass adoption will happen in a way that we least expect, I.e. through gaming?
  • Yeah man please do and thanks!

    XRP could hit it big and it certainly seems to be building a solid foundation. It's not just FI that might use it, they're bringing out implementation for consumernuse too so if that happens then £2-3 might be conservativenif they can handle the volume.
    aaaaaAAH FA-SHION!
  • Lester is fierceedge.com your site?
  • Yes but I thought I'd try and hide my personal blog on there!

    I'll tell you about the alts maybe tomorrow now. About to eat.
    aaaaaAAH FA-SHION!
  • acemuzzy
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    Useful read - thanks!

    You have my most common typo in there tho, I think.  "they are now invulnerable" -> "they are not invulnerable"?!
  • 40% of bitcoin is owned by 1,000 individuals.

    Or so I read on the Internet.
  • WorKid wrote:
    40% of bitcoin is owned by 1,000 individuals.

    Or so I read on the Internet.

    The %age of bitcoin in circulation owned by the same number of individuals is probably even higher, given that satoshi probably has tens of thousands and will probably never move any. Fact is about a dozen people can cause a crash any time they want, the people who have other interests now.

  • acemuzzy wrote:
    Useful read - thanks! You have my most common typo in there tho, I think.  "they are now invulnerable" -> "they are not invulnerable"?!

    Fixed thanks! Where did you find the hyperlink BTW that went to blogs/easter-egg/www.bitaddress.org
    aaaaaAAH FA-SHION!
  • Dinostar77 wrote:
    Lester, one other question if you don't mind. What's your thoughts on alt coins that are trying to solve different issues? I.e. Storage - siacoin, storj and maidsafecoin. Digital advertising I.e BAT. Off chain - raidenetwork. Gaming tokens - Wax and enjin and so on? Its like the wild west at present, so many ideas, so many teams trying to introduce their own protocols and blockchains or even child blockchains. It's crazy. Mass adoption is key and I can't see many making it. I wonder if crypto kittens is a sign that mass adoption will happen in a way that we least expect, I.e. through gaming?

    I'm only familiar with Siacoin and using them as an example I find it difficult to see how democratised storage can work better than Drive, Dropbox etc. Storage is pretty cheap if not free. I think with Siacoin, if you want to pimp out your storage you have to be able to offer a terrific amount of memory for a high 90% uptime which is understandable. Also If I recall Siacoin tanked themselves bigtime by saying they had a massive announcement which created massive hype and then they revealed a product which was pretty unrelated to what they did and what their customers wanted.

    Digital advertising. My brothers actually an advertising exec so I'm going o talk this through with him over the holidays when we get together. Seems interesting and one to look out for but I don't fully understand the concept behind it. I get it that the potential customer receives the ad revenue rather than the platform which is a win:win but people are shitheads and going to find a way to game the system.

    Offchain. TBH I haven't had time to look into these systems yet but I've now got two weeks off so there's a ton of reading to be had.

    Gaming tokens. I had my eye on Wax but kind of lost interest. Then I saw TRON and this looks like it could be a better proposition although it's not an exclusive gaming token. High risk, high rewards.

    You're right there will be a ton of coins falling because they're shit or don't have the right marketing but look at where there's competition and working prototypes. Competition is healthy and usually signals a need in the market place. A lot of people shit themselves and try to shout down other coins and only focus on what they've bought in on. What they forget is that this is a global market place and there's for sure going to be room for good propositions, it won't be a winner takes all marketplace. Well, not for a while.

    There's a few coins which will reach the end of their testing/trial phase in 2018 so look out for blockchains focusing on logistics and energy.
    aaaaaAAH FA-SHION!
  • legaldinho wrote:
    WorKid wrote:
    40% of bitcoin is owned by 1,000 individuals. Or so I read on the Internet.
    The %age of bitcoin in circulation owned by the same number of individuals is probably even higher, given that satoshi probably has tens of thousands and will probably never move any. Fact is about a dozen people can cause a crash any time they want, the people who have other interests now.

    Also there's probably a ton of coins MIA in destroyed hard drives and forgotten pass phrases.
    aaaaaAAH FA-SHION!
  • acemuzzy
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    acemuzzy wrote:
    Useful read - thanks! You have my most common typo in there tho, I think.  "they are now invulnerable" -> "they are not invulnerable"?!

    Fixed thanks! Where did you find the hyperlink BTW that went to blogs/easter-egg/www.bitaddress.org

    In the paper wallet section I think
  • acemuzzy wrote:
    acemuzzy wrote:
    Useful read - thanks! You have my most common typo in there tho, I think.  "they are now invulnerable" -> "they are not invulnerable"?!
    Fixed thanks! Where did you find the hyperlink BTW that went to blogs/easter-egg/www.bitaddress.org
    In the paper wallet section I think

    Fixed - thanks! I got the Link To and Link Address mixed up.
    aaaaaAAH FA-SHION!
  • Thanks Lister - looks very helpful, I have stuck it on pocket for reading latter
    3ds: 2878-9640-1728

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  • Imho I think a long term portfolio should have the following:
    1) currency i.e. Bitcoin, Bitcoin cash or Litecoin.
    2) privacy currency i.e. Monero, Zcash, Pivx.
    3) platforms i.e. Etherium, Neo, Qtum.
    4) utility (fintech) i.e. Ripple, Stellar lumens, Omisego.

    Anyway that's my own opinion, but that's what I working towards for the long term holds. A coin or two in each category.
  • https://hackernoon.com/ten-years-in-nobody-has-come-up-with-a-use-case-for-blockchain-ee98c180100

    Excellent read. I've been questioning stuff as well wondering if I'm missing the bigger picture and this guy has summed it up.
  • Dinostar77 wrote:
    https://hackernoon.com/ten-years-in-nobody-has-come-up-with-a-use-case-for-blockchain-ee98c180100 Excellent read. I've been questioning stuff as well wondering if I'm missing the bigger picture and this guy has summed it up.

    Good read but falls short in a lot of departments. As Cocko said with the banks re: Ripple, adoption is amazingly risk averse, and quite rightly so, but you can see very slow progress.

    At this stage with the technology it's still very early. In 2000 I used the internet to find cheap tyres online. The guy who worked there and created the website told me to tell the owner how I found the place. When I said from the internet, the owner scoffed and said it was still a waste of time and money having a web-page. As I understand from the banter, the webpage creator put his own money into making the webpage as the owner refused and said nothing could beat the Thompson and Yellow Pages.

    So give it time. Around 2002 I was getting written warnings for attaching small video clips on email and now no-one thinks twice about streaming HD movies with surround sound on demand.
    aaaaaAAH FA-SHION!
  • Dinostar77 wrote:
    Imho I think a long term portfolio should have the following: 1) currency i.e. Bitcoin, Bitcoin cash or Litecoin. 2) privacy currency i.e. Monero, Zcash, Pivx. 3) platforms i.e. Etherium, Neo, Qtum. 4) utility (fintech) i.e. Ripple, Stellar lumens, Omisego. Anyway that's my own opinion, but that's what I working towards for the long term holds. A coin or two in each category.

    Definitely this but the Utilities would probably need sub categories. It's so difficult trying to stay on top of all the coins and understanding them. I think when you're looking at the Utility coins especially, you have to try and understand the industry, question why do they need a blockchain and most importantly what the shit does their token do? Another thing people often miss is, why do they need a public blockchain? Why can't the players just replicate a start-up blockchain and use it in house? They'll have all the contacts, experience etc in place, all they need to do is make sure that they can make their existing practices faster and cheaper - it doesn't have to be the very best available.
    aaaaaAAH FA-SHION!
  • The whole thing does have a whiff of emperor's new clothes about it.

    Even my work are putting money into it, because everyone else is. Meantime we're on Windows 7, Lotus Notes and five-year old laptops.
  • cockbeard
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    Lester wrote:
    So give it time. Around 2002 I was getting written warnings for attaching small video clips on email and now no-one thinks twice about streaming HD movies with surround sound on demand.

    That was more about content than server capacity
    "I spent years thinking Yorke was legit Downs-ish disabled and could only achieve lucidity through song" - Mr B
  • cockbeard
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    My thing about crypto currency right now is I've seen it being discussed on front page bbc links, and more tellingly my afcb forum. This makes me think getting in now is likely far too late
    "I spent years thinking Yorke was legit Downs-ish disabled and could only achieve lucidity through song" - Mr B
  • cockbeard wrote:
    Lester wrote:
    So give it time. Around 2002 I was getting written warnings for attaching small video clips on email and now no-one thinks twice about streaming HD movies with surround sound on demand.
    That was more about content than server capacity

    XD

    cockbeard wrote:
    My thing about crypto currency right now is I've seen it being discussed on front page bbc links, and more tellingly my afcb forum. This makes me think getting in now is likely far too late

    Although it's becoming more mainstream, adoption is far far from mainstream. Blockchain is here to stay but where and how it will be in future remains to be seen. Very loosely, you're looking at email becoming the first application for the internet. The potential is far from being realised.
    aaaaaAAH FA-SHION!
  • Cocko, it's not too late mate. As Lester said it's very early days. Do your research, go in with a small amount of money and see where it goes. As a techie I find the underlying mechanics of blockchain fascinating. There is alot to learn in this area.

    A couple of reading threads I follow:

    https://Cryptopanic.com

    https://www.reddit.com/r/CryptoCurrency/

    https://www.reddit.com/r/CryptoMarkets/

    https://medium.com/topic/cryptocurrency

    https://hackernoon.com/tagged/cryptocurrency






  • Just for reference the money I put I I'm expecting to lock down the majority of it in cryptocurrency for the next 5 - 10 years.

    There's a small amount I'm playing around with for short term gains and day trading but I'm fully expecting to lose all of that 'cus I'm a n00b at trading!
    aaaaaAAH FA-SHION!
  • I'm being very patient with building my portfolio, as I tick off coins I'm gonna lock in for 5-10 years as well.

    On a side note, I do wonder what would happen if a giant such as Facebook, Google, Amazon, Alibaba launched their own token. Being listed companies how would their shareholders react? Would they demand a percentage of tokens for their shareholding?
  • cockbeard
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    i don't think they can because at launch the tokens are worthless. If they placed a fictional redeemable value on the token, thereby devaluing the company then the shareholders would have a right to ask. However the nature of blockchain is that the token is recompense for work done, so it's up to the management of the company to make sure that the work done adds value to the company, and value that exceeds the rewards given to the worker. It might help to think of it in the same way as an employee
    "I spent years thinking Yorke was legit Downs-ish disabled and could only achieve lucidity through song" - Mr B

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