Brooks wrote:I wouldn't relish the task of redoing banks' software back ends to cope with the new under any circumstances.
Dinostar77 wrote:@lester any advice on what exchange to use? I use coinbase at mo but transactions fees are a bitch. Also where is best to buy alto currency from and do you have to convert it to bitcoin? The bitcoin frenzy means you get less alto currency when exchanging fiat currency to bitcoin to alto currency. Any advice?
cockbeard wrote:Never happens, they almost always build on top of old, because there's the merest risk of data loss, they daren't rebuild and transfer dataBrooks wrote:I wouldn't relish the task of redoing banks' software back ends to cope with the new under any circumstances.
Dinostar77 wrote:Cheers bud, I've been looking at the ledger nano s wallet, however I'm playing with a fund of under £100. For now an encrypted USB key will suffice.
g.man wrote:He's still the one I run to.
Dinostar77 wrote:Been following the alto coins markets close this past week or so. It's been interesting to see how much they fluctuate, depending on what happens with Bitcoin.
Personally more interested in the alto that are valued under £1 per coin, idea being that they will be longer term holds.
Been reading various Whitepaper for the different currencies, some more engaging than others to read. It's definitely an area that could have huge ramifications for many industries and Fiat currencies as well. However it's all still very immature.
The more reputable exchanges only deal with the major crypto currencies I.e. Bitcoin, etherium and litecoin. It's a faff to try to buy a currency that is lesser well known. That's why I believe we are seeing volatility in the price of etherium and lite coin.
It doesn't help that some of the exchanges ask for background information that makes you uncomfortable. I. E. 2 forms of ID, bank statements etc. Questions arise, who owns this exchange? Where is my data being stored? Is my personal information safe?
In the end I've decided to stick with coinbank and gdax (it's sibling exchange) for any import of Fiat currencies. I don't trust the others. I'll create accounts on them because I have to trade with my BTC in order to buy the lesser known currencies but I'll make sure I leave no coins hanging around on their exchanges.
I don't know why I'm so interested in this area, stocks and shares don't interest me but this does. Could be the techie angle combined with how block chains and other alternatives work that has gone up my flagpole.
LesterUnlimited wrote:That's actually a really good article. One thing item that Bitcoin is being criticised for is it's energy consumption but I don't think it's entirely fair. No-one is acknowledging the amount of resources required to operate FIAT currencies. They all need offices and all the energy costs that go with running bricks and mortar with people inside. They also have to mine the planet for metal in their coins, use paper and plastic for notes and then they also have to burn a ton of fossil fuels transporting this all around. I'm not saying X is OK because of Y, but trying to put some perspective on this.
WorKid wrote:Why do they need 'new' bitcoin? Why not just go - there's a million of them, sort it out amongst yourselves.
That's literally the most confusing bit for me. Why is there an artificial "supply" of made up stuff?
Dinostar77 wrote:I do agree with her (article writer) that bitcoin won't scale and therefore any crypto relying on the blockchain as it is currently setup won't gain mass adoption. The fact that etherium and bitcoin can only process 3-5 transactions per second, compared to visa which does 3500 per second demonstrate the issue with the blockchain. Also on a sidenote, maybe a preventative measure, but amazon have registered some amazon currency related domain names. If Amazon go down the route of their own blockchain and currency. Bitcoin will definitely have a problem.
hylian_elf wrote:Quite a few of you into this crypto stuff then? I’m playing safe and sticking to precious metals and amiibo.
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