bitcoin

Discussion in 'Betting and Gambling' started by shelfboy68, Dec 18, 2015.

  1. HildoSpur

    HildoSpur Likes Erik Lamela, deal with it.

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    Ironically if you had bought on the date you posted this you would have made a fortune because it has just been opened up into the Korean market and it's value has exploded. Hard to know now though if it's still a good bet.
     
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  2. TriXed

    TriXed Active Member

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    Still super cheap so probably worth it right?
     
  3. Geyzer Soze

    Geyzer Soze Fearlessly the idiot faced the crowd

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    what are your thoughts on Ether? Bitcoin is obvs the more classic store of value given its inbuilt scarcity, but Etherium seems to be more of a catch all platform?
     
  4. HildoSpur

    HildoSpur Likes Erik Lamela, deal with it.

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    It's impressive how many big companies are getting involved in it so it's pretty huge. Don't know enough about the tech really to comment on it much though.
     
  5. TriXed

    TriXed Active Member

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    I've been buying ether, can't afford bitcoin currently.

    Just bought again in the dip, same as last time.
     
  6. Geyzer Soze

    Geyzer Soze Fearlessly the idiot faced the crowd

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    You can buy in fractions, it's relative

    Anyway. Yeah. Bit of a bastsrd this dip. Halved the value until yesterday, gained a bit now again & ive bought ether at 170£. Was at 310 this time last week :/
     
  7. HildoSpur

    HildoSpur Likes Erik Lamela, deal with it.

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    I'm at the point now that massive dips no longer impact on me tbh. I've seen several massive dips over the past few years but the general trend is always upwards. If I had more spare cash I'd probably be looking at buying in again but tbh I think i've spent enough and am happy now to sit back and see what happens for the next 5 years or so.
     
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  8. Gbspurs

    Gbspurs Gatekeeper for debates, King of the plonkers

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    Looking to get involved in this as I'm after a decent 5 year investment for 2k. Seeing the prices of bitcoin makes me very nervous though and makes me wonder whether Ether is a better bet.

    Any suggestions or advice on best places to buy in uk?
     
  9. Speedy

    Speedy Active Member

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    Don’t get your investment advice off the internet!

    That said, I have half my crypto book in btc, and the rest split into eth and a few others. They are all priced according to btc so if btc goes up then eth will too, likewise the reverse is true. There are management companies offering you returns but doing it yourself is rewarding, and you can do it yourself very easily as long as you assume all the risk. The simplest thing is buy it from coinbase, send it to poloniex or bitfinex and lend your bitcoin out at 10% a year, so you keep the bitcoin and all its value increases, plus a return on lending. Or, try margin trading and make 10% a day.

    Ive found it all infuriating but it’s been fun. And bitcoin enthusiasts are total bellends. I’m just in it to learn trading and make a bit of cash where I can. I bought some chicken curry in Hemel hempsted once with some bitcoin. In these times of pointlessly low savings rates I figured what the hell
     
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  10. Rob

    Rob The Boss Admin

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    That curry probably cost you a grand at today's prices :p
     
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  11. Speedy

    Speedy Active Member

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    And it was bang average too!

    I don’t know how to work it out. It was £20 in 2015
     
  12. Rob

    Rob The Boss Admin

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    Only about £500 then!
     
  13. Geyzer Soze

    Geyzer Soze Fearlessly the idiot faced the crowd

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    Tell me more about this ‘lending bitcoin out at 10% per annum”?

    But trading at 10% margin/ day - v optimistic mate! Jeez - with a buck to start youd be a milllionaire in ... what ... 210 days?
     
  14. S.Mouse!

    S.Mouse! Fookin' Legend in Gin Alley

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    I've stuck a fair bit in about 8 coins over the past couple of weeks. Now I'm addicted to looking at my Blockfolio. Still a few more coins I want to get involved with.

    I'll have half my money invested long term with the likes of the big 3 and some solid technologies, and with the other half I'll scalp the alt coins.
     
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  15. Speedy

    Speedy Active Member

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    Yes kind of tongue in cheek. I made 300% one week and lost it all the next, including my original deposit. So I got burned... I think if you have time its possible but it’s too much for me. All of these markets have automated trading bots (which you ca rent/buy incidentally) so really its trend following rather than skill, and then taking advantage of spikes and dumps which bots can’t adjust to easily.

    Lending swings between about 0.025% per day to 0.25%pd depending on demand for margin loans. 0.025% if you multiply by 30 for the month, and 12 for the year gives you the return, which is 9%. If you adjust your lending rate and catch the high demand periods and get .25% per day, it’s 90%, but you’ll only get that a few times a year for a week maybe. In my experience I’ve got between 10% and 20% but recently I’ve just set it to 0.025 and 60 day periods as I just don’t have time. On bitfinex you can set the loan rate to the average demand which is quite useful, but I prefer poloniex as the user interface is more for dumbasses like myself. I guess it depends on scale - getting 10% on £500 is basically fuck all, but if you have a few bitcoin that 10% isn’t so bad, especially as the lending algorithm is doing most of the work. The real risk is the exchange being hacked, or your account broken into but if you setup 2FA and make it hard for the criminals they mostly go for low hanging fruit, so the main worry is the site itself going down. Which they all do from time to time
     
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  16. TriXed

    TriXed Active Member

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    Any alts you're looking at and how can you buy them?
     
  17. Geyzer Soze

    Geyzer Soze Fearlessly the idiot faced the crowd

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    Yeah. I lost around 1000 bitcoin at MtGix when it went tits up

    Obvs at that time they were like 1$ so it wasn’t slit wrist material. But it still burns & I’m hyper security sensitive, I keep fuck all in any exchange
     
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  18. Speedy

    Speedy Active Member

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    Yeah. I have a Ledger Nano, last thing you need is some bedwetter nerd hacking your shit
     
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  19. Speedy

    Speedy Active Member

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  20. NickHSpurs

    NickHSpurs Well-Known Member

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    Anything else worth a punt?
     

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