Crypto Bitcoin @ 10k...

First world problems!!

 

The problem I see with BTC is that you’re at the mercy of the exchange and they can go the way of the MtGox. Even if you’ve made a mint and the exchange collapses then what? Can you buy the coin at the exchange and then move it elsewhere?

 

I think you can transfer it out to a cold wallet, i.e. physical hardware in your possession (even keys written on a piece of paper)

 

This reminds of the poker sites. You’d have serious money sitting there but the cash outs were capped and would take weeks to hit your bank accounts, some would just not be processed and ‘lost’ no recourse.

 

That’s good to know. I believe in BTC and crypto, but I don’t trust the exchanges, for example

 

Struggling to upload pics. What a noob

 

btc markets, 100k max

 

Yes, I hold mine in a Legder wallet. It's like a USB stick.
No way I'd ever leave too much of any coin on an exchange. These exchanges are like a law unto themselves. They can freeze withdrawals anything they with. They could even close up shop and disappear!! Very minimal if any regulation.

 

Unless you can find a person or people to purchase direct, you'll have to either use an exchange or a place like CoinJar, and transfer in small amounts. Their fees will be high though.

I know a couple of people that trade large amounts, I can ask them if they are purchasing at the moment..

 

Nano S? How are you finding it? Seems it supports most of the currencies I hold, but not Monero or Neo/Antshares

 

A friend sent me this..CryptoKindom Cryp Trade Capital Review

Is it just me or are some Bitcoin sites reminiscent of MLM

 

Yeah that's the one!

It's surprisingly easy to use. Easily interfaces with the pc and you can see your balance on the screen once you download the software.
I find it very secure...use it more like a storage of coins rather than a daily trading wallet.
Hold about 4 different coins on it, and very soon Neo will be compatible with it too.
Only downside is that it won't display your balances on the actual wallet itself. But overall very happy with it.

 

Cheers! Ordered a couple to save on shipping (giving one to a friend who inspired me to get into crypto, just in time it has turned out)

 

From Scott Pape

Depends on the day, but from his article

QUESTION: if you’d bought $1000 worth of Bitcoin in July 2010, how much would it be worth today?

(a) $1,430

(b) $143,000

(c) $1,430,000

(d) $14,300,000

(e) $143,000,000

 

Why investing in Bitcoin is like taking a gamble

The answer? ... ‘(e)’

Staggering figures, but true — it was trading at 6 cents a share back then, and now it’s $8580 … oh hang on, in the time I’ve driven home, read the kids a story, put them to bed (twice) and come back to my computer, a Bitcoin is worth $9051!

That means our $1000 is now worth $150.8 million.

 

Yesterday I printed out a piece of paper and transferred BTC 0.01 to it (~$100). Then I needed to sleep to recover from the brain implosion...

 

This is not going to end well.

I try to keep an open mind but this has to be a massive speculative bubble doesn't it? The only reason anyone is buying Bitcoin and other cryptocurreny is betting on future gains, (or for criminal activity)

It has no intrinsic value and it is not really supported by governments or central banks as a legitimate currency given its shady uses for anonymous transactions and money laundering.

Good luck to anyone playing in this area but well outside my comfort zone as an investment or store of wealth

 

Ditto, it's absolutely not an investment, let alone an alternative to saving.

The only way I can justify what I essentially consider gambling is to add a 3rd level to my money philosophy:

1. Salary -> Living expenses, investments
2. Investments -> Toys, luxuries, more investments (>50%)
3. More investments -> Crypto, even more investments (>80%)

 

Has anyone successfully bought stocks with Bitcoin?

I am thinking if I use it as a currency that I avoid the CGT? Is this thinking correct?

A few sites popping up that allow me to buy shares directly. Just not sure how legit it all is.

Anyone got any experience with any of these?

1Broker.com - Bitcoin Forex & CFD Trading
Whaleclub

 

I really want to buy Ethereum, even mine it, every time I am close to pulling the trigger I keep hearing Buffets voice, if you don't understand it don't invest in it, kills me every time!