Crypto Bitcoin @ 10k...

Discussion in 'Other Asset Classes' started by hammer, 3rd Nov, 2017.

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  1. Redwing

    Redwing Well-Known Member

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    Coin Fever

    Crypto trading hit a new record over the weekend -- higher volumes than some US stock exchanges
    • Bitcoin, the red-hot digital currency known for its volatile price swings, was on a wild ride this weekend.
    • Bitcoin crashed more than 25% from its all-time high of $US7,721 set Wednesday to a low of $US5,617 per coin on Sunday, according to data from cryptocurrency watcher CoinDesk.
    • Bitcoin cash, on the other hand, propelled to a record-high of $US2,500 early Sunday morning.
    • Trading volumes on Sunday peaked at over $US26 billion, according to cryptocurrency data site CoinMarketCap.com.
    • That’s higher than the 5-day average trading volume for some US equity exchanges.
     
  2. larrylarry

    larrylarry Well-Known Member

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    All eyes on BCC in 2018.
     
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  3. chylld

    chylld Well-Known Member

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    Moved most of my remaining coins over to my Ledger last night. Super simple to juggle a few apps as I have more currencies than apps that will fit on it (need one app per currency to transact)

    Plan to keep the Ledger at home, but will open up a safety deposit box at the bank to hold the bit of cardboard containing my 24-word seed. Thought about storing a copy on LastPass but I think I only trust that enough for the public keys.

    I think you'd be hard-pressed to find any PCers who go all-in on something that can be considered the polar opposite to bricks-and-mortar property :) Also have an IT background here and love the idea of a decentralised blockchain; big question atm is whether institutional trading (like we saw over the weekend with Bitcoin Cash) effectively defeats this.
     
  4. larrylarry

    larrylarry Well-Known Member

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    My twitter newsfeed on bitcoin comes in every few minutes. madness. LOL!
     
  5. larrylarry

    larrylarry Well-Known Member

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    which website did you buy from? place the link here re nano s
     
  6. chylld

    chylld Well-Known Member

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    Directly from the Ledger website, don't order this from anywhere else:

    https :// www .ledgerwallet .com/products/ledger-nano-s
     
  7. larrylarry

    larrylarry Well-Known Member

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  8. Blacky

    Blacky Well-Known Member

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    I don’t know a thing about bitcoin or crypto currency.

    From an outsider, looking in, I see nothing but tulips.

    Blacky
     
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  9. chylld

    chylld Well-Known Member

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    For some reason it didn't occur to me that there would be Australian resellers... looks legit, and listed on the ledgerwallet website.

    $119 each isn't bad, although it actually worked out a bit cheaper to buy 2 from ledgerwallet directly (AU $109.49 each shipped)
     
  10. chylld

    chylld Well-Known Member

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    My view from the inside:
    ss (2017-11-15 at 01.01.11).jpg
     
  11. larrylarry

    larrylarry Well-Known Member

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    Reddit users say it's legit.
     
  12. larrylarry

    larrylarry Well-Known Member

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    I'm a bit concerned with this limitation.
    So if you have 10 types of coins, you will need to reintall apps 3 times?
     
  13. Xenia

    Xenia Well-Known Member

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    Anyone here mining?
     
  14. larrylarry

    larrylarry Well-Known Member

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    With the electricity prices...wouldn't even bother.
     
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  15. hammer

    hammer Well-Known Member

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    I'm giving it a go....but the returns are crap.

    You really need a specialist mining box to do it economically.

    Unless you're on solar, its cheaper to buy.
     
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  16. chylld

    chylld Well-Known Member

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    Understand your concern, however in practice it is not much of an inconvenience. Each install/remove takes about 5 seconds.

    You would need to install the 4-5 apps for the first 4-5 currencies, do your transactions, then uninstall, then install the next 4-5 for the next 4-5 currencies, do transactions, etc. This is done via the Google Chrome app "Ledger Manager" on your computer.

    The transactions themselves are done via various apps on the computer. For ones I've transferred to the Ledger already:
    • Bitcoin, Bitcoin Cash, Litecoin, Dash: Google Chrome Bitcoin app
    • Ethereum: Google Chrome Ethereum app
    • Ripple: Windows standalone app
     
    Last edited: 15th Nov, 2017
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  17. chylld

    chylld Well-Known Member

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    Would it even be worth sacrificing feed-in tariffs for mining? e.g. Powershop currently pays me 12.8c/kwh for feed-in
     
  18. hammer

    hammer Well-Known Member

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    Depends on the coin and the equipment you're using, but even then you're still probably better of taking the feed-in tariff..

    You need ati GPUs and proper cooling to get anywhere.

    Or a dedicated box.

    This is expensive stuff.

    "Normal" CPU s in computers are the wrong tools for the job.
     
  19. chylld

    chylld Well-Known Member

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    oh GPUs for sure, and using something like NiceHash to pick the most optimal coin to mine for the hardware...

    A few days ago, Linus Tech Tips ran an interesting video on whether mining is still profitable:
     
  20. larrylarry

    larrylarry Well-Known Member

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    Very noisy.
     

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