Crypto Cryptocurrencies.

4 days and counting. So much for '48 hours' they say.

 

Ha, bugger. I ticked over my 48hrs today....

 

I think I appliedon a Tuesday or Wednesday and they did the phone verification the next Sunday.

 

The NEXT Sunday? As in 12 days later?

I've just signed up for BTCMarkets too. Gotta wait for a letter in the mail for verification. I have a feeling this will beat CoinSpot.

 

Did they call from a private number or was just a normal phone number displayed?

 

Long thread, have skipped through it..... but I have one question

Anyone making some serious money investing in this product?

 

'Serious money' is subjective. I'm still holding out for higher prices (so haven't locked in a profit & don't want to count my chickens), but looking like (if my target for IOTA is met) the profits may end up enough for a deposit on a nicer home for myself and wife, is that serious enough for you

 

If I liquidated now @MTR my initial investment has increased 15 fold.

If I had got my Bitcoins of Mt Gox exchange back in 2014 before they went to the wall and I lost them, I'd be up 50 fold!

If you spend a bit of time and cut through the bull, research the coins and tokens and more importantly the mechanics of the block chain behind them, research the development team and look for crypto's that are genuinely solving a problem then it could be a very exciting ride for the next few years.

Back in 2013/2014 they were tipping a potential eventual price per Bitoin of $1m.

It's also VERY volatile beyond belief, but the fun part is a lot of the new coins start out at pocket change until they gain traction so you don't need to throw more than some coffee money at ones you like the sound of.

Wait till next year when places like Amazon start accepting them and more mainstream outlets take them more seriously. Who knows which coins will stay, boom or die but the block chain tech is here to stay and is a potential game changer for pretty much every type of modern business. It's fascinating. Banking as we know it will be gone within the ext decade I reckon.

 

@MTR I'm up, not a word of a lie, 21000 percent.

But this was sheer fluke...and I didn't put much money in.

I've since diversified into a few coins and I'm hoping to turn it into an IP deposit....but I just don't know. Could all go up in a puff if Digital smoke in the next 5 minutes?

It's so...mind-bendingly volatile.

 

At least when tulip mania was over, you had a pretty plant you could admire. There will be no such beauty in the event of a digital catastrophe on the crypto currency front.

 

Actually there will. Xmas this year has been bought in its entirety using Bitcoin. Fuel, booze, gifts...even the ham. The lot.

 

Got in 2013...wish I had bought more!

What alt coins are people in or exploring? Kicking myself for not getting more Ether awhile ago ugh.

For those who are getting in now, please do yourself a favour and get a hardware wallet like the Ledger or Trezor. You can thank me later.

 

I still can't get my head around why a hardware wallet is better than a paper one?

You still have to store your 24 word backup seed passphrase somewhere in case you lose your Ledger or it gets fried, I'm struggling to see how storing a piece of paper with the 24 word phrase on, that anyone can then use on a blank Ledger to recreate your wallets, is any different form storing the paper wallets in the same place as you'd store your passphrase?

I was all set to grab a Ledger then saw a YouTube video by a chap who sent 4 BTC from his Ledger and it froze mid transfer, then died. He lost them. They left the Ledger Wallet and never appeared in the wallet he sent them to.

I'm happy with paper wallets for the moment, unless there's something I'm missing?

 

Provided you have generated your paper wallet in a suitable environment (offline, ran a separate distribution etc.), they are the safest form of cold storage.
Where a ledger or trezor wallet comes in handy is when you want to do regular transactions.
With a paper wallet you have to swipe it, import the lot in your hot wallet and send the change to another cold storage. A bit of a pain if used regularly.

A good approach is a paper wallet for say your savings and another wallet (hot/hardware) for your daily account.

But anyway most of the people who lose their coins lose them because they leave them on an exchange. A hot desktop wallet is already infinitely more secure than leaving coins on an exchange provided you are running an up to date and clean computer.

 

So I got an email back. It has been rejected because I scanned my licence, instead of taking a photo of it. What a bloody waste of my time. It doesn't even say it specifically needs to be a photo. Will have to wait another week for it to be rejected for something else now, you watch.
You been accepted yet?

 

Strange you guys are having trouble getting verified with Coinspot, mine was through within 24 hours. I only signed up on Monday morning and was verified before afternoon tea!

 

Well that sucks. No word yet. I'm half expecting problems as I look nothing like my drivers licence photo any more but I did take a photo as opposed to scanning like I nearly did!

Signed up to Binance today after doing some research but verification is still pending with that.

Geez, I signed up * checks email * just after midday on Monday. They must have liked the look of you!

 

They'd be the first ones...

 

Ha! I'm sure you're other half thinks differently

But now I have red eyes after reading your post in the other thread.

 

No, 5 days later.

It came through from a mobile number.