Is Bitcoin the Next Big Thing?

[Murray]

Just bought them back, 120 usd lower each coin, not to be sniffed at.

Seems to be swinging up and down a lot atm

 

[Edwin]

I know nothing about the company, but FYI I noticed you can trade Bitcoin and Ethereum-related stuff on this platform (under Forex->Virtual)
https://www.plus500.co.uk/

(I presume if you'd shorted it yesterday you'd have made a fortune today - but that's with the benefit of hindsight. You could also have lost a fortune had things moved the other way)

 

[martin-s]

I hear Hargreaves Lansdown have now added a couple of Bitcoin funds to their list - SIPP investible.

And this morning I read something which for the first time grabbed my interest about Bitcoin. The concept of "tokens".

Is that the future of fundraising for companies? Directly funded and privately tradeable bonds. Possibly a replacement or competitor for private equity funding? Maybe even a replacement for the share ownership model in some cases?

I can see a Kickstarter model working on that basis.

 

[Admin]

I'll have a read of that. Ethereum is very interesting, what a ride. My average price is $8 and they are $224 now.

 

[timter51]

What I don't get with Ethereum is what the businesses benefitting from ICOs are expected to do with their ETH? For example, the BAT ICO guys got something like $35m worth of ETH. They need that to basically run their business, but surely they need it in $$$. So how do they get that? Dump the ETH on exchanges for $$$... I wouldn't want to be left holding the bag when that happens, all of the ICO beneficies will be in full dump mode to make sure they get as much $$$ as possible. For example yesterday morning ETH dropped 10% in price, the BAT guys would have sat their and watched $3.5m wiped off their ETH stash in one morning. Itchy trigger fingers everywhere I imagine.

I could be totally wrong on how this works, and I could be salty for missing out. Please shoot me down in flames if I have misunderstood.

 

[Murray]

Before you guys bought any crypto's, did you have a figure in mind you would sell for? or are you just playing it by ear

 

[Admin]

Before you guys bought any crypto's, did you have a figure in mind you would sell for? or are you just playing it by ear

I didn't. I'm trying very hard to leave them alone because I believe in their future. I've been spending them all the way up, probably spent what I put in and yet have a fairly huge value of crypto now so I can't complain if it goes belly up. The chances are bitcoin won't and probably not ethereum either. The upside is huge (many 1000%), the downside is only 100%. Perhaps the opinion of casares (CEO of xapo, paypal director etc) will prove to be very wise. He says if interested you should invest 1% of your net worth in bitcoin and forget about it for 5 - 10 years. You will then possibly have millions of £ of value or will have lost something you could afford to lose.

 

[timter51]

Is anyone here able to sell me 0.4 BTC urgently this weekend? Need it before the end of tomorrow!

 

[Admin]

Is anyone here able to sell me 0.4 BTC urgently this weekend? Need it before the end of tomorrow!

I could no problem, contact me

 

[Murray]

Is anyone here able to sell me 0.4 BTC urgently this weekend? Need it before the end of tomorrow!

Can bitcoin be confirmed that fast atm? took like 4 days for my transfer to be comfirmed couple weeks ago.

 

[Admin]

Err...its instant as far as i know?

 

[Admin]

0.4 BTC Sent to you Tim.

 

[timter51]

Cheers Steve

 

[timter51]

Can bitcoin be confirmed that fast atm? took like 4 days for my transfer to be comfirmed couple weeks ago.

The 0.4BTC Steve just sent me is now confirmted in my wallet, that was only 25 minutes. Wonder if you just chose a bad day to send, could have been a high volume day with loads of transactions going through?

 

[Admin]

Perhaps murray was buying bitcoins and had to wait for payment confirmation or similar. A transfer of bitcoins from one wallet to another should be pretty instant, i had the option of standard priorty (next 6 blocks on the blockchain) or high priority (next 2 blocks). I did standard, it still cost me nearly 5 dollars.

 

[Murray]

Perhaps murray was buying bitcoins and had to wait for payment confirmation or similar. A transfer of bitcoins from one wallet to another should be pretty instant, i had the option of standard priorty (next 6 blocks on the blockchain) or high priority (next 2 blocks). I did standard, it still cost me nearly 5 dollars.

I sent a bitcoin to LocalBitcoin on 10th May

I just checked and it says it took 61 hours to be confirmed

Glad you and @timter51 experience was quicker

 

[dog]

You are right.

http://www.trustnodes.com/2017/07/07/mega-icos-cashing-crashing-ethereum

http://www.trustnodes.com/2017/07/16/market-cap-digital-currencies-almost-halves-around-60-billion

What I don't get with Ethereum is what the businesses benefitting from ICOs are expected to do with their ETH? For example, the BAT ICO guys got something like $35m worth of ETH. They need that to basically run their business, but surely they need it in $$$. So how do they get that? Dump the ETH on exchanges for $$$... I wouldn't want to be left holding the bag when that happens, all of the ICO beneficies will be in full dump mode to make sure they get as much $$$ as possible. For example yesterday morning ETH dropped 10% in price, the BAT guys would have sat their and watched $3.5m wiped off their ETH stash in one morning. Itchy trigger fingers everywhere I imagine.

I could be totally wrong on how this works, and I could be salty for missing out. Please shoot me down in flames if I have misunderstood.

 

[timter51]

It blows my mind. Hats off to those ICO guys who have just made themselves multi-millionaires without any accountability to deliver on their already-vague whitepapers. They could just turn around one day and say "sorry, gave it our best shot and it didn't work" and no one could do anything. Proper wild west stuff, the only accountability they could ever face is revenge.

 

[Admin]

It blows my mind. Hats off to those ICO guys who have just made themselves multi-millionaires without any accountability to deliver on their already-vague whitepapers. They could just turn around one day and say "sorry, gave it our best shot and it didn't work" and no one could do anything. Proper wild west stuff, the only accountability they could ever face is revenge.

True, EXACTLY the same as the .com bubble. Directors can just walk away

 

[dee]

Я с нетерпением жду следующего: после взрыва пузыря с криптовалютами.

welcome. I suspect you'll last a long time here !