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Rant What was the point in being in IT, if we missed the bitcoin boom?

Discussion in 'General' started by rainbowbridge, 1 Dec 2013.

  1. julianmartin

    julianmartin resident cyborg.

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    Yep. I'm going in for sure.
     
  2. Mister_Tad

    Mister_Tad Will work for nuts Super Moderator

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    I'm thinking there's probably more to go, but I did this morning FWIW.

    I cashed out half of my ETH last week, and have been flipping both BTC and ETH in such a fashion for some time. It's easier to not over-think if you do it now, or tomorrow, or the day after, and just pick and approach and stick with it.

    When you're talking about something with such an obscene volatility, whether you go in at 3300, or 3000 or 2000 isn't massively important for the long run. You'll either do well or end up with nothing in any case :lol:
     
  3. Weekly_Estimate

    Weekly_Estimate Gives credit where its due

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    Anyone profit on the China, JP Morgan Dip? lol
     
  4. MiNiMaL_FuSS

    MiNiMaL_FuSS ƬӇЄƦЄ ƁЄ ƇƠƜƧ ӇЄƦЄ.

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    Turns out it wasn't a bad time to be diving in :)
     
  5. Guest-23315

    Guest-23315 Guest

    ALL ABOARD THE XRP TRAIN BOYOS

    TBH I'm going to look into CFD Shorting Bit now, all the bubble hall marks are there.
     
  6. GeorgeStorm

    GeorgeStorm Aggressive PC Builder

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    Blimey, and I still remember accidentally leaving .3 or so of a bitcoin in a pool wallet because it was worth nothing and I was getting rid of my gpu and basically forgot about it then the pool not existing when I later tried to get it :(
     
  7. MiNiMaL_FuSS

    MiNiMaL_FuSS ƬӇЄƦЄ ƁЄ ƇƠƜƧ ӇЄƦЄ.

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    Well I bought one coin when this thread started at £3,259.92 (largely because I wanted to feel I owned a coin) and just cashed out at £7,405.76 because I finally got scared. It'll probably keep going, but I;m happy with my gamble and will leave a few hundred quid in one just to see.
     
    Guest-23315 and GeorgeStorm like this.
  8. Mister_Tad

    Mister_Tad Will work for nuts Super Moderator

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    I'm taking a similar approach - end of the day, cryptocurrencies are still funny money, and I'd rather have triple my "investment" in real money than 10x my investment in funny money, especially if the bottom falls out.

    I've been riding the waves for a while now, I dumped a bunch last week at ~$8000. Would I have rather held onto it until now and dumped today? Sure I would have, but until bitcoin stabilises and I can pay a mortgage with it, it's just a game.
     
  9. Guest-23315

    Guest-23315 Guest

    Y'all need to learn about Sharpe's Ratio & ROI before you get glum about cashing out at $8K.
     
  10. Mister_Tad

    Mister_Tad Will work for nuts Super Moderator

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    Ah, you misunderstand. I'm not glum, not in the slightest. Best case scenario I'd like a time machine, aside from that I'm completely content with any scenario that's not losing ever last penny.
     
  11. MiNiMaL_FuSS

    MiNiMaL_FuSS ƬӇЄƦЄ ƁЄ ƇƠƜƧ ӇЄƦЄ.

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    I'm considering putting a little of my winnings, into LiteCoin, looks a little more consistent than BitCoin.


    Taddy - those beautiful valves make me jealous...
     
  12. Guest-23315

    Guest-23315 Guest

    Last edited by a moderator: 28 Nov 2017
  13. Guest-23315

    Guest-23315 Guest

    Also, was in an article I was reading today in relation to the bubble factor, Bitcoin has become a prime example of a Veblen Good.
     
  14. Gareth Halfacree

    Gareth Halfacree WIIGII! Staff Administrator Super Moderator Moderator

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    You - and the fact that there's a new venture capital fund set up which operates entirely in Ripple - have convinced me: I've cashed in half my Bitcoin (and all my Bitcoin Gold, now I have a wallet that can actually do that) and converted it to Ripple. TO THE MOOOOOON!

    (Figured I'd leave half the Bitcoin alone, just in case. Reduces my potential gains, but spread the risk: if one of 'em dies on its arse I'll only lose half my cash...)
     
    Last edited: 29 Nov 2017
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  15. TheMadDutchDude

    TheMadDutchDude The Flying Dutchman

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    I can't believe BTC is already north of $11000 this morning. Daaaaamn!
     
  16. Guest-23315

    Guest-23315 Guest

  17. Ferino

    Ferino Active Member

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    I'm a complete newb to all this and trying to do a bit of background reading but difficult as I don't know which website/tutorials are the most trustworthy. I'm thinking of chucking a few quid into crypto currencies in the new year. Nothing major prob about £100-200, and just leaving it sit for awhile and see where it goes. Prob going to have a look at riffle and either litcoin/etherium. Just looking to get peoples recommendations on a good secure wallet and a decent exchange. Something that people have good experiences using. Thanks in advance.
     
  18. Gareth Halfacree

    Gareth Halfacree WIIGII! Staff Administrator Super Moderator Moderator

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    For small purchases of Bitcoin or Ether I use Coinbase (referral link: buy £74+ of any digital currency and we'll both get £7 of Bitcoin for free); for larger purchases and sales I use Coinbase's GDAX exchange, which is fee-free for market makers (saves you a bleedin' fortune). You do have to fund GDAX using a bank transfer to Estonia, though, which can be expensive; look at getting a Revolut or Fidor account then make Faster Payments deposits there before sending a SEPA to GDAX, it'll save you a tenner or so a time. (Also, Revolut will be adding the ability to invest in Bitcoin directly from the app within the next two weeks - though, oddly, you won't be able to receive Bitcoin from or send Bitcoin to anyone outside Revolut...)

    Coinbase don't do Ripple, though, so I bought a bit from Cryptomate at a fair whack over market value. A cheaper way of doing it, especially if you're throwing decent cash at it, would be to buy Bitcoin on GDAX and send it to ShapeShift or Changelly for conversion into Ripple.

    For wallets, I use a Ledger Nano S hardware wallet with Bitcoin and Ripple clients installed. At £70, though, it's not really worth it if you're only investing £100 - so look into the Bitcoin Paper Wallet Generator and Minimalist Ripple Client for cold storage. For spending, the Minimalist Ripple Client looks like bumholes but works perfectly well, while I'm partial to Samourai Wallet for a mobile wallet.

    For real geek cred, though, pick up a set of OpenDimes. They're basically sci-fi credsticks: you drag a random file onto it, it uses that as one of its entropy sources, generates a private key that not even you can access, then you can add funds to it whenever you want. Those funds remain completely secure until you physically pop a component off the board by pushing a pin through a hole, at which point the private key becomes available. They're designed for handing off to someone in person: with a traditional wallet there's no guarantee the person giving you the Bitcoin didn't keep a copy of the private keys and will take the coin back as soon as your back is turned; with an OpenDime they simply can't do that. Clever stuff!
     
  19. Ferino

    Ferino Active Member

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    Cheers mate, that's very helpful. I won't be going into the currency to heavily to start, but I'll check out your links (the referral one for sure) thanks again.
     
  20. Mister_Tad

    Mister_Tad Will work for nuts Super Moderator

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    How is reliability these days, in practice? I signed up to the text alerts from a while back, as there was a time when Coinbase having a bit of a wobble had a direct correlation to the BTC and ETH value, so it was a nice way to flip in and out. I'm still signed up even though this isn't really the case any more, but do still receive a fair few service alerts out.

    I'm using CEX.io which has been faultless. For those that are squeamish about using bank transfers to start with, they will let you load with a credit card, and my bank hasn't ever charged me a cash transaction fee as a bonus. You are quite limited (~$1000/month, though it's per-currency across USD/EUR/GBP/RUB so max ~£3000 or so) in the amount you can load in until your account has been fully verified though, which can take a couple of weeks.
     

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