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  • FIRST POST
    • AG47
    • By AG47 22nd May 17, 6:39 PM
    • 564Posts
    • 141Thanks
    AG47
    Buy ethereum uk
    • #1
    • 22nd May 17, 6:39 PM
    Buy ethereum uk 22nd May 17 at 6:39 PM
    Where is the best place to buy ethereum in the uk?

    Then to get it out into an offline wallet please?
    Nothing has been fixed since 2008, it was just pushed into the future
Page 4
    • JohnRo
    • By JohnRo 18th Jun 17, 11:17 PM
    • 2,358 Posts
    • 2,087 Thanks
    JohnRo
    I guess the short version of that is that you don't know whether it will go up in value or not?
    Originally posted by fwor
    That goes without saying, what I do know is that all fiat will keep swirling down the pan.
    'We can't solve problems by using the same kind of thinking we used when we created them.' ― Albert Einstein
    'Facts do not cease to exist because they are ignored.' ― Aldous Huxley
    • economic
    • By economic 19th Jun 17, 12:13 AM
    • 1,584 Posts
    • 738 Thanks
    economic
    That goes without saying, what I do know is that all fiat will keep swirling down the pan.
    Originally posted by JohnRo
    in periods iof deflation it doesnt.
    • Linton
    • By Linton 19th Jun 17, 7:07 AM
    • 7,978 Posts
    • 7,788 Thanks
    Linton
    That goes without saying, what I do know is that all fiat will keep swirling down the pan.
    Originally posted by JohnRo
    Easy answer, don't invest in currency of any type., no currency is an investment. Currency is for exchange and short term savings. Invest in things that generate a return such as equity, debt , and property.
    • malc_b
    • By malc_b 19th Jun 17, 8:01 AM
    • 966 Posts
    • 375 Thanks
    malc_b
    I can't see people can post that investing in bitcoin or ethereum can't make a profit. Does nobody look at the price charts? The market is hugely volatile. Ethereum last Jun was $12 it is now $375, so $1000 invest in jun would be $375,000 now. Of course now it might stay at this rate or fall back to $12, so $1000 now might be $32 next Jun. It's a gamble and should be viewed as such. Only invest what you can afford to lose.

    I think bitcoin and ethereum have more in common with company shares than a currency. Pick a start up when it shares are cheap and if it turns into an "Apple" or "Microsoft" then its fantastic but it probably won't so its a gamble.
    • Linton
    • By Linton 19th Jun 17, 8:51 AM
    • 7,978 Posts
    • 7,788 Thanks
    Linton
    I can't see people can post that investing in bitcoin or ethereum can't make a profit. Does nobody look at the price charts? The market is hugely volatile. Ethereum last Jun was $12 it is now $375, so $1000 invest in jun would be $375,000 now. Of course now it might stay at this rate or fall back to $12, so $1000 now might be $32 next Jun. It's a gamble and should be viewed as such. Only invest what you can afford to lose.

    I think bitcoin and ethereum have more in common with company shares than a currency. Pick a start up when it shares are cheap and if it turns into an "Apple" or "Microsoft" then its fantastic but it probably won't so its a gamble.
    Originally posted by malc_b
    No one says it cant make a profit in the short term. What one can say is that the profit is pure speculation coming from solely from an inbalance of supply and demand - you dont get any income from owning bitcoins. In the case of bitcoin we have a paradox in that the more people believe it will increase in value the more they will want to take it out of circulation rather than use it for the mundane purpose of buying things, ie as a currency. On the other hand the less likely it is to be used as a currency the less it makes sense to buy it for the long term as it has no other intrinsic value whatsoever. This is an ideal scenario for boom and bust.

    Real investments such as shares generating dividends or re-investment, loans (eg bonds) generating interest and property generating rents do have the intrinsic value of future income. Sure, you can also have speculation in shares such as your example of trying to buy future Apples but as we saw in the dot com crash unless it is backed up by the real value it will eventually collapse. At least the increasing price of a red hot tip doesnt directly provide the negative feedback that will prevent it being ultimately successful.
    Last edited by Linton; 19-06-2017 at 8:54 AM.
    • warehouse
    • By warehouse 19th Jun 17, 9:01 AM
    • 2,926 Posts
    • 5,456 Thanks
    warehouse
    I can't see people can post that investing in bitcoin or ethereum can't make a profit. Does nobody look at the price charts? The market is hugely volatile. Ethereum last Jun was $12 it is now $375, so $1000 invest in jun would be $375,000 now. Of course now it might stay at this rate or fall back to $12, so $1000 now might be $32 next Jun. It's a gamble and should be viewed as such. Only invest what you can afford to lose.

    I think bitcoin and ethereum have more in common with company shares than a currency. Pick a start up when it shares are cheap and if it turns into an "Apple" or "Microsoft" then its fantastic but it probably won't so its a gamble.
    Originally posted by malc_b
    No, anyone investing $1000 at $12 per unit will see a return of $31,250. Any more financial advice?
    Pants
    • cynicaldoc
    • By cynicaldoc 19th Jun 17, 11:57 AM
    • 16 Posts
    • 9 Thanks
    cynicaldoc
    Shots fired!

    So where would invest? A bitcoin tracker (XBT either in euros or SEK) or direct buy?

    And I can't see an easy way for a novice like myself to buy a few hundred quid of Ethereum to hold and cross fingers.
    • parking_question_chap
    • By parking_question_chap 19th Jun 17, 7:57 PM
    • 1,361 Posts
    • 1,145 Thanks
    parking_question_chap
    Shots fired!

    So where would invest? A bitcoin tracker (XBT either in euros or SEK) or direct buy?

    And I can't see an easy way for a novice like myself to buy a few hundred quid of Ethereum to hold and cross fingers.
    Originally posted by cynicaldoc
    Yes, it rather odd.

    Get told on this thread that its as safe as a shares ISA, but good look going through all the smoke and mirrors to actually buy it, then once you own it its just trying to find somewhere safe to put it.

    • markj113
    • By markj113 19th Jun 17, 9:56 PM
    • 102 Posts
    • 80 Thanks
    markj113
    You can a hardware wallet for about £70, fully secure and handles multiple cryptocurrencies.

    e.g. Nano ledger S, trezor
    • Malthusian
    • By Malthusian 20th Jun 17, 10:10 AM
    • 2,431 Posts
    • 3,385 Thanks
    Malthusian
    Get told on this thread that its as safe as a shares ISA, but good look going through all the smoke and mirrors to actually buy it, then once you own it its just trying to find somewhere safe to put it.
    Originally posted by parking_question_chap
    What you need to understand is that fiat currency is very risky, because even though it is a highly stable store of value and a loaf of bread's worth today will still be a loaf of bread next month and a 2% smaller loaf next year, the government could at any time turn on the printing presses and steal your money. Even if they're not going to, it doesn't matter because they still could.

    On the other hand Bitcoin and Ethereum and OneCoin are safe as houses because even though the price fluctuates from day to day and a loaf of bread today could be two loaves of bread or half next month and a quarter of a loaf in a year, the government can't print more of them. The fact that they don't need to because cryptocurrency is already extremely poor as a store of value does not matter, all that matters is the government can't print more of them, not the practical economic consequences.

    You should buy Bitcoins because they will allow you to store your wealth outside the influence of The Man - however, if Bitcoins fail to store your wealth because they fall in value it's because The Man is scared of it and is trying to destroy it. Do not ask how The Man can successfully make the value of Bitcoins go down when Bitcoins are free of his influence, that is blasphemy.

    Basically, you need to understand that black is white.
    • adam81
    • By adam81 21st Jun 17, 1:47 PM
    • 209 Posts
    • 56 Thanks
    adam81
    So the idea is you buy it from a broker, say coinbase for example and from there can transfer it to a hardware wallet?

    I was thinking about investing a few £100 as buy and hold only, but the wallets are £80 so I need to make that back.

    Of course it is a gambling I'm aware of that, and a even if I punt £600 on that, it would still be less than 1% of my overall portfolio (not including property)
    • markj113
    • By markj113 21st Jun 17, 9:16 PM
    • 102 Posts
    • 80 Thanks
    markj113
    you dont need a hardware wallet, you can use a regular free to download wallet.

    The main purpose of a hardware wallet is for additional security if storing a significant amount.
    • bassking
    • By bassking 22nd Jun 17, 8:14 AM
    • 2 Posts
    • 0 Thanks
    bassking
    A very interesting thread and it seems that cypto-currencies are becoming more and more talked about amongst the general population. One of the issues that people seem to have (myself also) is the lack of intrinsic value and the fact that there are now so many. I'd be interested to hear anybody's opinion about the recent development of gold backed crypto-currencies. I'm currently researching and considering purchasing some 'OneGram' coins. This is a new (yet to be released) crypto-currency that will be backed by physical gold.
    • Linton
    • By Linton 22nd Jun 17, 9:58 AM
    • 7,978 Posts
    • 7,788 Thanks
    Linton
    See here https://onegram.org/.

    At last, the entrepreneurs and money men/women are taking over crypto currency. Every transaction generates a small fee which is used to buy more gold "net of admin charges". So hardly a decentralised operation with control spread over all the users.

    Apparently this guarantees that OneGram will increase in value. It is also guaranteed that the price of a OneGram is always equal to or more than the spot gold price. Now lets think through what happens should there be a run on OneGram with everyone rushing to exchange their bits into a safer asset like gold. Presumably the backers will support the price by selling their gold reserves to buy up unwanted OneGrams, each sale generating a small fee "net of admin charges". I hope their reserves are large enough.

    Why should I trust these central bankers more than Mark Carney? At least Mark Carney isnt charging me a small admin fee on every cash transaction.

    Any scheme that encourages early adopters by the promise of security and guaranteed future wealth paid for by later adopters paying increasingly higher prices would worry me.
    • bassking
    • By bassking 22nd Jun 17, 3:11 PM
    • 2 Posts
    • 0 Thanks
    bassking
    "Now lets think through what happens should there be a run on OneGram with everyone rushing to exchange their bits into a safer asset like gold."

    The 'bitcoins' are backed by physical gold. For every onegram coin in circulation there is literally one gram of gold in the vault...so if everyone decided to sell at the same time then the gold would be taken from the vault and distributed to the sellers. I presume the owners of the company would then use the funds to then repurchase the gold and subsequently issue more coins (not entirely sure, as I say, i'm still researching). I would say that this is a better system than the FIAT system run by Mark Carney et al in which they are able to print money without anything to back it other than 'we promise to pay it back' ... which they inevitably never will because it's a debt based system.
    • bigadaj
    • By bigadaj 22nd Jun 17, 6:05 PM
    • 9,364 Posts
    • 5,983 Thanks
    bigadaj
    "Now lets think through what happens should there be a run on OneGram with everyone rushing to exchange their bits into a safer asset like gold."

    The 'bitcoins' are backed by physical gold. For every onegram coin in circulation there is literally one gram of gold in the vault...so if everyone decided to sell at the same time then the gold would be taken from the vault and distributed to the sellers. I presume the owners of the company would then use the funds to then repurchase the gold and subsequently issue more coins (not entirely sure, as I say, i'm still researching). I would say that this is a better system than the FIAT system run by Mark Carney et al in which they are able to print money without anything to back it other than 'we promise to pay it back' ... which they inevitably never will because it's a debt based system.
    Originally posted by bassking
    So a bit like going back to the gold standard which major currencies were on early in the last century.

    Isn't this going to end up as a circular system, presumably just additional costs involved, and gold is worth whatever it is in dollars or any other currency.
    • Malthusian
    • By Malthusian 23rd Jun 17, 10:07 AM
    • 2,431 Posts
    • 3,385 Thanks
    Malthusian
    Apparently this guarantees that OneGram will increase in value. It is also guaranteed that the price of a OneGram is always equal to or more than the spot gold price. Now lets think through what happens should there be a run on OneGram with everyone rushing to exchange their bits into a safer asset like gold. Presumably the backers will support the price by selling their gold reserves to buy up unwanted OneGrams, each sale generating a small fee "net of admin charges". I hope their reserves are large enough.
    Originally posted by Linton
    Sounds suspiciously like OneCoin and AurumCoin.
    • asc1991
    • By asc1991 30th Jun 17, 2:35 PM
    • 37 Posts
    • 5 Thanks
    asc1991
    bittylicious (terrible name) is really easy and reliable for most cryptocurrency. The prices are okay too.

    The problem with things like coinbase is that it requires you to transfer to a non-uk account so your bank shafts you. Bittylicious uses UK banking and the website is very simple. Quite a low cap on buying though until you become a more established user.
    • angela2011
    • By angela2011 10th Jul 17, 9:10 AM
    • 444 Posts
    • 131 Thanks
    angela2011
    Could someone possibly post a dummies guide to buying Ethereum?

    i.e. best place to buy it and what the best wallet is?

    There seems to be various options and not sure what to do.

    TIA
    • aldershot
    • By aldershot 12th Jul 17, 11:24 AM
    • 140 Posts
    • 131 Thanks
    aldershot
    at least you can buy it cheaper now as it's halved in a month. How are the bulls doing?
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