bitcoin trading.

adindas

My conclusion from small resarch on YouTube, the best way to save your CC is to use Hardware Wallet Ledger Nano S. Because it matches the performance of Trezor (its predecessor) but you could get it at a lower price. During Black Friday amazon used to sell it for around £63 while Trezor it is around £90 or more.

I fully believe that those who are buying CC and doing their own deskwork fully aware that they are speculating instead of investing, therefore fully aware about the risk associated with it. So please no comment on the risk.

Has anyone found a better value to save your CC ??

thanks

BananaRepublic

Bonnie151 wrote: »

I own (I refuse to call it investing) Bitcoin, Ethereum, Litecoin and a bit of Doge.

Quite right, it’s not investing, it’s speculating.

adindas

BTC definitely has value. The value comes from:

1. How the Dark web & Money Launderer value the BTC anonymity and thus prepare to pay the premium price over traditional currency. So as long long as these group keep buying the CC there is always be a demand.

2. The value comes from efficiency over the traditional currency. No control from a country central bank, fewer middle man, etc.

Aegis

adindas wrote: »

BTC definitely has value. The value comes from:

1. How the Dark web & Money Launderer value the BTC anonymity and thus prepare to pay the premium price over traditional currency. So as long long as these group keep buying the CC there is always be a demand.

2. The value comes from efficiency over the traditional currency. No control from a country central bank, fewer middle man, etc.

I don't know how much value support comes from criminality, but I wouldn't like to invest in an asset simply because its value was propped up by criminals. That strikes me as both highly immoral and extremely dangerous given how often laws are brought in to counter criminal behaviour.

As to the second point, from what I've seen the bitcoin network is far less efficient than normal currency. Comparing it to sterling:

• Average clearing time: Same day (usually instant) for most sterling transfers, 1.6 day average for most bitcoin transactions (with apparently about a 30% failure rate at the moment?).
• Payment methods: In sterling I can use credit and debit cards, physical cash, cheques or bank transfers. With bitcoin, it's pretty much just the transfer option.
• Actually spending it: With sterling, using the payment methods above, I can pretty much buy anything I like from any retailer in the UK and most internationally, albeit subject to spot currency conversion costs (which I mitigate by using prepaid cards in that currency). Spending bitcoin means either transferring it into sterling and then spending sterling or finding a retailer that actually accepts bitcoin and transferring to them.
• Holding it: With sterling I have bank accounts which I can access from anywhere and which are subject to a statutory compensation scheme in the event of loss. With bitcoin, I have to maintain a private key somewhere, and if I lose that I lose everything. If bitcoin is stolen from an exchange I'm using, I lose everything. If someone obtains my key somehow, I lose everything.

There's just no competition. Sterling beats bitcoin hands down in terms of efficiency.

adindas

Aegis wrote: »

I don't know how much value support comes from criminality, but I wouldn't like to invest in an asset simply because its value was propped up by criminals. That strikes me as both highly immoral and extremely dangerous given how often laws are brought in to counter criminal behaviour.

As to the second point, from what I've seen the bitcoin network is far less efficient than normal currency. Comparing it to sterling:

• Average clearing time: Same day (usually instant) for most sterling transfers, 1.6 day average for most bitcoin transactions (with apparently about a 30% failure rate at the moment?).
• Payment methods: In sterling I can use credit and debit cards, physical cash, cheques or bank transfers. With bitcoin, it's pretty much just the transfer option.
• Actually spending it: With sterling, using the payment methods above, I can pretty much buy anything I like from any retailer in the UK and most internationally, albeit subject to spot currency conversion costs (which I mitigate by using prepaid cards in that currency). Spending bitcoin means either transferring it into sterling and then spending sterling or finding a retailer that actually accepts bitcoin and transferring to them.
• Holding it: With sterling I have bank accounts which I can access from anywhere and which are subject to a statutory compensation scheme in the event of loss. With bitcoin, I have to maintain a private key somewhere, and if I lose that I lose everything. If bitcoin is stolen from an exchange I'm using, I lose everything. If someone obtains my key somehow, I lose everything.

There's just no competition. Sterling beats bitcoin hands down in terms of efficiency.

Keep in mind buying CC is not illegal here in the UK. So tere is not any illegal activity here.

Regarding efficiancy, this is because their popularity and acceptability has not reached the same level with traditional.

At the moment currently over 100,000 merchants have accepted it. But keep increasing.

https://www.cnbc.com/2017/12/07/heres-how-you-can-and-cant-spend-bitcoin.html

"Over 100,000 merchants worldwide accept bitcoin. Notable ones include Microsoft and Expedia, as well as the online electronics retailer Newegg.

Considering that bitcoin is a digital currency, it's more rare for actual stores to accept it as a payment method. But, as CoinDesk points out, some business are beginning to, such as REEDS Jewelers, which has over 60 retail locations in eastern U.S."

pennystretcher

Worth reading what Warren Buffett said about bitcoin. (News articles dated this week) I'm tempted, but hesitant as there seem to be so many indicators that a crash is possible. I wish I was one of the lucky ones who bought some a few years' back

adindas

pennystretcher wrote: »

Worth reading what Warren Buffett said about bitcoin. (News articles dated this week) I'm tempted, but hesitant as there seem to be so many indicators that a crash is possible. I wish I was one of the lucky ones who bought some a few years' back

There are a lot of Vidoes on you tube regarding what the people like, Warren Buffett, Bill Gates, Richard Branson, Elon Musk are saying about Crypto Currency.

About the probability of bubble burst / crash will hapen at some point in the future, well any person who is speculating in CC should already aware about this. Otherwise they should not get involved in CC from the first instance.

Even in business bubble burst / crash did happen. Remember about Dot-Com bubble burst around 1997 - 2001. If it did happen in business which arguably have more value than CC let alone CC it self.

sstjc

I decided you got to be in it to win it... or lose of course.
I'm keeping a record on my blog https://ineptinvestor.blogspot.co.uk/
Theres a lot of very good but conflicting info on this thread so I decided the only way is to give it a go. Be interesting to see if Ethereum takes a bumpy ride south like Bitcoin and Litecoin or keeps on climbing. I'm holding back on it at the moment because I think it will drop.... but then again :-D

4_Pete's_Sake

I apologise for using the term "invest" in the same sentence as a CC. It is off course a complete gamble and just like the dotcom boom it is a bubble that already seems to have an unrepairable puncture. Both ETH and BIT down another 10% today even on high volume.
BIT - $12200
ETH - $1150

enjoyyourshoes

Is the beginning of the end for the meteoritic rise of Bitcoin ?