Who's invested in Cryptocurrency

Linton

Theta101 wrote: »

Shell just made its first investment in blockchain...

http://www.cityam.com/279039/shell-just-made-its-first-investment-blockchain-uk-startup

Yes, but that has nothing to do with cryptocurrencies. Blockchain is a programming technique for managing distributed data, which could be about anything - eg global contracts, price lists etc etc. Cryptocurrencies are just one of very many applications that could benefit from a blockchain approach. Electric cars use batteries. The fact that someone uses batteries for something else tells you nothing about electric cars.

onomatopoeia99

BananaRepublic wrote: »

What on earth does that mean?

Exactly what it says. It doesn't matter if the government monitors everything, they still can't break properly implemented public key encryption with a decent key length in any sensible timescale. There isn't the computing power in the world to do it. The algorithims are public, anyone* can implement it themselves, though open source libraries to do so are available and very, very public (openssl) which take all the heavy lifting out of the implementation. The genie is out of the bottle.

*anyone = anyone that can do programming, or that can pay someone that can do programming.

fwor

dividendhero wrote: »

Have you never used a https website?

This offers strong encryption that's easy to use and won't get you marked for surveillance (though of course you can say everyone in UK is marked for internet surveillance)

I believe the post in question was talking about "Web 2.0" - a brave new world where our caring governments can watch over everything we do, using flawless and incorruptible government agents.

In such a safe, happy world they would probably not choose to be using the existing mechanisms, but would instead be using shorter keylengths, or other means to make cracking the encryption easier. Anyone who remembers the Clipper chip will know that it has been tried before.

BananaRepublic

onomatopoeia99 wrote: »

Exactly what it says. It doesn't matter if the government monitors everything, they still can't break properly implemented public key encryption with a decent key length in any sensible timescale. There isn't the computing power in the world to do it. The algorithims are public, anyone* can implement it themselves, though open source libraries to do so are available and very, very public (openssl) which take all the heavy lifting out of the implementation. The genie is out of the bottle.

*anyone = anyone that can do programming, or that can pay someone that can do programming.

Your original post was impenetrable, and I don't understand why you are going on about encryption. If you use a secure web site to buy something, then you are using encryption. Big deal. I don't understand the point you are trying to make.

[Deleted User]

I'm very new to this. I'm looking to buy in the next week, just getting my head around a few things. This is what i'm looking at - Bitcoin, Neo, Litecoin, Etherium, Monero, Lisk, Ark, also looking at ICO's - Refereum, Credits (tomorrow). Missed the White List on WePower (a green energy project), but still very interested in it. Not necessarily all of those, just finalizing a few things and reading up like crazy. Ideally, I'm preferring ICO's, in the long run. I would appreciate what people think. I think I've done my homework, but it is a new ballgame for me. I'm only playing with money I can afford to lose.

bowlhead99

Save_Dosh wrote: »

I'm very new to this. I'm looking to buy in the next week, just getting my head around a few things. This is what i'm looking at - Bitcoin, Neo, Litecoin, Etherium, Monero, Lisk, Ark, also looking at ICO's - Refereum, Credits (tomorrow).

That's a lot of things to be looking at when you haven't got your head around it and are looking to buy within a few business days.

Why not spend six months to get your head around it rather than flitting across all these shiny exciting things desperate to buy something quickly and having to 'read like crazy' to clear off your misconceptions and learn the technical and technological aspects of all the products in the crypto market let alone the nature of markets themselves.

Your sig mentions the 500/5000 you achieved in the 'save £12k in 12 months' challenge for 2017? Maybe focus on building some savings first before you pile into ICOs or existing coins which can double or halve in value in the space of a week or so.

Missed the White List on WePower (a green energy project), but still very interested in it.

It is probably a good thing that you missed it because it is a straight gamble - you don't know how it will perform, you don't really know what sort of due diligence you should do on a new offering or how to do it.

Ideally, I'm preferring ICO's, in the long run. I would appreciate what people think.

A brand new unlaunched coin with no track record that is being released into a competitive market is certainly a point at which risk of loss is highest, though the risks do not reduce drastically post launch because you can still lose many of tens of percent of value per week. You will have to participate in a lot of ICOs to find the diamonds in the rough. And in doing so will buy into a lot of high profile failures together wilth plenty of low profile failures.

I'm only playing with money I can afford to lose.

Obviously, unless you are a complete idiot.

People who lose lots of money in investing and gambling sometimes regret being mistaken about how much they could really afford to lose.

There can be a difference between how much you think on paper you can afford to lose, and the somewhat earlier point at which you reaaaaally regret losing what you have lost so far.

[Deleted User]

bowlhead99 wrote: »

That's a lot of things to be looking at when you haven't got your head around it and are looking to buy within a few business days.

Why not spend six months to get your head around it rather than flitting across all these shiny exciting things desperate to buy something quickly and having to 'read like crazy' to clear off your misconceptions and learn the technical and technological aspects of all the products in the crypto market let alone the nature of markets themselves.

Your sig mentions the 500/5000 you achieved in the 'save £12k in 12 months' challenge for 2017? Maybe focus on building some savings first before you pile into ICOs or existing coins which can double or halve in value in the space of a week or so.

It is probably a good thing that you missed it because it is a straight gamble - you don't know how it will perform, you don't really know what sort of due diligence you should do on a new offering or how to do it.


A brand new unlaunched coin with no track record that is being released into a competitive market is certainly a point at which risk of loss is highest, though the risks do not reduce drastically post launch because you can still lose many of tens of percent of value per week. You will have to participate in a lot of ICOs to find the diamonds in the rough. And in doing so will buy into a lot of high profile failures together wilth plenty of low profile failures.

Obviously, unless you are a complete idiot.

People who lose lots of money in investing and gambling sometimes regret being mistaken about how much they could really afford to lose.

There can be a difference between how much you think on paper you can afford to lose, and the somewhat earlier point at which you reaaaaally regret losing what you have lost so far.

Wow, totally rude, judgemental and condescending. !!!!!! do you think you are. I’ve spent most of my life working in merchant banks – I’ve a good understanding of markets. I’ve been reading up loads on this, for a LONG time – no flitting/shiny objects involved and am looking to invest in about 5 currencies at the moment. I’ve never been driven by money, nor am I into gambling, but I want to make a good return on ‘some’ of my savings this year, for a project, so I’m putting aside several thousand I’m willing to write off, as a little punt. I’ve followed Max Keiser and others, for many a year and was going to invest #WayBackInTheDay when it was pennies, but couldn’t be bothered to do the homework. I’ve since done the homework. I’m no expert, hence asking for advice. Incidentally, I’m quite au fait with ICO’s and the risk involved and I'm positive WePower will fly (maybe not, that's the name of the game). I don’t need your rudeness saying ‘obviously you are a complete idiot’. Is that how you spend your time, trying to humiliate newbies. If you have some useful knowledge you want to impart, feel free, but seriously, hanging around like some #GrumpyOleGeezer trying to belittle people on forums, aint kool. I’ve been following a few amazing ‘mentors’ on YouTube, hence asking for advice on here. The savings on my sig was for January 2018 – thank you for pointing it out – not bad as I’m recently not working – it's from other projects, but I have a good few thousand tucked away for investments #NoneOfYourBusiness.

bowlhead99

Save_Dosh wrote: »

Wow, totally rude, judgemental and condescending.

I'm sorry, but this is a public forum.

From a quick look at your posting history you spend much of your recent time on threads like 'save £x in 2018' or 'grocery challenges' or in earlier years in 'debt free wannabe'. Those parts of the MSE forums are about mutual support and patting people on the back to encourage them in what they are doing. I'm not knocking them, it's a valuable part of the site.

However, here on the rest of Savings & Investment board, we spend a great deal of time providing comments to newbie investors who risk making potential mistakes with their money due to lack of experience; replies can be much more frank or blunt, without regard to hurt feelings.

You think I am being rude because I was giving some stock answers using what little background info you had given about yourself. You cannot say "I'm very new to this ............. I would appreciate what people think" and then if you don't like the answer, say #NoneOfYourBusiness. It's our business if you post it in public on a forum we are reading.

I don`t need your rudeness saying `obviously you are a complete idiot`

You misquoted me by missing out a word. That's not what I said. You said you were only playing with money you could afford to lose. My response, "Obviously, unless you are a complete idiot..." means that you probably don't need to tell us you can afford to lose it, as these crypto-commodities carry risk of 100% loss, so any smart person like yourself would only be playing with money he could afford to lose, while only a complete idiot would be investing in them if it was money he couldn't afford to lose.

Don't know if you follow sport, but the football transfer deadline was yesterday. Some fans will ask their clubs whether the £xx millions they just agreed to buy such and such a player was really worth it. If the clubs respond "well, he passed the medical inspection and we have the money in the bank", the fans will say "well obviously he passed the medical and you can raise the money, as only a complete idiot would have bought a player with major unfixable chronic medical problems or signed a purchase contract for which they didn't have the money to settle, but that doesn't answer the pertinant question: is he actually the sort of player we should get for this team, for the price you paid?!"

So if you say it's money you can afford to lose - that's obvious and goes without saying, and only an idiot would be spending money on crypto that he couldn't afford to lose. But the fact that you can afford to lose the money does not help any of us decide whether Bitcoin, Neo, Litecoin, Etherium, Monero, Lisk, Ark, ICOs of Refereum, Credit, WePower should be bought for your portfolio or not.

None of that is saying that obviously you are an idiot. It is saying it's obvious that it's money you can afford to lose, as you would not be doing it if you could not afford to lose it, unless you were an idiot who didn't realise they could lose everything they put into it.

Is that how you spend your time, trying to humiliate newbies. If you have some useful knowledge you want to impart, feel free, but seriously, hanging around like some #GrumpyOleGeezer trying to belittle people on forums, aint kool.

I've helped thousands of newbies over the years with knowledge that has been useful to them. I apologise if your posting style did not mark you out as someone who was fully comfortable with the investment decisions he was about to make. You said you were going to invest in 5+ coin types and also believe that your best returns will come from ICOs, which certainly won't be everyone's experience, as I commented.

You say you are no expert so are looking for advice. Do you want us to evaluate the potential risk and reward and features and perform deep analysis of Refereum, Credits or WePower for you? A big ask. What specific bits of information, advice or opinion are you looking for here? Or are you just looking for someone to say "yes your plan sounds great good luck".

I`ve spent most of my life working in merchant banks;

I`ve a good understanding of markets

Incidentally, I`m quite au fait with ICOs

I have a friend who has also spent a great deal of her career in banking. She is a receptionist. She might also be caught with the buzz of cryptocurrency but is not skilled in financial analysis.

Here is a post of yours from less than two years ago:

Save_Dosh wrote: »

Hi, does anyone know how I can find the percentage of something on a calculator - duh ..... I really don't know. I have saved 6,200 out of 12,000 and I was wondering how to calculate what percentage I have saved of my total on a calculator. I did used to know a really easy way, but can't remember and I have googled it, but I can't find what im looking for. Thanks in advance.

This does not sound like someone who has spent much of their life in merchant banking and performing analysis of risk and markets or building those other skill sets which might be of use when evaluating ICOs and crypto currencies or markets.

Aegis

Save_Dosh wrote: »

Wow, totally rude, judgemental and condescending. !!!!!! do you think you are. I’ve spent most of my life working in merchant banks – I’ve a good understanding of markets. I’ve been reading up loads on this, for a LONG time – no flitting/shiny objects involved and am looking to invest in about 5 currencies at the moment. I’ve never been driven by money, nor am I into gambling, but I want to make a good return on ‘some’ of my savings this year, for a project, so I’m putting aside several thousand I’m willing to write off, as a little punt. I’ve followed Max Keiser and others, for many a year and was going to invest #WayBackInTheDay when it was pennies, but couldn’t be bothered to do the homework. I’ve since done the homework. I’m no expert, hence asking for advice. Incidentally, I’m quite au fait with ICO’s and the risk involved and I'm positive WePower will fly (maybe not, that's the name of the game). I don’t need your rudeness saying ‘obviously you are a complete idiot’. Is that how you spend your time, trying to humiliate newbies. If you have some useful knowledge you want to impart, feel free, but seriously, hanging around like some #GrumpyOleGeezer trying to belittle people on forums, aint kool. I’ve been following a few amazing ‘mentors’ on YouTube, hence asking for advice on here. The savings on my sig was for January 2018 – thank you for pointing it out – not bad as I’m recently not working – it's from other projects, but I have a good few thousand tucked away for investments #NoneOfYourBusiness.

The harsh reality is that if you "invest" in currencies, cryptocurrencies or commodities as an individual rather than as someone who works with these markets day in, day out, you are gambling. If you understand that and go ahead anyway, then best of luck, but people have certainly reached the mania stage of the cryptocurrency asset bubble where fear of missing out is driving decisions to buy rather than any rational understanding of why prices should continue to go up.

Lungboy

Save_Dosh wrote: »

Wow, totally rude, judgemental and condescending.

I found it helpful, informative and useful.