BITCOIN

Aegis

silvercue said:

Maybe some of you guys can agree to disagree.  It is healthy do have different, even opposing, views in a forum.

Seem to be in a cycle of proving the other wrong.  

I don't doubt for a second that it's healthy to have disagreements over investment strategies.  The issue is that I seem to have been on the receiving end of some very unflattering comments, often attacking me rather than addressing the actual questions raised.  That doesn't make for good discussion or information, unless the goal is to drive away any dissenting opinions.

Scottex99

Not really, we all established that we’re not going to agree about 150 pages ago, haha.

Generally it’s just the pro coiners explaining what they like about this new industry and correcting incorrect assumptions from the other side. They think that we shill in order to keep up the “Greater Fool Theory” and we explain that we don’t because any of you buying £10k of BTC right now, has exactly 0 effect on the market.

We could really just all take a break for 2 years and come back and do the i told you so’s then.

But there’s also some decent advice imo for new people getting into the space.

Aegis

Scottex99 said:

Not really, we all established that we’re not going to agree about 150 pages ago, haha.

Generally it’s just the pro coiners explaining what they like about this new industry and correcting incorrect assumptions from the other side. They think that we shill in order to keep up the “Greater Fool Theory” and we explain that we don’t because any you buying £10k of BTC right now, has exactly 0 effect on the market.

We could really just all take a break for 2 years and come back and do the i told you so’s then.

But there’s also some decent advice imo for new people getting into the space.

We disagree, but I think we have some productive conversations.  Clearly we're never going to agree on Greater Fool Theory, but hopefully you have an appreciation for what I'm saying and understand that my questions are designed to at least provoke some introspection into the asset in question.

Shocking_Blue

silvercue said:

Shocking_Blue said:

To tell you the truth, the seemingly complicated nature of buying/holding BTC. However, have been looking at eToro and they seem to have a consumer-friendly approach. Wondered what opinions were on their 

Crypto CopyPortfolios

https://www.etoro.com/crypto/how-to-invest-in-cryptocurrency/

I use eToro.   They are easy to use and good for beginners, no commission.   But, be aware eToro is not the best place for Crypto as they charge a very large spread on any buys you make.  As high as 4% (unless this has changed recently).   They are also more difficult to move and control your crypto if you want to do anything other than simple buy low/sell high.  They also force closed all of my leveraged positions some time ago.  Having said that - they do serve a purpose.   

I own a few crypto positions there, small amount as 99% of my crypto is bought elsewhere, but some of them are currently sitting at 1600% profit.   Feel free to check my portfolio out if you want.  Same username as here. 

Thanks, silvercue,
Yep, it would just be to buy a little and then sell if/for profit at a later date.

darren232002 said:

Shocking_Blue said:

To tell you the truth, the seemingly complicated nature of buying/holding BTC. However, have been looking at eToro and they seem to have a consumer-friendly approach. Wondered what opinions were on their 

Crypto CopyPortfolios

https://www.etoro.com/crypto/how-to-invest-in-cryptocurrency/

Fair point. Hard to make any good suggestion here really as I don't know your level of tech knowledge.

I think I'm on the side of recommending new entrants to hold their crypto on something like Binance or Coinbase. View these as an online wallet like Paypal where you can convert fiat to crypto easily. Use Coinbase pro and bank transfer for cheaper fees. There's some reg risk associated with using a centralised exchange (which is why Bitcoiners will usually always recommend self storage) and some hack risk of course too, but its just easier to access and deal with for a new entrant compared to wallets, cold wallets and seed phrases.

I would steer clear of platforms like eToro, RobinHood, Revolut and others. When I last checked a year ago, the custody nature of these platforms is a bit murky and most of them are using things like derivatives to get exposure to the asset on behalf of their customers. In other words, you'll own it on paper but won't ever be able to take custody of the asset (probably not an immediate problem for you, but something to consider for the future should you wish to attempt to generate a yield on them). Have a look in to whether this is still the case as I believe some of them recognised this as an issue and were moving away from that.

In summary, cant see anything horrible with using eToro but can't really recommend their product either.

Thanks darren232002.

FrankRizzo

darren232002 said:

For example, Eminem recently bought BAYC 9055. Here is the wallet that holds that token: https://etherscan.io/address/0x5d752c35789bdfd1287971972091ba47afd3ac93 You can see that he also owns two ENS domains; rapmusic.eth and virtualweed.eth Funds to buy it came from giorgio.eth and you can follow the link to that address and see what that wallet owns as well.

Cardano explorer here: https://explorer.cardano.org/en Put your wallet address in and play around

Hi, how do you know this is Eminem wallet? How do you tie someone to a wallet? Thanks!

spnego

The main way would be through the exchanges since most you have to use kyc to withdraw or add fiat and all the transactions coming between your account on the exchange to a particular wallet may indicate ownership. 

lozzy1965

Scottex99 said:

Little snapshot of just DeFi things:

https://defipulse.com/

And also posting this again, anyone with half an open mind should give it a watch:

https://www.youtube.com/watch?v=l5TqlnD1ZSI

Just watched it all.  I have more than half an open mind and I'm less convinced after watching that film that bitcoin, and more precisely, non government backed crypto currency, has a future.  Blockchain yes.  A very exciting prospect, but the chance of investing in the right one is a little like the chance of picking the right company in the dot com boom.  It's like the wild west or any gold rush at the moment.

Scottex99

Yeah wasn't posted to try to convince anyone of anything, I just think it's very nicely done. Obviously its Pro coin but does show some of the other side too.

People can just start with BTC and ETH and go as deep as they like. Or not.

Technically we're still early, plenty of time to have a good stab at who/what the best projects will be

Angry_Bear

Zola. said:

IvanOpinion said:

Section62 said:

Makes me wonder when someone else will come along claiming Bitcoin can cure cancer.  Although I've got a feeling if I put those words into google I'll find someone has put forward that idea already.....

Waves hand Not bitcoin, but one of the companies I work for is looking at ways the block chain can be leveraged to make it easier to mine data in relation to determining patterns in relation to the treatment of cancer.  I see huge value and understand blockchain technology but, as it stands at the minute, crypto currency is far too early in its evolution to be of mainstream use.

Curious to know how a blockchain could provide value here? The entire purpose of "blockchain technology", which was created in bitcoin is to record indisputable and cash final payments. Nothing else.

Mine data? Please tell me what you mean by that?! 

Data-mining is when massive amounts of digital information is analysed (using various clever techniques) for patterns, trends etc. to generate new information. I would speculate that secure availability of medical information is a major stumbling block in applying such techniques to research into treatment efficacy, and blockchain could potentially be considered as a solution.

lozzy1965

Funnily enough I didn't find it Pro coin in its entirety (if by "coin" you mean "currency"?). 
One of the things that came out of the film for me, near the end they talk about block chain allowing people to more easily invest in certain projects which - there was so much in the film I may be mis-quoting here - but for example buying a 'share' in sustainable energy projects and getting a direct share of the income produced.  Maybe blockchain is the future of share ownership! 
This is the Bitcoin thread (as I keep pointing out) but the trouble is that this, and the Crypto thread you - Scottex99 - quite rightly started, frequently end up emphasising the "Currency" part of "crypto currency".  I'm sure many of the open minded posters on here can see a potential benefit for blockchain.  The arguments come when we start talking about overthrowing long established currencies and the world financial order with an (unnecessary?) replacement (in danger of turning this thread into another conspiracy theory thread - you can thank me for that when posts start getting funny again!).  
Early on the film is very much about the currency aspect, but currency seems to me to be quashed about 1/3rd in.  Not necessarily as unviable, but as not actually solving the issues it sets out to solve (as implied near the end of the film when the creators maintain control of and therefore power over their creations - fine while they maintain their philosophy or remain in control, but the next 'boss' may have different motivations).
A very interesting watch though, so thanks for posting.