BITCOIN

Scottex99

lozzy1965 said:

This is not meant as a "See I told you bitcoin was rubbish..." comment, but from today's South Africa Bitcoin fraud story:

"The lawyers hired by the investors found, through blockchain analysis, that coins from Africrypt’s wallets had been run through Bitcoin mixers and tumblers to hamper any further tracing. Cryptocurrency exchanges were said to be on the look out for any signs of anyone trading the coins."

I thought one of the benefits of Bitcoin was that it was totally fraud proof because everyone on the planet has a copy of the ledger saying who owns what?   Just wondering if anyone can explain what these 'mixers and tumblers' are and how they make tracing stolen Bitcoins hard to track?

I'm more surprised some random exchange from SA managed to accumulate 69k BTC.

Mixers are used to make it more difficult to figure out the history of where a coin or coins have been and their wallet history etc. Actually I'd say most big exchanges like Binance/Kraken are essentially mixers now too as they do so much volume. Good luck trying to track 1 BTC through their infrastructure.

Every single BTC txn that's ever happened is recorded, yep. Doesn't mean you'd have half a clue of what each of them where though, and you don't know who owns the wallets (unless you do already know).  

deejaybee

Have a question on ETH / ETH2

ETH & ETH2 are both shown on Coinbase, and have exactly the same price, obviously only ETH is "tradable" on there now.

I dont have any ETH, but if i bought some, what happens when ETH2 goes live ?  are ETH and ETH2 just "merged" together  ?

Scottex99

Pretty much, yeah. I need to read up on it but ETH 2.0 isn’t even guaranteed to be launched this year. 

As a side note if you have no ETH right now, you should get some

deejaybee

All the £££ i stuck in is tied up in coins at the minute, i refuse to sell anything at a loss ;-)   when ( hopefully) there is an uplift and i can turn a profit on them, will start concentrating more on BTC and ETH ( do already have small amount of BTC )

Scottex99

Looks a good deal, unless you desperately need a tenner, could just leave it there for 5 years 

staurthag

Scottex99 said:

Looks a good deal, unless you desperately need a tener, could just leave it there for 5 years 

its storing it on my phone for 5 years then forgetting my password that'll be the problem. lol

I'm just going to leave it in it, just so I can tell people when i'm out I have some bitcoin ha

Scottex99

Every single bar/restaurant I go to these days, I end up in some kind of crypto chat. Happened to me last night and 95% it’s not driven by me.

Pretty cool cause most are noobs asking if they should have bought dog coins but there are some people that know stuff too.

In 10 years it will be like talking about banking

Type_45

Scottex99 said:

Every single bar/restaurant I go to these days, I end up in some kind of crypto chat. Happened to me last night and 95% it’s not driven by me.

Pretty cool cause most are noobs asking if they should have bought dog coins but there are some people that know stuff too.

In 10 years it will be like talking about banking

That's a sign that you should get out of it.

Scottex99

If its dog money and meme tokens that have a quadrillian tokens in their supply being shilled on TikTok, then yeah.

Otherwise no. BTC 100k, ETH 10k

Type_45

Scottex99 said:

If its dog money and meme tokens that have a quadrillian tokens in their supply being shilled on TikTok, then yeah.

Otherwise no. BTC 100k, ETH 10k

What other assets do you own? And what's the % split of your assets (ie, stocks 80%, BTC 10% etc)?