bitcoin trading.

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  • EachPenny
    EachPenny Posts: 12,239 Forumite
    First Post Combo Breaker
    BananaRepublic wrote: »
    Except that when it rains, the moisture will seep down, and the electronics will get wet. Is the platter housing waterproof? The platter might survive a while, but to recover the data you'd have to open it up and rehouse the internal disk. There are companies that can do that, not an easy job, but if the bitcoins are worth millions ... or pennies ...

    Until the site is capped then yes, rain will percolate down through the material. Whether any of that water will get inside the outer PC case is a matter of luck. The HD case is sealed against dust, but usually with a breather vent - which is why I suggest it would make a difference whether the PC is submerged or not.

    Recovery of data from a mechanically failed drive is relatively simple for the companies that do that kind of work. A cost of a few thousands would probably more than cover you, unless there was damage to the surface of the platter(s).

    One company says on its website that it has sucessfully recovered data from a disk which was entirely submerged in a flooding incident, and by the sound of it the value of the data involved would be in the low thousands. So unless the value of bitcoin tanks then it would probably be economically viable to recover even a relatively badly damaged hard disk.

    Finding it in the landfill site would be another story though!
    "In the future, everyone will be rich for 15 minutes"
  • ivormonee
    ivormonee Posts: 395 Forumite
    Name Dropper First Anniversary First Post
    There is of course another way to trade bitcoins and other cryptocurrencies and that is cfds or spreadbetting. I started doing this earlier in the year on a demo account and actually made a lot of (not real) money. I then traded with real money and it was shocking how quickly I lost my entire deposit. The one thing that struck me is that the volatility of these currencies means that you could just as easily lose a fortune as make it. It really is a complete gamble and certainly not for the faint hearted. I've come off the anti depressants now.
  • adindas
    adindas Posts: 6,813 Forumite
    First Anniversary Name Dropper First Post
    edited 16 December 2017 at 10:55AM
    I do not know this guy, but he presented evidence taken from the news.


    https://www.youtube.com/watch?v=uyoABcfdyAA
  • planteria
    planteria Posts: 5,321 Forumite
    First Anniversary Combo Breaker First Post
    perhaps that is the biggest threat, that the vested interests against it gun for the exchanges/investors? governments are going to want their slices.
  • elephantrosie
    elephantrosie Posts: 467 Forumite
    if i could turn back the time to june 2017, i would invest a small bite.
    Another night of thankfulness.
  • planteria
    planteria Posts: 5,321 Forumite
    First Anniversary Combo Breaker First Post
    if you could turn back time to June 2017, and keep me informed, i'd have the farm on it.
  • adindas
    adindas Posts: 6,813 Forumite
    First Anniversary Name Dropper First Post
    elephantrosie wrote: »
    if i could turn back the time to june 2017, i would invest a small bite.

    Time machine is yet to be invented but you could consider starting with Ethereum who knows it would turn mad like bitcoin in 1-2 years time.
  • pantaiema
    pantaiema Posts: 183 Forumite
    First Anniversary First Post Combo Breaker
    Coincase seems to get a very bad review here ??
    https://www.trustpilot.com/review/coinbase.com

    If you google it, there are a lot of positive reviews reagrding coinbase. But most of them come from cryptocurrency associated webpage, so coinbase might have ome level of influence. Trustpilot is trustworthy independenr review.

    For MSEr what is your personal experience using coinbase to buy and sell Cryptocurrency ??
  • miss_not_alotofmoneypenny
    miss_not_alotofmoneypenny Posts: 69 Forumite
    Try investing in "DigiByte" It makes sense right now!
  • bowlhead99
    bowlhead99 Posts: 12,295 Forumite
    Name Dropper First Post First Anniversary Post of the Month
    pantaiema wrote: »
    Coincase seems to get a very bad review here ??
    https://www.trustpilot.com/review/coinbase.com

    If you google it, there are a lot of positive reviews reagrding coinbase. But most of them come from cryptocurrency associated webpage, so coinbase might have ome level of influence. Trustpilot is trustworthy independenr review.
    Trustpilot is not an amazingly trustworthy independent review - as it is quite easily manipulated and only a minority of customers will submit their experiences anyway. Still, if you err on the side of caution and place more faith in the negative reviews you see on the internet than the positive ones, you have a better chance of not being disappointed.
    For MSEr what is your personal experience using coinbase to buy and sell Cryptocurrency ??

    My only experience was going to their website to see whether it was true that they charged 1.5% on transactions as I'd heard people mention on a few sites. On realising that it was true, and therefore six times as expensive as Bitstamp which is a large and highly credible European-based exchange I've used over the last few years, I concluded there was no point opening an account with coinbase for the privilege of paying those huge fees.
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