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CRYPTOCURRENCY

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Can we keep all the sensible crypto ans drug chat in here.

Multiple lawsuits incoming from the other deleted thread

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Yeah, that's true.

It's a weird aul thing.

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Much did he get cash wise is there a figure on it

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More I think about this stuff it's all a big massive load of nothing.

Clearly a lot of people are making a fortune of it all, even people posting here but can't see any real value to it, which is weird as clearly there is with Bitcoin worth 10k or whatever it is. All a bit surreal.

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Bit Mirror

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I don't know how people can't see the utility in instant, free transfer of currency without the need for a bank. Yes there's a huge bubble, but the technology behind some of this crypto is brilliant. It's early days. I'm not claiming that crypto is going to replace traditional currency in the next 5 years, but it is undoubtedly the future.

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Amazon hasn't done away with the need for shops but it has changed the way people shop. I reckon crypto won't do away with traditional currency but it will change the way we use it.

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That first bit I can see Gerry. Still just seems mad so many different types of it. Seems very complicated tho early early days. No doubt it will look a lot different in 5 years and prob be more mainstream

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For that to happen it needs adopted by a large bank (ECB) or government. Until then, it's a cash cow for the inventors and big investors.

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That's no different to standard currencies Gerry. I have a GBP, EUR, USD, SGD and JPY account. I can transfer between them instantly with no transaction fees (unlike your cryptos). All those currencies have a realised volatility of ~7% unlike your cryptos which are around 100%. I also earn interest by holding deposits in any of those currencies which cryptos do not pay.

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www.smh.com.au/busines...

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Simple to overcome those hurdles if we want bitcoin to become a currency though.

The history of money teaches us that they key to any token exchange becoming currency is a decree or legislation allowing for taxes to be paid in it. Can't see that happening at all with Bitcoin for a few reasons. For me, it's essentially a means for road testing the ultimate innovation here which is the Blockchain and it's other iterations.

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Definitely money to be made short selling this bullshit.

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Need deep pockets to short it. Buy put options but they're expensive as the implied vol is so high

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Short selling can be disastrous though. You essentially have to continually keep backing your original call to say short as margin calls take place which means losses can, in theory, be like limitless. But if your conviction is that it'll crash eventually and you have the capital to see it through... you're partying. The Big Short was an excellent film for demonstrating just such a high stakes scenario

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I don't think it's weird at all tbh. I mean people are complaining about $60 fees to skip the que and have a bitcoin transaction anywhere in the world. If your moving more than £10k in cash out of the country you have to decare it all that bulshit (not that I ever have had this terrible problem - but any more hassle at an airport is already too much) However that's really one of the largest amounts you can move without declaring it. You cannot bring more than 5000 Rupees from India to Nepal. That's £60. Tell me how can you move money from the US to Manila for instance where a huge portion of the GDP is remittances from migrant workers - even with Western Union it costs around 25% - takes 5 to 10 days, so thats potentialy 4 wasted trips to the Western union booth with all your paper work (passport, sender details etc).

Now if you want to move $50m from Peru to New York al you have to do is remember 12 words in a mneomic phrase. Yup it might flucuate a bit - but now you have instituational hedge funds to keep it steady. Also the thing about bitcoin is for your average Joe - it's barely anonomous, every transaction is in the blockchain - however if you have enough money that you do want it to be anonomous that isn't that hard - it will cost, but you can essentially funnel it through a series of 10-20 tumblers and it comes out on the other side sparkly clean.

The average Joe isn't going to A be able to do that or B be prepared to pay all the fees. Enter Verge - now everyone has there own favorite - but I have been going on about verge since June and it has by far made me more gains than any other crypto - I still hold a lot of it but I'm not a vergeiare anymore :( - it's wallet is on Tor, it is so so so hard to track, not saying impossible because you through enough resources at something it will happen - but the authorities are not going to do that for Joe blow moving £7/8k about to dodge PAYE or for whatever reason - here's an article in The Sun about it ffs! Verge wasn't even on the front page of coin market cap 3 months ago. www.thesun.co.uk/money...

I see blockchain as revolutionary - and like anything, a kinfe - can be used to prepare food, can be used to malky someone. Government's, banks, multi-nationals they have all existed in 'The Cloud' and any banker who says anything about money laundering is a complete hypocrite - there is a branch of I think HSBC, in Mexico that has modified it's tellers windows to accomodate the samsungite suitcases prefered by the drug lords to launder money.
You are free to launder as much as you like as long as you can afford an IBAN number - and who can afford those? The top 0.000001% It was the amount of laundered drug money that propped up HSBC during the finacial crisis!
Also didn't they bury the news that the Pentagon had lost 2 or 3 trillion dollars on 9/11?

The world is either going to remain 'in the cloud' with business being carried out within the framework and using the infrastructure of the privately owned central banks - OR it will pubic works projects, defence budgets will be forced by public demand onto the blockchain so that the public can hold to account the elected offical to act in his electorates interests rather than lobbyists - it's potentially revolutionary.

Highly reccommend the Audioble of The Internet of Money: A Collection of Talks by Andreas M. Antonopoulos. Mind blowing stuff. The power of blockchain to change the status quo has never been remotely equaled in human history. And I'm blown away that I can have an active part in securing the network.

But to say oh bockchain, yes it's great, but it can never be money.... wtf?! It's PERFECT money. It doesn't (shoudn't) ever get lost, it's trustlesss, it's immutable, it has fungibility, it's effortless - apart from the vast amount of electric that it consumes (which actualy is starting to bother me, not from a selfish aspect because it's such a small % of the hardwares profitabliity - but rather it's so utterly, utterly wasteful) Although if it is going to underpin the smart cities of the future perhaps this is the cost. Like all that coal we had to burn to get to nuclear and renewables. If the end game is a smart city that is not only carbon neutral but carbon negative then that's just about the only hope of averting climate change, or mitigating it, or something.

It's not all about Lambo's it's picking up the ball and saying - no sorry I don't really want to play your rigged game where I have to work 38hrs a week for 15years to pay of the interest on my mortgage - that interest that you (Mr banker) just created out of thin air - before I can even get started on paying down the principle on my home.

And the banks are scumbags! A ot of people are scumbags, people tend to be selfish and when a group of people get together and believe they can act with impunity so many terrible things happen, things that perhaps 95% of of the individuals themselves would never do. But elites in a comfirmation bias loop carry out genocide. And in a way the 2008 crash was genocide - untold 100,000's took there own lives because they were the suckers left holding the bag. Did the bankers get hauled up before the Hauge? The Crown Court? The Magistrates court? No. They gave themselves bigger bonuses than ever before and blamed the whole thing on people who never had anything to loss in the first place - Universal Credit - Universal Insult, sending cancer patients 6 months in the ground letters for work capabity assesments. If anything can alow for an age of abundance and prosperity for all - and there are FAR AND AWAY enough resources - transparent blockchain governance is the only way this world can pull a U turn.

I'm not saying Bitcoin, bitcoin - that's just like commenting on plays in a game, this is more discussing the entire sport - and why the fuck are we forced to play this sport anyway? It's not to late. Get some crypto, even £50 worth. Stash it in a project or currency that is legitamate - I like Ethos and Steem - you might like something else - there is a reason people get taught all types of shit in school from 5 to 18 but not the one thing that will determine life expectancy, happiness, and secure Roswell's hirearchy of needs better than any other subject and that is 'How money works' and the reason you don't get taught that - they don't want you to know.

I have spent literally thousands of hours researching this whole scene from 2009. Although I got serious inb June of this year. Get some skin in the game. Sit on it. Don't go into debt to take part, but grab a peice of the pie - because this will never happen again. Peope say tulip bulbs - firstly that was 17th century - so how that compares to now?? Also 90% of those futures were never settled and it was just that - tulip fucking bulbs - this is reaching into every nock and cranny of society. It has soared past any bubble. It's still a drop in the ocean on the world stage. If you don't hold at least some crypto your crazy. In my, and milions of others opinion.

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No quick rich angle with them tho dhairebhoy as you need to sort of know what you are doing to make any sort of real money at that.

Where as they crypos everyone in this thread has made a handsome profit with them without really having to understand the whole game inside out

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"All in the game yo"

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Thats the point baz. As currencies they have no real value unless, as DB says, used to launder money. The technology on the other hand certainly will be used in some way and has value imo. Cryptos in their current form are a bubble and, so long as you're not the last one standing when the music stops playing, will make some people very rich and quite a few people a few quid.

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There a few big, big names came out of the dot con bubble tho

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Yep, just like the tech will come out of this one

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Dot Cotton?

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I'm certainly not having a go at you daire, I've a lot of respect for the little I know about you. And I have to check myself that I am not in a comformation bias - being so firm entreched on the other side of the fence. But the way society is headed is like the fucking movie Elysium! People are rounded up by algorythms and set against each other - except it's not in the bood baths of world war's it's the Van driver working 50hr's a week for £11p/h, no security, no company values him, the CEO of his company clears his weekly wage in a minute - yet he is primed by all the authority figures to point at the tragic drunk in a sleeping bag or the Muslim who has crossed continents just to stop being shot at - and the van driver is told - it's them, it's the peple with no voice, no stake in society they are to blame for why your inhaling so much diesel you've taken 15 years of your life and you never actually get to spend time with your family because your always playing catch up with some damn direct debit. Don't look up, don't look side to side, look down on those with fuck all squared and bame them.

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Do you not think as the Crypto train keeps rolling the idea that this somehow turns the money system on its head is just a dream? I mentioned this at a Blockchain event recently to a guy who is consulting with Banks on the tech and he didn't even register the idea that the fiat game was somehow going to be outmanoeuvred by Cryotocurrency. It seems to be the ideals of the original movers but the truth is it only becomes a real player when it is rubber stamped by the powers that own our money system.

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www.theguardian.com/bu...

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I do think cryptos will lead to big changes in the money system RP. But those changes will be led by governments, banks, etc in ways (as you say) that can be taxed and controlled unfortunately. Hence why i think the tech has value and will be adopted by the powers that be and the currencies as they exist today ultimately end up being worthless

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The beauty is, that even if Bitcoin has been corrupted - the idea's and principles and technoogy to rip it up and do it right exist and it CAN happen. It simply couldn't happen before blockchain. I would happily give up all my crypto profits up if I believed that we could build something new out of this.

And unfortuately (maybe fortunately) for those totally invested in fiat - it might all burn to the grould with a popping of the derivatives bubble which makes the entire crypto market cap ook like a scoop of sand on a 6 mile beach.

Bitcoin was born out of the last finacial crisis - the next is widely predicted to be catasrophically larger. It's really then - when the banks won't let you have your money, or the government reduces deposit protection from £60000 (i think) to £6000 - then we will really see the benifit of holding crypto.

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How can buy bitcoin on my credit card?

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Bookmark this email address bitcoin2u@protonmail.comtarget="_blank">bitcoin2u@protonmail.com> and - not til tomorrow at the earliest - you can buy untraded new bitcoin, litecoin any coin at exacty market rates the xe.com rate - not the 15% to 8% market rates that third parties such as Coinbase or Localbitcoins charge. It's only avaiable for relatively small but regular amounts and an internet bank transfer works grand. I recommend buying litecoin to start because the fees are really low compared to bitcoin

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Not a chance I'd send money to some via an email address lad lol

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What do you make of the video I posted which made the claim the move to the Lightning Network for Bitcoin means big central players to ensure adequate channels are provided at all times to get the fast transactions?

It basically says there is only one realistic option for that and it's a crypto Central Bank

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How can I get Litecoin on strap for a few weeks?

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lol it's me Takki, I'm mining the bouyo's outta the internets so I'm pretty accountable.

I don't know about that video RP, I really don't. I mean I just don't understand why they are keeping the blocks at 1mb - it doesn't add up. I don't like it actually. But I don't know know what to do about it! Not yet anyway.

An yup J, I'll do you 0.1 of a litecoin on strap for 2 weeks if you PM me tomorrow.

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I mean RP, if you look on this site btc.com in the bottom right hand corner - look how many unconfirmed transactions are piling in and look at the size of the blocks that are being mined - these blocks should be 12.5 - 13.5/14 if there's a lot of demand - not 19/20 - that's a lot of people, paying a lot of money and waiting a long time for there btc. The only thing I can think is that they are trying to make it gold 2.0 and it is a very real battle for the miners between Bitcoin core and bitcoin cash. Bitcoin cash can currency manipuate and ramp up the value of BCC because it is so centralized and they can raise $100's of milions over night releasing hardware to the public.

The only weapon bitcoin core has to keep miners mining btc is by increasing the block size and the payout. It's not perfect by any means and it's not being run the way Satoshi's white paper proposed - he said, no problem, increase the block sizes with wider adoption. But humans being humans are greedy bastards who rip, piss and shit on everything that is of value.

It's a battle for mining. I could make a lot more mining bitcoin cash but I'm not mining such a centralized currency because that's exactly what they want you to do and it'll send BTC into a 'death spiral' leaving BCC as the new and dominant Bitcoin. It's warfare in a way. And unfortunatey until more fiat gateways are opened bitcoin is really the only way into and out of the market for 95% of the population.

Something has to give - that's for sure at the moment it's a Mexican stand off.

I think litecoin has a bright future - Charlie Lee selling his position probably made him a billionaire but it also means that it can't be hijacked and as it folows the same Satoshi Nakamoto white paper but without the bitter in fighting - it should be free to increse it's block size incrementaly to facilitate transactions.

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I'm putting you on the news

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Why not mine LTC, DB? From what I've read, one of your mining rigs is meant to be brilliant for LTC.

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I am takki, I get a litecoin payout every couple of days, I've another L3+ + S9 arriving real soon - to avoid fees I get the minimum BTC payout which is 0.01 every 3 days from one S9, that takes a couple of days to arrive though because the network is so conjested.

I really wouldn't like that MM, I would probably get pissed and make a dick out of myself like when Rigsy had me interviewed for being a pro-poker player. Could I not just keep doing what I'm doing without drawing excess attention or annoying anyone please? :)

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And actually have decided I'm not selling any crypto to anyone! I just really enjoy talking about it because it's my hobby.

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And I am a notorious fantasist - notorious

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where is that video?

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This Rigsy interview needs to be posted ASAP

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www.engadget.com/2017/...

Suspicion of insider trading on coinbase with bitcoin cash.

Also genuinely impressed with db dedication and research on this. Wish I had the dedication to do something, anything outside of watching TV.

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So, decreased min withdrawal to 10 raiBlocks on bitgrail. Pocketed it. I've made 50 quid in a couple of days. Whoop.

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The good ship Raiblocks is doing the business. I told you all. Don't act like you weren't told.

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I have Iota and Verge. Have held since July and added to my Iota in between then and now. Iota up over 500%. Verge is up I think around 2300%. I like theese two coins. I am thinking about putting some money in a coin with low market cap, with some potential but will probably stick to these two.

Do you think Cryptos are the vehicle of choice to invest in today? i.e biggest potential returns. What are other people investing in?

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lol, great to see folks doing well :)

And what an unexpected comment from Shane. Much appreciated.
Ok, becausce this market is hopping about going in every direction rather than any big long posts just for the moment I'm going to try and list some of my main sources of information that I use to help me make sense of it all. And I'm going to try and break that down into sub sections - Market sentiment, chart and statistical analysis, coin reviews, ICO reviews, miner news, broader economic policy and announcements.

I'm also going to mention again that I do have lot's of coin and lot's coming in every single day - so while its not a big deal - (I have already set up an automated percentage based bi-weeky payout through coinbase into my account) - for those just getting started and maybe ony want £30/50/100 of litecoin - or, if they are prepared to wait a couple of days - with the Mycelium wallet app, I can select also ultra slow transactions of actual bitcoin (3/4 days type wait) that have very low fees. Selling coin on the board is not a big deal for me. I'm only seling small amounts and I've been around these parts for maybe 16years now, so highy unikey I can going to defraud you for a small amount... It's more of a service offered to those who fancy a punt but dont want melted with Coinbase/localbitcoins I offer the XE market rate for btc transfers and the bittrex price for LTC transfers. I have bi-weekly coin sales direct into £'s in the bank via Coinbase so selling to known name on here is not remotely relied upon by me or in anyway profiteering - no referal codes.

So I have my hot walets, mobile, coinbase, 2 exchanges and I suppose the mining pools are hot wallets. I have a pen and paper wallet and very soon hopefully I will be getting both a trezor (which I love already just because it is named after probably the maddest club ever been too) and also a ledger Nano.

Then I want to go a little deeper into how bitcoin pay's interest, has inflation bulit in and actually has yeided dividends

Finally I fully want to embrace the Steem platform start making video's, posting real information with bibiographical references - see if I can't build up a ittle platform for mysef

But right now we are in the jaws of Christmas and reality is begging to be attended too.

Good luck folks hoding over the next few day's. Get in touch those who want a smal taster to have something in the game - seting up an automated repy to bitcoin2u@protonmai.comtarget="_blank">bitcoin2u@protonmai.com> detaiing what to do shortly - but fuck I better get a shimmy on. Take care folks

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I'd love to have the balls for this. Instead I'm spending money on dishwasher, hoover and Christmas gifts.

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I just know I'd either cash in early or late and either way is shit.
What sort of investment is required to make £50 in a couple of days? And how much research went into it in terms of time?

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I'm really glad you made a good profit following my suggestions 627710117 :) I'm not in any need of a donation, but you know sometimes its nice to get a bit of recognition when someone tip's up a 500% and 2300% winner! It also encourages me to be just that little bit more forth coming with my future predictions! I don't just make them up, there are 1370 currencies on the market - when I suggest one it is on the basis of hundreds and hundreds of hours of research and questions! And I do think I am trying to help people get into crypto buy offering the quickest/cheapest why to actually buy that first bit of coin.

If you would like show your appreciation my verge (XVG) wallet is -
DHn891HYBuwyxWzPENR7DiSV13mFv2sVzi

My LTC wallet is -
LRzRUVdUAmdb7kgUBqdVtbReiKs2qo9pgK

It wil be remebered and when I make my next 4 figure move into a crypto you will be informed. It will also go towards a proprtional donation to charity this christmas! :)

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On Raiblocks? £50 would've made you £50.

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