Choose a discussion

Bitcoin/Litecoin etc

33

Original thread gone?

Bitcoin back on the up today after a couple of days with very little movement.

Litecoin doing well still but down today a bit. It really needs gox to announce a date for thier trading engine to open, kinda in limbo at the mo it would seem

@leanne I havent looked into desktop/offline wallet software, is that something you are looking into?

0 |
33

Possibly wasn't litecoin then. One of them was specifically addressing that issue in the cryptos design. Can't remember exactly. The point being that most of them have been developed as a proof of concept and not as scams. It's actually a great way to run the idea of such a currency through rigorous testing as we will adopt one en mass eventually. However the dreams of it being decentralised or outside the control of states and central banks are off the mark for me

0 |

It was possibly Etherum you were referencing to? It also has it's problems. That the transactions need to be processed/verified through the block chain, which is maintained by the miners, creates an inevitable bottle neck and a massive disincentive for them to allow traffic to flow freely or cheaply. Decentralization is a largely a myth in my opinion. Capital/resources/nepotism will always exert considerable gravity.

I got a phone call today from my bank wondering about all the recent foreign bank transfers - I have been with this bank for over 20 years - Told them I was buying altcoins and they have limited my transfers to £300 while they investigate..

The banks do not like this. It would be insane to think that bankers, traders, hedge fund managers, are not acutely aware of crypto. They don't paticularly like it. But have no choice but to get involved. We have one of the rareset windows in time where the foundations for a new medium of exchange - think how a currency/protocol like IOTA could facilitate smart grids, with 200,000+ transactions a second, no fee's, a GUI intergrated ledger - It would be impossible with Fiat. Extrapolate that to every other human enterprise and I think its amazing. I am just not sure that it is an investment vechile. It's like buying shares in 'the internet' - If however the talks with Microsoft, Bosch, IBM, Unbuntu, Volkswagen, Cisco to name a few result in an IOTA specific ASIC - then the currency goes to the moon. Rem, when buying IOTA your buying 1 million IOTA - or 1 MIOTA one IOTA is currently $.00000093

0 |

The company I work with actively selling Blockchain technology and services to all the big banks. They are seeing it as a massive reduction play in their transaction costs.

Recently attended a financial services seminar by Microsoft and the big tech they are looking to are Blockchain, Bots and adopting open API infrastructure. They are all over the tech but it's different on the investing side. Many funds can't due to their finance models and the inherent volatility in it. They are more likely to back companies pushing the tech rather than stacking up on IOTAs.

Heard an interesting idea recently about small scale cryptos for local currencies. Picture a Belfast-coin run on Blockchain or equivalent.

0 |

Blockchain and DAG - sounds like a sitcom. But yea the Blockchain and Directed Acyclic Graph offer massive reductions in costs and savings in energy.

Sure that real life example of Installing peak shaving equipment, just to lower the from 240 to 220ish - 1 month of consistant readings prior. £8,000 worth of equipment to be configured- and it's footprint to be accounted for - Then an on-going service agreement of £200 a month. If the poles, sockets and machines were speaking the same language the amount of efficiency savings that could be made in just one paper mill in Northern Ireland is huge.

The more I look at it, it's not renewables, or energy effeciency that will make any sort of dent in climate change its the smart appropriation of resources in real-time. I could talk about AGU's in the North and DSU's in the South. But I was really shocked - no pun intended - to see NIE as a main patron of the Internet of Things Alliance.

You can be sure if they are in there is money to made, most awkward crowd to get to do anything.

Regarding the Banks - sure didn't the Federal Reserve launch Ripple/XPR for intra bank lending - I think they have over a 100 banks running on that protocol at the moment. It's the 4th biggest crypto. Please don't tell me you sold out to the banksters RP!? :p

0 |

Sold out all the way. I actually worked on the Lehman admin for a long time.

0 |

Also, becoming more and more relevant is a unit of transaction and exchange that is quantum resistant. Thus the move to ternary over binary. Nobody knows how the Bitcoin blockchain would react to a quantum attack. It is hypothesised a ternary system would survive.

Regarding banks pushing companies over tech - I totally agree. IOTA are creating and dropping partnership hints all over the shop - I've spent a lot of time thinking - why IOTA? Why should it be the most widely used currency in the history of the world? There are many, many reasons why not - the most compelling reason is, something has to be. And if you look at the competitors, all the same reasons apply to them only more so due to their vested intrests.

IOTA has first move advantage, being in development for 2.5years before floating. But if Amazon turned its cloud computing power to developing a similar payment system, in terms of machine hours it could only take that in a week. However anything Amazon creates is constricted to the Amazon ecosystem - same with Apple Pay - Android Pay etc etc. What it really needs is sales people! And it's done a pathetic job at media engagment - It floated 2 months ago

The fact that IOTA has 'come from beyond' with no legacy burdens make it an intresting proposition to any and all manufactures. It's non-profit, only open source, has an IOTA eco system fund of $10million and scores of dedicated departments in the worlds most renowned universities decicated to researching the platform.

blog.iota.org/iota-eco...

I would love to be challenged on this as I have put my own cock and balls own there on the markets and am acutely aware how easy it is to 'drink the kool aid'

Bloody annoyed missed the $0.75 flash crash, back up to $0.93. Cynical me reckons they are manipulated by the markets to wipe out leveraged positions (you can leverage 1:15 on Bitfinex)

Anyone wants to get involved I have a floating $800 I can transfer if you are well enough known, not a dick and sign up using this link www.bitfinex.com/?refc...

0 |

You can do more wreckage from inside than out RP - don't drink their Kool aid!

0 |

If markets like these are not walked up and down by large investors then it would be a shock to me. Don't know about IOTA but certainly bitcoin. Sure they have OTC services for BTC now

0 |

Would shock me as well. There's a saying (that I frequently and stupidly ignore) if you store your coins on an exchange and don't hold your own private keys, you don't own your coins. I have absolutely no faith in myself to predict a 'market' I got burnt with an IG account. The only time I'm going to use IG in the future is to go long on the FTSE 2 weeks in December.

I think I'm doing pretty well if I can understand around 50% of a product.

Right now I'm torturing the IOTA/slack community for information on the ASIC. I'm unlikely to get anywhere but not giving up. Because the more I think of it, the more pointless investing in IOTA is unless it has a mass produced ASIC.

This is the height of the investigation so far - a couple of leaked screen shots from the Bosch Intranet
imgur.com/a/849Cr#84fRopF

0 |

im extracting my bcc from my btc and sticking it into iota, free bet baby!

1 |

Its all complete gibberish to me...I just want to give someone a tenner and have a million or so in a few months....not a big ask really.

2 |

This may sound like a stupid question but can someone explain how the internet of things links in with the currency?

0 |

It's not the currency per say. It's the platform itself. Self assurance of the overall system. Each node is an actor in transactions but also as a guarantor of the systems validity. Blockchain needs miners to invest tonnes of time and energy to verify transactions, IOTA does it in real time at almost zero cost.

That allows machines to interact and at the same time maintain the network essentially. The messages between them can be verified instantly at low cost and so it allows for it to used at a huge scale (like for the internet of things) the need for human oversight is reduced to managing by exception and supplying/maintaining the infrastructure.

0 |

Truly fascinating but is there a starting point where someone as green as I can get even the beginning of an understanding of what this all means....like WTF is the internet of things?

0 |

Your washing machine has a sensor which is connected to your Google home which is connected to your energy app and it turns on when electricity prices are low and you get it cheapest. One example but when you want more public machines like self driving cars talking to each other you need an ecosystem that can verify the messages between them and the infrastructure that supports/interacts with them. Millions of transactions in no time. Needs to be done at scale and at low cost with us able to trust it.

0 |

Its when your fridge is connected to the internet

1 |

Think of the verification of electronic purchase nowdays. That takes a huge amount of expensive infrastructure to carry out. But it's essentially just passing data and verifying it. So if we are talking about machines interacting with many more times the scale of transactions we can't just use the same tech. We can't scale it to the level needed

IOTA claims to offer the solution

1 |

Are you knee deep RP

0 |

Think Skynet, just before it becomes self aware.

1 |

I just transferred from BTC to Bitfinex. Does it take out about 30 mins?

0 |

Did ya use my refferal code?

0 |

68.media.tumblr.com/0e...

0 |

When buying, (discovered by trial and error), it's advisable to leave to create a buy order of 25% (or more) of your inital capital 25/30% below current market rate to benefit from a flash crash, like earlier today.

0 |

If you use this referal code you save 10% in trading fees (I also get 10% of your trading fees) but if you plan to buy and hodl they are insignificant - If you use the code and need some help navigating the site I can help with that. www.bitfinex.com/?refc...

0 |

"I also get 10% of your trading fees"

There it is.

2 |

I've made near $3000 this week moonbeam, the fuck do I care about 10% of 0.001% - the person who uses the code also saves 10%, and I will give them limited assistance on using the platform. Hope your practising your buffing skills. If I see one smear on my Lambo so help me god..

0 |

www.cryptocoinsnews.co...

0 |

So I have bitcoins ready to trade. I remember messing about with forex trading. If the price spikes down will there be a margin call and I lose all my investment. I would like to hold for the long term. I guess that means non-margin trading? I haven't taken a position yet, can I still use your referral code?

0 |

All this bullshit and it all boils down to referral codes lol.

0 |

I am not knee deep at all Kilo.

Been interested in it for a few years but more from the political side of the debates, recently the tech possibilities.

A lot of the tech guys selling this stuff in the mainstream don't even consider the socio-political impact cryptos can have, given the monetary system that is currently in place. There is a lot of power in their design. I asked our blockchain guys at a talk they were giving what impact bitcoin or similar would have if adopted en mass in a world based on a fiat monetary system, given its dynamics are very different. They hadn't a clue what I was on about. They seemed to just see it as a new piece of tech they could sell to big business.

1 |

You still can yeah - just transfer your btc back into your btc wallet and sign up again with a different email, password, using my link. The, in PM if you like, I can explain to you which of the 3 wallets to use, how to convert into USD, then submit 3 tiered buy orders for IOTA, 65% of capital in at 98% market rate, 15% at 90% of market rate and 20% at 75% of market rate. That's my strategy anyway. Although I've now filled all my buy orders.

Aye sure TJ, just ignore the couple of thousand words where I explained and advised the currency that gained 100% in a week.. Utter mop bucket

0 |

Just keep collecting your vouchers m8, this time next year you'll be a billionaire.

1 |

Big buisness cryptocurrency freelancers - some of these cats are looking $100p/h I reckon there would be considerable scope for someone verbalising the features and savings of implimenting IOTA intergration. No end of people willing to do the code - in fact the IOTA foundation are offering $10,000,000 to promote their ecosystem.

www.upwork.com/o/profi...

0 |

You keep practising your Mr Miyagi - wax on - wax off

0 |

I'm glad you returned to try and squeeze some referral money out of folk here, this revelation has given me a good chuckle. Thanks for that.

2 |

lol, captain no clue! I'll to get a good chuckle watching you get that squeegee all up in my rims. Of my Lambo. That you will be washing. Because your a feckless, ill mannered wretch

0 |

I don't think I will bother creating a new account and transferring bitcoins in and out again. What Wallet is advisable to use? I presume I am keeping my bitcoins in a bitfinex wallet at present? Is it safe?

Yes would be keen on how to set up that strategy. It won't be leveraged. Like if it drops say 50% I can still hold?

0 |

You've asked a lot of questions there that would take me quite a while to talk/walk you through, it's really quite a lot of bother while trying to manage my own $6.5k of postions and get a ton of work I've neglected done!

0 |

TJ seems to specialises in trying to ruin other people's discussions on here for some reason. If you're not interested or dont have anything worthwhile to contribute, why comment?

Doombadger, for all his mad chat in the past, is actually offering some decent advice and is offering to provide help with something. Why try and shoot him down?

0 |

isn't that TJ's sole purpose on here? i mean, hes a troll and exists simply to get a rise at every opportunity, its sometimes amusing tbh

0 |

DB i'll use your referral code but tbh i'm falling flat at the first hurdle.. how in the fuck do i get money into the system in the first place... seems wile complicated to a first timer

0 |

I am just looking for some help at the start doombadger, nohing major. I literally want to stick put a position in iota and let it sit. I just don't want it suddenly cancelling my position on a margin call, don't want any leverage. No problem, we are all busy.

0 |

Surely no leverage means no margin calls? You are investing cold hard cash not posting collateral. Margin calls come in when your collateral is not enough to cover the amount you need to hold a position losing value

0 |

Yeah don't want any leverage at all. just what I currently hold

0 |

I really have some shit I need to attend to folks, I'll be back in a bit, it's not so complicated when you know how like

0 |

Can't believe Takki is attacking me simply for not agreeing with his right-wing hate speech. Sad.

I have no qualms with people availing of this idiot's discount incentive scheme, in fact I encourage it. Put your life savings into it as far as I'm concerned. Can't see any potential pitfalls tbh.

1 |

TJ isn't a troll.

valued poster. massive name

1 |

Thanks for the support baz. Don't understand the troll accusation tbh.

0 |

I like TJ's posts too, but sometimes it's just a bit desperate. Doombadger should be encouraged to post on here more often. He's a forumming legend and his tales have gone down in the history books:

Steeerooked in Marakech: ftp://mcp@mcpsafety.com/public_html/takkischitt/stuff/eejits/doombadger_madness/Steeerooked_in_Marakech.pdf

Girl in my bed: akkischitt.com/stuff/e...

Small claims court: ftp://mcp@mcpsafety.com/public_html/takkischitt/stuff/eejits/doombadger_madness/Small_claims_court.pdf

0 |

copy paste fail

Steeerooked in Marakech: akkischitt.com/stuff/e...

Girl in my bed: akkischitt.com/stuff/e...

Small claims court: akkischitt.com/stuff/e...

0 |