LT42 Right, well if you’re gonna do dodgy things, expect dodgy things to happen I guess? Don’t see how that relates to bit coin investing per se’. I seem to have went off on a slant here.
FWIW Benson, Bitcoin is anonymous - that’s why it was used with the Silk Road and such like. You can scan the ledger but all you’re gonna get is 256 bit hash values out of it. It’s fairly easy to cover your tracks I’d imagine unless you’re a complete moron.
Wally FWIW Benson, Bitcoin is anonymous - that’s why it was used with the Silk Road and such like. You can scan the ledger but all you’re gonna get is 256 bit hash values out of it. It’s fairly easy to cover your tracks I’d imagine unless you’re a complete moron.
hence the reason you can get high grade “products and services” on there without the fuzz kicking in your door.
The ethereum stuff looks interesting. Can I buy a bit of a coin or how does it work, Wal?
LT42 Yeah you can buy whatever percentage of coin you want - I had something like 0.00004 of a bit coin for a bit.
Handy tip:
Install Coinbase, get set up with ID and all that.
Install ‘Coinbase Pro’ - it’s the same company so the same account with work and you can transfer between the two instantly.
Deposit your cash and buy your coins through Coinbase Pro to get much cheaper trading fees.
Coinbase is the noob version and it takes a large fee chuck out of your arse. The pro version looks like shit but is cheaper so buy through there and just watch the charts through the base version.
Only downside to Coinbase is that it’s quite restrictive on which coins trade on there. Things like Dogecoin aren’t on there for example. I think it’s because it’s trying to build up a serious rep and doesn’t want people crashing and burning with meme shitcoins. But if you go with the major players, it’s fine.
I use Binance for anything I can’t find on Coinbase.
Currently looking into coin staking. Give your coins to a third party, get yearly interest way higher than a bank. Places like BlockFi and Celsius. Not taken the plunge yet though.
FWIW, Before I jumped in, I read ‘Cyptoassets’ by Chris Burniske and Jack Tatar.
On reddit, I’ve been reading ethtrader, ethfinance and etherium sub reddits. They are pretty helpful and friendly places.
Wally Back then the internet was a nerd’s pursuit that was going to die in a ditch. It was oh so stupid and pointless wasn’t it? And then, bang, browsers came out which led to mass adoption and changed our way of life. Is it so impossible to actually conceive that something similar could happen with blockchain tech that leads to mass adoption?
Blockchain/crypto currencies are further up the technology stack, which is underpinned by the internet. The internet is more equivalent to the industrial revolution in terms of impact. The two aren’t really comparable.
The only comparable I see is the dot com bubble.
mono-stereo That’s fair I guess. I still don’t think people writing it off as just digital money are giving it a fair analysis though.
Well there we agree - there are hundreds of new coins promising all sorts of shit at the moment. The next stage is for 80% of them to die and for it to coalesce around a couple of big players to develop standardisation. I would say Etherium, being the first and major player in programmable blockchains (something bitcoin can’t do) will be one of the ones left standing after that phase.
mono-stereo Google Bitcoin lightning network.
Personally there are better projects out there which can smoke Visa and Mastercard for TPS (TXs per sec), hence why they are scrambling to get in on the act.
I had a look at Cardano and I’ve no idea what I’m looking at Hursty, this is the problem really, lol
Their fundamental aim is to give economic identity to everyone and allow the same level of access to financial instruments whether you are a Sherpa in the Himalayas or a stock broker in Manhattan.
No more financial discrimination which is abundant in developing countries, whether by sex, age, family status etc, just economic freedom for all.
Big and bold but it will happen, and they are already making waves in Africa which is where we will see the next wave of innovation come from.
I only recently got my head around “cache”, Hursty. I think I’ll have to do some research a bit further down the ladder, maybe some youtube videos before a brisk walk.
The problem is as always, governments and the media which is controlled by them indirectly are shitting their pants as they are going to lose control and power so you will see the same stories printed day in and day out causing mistrust and unease which is all they need to do.
Why not carry on trusting those politicians and bankers, nothing bad ever happened before taking this route?!
Hursty Trust me, transaction processing speed isn’t an issue for Mastercard.
If anyone is interested in crypto, I watched this at the weekend - it’s on Prime Video for free at the mo. Worth a watch.
mono-stereo True currently, but they don’t want to be displaced by better technology hence they are ramping up their crypto knowledge rather quickly right now.
Fundamentally their technology is legacy, the whole swift banking system is obsolete, governments who embrace the technology will prosper.
The UK is looking at a form of government backed crypto like China, the US and other countries, in fact Sweden are on course for a 2025 release. Not sure how they will continue to swindle the general population but no doubt they are beavering away trying to figure it out.
Essentially you have 3 major investments, fiat based, commodities and crypto assets. To invest only in one is risky which everyone understands here.
