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The mkiv Supra Owners Club

Cryto Currency


Jellybean

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Thank you, good practical experience. Had I been successful in buying I would have been in at about $2,000 so I've missed out of a five fold gain in a few months, but I would have probably sat on my hands as the price came down just as quickly!
Well yes and no. There will be minor price corrections with Bitcoin and other Alt currencies but ultimately the value will continue to rise and I believe it will surpass £10k by the end of the year. Significant price movements northwards as the public hear more about it in the press and lool to invest. I'll be getting out of the "bubble" when I know EVERYONE is getting into it. We're a good couple of years off yet.

 

 

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Giving large sums of money to unregulated companies and systems which can disappear at the drop of a hat is outside of my comfort zone. High risk = high gains I suppose. Good luck to ya.

I think you're right, whilst it remains a technical challenge it will continue to be used by the black market holding it artificially high. Isn't there a risk that governments don't want this anonymous uncontrolled trading and could order take down requests or block traffic at any time crippling the ability to trade?

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Giving large sums of money to unregulated companies and systems which can disappear at the drop of a hat is outside of my comfort zone. High risk = high gains I suppose. Good luck to ya.

I think you're right, whilst it remains a technical challenge it will continue to be used by the black market holding it artificially high. Isn't there a risk that governments don't want this anonymous uncontrolled trading and could order take down requests or block traffic at any time crippling the ability to trade?

 

Cold Paper wallets or Hardware Wallets like Nano Ledger avoid storing cryptos on exchanges and therefore are safe from these "disappearing corrupt" platforms.

 

Agreed it is still be used by black market and even drug dealers have been using Bitcoin ATM machines to launder drug money and then transfer to other exchanges and leave a trail of anonymity. So what? There's plenty of other illegal means out there and the key of digital currency is to enable peer to peer payments in Less Economically Developed Countries.

 

The majority of users will use it for its true intention, just like we all do with FIAT currency.

 

This isn't going anywhere people, the crypto market isn't going to come to a grinding halt. It is the future and all the technology behind it will pave the way for better communicative systems, audit and risk control and most of all a more open trading world.

 

 

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Cold Paper wallets or Hardware Wallets like Nano Ledger avoid storing cryptos on exchanges and therefore are safe from these "disappearing corrupt" platforms.

I'm thinking more about the companies that do the conversion. I look at https://bittylicious.com and think "Would I want to give £10k to this website?" That's a whole lotta trust - something I'm not good at.

I also didn't use the word corrupt. They could cease trading for a number of reasons - not just corruption.

 

This isn't going anywhere people, the crypto market isn't going to come to a grinding halt. It is the future and all the technology behind it will pave the way for better communicative systems, audit and risk control and most of all a more open trading world.

Blockchain is a revolution that's going to be used in many areas for transactions and documentation (passports, birth certificates, data storage etc). There was a lot of buzz about it at Web Summit when I was there a couple of weeks ago. What isn't necessarily here to stay are many of the currencies themselves.

 

The tech around storing and transacting is very simple, basic cryptography. What scares me are blips like this: http://fortune.com/2017/11/11/ethereum-parity-wallet-web-summit/

One guy had the power to halt the currency in its tracks. Should a currency end/fail/whatever - what use is a paper wallet then? My money is safe...but I can't sell it for something that will buy me a loaf of bread.

 

I also look at the CVEs for Bitcoin which although old, indicate past vulnerabilities in the core.

 

I predict that current currencies will have an expanding fan base and growing worth for the next 3-4 years whilst governments rush to keep up and launch sovereign blockchain currencies which consumers will have greater confidence in and some form of regulation/guarantees. I know that will defeat the whole idea of "it's open and uncontrolled" - but that was the idea of the Internet in the first place, it didn't stop governments from ruining that did it?

 

What are your thoughts on this: Governments and the old boys club hate new money, if they can't control it they will do anything they can to kerb it.

You've worked in the insurance industry long enough to figure out it's pretty much underwritten and run by just a few old boys in London. Are we really seeing an end to "the establishment"? (As an aside, now they'll no longer be shackled by the chains of EU regulation they can do whatever they like)

Edited by Pete (see edit history)
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Briefly hit $19k today, been feeling dizzy just watching the numbers. At one point went to make a sandwich and came back to find it had jumped $1,200.

 

Doesn't seem like anybody has a clue any more.

And why doesn't anybody seem to have a clue anymore.....?

 

 

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It defies logic. $64million stolen....and yet "The price of bitcoin has surged to more than $14,668, gaining around $2,000 (£1,494) of value in a day " ?

So even in the face of very bad news to shake peoples confidence... it still goes up.

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It defies logic. $64million stolen....and yet "The price of bitcoin has surged to more than $14,668, gaining around $2,000 (£1,494) of value in a day " ?

So even in the face of very bad news to shake peoples confidence... it still goes up.

 

Its been much higher than that today, peaking at $19.5k earlier and now settled at around $17k :D

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This has been a good week; doubled up on REQ and NEM, sold my NEM at 66c and bought back in this morning, increased my stack 38%. Request network is going to take off soon; fully expect it to be at around 80c by the end of January.
What's the tech that sits behind these coins?

 

 

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BTC futures went live yesterday, likely accounts for the rebound in value since the drop off from last weeks peak due to profit grabbing.

 

Sitting nicely around $16.5k at present :D

Yep not bad, quite surprised actually as I thought they would short the shit out of it. Still another Futures being launched around Christmas Day so I'm waiting on outcome before considering buying back in.

 

 

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A lot of people are jumping on at my work just now, just small investments mind you (£150)

 

Is it worth jumping in too at this stage? Or is there no telling what will happen once the second Futures is launched?

It's one of those "what ifs" Steve. Personally I would wait until after Christmas following launch of Futures. I doubt the price will skyrocket up until that point or shortly after it, but it could well and truly plummet. Just my thoughts of course.

 

 

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A lot of people are jumping on at my work just now, just small investments mind you (£150)

 

Is it worth jumping in too at this stage? Or is there no telling what will happen once the second Futures is launched?

 

I would put your money into Ethereum if you're looking at long term (in the order of years) gains.

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