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Bitcoin

kings hill addickkings hill addick
in Not Sports Related
Does anyone on here have a bitcoin account/wallet? I need to set one up but it is a minefield and the one I was recommended doesn’t accept payments in Sterling so there are going to be excessive fees to load it up.

Has anyone done the research and can recommend a provider?
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Comments

  • SE10AddickSE10Addick
    Have a look at Bitstamp -https://bitstamp.net/
  • Dazzler21Dazzler21
    1 bitcoin = $5739 dollars... Seriously?
  • kentaddickkentaddick
    kings hill addick said:

    Does anyone on here have a bitcoin account/wallet? I need to set one up but it is a minefield and the one I was recommended doesn’t accept payments in Sterling so there are going to be excessive fees to load it up.

    Has anyone done the research and can recommend a provider?

    coinbase, app for your phone and takes a small % of what you're taking out/putting in, but the interface is really easy to use and keep track of stuff.

    Personally.. I do think it's a bubble at the moment, and i'm saying that as some one who owns a bit of bitcoin. Until we can actually pay for stuff day to day with bitcoin easily in our local high street, there's no justification for it being so expensive.
  • kentaddickkentaddick
    I also wouldnt reccomend buying now, the price is at an all time high, wait for it to go back down a bit and then invest.
  • The_PresidentThe_President
    kentaddick said:

    I also wouldnt reccomend buying now, the price is at an all time high, wait for it to go back down a bit and then invest.

    That's what they have been saying about the London Housing market for the last 30 years.

    I wonder if the Bitcoin will continue to rise because of the upsurge of interest from ordinary folks like me who have suddenly discovered the Bitcoin because of the recent publicity ?
  • Stu_of_KunmingStu_of_Kunming
    Coinbase is pretty good.
  • eaststandmikeeaststandmike
    AFKA is your go to man, Bitcoin is his middle name.
  • MLSMLS
    You're right that it's a minefield. A minefield that's getting bigger by the day though and investment firms haven't really woken up to it as yet...other than perhaps Hargreaves. I've got a bit of Ethereum, more as a toy to see how it all works.
  • kings hill addickkings hill addick
    MLS said:

    You're right that it's a minefield. A minefield that's getting bigger by the day though and investment firms haven't really woken up to it as yet...other than perhaps Hargreaves. I've got a bit of Ethereum, more as a toy to see how it all works.

    I’d get down to the Doctors is I were you. You don’t want your knob to fall off!
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  • Chef_addickChef_addick
    kings hill addick said:

    Does anyone on here have a bitcoin account/wallet? I need to set one up but it is a minefield and the one I was recommended doesn’t accept payments in Sterling so there are going to be excessive fees to load it up.

    Has anyone done the research and can recommend a provider?

    I used Blockchain this morning, I found them easier as there was no need to send them copies of ID etc, just link to your bank account and transfer the amount in, scan the QR code from the payment screen on mania and it was done, whole thing took 10 minutes.
  • cabblescabbles
    be great if the powers that decide what constitutes a currency would let you trade in likes and lol’s accumulated on here

  • cafcnick1992cafcnick1992
    I bought 0.1 bitcoin for £15 quid in 2012 and it's worth £500 now which is nice.

    At one point I had 0.6 but traded it away.
  • ashleyashley
    If ever there was an Emperor's New Clothes type concept then this it . Regulation of the trade in Bitcoin is hopeless . Investor protection is pretty much non existent .The people involved in this are financial services knobs who work in an industry that failed to foresee and properly react to the meltdown in 2008 whilst they continued to ride the gravy train of Guaranteed Bonuses and yearly movement from one US / Far Eastern / European Casino Bank to the next according to who paid the most .Add " Bitcoin " to the ever increasing pile of " Aren't we oh so Clever on the dealing room floor in Canary Wharf in our too tight around the arse Boss designer suits whilst our fingers tap furiously on our Apple Pro laptops " consisting of " Life Sciences " , " Fintech " and other trendy sounding bollocks . Avoid like the plague and wait for the lawyers to clean up on this disaster waiting to happen which of course is no bad thing at all .
  • kentaddickkentaddick
    ashley said:

    If ever there was an Emperor's New Clothes type concept then this it . Regulation of the trade in Bitcoin is hopeless . Investor protection is pretty much non existent .The people involved in this are financial services knobs who work in an industry that failed to foresee and properly react to the meltdown in 2008 whilst they continued to ride the gravy train of Guaranteed Bonuses and yearly movement from one US / Far Eastern / European Casino Bank to the next according to who paid the most .Add " Bitcoin " to the ever increasing pile of " Aren't we oh so Clever on the dealing room floor in Canary Wharf in our too tight around the arse Boss designer suits whilst our fingers tap furiously on our Apple Pro laptops " consisting of " Life Sciences " , " Fintech " and other trendy sounding bollocks . Avoid like the plague and wait for the lawyers to clean up on this disaster waiting to happen which of course is no bad thing at all .

    Financial services are probably the least keen on bitcoin. I think it will always have a market on the dark web and by criminals, which is what started the rise in price years ago. By its very nature it cannot be regulated.

    I wouldn’t put your life savings into it but might be interesting to see where it goes.
  • stonemusestonemuse
    https://www.linkedin.com/feed/update/urn:li:activity:6330027012463398912
  • MrOneLungMrOneLung
    ashley said:

    If ever there was an Emperor's New Clothes type concept then this it . Regulation of the trade in Bitcoin is hopeless . Investor protection is pretty much non existent .The people involved in this are financial services knobs who work in an industry that failed to foresee and properly react to the meltdown in 2008 whilst they continued to ride the gravy train of Guaranteed Bonuses and yearly movement from one US / Far Eastern / European Casino Bank to the next according to who paid the most .Add " Bitcoin " to the ever increasing pile of " Aren't we oh so Clever on the dealing room floor in Canary Wharf in our too tight around the arse Boss designer suits whilst our fingers tap furiously on our Apple Pro laptops " consisting of " Life Sciences " , " Fintech " and other trendy sounding bollocks . Avoid like the plague and wait for the lawyers to clean up on this disaster waiting to happen which of course is no bad thing at all .

    That's why all the banks and financial institutions are pushing bitcoin.

    Oh wait, no they are not.

    Nice rant though.
  • Stu_of_KunmingStu_of_Kunming
    cabbles said:

    be great if the powers that decide what constitutes a currency would let you trade in likes and lol’s accumulated on here

    If you get someone to pay you for the
    ashley said:

    If ever there was an Emperor's New Clothes type concept then this it . Regulation of the trade in Bitcoin is hopeless . Investor protection is pretty much non existent .The people involved in this are financial services knobs who work in an industry that failed to foresee and properly react to the meltdown in 2008 whilst they continued to ride the gravy train of Guaranteed Bonuses and yearly movement from one US / Far Eastern / European Casino Bank to the next according to who paid the most .Add " Bitcoin " to the ever increasing pile of " Aren't we oh so Clever on the dealing room floor in Canary Wharf in our too tight around the arse Boss designer suits whilst our fingers tap furiously on our Apple Pro laptops " consisting of " Life Sciences " , " Fintech " and other trendy sounding bollocks . Avoid like the plague and wait for the lawyers to clean up on this disaster waiting to happen which of course is no bad thing at all .

    You don't know much about bitcoins then?
  • cafcfancafcfan
    cabbles said:

    be great if the powers that decide what constitutes a currency would let you trade in likes and lol’s accumulated on here

    You're 4 years too late. The FCA put out its e-money bumf back then. https://fca.org.uk/publication/archive/emoney-approach.pdf

    If anyone's trading e-money and their intermediary/issuer is not authorised/regulated by the FCA or similar, just ask yourself why. And don't whinge when some Russian/North Korean* half inches all your virtual/imaginary* money.

    All thanks to the Second Electronic Money Directive. (But what's the EU ever done for us.)

    *Delete as appropriate.
  • kings hill addickkings hill addick
    Thing is if you are looking to buy some rocket launchers do you really want to do so through an FCA regulated business?

    The same is true of paying for illegal football streams. The FCA aren’t going to regulate firms doing that are they?
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  • SantaClausSantaClaus
    kings hill addick said:

    Thing is if you are looking to buy some rocket launchers do you really want to do so through an FCA regulated business?

    The same is true of paying for illegal football streams. The FCA aren’t going to regulate firms doing that are they?

    I get that Bitcoin is great for purchasing shady goods and will become even more important once cash is abolished but it doesn't offer anything that's in itself unique. Apart from a strong brand why is it so valuable compared to its 1000's of alt coin competitors?
  • kings hill addickkings hill addick
    The same reason that Google is the biggest search engine - it ‘won the war’ to be recognised as the market leader. Just like Facebook is the market leading social media provider. Once something is adopted by enough people it becomes ‘the one’. It also applies to tech like VHS/Betamax VHS won despite being a vastly inferior product - it won because it was cheaper and therefore more affordable.

    Some of the richest people in the world made their fortune by being lucky and having their ‘product’ adopted by the masses, including Bill gates who was the richest man on the planet for a long time just because his MS-Dos was adopted as the standard os in computers.
  • Stu_of_KunmingStu_of_Kunming
    SantaClaus said:

    kings hill addick said:

    Thing is if you are looking to buy some rocket launchers do you really want to do so through an FCA regulated business?

    The same is true of paying for illegal football streams. The FCA aren’t going to regulate firms doing that are they?

    I get that Bitcoin is great for purchasing shady goods and will become even more important once cash is abolished but it doesn't offer anything that's in itself unique. Apart from a strong brand why is it so valuable compared to its 1000's of alt coin competitors?
    For similar reasons a pairs of Nike will, cost more than high tech, brand value.
  • cabblescabbles
    cafcfan said:

    cabbles said:

    be great if the powers that decide what constitutes a currency would let you trade in likes and lol’s accumulated on here

    You're 4 years too late. The FCA put out its e-money bumf back then. https://fca.org.uk/publication/archive/emoney-approach.pdf

    If anyone's trading e-money and their intermediary/issuer is not authorised/regulated by the FCA or similar, just ask yourself why. And don't whinge when some Russian/North Korean* half inches all your virtual/imaginary* money.

    All thanks to the Second Electronic Money Directive. (But what's the EU ever done for us.)

    *Delete as appropriate.
    If the Koreans or Russians take all my LOLs and Likes I won’t be happy
  • WSSWSS
    Hit $7,600 over the past 24 hours.
  • kentaddickkentaddick
    Reason behind the recent spike is there’s a “fork” happening in a few days, no one is quite sure whether a new bitcoin type crypto currency will be born or if the “new” bitcoin will become bitcoin.. that’s at least from what I can gather. So essentially you could be getting double your crypto currency or bitcoin will just be upgraded.
  • kings hill addickkings hill addick
    I put £26 in a week ago and now it’s worth £34. Wish I’d put £26k in now!
  • harveys_gardenerharveys_gardener
    Currency of non-Muslim criminals unable to access Hawala.
  • kentaddickkentaddick
    edited November 2017
    put in £100 a few weeks back, now worth £142. It may well crash at some point, but i think it may well be the future... until quantum computers start coming out, which in and of itself will be an utter game changer in terms of cyber cryptology.
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