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Cryptos

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  • cafcfan
    cafcfan Posts: 11,198
    cabbles said:

    As I said on the other thread, when are we going to start trading in LOLs and Likes, we’d all be quids in

    @Henry Irving has been mining for Promotes for years.
  • Robbo on the wing
    Robbo on the wing Posts: 4,135
    I just dont seem able to open a coin base account.
    Uploaded drivers licence three times now.
    Front and back as per automated email
  • kentaddick
    kentaddick Posts: 18,729
    Mendonca In Asdas said:

    Bank of England looking into bringing out their own Crypto currency, I wonder if this will screw up some of the other ones?

    Lol nope, if anything it raises the crypto market cap if more organisations use cryptos etc. Any info on this btw?
  • Mendonca In Asdas
    Mendonca In Asdas Posts: 22,650
    kentaddick said:

    Mendonca In Asdas said:

    Bank of England looking into bringing out their own Crypto currency, I wonder if this will screw up some of the other ones?

    Lol nope, if anything it raises the crypto market cap if more organisations use cryptos etc. Any info on this btw?
    http://www.telegraph.co.uk/news/2017/12/30/bank-england-plots-bitcoin-style-digital-currency/
  • PragueAddick
    PragueAddick Posts: 22,143
    Robbo on the wing said:

    I just dont seem able to open a coin base account.
    Uploaded drivers licence three times now.
    Front and back as per automated email

    My experience too. I will give it one more go with my driving licence, but they can eff off if they think i am going to upload my passport details too, without even being able to "talk to" them.

    @kentaddick is there an alternative route to getting started with ethereum and then on to some of the others - I am not interested in bitcoin.

  • kentaddick
    kentaddick Posts: 18,729
    PragueAddick said:

    Robbo on the wing said:

    I just dont seem able to open a coin base account.
    Uploaded drivers licence three times now.
    Front and back as per automated email

    My experience too. I will give it one more go with my driving licence, but they can eff off if they think i am going to upload my passport details too, without even being able to "talk to" them.

    @kentaddick is there an alternative route to getting started with ethereum and then on to some of the others - I am not interested in bitcoin.

    Sure, buy Ethereum. Unfortunately bitcoin is pretty much the gold standard for other cryptos, so many won’t accept anything but bitcoin.
  • SE10Addick
    SE10Addick Posts: 2,963
    For those having issues with Coinbase try using the app, it came through pretty quickly for a mate of mine.

    For those going to open a coinbase account, try this link https://coinbase.com/join/5a2e9dd472759000fd01f356 and we'll both get £7 free in bitcoin.

    If you are still having problems getting verified, try Bitstamp. Only works in euros and USD though but it's ok. They too are experiencing delays in verification though.

  • The_President
    The_President Posts: 14,280
    kentaddick said:

    PragueAddick said:

    Robbo on the wing said:

    I just dont seem able to open a coin base account.
    Uploaded drivers licence three times now.
    Front and back as per automated email

    My experience too. I will give it one more go with my driving licence, but they can eff off if they think i am going to upload my passport details too, without even being able to "talk to" them.

    @kentaddick is there an alternative route to getting started with ethereum and then on to some of the others - I am not interested in bitcoin.

    Sure, buy Ethereum. Unfortunately bitcoin is pretty much the gold standard for other cryptos, so many won’t accept anything but bitcoin.
    I dont understand, surely you can pay EUR/GBP - so called FIAT ccy's to buy whatever coin you want?
  • kentaddick
    kentaddick Posts: 18,729
    The_President said:

    kentaddick said:

    PragueAddick said:

    Robbo on the wing said:

    I just dont seem able to open a coin base account.
    Uploaded drivers licence three times now.
    Front and back as per automated email

    My experience too. I will give it one more go with my driving licence, but they can eff off if they think i am going to upload my passport details too, without even being able to "talk to" them.

    @kentaddick is there an alternative route to getting started with ethereum and then on to some of the others - I am not interested in bitcoin.

    Sure, buy Ethereum. Unfortunately bitcoin is pretty much the gold standard for other cryptos, so many won’t accept anything but bitcoin.
    I dont understand, surely you can pay EUR/GBP - so called FIAT ccy's to buy whatever coin you want?
    There’s not many exchanges where you can buy bitcoin etc with fiat anyway. Coinbase are aiming to add more coins throughout the year
  • Chaz Hill
    Chaz Hill Posts: 5,216
    https://www.theguardian.com/technology/2018/jan/07/bitcoin-crypto-currencies-mcafee

    Just thought some of you budding Capitalists might have missed this as it is in the Guardian. Interesting read I thought.
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  • The_President
    The_President Posts: 14,280
    kentaddick said:

    The_President said:

    kentaddick said:

    PragueAddick said:

    Robbo on the wing said:

    I just dont seem able to open a coin base account.
    Uploaded drivers licence three times now.
    Front and back as per automated email

    My experience too. I will give it one more go with my driving licence, but they can eff off if they think i am going to upload my passport details too, without even being able to "talk to" them.

    @kentaddick is there an alternative route to getting started with ethereum and then on to some of the others - I am not interested in bitcoin.

    Sure, buy Ethereum. Unfortunately bitcoin is pretty much the gold standard for other cryptos, so many won’t accept anything but bitcoin.
    I dont understand, surely you can pay EUR/GBP - so called FIAT ccy's to buy whatever coin you want?
    There’s not many exchanges where you can buy bitcoin etc with fiat anyway. Coinbase are aiming to add more coins throughout the year
    So, what you're saying is, you come in (to say Coinbase) and buy Bitcoin with Fiat, and then you can buy lets say, Litecoin, with Bitcoin ?
  • SE10Addick
    SE10Addick Posts: 2,963
    The_President said:

    kentaddick said:

    The_President said:

    kentaddick said:

    PragueAddick said:

    Robbo on the wing said:

    I just dont seem able to open a coin base account.
    Uploaded drivers licence three times now.
    Front and back as per automated email

    My experience too. I will give it one more go with my driving licence, but they can eff off if they think i am going to upload my passport details too, without even being able to "talk to" them.

    @kentaddick is there an alternative route to getting started with ethereum and then on to some of the others - I am not interested in bitcoin.

    Sure, buy Ethereum. Unfortunately bitcoin is pretty much the gold standard for other cryptos, so many won’t accept anything but bitcoin.
    I dont understand, surely you can pay EUR/GBP - so called FIAT ccy's to buy whatever coin you want?
    There’s not many exchanges where you can buy bitcoin etc with fiat anyway. Coinbase are aiming to add more coins throughout the year
    So, what you're saying is, you come in (to say Coinbase) and buy Bitcoin with Fiat, and then you can buy lets say, Litecoin, with Bitcoin ?
    But you can buy lite coins on Coinbase, but if you mean the other smaller less know coins, that’s essentially what I do.
  • The_President
    The_President Posts: 14,280
    But if you want to buy, say, Vechain on Coinbase, then you have to trade Fiat for Bitcoin and then Bitcoin for Vechain, both presumably taking their margin along the way?
  • Leeds_Addick
    Leeds_Addick Posts: 4,698
    edited January 2018
    The_President said:

    But if you want to buy, say, Vechain on Coinbase, then you have to trade Fiat for Bitcoin and then Bitcoin for Vechain, both presumably taking their margin along the way?

    No, buy ETH on Coinbase (with fiat), transfer eth to GDAX and then to Binance, trade eth for Vechain on Binance.
  • The_President
    The_President Posts: 14,280
    So, you can only buy ETH with Coinbase with Fiat, not BTC?
    So, to buy BTC, you have to buy ETH via Coinbase (with Fiat), then send ETH to BDAX, then on to Binance, then trade ETH for BTC
    Forgive my ignorance, but this sounds a *really* complex way of buying 'stuff'.
  • The_President
    The_President Posts: 14,280
    No wonder 9/10 of the population dont do this 'stuff' !
  • cafcpolo
    cafcpolo Posts: 3,811
    The_President said:

    So, you can only buy ETH with Coinbase with Fiat, not BTC?
    So, to buy BTC, you have to buy ETH via Coinbase (with Fiat), then send ETH to BDAX, then on to Binance, then trade ETH for BTC
    Forgive my ignorance, but this sounds a *really* complex way of buying 'stuff'.

    No, on Coinbase you can buy bitcoin, Bitcoin Cash, lite coin and ethereum with money. If you only want one of these you don’t need binance.

    If you want ripple, stellar, etc. Then buy one of the four above on Coinbase, transfer it to Binance and then buy.
  • The_President
    The_President Posts: 14,280
    cafcpolo said:

    The_President said:

    So, you can only buy ETH with Coinbase with Fiat, not BTC?
    So, to buy BTC, you have to buy ETH via Coinbase (with Fiat), then send ETH to BDAX, then on to Binance, then trade ETH for BTC
    Forgive my ignorance, but this sounds a *really* complex way of buying 'stuff'.

    No, on Coinbase you can buy bitcoin, Bitcoin Cash, lite coin and ethereum with money. If you only want one of these you don’t need binance.

    If you want ripple, stellar, etc. Then buy one of the four above on Coinbase, transfer it to Binance and then buy.
    thanks Polo, thats clear.
  • The_President
    The_President Posts: 14,280
    Whats the difference between Bitcoin and Bitcoin Cash?
  • cafcpolo
    cafcpolo Posts: 3,811
    The_President said:

    Whats the difference between Bitcoin and Bitcoin Cash?

    Bitcoin Cash is “new” version. It’s what they call a hard fork of bitcoin. It’s been updated so it can process transactions quicker, however due to the way they do it, it has made it POTENTIALLY less secure.

    Biggest issue with it is the adoption. If it’s taken on like bitcoin then boom. If not, it’ll start to fall.
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  • The_President
    The_President Posts: 14,280
    Thanks Polo, very clear explanation.
  • Leeds_Addick
    Leeds_Addick Posts: 4,698
    The_President said:

    So, you can only buy ETH with Coinbase with Fiat, not BTC?
    So, to buy BTC, you have to buy ETH via Coinbase (with Fiat), then send ETH to BDAX, then on to Binance, then trade ETH for BTC
    Forgive my ignorance, but this sounds a *really* complex way of buying 'stuff'.

    Sorry yeah you can buy the 4 mentioned above but Ethereum is the one to buy if the only reason you're buying it is to buy an altcoin like Vechain as it transacts quicker than BTC.
  • kentaddick
    kentaddick Posts: 18,729
    cafcpolo said:

    The_President said:

    So, you can only buy ETH with Coinbase with Fiat, not BTC?
    So, to buy BTC, you have to buy ETH via Coinbase (with Fiat), then send ETH to BDAX, then on to Binance, then trade ETH for BTC
    Forgive my ignorance, but this sounds a *really* complex way of buying 'stuff'.

    No, on Coinbase you can buy bitcoin, Bitcoin Cash, lite coin and ethereum with money. If you only want one of these you don’t need binance.

    If you want ripple, stellar, etc. Then buy one of the four above on Coinbase, transfer it to Binance and then buy.
    Bingo, sorry I wasn’t clear!
  • shine166
    shine166 Posts: 13,914
    Or just save a massive faff by signing upto IQ Option where you can just purchase without moving money around
  • Siv_in_Norfolk
    Siv_in_Norfolk Posts: 4,057
    shine166 said:

    Or just save a massive faff by signing upto IQ Option where you can just purchase without moving money around

    Care to expand?
  • benjest1989
    benjest1989 Posts: 388
    Er_Be_Ab_Pl_Wo_Wo_Ch said:

    benjest1989 said:

    Still cant get my money out of coinbase. Going to put the money into Bitcoin and transfer into TRON asap.

    Zuckerberg posted this earlier in the week:

    With the rise of a small number of big tech companies — and governments using technology to watch their citizens — many people now believe technology only centralizes power rather than decentralizes it.

    There are important counter-trends to this --like encryption and cryptocurrency -- that take power from centralized systems and put it back into people's hands. But they come with the risk of being harder to control. I'm interested to go deeper and study the positive and negative aspects of these technologies, and how best to use them in our services.

    Rumours he may team up with some sort of crypto for Facebook

    Coinbase - have you verified your bank account with them? (you'll need to bank transfer them €1)

    Crypto for social media... I haven't read this yet so this is definitely not a recommendation but might be an option worth reading up on: https://www.sether.io/
    I sent the money to verify my bank account but it still didn't verify, although the money credited my account. Online a lot of people having the same issue, and it is impossible to get a response from Coinbase. Need to find an alternative wallet that will let me withdraw, and transfer my coins into it.
  • cafcpolo
    cafcpolo Posts: 3,811
    Guys, piece of advise if your plan is to just buy and hold and you're not holding them in CoinBase. Get an offline wallet, especially if you have invested anything £500-£1k upwards. Keeping them in CoinBase is fine as they're insured. However, say for example Binance are hacked. You might be saying goodbye to your investment with absolutely no way of getting it back.

    Most simple way is to purchase something like the Ledger Nano S. Once set up you can transfer your Ripple (and many others) to the stick and just leave it there until you want to sell. If you plan on constantly trading through Binance then it's probably not worth bothering as it makes it more hassle moving it all around.
  • kentaddick
    kentaddick Posts: 18,729
    cafcpolo said:

    Guys, piece of advise if your plan is to just buy and hold and you're not holding them in CoinBase. Get an offline wallet, especially if you have invested anything £500-£1k upwards. Keeping them in CoinBase is fine as they're insured. However, say for example Binance are hacked. You might be saying goodbye to your investment with absolutely no way of getting it back.

    Most simple way is to purchase something like the Ledger Nano S. Once set up you can transfer your Ripple (and many others) to the stick and just leave it there until you want to sell. If you plan on constantly trading through Binance then it's probably not worth bothering as it makes it more hassle moving it all around.

    It costs 5 ven to transfer. Waiting for that to come down as that currently costs about $25, hasn’t changed since being at $1 a coin
  • Dippenhall
    Dippenhall Posts: 3,919
    Mendonca In Asdas said:

    kentaddick said:

    Mendonca In Asdas said:

    Bank of England looking into bringing out their own Crypto currency, I wonder if this will screw up some of the other ones?

    Lol nope, if anything it raises the crypto market cap if more organisations use cryptos etc. Any info on this btw?
    http://www.telegraph.co.uk/news/2017/12/30/bank-england-plots-bitcoin-style-digital-currency/
    Why has there not been a rush to "buy" sterling?

    What Bitcoin and the crypto currencies will do is to prove how to finesse the technology for central banks to de-materialised currency. It will remove the role of clearing banks which are the entities that by controlling access to credit actually have control of how much money is in circulation and cause the boom and bust cycles. Central banks will be able to better control money supply and continue to use interest rates to control demand and supply for money.

    Without crypto currency the technology would never be developed. That is the value of crypto currency, not the currency but the test beds being operated to prove which is the best system for eventual adoption of digitalised national currency.
  • kentaddick
    kentaddick Posts: 18,729
    Dippenhall said:

    Mendonca In Asdas said:

    kentaddick said:

    Mendonca In Asdas said:

    Bank of England looking into bringing out their own Crypto currency, I wonder if this will screw up some of the other ones?

    Lol nope, if anything it raises the crypto market cap if more organisations use cryptos etc. Any info on this btw?
    http://www.telegraph.co.uk/news/2017/12/30/bank-england-plots-bitcoin-style-digital-currency/
    Why has there not been a rush to "buy" sterling?

    What Bitcoin and the crypto currencies will do is to prove how to finesse the technology for central banks to de-materialised currency. It will remove the role of clearing banks which are the entities that by controlling access to credit actually have control of how much money is in circulation and cause the boom and bust cycles. Central banks will be able to better control money supply and continue to use interest rates to control demand and supply for money.

    Without crypto currency the technology would never be developed. That is the value of crypto currency, not the currency but the test beds being operated to prove which is the best system for eventual adoption of digitalised national currency.
    Read up on ripple.

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