Cryptocurrency mega-thread

Remove this Banner Ad

Bpay is so s**t. Like three days to process a payment?

I need to deposit NOW to buy NOW

That's why bitcoin will ultimately be a success - it's faster and easier than BPay, Moneygram etc.
 
Duritz said:
Surprise, surprise... Binance delayed at least another 8 hours beyond their initial time. Yeah, routine maintenance, nothing to see here...

Hacked, 100%.
Click to expand...
They can take my Walton but they will never take my VEEECHAAAAINN
 

Log in to remove this ad.

YippeeYiYeo said:
Had a dream about trading crypto last night. I need a life :$
Click to expand...

I know what you mean my Wife is so sick of me telling her about our crypto ..Probably be a different story when the investments go on a bull run though ..


On iPhone using BigFooty.com mobile app
 
silly fellow said:
Lack of marketing IMO, with a new marketing company now engaged things may change
Click to expand...
Bit of a sleeping giant I reckon. One of the very few coins that can currently be found accepted by merchants at the very few stores that accept cryptos. May not end up becoming the biggest coin, but I reckon it's got massive potential. Once it really gets going people will be kicking themselves for not getting a bit when it was this cheap.
 
Any COB holders here or people who use cobinhood exchange? Of all the projects I'm following, cobinhood appear to be making the fastest progress and are the most active on social media. They constantly bombard telegram with updates and future events/plans. New coins are being added to their exchange weekly. It's a little overwhelming TBH, especially when you're accustomed to projects that only send out a monthly email and that's all you hear from them. It seems like cobinhood achieve in one week what other projects would do in a month.
 
Scotland said:
BPAY isn't a currency.
Click to expand...

No but it takes 3 days to process a payment in AUD within Australia, to another Australian company.

With Bitcoin I can send money from Australia to Europe and my computer and his computer talk, and the payment is processed in seconds.
 
bresker said:
No but it takes 3 days to process a payment in AUD within Australia, to another Australian company.

With Bitcoin I can send money from Australia to Europe and my computer and his computer talk, and the payment is processed in seconds.
Click to expand...

I don't disagree with any of this, but the fact remains that BPAY is not a currency while BTC, ETH etc are or potentially could be.

Which would you rather:

- convert AUD into BTC to buy things from overseas knowing that the money you have converted into BTC could be worth 50% or 150% of what you converted within a couple of days, or;
- purchase something in EUR, GBP, NOK, CHF etc. from your AUD bank account with a faster processing time?

Volatile cryptocurrencies will never be universally accepted. The tech is interesting but it isn't proprietary. The AUD:EUR exchange rate has hovered somewhere in the 0.63-0.73 range over the last year, so +/- about 15%. BTC has gone from ~USD1000 to USD20,000 to USD8,000. IMO the future is in a compromise between the best tech available in terms of transfer times, fees etc. and the security and stability of funds.
 

(Log in to remove this ad.)

If you read back a few pages you’ll see that I discuss volatility. While people are using BTC as an investment tool rather than a currency, volatility is a frustrating issue. When bitcoin or some other cryptocurrency is used for its main purpose - as a currency - volatility won’t be such a problem. The share market is ridiculously changeabl at the moment, but people still use it. Traditional currencies can be volatile too - look at what happened to the mark in Weimar Republic Germany ; Zimbabwe recently suffered from hyperinflation. Bitcoins need to be adopted as currency not investment. They aren’t tethered to anything such as government bonds or a gold standard; they’re just a secure, private and easy way of moving vast sums of money across continents. That’s why governments hate them.
 
Another exchange got hacked and is insolvent, this time it's BitGrail. Nano (XRB) was stolen, hence the price tank.

Do not keep your money on an exchange, I cannot stress that enough.
 
What is everyone using as a wallet? Any good reccomendations? I'm thinking of putting what I have left on binance, which isnt much, into MEW while I wait for a ledger wallet.
 
ash_1050 said:
Another exchange got hacked and is insolvent, this time it's BitGrail. Nano (XRB) was stolen, hence the price tank.

Do not keep your money on an exchange, I cannot stress that enough.
Click to expand...
i have about 30% of my investment on a nano ledger S, but its at capacity so until my new one arrives i have the rest of my portfolio spread across 6 exchanges.
 
I have most of my holdings on a hardware wallet (some of which is natively supported, some are ERC20 tokens that are stored via MEW). I keep some other stuff on Exodus because that's the easiest place to store it. I have monero spread across a few different exchanges (if one gets hacked, I wont lose all my Monero) because its yet to be supported by any hardware wallet.
 
bresker said:
If you read back a few pages you’ll see that I discuss volatility. While people are using BTC as an investment tool rather than a currency, volatility is a frustrating issue. When bitcoin or some other cryptocurrency is used for its main purpose - as a currency - volatility won’t be such a problem. The share market is ridiculously changeabl at the moment, but people still use it. Traditional currencies can be volatile too - look at what happened to the mark in Weimar Republic Germany ; Zimbabwe recently suffered from hyperinflation. Bitcoins need to be adopted as currency not investment. They aren’t tethered to anything such as government bonds or a gold standard; they’re just a secure, private and easy way of moving vast sums of money across continents. That’s why governments hate them.
Click to expand...
BTC will always be volatile.

The problem with fixed money supply for a limited period is that you are solely dependent on money demand as your price. You don't have a function like interest rates or bond rates to stabilise the currency or increase the money supply to counteract massive runs.

and because there is a fixed rate of supply for a limited period, any increase in demand will increase the price. Unlike our currency, which is inflationary and hence it costs us to hold it, BTC will be deflationary and there is an incentive to HODL or whatever. It is a flawed position for a currency to be in. A steady rate of inflation is good as people can always trust that by the time they get to store, they will know what they can buy in 2 or 3 months. This is where not having the ability to stabilise, that fallback option, will hurt.

Thats not talking about the security of these coins and the people who "run it". I trust the RBA(or a central bank) over any government or any person behind a computer.
 
jezzajay said:
Don’t spread fud dude... it’s not what we need.
Click to expand...
Trolling on BigFooty is not FUD. There was the initial post about Binance being down. There was a reply from one guy that stated he hopes Binance will be ok as he has his ETH on there. Duritz then indirectly trolls him by stating that there was confirmation that Binance had been hacked and that ETH was the target. If you can't see through that, then I don't know what to say. I got a giggle from it. It should be a good lesson to all not to leave coins on exchanges !!
 
You must log in or register to reply here.

Remove this Banner Ad

Back
Top