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Cryptocurrency mega-thread

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cryptor said:
Agreed. I look at some coins and I think the problems they're trying to solve are worthwhile, but question why a lot of them need to have their own currency to do it.
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Yeah like Link, which looks amazing but why does it need a currency. They say its because they want to be independent from the Eth network it runs on so if Eth crashed they could still operate. Not sure if I buy it
 
typeclub said:
Yeah like Link, which looks amazing but why does it need a currency. They say its because they want to be independent from the Eth network it runs on so if Eth crashed they could still operate. Not sure if I buy it
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I think the answer is money. Yeah they could probably just work to solve the problem using blockchain and smart contracts technologies, but they're not going to get the wild investment money from the punters like us without a cryptocurrency to buy.
 
Mercurial89 said:
Something has definitely gone wrong in the last 2 months.

I remember looking at coins like Doge and Reddcoin when I was learning and reading these on reddit as jokes/shitcoins and basically the very essence of what people originally bagged crypto currency for - being magical fake internet money.

Fast forward to now and coins such as these are sitting at 2c when there are billions floating around. I could earn 5-7 doge from a faucet just 1 month ago. now you are getting .2.
Its unsustainable, and people are going to be really really overexposed when the correction comes.
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For some perpective:

1504208707_bespokebubble.png
 

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cryptor said:
I think the answer is money. Yeah they could probably just work to solve the problem using blockchain and smart contracts technologies, but they're not going to get the wild investment money from the punters like us without a cryptocurrency to buy.
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Pretty much this. Seeing as there are absolutely no regulations, these companies can basically just bullshit their way to investment funds.

I fully expect some regulation to come from some Western countries within the next year or two.
 
PP34 said:
Pretty much this. Seeing as there are absolutely no regulations, these companies can basically just bullshit their way to investment funds.

I fully expect some regulation to come from some Western countries within the next year or two.
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I certainly hope so, then people can skip the poo coins and invest in my coins ;)
 
PP34 said:
Pretty much this. Seeing as there are absolutely no regulations, these companies can basically just bullshit their way to investment funds.

I fully expect some regulation to come from some Western countries within the next year or two.
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I said it a few pages back but this is the part I'm really interested in. Will be fascinating to see how legislation and regulation develops around this market. Tax implications just as interesting. Trading altcoins at present could be akin to gambling.
 
GAsnr said:
I said it a few pages back but this is the part I'm really interested in. Will be fascinating to see how legislation and regulation develops around this market. Tax implications just as interesting. Trading altcoins at present could be akin to gambling.
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I think ICOs will be the first thing they crack down on.

The world’s dodgiest project can somehow raise millions and nobody bats an eyelid.
 
GAsnr said:
I said it a few pages back but this is the part I'm really interested in. Will be fascinating to see how legislation and regulation develops around this market. Tax implications just as interesting. Trading altcoins at present could be akin to gambling.
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Everything is akin to gambling. Stocks are too. Just the risk / reward ratio is much higher with cryptos, god bless em.
 
GAsnr said:
I said it a few pages back but this is the part I'm really interested in. Will be fascinating to see how legislation and regulation develops around this market. Tax implications just as interesting. Trading altcoins at present could be akin to gambling.
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I’d love for cryptotrading to be considered gambling. No tax on gambling wins in Australia.

Unfortunately I don’t think it will fly. Cryptotrading is an investment. You’re purchasing an asset and speculating on its future value. While gambling is simply wagering on the likelihood of a discreete event/outcome occurring.

I wonder if there is anyone out there offering betting markets on cryptocurrency prices. They’d have to be pretty brave. We’ve already seen how the price can be manipulated at will by someone like John McAfee.

You could purchase $1000 worth of BTC thinking it will double in 6 months. If it does double (exactly) and you sold you’d then have to pay tax on your $1000 profit.

But if there were a betting market that BTC would double in 6 months and you bet your $1000 on it and it happened then you’d get to keep all of your $1000 winnings (plus your original stake). But obviously if it fell just short of doubling you’d be left with nothing where as if you bought the BTC you’ve still got something.

So maybe we can still think of cryptotrading as gambling, but that the tax we pay is the fee that prevents us from automatically losing all of our initial stake if it doesn’t do as well as we think it might.
 
Well China has gone and thrown a spanner in the works. Damn commie's. Time to put the thinking caps on lads, going to be decisions to be made these next hours/days/weeks.
 

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WeetBixKid said:
there was huge china FUD about 6 months ago too. banning this, banning that. eth went from 400ish to 150. now look at it
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This is true...and it was a bigger reason behind that correction (ICO regulations). Only took a week or two to rebound. I think this will rebound quicker.
 

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superfraser said:
What's the fastest way to get into this guys?

I've been sitting on the side as a spectator for far too long.

More specifically, fastest way into XRP, BAT, DGB and ETH.

Thanks!
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Start with either btcmarkets or coinspot, start local then learn to safely transfer to an offshore exchange! Binance or bittrex when they accept new customers

The journey is great don’t hold back
 
superfraser said:
What's the fastest way to get into this guys?

I've been sitting on the side as a spectator for far too long.

More specifically, fastest way into XRP, BAT, DGB and ETH.

Thanks!
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The absolute fastest way would be a Localbitcoins purchase to a light weight verification exchange while you sign up to AUD exchanged...
 
Duritz said:
Mucking around looking at the numbers of the ones down the bottom of the CMC list, I have one I am going to buy, COMPLETELY AND UTTERLY a gamble on it's increase in volume and price recently:

LTH (LAthaan)

Currently $0.001266 USD

I know nothing else about it.
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Good luck with it...
 

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