Bitcoin
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It seems that bitcoin needs to mature quite a bit before I would consider using it. Coins simply disappearing because of a glitch with no way to recover is insane.
Not "exactly" a glitch. They've put out a warning that it was coming due to a planned change.
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@scottalanmiller - I see. However, that is still a deal-breaker for me.
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It seems that bitcoin needs to mature quite a bit before I would consider using it. Coins simply disappearing because of a glitch with no way to recover is insane.
If you have bitcoins and dont know about this chances are that you are safer than more advanced BTC users are. Your coins are probably already stored by a bank that is part of the NYA crowd.
Also, if you aren't moving or spending coins in the months to come there is no chance of replay/loss of your BTC. And if you are spending them there are just extra steps to ensure someone else doesn't screw you over.
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@scottalanmiller - I see. However, that is still a deal-breaker for me.
I agree, I'm not going to touch it.
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Just my two cents I thought about buying when it was at $0.10 and I didn't Then it hit $200 a coin. So I said "I'm not doing that again, so I put my money where my mouth is and bought when it was $250 a coin. I buy $10-15 a week, nothing more than I am ok with loosing. Right now it is at $2,500 a bitcoin. I have bought a few things, but for the most part it is just a play hobby. I currently own .400 of 1 bitcoin. I know it could all go up in flames, but a 10 fold investment isn't a bad side hobby to have. I suggest everyone who wants to learn about it, buy in, but never spend more money than you would be ok with loosing.
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Also every argument about how bitcoin is scary or used for illegal purposes also applies to paper cash, and I will bet most people who say it is just used for criminals also have a just in case $20 in their back pocket. For me it is nice having a little side money that can easily be used in an emergency in any country on the planet and not linked to any government or overseeing body and can not be taken from me.
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@s-hackleman How to do that ?
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Well, I guess NOT through BTC Exchange anymore...
https://www.coindesk.com/110-million-btc-e-fined-us-vows-crackdown-unregulated-exchanges/
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I normally wouldnt promote a bank, but given the state of transition we are in, and assuming you are looking to get in on the action with rising BTC values, I would go with Xapo.
Xapo was founded by a couple of the Paypal Mafia guys (Reid, who also founded Linkedin, and that other guy who founded Affirm)
Coinbase is also very reliable.
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@bigbear As per the last threads if the vault vanishes money also vanishes Right ?
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@lakshmana said in Bitcoin:
@bigbear As per the last threads if the vault vanishes money also vanishes Right ?
Yup
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@lakshmana said in Bitcoin:
@bigbear As per the last threads if the vault vanishes money also vanishes Right ?
Exactly.
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@lakshmana You need to find an exchange that accepts your currency. I have advice if you are using dollar in the United States, but if I recall you are in India, so i'm not sure. I would seek advice from a trustworthy community for bitcoin in your region. I follow /r/bitcoin on reddit, maybe those guys could help you out.
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Sure but you are more likely to screw up your own wallet during the transition than to see Xapo vanish. They are well known venture capitalist with well known backing. It would be the same level of security as storing your money in Paypal.
Mt Gox had not clout at all like Xapo.
And again, if you wanting to learn about BTC and use a couple mBTC thats one thing. If you are investing in BTC I am suggesting it will be all around easier and safer to use someone like Xapo or Coinbase. And again, the people behind Xapo are not going to dissapear.
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And I will add, I would never had suggested this before the hard fork and wouldnt suggest it 6 months or so from now.
But at this very moment things are going to be at its worst, a last for a few weeks til we get to block 479808. And still, there are going to be issues and people losing there coins. And I am watching closely to see what everyone not signed on to the NYA is going to do.
Just wanted to clarify why I am making a suggestion I otherwise would never make.
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And I will add, I would never had suggested this before the hard fork and wouldnt suggest it 6 months or so from now.
But at this very moment things are going to be at its worst, a last for a few weeks til we get to block 479808. And still, there are going to be issues and people losing there coins. And I am watching closely to see what everyone not signed on to the NYA is going to do.
Just wanted to clarify why I am making a suggestion I otherwise would never make.
Yeah, really bad time for the bitcoin network till things get ironed out.
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I would almost guess BTC is going to shoot up even more after this, because I feel like big money now owns BTC. We could see $30,000 for a BTC inside 12 months. Some people think it will peek at $40,000.
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@s-hackleman said in Bitcoin:
@lakshmana You need to find an exchange that accepts your currency. I have advice if you are using dollar in the United States, but if I recall you are in India, so i'm not sure. I would seek advice from a trustworthy community for bitcoin in your region. I follow /r/bitcoin on reddit, maybe those guys could help you out.
Thanks @s-hackleman .I will check on the same
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@bigbear Its like money laundering as said by @scottalanmiller
