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Crypto Currencies, and the next big thing

Discussion in 'Forex and Cryptocurrencies' started by cryptoman, Jun 7, 2017.

  1. LifeChoices

    LifeChoices

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    FFS I'm not accumulating Bit Coin (sic). I'm currently accumulating Ethereum.

    The Wright Brothers invented the first plane, but who would want to fly on their invention.

    You guys are obviously interested in the sector - otherwise you wouldn't be so dismissive.

    Why not dip your little left toe into it - what's the worst thing that could possibly happen? At worst you wouldn't be so naive.
     
  2. Value Collector

    Value Collector Have courage, and be kind.

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    Good luck with that, I think when you used the term "Gambling" you were spot on.


    As I said, I will wait till it becomes "Main stream", Then I won't have to "Buy it", I will have it flooding in the door from all the productive assets I accumulate between now and then.

    At the moment I own Honey packing plants, Salmon farms, Iron ore mines, Oil fields, Supermarkets, Gas pipelines, Car dealerships, Pallet pools, Banks, Theme parks, Movie studios, Hotels, Restaurants, residential realestate, Insurance businesses, rail ways, wind, solar, coal and nuclear plants, power lines, Air craft parts manufacturing, airlines, credit card companies, chemical company, highway road houses, Coca Cola, Heinz, and the list goes on and on and on.

    I would much rather own this diverse group of assets, until I begin getting dividends based in any of the crypto currency, I have no need to own any, not even for 5 mins.
     
  3. LifeChoices

    LifeChoices

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    That's great
     
  4. Wysiwyg

    Wysiwyg Everyone wants money

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    Pointless trying to convince investors and the conservative risk profile. You need speculators to buy higher for you.
     
  5. Wysiwyg

    Wysiwyg Everyone wants money

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    Is anyone enrolled with "Coinbase" and how safe is it to give personal details?
     
  6. Junior

    Junior

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    You have been regularly comparing investing in Cryptos to investing in Telstra. My point is that Cryptos are in a huge bubble, and one should be wary of investing all their cash in cryptos because you may blow the lot....especially if you are simply accumulating funds there, if there is a rush for the exits you could lose your profits and then some.

    I'm not dismissive of blockchain technology, I'm just pointing out that converting a large chunk of your cash into Ethereum is a very, very high risk strategy. There is a belief that if you think Cryptocurrencies are the future of money that you should just blindly buy as much as you can get your hands on. I think that is a naive way of looking at it, and a great way to go broke once the bubble bursts.
     
  7. Wysiwyg

    Wysiwyg Everyone wants money

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    Please also what are the tax implications for gain or loss?
     
  8. LifeChoices

    LifeChoices

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    Coinbase is a tad on the expensive side. Many traders go BTCMarkets or Independent reserve buy Eth or BTC and then move coins to bittrex and trade alts there. BTCMarkets seems to be very well supported.

    http://www.bitcoinreviews.com.au/#compare

    Be careful of some of these - hint... check their social media pages for activity.

    TAX
    Is it a hobby, under $10K?

    From what I understand the tax implications are the same as for any other capital gain.
     
  9. Wysiwyg

    Wysiwyg Everyone wants money

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    Also this sign tells "BTC/USD trading is not yet available in your region".

    Untitled.png
     
  10. LifeChoices

    LifeChoices

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  11. Wysiwyg

    Wysiwyg Everyone wants money

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    3.99% for a Debit transaction ...

    (a) Minimum fee — a flat fee that applies to conversion transactions under $200, and which is disclosed before you execute the transaction.

    (b) Percentage fee — varies by region and payment type, as follows:


    Australia
    Credit / Debit Card Buys
    3.99%
     
  12. LifeChoices

    LifeChoices

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    Yes and then each trade is about 1%. If you hold, no probs.... but it adds up if you trade.
     
  13. Wysiwyg

    Wysiwyg Everyone wants money

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    Should be neither on the front page. I do proof readings $20 per 1000 words.

    Crypto markets never sleep … and either do Aussie Crypto Traders!
     
    LifeChoices likes this.
  14. LifeChoices

    LifeChoices

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    Fixed that. Thanks very much.

    The thought of buying BTC before 25 Oct will be very interesting - right now it's 3% below an all time high of $5K. On 25 Oct a "hard fork" is taking place where the coin splits again into Bitcoin Gold. 3 weeks ago bitcoin was priced under $4K.

    One day in crypto is equivalent to one month in the ASX. Thrills and spills without the hospital bills.
     
  15. Wysiwyg

    Wysiwyg Everyone wants money

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    Pump and Dump app. for significant transactions is cool. Can the parameters be customised?
     
  16. LifeChoices

    LifeChoices

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    I wrote the app - I can customise it. Ideally it would send alerts before it happened.

    That said, it did save my arse in mid September, BTC started dumping heavily on volume - sold in the first few minutes.

    Also very good when news is released on coin. But yes, it does produce a lot of noise as often pumps/dumps happen when a support level is reached.
     
  17. Joules MM1

    Joules MM1 ....everything has an art

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  18. LifeChoices

    LifeChoices

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    ZYkcx74NgMDtbhFEBqAo59l8slY3a009K7bf_EdKuOw.jpg
     
  19. Modest

    Modest $PEPE

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  20. SuperGlue

    SuperGlue

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    Anyone manage to get in this?

    Blockchain technology fuels peer-to-peer solar energy trading in Perth start-up


    "In just three days, Power Ledger raised $34.15 million in Australia's first ever ICO (Initial Coin Offering), which involves a blockchain company selling part of its ledger to investors which gives them access to the function of the blockchain"

    http://www.abc.net.au/news/2017-10-...-peer-to-peer-energy-trading-start-up/9035616
     
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