Off Topic Bitcoin.

Secure investment (NOT) and this is only the beginning.

http://money.cnn.com/2017/12/07/technology/nicehash-bitcoin-theft-hacking/index.html

This hack is from a mining company .

My comp does not like that link.  

75 mill worth of Bitcoin would have left quite a few empty wallets

I guess pinching it is one way to kill its value.

I see Bitcoin as being a Bit like an imaginary friend. It isn't real but if I can make everybody believe it is real then I can put value to it and start selling bits of it in exchange for real money. Like selling bits of nothing for something that will benefit me.

They are not sure if the Bitcoin belonged to the mining company or its clients , as yet .

Looks like your Ethereum is on the move now Mike.
Up almost 50% in the last couple of weeks. Hmmmm...

Worth a dabble maybe.

There are currently approx. 17,000,000 bitcoins mined / bought

The cap is 21,000,000

If the protocol is changed & Bitcoin mining continues beyond the 21,000,000 then the value of Bitcoin will be
ZERO .......

You should read up a little more . Due to the maths, which is beyond me, there can NEVER be more than 21 million Bitcoin. This is a reason that they are valuable . Several million are deemed to be "lost " for various reasons .

Yes, it is nice to see Ethereum going up . I paid AUD$ 451 and 394 in June and Oct .

A film crew did a story on Bitcoin a few years ago and as part of the story they bought a few.
Now they can't find the numbers or phrases to cash them in.
Rekon a lot of that might have happened.
Reminded me of a big lotto win in Kalgoorlie a couple of years back. The winner didn't come forward and everyone was wondering who it was. One guy thought it was him but he had thrown the ticket out. He spent days in the Kal tip in 40 deg Temps trying to find it. Then someone else found it in their glovebox.
Life, you can't script it........

Has anyone made a realised profit from Bitcoin in this thread? What profit did you make in terms of both dollars and percentage, and over what time frame. I'm referring to realised profits only.

Not interested in cashing in at the moment . But well in front from June 2017 . I was short of money before that date , otherwise I would have got in earlier . If I need some funds , I will sell a little bit .

onthehunt wrote:Has anyone made a realised profit from Bitcoin in this thread? What profit did you make in terms of both dollars and percentage, and over what time frame. I'm referring to realised profits only.

I have cashed out double what I put in

rc62burke wrote:

onthehunt wrote:Has anyone made a realised profit from Bitcoin in this thread? What profit did you make in terms of both dollars and percentage, and over what time frame. I'm referring to realised profits only.

I have cashed out double what I put in

I thought you would have cashed out with much more than x2

Either way you done well in the short fast ride you punted on, congrats

Are you dabbling in ETH now that BTC has plateaued ?

coreytroy wrote:

rc62burke wrote:

onthehunt wrote:Has anyone made a realised profit from Bitcoin in this thread? What profit did you make in terms of both dollars and percentage, and over what time frame. I'm referring to realised profits only.

I have cashed out double what I put in

I thought you would have cashed out with much more than x2

Either way you done well in the short fast ride you punted on, congrats

Are you dabbling in ETH now that BTC has plateaued ?

No reason to cash out more ATM as I'm playing with profits & it's still expanding my BTC holding I've just got set up to start trading alt coins, yes looking for a price dip on ETH to get in .

Don't wait too long ! It can be a mistake , I know ....

rc62burke wrote:

No reason to cash out more ATM as I'm playing with profits  & it's still expanding my BTC holding  I've just got set up to start trading alt coins, yes looking for a price dip on ETH to get in .

Ahh, ok. At least you've proven funds can be returned to a bank account from an online wallet.
Sounds like you have your financial head screwed on right to minimise the risk of losing 100% of your input.

I put a couple of bucks on ETH (nothing worth losing sleep over if it vanished into infinity from where it came), but feel less risk on the ASX at the moment. Though the ASX can be volatile also.

i asked a mate (who is very switched on re money and real estate and owns a few very good businesses) what his thoughts were on bitcoin and all the other bitcoin type stuff going on at the moment and his words were stay right away from it . when ever anyone mentions it think barter card reborn , and plenty of people lost a lot of money on that one .

Forgot about that one.
Bloke I knew in Brisbane lost house and business through barter card.
Little while ago now but they were devastated how quickly it all crumbled.
Luckily no kids, they are now scratching sapphires out of the ground around Rubyvale.
Mike

yep . and i know some one that lost just over 250 thousand dollars on bartercard .

Looks as if BTC has stalled.
Perhaps a plummeting to zero is to follow.

I'd be out now B4 its too late

Unlikely , it is just catching it's breath before going for another run !

coreytroy wrote:Looks as if BTC has stalled.
Perhaps a plummeting to zero is to follow.

I'd be out now B4 its too late

And that there my friends is exactly why the slide has continued LOL grow some kahunas & enjoy the ride
This has been a correction as much as it has been manufactured by different entities Whales caused a dump by selling large quantities & a lot of folks bought the bubble has burst hype LOL My money is on the fact that the whales bought back in & increased their holdings at a discount LOL

Humpback or sperm.... :-)

This was in the Age today (Sat 30th). Bitcoin tensions rise as investors claim banks freezing their accounts

http://www.theage.com.au/business/bitcoin-tensions-rise-as-investors-claim-banks-freezing-their-accounts-20171229-p4yy3z.html

wombat

I might be a bit thick but I fail to understand how something that only exists as a series of noughts and ones on the ether can be worth anything, especially as it has no basis or backing from anything of value. It sounds like a ponzie scheme to me. But good luck, I think you'll need it.

Cheers, Jim

rc62burke wrote:
Whales caused a dump by selling large quantities & a lot of folks bought the bubble has burst hype LOL My money is on the fact that the whales bought back in & increased their holdings at a discount LOL

I think the 'whales' have shifted their dollars out of BTC to other crypto such as Ripple (XRP).
Check out the ripple volumes being consumed recently in comparison to BTC and ETH.

coreytroy wrote:

rc62burke wrote:
Whales caused a dump by selling large quantities & a lot of folks bought the bubble has burst hype LOL My money is on the fact that the whales bought back in & increased their holdings at a discount LOL

I think the 'whales' have shifted their dollars out of BTC to other crypto such as Ripple (XRP).
Check out the ripple volumes being consumed recently in comparison to BTC and ETH.

Without a doubt there has been a shift of volume & hence price to Ripple !!!
But there's also talk of a lot of ripple prior to this being held by the banks & now people have been using BTC & ETH to purchase Ripple, which has played to the hand of the banks perfectly as they now control a lot of the markets BTC & ETH

Only 38 % of Ripple is in use , the rest is held by Ripple . You cannot mine Ripple . That is what I understand .

granite2 wrote:I might be a bit thick but I fail to understand how something that only exists as a series of noughts and ones on the ether can be worth anything, especially as it has no basis or backing from anything of value. It sounds like a ponzie scheme to me. But good luck, I think you'll need it.

Cheers, Jim

Yes Granite you are right .
If the central banks and govts hadn't abused their power with the existing systems this probably wouldn't have happened.
There's probably not enough trees on the planet to actually print the amount of fiat currency thats been created on keywords.

Its the people who have had enough of the current system that are driving this.
Like uber , AirBnB and all the others that the Internet is giving power to the people.The government and central banks are popinig themselves trying to catch up.

Maybe the revolting people are going to take over.

Alan WA wrote:
Maybe the revolting people are going to take over.

In your dreams Alan, the common people will always be the losers, when this lot crashes the organisers will have already stashed squillions of the "peoples" money.
♫And the needle returns to the start of the song and we all go along like before.♫

Oh well, least dreams are free.