Off Topic Bitcoin.

This was also in the Age today :- http://www.theage.com.au/business/markets/criminal-underworld-is-dropping-bitcoin-for-another-currency-20180102-h0co06.html
wombat

Not really sure if Ripple is a safe/viable option, but at a loss of $100 not a big deal. If it ends up being a dominant crypto if the future then all good. Can understand the banks wanting to buy in, as it poses a threat to them down the track, else they may see potential for big $$$$ themselves to be made.
Didn't want to steer anyone into a direction of financial missadventure.

From my understanding , all coins in Ripple are controlled by them . You cannot mine them . They have only released about 38 % . Banks can use them but will not be able to control them . Banks will not be able to buy them out .

Funny how the morning tv show mentioned the collapse of crypto currency, yet btc has slipped slightly, but eth has hit new heights of 2k now. Go figure..
Whats the saying re-media 'Fake News' lol

coreytroy wrote:Funny how the morning tv show mentioned the collapse of crypto currency, yet btc has slipped slightly, but eth has hit new heights of 2k now. Go figure..
Whats the saying re-media 'Fake News' lol

Looks like the news was correct. Though a few days premature.
Perhaps crypto's end Is near already.

Unlikely to collapse , it is already going back up . It is what they call in the stock market a correction . Smart people are saying Bitcoin is heading to wards USD$16,000 . We will wait and see .

https://news.bitcoin.com/japans-largest-bank-to-launch-cryptocurrency-exchange/


Check it out .

http://www.abc.net.au/news/2018-01-18/bitcoin-bubble-prices-have-lot-further-to-fall-capital-economics/9338532

Check it out.....

I would say that some of the steam taken out of the cryto market has been due to the move to the CME and other exchanges. Speculatorss will be using this market in preference to physical bitcoin as they can short it. They can make money on the downside by borrowing a bitcoin at one price and then when it falls in price then selling it. It would be interesting to know how many people have swapped over or how much investment there is going on in the derivatives market. It is a volitile market but that is a good thing...cheers

AUD up against the USD.

BTC down. Good time to jump in if spending AUD .

All quiet of this thread with BTC down 60% now?
Hope you BTC buyers did not get caught at the top end of the journey.

They say it will start to go up again  after the Chinese   New Year ,   Feb . 16 th .

Just had a look , they have all moved into the green , going up .

Minermike wrote:They say it will start to go up again  after the Chinese   New Year ,   Feb . 16 th .

I hope you are right again Mike. I bought some shares in a tech company that deal in blockchain technology.
Although not crypto currency, investors seem to directly relate this company with bitcoin and the like.
So the share price has been following the fall of bitcoin etc.
If it goes up again, i am sure the share price will follow. So i hope you are right, though i heard South Korea have banned crypto currency investing anonymously, so the crims have been restricted, thus pushing the value down.

https://www.msn.com/en-au/money/markets/over-dollar100-billion-wiped-off-global-cryptocurrency-market-in-24-hours/ar-BBIDsxA?li=AAgfYrC&ocid=mailsignout


As the ad says .......” down , down prices are down ....”


Shares to watch .... CANN group ( government regulated company for Cannibis .... )

I think it’s a bit sad that on a Gold & Prospecting forum , the only post with regular commentary has nothing to
do with Gold ....

It is crypto gold ! It is true what you say, times are changing .

ttrash wrote:
https://www.msn.com/en-au/money/markets/over-dollar100-billion-wiped-off-global-cryptocurrency-market-in-24-hours/ar-BBIDsxA?li=AAgfYrC&ocid=mailsignout


As the ad says .......” down , down prices are down ....”


Shares to watch ....  CANN group ( government regulated company for Cannibis .... )

Bought some in MMJ, a medical cannabis company.

Buy some shares in Monadelphous Code MND . My mate keeps telling me to , he has made good money with them. Mainly buying when down and selling when up . I have not bought any as yet .....

I have been reading that Bitcoin can go from USD$6,000 to USD$60,000 this year what do you think ? After the Chinese new year things will start to move .

It seems to me that they key to trading Bitcoin or other currencies is being able to buy or sell quickly depending on the market movements. I had been interested in Ethereum and had I been able to buy and sell quickly might have done quite well. Ran into a veritable brick wall as I am now living in Indonesia and most of the trader websites do not accept registrations from Indonesia. I then tried using a VPN which can indicate you are actually in Singapore which is acceptable. Tried registering with a US company but got stuck as they require a mobile contact to SMS verification of the account. My mobile is in Indonesia so the system would not accept that.
For quite some time I kept looking at other possibilities. Whenever I found a "likely" company I would look at reviews. It seems there is hardly a trader that does not have someone saying their site is a scam. Worse, there are companies that have accepted deposits but suddenly turn deaf when it comes to trying to draw your money out.
This whole process may be easier from Australia and I don't doubt that there are some reputable companies but the hot water is just swarming with sharks and some massive cheating with hacking and stealing of hundreds millions of dollars.
Another thing to look at closely are fees. Some of the trader fees would basically eat up your profits before you got something out the end. That said, there are obviously many astute people, including honest ones, who have made a lot of money. But for every profit there is a loser.
The other element is the sheer complexity of setting up and dealing with accounts and the almost impenetrable language that is thrown around.
So, several months on still unable to trade and offer this experience just as a cautionary tale.

When Bitcoin goes to a high , you need to sell a percentage to cash and take it away . Otherwise you will see it fall and loose your paper profit .

Minermike wrote:I have been reading  that Bitcoin   can go from USD$6,000    to   USD$60,000     this year what do you think ?    After the Chinese  new year things will start to move .  

Why would the Chinese new year affect the crypto market though?

They spend money for the New Year , cash in their Bitcoin etc. The Chinese are very superstitious , lot of their buildings do not have 13 th. floor , that includes some in Sydney . They will not buy / live on the 13 th. floor . It is very auspicious for them to invest just after their New Year .

Minermike wrote:Younger people on this forum   should look into   Bitcoin because it is going to  affect  your life.   Last year it increased in value  by 100 %  I expect it to double again this year.  It is already up 79 %    this year.  I did have some that I paid about  $890  for   , they are now worth about $2,400 .  I no longer have them....   Some people predict    that they will go to  $10,000  -$ 50,000  or even $1 million , for one !  Buy one and hold it,  better than buying and selling gold.

Not a bad return nearly 400% since May 2017.The price just now was around $9700AUD.Not many investments can match that.

Bitcoin Explained.

https://www.facebook.com/BITCOlN/videos/958428317645472/UzpfSTEwMDAwMDQ1NzMxNDAyNDoyMDk4OTI1MjUwMTMyNjk4/
wombat 

I bought $2K+ bitcoins in 2011, unfortunately the acct. I setup you cannot withdraw from, they keep telling me that Oz Gov. wont allow Ozzies to withdraw

My tip when it comes to BCs is make certain you can withdraw from your acct. !!!

What exchange was that ? You should be able to transfer your Bitcoin to another exchange . That has nothing to do with the Oz .gov . Open an acc. with Independent Reserve in Sydney , then transfer your Bitcoin , then you can sell for Aussie dollars .