# Are you working on cryptocurrency



## Dubai here i come! (Aug 7, 2013)

Hi all,

Getting a lot of opportunities to invest in digital currency after the bitcoin boom.

What do you say? which one is best?


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## twowheelsgood (Feb 21, 2013)

None. Its all rubbish.


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## rsinner (Feb 3, 2009)

I am collecting Tulips these days. People say it is the best investment.


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## stevesmithone (Jun 1, 2017)

Dubai here i come! said:


> Hi all,
> 
> Getting a lot of opportunities to invest in digital currency after the bitcoin boom.
> 
> What do you say? which one is best?


I purchased Bitcoins around 18 months back and am obviously delighted with the growth. Also had them before the split with Bitcash and Bitgold, so doing very well. However, I can watch the prices for twenty minutes in an afternoon, losing and gaining thousands in that period, so it’s not exactly risk free and steady.

A more volatile market, you couldn’t wish to be involved in, but the general trajectory of each currency seems to be up. A friend put money into IOTA a week and a half ago and last I looked, he’d quadrupled his money.

Be prepared to lose the lot though.


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## SgtRoswell (Apr 7, 2014)

twowheelsgood said:


> None. Its all rubbish.


The very reply from those who missed the train!


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## twowheelsgood (Feb 21, 2013)

SgtRoswell said:


> The very reply from those who missed the train!


Being on a train which can only end up in a train wreck isn't a train to catch. its just a Ponzi scheme.

Its just another bubble which will collapse within hours once it start and all those people who will think they are rich, will have nothing.

Its a GenY/Gen X equivalent of the Dotcom crash except at least the dotcom companies delivered some things of use before they collapsed.


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## SgtRoswell (Apr 7, 2014)

twowheelsgood said:


> Being on a train which can only end up in a train wreck isn't a train to catch. its just a Ponzi scheme.
> 
> Its just another bubble which will collapse within hours once it start and all those people who will think they are rich, will have nothing.
> 
> Its a GenY/Gen X equivalent of the Dotcom crash except at least the dotcom companies delivered some things of use before they collapsed.


Have you even used it for once? Calling something a Ponzi scheme just shows your ignorance and probably you are relying too much on brits media which are majority calling it a Ponzi. British people who heavily rely on their banking system refuse to understand a thing or two about Bitcoin or cryptos as it threatens their foundation. 

Let me break it to you, its not about being rich. Its more of a philosophy and distrust on current fiat centralized system. 

There had been many bubbles since its inception and there will be many more due to the high volatility . So far bitcoin has died 217 times. lol


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## twowheelsgood (Feb 21, 2013)

SgtRoswell said:


> Have you even used it for once? Calling something a Ponzi scheme just shows your ignorance and probably you are relying too much on brits media which are majority calling it a Ponzi. British people who heavily rely on their banking system refuse to understand a thing or two about Bitcoin or cryptos as it threatens their foundation.
> 
> Let me break it to you, its not about being rich. Its more of a philosophy and distrust on current fiat centralized system.
> 
> There had been many bubbles since its inception and there will be many more due to the high volatility . So far bitcoin has died 217 times. lol


As its a 'money' with zero underlying value or link to anything tangible, and will only continue to work as long as people 'think' it will work, its a Ponzi scheme. Its reliant upon a continual flow of mugs buying it.

It doesn't threaten anything except itself - the world economy which is based upon real tangible things, won't be affected by monopoly money, as that's what it is in effect.

Its about tech people thinking (again) they can make a load of money with no tangible backing and zero to do with some kind of desire to do away with fiat currency. Its about a desire to think you are rich without all that annoying hard work and time it takes to become rich.

Lets see what happens in a couple of years when people realise its worthless and have the conversation again.


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## stevesmithone (Jun 1, 2017)

It’s got no more or no less value than the paper notes in your pocket. Like any currency, it’s worth is what people are willing to pay for it and unlike “normal” currency, there’s a finite amount of it. Banks can’t just conjur up more from fresh air as they do with currency now. There just presently happens to be volatility in the market just now. But again, that happens in other currencies. Ask people who live in Zimbabwe or Venezuela. 

To be honest, I’m more interested in the Blockchain technology behind the currencies. There are a huge number of uses for the tech and we could enjoy some major transparency in things like elections if it is used properly.


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## twowheelsgood (Feb 21, 2013)

stevesmithone said:


> It’s got no more or no less value than the paper notes in your pocket. Like any currency, .


No, currencies have economies backing them. Millions of jobs, billions in trade and real people running the currency in effect.



stevesmithone said:


> and unlike “normal” currency, there’s a finite amount of it..


No, Bitcoin is created/mined out of thin air and the amount is not finite. Someone can just create yet another currency out of thin air, with no backing, other than a computer.



stevesmithone said:


> There just presently happens to be volatility in the market just now


Thats what happens before a bubble bursts.




stevesmithone said:


> But again, that happens in other currencies. Ask people who live in Zimbabwe or Venezuela.


It happens in otehr currencies when the underlying economic gfactor smake it happen - not just random talk about this or that which is what happens with Bitcoin and the like. nd economies can react to damp down volatility to stop speculators destroying the currency - something that cannot be done with Bitcoin.

sadly, there are a lot of people alive and with money today that have no experience of a crash like the Dotcom crash. Bitcoin will disappear up its own backside as soon as people realise its just Monopoly money - or the first hacker breaks it electronically.


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## twowheelsgood (Feb 21, 2013)

44% dip ?


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## stevesmithone (Jun 1, 2017)

It’s dipped back to the price it was 16 days ago, hardly a cause for concern. In addition, it’s had seven dips of anything from 20-50% this year, before jumping up by at least 70% within a fortnight. 

Even with this latest dip, you’d be looking at investment growth of around 1500% in a year. Not bad.


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## VIP 8 (Aug 30, 2017)

I've been thinking and wondering about Ripple lately.


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## Stevesolar (Dec 21, 2012)

VIP 8 said:


> I've been thinking and wondering about Ripple lately.


I still prefer Flake!


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## VIP 8 (Aug 30, 2017)

Stevesolar said:


> I still prefer Flake!


Indeed, a legendary brand even for me, and a contest which could easily threaten to tear humanity apart. Good thing I'm both gluten free and off sweets for months now.


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## VIP 8 (Aug 30, 2017)

(Oops - dup post because the first one got an error page.)


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## VIP 8 (Aug 30, 2017)

SgtRoswell said:


> There had been many bubbles since its inception and there will be many more due to the high volatility . So far bitcoin has died 217 times. lol


All chocolatey goodness aside, you seem to be quite seriously pro-crypto. Do you have any thoughts regarding both Ripple and IOTA? I have no altcoin cryptos yet myself. Are there any you recommend and why?


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## SgtRoswell (Apr 7, 2014)

twowheelsgood said:


> ...
> Lets see what happens in a couple of years when people realise its worthless and have the conversation again.


See you in two years !


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## SgtRoswell (Apr 7, 2014)

VIP 8 said:


> All chocolatey goodness aside, you seem to be quite seriously pro-crypto. Do you have any thoughts regarding both Ripple and IOTA? I have no altcoin cryptos yet myself. Are there any you recommend and why?


It depends on how you take altcoin. Some people just want to make quick money out of altcoins and others go for its technology / business value. 

Ripple is a centralized coin used by banks mostly as payment network. I believe (and I can be wrong) it will never go above certain value. Think of it as Japaneses Yen... 

Zcash is built on promising technology and I really subscribe to the idea behind it...you can do your research. 

You need to be very careful when it comes to alt coin as it could be a scam. Do your research, see its business value, watch out for volumes on different exchange.

https://coinmarketcap.com/


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## VIP 8 (Aug 30, 2017)

SgtRoswell said:


> It depends on how you take altcoin.


I haven't had any yet, but definitely not with cream and sugar. 




SgtRoswell said:


> Some people just want to make quick money out of altcoins and others go for its technology / business value.


Ripple seems solid for the latter even if some are upset by how it supposedly deviates from the decentralized philosophy, but I'd take the former too.



SgtRoswell said:


> Zcash is built on promising technology and I really subscribe to the idea behind it...you can do your research.
> 
> You need to be very careful when it comes to alt coin as it could be a scam. Do your research, see its business value, watch out for volumes on different exchange.


Interesting, will look into that Zcash and thanks for your input. And yes I do know about the garbage "me too" and potential scam coins.

Another thing has been popping up which I think is completely bonkers. What is this business of allegedly not being allowed to buy altcoins without first buying Bitcoin and then converting to altcoins? What is going on with that? Do all exchanges require that? What is the reason or rhyme why that would even be required?


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## Byja (Mar 3, 2013)

VIP 8 said:


> Another thing has been popping up which I think is completely bonkers. What is this business of allegedly not being allowed to buy altcoins without first buying Bitcoin and then converting to altcoins? What is going on with that? Do all exchanges require that? What is the reason or rhyme why that would even be required?


You can buy a lot of alts directly for cash, or for that fake cash that is made out of thin air - USDT. Even on our "local" exchange in UAE you can buy ETH for AED.


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