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#1462173 - 20/04/2018 00:03 Cryptocurrency and Blockchain technology
Thunderstruck Offline
Lightning man

Registered: 10/05/2001
Posts: 14896
Loc: Seaford Meadows, SA
I figured that it was time to put a thread for this up, I know these days a lot of us are talking on fb but was still keen to see if I could get something going about Crypto in here to see who is interested in it (I know a few from here that are).

I firmly believe it is the future and the way forward as time goes by - right now we are still not even through the skin of the apple in the grand scheme of things. The amount profit to be made by investing and or trading these currencies is enormous.

Bitcoin, Ethereum, NEO are just 3 of many many coins or technology/platforms. I'm sure a fair few of you who don't know much about what crypto is have at least heard of bitcoin, well that is a start, there is no substitute for learning. So please, anyone keen or interested, fire away and lets get the thread going to share ideas on the market, and what coins people are most interested in/tips etc.

I'll list my favourite ones just to begin with:

NEO, VEN, ADA, POWR, QSP, ICX, POE, SUB, ETHOS, MOD, XLM and STEEM

TS cool

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#1462192 - 20/04/2018 10:21 Re: Cryptocurrency and Blockchain technology [Re: Thunderstruck]
J Pabo Offline
Weather Freak

Registered: 12/10/2012
Posts: 392
Loc: Clydesdale NSW
Why have a BitCoin when you can have a pocket full of whole coins?



Sorry, I couldn't help it. wink

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#1462244 - 20/04/2018 15:16 Re: Cryptocurrency and Blockchain technology [Re: Thunderstruck]
Rsav Offline
Weather Freak

Registered: 07/12/2016
Posts: 77
Just beware of the automated bitcoin trading platforms on the internet. Most if not all of them are scams.

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#1462264 - 20/04/2018 18:28 Re: Cryptocurrency and Blockchain technology [Re: Thunderstruck]
Pooraka Offline
Weather Freak

Registered: 24/02/2006
Posts: 132
Loc: Pooraka, Adelaide, South Austr...
Good thing scams were mentioned, thats a question I have at the moment. I am thinking of dipping my toes in and maybe buying some Ethereum. I did a little research on the best place to buy Etherium bitcoin and other Altcoin with Australian Dollars. A lot of people were saying BTC Markets or Independent Review. I started with BTC markets but they require identity checks which are currently pending. My concern is I have read some reviews since saying they are a scam and similar reviews of Independent Review. People saying they had their crypto stolen and cant contact them etc. I have also read contradictory reviews saying that those reviews are false. Its giving me the heebie jeebies a bit to be honest and making me reluctant to give any further information out.

How do you guys go about buying Crypto in Australian dollars? Is BTC markets and Independent Review legit? Are there better places to buy?

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#1462313 - 21/04/2018 11:11 Re: Cryptocurrency and Blockchain technology [Re: Thunderstruck]
Rsav Offline
Weather Freak

Registered: 07/12/2016
Posts: 77
You can start by finding out if these operators are licensed by ASIC to do business in Australia. If they're not, avoid them. Check with ASIC and the ACCC to see if any complaints have been made against them. Also find out where they are based - if it's off shore, especially some obscure country or location like a tax haven, avoid them.

Do your research using reputable sources like the government agencies mentioned above, or long established media outlets like the Financial Review, rather than possibly dodgy websites where you don't know who's behind them or whether they are telling the truth.

Above all, be careful. Very careful.

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#1462359 - 22/04/2018 01:05 Re: Cryptocurrency and Blockchain technology [Re: Thunderstruck]
Thunderstruck Offline
Lightning man

Registered: 10/05/2001
Posts: 14896
Loc: Seaford Meadows, SA
I started on coinspot which made for trading in AUD but was sick of the fees and now do all my trading on Binance. I recommend that if you want to have freedom to trade and avoid hefty fees.

However Binance doesn't allow FIAT deposits yet so I deposit AUD onto coinspot, buy GAS, send that GAS to Binance (only one that doesn't have a fee) and then sell that GAS to BTC and use BTC pairs for my trading on Binance

TS cool


Edited by Thunderstruck (22/04/2018 01:08)

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#1462588 - 26/04/2018 13:26 Re: Cryptocurrency and Blockchain technology [Re: Thunderstruck]
Markus Offline
Weatherzone Moderator

Registered: 02/12/2010
Posts: 2159
Loc: Clare, SA
Had a feeling you might be into this TS!

I feel like it is still a rather risky time to be putting large sums into this market despite indications of a bit of a bull in the last week (which is already dropping again). Nothing at all has felt right about the market since the great bullrun of 2017. Pump and dumps have been occurring almost on the daily at random on almost every token. Market feels heavily manipulated which isn't a surprise given there's no regulation and huge sums to be made.

As for long term profits, hell I'm still iffy. I think it's more a case of getting in before the FOMO hits hard and bitcoin/ether etc starts making news headlines then getting out before the inevitable crash. Google trends seems to be a good indicator of this and currently it is still flattening out however it is close to a rebound perhaps. It is a bit laughable to call anything we have at the moment currencies because they are near useless in that application as it stands. Seems likely we will see another huge pump eventually, as for when, who knows...could even be the beginnings now.

For the future blockchain certainly has many uses but as a currency I'm not so sure. 99% of what's out there today will be gone years from now. Trading currently can net big bucks but damn is it risky.

_________________________
My Blogging site.

http://markdawsonphoto.wordpress.com/

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#1462613 - 26/04/2018 21:00 Re: Cryptocurrency and Blockchain technology [Re: Thunderstruck]
Brett Guy Offline
Meteorological Motor Mouth

Registered: 05/10/2010
Posts: 5075
Loc: Bently Park, Cairns
I can't see it being anything but a disaster long term. It is not taxed. And without taxes countries don't function. Govt's will simply not allow these currencies to gain any real foothold and if they are not universial they will be subject to way too much volatility based on the ebbs and flows of any fad. Some people will make a lot of money off them but most will lose out.

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#1462640 - 27/04/2018 10:56 Re: Cryptocurrency and Blockchain technology [Re: Thunderstruck]
ozthunder Offline
Weatherzone Addict

Registered: 23/09/2001
Posts: 3104
Loc: Mt Warrigal, NSW, Australia
It may be the future eventually in longer term. I still think there will be bubble with many ordinary people who cannot ride it out being burnt.

If you want any more proof, Lehman brothers have a cryptocurrency.
_________________________
Michael Thompson
http://ozthunder.com

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#1462641 - 27/04/2018 11:20 Re: Cryptocurrency and Blockchain technology [Re: Thunderstruck]
Thunderstruck Offline
Lightning man

Registered: 10/05/2001
Posts: 14896
Loc: Seaford Meadows, SA
I see it as a technological revolution and we are now starting that change. The lack of regulation is a good thing and that is what is so attractive (unless you like Ripple which to me is more like Cripple). The whole movement of crypto is away from regulation to a de-centralised society. In time I am sure various governments will crackdown, always that is the case in various countries but we need to keep an open mind.

The same thing was said about the dot com bubble at the time....

So essentially I don't view it as a currency as such but more a platform/solution. You cannot go wrong if you DYOR and choose projects with real life solutions such as POWR (2 million dollar Government grant) currently doing amazing things.

90% of the coins/tokens are scams and rubbish but there are some absolute gems, like any stocks/companies or what have you.

TS cool


Edited by Thunderstruck (27/04/2018 11:21)

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