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The Currency Revolution - With Bitcoin

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Brilliant mate.  I knew youd come to the rescue.  Will convey this advice and hope for the best.

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I've ordered a Ledger Nano S because of the support for so many altcoins, particularly Monero. 

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Im learning some things investigating this lockout drama.  Wallet recovery service is interesting 20% commission no win no fee.

 

MANY technical dramas with wallets many millions worth of ether lost.

 

A safer way to access my ethereum wallet is to just download the website and open it up from your hard drive.

 

Hardware wallet definitely the wisest option.

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what dyu gotta do to get started?

must haz bitcoin for extra ways to say fuck you to high and mighty without saying any words

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12 hours ago, ☽Ţ ҉ĥϋηϠ₡яღ☯ॐ€ðяئॐ♡Pϟiℓℴϟℴ said:

what dyu gotta do to get started?

must haz bitcoin for extra ways to say fuck you to high and mighty without saying any words

 

Which country do you live in? If you let me know where you live then I can point you in the right direction.

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4 hours ago, migraineur said:

 

Which country do you live in? If you let me know where you live then I can point you in the right direction.

uk mate and thank you very kindly in advance!

Edited by ☽Ţ ҉ĥϋηϠ₡яღ☯ॐ€ðяئॐ♡Pϟiℓℴϟℴ

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Check out the exchanges Kraken and Coin Base. Local Bitcoins might be worthwhile too. 

 

You have to take into account the cost of the bitcoins on each exchange and the fees that the exchanges charge.

 

If you plan on buying large amounts of crypto currency to invest in then buy a hardware wallet such as a Ledger Nano S. 

 

Don't trade coins using Paypal because you're asking to be scammed. 

 

If you have large amounts of bitcoin then don't leave it on the exchange. It's much better off in your possession in case an exchange gets hacked or shut down.

 

Good software wallets that you can install on your phone or tablet include Mycelium, Bread Wallet and Electrum. There are others but these ones are really good.

 

Desktop wallets include Bitcoin Core and Electrum. Exodus looks like decent desktop software that helps you manage your cryptocurrency portfolio. 

 

I'd also recommend checking out www.reddit.com/r/bitcoin for more information. There's a huge amount of information there so do take a look. 

 

 

 

 

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what i mean is, ... what do you do first? get a digital wallet?

is there a step by step instruction site ? or are those the exchanges? i shd really search them and check so will do but i mean literally i have fuck all clue or maybe its so simple i cant see it lol

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You can start by downloading Mycelium wallet onto your phone. 

 

If you go to the Reddit link that I posted in my previous post you'll see info on the right hand side about getting started etc. Click on those links.

 

One important thing I will say is that when you download Mycelium and create a new wallet then it will give you a "seed" that is a bunch of at least 12 random words (it can be more). Write the seed down on a piece of paper and store it in a safe place. Don't let anyone else see it. If you lose your phone then you can use the seed to get access to your funds again. However, if someone else finds your seed and knows what it is then said person can steal your funds. 

 

 

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will have to get one of them hardware wallets as soon as funds allow i reckon , which should give some research time

 

extra thanks with twin terbo kudos

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I am hesitant to jump on the wagon as personally i think the boom time has now past with more companies using it now. Would this a reasonable assumption or am I just living behind my fears of taking the plunge?

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It can go up, down, or around and around.  Buy the dips and dont gamble more than you can afford.

 

A lot of people.are starting to call it a bubble but that doesnt mean it is; bubble or not it might still go much higher.

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23 hours ago, ☽Ţ ҉ĥϋηϠ₡яღ☯ॐ€ðяئॐ♡Pϟiℓℴϟℴ said:

does it have to be on a phone or can it be on a lappy? is phone best?

what if you have a shit phone? lol

 

I have wallets on my phone, PC and I own a hardware wallet. There's no reason why you can't play around with various wallets on various devices to see how it works and what you like. When I use my hardware wallet I can connect it to my phone and it works with Mycelium (as well as others) or I can connect it to my PC and use it that way.

 

Definitely consider a hardware wallet. Coinstop is an official Aussie re-seller of the Ledger Nano S. They probably sell other hardware wallets too. I have a Keepkey but I just bought a Ledger Nano S and I'm playing around with it now. 

 

The good thing about a hardware wallet is that you need physical access to it to move funds so if you've got malware on your computer then the thief isn't going to be able to steal your funds off your hardware wallet because they have to physically press a button to approve transactions. If someone is dumb enough to write their seed in notepad or something and the thief discovers it then a hardware wallet isn't going to save said person from their stupidity. 

 

 

Edited by migraineur
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13 hours ago, 87_botanist said:

I am hesitant to jump on the wagon as personally i think the boom time has now past with more companies using it now. Would this a reasonable assumption or am I just living behind my fears of taking the plunge?

 

People have been saying that for years and people who have thought that in years past end up with more and more regret as they watch the price go up. Cryptocurrencies are still so young in the scheme of things and most people don't even know what they are. There are also other useful cryptocurrencies that one can invest in. There are also plenty of shitcoins that I feel are pump and dumps and I strongly suggest that people educate themselves before buying into things they don't understand. Other cryptocoins that I have bought that I think are promising are Ripple, Monero and Litecoin.

 

Monero I bought because of its inherent privacy and it was the second currency to be accepted by those online darknet markets so it actually has a use beyond speculation. It's also truly fungible so you don't have to worry about "tainted coins" etc. I bought a bunch when the price was a lot lower and I've done well from it but it is becoming more popular because of its privacy and fungibility which bitcoin has trouble with. https://en.wikipedia.org/wiki/Monero_(cryptocurrency)

 

Ripple I invested in because of the potential it offers when it comes to the banking industry. Big banks and other big companies are becoming involved in it so it's very promising. https://en.wikipedia.org/wiki/Ripple_(payment_protocol)

 

Litecoin I invested in because of its technical improvements that made transactions faster and cheaper to transact with (see Lightning Network and Segregated Witness aka SegWit). Other cryptocurrencies are starting to implement this technology, including bitcoin. Atomic Swaps are also being worked on which will allow for the trading of cryptocurrencies without the need for a centralised intermediary like a bitcoin/cryptocurrency exchange. https://en.wikipedia.org/wiki/Litecoin

 

I've bought things using bitcoin and there are companies that will let you have a debit card that you can fund with bitcoin. From memory there's an Aussie company that lets you pay your bills etc via bitcoin. 

 

I had some money sitting in a savings account but the banks are offering hardly any interest at the moment so I decided to put a chunk into cryptocurrency. My decision has worked very well for me. 

 

If there are any Aussies here who want to get started then I can point you in the right direction to some local places where you can buy. I've also got a referral code that you can use. 

 

 

 

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Congrats guys, BTC forging new highs :-)

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I remember when I was living in a remote country town end of 2012, first getting into bitcoin and wanting to buy some stuff. They were about $8-11aud/ea from memory.

 

Got a few from mt gox (now defunct I believe), got some stuff and then a short time after lost my wallet with about 100~ coins left on it.

GIven the price they are now I am absolutely kicking myself :(

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17 hours ago, Gimli said:

I remember when I was living in a remote country town end of 2012, first getting into bitcoin and wanting to buy some stuff. They were about $8-11aud/ea from memory.

 

Got a few from mt gox (now defunct I believe), got some stuff and then a short time after lost my wallet with about 100~ coins left on it.

GIven the price they are now I am absolutely kicking myself :(

tough break bro, you coulda sdettled for 3/4 million AUD today, but even then you'd be selling too early!! You'd better buy some more, before its too late :-)

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I think its great technology but i cant bring myself to store my wealth (term used loosely) on a distributed ledger.

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This vid at the 15 minute mark to around about the 19 minute mark [if you're not down for the other content].. - I couldn't link it to start at that point but would've if I'd've could've done so :3

 

Edited by ☽Ţ ҉ĥϋηϠ₡яღ☯ॐ€ðяئॐ♡Pϟiℓℴϟℴ

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The last lines of the OP really put things into perspective:

Quote

single bitcoin is currently worth about $11.80 AUD..

.

As of today 1 BTC is $7243 AUD

If you had invested $100 AUD at the time this thread was created and hodl the btc until now you'd have around $70k.

The more you wait to get in the more you're missing out guys. 52% growth this month alone.

 

Horsey pm me if you need help getting started

Edited by MeanGreen

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You guys surely understand that this is a speculative bubble. Bubbles degrees can't be seen in real time, only in retrospect. History shows us this.

 

I'm not saying crypto isn't great for investors now or to sell all your alt-coins (I'm certainly holding right now). But it will pop, demand will taper and people will cash in. Other investors will see the trend and sell too. Some will be winners and some will be losers. Where it's mean value falls after the pop is another point of contention, though I suspect it is not as high as it is now. Think of dot-com, housing estates, or even tulips...

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