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#1 | ||
Central to all beach's
Join Date: Dec 2005
Location: Alice Springs
Posts: 1,653
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Does any one else here dabble with crypto currencies ?? I'm a late starter but a definate convert. The risks are real but the returns are fantastic....
Cheers all.
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Real Aussie muscle cars have a clutch!! http://www.roadsense.com.au/about.html |
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#2 | ||
Moderator
![]() Join Date: Jan 2014
Location: Melbourne
Posts: 7,940
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Yes.... Here's the trick;
Buy them... Wait till the price doubles... Then sell half of them. That way you get your money back, leaving only the profit to gamble with. If it collapses afterwards... You've lost nothing. ![]() |
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#3 | ||
Central to all beach's
Join Date: Dec 2005
Location: Alice Springs
Posts: 1,653
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Thats exactly what I have done with ripple. It only took 2 weeks for my money to triple. Took out my original amount and now watching my profit grow like a McDonalds addict....
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Real Aussie muscle cars have a clutch!! http://www.roadsense.com.au/about.html |
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#4 | ||
3..2..1..
Join Date: Nov 2009
Location: Bellbird park
Posts: 7,218
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I wanna be a sceptic but I'm intrigued at the same time.
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#5 | ||
Central to all beach's
Join Date: Dec 2005
Location: Alice Springs
Posts: 1,653
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I was very sceptical. But I have done a heap of research on ripple and have come to the conclusion that it could go the path of bitcoin. In fact the technology is so different and smarter that it could make bitcoin redundant one day.
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Real Aussie muscle cars have a clutch!! http://www.roadsense.com.au/about.html |
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#6 | ||
\/\/\/\/\/\/\/\/
Join Date: Feb 2006
Posts: 5,694
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How do you even buy Ripple? Or Bitcoin for that matter?
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#7 | ||
FF.Com.Au Hardcore
Join Date: Jan 2005
Posts: 3,142
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If you're on Facebook join the group Crypto Australia, a lot of info on how to start off.
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#8 | ||
Wait, what?
Join Date: Jun 2014
Location: South eastern melbourne
Posts: 2,677
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I’m trying to start, ripple and litecoin, just don’t know how to start or who to trust
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#9 | ||
GT-P With An Ego
![]() ![]() Join Date: Feb 2005
Location: Canberra
Posts: 20,563
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there's plenty of guidelines on line, google will help heaps here.
essentially there's two ways to start. - mining the coins - using your computer power (and electricity) to generate the coins, there's upfront costs here that will eat your profit. and the chinese have this all sewn up with cheap electricity and entire warehouses filled with computers doing the job - it's difficult requiring hourly (or more) adjustments to keep a mining system profitable. with a small setup and aussie power costs. (if you have excess solar power you can be in front easily) - buying coins with real cash via an exchange. there's lots of exchanges. who to trust - no one currently - it's very much in the wild west phase still. lots of scams and hackers trying to make it big at the expense of others. unfortunately the "if it sopunds to good to be true" test is hard to apply because the gains all do sound too good to be true, you have to research anything before you put your money in it - and play knowing you could lose it all - so only play with what you can afford to lose.
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1998 DL LTD in Sparkling Burgundy, daily, mild 5.0L, high end stereo, slow'n'thirsty - 138.8rwkw. 2006 BF GT-P in Ego, 5.8L all alloy, Kenne Bell 2.8HLC, Nizpro Stage 2 ZF - 440rwkw. 2008 SY F6X in Silhouette, Ford Performance Club of ACT |
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#10 | ||
FF.Com.Au Hardcore
Join Date: Nov 2011
Posts: 1,547
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Know nothing of all this stuff...if looking to play with only a few hundred of secret fund stashed away for go-fast bits, is it even worth it? I'm not a gambler at all, and taking advice from post earlier to only invest what you would be willing to lose, I'd only be looking to drop $500-$600.
Little reading I have done in last 10 minutes suggests only safe way to play is buy a Nano wallet or similar, which is $130+. That's about 20% of all I would be looking to play with. How unsafe is it leaving it in the Exchange or whatever it is - do they get hacked regularly? Never looked into this before - for those that are into it, if you were starting from scratch and only playing with $600, and looking to get into Ripple likely by transfer from bank account, who would you buy through, and how would you store it? Can you even get into it with that small an amount? Last edited by Iggle Piggle; 15-12-2017 at 11:33 AM. |
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#11 | |||
Central to all beach's
Join Date: Dec 2005
Location: Alice Springs
Posts: 1,653
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Quote:
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Real Aussie muscle cars have a clutch!! http://www.roadsense.com.au/about.html |
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#12 | ||
GT-P With An Ego
![]() ![]() Join Date: Feb 2005
Location: Canberra
Posts: 20,563
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If you're not a gambler crypto isn't for you. it's like day trading shares, but you have to minute trade, things change that fast.
__________________
1998 DL LTD in Sparkling Burgundy, daily, mild 5.0L, high end stereo, slow'n'thirsty - 138.8rwkw. 2006 BF GT-P in Ego, 5.8L all alloy, Kenne Bell 2.8HLC, Nizpro Stage 2 ZF - 440rwkw. 2008 SY F6X in Silhouette, Ford Performance Club of ACT |
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#13 | ||
FF.Com.Au Hardcore
Join Date: Jan 2007
Location: Port Lincoln, SA
Posts: 5,126
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I don't want to be judgemental or subjective in any manner but the sceptic in me has noticed; in my social media experience, the people banging on about crypto $ have never held down a steady job or been on a career path
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cheers Shaun Current SY FPV F6X Territory #214 Previous FG MkII G6E Turbo built by Heinrichs Performance and Tuning BFII FPV TORNADO #0021 351rwkw - Heinrich Performance and Tuning "Milk is for babies. When you grow up you have to drink beer" - Arnold Schwarzenegger |
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#14 | |||
GT-P With An Ego
![]() ![]() Join Date: Feb 2005
Location: Canberra
Posts: 20,563
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Quote:
There's many people and investment companies with millions invested. It may have started as some nerds in basements, but it's proper big business now.
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1998 DL LTD in Sparkling Burgundy, daily, mild 5.0L, high end stereo, slow'n'thirsty - 138.8rwkw. 2006 BF GT-P in Ego, 5.8L all alloy, Kenne Bell 2.8HLC, Nizpro Stage 2 ZF - 440rwkw. 2008 SY F6X in Silhouette, Ford Performance Club of ACT |
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#15 | ||
FF.Com.Au Hardcore
Join Date: Jan 2007
Location: Port Lincoln, SA
Posts: 5,126
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I don't disagree, but like I said that's just my social media experience and my social media group isn't that big; and I know everyone personally in it (well FB anyway). I'm sure theres some genuine gains to made somewhere, regardless of size. I do just hope though that its not at the expense of those easily led small players who see this a genuine way to make income and their outlay sees a genuine return, not just making some cheeky bugga in a basement rich in the process... a pyramid scheme connotation comes to mined but I know nothing of crypto $ either.
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cheers Shaun Current SY FPV F6X Territory #214 Previous FG MkII G6E Turbo built by Heinrichs Performance and Tuning BFII FPV TORNADO #0021 351rwkw - Heinrich Performance and Tuning "Milk is for babies. When you grow up you have to drink beer" - Arnold Schwarzenegger Last edited by raised by monkeys; 15-12-2017 at 12:51 PM. |
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#16 | ||
Central to all beach's
Join Date: Dec 2005
Location: Alice Springs
Posts: 1,653
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I wont give anything like financial advice. But this is what I did three weeks ago. I went to BTC Markets and opened an account. It took about three days to be approved. You will need 100 points of ID verification. When account approved I put in 10K at about 26 cents average over 5 days.
Last night ripple peaked at $1.49 and has since settled back at around $1.10. It will likely stay there for a few days. Australias big four banks are currently experimenting with it for electronic finds transfer. American Express and some other international banks have already adopted it as their primary funds transfering currency. If you research Ripple you will see why big financial institutions and even governments (South Korea and Japan) have started using it. But as has been said in this thread, dont buy anymore than you can afford to loose. It is very volatile but I think that ripple is as legitimate as a crypto currency can get. Good luck eberyone.
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#17 | ||
Wait, what?
Join Date: Jun 2014
Location: South eastern melbourne
Posts: 2,677
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#18 | |||
FF.Com.Au Hardcore
Join Date: Jun 2010
Location: Desert City
Posts: 2,326
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Quote:
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2017 Mustang GT (Magnetic) |
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#19 | |||
Donating Member
![]() Join Date: Jun 2007
Location: Checking out soft furnishings....
Posts: 8,684
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Quote:
I started with $500 4 months ago, went down to $120 over a month but I held. My CVC went up 300% overnight and i sold it all as i didnt want to be greedy. I slowly started building up my little stash. On Wednesday last week I sold ALL my coins and went all in on on LTC on a whim from a tip off from a mate. I bought 27 @$130 a piece. I had cashed out my initial $500 so thought who cares what happens. On Tuesday I sold my 27 LTC for $403 each. I now have it all sitting as BTC as i'm still realising how much money I made in such a short time. I'm planning on cashing out half and putting the other half back into something. I have single mates who are sitting on over 200k from an initial 10k investment. Im literally just copying one of my mates now but on a smaller scale. Last edited by fordomatic; 15-12-2017 at 09:53 PM. |
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#20 | ||
The Destroyer
Join Date: Jun 2007
Location: Gold Coast
Posts: 2,245
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tripled my initial investment. pulled it all out and put 1/3 back in for the long haul.
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Toy- Blown XR8 Ute. Black on black "Front-drive cars are for children" |
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#21 | ||
Donating Member
![]() Join Date: Feb 2006
Location: Roxby Downs, SA
Posts: 1,439
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Just created an account. Now I have to wait for the letter. Probably be weeks away now with the xmas break etc. Watch everything increase ten fold now before I am verified. Then I wont be able to afford to buy anything lol.
Sent from my SM-G935F using Tapatalk
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ZG Fairlane 500 351 - First car - Now restoring! - LOOKING FOR ZG PARTS - BLACK AUTO CONSOLE - BLACK DASH PAD - BLACK SEAT BELTS (WITH THE METAL BUCKLES) - RIGHT REAR CHROME TRIM XF Falcon S Update EFI - SOLD EL2 XR8 - SOLD BF F6 RSPEC #139 - SOLD Now rocking the SZ Territory Titanium Petrol Family Beast |
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#22 | ||
Central to all beach's
Join Date: Dec 2005
Location: Alice Springs
Posts: 1,653
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__________________
Real Aussie muscle cars have a clutch!! http://www.roadsense.com.au/about.html |
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#23 | |||
FF.Com.Au Hardcore
Join Date: Jan 2007
Location: Port Lincoln, SA
Posts: 5,126
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Quote:
__________________
cheers Shaun Current SY FPV F6X Territory #214 Previous FG MkII G6E Turbo built by Heinrichs Performance and Tuning BFII FPV TORNADO #0021 351rwkw - Heinrich Performance and Tuning "Milk is for babies. When you grow up you have to drink beer" - Arnold Schwarzenegger |
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#24 | |||
GT-P With An Ego
![]() ![]() Join Date: Feb 2005
Location: Canberra
Posts: 20,563
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Quote:
started with BTC back in 2011 (a little after it initially started), tried it as a gag as the technology interested me, invested ~$1500 in computer gear to mine some. Mined several hundred of them. Cashed out 100BTC when they were 100AUD/ea. (2012) = 10k, so 8.5k profit (excluding electricity, I haven't tracked that). I then played around with trading on MtGox, turned 50BTC into over 350BTC, withdrew to my offline waller and kept 50BTC to continue playing with. Then lost that when MtGox went bust/hacked/stolen (whatever actually happened). My holdings are now worth 24kea, so that's easily 8 digits. I've a nice retirement package. can't count chickens before they're hatched of course - it could all disappear tomorrow, but I've already made my initial investment back 550%. So I am in front.
__________________
1998 DL LTD in Sparkling Burgundy, daily, mild 5.0L, high end stereo, slow'n'thirsty - 138.8rwkw. 2006 BF GT-P in Ego, 5.8L all alloy, Kenne Bell 2.8HLC, Nizpro Stage 2 ZF - 440rwkw. 2008 SY F6X in Silhouette, Ford Performance Club of ACT |
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#25 | |||
FF.Com.Au Hardcore
Join Date: Jun 2010
Location: Desert City
Posts: 2,326
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Quote:
My brother in law did exactly what you did. In 2011 he had a number of high power computers to do his video editing software and pirated movies. He got into mining them and he also got paid in BTC by some people for some work he did. He now holds 208 of them, a very tidy sum indeed.
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2017 Mustang GT (Magnetic) |
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#26 | ||
FF.Com.Au Hardcore
Join Date: Jun 2005
Posts: 3,633
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Seems to be a misnomer of a term it it's current, guise; i.e. its less a currency and more a pyramid scheme. Da monies seem to come from more people buying into it, not it's actual value as a reflection of anything in the real world.
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#27 | ||
FF.Com.Au Hardcore
Join Date: Apr 2012
Location: Taromeo
Posts: 10,448
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Sounds just like Profitclicking...
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#28 | ||
Donating Member
![]() Join Date: Feb 2006
Location: Roxby Downs, SA
Posts: 1,439
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I have zero real cash to speak of so I wouldnt be gambling any decent amount anyway. Will probably still give it a go. Even if it is only $100...
Sent from my SM-G935F using Tapatalk
__________________
ZG Fairlane 500 351 - First car - Now restoring! - LOOKING FOR ZG PARTS - BLACK AUTO CONSOLE - BLACK DASH PAD - BLACK SEAT BELTS (WITH THE METAL BUCKLES) - RIGHT REAR CHROME TRIM XF Falcon S Update EFI - SOLD EL2 XR8 - SOLD BF F6 RSPEC #139 - SOLD Now rocking the SZ Territory Titanium Petrol Family Beast |
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#30 | ||
GT-P With An Ego
![]() ![]() Join Date: Feb 2005
Location: Canberra
Posts: 20,563
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got to be in it to win it.
trading shares or forex is a gamble too, yet people make plenty of money from it. some of course lose too.
__________________
1998 DL LTD in Sparkling Burgundy, daily, mild 5.0L, high end stereo, slow'n'thirsty - 138.8rwkw. 2006 BF GT-P in Ego, 5.8L all alloy, Kenne Bell 2.8HLC, Nizpro Stage 2 ZF - 440rwkw. 2008 SY F6X in Silhouette, Ford Performance Club of ACT |
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