Cryptocurrencies

holding some BTC, now some free BCH from holding BTC.
probably smart to convert some of it to ethereum (ETH) and zcash (ZEC).

this is highly speculative stuff.
in my mind it has nothing to do with the soul of the mustache.
it’s an anarchist’s wet dream on it’s way to being appropriated by corporations.
it will probably end-up losing all it’s value if tech/bank/payment companies have anything to say about it.
for now the music is still playing, so dance if you like the party :wink:

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I like the party :man_dancing:, but i think the same - it will change for sure, but it won’t go away. It works too well and brings unrivalled global automation to the finance sector.

I don’t know if Pete Adeney wouldn’t try to invest in crypto today (not necessary for him anymore anyway) - as a software engineer he would for sure see potential in the technology or the core concept.

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I ordered a Ledger Nano but I haven’t gotten it yet. I’ll let you know how I like it when I do.

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Cool I have been looking at that one too (and the Trezor). With my current *coin holdings it does not make that much sense to have a hardware wallet (jet).

If you want a mostly secure cold storage wallet on the cheap you could also try paper-wallets (generated on an air-gapped live system). However with the high transaction cost of BTC paper wallets are not that cheap anymore as you always have to use them as a whole.

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Anyone also occupied with reviewing and investing in ICO’s?

I like
https://rivetzintl.com
https://hubii.network
https://tge.powerledger.io

There is an interesting one that tries to bridge crypto with the classic investment space

Iconomi is over, but they also have an interesting approach. You can actually create your own “Digital Asset Array” (fancy word for portfolio) and others can buy into it and you get some return. Think if the experienced Mustachians could create something and others could just join :grin:, definitely something i would do for the non-crypto space.

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Just be really careful with these “Tokens” which are mostly “disneybucks”. It also would kind of defeat the purpose of the cryptocurencies a little if you put a company or whatever between you and it, and if the f*ck up, which they are historically prone to do, your money is just gone.

If I wanted to invest into crypto again I would probably just get a hardware wallet (Trezor or Ledger nano, the screen is important) and hold them myself.

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@chestwood96 yeah, there are a huge amount of ico’s and you can definitely loose out. But the nice thing is you can invest small sums in companies alongside with big VC-Investors. I do it to diversify my gains in cryptocurrencies, so far i was lucky (i only invest in concepts i would use for myself).

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http://money.visualcapitalist.com/all-of-the-worlds-money-and-markets-in-one-visualization/

Interesting Visualisation of Money and Markets. Bitcoin (Cryptocurrences) are now about 150 Billions, but still so small compared to others.

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Which exchange are you guys currently using?

I mostly got my crypto with mining and the last exchange I used ran away wit 50k dogecoin.

Sorry to hear about that. I’m using Kraken. I was going to use GDAX, but their account creation process was so broken I gave up (Kraken was a pleasure to follow, in contrast). In any case, I immediately transfer all my crypto-currency out to my paper wallet, to minimize changes for something like that to happen.

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I primarily use Bitstamp, but also Kraken, Bittrex and a few others for specific currencies. I’ll be moving most of my coins off of exchanges as soon as I get my Ledger.

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I am definitely not going to keep too much on exchanges. My trezor should arrive tomorrow.

May I ask why you chose Bitstamp over Kraken or others?

My current plan is to send EUR from IB to the exchange since SEPA seems to be the only cheap way to get money on those (or off for that matter).

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A friend was already using Bitstamp and recommended it to me. They were also faster in verifying my account. I also opened a Kraken account and sent some money there, but it doesn’t seem to work very well (web site is confusing, slow and often gives errors while placing orders). Bitstamp does have fewer coins, though, but at least it has the most important ones (BTC, LTC and ETH).

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@chestwood96 i used kraken foremost because you can make a cheap payment with sepa. But they are overrun at the moment and very slow. It sucks to trade there. But as a gateway from fiat to crypto they are alright.
For trading i use bittrex, they have a lot of currency-pairs and from what i hear are one the most secure ones.

@alex any news about your nano ledger? need one myself soon.

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I got mine last week and I like it so far. The fact that it only has two buttons is not as annoying as I thought it would be, most of the on-device interactions are quite simple. The ethereum chrome app is really simple, you can basically only send and receive ETH and see your balance, but I don’t really need much else. The bitcoin app has a few more options. I haven’t tried to use the ledger with Electrum, but it’s supposed to work.

Now that I have a HW wallet, I find that I’ve become more paranoid about security. Now I’m worried that someone may have hacked my computer and could see anything I see or type in, that someone will break in, steal my ledger and force me to give up the pin code, or that my house will burn down. Get one at your own peril. :stuck_out_tongue:

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Trezor has a solution for both of those XD.

It seems to work OK at the moment.

Obviously with my luck my fiat arrived at kraken like a couple of hours after everything mostly recovered from the china drop.

What’s Trezor’s solution to my irrational paranoia?

Plausible deniability and a randomized keypad which help against forced pin entry and compromised systems respectively. It however can not help much with the burning house.

The ledger also has those features, but you still have to write down your seed words and PINs somewhere, in case you forget or you’re no longer around…

In Switzerland you have brokers like bity. Once they receive the payment it takes about 1 hour to receive your coins. I would stay away from Kraken and only use regulated exchange. In Europe the only one is Bitstamp but there will be a Swiss one soon as I’ve heard. Also if you go with Bitstamp, be ready for some tough KYC/AML, they will want to know where the fiat/bitcoins come from and you will need to provide screenshots.

I strongly believe Bitcoin will become the digital gold and real gold will lose a lot of its value over time.

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