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  1. #21
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    back up your wallet
    Also I've lost coins due to online wallet providers evaporating. I didn't want to run a 10 different wallets for the various coins I mined so I onlined a few of them. Poof! Gone.
    To me accidental loss, eg Hard drive failure with no back up is also a risk with crypto coins.
    I also stored coins temporarily on a site associated with pooling the mining operations and then Poof , website gone.

    So the rewards need to be high to account for these extra risks.

    BTC has been on a bit of a roll recently,

  2. #22
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    There certainly are risks associated with BTC and Ethereum but that doesn't mean these risks are negatable.
    "To me accidental loss, eg Hard drive failure with no back up is also a risk with crypto coins." This isn't a risk caused by cryptocurrencies themselves this is due do individual carelessness.
    "
    I also stored coins temporarily on a site associated with pooling the mining operations and then Poof , website gone." This is very unlikely to happen to my primary Ethereum wallet Mist as it's designed and updated by the very people developing Ethereum. But I still take your point.

    I'm very jelous of your ability to mine, my PC is too outdated to make mining worth it and I have no other means of mining without purchasing new equipment

    "
    BTC has been on a bit of a roll recently" BTC's roll has primarily been driven by Chinese buying pressure of Bitcoin, unlike Ethereums which has been driven by new app development and radically increases in publicity and adoption.

    How much in NZD have you managed to mine with how much investment if you dont mind me asking for interests sake

  3. #23
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    Price now $21 usd
    82% increase in two and a half months.
    Next post will be at $30

  4. #24

  5. #25
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    Now sitting on $11, so a 27% loss in two and a half months.
    Luckily i managed to sell a fair amount at $21 before the implosion.
    Still believe in the tech

  6. #26
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    Hi guys I'm a clueless technophobe and i try to understand Bitcoin but out of my league forever re trying to mine etc. Im sure i must be wrong but i saw parts of a in-depth 2 part bit coin doco on AlJazerra that there are only ever 120 million bit coins that will exist. ; but that doesn't make sense if they are constantly being mined? Im int in preferably ASX companies involved in Bitcoin. So far I've found DCC thread for this started by Clip on S/T may be a few more out there . DCC website.

  7. #27

  8. #28
    Legend peat's Avatar
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    Quote Originally Posted by Joshuatree View Post
    Im sure i must be wrong but i saw parts of a in-depth 2 part bit coin doco on AlJazerra that there are only ever 120 million bit coins that will exist. ; but that doesn't make sense if they are constantly being mined? .
    Its correct that there is a finite amount of bitcoins that will ever exist - but they have to be mined first. There are not 120M of them yet.
    For clarity, nothing I say is advice....

  9. #29
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    Once again proving the point that no amount of money should ever be kept on exchanges. I feel for those who lost money in such a hack.

    Ether price update: $11.23
    - Meaning since the first post the price has gone up 82% and now has settled back at (almost) the buy in price.

    There has been so much drama around Ethereum in the last few months - Have still been increasing my holdings in the dips in price as I still whole-heartily believe in the technology.

  10. #30
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    What with part two of the AML law changes coming up, I'm curious about crypto-currencies.

    Does a Bitcoin transaction hold information about the parties to the transaction as well as the transaction itself?

  11. #31
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    Quote Originally Posted by GTM 3442 View Post
    What with part two of the AML law changes coming up, I'm curious about crypto-currencies.

    Does a Bitcoin transaction hold information about the parties to the transaction as well as the transaction itself?
    it must have at least the two wallet numbers that are providing/receiving the funds.
    but I doubt the blockchain (i.e. the ledger in old school accounting terms) contains any more information than that. No names and addresses I shouldn't think. Theoretically the owner of the wallet can be determined with enough effort, but practically that might be extremely difficult if not verging on the impossible.
    But I'm no expert .............
    Last edited by peat; 31-10-2016 at 02:39 PM.

  12. #32
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    This tech continues to outperform any stocks I hold. At first making this post eth price was $11, since then it's hit $20 twice, the second time resently. The price is currently dropping which is why I post. Currently at $17 dollars per Ether coin. The dapp's so they're called (decentralised apps) that ethereum is enableing are mind blowing.

    Here are some examples, remember these are decentralised so they can't be shut down and are completely un-hackable.

    "Digix" a company doing gold on the Blockchain, they sell tokens that represent 1g of gold these tokens can be transferd to anyone anywhere anytime and can be claimed by anyone who holds the tokens and has an address.

    "Augur" desentralised prediction market, similar to iPredict except the Nz laws will have no effect on our ability to use it. This dapp allows anyone to create a prediction market (ie a bet) where anyone can place a bet on anything they want.

    These are only two examples of countless different dapps that are coming to change the way we use internet. This technology is how the internet 3.0 is built.

    Edit: Please anyone who wants to understand more about how this stuff works feel free to message/post
    Last edited by Jinx; 09-03-2017 at 09:48 PM.

  13. #33
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    You must be loving the last few days activity Jinx. When will this tear stop???

  14. #34
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    Quote Originally Posted by heisenberg View Post
    You must be loving the last few days activity Jinx. When will this tear stop???
    For those interested when I posted last week the price was $17 now it's $47 lol. If only anyone here would take an interest they'd be making huge percentages!

    You're right though I am loving it. I think the this current run could get as high as $100 with a few retracements along the way but who really knows. Again anyone feel free to contact to discuss this tech.

  15. #35
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    Out of interest, who are you buying through? I have recently signed up with independentreserve and purchased a small amount. Price is skyrocketing though and most bids are getting left behind. I wouldn't mind buying more but might just wait for this heat to die down!
    Last edited by heisenberg; 17-03-2017 at 03:23 PM.

  16. #36
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    Quote Originally Posted by heisenberg View Post
    Out of interest, who are you buying through? I have recently signed up with independentreserve and purchased a small amount. Price is skyrocketing though and most bids are getting left behind. I wouldn't mind buying more but might just wait for this heat to die down!
    Price now stabilising at ~$40 usd, I've just used localbitcoin.com and done a regular amount every day/week/month. If looking to do one big deposit it's tricker as most people on localbitcoin have max of 10k. A mate of mine used cex.io, you'll be paying like 10% over spot though. Currently NZ policies are backwards and mean this innovation is tricky, I'm currently finishing my policy degree then will be trying to fix NZ legislation around decentralised tech. This stuff is used by anyone anywhere whenever they want, may as well accept people are doing it and let internet 3.0 become a reality.

  17. #37
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    Bit of a retrace today so will be hoping to grab some when the price settles.

    I'm all on board for a policy change Jinx!

  18. #38
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    Since then we've bumped up to $50 usd per Ether.

    This tech is coming and the returns investors can make here is obscene. Even if it's 1% of your portfolio its worth doing.

  19. #39
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    For anyone interested in this technology there is a blockchain conference coming up in New Zealand. I'd highly recommend everyone invested/interested to consider attending as it has the 'who's who' of blockchain tech attending.

    http://www.theblockchain.nz/

  20. #40
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    "$11.5 usd" This was the price of each Eth when i first posted. Now they are at $80 usd each. That's almost a 7x ROI and Ethereum isn't done yet, I'm almost entirely sure Ethereum is going to be the internet 3.0. Please post any questions anyone has

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