€100 of Bitcoin in 2010 = €70m today

All things Rugby
franch fan
Posts: 2849
Joined: Tue Jan 31, 2012 11:05 am

Re: €100 of Bitcoin in 2010 = €70m today

Post by franch fan »

TheBouncer wrote:
KHollywood10 wrote:Fellas,

I'm just about to graduate University and have managed to somehow be deserving of €500 from various sources (aunts, uncles etc). Always been interested in trading and I always had a demo account on plus 500 where I used to do pretty well (artificially anyway) from macro events. However, it's most definitely not my speciality (Political science and business strategy were my degrees). Reading this, however, has made me want to have a crack at it and since that €500 has come from nowhere I was thinking I may as well have a go. I have a job so it's not gonna break the bank and im prepared to lose it. Had a successful uncle who always said only invest if you are willing to lose it.

So, my question is.

Would buying €500 of Ethereum be a "solid/risky/just go for it son" investment?

If it goes well great, if not then ill survive (I've done it the last 4 years of college anyway on a pittance).

Also, it would be quite a good story saying your first investment was based off a rugby forum.

This was my mindset anyway. Studying the tech, developing a belief in it and throwing what I could afford to lose behind it. If the adoption is as strong as I suspect the upside will be enormous, if not I can live with it.

And it's a fun ride besides.. 180 yoyos down to 100 in a week and now back to 150 or so.
All thé cryptos have crashed last 2 days because of Coinbase crashing (one of the main sites where you can buy bitcoins)
User avatar
BlackMac
Posts: 7284
Joined: Tue Jan 31, 2012 11:05 am
Location: Middle of the Lothians

Re: €100 of Bitcoin in 2010 = €70m today

Post by BlackMac »

I do not understand any of this. :?
User avatar
TheBouncer
Posts: 6428
Joined: Tue Jan 31, 2012 11:05 am

Re: €100 of Bitcoin in 2010 = €70m today

Post by TheBouncer »

BlackMac wrote:I do not understand any of this. :?
The first major implementation of blockchain was in bitcoin. And so while bitcoin the currency is useful and interesting the far more important feature is the technology underlying it (ie. blockchain)

Blockchain allows for trustless, pier to pier transactions posting on a ledger that can not be changed. So if i send you a tenner there is no central party i need to trust to oversee that transaction because it will be lodged in the ledger (by computers validating the transaction) as a block... all of these transactions or blocks accumulate to form the chain of blocks and hence the name. These transactions can not be changed.

Potential use cases of this are endless and there's a whole lot more to it of course. Ethereum, the one we are on about, is a smart contract platform too.... smart contracts allow for execution of a transaction once certain criteria are met. So me giving you that tenner might be contingent on it hitting 30 degrees outside... the contract might have an oracle feeding it detail on the weather and execute the transaction once it's 30 degrees. Again, the point is that no trusted intermediary is required here.

The cryptocurrencies everyone is getting involved with have uses on these blockchains. Ether as an example is required as the fuel for transactions on the ethereum blockchain.

Hopefully that gives some background on it... someone smarter can give a better one.
User avatar
JM2K6
Posts: 37187
Joined: Tue Jan 31, 2012 11:05 am

Re: €100 of Bitcoin in 2010 = €70m today

Post by JM2K6 »

peer :)
User avatar
TheBouncer
Posts: 6428
Joined: Tue Jan 31, 2012 11:05 am

Re: €100 of Bitcoin in 2010 = €70m today

Post by TheBouncer »

:lol: there you go
User avatar
BlackMac
Posts: 7284
Joined: Tue Jan 31, 2012 11:05 am
Location: Middle of the Lothians

Re: €100 of Bitcoin in 2010 = €70m today

Post by BlackMac »

TheBouncer wrote:
BlackMac wrote:I do not understand any of this. :?
The first major implementation of blockchain was in bitcoin. And so while bitcoin the currency is useful and interesting the far more important feature is the technology underlying it (ie. blockchain)

Blockchain allows for trustless, pier to pier transactions posting on a ledger that can not be changed. So if i send you a tenner there is no central party i need to trust to oversee that transaction because it will be lodged in the ledger (by computers validating the transaction) as a block... all of these transactions or blocks accumulate to form the chain of blocks and hence the name. These transactions can not be changed.

Potential use cases of this are endless and there's a whole lot more to it of course. Ethereum, the one we are on about, is a smart contract platform too.... smart contracts allow for execution of a transaction once certain criteria are met. So me giving you that tenner might be contingent on it hitting 30 degrees outside... the contract might have an oracle feeding it detail on the weather and execute the transaction once it's 30 degrees. Again, the point is that no trusted intermediary is required here.

The cryptocurrencies everyone is getting involved with have uses on these blockchains. Ether as an example is required as the fuel for transactions on the ethereum blockchain.

Hopefully that gives some background on it... someone smarter can give a better one.
:lol: No, sorry, No further forward, which is a pity because I have always been willing to put a bit of money on a speculative punt. I just can't bring myself to invest in something I can't comprehend. Must be an age thing. :blush:
User avatar
sorCrer
Posts: 12885
Joined: Tue Jan 31, 2012 11:05 am

Re: €100 of Bitcoin in 2010 = €70m today

Post by sorCrer »

Salix wrote:
sorCrer wrote:
Salix wrote:Good time to buy ethereum? What about other digital currencies?
I'm spread across BTC, ETH, XRP and Lumens.
Do you expect XRP and lumens to rise much?
I'm more in favour of XRP as it has got some banking support in Asia and is a decent sized operation at around 120 employees. They seem prudent and can absolutely kill SWIFT with decent adoption.

I'm minute trading XRP for fun e.g yesterday I bought $1000 at 0.175 and sold it 4 hours later at 0.225 which is a pretty healthy profit for a few hours work. The balance I HODL ;)
le chat
Posts: 3777
Joined: Tue Jan 31, 2012 11:05 am

Re: €100 of Bitcoin in 2010 = €70m today

Post by le chat »

bought £10 worth of bitcoin in 2011, still got it somewhere
User avatar
englishchief
Posts: 2497
Joined: Sat May 06, 2017 9:18 pm

Re: €100 of Bitcoin in 2010 = €70m today

Post by englishchief »

le chat wrote:bought £10 worth of bitcoin in 2011, still got it somewhere
seriously? depending on the price you bought it at, that's at least £50,000
le chat
Posts: 3777
Joined: Tue Jan 31, 2012 11:05 am

Re: €100 of Bitcoin in 2010 = €70m today

Post by le chat »

englishchief wrote:
le chat wrote:bought £10 worth of bitcoin in 2011, still got it somewhere
seriously? depending on the price you bought it at, that's at least £50,000
is it? not worth the hassle then
User avatar
J Man
Posts: 5769
Joined: Tue Jan 31, 2012 11:05 am

Re: €100 of Bitcoin in 2010 = €70m today

Post by J Man »

Is this an IQ thing if I don't understand it? Will it be widespread in 20 years time and I'll be left behind?
jolindien
Posts: 6775
Joined: Tue Jan 31, 2012 11:05 am

Re: €100 of Bitcoin in 2010 = €70m today

Post by jolindien »

sorCrer wrote:
Salix wrote:
sorCrer wrote:
Salix wrote:Good time to buy ethereum? What about other digital currencies?
I'm spread across BTC, ETH, XRP and Lumens.
Do you expect XRP and lumens to rise much?
I'm more in favour of XRP as it has got some banking support in Asia and is a decent sized operation at around 120 employees. They seem prudent and can absolutely kill SWIFT with decent adoption.

I'm minute trading XRP for fun e.g yesterday I bought $1000 at 0.175 and sold it 4 hours later at 0.225 which is a pretty healthy profit for a few hours work. The balance I HODL ;)
what does that do in net ?
like isn't there a 10 % fee at buying xrp ? and what about the fees at selling and converting it back to $ somewhere ? and then what about eventual taxes ?
User avatar
CrazyIslander
Posts: 21113
Joined: Sun Sep 16, 2012 5:34 am

Re: €100 of Bitcoin in 2010 = €70m today

Post by CrazyIslander »

englishchief wrote:
le chat wrote:bought £10 worth of bitcoin in 2011, still got it somewhere
seriously? depending on the price you bought it at, that's at least £50,000
Or £7m according to the thread title.
Crash_12
Posts: 12909
Joined: Tue Jun 11, 2013 1:30 pm

Re: €100 of Bitcoin in 2010 = €70m today

Post by Crash_12 »

Would 100 gbp on Ethereum right here and now be a solid bet?
User avatar
Ted.
Posts: 19030
Joined: Tue Jan 31, 2012 11:05 am

Re: €100 of Bitcoin in 2010 = €70m today

Post by Ted. »

kiwinoz wrote:Bumped. For those thinking about timing the correction (I called :smug: ) has made now a good time to get in. Caveat emptor and all that ...
Firstly I knowe 5/8th of fudge all about this. How would one go about getting in on a wee toe dipping investment from NZ, say in Eth, given that the traders here are getting a hard time from the banks here over laundering and such like regs?
User avatar
Woeisme
Posts: 19
Joined: Wed Feb 01, 2012 6:21 am

Re: €100 of Bitcoin in 2010 = €70m today

Post by Woeisme »

Had a good few grand worth of bitcoin in 2013 bought in the $70/80 range. I sold for around $95 because of circumstances. A few months later it shot up to over a grand US.
User avatar
mr bungle
Posts: 13431
Joined: Tue Jan 31, 2012 11:05 am

Re: €100 of Bitcoin in 2010 = €70m today

Post by mr bungle »

Is that how you chose your username?
User avatar
kiwinoz
Posts: 6917
Joined: Tue Jan 31, 2012 11:05 am

Re: €100 of Bitcoin in 2010 = €70m today

Post by kiwinoz »

Ted. wrote:
kiwinoz wrote:Bumped. For those thinking about timing the correction (I called :smug: ) has made now a good time to get in. Caveat emptor and all that ...
Firstly I knowe 5/8th of f**k all about this. How would one go about getting in on a wee toe dipping investment from NZ, say in Eth, given that the traders here are getting a hard time from the banks here over laundering and such like regs?
Its a good question as in some respects exchanges (where you buy) and wallets (where you store) are a bit of a wild west still and trying to buy is easy (selling in your native currency ie NZD ) can be problematic. As an example Coinbase is one of the biggest exchanges for BTC & ETH yet can buy in AUS , but not sell back. Shit service and for the last 72 hours have not be able to transact. I have tried to get an Aussie set up but find it expensive to transact, over regulated and hard to tell who is legit and who isnt. I am moving most of my coins onto paper wallets (ie out of the "system") for this very reason.
User avatar
englishchief
Posts: 2497
Joined: Sat May 06, 2017 9:18 pm

Re: €100 of Bitcoin in 2010 = €70m today

Post by englishchief »

CrazyIslander wrote:
englishchief wrote:
le chat wrote:bought £10 worth of bitcoin in 2011, still got it somewhere
seriously? depending on the price you bought it at, that's at least £50,000
Or £7m according to the thread title.
or not, because that says 2010 and the price varied between $0.30 and $22 in 2011. If he bought at $22, it'd only be worth around $1000 now. If he bought at $0.40, that would be $50,000 now.
User avatar
sorCrer
Posts: 12885
Joined: Tue Jan 31, 2012 11:05 am

Re: €100 of Bitcoin in 2010 = €70m today

Post by sorCrer »

kiwinoz wrote: I am moving most of my coins onto paper wallets (ie out of the "system") for this very reason.
Another nice option.

https://www.ledgerwallet.com/products/ledger-nano-s

I've just ordered a couple
Salix
Posts: 375
Joined: Fri Aug 14, 2015 8:02 pm

Re: €100 of Bitcoin in 2010 = €70m today

Post by Salix »

sorCrer wrote:
Salix wrote:
sorCrer wrote:
Salix wrote:Good time to buy ethereum? What about other digital currencies?
I'm spread across BTC, ETH, XRP and Lumens.
Do you expect XRP and lumens to rise much?
I'm more in favour of XRP as it has got some banking support in Asia and is a decent sized operation at around 120 employees. They seem prudent and can absolutely kill SWIFT with decent adoption.

I'm minute trading XRP for fun e.g yesterday I bought $1000 at 0.175 and sold it 4 hours later at 0.225 which is a pretty healthy profit for a few hours work. The balance I HODL ;)
Where do you buy xrp?
ovalball
Posts: 13362
Joined: Tue Jan 31, 2012 11:05 am

Re: €100 of Bitcoin in 2010 = €70m today

Post by ovalball »

I've just got a couple of £k in dividends - Eth looks like an interesting place to invest it.

Anybody use Etoro to trade ?
User avatar
Cartman
Posts: 7999
Joined: Tue Jan 31, 2012 11:05 am

Re: €100 of Bitcoin in 2010 = €70m today

Post by Cartman »

ovalball wrote:I've just got a couple of £k in dividends - Eth looks like an interesting place to invest it.

Anybody use Etoro to trade ?
I used to use it just as a sideline
Made some nice beer money on crude
Had no problem getting paid out
User avatar
TheBouncer
Posts: 6428
Joined: Tue Jan 31, 2012 11:05 am

Re: €100 of Bitcoin in 2010 = €70m today

Post by TheBouncer »

Crash_12 wrote:Would 100 gbp on Ethereum right here and now be a solid bet?
Yes

Has anyone any factom? Will research this week but looks very interesting.
mikeyboy123
Posts: 650
Joined: Fri Feb 03, 2012 2:23 pm

Re: €100 of Bitcoin in 2010 = €70m today

Post by mikeyboy123 »

There's a website called bitpanda where you can buy bitcoin, eth, dash and litecoin. £100 to punt, which one?
mikeyboy123
Posts: 650
Joined: Fri Feb 03, 2012 2:23 pm

Re: €100 of Bitcoin in 2010 = €70m today

Post by mikeyboy123 »

mikeyboy123 wrote:There's a website called bitpanda where you can buy bitcoin, eth, dash and litecoin. £100 to punt, which one?
Any anyone used bitpanda? Legit?
User avatar
TheBouncer
Posts: 6428
Joined: Tue Jan 31, 2012 11:05 am

Re: €100 of Bitcoin in 2010 = €70m today

Post by TheBouncer »

mikeyboy123 wrote:There's a website called bitpanda where you can buy bitcoin, eth, dash and litecoin. £100 to punt, which one?
BP is quite expensive. And ETH is the answer.
mikeyboy123
Posts: 650
Joined: Fri Feb 03, 2012 2:23 pm

Re: €100 of Bitcoin in 2010 = €70m today

Post by mikeyboy123 »

Ok, ta.
User avatar
Ewinkum
Posts: 3135
Joined: Tue Jan 31, 2012 11:05 am

Re: €100 of Bitcoin in 2010 = €70m today

Post by Ewinkum »

TheBouncer wrote:
mikeyboy123 wrote:There's a website called bitpanda where you can buy bitcoin, eth, dash and litecoin. £100 to punt, which one?
BP is quite expensive. And ETH is the answer.
Is there a better option than BP then, for a novice I mean?
User avatar
TheBouncer
Posts: 6428
Joined: Tue Jan 31, 2012 11:05 am

Re: €100 of Bitcoin in 2010 = €70m today

Post by TheBouncer »

Ewinkum wrote:
TheBouncer wrote:
mikeyboy123 wrote:There's a website called bitpanda where you can buy bitcoin, eth, dash and litecoin. £100 to punt, which one?
BP is quite expensive. And ETH is the answer.
Is there a better option than BP then, for a novice I mean?
What currency are you trading? Coinbase and Kraken have been best by far for me.

Given the difficulties in verification I'd set up both, press them constantly for assistance, and load up on whichever comes first.
User avatar
Ewinkum
Posts: 3135
Joined: Tue Jan 31, 2012 11:05 am

Re: €100 of Bitcoin in 2010 = €70m today

Post by Ewinkum »

TheBouncer wrote:
Ewinkum wrote:
TheBouncer wrote:
mikeyboy123 wrote:There's a website called bitpanda where you can buy bitcoin, eth, dash and litecoin. £100 to punt, which one?
BP is quite expensive. And ETH is the answer.
Is there a better option than BP then, for a novice I mean?
What currency are you trading? Coinbase and Kraken have been best by far for me.

Given the difficulties in verification I'd set up both, press them constantly for assistance, and load up on whichever comes first.
Thanks. Can$ for me.
I'm going to have to educate myself a bit this week.
User avatar
RuggaBugga
Posts: 13074
Joined: Tue Jan 31, 2012 11:05 am

Re: €100 of Bitcoin in 2010 = €70m today

Post by RuggaBugga »

TheBouncer wrote:
Ewinkum wrote:
TheBouncer wrote:
mikeyboy123 wrote:There's a website called bitpanda where you can buy bitcoin, eth, dash and litecoin. £100 to punt, which one?
BP is quite expensive. And ETH is the answer.
Is there a better option than BP then, for a novice I mean?
What currency are you trading? Coinbase and Kraken have been best by far for me.

Given the difficulties in verification I'd set up both, press them constantly for assistance, and load up on whichever comes first.
Given I'm in NZ and kraken does not trade in NZD assume I would just be able to se up a foreign currency account and use that?
User avatar
TheBouncer
Posts: 6428
Joined: Tue Jan 31, 2012 11:05 am

Re: €100 of Bitcoin in 2010 = €70m today

Post by TheBouncer »

As I understand it NZD is a disaster for eth... either pay a premium or buy bitcoin and exchange that for eth on shapeshift, poloniex or another token transfer site. Note, the sites that avoid fiat like those I've mentioned are very user-friendly, no arduous verification process.

DO NOT LEAVE substantial amounts on these exchanges. If anyone needs help with cold storage post here.

TheBouncer wrote:
Crash_12 wrote:Would 100 gbp on Ethereum right here and now be a solid bet?
Yes

Has anyone any factom? Will research this week but looks very interesting.
Since this post last night factom is up 50%

:lol: :lol:

#cryptolife
User avatar
Uthikoloshe
Posts: 5490
Joined: Tue Jan 31, 2012 11:05 am
Location: The void

Re: €100 of Bitcoin in 2010 = €70m today

Post by Uthikoloshe »

So say I had this software on my machine and my hard drivce fails, I understand I loose everything. So would a raid array take care of this problem?
franch fan
Posts: 2849
Joined: Tue Jan 31, 2012 11:05 am

Re: €100 of Bitcoin in 2010 = €70m today

Post by franch fan »

If you want to invest at cryptos, invest in ETH and Stratis, probably the 2 most promising cryptos mid/long term.
User avatar
Cartman
Posts: 7999
Joined: Tue Jan 31, 2012 11:05 am

Re: €100 of Bitcoin in 2010 = €70m today

Post by Cartman »

Source, as a saffer where do you buy xrp and xlm?
Been waiting more than a week and counting to get verified on kraken
fudge that place
ovalball
Posts: 13362
Joined: Tue Jan 31, 2012 11:05 am

Re: €100 of Bitcoin in 2010 = €70m today

Post by ovalball »

Uthikoloshe wrote:So say I had this software on my machine and my hard drivce fails, I understand I loose everything. So would a raid array take care of this problem?
Can you not just back it up on an external drive ?
User avatar
sorCrer
Posts: 12885
Joined: Tue Jan 31, 2012 11:05 am

Re: €100 of Bitcoin in 2010 = €70m today

Post by sorCrer »

Cartman wrote:Source, as a saffer where do you buy xrp and xlm?
Been waiting more than a week and counting to get verified on kraken
f**k that place
Buy BTC on Luno and transfer to Kraken. I prefer Bitstamp for XRP but they don't trade XLM.
User avatar
sorCrer
Posts: 12885
Joined: Tue Jan 31, 2012 11:05 am

Re: €100 of Bitcoin in 2010 = €70m today

Post by sorCrer »

Uthikoloshe wrote:So say I had this software on my machine and my hard drivce fails, I understand I loose everything. So would a raid array take care of this problem?

You can store on paper if you want. Otherwise look at Nano S.
User avatar
sorCrer
Posts: 12885
Joined: Tue Jan 31, 2012 11:05 am

Re: €100 of Bitcoin in 2010 = €70m today

Post by sorCrer »

Bitcoin average DAILY value change:
2010: +0.82%
2011: +0.76%
2012: +0.26%
2013: +1.11%
2014: -0.25%
2015: +0.09%
2016: +0.22%
2017: +0.66%
Post Reply