I’ve been an investor, miner and advocate for all forms of cryptocurrency for some time now, but only a small percentage of my transactions have been around actual use, as opposed to investment or transfers. It occurred to me that if I am to fulfill my self-proclaimed role of cryptocurrency evangelist, I’ve got to up my game in terms of spend and adoption.
Those of you who follow my blog already know that I have taken Bitcoin directly as a retailer using Bitpay, but I always found it cumbersome and clunky at point of sale. Now, as a consumer, finding places that take it directly Continue reading “Well hello, Wirex.”
So, yesterday (7th August) I saw the markets take a real beating, apparently after the SEC, as expected, delayed the decision on the latest ETF application. It seems there is a real difference between expectation and the real thing happening! It seemed an over reaction to me, but I was quite happy as I hoovered up some cheap crypto to add to my portfolio, mainly EOS and XRP.
Except it wasn’t that cheap was it? Within 24 hours, another wave of sell offs forced all prices down further and huge, scary, bright red double digit losses ran across all my screens like blood running from a butchered body. One by one, my open positions (of which I currently have some 56) started to give up their green fonts and I watched as my overall profit positions retreated further and further, literally by the second. Continue reading “Market crash, you say?”
Home and small operation mining has very much fallen from favour since the crazy days of December 2017 and Bitcoin mining from home became all but impossible a few years ago, so what is left?
Even since I wrote the article “Is it still worth mining?” just three weeks ago, things have changed again. GPU prices continue to fall, AMD have announced an expected continued fall in card demand in their latest earnings call and many miners have decided to call it quits flooding the market with cheap second hand cards, adding to the woes. With prices down, huge players continuously entering the market and controlling the hash rate and difficulty level, is there any hope at all for the small operation or hobbyist miner? Continue reading “A ray of hope for small miners?”
I, like many others, often liken the nascent cryptocurrency market to the early days of the internet and I do, sincerely, believe that it is both fair and real comparison, although I ultimately believe that the impact on human lives across the globe will be far greater this time round.
However, I had forgotten about another equally valid comparison until I was reminded of it whilst dealing with Gumtree on an issue to do with accepting cryptocurrencies for an ad I’d placed. In short, my ads had been taken down because I wanted to accept payment in Bitcoin or Litecoin rather than cash, Continue reading “Crypto 2018 = Mobile Phones 1991”
This is a follow up story – you might want to read the original article first here
So, just I felt that my calls to Gumtree to see reason over allowing ad posters like myself to accept cryptocurrency were falling on deaf ears, I received a response from yet another customer ‘assistant’ seeking to clarify Gumtree’s position, with the usual poor grammar and rather dodgy sentence construction:
Continue reading “I am the Gumtree Cryptocurrency Felon – Part II”
Ever since I started investing in the crypto space, I’ve always had a bit of a soft spot for Litecoin. It started as a sort of hunch, much like you might get for a favourite number in roulette or a horse name that strikes you when searching for a Grand National bet, but once I started looking it in great detail, I found it was one I really liked. Alot.
You see, Bitcoin is great, but even early on it was pretty obvious to me that it was no good for small, everyday purchases – and let’s not forget I was actually speaking from proper, first hand experience. Before selling the last of three internet cafes and games zones that I owned, I had offered Bitcoin as a means of payment. It was only ever used a handful of times via Bitpay, but it was expensive and awkward to use and, to be honest, the people who used it were doing so because it was a new and exciting thing, not because it was more convenient. In the boom of December 2017, Continue reading “Why I’m betting on Litecoin”
Masternode coins, of which are there are some 360 now, are notoriously risky. You have to be part crazy, really smart or really stupid (depending on your point of view), prone to a bit of luck and particularly thick skinned to even think about getting involved here. This is a festering, animated swamp of creative genius, scam artists, dodgy characters, devout believers and innocent investors in a dangerous, unregulated mess. It’s daunting, easy to get caught out or taken for a ride, and notoriously hard to make money. BUT, if you can pick one winner, it can make up for dozens of losses. That, I guess, is the lure.
This is the story of our early endeavours into this market, the mistakes we made and the noticeable difference in thinking between generations that, in the end, shaped our strategy. My hope, in making public my embarrassing initial failures, is that it may help others who dare to walk the same path.
Continue reading “Investing in Masternodes? Read this!”