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Paul

What do you think about cryptocurrencies?

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Do any of you guys own any cryptocurrencies? Either bitcoin, litecoin, or another alt-coin? It's got my attention lately since bitcoin has been up so much lately (nearing $12k/coin). It could be a bubble, or cryptocurrencies could be the future.

The one that has by interest lately is Stellar Lumens (XLM). (Full disclosure, I own some)

It seems like bitcoin, while sort of the "gold standard" of crypto has problems that some other cryptos like XLM don't: Slow networks, and expensive transaction fees and 3-5 second confirmations. I can see a lot of uses for irreversible, low-fee, near-instant transactions, particularly on the Internet.

What are your thoughts? Bubble or the future? What crypto's do you own, if any?

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In my humble opinion, I believe that cryptocurrencies will be the future of online payments.

On local payments and in person, their future is not yet clear, at least for me. Many debit card providers backed by crypto currencies stopped offering their services outside the European Union,  I had 2 prepaid bitcoin cards, which were cancelled. Also, in some countries (such as Colombia) the crypto currencies they are completely prohibited.

I had 1 BTC about a year ago that I got as payment for a job, when 1 BTC was still about $500. I regret spending it, today I had about $10K :( 

Although I like the world of cryptocurrencies and personally believe that revolutionize the way money is moved around the world, on the other hand, this caused the price increases and the shortage of video cards, which my gamer side regrets a lot. 

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Just now, Blesta Addons said:

wish site you bought  from ?

I bought LTC from coinbase, and use changelly to convert my LTC to XLM (They list as STR). Could have used an exchange like bittrex, but want to HODL longer term in my own wallet. Stellar went from rank 15 yesterday to rank 12 today in total market cap among all other cryptocurrencies. I don't know the future, but I think it may hit $1 usd by April. (I am not a financial advisor, if you invest in cryptocurrencies you are doing so at your own risk)

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1 minute ago, Paul said:

(I am not a financial advisor, if you invest in cryptocurrencies you are doing so at your own risk)

why not invest the blesta-addons revenue in it :P .

i have some friend that investing in exchange, they have profit but need a lot of time and observation, that i haven't so i decide just watching others making profit and feel happy for them :D

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3 minutes ago, Blesta Addons said:

why not invest the blesta-addons revenue in it :P .

i have some friend that investing in exchange, they have profit but need a lot of time and observation, that i haven't so i decide just watching others making profit and feel happy for them :D

That works too! :)

satoshipay.io teamed up with Stellar, and the concept looks interesting. They provide a way to accept payments on your website. This could be used for selling all kinds of things. Maybe the future of the Blesta marketplace? I don't know, but it looks promising, at least for micro transactions.

Anyway, part of the deal with Stellar is that Stellar is going to give 500 XLM to the first 100k satoshipay.io accounts. If you sign up for satoshipay.io (free to sign up), you might be able to get some for free (when they finally release them).

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2 minutes ago, Paul said:

That works too! :)

satoshipay.io teamed up with Stellar, and the concept looks interesting. They provide a way to accept payments on your website. This could be used for selling all kinds of things. Maybe the future of the Blesta marketplace? I don't know, but it looks promising, at least for micro transactions.

Anyway, part of the deal with Stellar is that Stellar is going to give 500 XLM to the first 100k satoshipay.io accounts. If you sign up for satoshipay.io (free to sign up), you might be able to get some for free (when they finally release them).

i will test, and why not a gateway for blesta :)

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1 minute ago, Blesta Addons said:

i will test, and why not a gateway for blesta :)

I am looking into it. Crypto payments remove the risk to sellers and coins like XLM settle fast, I think we'll see a big shift from fraud-prone credit cards to crypto online over the next 10 years.

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3 hours ago, Paul said:

I am looking into it. Crypto payments remove the risk to sellers and coins like XLM settle fast, I think we'll see a big shift from fraud-prone credit cards to crypto online over the next 10 years.

I hope so, my wallet cannot handle anymore "chargebacks" :(

 

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2 hours ago, Paul said:

Surely your fraud module helps prevent chargebacks?

it does, but I got tricked once recently to set it to review instead of reject and they paid through paypal and not but 10 days later in nov they charged backed not through paypal but there chinese card company and it cost me $100 plus paypal's $20 "chargeback" fee. which is why I have gotten tighter now telling anyone who asks sorry but if the fraud module blocked you I don't want you(well of course not saying it that direct but you get the gist) and that stopped all chargebacks before & it stopped them now, I feel dumb for even including a option in it to "review" orders instead of outright just rejecting them before they get to any gateway like paypal which would be the chargeback point which my fraud module stops that completely as they won't ever get to that point to start with if they get flagged by it in the default "reject" mode which prohibits chargeback's to start with since if they never get past the cart to complete the order with payment or get the service that prevents the chargeback's right there. I have never had chargeback's whatsoever with the default explicit "reject" mode set as the fraud module will explicitly reject anyone if they get flagged from even getting anywhere which is why it has saved me multiple times protecting me from that. I know that from both my piwik software & smartlook analytics. 

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Actually i have got some Litecoins, now the hard thing is to find exchangers. I do not invest a lot due to risk, so i have actually around $25 at Litecoin which is around 0.3 Litecoin. Now i cannot find any exchangers to convert it into bitcoin. Most of them have minimum limit to exchange for 0.7 Litecoin, or more.

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10 hours ago, Lampard said:

Actually i have got some Litecoins, now the hard thing is to find exchangers. I do not invest a lot due to risk, so i have actually around $25 at Litecoin which is around 0.3 Litecoin. Now i cannot find any exchangers to convert it into bitcoin. Most of them have minimum limit to exchange for 0.7 Litecoin, or more.

You can use changelly.com, or bring it into bittrex, or another exchange. I'd suggest changelly if you just want to convert it. Bitcoin is way up today, right now at $16,500 USD, and all other cryptocurrencies down as people consolidate to bitcoin due to futures trading. Could be an opportunity for altcoins like XLM :) (disclaimer again: I own some XLM)

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50 minutes ago, Paul said:

You can use changelly.com, or bring it into bittrex, or another exchange. I'd suggest changelly if you just want to convert it. Bitcoin is way up today, right now at $16,500 USD, and all other cryptocurrencies down as people consolidate to bitcoin due to futures trading. Could be an opportunity for altcoins like XLM :) (disclaimer again: I own some XLM)

Minimum allowed is 0.68630057 LTC

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1 hour ago, Lampard said:

Minimum allowed is 0.68630057 LTC

Ah. I think it's because the fees for transferring BTC are so high (Like $8 per transaction to send BTC on average). So, prolly not worth exchanging until you have some more. Should probably just hold onto your LTC for the moment, it seems to be doing pretty well.

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I think it is a bubble that will soon burst.

I was talking to an old friend of mine (she is into Bitcoin) and she wanted to know who my "up line" was...

A lot of her friends were into it too but it is like some MLM pyramid scheme. So these mums and others like them are helping to artificially boost the price. I say artificially as I can not see them staying with it.

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3 hours ago, BeZazz said:

I think it is a bubble that will soon burst.

I was talking to an old friend of mine (she is into Bitcoin) and she wanted to know who my "up line" was...

A lot of her friends were into it too but it is like some MLM pyramid scheme. So these mums and others like them are helping to artificially boost the price. I say artificially as I can not see them staying with it.

It definitely follows the pattern. Not sure how MLM pyramid comes into play with Bitcoin though, is she referring to an exchange? On one hand I strongly believe in blockchain and think it has great real world benefits, on the other hand the rapid rise is a big concern. There's a lot of short term volatility. Long term I think the market cap will continue to grow, especially as it begins to be integrated into daily life.

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4 hours ago, Paul said:

It definitely follows the pattern. Not sure how MLM pyramid comes into play with Bitcoin though, is she referring to an exchange? On one hand I strongly believe in blockchain and think it has great real world benefits, on the other hand the rapid rise is a big concern. There's a lot of short term volatility. Long term I think the market cap will continue to grow, especially as it begins to be integrated into daily life.

From what I can workout. You buy packages (which contain x amount of Bitcoin).

The people bellow you buy these packages off you. They then sell them to the people bellow them etc.

 

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