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June 24 2021 7.52pm

Bitcoin

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View Badger11's Profile Badger11 Flag Beckenham 14 Jan 21 8.38am Send a Private Message to Badger11 Add Badger11 as a friend

The EU are now having a go how long before they get it banned some how.

Interestingly Paypal now accepts Bitcoin I didn't know that is should increase liquidity.

[Link]

One of the reader comments at the bottom made me laugh. Never mind Bitcoin the real money of the future is canned goods.

 


One more point

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View BlueJay's Profile BlueJay Flag UK 14 Jan 21 5.12pm Send a Private Message to BlueJay Add BlueJay as a friend

Originally posted by SW19 CPFC

There's another article about the welsh guy that threw out his hard drive in 2013 with all his bitcoin on it. The amusing thing is he'd put the hard drive in a drawer to save it, then forgotten what it had on it and threw it out some time later.

Would now be worth around the same amount (£200m). Apparently it's in a landfill in wales. He even went back there a few months later when he realised what he'd done to try and find it. The workers said you can try, but it'll be buried a few metres deep by now. I think at that point he gave up – I'm not sure how you can make peace with that sort of error but sounds like he has!

'In 2013, Welsh IT worker James Howells accidentally threw out a hard drive containing the keys to 7,500 bitcoins. At the time, the lost bitcoins were worth about £4m. Now, they would be worth more than 0m.'

An update. The poor bloke must fall to sleep thinking about this every night!

Bitcoin: Newport man's plea to find £210m hard drive in tip - [Link]

Or it might be the article though read anyway but is an interesting read for others!


Edited by BlueJay (14 Jan 2021 5.14pm)

 

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View Tom-the-eagle's Profile Tom-the-eagle Flag Croydon 17 Jan 21 11.30pm Send a Private Message to Tom-the-eagle Add Tom-the-eagle as a friend

Chinese crypto

[Link]

 


"It feels much better than it ever did, much more sensitive." John Wayne Bobbit

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View BlueJay's Profile BlueJay Flag UK 17 Jan 21 11.37pm Send a Private Message to BlueJay Add BlueJay as a friend

Originally posted by Badger11

The EU are now having a go how long before they get it banned some how.

Interestingly Paypal now accepts Bitcoin I didn't know that is should increase liquidity.

[Link]

One of the reader comments at the bottom made me laugh. Never mind Bitcoin the real money of the future is canned goods.

It does make you wonder what will happen if Bitcoin gets 'too big'. Governments have the habit of crushing anything that they view as against their interests or out of their control. Unless they embrace it? It is 'semi' anonymous isn't it though, so maybe that offers a degree of protection against the moves of any nation.


 

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View SW19 CPFC's Profile SW19 CPFC Flag Addiscombe West 18 Jan 21 12.52am Send a Private Message to SW19 CPFC Add SW19 CPFC as a friend

Originally posted by BlueJay

It does make you wonder what will happen if Bitcoin gets 'too big'. Governments have the habit of crushing anything that they view as against their interests or out of their control. Unless they embrace it? It is 'semi' anonymous isn't it though, so maybe that offers a degree of protection against the moves of any nation.


I can see it being regulated out of useful existence.

Read this today re. BTC (and therefore all crypto) price jumps and dips over the years - fascinating. Essentially shows a correlation between ‘printing’ of another ‘coin’, Tether, and the value of BTC. Tether made its name as a stablecoin, backed 1:1 with the USD. Turns out that was garbage and it’s most likely going to be dissolved due to an ongoing legal investigation into fraud, laundering and god knows what else.

There are other factors that affect BTC price but the correlations between tether printing and spikes in value are alarming.

[Link]

 


said the rabid giraffe whilst brandishing his throbbing member of reason, and twas ever thus.

Did you know? 95% of people are morons.

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View BlueJay's Profile BlueJay Flag UK 18 Jan 21 1.13am Send a Private Message to BlueJay Add BlueJay as a friend

Originally posted by SW19 CPFC

I can see it being regulated out of useful existence.

Read this today re. BTC (and therefore all crypto) price jumps and dips over the years - fascinating. Essentially shows a correlation between ‘printing’ of another ‘coin’, Tether, and the value of BTC. Tether made its name as a stablecoin, backed 1:1 with the USD. Turns out that was garbage and it’s most likely going to be dissolved due to an ongoing legal investigation into fraud, laundering and god knows what else.

There are other factors that affect BTC price but the correlations between tether printing and spikes in value are alarming.

[Link]

Interesting read, and the possible BTC link. You've love what their 100% backed claim changed to!

Yes there has always been a bit of a 'too good to be true' aspect to Bitcoin from my perspective. That said, I lost out due to perceiving it that way, when really it could've perhaps been seen as something of an opportunity and a wild ride. It has made me less hesitant to 'get involved' in opportunities because clearly whatever Bitcoin's future many believed in it, made a killing and for now continue to do so.

I do get the feeling though that if it's 'too successful' it may bring about enough changes in law to end up becoming the victim of its own success. If it continues to fly high, what level it get to before such a future does come about though is anyones guess!

Edited by BlueJay (18 Jan 2021 1.13am)

 

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View davenotamonkey's Profile davenotamonkey Flag 18 Jan 21 1.41am Send a Private Message to davenotamonkey Add davenotamonkey as a friend

Originally posted by Stirlingsays

I'm hearing that the Bitcoin crash of a few days ago was a coordinated dump by all the large Bitcoin holders....or whales as they are called.

The principle aim being to panic the market into getting out of Bitcoin and lowering the price significantly.....at some point they want they all start buying up the bitcoin and it slowly recovers back.

I fell for it myself and ended up transferring to Ethereum where I'm holding steady.

If that's all true it's a bit of a rookie's mistake on my behalf to fall for that, which no doubt will net these millionaires more money....I guess I have to learn this stuff and wise up.

But there's quite a lot to it.

Edited by Stirlingsays (13 Jan 2021 3.29pm)

No it's not. ETH has a future, BTC doesn't.

 

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View Palace Old Geezer's Profile Palace Old Geezer Flag Midhurst 17 Feb 21 9.32am Send a Private Message to Palace Old Geezer Add Palace Old Geezer as a friend

Reported today to have passed the $50k mark. So, is that 1 Bitcoin?

As someone who remembers getting a Farthing as change, but who, nevertheless builds crazy, high end gaming computers I don't get it.

How can you use a Bitcoin if you need to pop down the road for a pint of milk and a loaf of bread?

And people refer to Monopoly notes as Funny Money. Crazy.

 


Dad and I watched games standing on the muddy slope of the Holmesdale Road end. He cheered and I rattled.

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View davenotamonkey's Profile davenotamonkey Flag 21 Feb 21 1.20pm Send a Private Message to davenotamonkey Add davenotamonkey as a friend

Originally posted by Palace Old Geezer

Reported today to have passed the k mark. So, is that 1 Bitcoin?

As someone who remembers getting a Farthing as change, but who, nevertheless builds crazy, high end gaming computers I don't get it.

How can you use a Bitcoin if you need to pop down the road for a pint of milk and a loaf of bread?

And people refer to Monopoly notes as Funny Money. Crazy.

I guess you could use obscure providers like this to pay for your pint of milk and loaf of bread?

[Link]

Meanwhile, how's your savings doing? 2% AER if you're really lucky?


crypto_rates.png Attachment: crypto_rates.png (138.53Kb)

 

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View cryrst's Profile cryrst Flag Chatham 21 Feb 21 5.11pm Send a Private Message to cryrst Add cryrst as a friend

Originally posted by davenotamonkey

I guess you could use obscure providers like this to pay for your pint of milk and loaf of bread?

[Link]

Meanwhile, how's your savings doing? 2% AER if you're really lucky?


Its rising like billyo but could fall as quickly.
Companies accepting it as payment will then cash it in to balance their books. Maybe the reason it is so high generally is because not many are actually using it. Once they do it could drop drastically.

 

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View Stirlingsays's Profile Stirlingsays Flag 21 Feb 21 5.14pm Send a Private Message to Stirlingsays Holmesdale Online Elite Member Add Stirlingsays as a friend

Originally posted by davenotamonkey

No it's not. ETH has a future, BTC doesn't.

Always interested in views about crypto.

Currently stacked up in Eth.

 


'Who are you and how did you get in here? I'm a locksmith. And, I'm a locksmith.' (Leslie Nielsen)

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View Palace Old Geezer's Profile Palace Old Geezer Flag Midhurst 21 Feb 21 6.53pm Send a Private Message to Palace Old Geezer Add Palace Old Geezer as a friend

Originally posted by davenotamonkey

I guess you could use obscure providers like this to pay for your pint of milk and loaf of bread?

[Link]

Meanwhile, how's your savings doing? 2% AER if you're really lucky?


Certainly looks attractive. The way it's increased in value is phenomenal, but as cryst says, it could easily bottom out.

And, as for my savings, I'd be delighted with 2% interest. But, I'm a cautious old git who's only just started swiping his card during all this lockdown nonsense, so I don't think I'll be taking any chances with my nest egg just yet.

I'm fascinated though.


 

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