Bit coins????

135

Comments

  • Bitcoins are killing the planet! So does this mean as they get closer to the 21m total they get more energy intensive to "mine"....?? Who pays the leccy bill??! Wish the world would go back to bartering ha ha....

    https://www.express.co.uk/finance/city/ ... ent-energy
  • rick_chasey
    rick_chasey Posts: 71,552
    Also, you watch RT, as in, Russia today?
  • Chances are you would have used Mt Gox and had it nicked had you bought it then.

    That is very true indeed..... at least we've halved the mortgage term from 22 to 11 yrs and a safer bet in the end...:D :D:D
  • rick_chasey
    rick_chasey Posts: 71,552
    Chances are you would have used Mt Gox and had it nicked had you bought it then.

    That is very true indeed..... at least we've halved the mortgage term from 22 to 11 yrs and a safer bet in the end...:D :D:D

    You sold them?
  • Also, you watch RT, as in, Russia today?
    Err... yeah.....good documentaries, Sputnik with George Galloway, Keiser Report, Watching The Hawks, Boom Bust, etc... actual news and without the anti Russia propaganda spouted by BBC, C4 etc It's good to watch the news on both RT and then the rest, which are all the same anyway. Only channel I've ever seen report on the Bilderberg Group.....No wonder they're demonised so much....who gives a toss about Harrys wedding on MSM.... :lol::lol::lol:
  • Chances are you would have used Mt Gox and had it nicked had you bought it then.

    That is very true indeed..... at least we've halved the mortgage term from 22 to 11 yrs and a safer bet in the end...:D :D:D

    You sold them?

    ??? Never bought them? Overpaid the mortgage... 3 yrs to go and counting lol
  • rick_chasey
    rick_chasey Posts: 71,552
    You're a bot too.

    Christ.
  • Matthewfalle
    Matthewfalle Posts: 17,380
    You're a bot too.

    Christ.

    Seen what you mean. Blimey.

    As an aside, how do you use Bitcoin? Can you spend it? I presume Chain Reaction Cycles won't accept it in payment for 4 Lifeline inner tubes and a pair of discounted gloves?

    Or is it investment only?
    Postby team47b » Sun Jun 28, 2015 11:53 am

    De Sisti wrote:
    This is one of the silliest threads I've come across. :lol:

    Recognition at last Matthew, well done!, a justified honour :D
    smithy21 wrote:

    He's right you know.
  • ballysmate
    ballysmate Posts: 15,916
    I recently received an email from someone telling me that they had hacked my computer including web cam and had split screen footage of me watching porn. They had also harvested my address book. I could prevent them from distributing said video to all my contacts by depositing $360 worth of Bitcoin in their account.
    I assume Bitcoin transactions to be harder to trace.
  • rick_chasey
    rick_chasey Posts: 71,552
    Yeah, is a currency that was originally only really used by criminals.
  • Alex99
    Alex99 Posts: 1,407
    You're a bot too.

    Christ.

    Seen what you mean. Blimey.

    As an aside, how do you use Bitcoin? Can you spend it? I presume Chain Reaction Cycles won't accept it in payment for 4 Lifeline inner tubes and a pair of discounted gloves?

    Or is it investment only?

    There is a website that tracks where you can spend bitcoin. An example, here is a list of pubs in the UK that accept bitcoin:
    https://www.wheretospendbitcoins.co.uk/ ... estaurants

    You find bitcoin ATMs in quite a few places too. They have one in Coventry.

    You can use bitcoin to get gift cards for several major stores:
    http://www.ibtimes.co.uk/bitcoin-now-ac ... ce-1588336
  • pblakeney
    pblakeney Posts: 25,214
    Once Joe Bloggs on the street has heard about a "boom" then it is usually too late.
    Just saying...
    The above may be fact, or fiction, I may be serious, I may be jesting.
    I am not sure. You have no chance.
    Veronese68 wrote:
    PB is the most sensible person on here.
  • haydenm
    haydenm Posts: 2,997
    PBlakeney wrote:
    Once Joe Bloggs on the street has heard about a "boom" then it is usually too late.
    Just saying...

    I agree but if you had invested when everyone first started talking about it (October/November?) you would have seen a fair amount of uplift
  • pblakeney
    pblakeney Posts: 25,214
    HaydenM wrote:
    PBlakeney wrote:
    Once Joe Bloggs on the street has heard about a "boom" then it is usually too late.
    Just saying...

    I agree but if you had invested when everyone first started talking about it (October/November?) you would have seen a fair amount of uplift
    Yes, but not as much as the guy I knew who was banging on about them in 2013.
    The above may be fact, or fiction, I may be serious, I may be jesting.
    I am not sure. You have no chance.
    Veronese68 wrote:
    PB is the most sensible person on here.
  • Matthewfalle
    Matthewfalle Posts: 17,380
    edited December 2017
    Alex99 wrote:
    You're a bot too.

    Christ.

    Seen what you mean. Blimey.

    As an aside, how do you use Bitcoin? Can you spend it? I presume Chain Reaction Cycles won't accept it in payment for 4 Lifeline inner tubes and a pair of discounted gloves?

    Or is it investment only?

    There is a website that tracks where you can spend bitcoin. An example, here is a list of pubs in the UK that accept bitcoin:
    https://www.wheretospendbitcoins.co.uk/ ... estaurants

    You find bitcoin ATMs in quite a few places too. They have one in Coventry.

    You can use bitcoin to get gift cards for several major stores:
    http://www.ibtimes.co.uk/bitcoin-now-ac ... ce-1588336

    Cool - cheers dude.

    But how does that work - I’m assuming that you have a bitcoin card that works like a credit card but as the value of bitcoin is (I presume) constantly fluctuating, how do you price stuff.
    Postby team47b » Sun Jun 28, 2015 11:53 am

    De Sisti wrote:
    This is one of the silliest threads I've come across. :lol:

    Recognition at last Matthew, well done!, a justified honour :D
    smithy21 wrote:

    He's right you know.
  • rick_chasey
    rick_chasey Posts: 71,552
    PBlakeney wrote:
    HaydenM wrote:
    PBlakeney wrote:
    Once Joe Bloggs on the street has heard about a "boom" then it is usually too late.
    Just saying...

    I agree but if you had invested when everyone first started talking about it (October/November?) you would have seen a fair amount of uplift
    Yes, but not as much as the guy I knew who was banging on about them in 2013.

    Did he have his money nicked?
  • rick_chasey
    rick_chasey Posts: 71,552
    https://twitter.com/TheBrianMerwin/stat ... 8698782721

    The price of bitcoins are so different depending on which exchange you decide to use.

    Massive differences. It's a waste of everyone's time and energy.
  • pblakeney
    pblakeney Posts: 25,214
    PBlakeney wrote:
    HaydenM wrote:
    PBlakeney wrote:
    Once Joe Bloggs on the street has heard about a "boom" then it is usually too late.
    Just saying...

    I agree but if you had invested when everyone first started talking about it (October/November?) you would have seen a fair amount of uplift
    Yes, but not as much as the guy I knew who was banging on about them in 2013.

    Did he have his money nicked?
    "Knew", past tense. Couldn't say.
    He could be a millionaire for all I know. Or penniless. But he was in early, very early.
    The above may be fact, or fiction, I may be serious, I may be jesting.
    I am not sure. You have no chance.
    Veronese68 wrote:
    PB is the most sensible person on here.
  • rick_chasey
    rick_chasey Posts: 71,552
    I'd wager he either had it nicked or cant get it out.
  • Matthewfalle
    Matthewfalle Posts: 17,380


    The price of bitcoins are so different depending on which exchange you decide to use.

    Massive differences. It's a waste of everyone's time and energy.

    So how do the pubs etc set prices using them?
    Postby team47b » Sun Jun 28, 2015 11:53 am

    De Sisti wrote:
    This is one of the silliest threads I've come across. :lol:

    Recognition at last Matthew, well done!, a justified honour :D
    smithy21 wrote:

    He's right you know.
  • rick_chasey
    rick_chasey Posts: 71,552


    The price of bitcoins are so different depending on which exchange you decide to use.

    Massive differences. It's a waste of everyone's time and energy.

    So how do the pubs etc set prices using them?

    An excellent question.

    https://www.economist.com/blogs/buttonw ... ugh-tulips
    SCENE: A pet shop with a bored looking proprietor. A customer approaches

    CUSTOMER: I’d like to buy a parrot.

    OWNER: Certainly, sir. How about this one? It’s a Norwegian Blue. Beautiful plumage.

    CUSTOMER: It’s not moving much

    OWNER: It is tired and shagged out after a long squawk

    CUSTOMER: Fair enough. How much is it?

    OWNER: $20,000

    CUSTOMER: I’ll pay with this Bitcoin

    OWNER: Sorry, sir. On WavesDEX, the Bitcoin is only worth $13,500

    CUSTOMER: But on LocalBitcoins, it is over $21,500! Look at the news headlines.

    OWNER: Sorry, sir, but I can’t afford the risk. My rent, heat and light are all payable in dollars.

    CUSTOMER: But the dollar has ceased to be, it has shuffled off this mortal coil, it is an ex-currency

    OWNER: So you say, sir. But at least it's a reliable means of exchange. It doesn’t move much from minute to minute

    CUSTOMER: Like this parrot
  • Matthewfalle
    Matthewfalle Posts: 17,380
    Thank you!

    Think I’ll stick to beads, glassware and painted stones, together with a bit of haggling at Edwyns’.
    Postby team47b » Sun Jun 28, 2015 11:53 am

    De Sisti wrote:
    This is one of the silliest threads I've come across. :lol:

    Recognition at last Matthew, well done!, a justified honour :D
    smithy21 wrote:

    He's right you know.
  • Jez mon
    Jez mon Posts: 3,809


    The price of bitcoins are so different depending on which exchange you decide to use.

    Massive differences. It's a waste of everyone's time and energy.

    That does sound like someone who has put in as little effort as possible into buying into Bitcoin, with no intention of actually using it/making money.

    Basically he should have just used them to buy some pills and had a good weekend!
    You live and learn. At any rate, you live
  • haydenm
    haydenm Posts: 2,997
    PBlakeney wrote:
    HaydenM wrote:
    PBlakeney wrote:
    Once Joe Bloggs on the street has heard about a "boom" then it is usually too late.
    Just saying...

    I agree but if you had invested when everyone first started talking about it (October/November?) you would have seen a fair amount of uplift
    Yes, but not as much as the guy I knew who was banging on about them in 2013.

    In round figures,
    Feb 2014= £380, Feb 2017= £830 (115%)
    Oct 2017= £3501, Now= £14,790 (322%)

    I'd have been chuffed either way to be honest, my worry would be that the few Joe Bloggs' on the street who did invest in October will not have a plan, keep spouting off in the pub about how clever they are and it will come tumbling down before they've noticed :lol:
  • Do your homework and only invest what you are willing to lose. That's my advice.
  • pblakeney
    pblakeney Posts: 25,214
    PBlakeney wrote:
    Once Joe Bloggs on the street has heard about a "boom" then it is usually too late.
    Just saying...
    As I was saying...

    http://www.bbc.co.uk/news/business-42457983
    The above may be fact, or fiction, I may be serious, I may be jesting.
    I am not sure. You have no chance.
    Veronese68 wrote:
    PB is the most sensible person on here.
  • PBlakeney wrote:
    PBlakeney wrote:
    Once Joe Bloggs on the street has heard about a "boom" then it is usually too late.
    Just saying...
    As I was saying...

    http://www.bbc.co.uk/news/business-42457983

    If you bought a week ago and planned to cash out today, sure. The picture is bigger than that in my opinion. The volatility will ruin most newcomers who are expecting a huge short term return and chase highs/lows. Only invest what you are willing to lose.
  • pblakeney
    pblakeney Posts: 25,214
    Prhymeate wrote:
    PBlakeney wrote:
    PBlakeney wrote:
    Once Joe Bloggs on the street has heard about a "boom" then it is usually too late.
    Just saying...
    As I was saying...

    http://www.bbc.co.uk/news/business-42457983

    If you bought a week ago and planned to cash out today, sure. The picture is bigger than that in my opinion. The volatility will ruin most newcomers who are expecting a huge short term return and chase highs/lows. Only invest what you are willing to lose.
    Which was my point. Newcomers were too late.
    The above may be fact, or fiction, I may be serious, I may be jesting.
    I am not sure. You have no chance.
    Veronese68 wrote:
    PB is the most sensible person on here.
  • rick_chasey
    rick_chasey Posts: 71,552
    So has anyone found anyone who has actually cashed out?

    Saw on one exchange there are 251,000 transactions outstanding, so it’s taking up to a week for the transaction to occur.
  • PBlakeney wrote:
    Which was my point. Newcomers were too late.

    My point is that they might not be if they hold on for longer. It's still early days in my opinion.