Bit coins????
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Prhymeate wrote: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.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.0 -
PBlakeney wrote:
Thanks. I've been in for a while so it's easier to swallow the corrections that have been and will inevitably come in the future. If anything it's good for the long term. Let's see what happens in the next year or so...0 -
I put £35 last month. I may add more but I will leave it for a few years. It's more of a giggle really as past performance is no guarantee of future returns. Prices are way to volitile.http://www.thecycleclinic.co.uk -wheel building and other stuff.0
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From the FT
Bitcoin were worth $19,666 on December 17, but collapsed to $10,775. It climbed back to $16,000 before slipping back to $14,000 again.
Quite a harum scarum investment.0 -
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Is anyone using this currency to buy anything except other currency? Or is it now just a vehicle for speculation?0
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Well, at a recent bitcoin convention they would not accept - Bitcoins.
Tells me all I need to know.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.0 -
KingstonGraham wrote:Is anyone using this currency to buy anything except other currency? Or is it now just a vehicle for speculation?
Isn't it the currency of the black market?0 -
Rick Chasey wrote: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.
I know someone who bought at $20 and sold at $16,000.0 -
TheBigBean wrote:Rick Chasey wrote: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.
I know someone who bought at $20 and sold at $16,000.
Ooof!0 -
Bitcoin owes it success to critical mass of computing power through common consent It's a supremacy that could be toppled as the importance of blockchain technology grows and/or common consent changes.
Bitcoin is too much of a gamble for me. I like to invest in companies that may benefit from the technology but not in the companies that progress it. Less reward but less risk. At the moment I have 3 irons in that fire, all well established and steady players. I'll never win that lottery!0 -
Robert88 wrote:Bitcoin owes it success to critical mass of computing power through common consent It's a supremacy that could be toppled as the importance of blockchain technology grows and/or common consent changes.
Blockchain technology is not about common consent. You need to set up a blockchain processor - don't need a license for it - you just enter the lottery to win a bitcoin.
The open ledger concept needs explanation. Take buying from ebay - make a transaction and the seller does not know or trust you so they use a third party - say PayPal which knows you and has access to your accounts and can contract with you top pay them and thence to pay the ebay seller. The point of this is that you - the buyer are known so the seller can sell to you confident that they will be paid.
With bitcoins - both parties are anonymous. So how do I know the bit coin will be delivered (to my anonymous address) and how does the seller know that they will be paid.
My buy transaction with a seller sets up an algorithm which requires big computing power to solve. The problem is distributed to 'lots of' processors each incentivised with the chance of winning a bitcoin in a lottery. If after processing, all solutions are the same then the transaction has been agreed by 'lots of' 'people'. So it is as legit as paypal agreeing it is legit.
It is a little more complex than that but as most of you are idiots then I won't bother....take your pickelf on your holibobs....
jeez :roll:0 -
FishFish wrote:Robert88 wrote:Bitcoin owes it success to critical mass of computing power through common consent It's a supremacy that could be toppled as the importance of blockchain technology grows and/or common consent changes.
Blockchain technology is not about common consent. You need to set up a blockchain processor - don't need a license for it - you just enter the lottery to win a bitcoin.
The open ledger concept needs explanation. Take buying from ebay - make a transaction and the seller does not know or trust you so they use a third party - say PayPal which knows you and has access to your accounts and can contract with you top pay them and thence to pay the ebay seller. The point of this is that you - the buyer are known so the seller can sell to you confident that they will be paid.
With bitcoins - both parties are anonymous. So how do I know the bit coin will be delivered (to my anonymous address) and how does the seller know that they will be paid.
My buy transaction with a seller sets up an algorithm which requires big computing power to solve. The problem is distributed to 'lots of' processors each incentivised with the chance of winning a bitcoin in a lottery. If after processing, all solutions are the same then the transaction has been agreed by 'lots of' 'people'. So it is as legit as paypal agreeing it is legit.
It is a little more complex than that but as most of you are idiots then I won't bother.
I did not say blockchain was about common consent. What I said was that Bitcoin depends on common consent. There are more than 1500 cryptocurrencies of which 1, Bitcoin, is well known. Its ascendancy depends on its popularity.
In reality there is no need to understand the underlying processes to use the technology, any more than one needs to understand how a computer works to use it. As with cash, the important thing is the trust or consent that it is endowed with.
Blockchains are add-only distributed databases enabling contracts of all kinds to be made. The uses for the technology extend way beyond money transactions, eventually it will reach into every corner of our lives. Examples include medical records, land registries, ownership records, commodity trading, maintenance records, encryption or just a different version of the internet. Another example is automated road-use-pricing!0 -
They are not distributed databases they are distributed processing which is essential to preserve anonymity of the bitcoin or whatever crypto currency (clue maybe in the 'crypto' part of the denomination.
Your example is utterly idiotic.
When you are on a toll road you pay through the clearing system - the transaction is encrypted but the road user and the road operator are not anonymous.
My interpretation of your name is that you were born in 1988 and thus are 40. At that age you should have a little more intelligence and a persuasive ability that seems to elude you.
Alternatively it may be your IQ....take your pickelf on your holibobs....
jeez :roll:0 -
FishFish wrote:They are not distributed databases they are distributed processing which is essential to preserve anonymity of the bitcoin or whatever crypto currency (clue maybe in the 'crypto' part of the denomination.
Your example is utterly idiotic.
When you are on a toll road you pay through the clearing system - the transaction is encrypted but the road user and the road operator are not anonymous.
My interpretation of your name is that you were born in 1988 and thus are 40. At that age you should have a little more intelligence and a persuasive ability that seems to elude you.
Alternatively it may be your IQ.
Top bombing0 -
Surrey Commuter wrote:FishFish wrote:They are not distributed databases they are distributed processing which is essential to preserve anonymity of the bitcoin or whatever crypto currency (clue maybe in the 'crypto' part of the denomination.
Your example is utterly idiotic.
When you are on a toll road you pay through the clearing system - the transaction is encrypted but the road user and the road operator are not anonymous.
My interpretation of your name is that you were born in 1988 and thus are 40. At that age you should have a little more intelligence and a persuasive ability that seems to elude you.
Alternatively it may be your IQ.
Top bombing
Crap maths, though1985 Mercian King of Mercia - work in progress (Hah! Who am I kidding?)
Pinnacle Monzonite
Part of the anti-growth coalition0 -
he thinks bitcoin is anonymous, blessmy bike - faster than god's and twice as shiny0
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rjsterry wrote:Surrey Commuter wrote:FishFish wrote:They are not distributed databases they are distributed processing which is essential to preserve anonymity of the bitcoin or whatever crypto currency (clue maybe in the 'crypto' part of the denomination.
Your example is utterly idiotic.
When you are on a toll road you pay through the clearing system - the transaction is encrypted but the road user and the road operator are not anonymous.
My interpretation of your name is that you were born in 1988 and thus are 40. At that age you should have a little more intelligence and a persuasive ability that seems to elude you.
Alternatively it may be your IQ.
Top bombing
Crap maths, though
That is what I was alluding to and if Rob88 is only 30 then he can be excused. Mind you if born in 1988 he could also be 70 and suffering from mental degradation.0 -
Wow! I seem to have struck a nerve, clearly fishes can feel!!
I get my info on Blockchain from people who work in that field so whilst I will read what's written on here, I have better sources.0 -
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I promise I will do that.
The 88 thing is Chinese. I like 8s.0 -
Anyone listened to The Missing Crypoqueen podcast on BBC Sounds ?
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Or even CryptoQueen.0
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I have listened.fenix said:Anyone listened to The Missing Cryptoqueen podcast on BBC Sounds ?
Lesson: people are gullible enough to help you make lots of money. If you're sufficiently morally bankrupt to exploit it.
Ben
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Those people deserve all they get. It's out in the open that it's all a hoax - FFS her brother has been charged with committing fraud.Tashman said:
Yes, found it very interesting, although frustrating that there was no specific conclusion. Even more amazing that it is still active and people are buying into it.fenix said:Anyone listened to The Missing Crypoqueen podcast on BBC Sounds ?
Ben
Bikes: Donhou DSS4 Custom | Condor Italia RC | Gios Megalite | Dolan Preffisio | Giant Bowery '76
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Wait for the mis-selling com-pen-say-shun claims... against...?0
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ben6899 said:
Those people deserve all they get. It's out in the open that it's all a hoax - FFS her brother has been charged with committing fraud.Tashman said:
Yes, found it very interesting, although frustrating that there was no specific conclusion. Even more amazing that it is still active and people are buying into it.fenix said:Anyone listened to The Missing Crypoqueen podcast on BBC Sounds ?
You wouldn't say that if you knew who they have targetted now - villagers in africa - and it's been pushed by preachers. Shameful.0 -
shortfall said:
Yes. First half dozen episodes were electrifying, then it sort of fizzled out. Goes to prove how gullible people can be though (see also people who vote for Corbyn's Labour Party).fenix said:Anyone listened to The Missing Crypoqueen podcast on BBC Sounds ?
Sorry - have you HEARD the stuff that the Tories have come out with lately ? I don't think Labour have the monopoly on made up stuff...0