Bitcoins

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Bitcoins

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.TUX. 29 Dec 17 5.47am
Originally posted by the.universal This thread leads me to believe that no-one really understands bitcoin. Some people profess to know a bit, but actually they only partially understand a small part of it (including me). So let’s stop pretending we’re know even the basics. Ok. Buy Litecoin.
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.TUX.

29 Dec 17 5.47am

Originally posted by the.universal

This thread leads me to believe that no-one really understands bitcoin. Some people profess to know a bit, but actually they only partially understand a small part of it (including me).

So let’s stop pretending we’re know even the basics.

Ok.

Buy Litecoin.

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wordup 31 Dec 17 3.03am
I toyed with buying some at $400, but of course didn't. The rest is history!
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wordup

31 Dec 17 3.03am

I toyed with buying some at $400, but of course didn't. The rest is history!

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aquickgame2 Beni = summer,Caribbean = winter 31 Dec 17 8.03am
All sounds like the Emperors new clothes to me....therefore I'm out.
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aquickgame2

Beni = summer,Caribbean = winter 31 Dec 17 8.03am

All sounds like the Emperors new clothes to me....therefore I'm out.

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.TUX. 31 Dec 17 8.57am
Originally posted by wordup I toyed with buying some at $400, but of course didn't. The rest is history! Litecoin ( $220ish atm) will fly in 2018. Edited by .TUX. (31 Dec 2017 8.58am) Buy Litecoin.
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.TUX.

31 Dec 17 8.57am

Originally posted by wordup

I toyed with buying some at $400, but of course didn't. The rest is history!

Litecoin ( $220ish atm) will fly in 2018.

Edited by .TUX. (31 Dec 2017 8.58am)

Buy Litecoin.

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chris123 hove actually 31 Dec 17 9.10am
Originally posted by .TUX. Litecoin ( 0ish atm) will fly in 2018. Edited by .TUX. (31 Dec 2017 8.58am) Let me know when you've made your first million!
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chris123

hove actually 31 Dec 17 9.10am

Originally posted by .TUX.

Litecoin ( 0ish atm) will fly in 2018.

Edited by .TUX. (31 Dec 2017 8.58am)

Let me know when you've made your first million!

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Ketteridge Brighton 31 Dec 17 5.25pm
Originally posted by .TUX. Who do the (privately owned) Central Banks bail-out? Other banks. Who pays to keep these failed banks and their never-ending streams of fraud and corruption in business? We do. Who tells you that we'll face armageddon if the financial system were to collapse? Those that cause the problems in the first place. Who is against the rise of crypto's because it's AN HONEST alternative to what we have had for many years now forced upon us? The banks. We have been absolutely fleeced for decades. Time for a change. Fair enough but doesn’t this prove the point I was making, if the tech can be co-opted by mainstream banking then BITcoins selling point is it ability to sidestep traditional banking. So whether Bitcoin has a role is down to your trust or mistrust in central banks. To be fair I think you are right about central banks, but controversially for the internet I have no strong opinions on central banks overall only how they act, yep much of the money that was ring fenced for banks through quantitative easing hasn’t ended up where it should and has been used to boost bank funds, the lack of investment and low interest rate has lead to investment in property rather than business/industry which has lead to low productivity and a housing crisis. However a national investment bank set up to run in the national interest could solve this and would be accountable through government and elections. More regulation and control rather than less. One supporter of hacking argued that without it "you will do away with the courage and pluck of the game, and I will be bound to bring over a lot of Frenchmen who would beat you with a week's practice -Blackheath secretary at first meeting of the F.A
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Ketteridge

Brighton 31 Dec 17 5.25pm

Originally posted by .TUX.

Who do the (privately owned) Central Banks bail-out? Other banks.
Who pays to keep these failed banks and their never-ending streams of fraud and corruption in business?
We do.
Who tells you that we'll face armageddon if the financial system were to collapse?
Those that cause the problems in the first place.
Who is against the rise of crypto's because it's AN HONEST alternative to what we have had for many years now forced upon us?
The banks.

We have been absolutely fleeced for decades. Time for a change.

Fair enough but doesn’t this prove the point I was making, if the tech can be co-opted by mainstream banking then BITcoins selling point is it ability to sidestep traditional banking. So whether Bitcoin has a role is down to your trust or mistrust in central banks.
To be fair I think you are right about central banks, but controversially for the internet I have no strong opinions on central banks overall only how they act, yep much of the money that was ring fenced for banks through quantitative easing hasn’t ended up where it should and has been used to boost bank funds, the lack of investment and low interest rate has lead to investment in property rather than business/industry which has lead to low productivity and a housing crisis. However a national investment bank set up to run in the national interest could solve this and would be accountable through government and elections. More regulation and control rather than less.

One supporter of hacking argued that without it "you will do away with the courage and pluck of the game, and I will be bound to bring over a lot of Frenchmen who would beat you with a week's practice -Blackheath secretary at first meeting of the F.A

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Ketteridge Brighton 31 Dec 17 5.28pm
Originally posted by .TUX. Every transaction will forever be verified on the Blockchain by the many computers in the system. Any fee will be minute compared to the current system as it takes out 'the middle-man', ie the banks. Currently, my understanding is that transactions are verified through using a network of computers the reward for this is receiving Bitcoins. So why will people still use allocate their computer resources to verifying Bitcoins transaction when they are no longer getting the reward, why not switch to another Crypto currency provider. We are not going to hit the 21m mark until 2140 apparently, but the reward for mining is halving every 4 years so why not move on to other currencies. One supporter of hacking argued that without it "you will do away with the courage and pluck of the game, and I will be bound to bring over a lot of Frenchmen who would beat you with a week's practice -Blackheath secretary at first meeting of the F.A
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Ketteridge

Brighton 31 Dec 17 5.28pm

Originally posted by .TUX.

Every transaction will forever be verified on the Blockchain by the many computers in the system.
Any fee will be minute compared to the current system as it takes out 'the middle-man', ie the banks.

Currently, my understanding is that transactions are verified through using a network of computers the reward for this is receiving Bitcoins. So why will people still use allocate their computer resources to verifying Bitcoins transaction when they are no longer getting the reward, why not switch to another Crypto currency provider.
We are not going to hit the 21m mark until 2140 apparently, but the reward for mining is halving every 4 years so why not move on to other currencies.

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Ouzo Dan Behind you 04 Jan 18 8.53pm
Missed the boat on Bitcoin when I could have picked them up for about $10 a coin, I found it stupidly hard work getting an exchange to work so tried mining them until I realized I couldnt use my PC for gaming all the time it was doing that so quickly gave up. Been kicking myself ever since. Im currently sitting on 57 Ripple coins, yeah I know its not a proper crypto coin like bitcoin/litecoin etc and it spits in the face of my inner libertarian but I see Ripple as the Spotify to Bitcoins Napster & we know what happened to Napster. Banks are getting on board and using it more & more. Its trading at about $2.50 at the moment making it cheap enough to buy in decent numbers without risking too much money. Coinbase are going to be selling it soon which is guaranteed to raise the price considerably Ive convinced myself when it hits coinbase it will hit Bitcoin cash prices ($2400) The main reason ive jumped on Ripple is there is the same buzz about it now as there was about Bitcoin when I tried to back it years ago. Edited by Ouzo Dan (04 Jan 2018 9.23pm) The mountains are calling & I must go.
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Ouzo Dan

Behind you 04 Jan 18 8.53pm

Missed the boat on Bitcoin when I could have picked them up for about $10 a coin, I found it stupidly hard work getting an exchange to work so tried mining them until I realized I couldnt use my PC for gaming all the time it was doing that so quickly gave up.
Been kicking myself ever since.

Im currently sitting on 57 Ripple coins, yeah I know its not a proper crypto coin like bitcoin/litecoin etc and it spits in the face of my inner libertarian but I see Ripple as the Spotify to Bitcoins Napster & we know what happened to Napster.

Banks are getting on board and using it more & more.
Its trading at about $2.50 at the moment making it cheap enough to buy in decent numbers without risking too much money.
Coinbase are going to be selling it soon which is guaranteed to raise the price considerably
Ive convinced myself when it hits coinbase it will hit Bitcoin cash prices ($2400)

The main reason ive jumped on Ripple is there is the same buzz about it now as there was about Bitcoin when I tried to back it years ago.

Edited by Ouzo Dan (04 Jan 2018 9.23pm)

The mountains are calling & I must go.

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.TUX. 04 Jan 18 9.14pm
Originally posted by Ketteridge Currently, my understanding is that transactions are verified through using a network of computers the reward for this is receiving Bitcoins. So why will people still use allocate their computer resources to verifying Bitcoins transaction when they are no longer getting the reward, why not switch to another Crypto currency provider. We are not going to hit the 21m mark until 2140 apparently, but the reward for mining is halving every 4 years so why not move on to other currencies. You worry too much. There will always be someone willing to take on the task. Chill Buy Litecoin.
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.TUX.

04 Jan 18 9.14pm

Originally posted by Ketteridge

You worry too much.
There will always be someone willing to take on the task.
Chill

Buy Litecoin.

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Ketteridge Brighton 05 Jan 18 6.42am
Originally posted by .TUX. You worry too much. There will always be someone willing to take on the task. Chill You are probably right but I found it a lot easier to chill before they shut down the silk road One supporter of hacking argued that without it "you will do away with the courage and pluck of the game, and I will be bound to bring over a lot of Frenchmen who would beat you with a week's practice -Blackheath secretary at first meeting of the F.A
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Ketteridge

Brighton 05 Jan 18 6.42am

Originally posted by .TUX.

You worry too much.
There will always be someone willing to take on the task.
Chill

You are probably right but I found it a lot easier to chill before they shut down the silk road

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Helmet46 Croydon 05 Jan 18 8.06am
[Link] Hopefully this will help.
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Helmet46

Croydon 05 Jan 18 8.06am

[Link]

Hopefully this will help.

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chris123 hove actually 12 Jan 18 8.57am
Originally posted by chris123 Never invest in something you don't understand - and I don't understand why a bitcoin isn't worth zero as it is backed by zero, has no intrinsic value and as the guy on Bloomberg said you can't buy a McDonalds coffee with a bitcoin. Good to see Warren agrees. [Link]
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chris123

hove actually 12 Jan 18 8.57am

Originally posted by chris123

Never invest in something you don't understand - and I don't understand why a bitcoin isn't worth zero as it is backed by zero, has no intrinsic value and as the guy on Bloomberg said you can't buy a McDonalds coffee with a bitcoin.

Good to see Warren agrees.

[Link]

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