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 CambridgeEagle  Sydenham 06 Feb 18 12.12pm |
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The crackdown on Bitcoins by commercial and central banks will also make their use much more limited and their value fall (as we're seeing currently). My view is that it's good tech, but used badly.
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| .TUX. 06 Feb 18 6.12pm |
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Originally posted by CambridgeEagle
The crackdown on Bitcoins by commercial and central banks will also make their use much more limited and their value fall (as we're seeing currently). My view is that it's good tech, but used badly. Those you mention control EVERY market (FOREX/Bond/Stock Exchanges etc) and since last year have been moving into cryptos. They have deliberately shorted the crypto market lately purely to buy 'at a discount'........because they can. The chairmen of the SEC and CFTC, the two federal regulators tasked with overseeing cryptocurrencies, appeared before the Senate Banking Committee today to discuss their regulatory approach to the market. Edit: Green as for as the eye can see re- crypto movement. (For the record, i stand by my prediction of the next big move starting soon/Spring). Edited by .TUX. (06 Feb 2018 8.21pm) Edited by .TUX. (06 Feb 2018 8.21pm)
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| .TUX. 08 Feb 18 8.45pm |
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Originally posted by .TUX.
The chairmen of the SEC and CFTC, the two (US) federal regulators tasked with overseeing cryptocurrencies, appeared before the Senate Banking Committee today to discuss their regulatory approach to the market. I get that there are no responses as cryptos are new to many, mistrusted etc, but the result of the meeting is the equivalent of the 'Man from Del Monte' saying YES! This thread should be pinned imo as this 'topic' will be a constant throughout the year.
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| Lyons550 Shirley 12 Feb 18 2.19pm |
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An interesting 'slant' on the old Bitcoin mining story The power used to mine coins to exceed that currently drawn by Icelands houses!!
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| .TUX. 12 Feb 18 5.41pm |
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Originally posted by Lyons550
An interesting 'slant' on the old Bitcoin mining story The power used to mine coins to exceed that currently drawn by Icelands houses!! A. It's a good job that the majority of Bitcoins have already been mined then.
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| thegreatlardino crawley/selsey 12 Feb 18 6.12pm |
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i am totally baffled by this whole bitcoin business, thought mining was done upt north
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pefwin  Where you have to have an English ... 12 Feb 18 6.18pm |
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Originally posted by .TUX.
A. It's a good job that the majority of Bitcoins have already been mined then. Might as well mine loads of bitcoin rather than waste geothermal energy to the laws of entropy.
"Everything is air-droppable at least once." "When the going gets tough, the tough call for close air support." |
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| .TUX. 12 Feb 18 7.04pm |
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Originally posted by pefwin
Might as well mine loads of bitcoin rather than waste geothermal energy to the laws of entropy. I agree.
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| .TUX. 12 Feb 18 8.59pm |
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Just watching a show on Auntie Beeb re- Bitcoin/cryptos. I'm looking forward to a similar show on the Central Banking system that robs EVERY SINGLE ONE OF US DAILY..............but i'll not hold my breath.
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| pefwin Where you have to have an English ... 12 Feb 18 9.04pm |
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Originally posted by .TUX.
Just watching a show on Auntie Beeb re- Bitcoin/cryptos. I'm looking forward to a similar show on the Central Banking system that robs EVERY SINGLE ONE OF US DAILY..............but i'll not hold my breath. You are touching on it, a currency no longer controlled by any countries government, freely tradeable within their domain. Circumventing politicians and perhaps strict taxation.
"Everything is air-droppable at least once." "When the going gets tough, the tough call for close air support." |
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| .TUX. 12 Feb 18 9.25pm |
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Originally posted by pefwin
You are touching on it, a currency no longer controlled by any countries government, freely tradeable within their domain. Circumventing politicians and perhaps strict taxation. Far from it. Edit: As blockchain technology is a fully de-cetralised system, ie not open to any kind of manipulation/fraud, it'll be interesting to see where our tax dollars DO actually go other than the privately owned Bank of England (currently around £1bil p/w?).
Edited by .TUX. (12 Feb 2018 9.46pm)
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| stuckinbristol In the woodwork. 13 Feb 18 12.48pm |
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I have been trying really hard to get a grip on all this crypto currency stuff, but have more questions than answers. I'm not a total technophobe, but will confess to being a bit behind the curve. I've read about storing bitcoins in virtual wallets, if these are on my laptop what stops someone hacking in and nicking my hard earned? What is the idea behind these currencies, is it that all other currencies will become obsolete in the future, and everyone will use these? How will countries balance their economy without being able to print more/less currency to bring inflation up/down? Who ultimately makes new currency? On the above, how does anyone know that at the inventor (if that is even the right word) of bit coin isn't going to say 'Hey look, I've got a s**t load more of these than anyone knew about'? How is the man in the street to know what anything is worth without having his finger on the pulse, when crypto's prices fluctuate so wildly? Basically you could buy a car worth 10.000 bit coins one day, only to find out it's worth 1 bitcoin the next? Who will decide which crypto is going to'rule', a bit like the VHS/Betamax war? This is just a selection of my questions, sorry if all of this has been covered before, but I just ain't getting it.
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