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ozleicester

Bitcoin?

By ozleicester, in General Chat

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ADK

ADK

Posted
Posted

I should have done it too.

 

I just assumed it was wrapped up in the drugs trade, a way of money laundering.

 

Most people were using it to buy drugs on silk road.

cityfanlee23

cityfanlee23

Posted
Posted

I should have done it too.

 

I just assumed it was wrapped up in the drugs trade, a way of money laundering.

 

Most people were using it to buy drugs on silk road.

 

I never thought it would have the backing to take off,

 

Back then it was easy to mine thousands of coins on a £500 computer  lol

 

Did you see my previous post?

 

Man spent 10,000 bitcoins on a pizza, at the time it worked out at $25... Now? $9,500,000 

 

 

:pearson:  :pearson:  :pearson:  :pearson:  :pearson:  :pearson:  :pearson:  :pearson:

Haydos

Haydos

Posted
Posted

I'm guessing they aren't worth as much as is claimed. You would have to find a seller willing to give you money for them which I'd imagine would be quite difficult at the moment.

 

They're worth as much as people pay for them and the goods they trade for them, literally.

The God Emperor

The God Emperor

Posted
Posted

from what I've read it's mainly being used in places like africa and latin america where currency might aswell be toilet paper. the main use in the west seems to be the original miners cashing out which has driven the price up so quickly. i imagine it will become more feasible to use when it has crashed and returned to a more normal rate.

stateless currency is a fantastic idea, most of the governments power comes from their control of money. and less power in the hands of governments is good in my book  :thumbup:

ozleicester

ozleicester

Posted
  • Author
Posted (edited)

couple more bits (teehee) of information.

 

 

The whole bitcoin thing really could be a world changing situation.

 

For years (ever) gold has been the standard and the power as a result, has rested in just a few hands... if im reading this right (quite probably not), this has the potential to change the powers of the worlds largest economies?

 

http://thenewdaily.com.au/money/2014/01/12/changing-world-money-bitcoin-bitcoin/

 

edit - having said that, It still is not of any real value, it produces nothing and its value only exists as long as people believe it does?

Edited by ozleicester
ADK

ADK

Posted
Posted

Gold doesn't really have much value either though. I mean it's got good electrical conduction properties and is quite durable but it's not worth it's monetary value as a material.

  • 1 month later...
MC Prussian

MC Prussian

Posted
Posted (edited)

After the troubles surrounding Mt. Gox, another Bitcoing bank seizes its operations:

http://www.euronews.com/2014/03/05/another-bitcoin-bank-bites-the-dust-flexcoin-blames-losses-on-hackers/

 

And to make matters worse in the Bitcoin world, First Meta CEO Autumn Radtke is reported to have been found dead in Singapore, possibly having committed suicide.

http://www.huffingtonpost.co.uk/2014/03/05/autumn-radtke-dead_n_4904324.html?utm_hp_ref=uk

(First Meta is a Bitcoin-only trade platform)

 

EDIT: Just seen that the both stories has been included in a previous link. Apologies.:P

Edited by MC Prussian
MooseBreath

MooseBreath

Posted
Posted

There's definitely blood on the streets of bitcoin world so now might be the time to invest. Also might be worth looking at alternatives like litecoin. I'm thinking of a little dabble, a small sum spread across as many different platforms as possible, added to monthly and hopefully the value plummets for a couple of years while it rebuilds itself to try again, at which point I'll have built up a nice little stash at low cost. Definitely high risk but maybe worth a go with a small amount ofmoney.

Merging Cultures

Merging Cultures

Posted
Posted

There's definitely blood on the streets of bitcoin world so now might be the time to invest. Also might be worth looking at alternatives like litecoin. I'm thinking of a little dabble, a small sum spread across as many different platforms as possible, added to monthly and hopefully the value plummets for a couple of years while it rebuilds itself to try again, at which point I'll have built up a nice little stash at low cost. Definitely high risk but maybe worth a go with a small amount ofmoney.

That's probably a good idea.

  • 2 years later...
  • 1 year later...
ozleicester

ozleicester

Posted
  • Author
Posted
On 09/01/2014 at 16:11, ozleicester said:

Does anyone have them? what exactly are they? and, are they and others like them.. the future of finance?

 

I admit im old and out of touch so this is all i know about them...

 

1 Bit coin is worth about $100?

You get them by solving an algorithm?

they are limited to only 25 million?

they are used particularly to buy drugs and other questionable products online?

 

 

Im sure a few of our educated financial types here may be able to explain more about it, if you have the time and inclination, id be interested to know more.

bugger, im just looking atr bitcoin again today and remembered i thought id mentioned it on here.... a quick search shows the comment above... 1 bitcoin = $100..... now 1 bitcoin = $10,000

 

phuck it!!

 

Did anyone buy early... does anyone here use it regularly?

yorkie1999

yorkie1999

Posted
Posted
10 minutes ago, ozleicester said:

bugger, im just looking atr bitcoin again today and remembered i thought id mentioned it on here.... a quick search shows the comment above... 1 bitcoin = $100..... now 1 bitcoin = $10,000

 

phuck it!!

 

Did anyone buy early... does anyone here use it regularly?

Never bought any, but i got 5 free once and i'm buggered if i can remember where.

ozleicester

ozleicester

Posted
  • Author
Posted
1 hour ago, yorkie1999 said:

Never bought any, but i got 5 free once and i'm buggered if i can remember where.

lol id be searching long and hard for them :)

Webbo

Webbo

Posted
Posted
2 hours ago, yorkie1999 said:

Never bought any, but i got 5 free once and i'm buggered if i can remember where.

Have you looked down the back of the sofa? I'm always finding coins there.

  • 3 months later...
ithuriel

ithuriel

Posted
Posted
Just now, Innovindil said:

... Are you serious? 

Just asking what peeps make of it, has all the looks of a pyramid scheme and a scam from my point of view.

Then again, online currencies are something I stay well away from.

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