Max Power Posted December 28, 2020 Share Posted December 28, 2020 1 minute ago, horatiotheturd said: If you had put a grand into bitcoin 10 years ago you might think different as you would be sat on just over 333 MILLION pounds Granted yes, but I didn't understand it then any more than I do now! There was all sorts of talk that you couldn't cash it in for sterling etc, so it seems to be something for those who are comfortable with it? Quote Link to comment Share on other sites More sharing options...
horatiotheturd Posted December 28, 2020 Share Posted December 28, 2020 10 minutes ago, Max Power said: Granted yes, but I didn't understand it then any more than I do now! There was all sorts of talk that you couldn't cash it in for sterling etc, so it seems to be something for those who are comfortable with it? You can now buy and sell as eaily as using something like a revolut account real time from your phone. A grand three months ago now returns £2260 Quote Link to comment Share on other sites More sharing options...
Josem Posted December 28, 2020 Share Posted December 28, 2020 1 hour ago, horatiotheturd said: A grand three months ago now returns £2260 I don't think that showing past exponential growth is very helpful now - it's not as if we can go back in time to take advantage of such posts. After all, the right numbers invested in last week's lottery would also give a very profitable return, but that's not predictive of what will happen in next week's lottery. I guess if you think the current price is wrong in some way (the true value of Bitcoin is too low, or the true value of Bitcoin is too high) then you should go ahead and wager your own money on that? (I don't think I have any ability to predict future prices, so I don't even try.) Quote Link to comment Share on other sites More sharing options...
TheTeapot Posted December 28, 2020 Share Posted December 28, 2020 I spent 0.8 BTC on 1/8 of King Hassan hash in 2013. Would now be worth £16000 or so. The hash was mighty fine. 2 1 Quote Link to comment Share on other sites More sharing options...
horatiotheturd Posted December 28, 2020 Share Posted December 28, 2020 18 minutes ago, Josem said: I don't think that showing past exponential growth is very helpful now - it's not as if we can go back in time to take advantage of such posts. After all, the right numbers invested in last week's lottery would also give a very profitable return, but that's not predictive of what will happen in next week's lottery. I guess if you think the current price is wrong in some way (the true value of Bitcoin is too low, or the true value of Bitcoin is too high) then you should go ahead and wager your own money on that? (I don't think I have any ability to predict future prices, so I don't even try.) Not trying to be helpful or predict anything. Simply stating facts. Quote Link to comment Share on other sites More sharing options...
the stinking enigma Posted December 28, 2020 Share Posted December 28, 2020 Universal trouser bonds. Never let me down. Get on it. Quote Link to comment Share on other sites More sharing options...
quilp Posted December 28, 2020 Share Posted December 28, 2020 No flies on you, eh Stinky..? 1 Quote Link to comment Share on other sites More sharing options...
Amadeus Posted December 30, 2020 Share Posted December 30, 2020 On 12/28/2020 at 4:33 PM, Max Power said: Granted yes, but I didn't understand it then any more than I do now! There was all sorts of talk that you couldn't cash it in for sterling etc, so it seems to be something for those who are comfortable with it? As a basic rule, BTC, or Bitcoin Core, is the only Bitcoin and the only crypto currency really worth looking at. All others are lovingly referred to as shitcoins. Some shitcoins have their uses, some are just rubbish and some are outright scams. It's down to the user to work out which is which and often it's quite obvious. Even BTC is still volatile but I do firmly believe that its value will go up considerably in the future as more and more people - including usually old fashioned institutional investors - are buying into it. Quote Link to comment Share on other sites More sharing options...
John Wright Posted December 30, 2020 Share Posted December 30, 2020 15 minutes ago, Amadeus said: As a basic rule, BTC, or Bitcoin Core, is the only Bitcoin and the only crypto currency really worth looking at. All others are lovingly referred to as shitcoins. Some shitcoins have their uses, some are just rubbish and some are outright scams. It's down to the user to work out which is which and often it's quite obvious. Even BTC is still volatile but I do firmly believe that its value will go up considerably in the future as more and more people - including usually old fashioned institutional investors - are buying into it. It’s nothing more than a Dutch tulip scam hysteria. Bit coins don’t exist, they have no intrinsic value, and depends on enough people being greedy and gullible enough to bid for them, thereby attaching an illusory value. Those in early may make money. Those holding them when music stops will lose. 2 Quote Link to comment Share on other sites More sharing options...
HeliX Posted December 30, 2020 Share Posted December 30, 2020 3 minutes ago, John Wright said: It’s nothing more than a Dutch tulip scam hysteria. Bit coins don’t exist, they have no intrinsic value, and depends on enough people being greedy and gullible enough to bid for them, thereby attaching an illusory value. Those in early may make money. Those holding them when music stops will lose. Bitcoins do exist. Their value is linked to investor confidence, like a lot of currencies. Quote Link to comment Share on other sites More sharing options...
AcousticallyChallenged Posted December 30, 2020 Share Posted December 30, 2020 21 minutes ago, Amadeus said: As a basic rule, BTC, or Bitcoin Core, is the only Bitcoin and the only crypto currency really worth looking at. All others are lovingly referred to as shitcoins. Some shitcoins have their uses, some are just rubbish and some are outright scams. It's down to the user to work out which is which and often it's quite obvious. Even BTC is still volatile but I do firmly believe that its value will go up considerably in the future as more and more people - including usually old fashioned institutional investors - are buying into it. BTC only really has any value because it got there first, that's it. It's expensive to mine, slow to use and generally a good proof-of-concept. There are plenty of clones, ranging from dogecoin to back-of-barry'sshedcoin with no value. Now, there is a lot to not like about BTC. Coins are not fungible. One coin may not have the same value as another, because it has a tainted past that can be associated with it. It'd be like a 20 quid note saying COCAINE on it in bright red letters. Ethereum is an interesting concept, allowing you to create autonomous contracts which execute based on certain conditions. The biggest issue is feeding reliable data to those, often referred to as a matter for 'oracles'. But that's an administrative and trust issue as much as anything else. Monero is another one that is popular. You can verify a transaction has happened, but it gives you a level of anonymity that you don't get with other coins. For obvious reasons, it's more and more popular as the shady currency. This isn't an exhaustive list, but BTC is purely the catchy name with the biggest market cap from getting there first. There's no USP. Quote Link to comment Share on other sites More sharing options...
HeliX Posted December 30, 2020 Share Posted December 30, 2020 4 minutes ago, AcousticallyChallenged said: This isn't an exhaustive list, but BTC is purely the catchy name with the biggest market cap from getting there first. There's no USP. You don't need a USP if you're first to market and don't lack any major benefits that a competitor is able to offer... Quote Link to comment Share on other sites More sharing options...
Amadeus Posted December 30, 2020 Share Posted December 30, 2020 16 minutes ago, John Wright said: It’s nothing more than a Dutch tulip scam hysteria. Bit coins don’t exist, they have no intrinsic value, and depends on enough people being greedy and gullible enough to bid for them, thereby attaching an illusory value. Those in early may make money. Those holding them when music stops will lose. I strongly disagree. It's a lot more complex than the old tulip hysteria. Quote Link to comment Share on other sites More sharing options...
John Wright Posted December 30, 2020 Share Posted December 30, 2020 51 minutes ago, HeliX said: Bitcoins do exist. Their value is linked to investor confidence, like a lot of currencies. Investor confidence = greed and gullibility. They have no value. Quote Link to comment Share on other sites More sharing options...
John Wright Posted December 30, 2020 Share Posted December 30, 2020 39 minutes ago, Amadeus said: I strongly disagree. It's a lot more complex than the old tulip hysteria. But it’s still either a ponzi, a scam or a fraud, at worst or a hysteria at best. Quote Link to comment Share on other sites More sharing options...
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