x-in-man Posted December 30, 2020 Share Posted December 30, 2020 From what i have seen they are trialling their block chain thingy to show it works, which it might, but who knows, or even cares. However, no one wants to use it because the app and tech behind it is as wonky as feck. It basically needs people to delete everything every couple of days and reset, relying on a 12 word collection to get everything back again. That and a PIN code that it won’t recognise the second you type it in. it has the feel of a 12 year olds school computer project about it - or something Del boy has got off a bloke down the pub that’ll only run on an ZX Spectrum. Quote Link to comment Share on other sites More sharing options...
slinkydevil Posted December 31, 2020 Share Posted December 31, 2020 40 minutes ago, x-in-man said: or something Del boy has got off a bloke down the pub that’ll only run on an ZX Spectrum. This time next year Rodney!! 1 Quote Link to comment Share on other sites More sharing options...
Amadeus Posted December 31, 2020 Share Posted December 31, 2020 21 hours ago, AcousticallyChallenged said: 1 bitcoin isn't worth the same as another, and as the supply dries up, that'll become more and more of an issue. Exchanges will reject coins that have been previously associated with dodgy addresses, and ever more people are using it to get a few grams of weed or pay ransomware ransoms. What do you do when there's a disparity in those values? 'Virgin' coins are actually proposed to be regulated differently by the financial action task force. Every single USD note has more crime attached to it than the same BTC amount. When I did the BTC sportsbook and casino here I was first concerned about the number of deposits we may have to reject due to dodgy BTC but in reality only a small part of BTC used in every day transactions is 'dirty'. Quote Link to comment Share on other sites More sharing options...
Albert Tatlock Posted December 31, 2020 Share Posted December 31, 2020 34 minutes ago, Amadeus said: ...but in reality only a small part of BTC used in every day transactions is 'dirty'. I think you mean "Haven't been caught yet"? Quote Link to comment Share on other sites More sharing options...
Josem Posted January 1, 2021 Share Posted January 1, 2021 On 12/31/2020 at 5:36 PM, Amadeus said: Every single USD note has more crime attached to it than the same BTC amount. Sure, but USD cash isn't traceable in the same way that BTC is. I don't see much value in BTC as a currency (You and I can transfer GBP money electronically to each other, faster, cheaper and without burning a lot of electricity to do so) but I think the great value of blockchain currencies is as a live action education on why financial regulation was created over the last ~400 years. I have no particular interest in BTC, and don't know what the price will be in the future. However, there's a reason it is generally illegal to try to sell weird financial instruments to unsophisticated investors using local newspaper wraparounds. When the people who lose money to Manncoin recognise that they are victims, we will have a local re-enactment of early consumer protection debate. That will be educational! 1 Quote Link to comment Share on other sites More sharing options...
mad_manx Posted January 1, 2021 Share Posted January 1, 2021 (edited) 12 minutes ago, Josem said: Sure, but USD cash isn't traceable in the same way that BTC is. I don't see much value in BTC as a currency (You and I can transfer GBP money electronically to each other, faster, cheaper and without burning a lot of electricity to do so) but I think the great value of blockchain currencies is as a live action education on why financial regulation was created over the last ~400 years. I have no particular interest in BTC, and don't know what the price will be in the future. However, there's a reason it is generally illegal to try to sell weird financial instruments to unsophisticated investors using local newspaper wraparounds. When the people who lose money to Manncoin recognise that they are victims, we will have a local re-enactment of early consumer protection debate. That will be educational! Most people do not think of BTC as a currency these days. Its too slow and expensive to transfer funds. It is considered more as an asset these days (like gold /art etc) .Lots of institutional buyers stepping in. These days most people use stablecoins like USDT to transfer funds if needed. USD tether is pegged to the USD Some of the versions can even be transferred from wallet to wallet ( across the world ) in seconds with a fee of around 1 p (0.01 GBP) . :-) Edited January 1, 2021 by mad_manx Quote Link to comment Share on other sites More sharing options...
horatiotheturd Posted January 1, 2021 Share Posted January 1, 2021 2 hours ago, mad_manx said: Most people do not think of BTC as a currency these days. Its too slow and expensive to transfer funds. It is considered more as an asset these days (like gold /art etc) .Lots of institutional buyers stepping in. These days most people use stablecoins like USDT to transfer funds if needed. USD tether is pegged to the USD Some of the versions can even be transferred from wallet to wallet ( across the world ) in seconds with a fee of around 1 p (0.01 GBP) . 🙂 Exactly this. I maintain a bitcoin account and keep buy and sell from a gbp account (instantly) when I see fit. I have never purchased anything using bitcoin, but have turned 9k gbp into 40k gbp in a couple of years 1 Quote Link to comment Share on other sites More sharing options...
dilligaf Posted January 3, 2021 Share Posted January 3, 2021 On 1/1/2021 at 10:21 PM, horatiotheturd said: Exactly this. I maintain a bitcoin account and keep buy and sell from a gbp account (instantly) when I see fit. I have never purchased anything using bitcoin, but have turned 9k gbp into 40k gbp in a couple of years Can someone explain in very simple terms how this is worth anything at all ?. Can’t help thinking one day someone will just say, tough luck. This is just a con. Quote Link to comment Share on other sites More sharing options...
horatiotheturd Posted January 3, 2021 Share Posted January 3, 2021 19 minutes ago, dilligaf said: Can someone explain in very simple terms how this is worth anything at all ?. Can’t help thinking one day someone will just say, tough luck. This is just a con. In my case its real cash in GBP in my bank account. I buy and sell bitcoin real-time. I invested 9k I now have over 20k in my gap bank account. I also still have the original 9k in gap invested in bitcoin. I have been very cautious. If Bitcoin turns out to be worth nothing tomorrow I lose my 9k currently in bitcoin so am "only" 11k up. Had i been less cautious i would probably have nearer 50k now from my 9. Had i been even less cautious and thrown everything I have in I would be a multi millionaire. The way I do it is no different to trading any commodity like oil, gold etc 1 Quote Link to comment Share on other sites More sharing options...
dilligaf Posted January 3, 2021 Share Posted January 3, 2021 5 minutes ago, horatiotheturd said: In my case its real cash in GBP in my bank account. I buy and sell bitcoin real-time. I invested 9k I now have over 20k in my gap bank account. I also still have the original 9k in gap invested in bitcoin. I have been very cautious. If Bitcoin turns out to be worth nothing tomorrow I lose my 9k currently in bitcoin so am "only" 11k up. Had i been less cautious i would probably have nearer 50k now from my 9. Had i been even less cautious and thrown everything I have in I would be a multi millionaire. The way I do it is no different to trading any commodity like oil, gold etc Thanks for that. I must just be thick, because I still don’t understand the concept. Quote Link to comment Share on other sites More sharing options...
horatiotheturd Posted January 3, 2021 Share Posted January 3, 2021 3 minutes ago, dilligaf said: Thanks for that. I must just be thick, because I still don’t understand the concept. I just trade bitcoin in exactly the same way I do gold. Its just a commodity (the way I do it, mining etc is a completely different ball game) If you get the concept of trading currency or commodities, then you get one of the ways to trade bitcoin Quote Link to comment Share on other sites More sharing options...
dilligaf Posted January 3, 2021 Share Posted January 3, 2021 1 minute ago, horatiotheturd said: I just trade bitcoin in exactly the same way I do gold. Its just a commodity (the way I do it, mining etc is a completely different ball game) If you get the concept of trading currency or commodities, then you get one of the ways to trade bitcoin I can visualise commodities as being physical things, but just can’t for the life of me see what a Bitcoin is. Quote Link to comment Share on other sites More sharing options...
horatiotheturd Posted January 3, 2021 Share Posted January 3, 2021 5 minutes ago, dilligaf said: I can visualise commodities as being physical things, but just can’t for the life of me see what a Bitcoin is. What's a euro? Quote Link to comment Share on other sites More sharing options...
finlo Posted January 3, 2021 Share Posted January 3, 2021 5 minutes ago, dilligaf said: I can visualise commodities as being physical things, but just can’t for the life of me see what a Bitcoin is. 1 Quote Link to comment Share on other sites More sharing options...
dilligaf Posted January 3, 2021 Share Posted January 3, 2021 17 minutes ago, finlo said: Was my thought too. I must just be old and stupid to not not see the score Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.