Bitcoin Mining & Other Crypto Currencies | Page 5 | Vital Football

Bitcoin Mining & Other Crypto Currencies

I bought my property for £335k, according to Zoopla says it's now worth £350k in 12 months time it will break the £4m barrier.

Anyone want to pay me the cash now?

 
Every time I read this thread I just can't help but think about one of the first ever topics you are taught in economics.

e of the most famous market bubbles of all time, which occurred in Holland during the early 1600s when speculation drove the value of tulip bulbs to extremes. At the height of the market, the rarest tulip bulbs traded for as much as six times the average person's annual salary.


As I say before, I think you could do well out of bitcoin assuming you get out at the right time. It'll be interesting to see that second wave of investors who without stereotyping will be those who can just about manage to read a 3" column in the Sun who have not had any education on stocks markets, portfolio management or basic economics who start flustering their money. The sorts of people who lose tens of thousands on the roulette or poker table.
 
Listen, mate. Don't come on here slagging off the price of tulip bulbs. Those things are pure gold, mate. Pure gold. Willy Royalwang says that the price of tulip bulbs is going to the moon and he should know. He predicted the great carrot seed boom of 1986.
 
HeathfieldRoad1874 - 1/9/2017 16:51

Have you got a figure in mind when you will sell, Tubbz?
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I really don't know, to be honest

There is talk they will be worth £100K within 10 years so god knows

I guess I will sell when I'm skint and in need of some cash
 
https://www.independent.co.uk/news/business/news/bitcoin-fraud-tulip-bulbs-jpmorgan-ceo-jamie-dimon-bank-investor-crypto-currency-a7943986.html

Bitcoin “is a fraud” and will blow up, Jamie Dimon, chief executive of JPMorgan, said on Tuesday.

Speaking at a bank investor conference in New York, Dimon said, “The currency isn’t going to work. You can’t have a business where people can invent a currency out of thin air and think that people who are buying it are really smart.”
 
Bank charges and interest were a £2.2billion plus fraud but banks got away with it and are still going strong.

Let's see how TSB truly do away with overdraft fees before somebody from JPMorgan shoots his load because his executive committee didn't come up with the idea of bitcoin.

Banks want us to go cashless as it saves their cost base and admin work....I'll refer judgement.
 
BTC is on a tumble right now $3554 as I type

Keep an eye on it and if it starts to rise again then it might be time to pop a few quid and purchase some

 
I was looking just yesterday, Tubbz. It's bloody hard to buy direct, in the UK though. They need an account with I'd, proof of residence etc. By the time I've done all that, it will have bounced again.
 
If the Chinese are cracking down on it then it's got a way to yet -
(been below $600 in the last 12 months)

fun catching falling knives though
 
I think the Chinese are banning it altogether, aren't they? Reduce demand, and the price has to come down. Simple economics. The two JP Morgan execs giving their opinion didn't help either. One called the whole system a giant pyramid scheme.
 
He's right about it being a pyramid scheme.

Money has value because governments support their own currency. I can use that money to pay taxes etc.

The only thing that I can buy with bitcoin is illegal drugs on dodgy websites.

I can understand why drug dealers love it as it's anonymous but without government support, it has no intrinsic value and will eventually be worth nothing.

Still, if there is such a thing as physical bitcoins, it might be fun to get one to show the grandkids and teach them a bit about market bubbles.
 
bitcoin can actually be used to buy quite a few things these days (and drugs)
(and be of use at plenty of gambling sites and the like)
(if you can cope with the volatility)

it's an interesting concept / technology just need to filter out some of the nonsense that surrounds it
(and the hundreds of other cryptos)
 
HeathfieldRoad1874 - 14/9/2017 16:48

I think the Chinese are banning it altogether, aren't they?
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They look like they are trying to:

BEIJING — A major Chinese exchange specializing in the trading of Bitcoin announced on Thursday that it would stop trading by the end of the month, amid a broader crackdown against virtual currencies by the authorities in Beijing.

The announcement by BTC China, the country’s first and largest digital currency exchange, came days after the Chinese authorities banned fund-raising for new digital currencies, and amid worries that regulators would tighten rules surrounding currencies like Bitcoin.

The exchange’s decision is the first of its kind in China, and it raises the specter of other exchanges shutting down Bitcoin trading in the future.

China has sought to walk a tightrope when it comes to Bitcoin and similar virtual currencies. Whereas the currencies provide the country with a chance to develop new and emerging technologies, officials also worry that they would allow Chinese consumers to get around tough restrictions on how much money they can send overseas and allow them to be used to launder money.
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https://www.nytimes.com/2017/09/14/business/china-bitcoin-exchange.html

 
BringbakMON - 15/9/2017 02:25

bitcoin can actually be used to buy quite a few things these days (and drugs)
(and be of use at plenty of gambling sites and the like)
(if you can cope with the volatility)

it's an interesting concept / technology just need to filter out some of the nonsense that surrounds it
(and the hundreds of other cryptos)
Click to expand...

If I start printing off BB notes and trying to spend them in shops, I'll be laughed out of it or arrested.

If I start BBCoin, I can set the value as I see fit and people might take it seriously.

Fundamentally, there is no difference but because of the internet bubble, BBCoin has a half chance of succeeding.
 
BodyButter - 14/9/2017 18:15

If I start printing off BB notes and trying to spend them in shops, I'll be laughed out of it or arrested.

If I start BBCoin, I can set the value as I see fit and people might take it seriously.

Fundamentally, there is no difference but because of the internet bubble, BBCoin has a half chance of succeeding.
Click to expand...

yep you could do - not sure BBCoin is cutting it as a prestigous trustworthy brand especially when you could splash your load on TiT
https://en.wikipedia.org/wiki/Titcoin

:14:
 
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