Bitcoin and other Crypto...

[TheHowieLama]

I have buried a 20 dollar bill in the backyard -- pretty sure that thing is gonna be worth 20 bucks in a few years.

[Captain Turdseye]

1 hour ago, TheHowieLama said:

I have buried a 20 dollar bill in the backyard -- pretty sure that thing is gonna be worth 20 bucks in a few years.

 

You say that but the 50 smackers I invested hit a high of almost £59. 

 

I decided to hold onto them and they’re now worth £41. 

 

Bidness. 

[Dougie Do'ins]

Quadriga: Lawyers for users of bankrupt crypto firm seek exhumation of founder

 

https://www.bbc.co.uk/news/world-us-canada-50751899

[TheHowieLama]

[Gooch]

Buy Tezos and get rich, currently $1.60ish at the moment. Will be the next etheruem this time next year. 

[Dougie Do'ins]

Say Goodbye to Banking as We Know It

China is poised to launch the first national digital currency. There will be no counting the disruption. 

 

https://www.bloomberg.com/amp/opinion/articles/2019-12-29/china-has-edge-over-silicon-valley-to-end-banking-as-we-know-it?__twitter_impression=true

[Captain Turdseye]

Weird stuff happening today. My phone has been pinging non-stop with notifications from Coinbase telling me that all the cryptos are going through the roof. Had to laugh at this one earlier. Some coincidence, eh?

 

[Dougie Do'ins]

No millionaires yet ?

[Captain Turdseye]

3 hours ago, Dougie Do'ins said:

No millionaires yet ?

My initial £50 ‘investment’ is sitting pretty at £53.55. 
 

Slow and steady wins the race. 

[Dr Arthur De Sabre]

So did any of you bellends take my advice as regards brave browser? I am today holding $25 odd of BAT, whilst not enough to buy a car or even a decent shirt, it’s wedge in my pocket from advertising and not the googleplex.

 

 

[Captain Turdseye]

They’ve all rocketed for the last week or so. I put an extra tenner in and my £60 is at £75. I fucked up by paying a few fees to sell one and buy others before I realised that you could trade them without being charged, so it should have been more really. Just had a look on there and they all seem to be crashing today. I’m gonna wait for Bitcoin to come back down a bit, put another £40 in to round it up and forget about it for a while. 

[Bjornebye]

https://www.irishtimes.com/news/crime-and-law/drug-dealer-loses-codes-for-53-6m-bitcoin-accounts-1.4180182

 

 

[Captain Turdseye]

The arse appears to have fallen out of it. Each and every crypto currency is in a race to the bottom. 

[Strontium]

Whoever could have imagined that these fake currencies with no intrinsic value and nothing but smoke and mirrors to support them would collapse into worthlessness?

[Bjornebye]

15 minutes ago, Strontium Dog™ said:

Whoever could have imagined that these fake currencies with no intrinsic value and nothing but smoke and mirrors to support them would collapse into worthlessness?

Max Keiser. 

[Dougie Do'ins]

5 hours ago, Captain Turdseye said:

The arse appears to have fallen out of it. Each and every crypto currency is in a race to the bottom. 

Not according to the myriad of emails I get on a daily basis. I'm so convinced it's my way to the top of the financial ladder, I'm going to stop sending funds to some stranger in Africa who's promised me untold wealth if I help him to access millions of pounds and go all in on bitcoin instead.

[Captain Turdseye]

20 hours ago, Dougie Do'ins said:

Not according to the myriad of emails I get on a daily basis. I'm so convinced it's my way to the top of the financial ladder, I'm going to stop sending funds to some stranger in Africa who's promised me untold wealth if I help him to access millions of pounds and go all in on bitcoin instead.

If you’re happy to sit there and watch as I become a billionaire then that’s your prerogative. 
 

21 hours ago, Strontium Dog™ said:

Whoever could have imagined that these fake currencies with no intrinsic value and nothing but smoke and mirrors to support them would collapse into worthlessness?

 

The thing is though, it’ll bottom out shortly and then steadily rise again. There’s easy money to made if you’ve got any idea what you’re doing. Unfortunately I haven’t. I should have got out with my £13 profit but now I’ve got to wait for it to rise again. In the meantime I’m selling my car and my TV so I’ve got the cash ready to hit the jackpot. 

[SasaS]

So, crypto is down, stocks are down, bonds are down, gold is down, oil is down. Where is all the (Coutinho) money?

[Captain Turdseye]

18 minutes ago, SasaS said:

So, crypto is down, stocks are down, bonds are down, gold is down, oil is down. Where is all the (Coutinho) money?

Face masks and hand wash. The currency of the future. 

[Dougie Do'ins]

Where's the crypto money Bill ?

[Spy Bee]

On 26/02/2020 at 18:42, Strontium Dog™ said:

Whoever could have imagined that these fake currencies with no intrinsic value and nothing but smoke and mirrors to support them would collapse into worthlessness?

You mean kind of like sterling?

[Strontium]

The UK is a multi trillion dollar economy; sterling represents, at least in part, the value of all the goods and services we produce in this country, backed up by a pretty hefty central bank.

[Spy Bee]

11 minutes ago, Strontium Dog™ said:

The UK is a multi trillion dollar economy; sterling represents, at least in part, the value of all the goods and services we produce in this country, backed up by a pretty hefty central bank.

But not backed up by gold any more & print more of it whenever they choose to devalue the currency. It's obviously miles more stable than BTC at the moment, but that underpinnings are no stronger and it might well not always be that way.

[Strontium]

All currency depends to some extent on people believing that it has value, but there is something "real" about hard currency. So you might mow someone's lawn and get £20, and that money represents the value of your labour; then you buy a pub lunch with the money, so you're essentially trading the value of your labour for the value of the food and the labour of the person who produced it. This is the problem with cryptocurrency as I see it, which is that it doesn't even pretend to represent anything tangible.

[Spy Bee]

Fair comments as a generic critique. BTC has also become a store of value, as it's not regularly traded... people just know that the long term trend is upward. XRP which is pretty corporate owned is really efficient and fast for payments, so that could have some long term value, but then just because the protocol is effective, that doesn't necessarily give the coins value. There's a lot of nuance, but in the long term, all currency will likely be digital in one way or another, and if you can back a winner, there is probably a lot of money to be made.