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Thread: BitCoin etc

  1. #101
    Administrator Kikó's Avatar
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    What caused it to rise so much?

  2. #102
    Senior Member Adamski's Avatar
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    Quote Originally Posted by Mike View Post
    What’s caused it to fall so much?
    They think it’s your average person that’s slightly more clever than Magic becoming casual investors recently then panicking during pump and dumps from large investors or hedge funds. So the price keeps tanking and they keep withdrawing to at least get something back. Once the price gets low enough the hedge funds will come back in to drive the price back up and away it goes again. That’s my theory anyway.

    One of the coins I’m in was at $0.75 in September and hit a high of $40 a fortnight ago. I took a fair whack out at $37 and it’s now sitting at around $19.

  3. #103
    Administrator Kikó's Avatar
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    They're also being shut out in China and potentially India. It'll balance out again.

  4. #104
    More successful than most Magic's Avatar
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    It's also not real/recognised currency.

    But the other stuff, that's why it's mental. Yep.

  5. #105
    Senior Member Adamski's Avatar
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    Quote Originally Posted by Magic View Post
    It's also not real/recognised currency.

    But the other stuff, that's why it's mental. Yep.
    I’ve taken actual money out of it and it’s sitting in my bank account.

    Must you always have an opinion on things you know absolutely fuck all about?

  6. #106
    Senior Member Pepe's Avatar
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    Yeah Magic mate, at least read some blogs before posting.

  7. #107
    Senior Member Jimmy Floyd's Avatar
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    They ban their own currency fairly regularly in India, never mind cyber currencies.

  8. #108
    Administrator Kikó's Avatar
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    Well that's not absolutely true. They knocked out the highest dominated note to try and get people into the actual banking system. It's like them banning £1 coins in the 90s. We'd be fucked.

  9. #109
    More successful than most Magic's Avatar
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    If only all of us talked about stuff we were experts about. Only Harold could talk with any sense of authority.

  10. #110
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    There's something afoot in many banking sectors at the moment. There's widespread fear about interest rates and shares around the world are dipping. Crypto, seen as a high risk investment at the off-set, is always going to be hit pretty hard by that.

    I've still got all of what I originally owned and had put a small amount more available to buy in the dip - just not sure we've hit the bottom yet by any means.

    If it disintegrates into nothing? So be it - I knew that at the start.

    If there's a big market correction in general stocks and shares I'll have a think about ploughing some money into some companies/industries I think will bounce back.

  11. #111
    Won the Old Board Lewis's Avatar
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    Who was it who put the TTH experts list together years ago? Panda?

    'I am a football expert me.'

  12. #112
    Man(c) of the People igor_balis's Avatar
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    i'm an expert at eating ass

  13. #113
    Man(c) of the People igor_balis's Avatar
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    i also just found out that the £30 of bitcoin i had ages ago would have been worth £200 now which is slightly annoying

  14. #114
    More successful than most Magic's Avatar
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    Quote Originally Posted by igor_balis View Post
    i also just found out that the £30 of bitcoin i had ages ago would have been worth £200 now which is slightly annoying
    Now worth £150.

  15. #115
    More successful than most Magic's Avatar
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    £120

  16. #116
    More successful than most Magic's Avatar
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    £125

  17. #117
    More successful than most Magic's Avatar
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    -£125

  18. #118
    Senior Member Lofty's Avatar
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    Quote Originally Posted by Adamski View Post
    I’ve taken actual money out of it and it’s sitting in my bank account.

    Must you always have an opinion on things you know absolutely fuck all about?
    You taking actual money out of it that’s sat in your bank account doesn’t make bitcoin a real/recognised currency. I sold a Stephen King Proof Copy for £500 on eBay, I wouldn’t class Stephen King Proof Copies as currency.

    Cryptocurrency is useless for what it is actually designed as, at least in its current form. It is a commodity that can be invested in and profited from, at least at high risk. The long term problem for crypto is the main people buying it/inflating the value are speculators looking to make a profit, not true believers trying to buy a coffee with it. But unlike other commodities, it has no other use to cement its value. True believers always go on about fiat currencies and gold, but gold at least has some use beyond jewellery. In fact every commodity you can think of that could be a financial investment tends to have a few different uses.

    Cryptocurrency is never going to supplant normal currency until you no longer need to do the math on what the exchange rate on fiat money is anymore. Good luck to anyone who manages to make profit from it, but it really is just digital beanie babies.

  19. #119
    More successful than most Magic's Avatar
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    That's my point, allbeit more eloquently put.

  20. #120
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    Quote Originally Posted by Lofty View Post
    You taking actual money out of it that’s sat in your bank account doesn’t make bitcoin a real/recognised currency. I sold a Stephen King Proof Copy for £500 on eBay, I wouldn’t class Stephen King Proof Copies as currency.

    Cryptocurrency is useless for what it is actually designed as, at least in its current form. It is a commodity that can be invested in and profited from, at least at high risk. The long term problem for crypto is the main people buying it/inflating the value are speculators looking to make a profit, not true believers trying to buy a coffee with it. But unlike other commodities, it has no other use to cement its value. True believers always go on about fiat currencies and gold, but gold at least has some use beyond jewellery. In fact every commodity you can think of that could be a financial investment tends to have a few different uses.

    Cryptocurrency is never going to supplant normal currency until you no longer need to do the math on what the exchange rate on fiat money is anymore. Good luck to anyone who manages to make profit from it, but it really is just digital beanie babies.
    For the most part there's significant flaws, but the technology behind it definitely has a future.

    Right now there's serious hurdles to overcome, mainly convincing governments it has a valid use. There's no reason it can't be used in tandem with fiat currency and would break down some the 'VISA' dominance we've got at the moment. It's effectively one step towards having a universal currency that you can use quickly and easily wherever you are with minimal fees. The issues with 'tax' should really be addressed when it's used for a purchase, the retailer just needs a mechanism to easily record the transaction.

    That's a long, long way off though and right now as you've said it's basically being used as a market manipulation tool and to effectively launder money anonymously.

    I'm interested to see how it will all play out. First movers rarely win the long term game because of the flaws they have to iron out along the way, but if Venezuela truly adopt the 'Petro' and it finds a use in their society, I think we'll see digital currency being used elsewhere in the coming years.

    Unfortunately, right now it's far, far too difficult for the general public to understand it's an absolute nightmare to actually 'buy' some of the alt coins never mind use them. The space really needs something like OmiseGo / TenX / Bread / Monaco to find legitimate use.

    Unless Bitcoin resolves it's scaling issues and transaction times/fees it's doomed. What's more likely is Visa copying the idea and finding a better way to implement it. I'd be shocked if there weren't many major companies out there dabbling in their R&D department how to implement blockchain effectively.

  21. #121
    Administrator Kikó's Avatar
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    Crypto currency will become currency when it's backed by the nation state governments. Ledger technology will settle derivatives rapidly and the blockchain will become common place.

    Crypto is good for money laundering at the mo.

  22. #122
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    Good summary Keeks. Thanks for paraphrasing.

  23. #123
    Senior Member Lofty's Avatar
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    When the larger nation states adopt Crypto they won’t be adopting an existing one that makes the guy who bought the dog dick coffee table with his first bitcoin king of the world, as the true believers hope.

    They’ll make their own proper one that ensures the status quo with regards to the distribution of wealth. I agree it’s interesting in that regard and do not doubt at all that is where things are heading regarding day to day spending all the way up to big ticket purchases.

    Just read something from one of the crypto Reddit’s about a guy who started with $100,000 and got up to $1,000,000 pre-Christmas. Wiped down to $550,000 after the last few weeks, which would still be a nice haul except he now owes capital gains tax of $450,000

  24. #124
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    Quote Originally Posted by Lofty View Post
    When the larger nation states adopt Crypto they won’t be adopting an existing one that makes the guy who bought the dog dick coffee table with his first bitcoin king of the world, as the true believers hope.

    They’ll make their own proper one that ensures the status quo with regards to the distribution of wealth. I agree it’s interesting in that regard and do not doubt at all that is where things are heading regarding day to day spending all the way up to big ticket purchases.

    Just read something from one of the crypto Reddit’s about a guy who started with $100,000 and got up to $1,000,000 pre-Christmas. Wiped down to $550,000 after the last few weeks, which would still be a nice haul except he now owes capital gains tax of $450,000
    Yeah, agree with the top point - hence Venezuela inventing their own. Some of the 'platforms' i.e. Ethereum / EoS etc. might well survive but a lot of the similar, ultimately pointless coins will cease.

    The bottom bit sounds like bollocks.

    Japan seems pretty open to this sort of shit, and they're a nation who seem to love tech pish so maybe it'll find a niche there. Same with those 'shithole' african countries Donald Trump seems to hate.

  25. #125
    Senior Member Spikey M's Avatar
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    I had a few grand in a savings account so I've decided to dip my toe in this. Just bought £2300 worth of OneCoin.

  26. #126
    Administrator Kikó's Avatar
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    RIP your money.

  27. #127
    Bookie Sir Andy Mahowry's Avatar
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    Quote Originally Posted by Spikey M View Post
    I had a few grand in a savings account so I've decided to dip my toe in this. Just bought £2300 worth of OneCoin.
    Have you really? If so, lol.

  28. #128
    Senior Member mugbull's Avatar
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    OneCoin like the Ponzi scheme?

  29. #129
    Senior Member Offshore Toon's Avatar
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    Its obvs a bit of bants to kick off our Saturday nights.

  30. #130
    Senior Member Spikey M's Avatar
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    I have been listening to the 'Cryptoqueen' podcast and this shit had completely passed me by. How the fuck can they still have offices open within the EU, the ability to advertise and a website that comes up on Google? They have 1 of the ringleaders banged up in America and the FBI are after the other, who disappeared 3 years ago. They've literally scammed billions and they're still going.

    Mental.

  31. #131
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    I've got an account with £100 in. £50 on Ripple, £50 on BitCoin. Just to get a feel tbh. Nothing's really happened.

    Just seems like a platform to run dirty money through, not that I have the first clue how to do that.

  32. #132
    Administrator Kikó's Avatar
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    It's a complete Ponzi. Nation backed crypto currencies will come at some point but this is all speculation.

  33. #133
    Senior Member Spikey M's Avatar
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    What's a Ponzi? Crypto or OneCoin?

    Calling OneCoin a Ponzi would be kind in the extreme.

  34. #134
    Senior Member -james-'s Avatar
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    You're better off investing your cash on the roulette wheel than any sort of cryptocurrency.

  35. #135
    Administrator Kikó's Avatar
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    Quote Originally Posted by Spikey M View Post
    What's a Ponzi? Crypto or OneCoin?

    Calling OneCoin a Ponzi would be kind in the extreme.
    Crypto.

  36. #136
    Senior Member Offshore Toon's Avatar
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    Crypto does seem a bit like trading for stoners.

  37. #137
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    I should probably check if I still own this stuff or if it is lost or stolen. It was not a sound investment. Thankfully it was Pocket change in the grand scheme of things.

  38. #138
    Senior Member mugbull's Avatar
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    Quote Originally Posted by Offshore Toon View Post
    Crypto does seem a bit like trading for stoners.
    One guy I know built an app in high school, made something like $50k out of it, then invested the whole sum in Ethereum (way back in its infancy) and is now worth $20 mil. He also painted swastikas all over the Jewish community center so there's that.

  39. #139
    Now in technicolor Pen's Avatar
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    I’ve never met anyone who has made money out of this, but every idiot has a ’mate’ who has made a fortune with cryptocurrency.

    So, yeah. I call bollocks.

  40. #140
    Senior Member Spikey M's Avatar
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    Last month on 25/10 the price of 1 bitcoin went from £5761 to £7583 in 12 hours. You absolutely can make money doing it, but it's basically gambling and the opposite can happen just as easily. The only advantage it has over gambling is that you still own the coins after a price drop, and the price will (probably) go back up.

  41. #141
    Pretty Much Amazing Mike's Avatar
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    I have £32 in bitcoin, I bought £25.

  42. #142
    Webly Ian's Avatar
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    Aye alright, Rockerfeller.

  43. #143
    Isn't he banned? Baz's Avatar
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    Seen this doing the rounds. Free money on Coinbase, essentially. Edited to include my referral links, obviously. If you don't want to use my referral links, you can search for the quizzes.



    Does anyone use coinbase.com and wants to make some really quick legit money by answering some questions ? EARN 50UGBP 100GBP or more!


    Hey there, this is a pretty easy method. Coinbase is basically offering free coin for watching their lessons and answering a quick quiz. I'll send you my referral links and the answers to the questions and you'll be able to finish it in under 10 min.


    XLM

    https://coinbase.com/earn/xlm/invite/yt4jwr15


    Answer No. 1: A decentralized protocol that unites the worlds financial infrastructure

    Answer No. 2: Facilitating low-cost, universal payments.

    Answer No. 3: Transactions are fast, inexpensive, and global

    Answer No. 4: To issue, exchange, and transfer tokens quickly and efficiently

    Answer No. 5: It relies on the cooperation of trusted nodes to confirm transactions.

    Total: £10+


    EOS

    https://coinbase.com/earn/eos/invite/td07yb21


    Answer No. 1: A blockchain protocol for fast, scalable applications

    Answer No. 2: Delegated proof of stake

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    Total: £10+


    COMP

    https://coinbase.com/earn/comp/invite/fs5trxzk


    Answer No. 1: Earning interest

    Answer No. 2: Supply a crypto asset as collateral

    Answer No. 3: COMP token holders

    Total: £9+


    Use those answers in the quizzes, and if you'd like to, convert the coins to btc and you'll have at least £50 in less than 10 min. You can also make an extra £15 from the other quizzes that don't have referral codes. You don't have to do it right now, but be careful for the coins not to run out. I was going to do the quiz for Orchid today and they've run out of free coin to offer.


    ALGO


    How does Algorand solve the blockchain trilemma?

    By being scalable, secure, and decentralized

    In Pure Proof-of-Stake, who gets to propose the next block?

    A randomly selected ALGO token

    What is an Algorand token called?

    Algorand Standard Asset (ASA)


    MKR

    What are the native assets of the Maker protocol?

    MKR and DAI

    Who runs MakerDAO?

    MKR holders

    What do you need to generate DAI today?

    A crypto wallet and crypto collateral


    CELO

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    Using the Valora mobile app


    Enjoy making some very easy quick bucks!!!



    Hope it helps someone.

    I'm a twit

  44. #144
    Senior Member Spikey M's Avatar
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    Anyone fancy a little ride on the (probable) Pyramid Scheme train?

    A new crypto is due to start trading next year, but you can "mine" it now from your mobile. It's not actually mining anything, it's just a counter, but hey, potential free money. Or potential free nothing. Time will tell.

    Anyway, if you fancy a go / pushing me up the pyramid then you just download "Pi Network" from the App store and use SpikeyM as your invitation code.

    G'wan Baz lad.

  45. #145
    Senior Member Boydy's Avatar
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    Quote Originally Posted by Spikey M View Post
    Anyone fancy a little ride on the (probable) Pyramid Scheme train?

    A new crypto is due to start trading next year, but you can "mine" it now from your mobile. It's not actually mining anything, it's just a counter, but hey, potential free money. Or potential free nothing. Time will tell.

    Anyway, if you fancy a go / pushing me up the pyramid then you just download "Pi Network" from the App store and use SpikeyM as your invitation code.

    G'wan Baz lad.
    What permissions does it ask for when you install it?

  46. #146
    Senior Member Spikey M's Avatar
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    Quote Originally Posted by Boydy View Post
    What permissions does it ask for when you install it?
    None. It just asks to verify your Facebook or phone number (I did phone no) and asks what your name is.

  47. #147
    Isn't he banned? Baz's Avatar
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    Quote Originally Posted by Spikey M View Post
    Anyone fancy a little ride on the (probable) Pyramid Scheme train?

    A new crypto is due to start trading next year, but you can "mine" it now from your mobile. It's not actually mining anything, it's just a counter, but hey, potential free money. Or potential free nothing. Time will tell.

    Anyway, if you fancy a go / pushing me up the pyramid then you just download "Pi Network" from the App store and use SpikeyM as your invitation code.

    G'wan Baz lad.
    been doing it a few weeks already

    I am sending you 1π! Pi is a new digital currency developed by Stanford PhDs, with over 10 million members worldwide. To claim your Pi, follow this link https://minepi.com/baz9 and use my username (baz9) as your invitation code.

    Scam though, I think: https://zephyrnet.com/project-review...oject-in-town/

    By the way you’re a mug if you didn’t do that Coinbase quiz thing above. Literally a free £100. Do it now and post your links. Each link can only be done 4 times til you’re maxed out in terms of commission so if you plan it well, a group of you can all end up £100 up. I did it in a discord server I’m in and about 100 people ended up maxing out their links. Not sure if it’s still being offered now though.
    Last edited by Baz; 20-12-2020 at 05:54 PM.
    I'm a twit

  48. #148
    Senior Member Spikey M's Avatar
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    It says it needs a load of permissions, but it only asked for permission to see my contacts for referral purposes and I said no. It doesn't have permission to do anything.

    I did the tests a while back, but never did the referral side of things though.
    Last edited by Spikey M; 20-12-2020 at 06:15 PM.

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