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Thread: BitCoin etc

  1. #1
    More successful than most Magic's Avatar
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    BitCoin etc

    Ok, so clearly I (we) have missed the boat on the early investments. HOWEVER it appears this shit is only going to get bigger and better.

    Anyone invested so far or thinking about it?

  2. #2
    Senior Member mugbull's Avatar
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    Ethereum's where it's at now mate, although you missed the boat on that one by a few months too

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    More successful than most Magic's Avatar
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    Can anyone let me know about anything I can invest in that hasn't risen by at least 4,000% since the turn of the year?

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    Administrator Kikó's Avatar
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    It's going to be interesting to see how this will be regulated and controlled. We will see if it replaces the current currency or compliments it.

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    Senior Member Boydy's Avatar
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    Your marriage.

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    More successful than most Magic's Avatar
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    Quote Originally Posted by Magic View Post
    Can anyone let me know about anything I can invest in that hasn't risen by at least 4,000% since the turn of the year?
    That will rise to 4000% by the end of the year and not plummet in to oblivion.

    Just in case that wasn't initially clear.

    @Boydy

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    Won the Old Board Lewis's Avatar
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    I reckon it will always be a bit of a fringe interest. There will presumably be a few nutters who live by it, but most of its use will forever be confined to dweebs ordering drugs and pizza (at the same time).

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    What can one actually use Bitcoins for?

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    Senior Member mugbull's Avatar
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    Quote Originally Posted by Kikó View Post
    It's going to be interesting to see how this will be regulated and controlled. We will see if it replaces the current currency or compliments it.
    Quote Originally Posted by Lewis View Post
    I reckon it will always be a bit of a fringe interest. There will presumably be a few nutters who live by it, but most of its use will forever be confined to dweebs ordering drugs and pizza (at the same time).
    Yeah it might well be, which is why Ethereum is such a cool development. The blockchain is really wonderful technology, and even if Bitcoin won't ever replace traditional fiat currency there are other use cases of the algorithms it was built on top of that might become very impactful

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    Senior Member Offshore Toon's Avatar
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    Me and my mates lost £460 worth of Bitcoin due to AlphaBay getting shut down by THE FEDS. I am interested in this pizza ordering, though, assuming it doesn't run the same risks.

  11. #11
    ram it up your shitpipe Giggles's Avatar
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    I don't understand any of it and am very happy not knowing. Never was a gambler.

  12. #12
    DEATH TO THE WEIRD Raoul Duke's Avatar
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    My mate has gone in on BitCoin, LiteCoin and Ethereum (the latter two before they picked up), but overall I think he's profit neutral as it fluctuates so wildly.

    I can't claim to entirely understand it, but blockchain has some interesting applications beyond buying MDMA

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    Administrator Kikó's Avatar
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    Block chain should allow same day settlement from a financial perspective. It will also allow who needs to know, the chain the money has gone through (so if someone steals your currency, the log shows it).

    The really interesting thing coming up is PDS2 which should allow for open banking. Basically, third parties can access your private data with your permission. This could mean you have one app that allows you to see across the different places you have money, see your credit score, apply for mortgages with a complete picture etc. It's interesting for me at least.

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    Senior Member Offshore Toon's Avatar
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    Quote Originally Posted by Raoul Duke View Post
    My mate has gone in on BitCoin, LiteCoin and Ethereum (the latter two before they picked up), but overall I think he's profit neutral as it fluctuates so wildly.

    I can't claim to entirely understand it, but blockchain has some interesting applications beyond buying MDMA
    MDMA is for children.

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    Senior Member Lofty's Avatar
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    Bitcoin was invented for anonymous transactions without fees. Now they're on about implementing fees, the price is jacked by large scale mining operations and poor speculators circle jerking over the future profits.

  16. #16
    Senior Member mugbull's Avatar
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    Fees were always built into the tech, and it was always predicted that fees would eventually become the main source of monetary gain for BitCoin active users. Still, it's a better system than the mining imo which is donkey dick retarded

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    Senior Member niko_cee's Avatar
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    This company are quite interesting. Newly listed/licensed Alderney gaming companies have a tendency to fly (to an extent) in their infancy (and beyond) - for example this mob. I had a punt on them at 19c back in December and they've been doing alright. Obviously fairly risky, but they have their 'thing' up and running now and they have some fairly serious backers. Don't blame me if they make off with all your cash. There's a good chance they're bogans. Probably better in here (or the betting one) than the finances thread.

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    Senior Member Spoonsky's Avatar
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    Quote Originally Posted by Giggles View Post
    I don't understand any of it and am very happy not knowing. Never was a gambler.
    For once we're in the same boat. My friends talk about it and it seems vaguely interesting but I really can't bring myself to care.

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    More successful than most Magic's Avatar
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    Quote Originally Posted by niko_cee View Post
    This company are quite interesting. Newly listed/licensed Alderney gaming companies have a tendency to fly (to an extent) in their infancy (and beyond) - for example this mob. I had a punt on them at 19c back in December and they've been doing alright. Obviously fairly risky, but they have their 'thing' up and running now and they have some fairly serious backers. Don't blame me if they make off with all your cash. There's a good chance they're bogans. Probably better in here (or the betting one) than the finances thread.
    How much?

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    Senior Member niko_cee's Avatar
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    How much what?

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    Senior Member Bernanke's Avatar
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    10k a piece.

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    Custom User Title phonics's Avatar
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    My cousin gave me 23 of the fuckers back when you could buy drugs on there. Whoops.

  23. #23
    Senior Member niko_cee's Avatar
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    I've got a digital wallet somewhere, but fuck knows if it has anything in it (I doubt it has much). Then again, I was accumulating them when they were a few hundred bucks a pop so even a fraction of one is probably worth a fair bit now. I wonder how much of the block chain is accounted for in dormant e-wallets.

  24. #24
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    In the time it has taken me to procure a cold wallet for storage the price has risen from 8000 to 10000

    It's a total bubble though. Some of the alt coins are piss takes yet have millions of dollars behind them.

  25. #25
    Isn't he banned? Baz's Avatar
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    Token referral link.

    ^Thats for anyone wanting to set up a wallet.

    Whereas this is for anyone wanting to start mining.
    I'm a twit

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    Won the Old Board Lewis's Avatar
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    I sold mine when they were at five grand to buy AOL shares.

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    Senior Member Boydy's Avatar
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    Mining on your own is completely pointless now, isn't it?

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    Senior Member mugbull's Avatar
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    Yep.

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    Isn't he banned? Baz's Avatar
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    Quote Originally Posted by Boydy View Post
    Mining on your own is completely pointless now, isn't it?
    Depends what machines you have at your disposal.
    I'm a twit

  30. #30
    Custom User Title phonics's Avatar
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    I love that 'Preppers' are now changing all of their gold into BitCoin.

    Yeah because at the end of the world, what you want is a cryptocurrency based on a peer to peer network over the internet.

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    Senior Member Mazuuurk's Avatar
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    In fairness, you probably don't want a bunch of gold lying around either.

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    Administrator Kikó's Avatar
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    It's going to end in tears but imagine if you'd got in at the start...

    State backed crypto currencies will be where bitcoin and others will eventually die

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    Senior Member niko_cee's Avatar
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    Thing is, short of agreeing to buy one of the houses in London listed in bitcoin, is there any way to withdraw serious amounts of it? Aren't most of the exchanges limited to 1 coin a day, at most, into actual money (I assume USD)? Now, that's still a good amount, but if you have made it seriously out of this, I still don't really see how you monetize it properly. Can you sell them at heavily discounted rates en masse to the ETFs that deal in them? That's probably where the real money is, as ever. Fucking parasitic middle men.

  34. #34
    DEATH TO THE WEIRD Raoul Duke's Avatar
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    Quote Originally Posted by niko_cee View Post
    Thing is, short of agreeing to buy one of the houses in London listed in bitcoin, is there any way to withdraw serious amounts of it? Aren't most of the exchanges limited to 1 coin a day, at most, into actual money (I assume USD)? Now, that's still a good amount, but if you have made it seriously out of this, I still don't really see how you monetize it properly. Can you sell them at heavily discounted rates en masse to the ETFs that deal in them? That's probably where the real money is, as ever. Fucking parasitic middle men.
    There's some limits but you can still get enough out. There was a Reddit thread I saw the other day on some guy who got out with about $200k

  35. #35
    Administrator Kikó's Avatar
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    Like all markets, it's based on faith in the market. Once that's gone, it'll crash rapidly.

  36. #36
    Isn't he banned? Baz's Avatar
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    I'm a twit

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    Senior Member The Merse's Avatar
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    Quote Originally Posted by Kikó View Post
    It's going to end in tears but imagine if you'd got in at the start...

    State backed crypto currencies will be where bitcoin and others will eventually die
    Or bank-backed. XRP is doing tidily enough for me at the moment.

    Had I only kept the 35 BTC I spent on fucking retro video games in 2011

    Tbf. I'd only have sold at £10 a pop or so, tenfold profit would have had me shitting myself so there's no way I'd have lasted.

  38. #38
    Senior Member Lofty's Avatar
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    Quote Originally Posted by Baz View Post
    That is a lazy photoshop.

    No point crying over spent Bitcoin, likelyhood if you keeping it this long without forgetting the password/having them stolen is slim.

  39. #39
    Isn't he banned? Baz's Avatar
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    I'm a twit

  40. #40
    Senior Member Bernanke's Avatar
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    So I decided to chuck 500 euros worth of betting money into a few alt-coins a couple of weeks back, and it's now trading at 1500 in total.

    Next stop, Lambo.

  41. #41
    Senior Member Lofty's Avatar
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    Quote Originally Posted by Bernanke View Post
    So I decided to chuck 500 euros worth of betting money into a few alt-coins a couple of weeks back, and it's now trading at 1500 in total.

    Next stop, Lambo.
    Cash out your initial €500 investment and then it’s all gravy whatever happens.

  42. #42
    Senior Member The Merse's Avatar
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    135% return on my Ripple. In for the long haul, mind. Playing Ethereum for short term trades.

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    Won the Old Board Lewis's Avatar
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    Good month lads.

  44. #44
    Senior Member -james-'s Avatar
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    I mean, seventy odd percent return ain't too bad.

  45. #45
    Won the Old Board Lewis's Avatar
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    Since I posted that it went down another grand and then recovered.

  46. #46
    Administrator Kikó's Avatar
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    It's probably levelling due to the futures being introduced. And bitcoin exchanges have been hacked so not surprised.

  47. #47
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    I'm bottled it and got out for a slight loss.

    It's been basically plummeting in market cap over the last 2 days. Opted to go to the gym earlier after I figured it had settled. Nope. Dropped another 15%.

    Lesson learned.

  48. #48
    Senior Member Pepe's Avatar
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    The whole block-chain technology thing seems like it could be useful for, erm, something, but since Bitcoin is merely being used for speculation right now, it will most definitely end in tears.

  49. #49
    Senior Member Pepe's Avatar
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    Or so I'd think, I know fuck all to be honest.

  50. #50
    Senior Member -james-'s Avatar
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    Quote Originally Posted by Lewis View Post
    Since I posted that it went down another grand and then recovered.
    I do struggle to see how any opinion on it as an "investment" can be anything beyond guesswork.

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