Bitcoin discussion and news

[gosub]

The existence of a Bitcoin is created by bitcoin miners, q_w_e_r_t_y

Who creates the existence of a £?

Sarah John

 

[teqniq]

Hackers steal $41 million from cryptocurrency exchange Binance | ZDNet

 

[Yossarian]

Damn it, the price is shooting up again and is now double what it was a couple of months ago, my bitcoin evangelist friend is going to be unbearable.

 

[BigTom]

I wouldn't expect it to last, darknet markets look to be having problems (2 big ones gone last week, along with the main open info site seized by the fbi), so this may be people panic buying drugs, and if there's a gap before new markets come online, that could crash the price.

Still curious as to what % of btc transactions are darknet market related.

This could easily be a big player manipulating the price, and nothing to do with drugs, but my suspicion given the small total number of btc transactions is that the darknet related ones are a significant proportion.

 

[not-bono-ever]

Or the threat of a global trade war and an escalation of the Middle East situation.

 

[q_w_e_r_t_y]

Damn it, the price is shooting up again and is now double what it was a couple of months ago, my bitcoin evangelist friend is going to be unbearable.

Just tell him "the price is the least interesting thing about bitcoin!, with a knowing smile and he will shut up.
I guarantee it

 

[Saul Goodman]

A handful of people own the vast majority of bitcoins, so they can literally dictate its value.
Why people buy into this glorified pyramid scheme is beyond me.

 

[Yossarian]

This seems like a slightly ominous development - I'm going to go on a rampage if anybody ever tries to pay me in FaceBucks.

Facebook will reportedly announce cryptocurrency this month, allowing employees to take it as salary

 

[gosub]

Big banks are launching a blockchain trade platform powered by ‘Bitcoin-like’ token


Thats the logical one for me.
Millon pound notes and all that

 

[joustmaster]

See, something good did come of it.

Besides all the drugs

 

[Ranbay]

If i saved every BTC i spent on drugs i would be a millionare.... and very fucking boring.

 

[keybored]

Damn it, the price is shooting up again and is now double what it was a couple of months ago, my bitcoin evangelist friend is going to be unbearable.

It's jumped from £6k to £8k in the last 12 days. Surely unconnected to the run-up to Glastonbury.

 

[ffsear]

At least someone is acting!

Iran seizes 1,000 Bitcoin miners, says mining with state electricity is a no-no

 

[gosub]

Is getting a bit complicated.
The smart money is out. But it's a bit like how some banks have art works as assets on there balance sheets

 

[UnderOpenSky]

As a very short term thing would buying a few now before we leave the EU make a quick buck?

Not that I'd actually know how to go about selling them easily.

 

[kabbes]

As a very short term thing would buying a few now before we leave the EU make a quick buck?

Not that I'd actually know how to go about selling them easily.

That implies you know what Brexit will entail and what relationship, if any, Bitcoin has to political events. Good luck.

 

[Monkeygrinder's Organ]

As a very short term thing would buying a few now before we leave the EU make a quick buck?

Not that I'd actually know how to go about selling them easily.

No need for bitcoin for that tbh. If you fancy getting into currency speculation and you think Brexit is going to tank the pound (even more) you could buy euro or dollars which are much more stable than bitcoin and don't use a months worth of energy every transaction.

 

[panpete]

Hi, please could I send an experienced bitcoin urbanite a private message about some errors I have made, don't want to post on public forum, thanks.

 

[UnderOpenSky]

I'm far from experienced Pete, but if nobody else responds then I'm happy to try and help where I can.

 

[joustmaster]

Hi, please could I send an experienced bitcoin urbanite a private message about some errors I have made, don't want to post on public forum, thanks.

Sure

 

[panpete]

I'm far from experienced Pete, but if nobody else responds then I'm happy to try and help where I can.

Thanks hope you are not insulted, I pmd JM as you said you are far from experienced. I'm far from experienced also.

 

[panpete]

Sure

Hi JM. I sent you a couple of pm's hope you can make sense of them, i'm off to bed for the night now, it's ok if you are busy at the moment.

 

[UnderOpenSky]

Thanks hope you are not insulted, I pmd JM as you said you are far from experienced. I'm far from experienced also.

God no. They're bloody stupid things

 

[Teaboy]

Personally, I have never owned any cryptocurrency because
1) I don’t understand it well enough
2) it is volatile and seems incredibly easy to manipulate the market
3) I don’t see how it is anything but speculating.

However, I can see a massive addoption of crypto nowadays. So will see

The one thing that really convinces me that this isn't a pyramid scheme is the amount of people who are into it who try and get other people into it. Just spreading the love I guess.

 

[littlebabyjesus]

It's disheartening that its price has shot back up again, but that doesn't change its nature. Madoff kept a pyramid scheme going for decades, so it could keep on for a while yet, destroying the planet as it goes. However, the compelling reason not to have anything to do with bitcoin is its waste. If you're dabbling in this shit, no amount of energy-saving, bicycle riding, recycling, downsizing, diet altering or tree planting can make up for it. You're doing two things - contributing to the destruction of the planet and making a bunch of nasty cunts rich.

 

[joustmaster]

Someone moved a billion dollars worth of coin yesterday.

Speculators are shitting it.

 

[pinkychukkles]

What's the latest scoop on the recent price movement, one of the whales that own over 95% of all BTC sloshing some around the market again?

 

[littlebabyjesus]

What's the latest scoop on the recent price movement, one of the whales that own over 95% of all BTC sloshing some around the market again?

I wouldn't read too much into the ups and downs of btc. It has no fundamentals, so it appears to be hugely sensitive to all kinds of individual events - announcements of intended policy by the Chinese government, stories of corruption, rumours of speculation moves. It's gone down a bit, but it is still an enormous, bloated thing. The internet is full of absolute bullshit about bitcoin, much of it from seemingly 'respectable' financial sources, most of it total fiction.

 

[not-bono-ever]

It’s wank isn’t it ?

Nike Files Trademark Patent for "Cryptokicks," Signaling Its Own Cryptocurrency Launch

Asset backed tokens

Technical foul: Chinese traders in online sneaker market punish NBA after Hong Kong controversy

You can trade yer yeezies risk now.FFS

 

[gosub]

As Bitcoin Halving Dust Settles, Network Awakens to Costly New Reality

Now that the Bitcoin block reward has been halved, BTC’s hash rate and transaction fees are feeling the impact

cointelegraph.com