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Bitcoin discussion and news

Mapped said:
I can't be doing with SR, I don't care about TOR (absolute pain in the backside to use), it's way too in the open and bitcoins are a headache to deal with IMO.
.
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It's pretty slow, but the tor browser makes it easy to use. What's difficult?
 
Idaho said:
It's pretty slow, but the tor browser makes it easy to use. What's difficult?
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With TOR, the slowness is the only problem for me. With BC actually getting them seemed to be a pain in the arse. With SR everything is very overpriced
 
Mapped said:
With TOR, the slowness is the only problem for me. With BC actually getting them seemed to be a pain in the arse. With SR everything is very overpriced
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I think you are one of those people who are never happy. This is too slow, that is tooexpensive, the other is too difficult...
 
Idaho said:
I think you are one of those people who are never happy. This is too slow, that is tooexpensive, the other is too difficult...
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:D I've just woken up after fuck all sleep with a massive hangover, so I'm not too cheery this morning.

I do actually need to get my hands on some BC soon, for something that doesn't involve TOR or SR. So I'll probably be back for some research.
 
I think there is a futures market. But futures of bitcoin will be even more risky than bitcoin itself.
 
not-bono-ever said:
can you short bitcoin ?

If you are sitting on a wedge of realisable cash, I would be wary of the bubble bursting. Bird in hand etc,
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I dont think it can because it cant just be 'printed' it is *ahem* mined which takes resources. As for reliable cash, if more is printed then it buys you less and not very much if the currency collapses.

The bond market is at a 300 year high so thats not a bubble thats about to burst. Except for that britains credit rating has been downgraded..

I think short selling requires a 'loan' of the stock so if someone would loan you bitcons then yes probably but I doubt anyone would

EDIT:

I am talking about naked short selling(I think, I am no expert)
 
I don think it is a pyramid scheme because there are a finite number of bitcoins available, about 21,000,000 I think. I am fairly sure it will be ubiquitous in the next 3 years. Then again I dont own any:(

You pays your money and takes your choice.... ... .. .
 
I guess for it to grow it would need a major retailer to accept it, someone like amazon. But then again having a player like them in the market would unbalance it.

I'd like to see some volume data relative to price. I see the price now is at £49, for all we know that could be for 1 bitcoin offered
 
junglevip said:
I don think it is a pyramid scheme because there are a finite number of bitcoins available, about 21,000,000 I think. I am fairly sure it will be ubiquitous in the next 3 years. Then again I dont own any:(

You pays your money and takes your choice.... ... .. .
Click to expand...

There is a finite number of bit coins, but each bit coin can be divided up to 8 decimal places. So 0.00000001 of each can be bought and sold, so thats nearly 2,100,000,000 fractions of a coin before it starts getting messy. Nothing to stop people creating Bitcoin2 using the btc code. Get enough reliable servers out there and bang, another 21 million coins.

The tip really is never hold onto them for too long unless you want to speculate so their value isn't that relevant.
 
Sunray said:
There is a finite number of bit coins, but each bit coin can be divided up to 8 decimal places. So 0.00000001 of each can be bought and sold, so thats nearly 2,100,000,000 fractions of a coin before it starts getting messy. Nothing to stop people creating Bitcoin2 using the btc code. Get enough reliable servers out there and bang, another 21 million coins.

The tip really is never hold onto them for too long unless you want to speculate so their value isn't that relevant.
Click to expand...

Its not the only crypto currency iirc but its seems to be the flavor with the momentum. An explanation of the tip would be nice:)
 
The thing that gets me is if I was in Cyprus and my assets totaled about £2000 equivalent, would I prefer to hold it in euro, bitcoin, sterling, silver, or gold?

I am too chicken and would probably go with the same as everyone but I'd be interested in arguments for and against

EDIT:

I'd probably go with hashish actually, it been in a bull run for about 50 years now, possibly longer:D
 
junglevip

If you fancy taking a punt for the sake of speculation look at it just as that. It's a gamble as much as an investment. If you can't afford to loose any money leave them well alone. You can buy them from https://localbitcoins.com/

Your Bitcoin wallet take a while to sort out. You need to download 7gb of transaction data for it to be up to date. Do this first.

I've got a bit of spare cash so I 'invested' £200 into them a while ago. They have made a very good return and I've recently cashed my initial investment as I think their current price is very much a bubble. However I'm still keeping profits from my investment in Bitcoins, partly out of interest and partly as it's been a lucrative investment so far and you never know what may happen.
 
fredfelt said:
junglevip

If you fancy taking a punt for the sake of speculation look at it just as that. It's a gamble as much as an investment. If you can't afford to loose any money leave them well alone. You can buy them from https://localbitcoins.com/

Your Bitcoin wallet take a while to sort out. You need to download 7gb of transaction data for it to be up to date. Do this first.

I've got a bit of spare cash so I 'invested' £200 into them a while ago. They have made a very good return and I've recently cashed my initial investment as I think their current price is very much a bubble. However I'm still keeping profits from my investment in Bitcoins, partly out of interest and partly as it's been a lucrative investment so far and you never know what may happen.
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Tidy! There are enough skeptics out there to make think its got a good future.
 
I just bought 3 bitcoins. Lets see where it goes.

I really like the idea, but there does seem to be an anti-capitalist esk stigma attached to it. While i don't mind that, for this to really take off I think it needs to be neutral and appeal to everyone.
 
ffsear said:
I just bought 3 bitcoins. Lets see where it goes.

I really like the idea, but there does seem to be an anti-capitalist esk stigma attached to it. While i don't mind that, for this to really take off I think it needs to be neutral and appeal to everyone.
Click to expand...

Where did you get them from please, after a recommendation that's all :)
 
ffsear said:
I just bought 3 bitcoins. Lets see where it goes.

I really like the idea, but there does seem to be an anti-capitalist esk stigma attached to it. While i don't mind that, for this to really take off I think it needs to be neutral and appeal to everyone.
Click to expand...

It's the libertards I can't stand. Not that they've gotten in the way mind, and their enthusiasm has proven useful.
 
Awww I had 200 back in the early days. Lost the lot when my computer (plus back up drive) was stolen. I then recovered the computer with bitcoins and sold them because it felt too vulnerable. Probably lost about £3k on that decision. But then again, if you constantly think they'll go up in value forever, you'd never sell them and never really be able to spend the cash.

I don't follow bitcoin anymore, I'm assuming I'll look back one day and realise my decision cost me the equivalent of a house deposit.
 
camouflage said:
Regarding silkroad, 20BTC for an 8th, at current rates thats... 36 quid:eek:

Last time I checked the same price against the pound was very attractive indeed. I'm sure the prices will therefore come down to catch up with the growth in bitcoin value. 12BTC for an 8th seems reasonable, factoring in post and packaging etc.
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20BTC for an 8th, at current rates thats....£1,160! :eek:

;)
 
Loads of people are still in it for the speculating, but I still find it amazing purely as internet payment service. I can send anyone money across the globe in seconds. The global annual remittance turnover is $300bn alone.

I think it will be huge for small scale internet tipping as well.
 
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