Bitcoin discussion and news
- Thread starter camouflage
- Start date
My first purchase I just purchased the maximum they would allow and the next day I purchased the maximum again until I had enough coins for what I wanted to buy, but the next time I wanted some coins I just gave them all the info and I'd they were asking for and then I could buy whatever I wanted. They won't just deal with anyone on a nod and a wink basis.
ffsear
Well-Known Member
wernt it more to do with the Cypress banking crisis and people trying to get their money out the country to avoid the new tax rules?
mwgdrwg
Be a Pisces. Jam.
Just tried again on my mobile and it worked perfectly, I now have a very tiny amount of Bitcoin. I think I had my vpn on my main pc buggering things up.
Cheers.
Idaho
blah blah blah
look at the difference in traded volume compared with the last time bitcoin hit these levels...
this bubble has no weight behind it. i would not be investing in this
The usd$ volume is down on last time, because Bitstamp accounted for 40% of volume then, and less than 5% now. The bulk of the trades are in China, with India second.Look at BCC CHINA or Huobi.
I think my first maximum purchase was around £40 worth. When I tried again the next day I was allowed around £250 worth.
mwgdrwg
Be a Pisces. Jam.
My maximum was £26 yesterday.
Now I know a little about how Bitcoin works, I've been reading about other forms of crypto-currency.
I wouldn't mind owning a small amount of Litecoin, and Dogecoin (s much wow). Any opinions on these? Bittyliscious seem to sell them, I guess I just need a good wallet.
ffsear
Well-Known Member
Look at BCC CHINA or Huobi.
Ah right, it there no centralised data provider that shows total global volume? or is that not possible?
mwgdrwg
Be a Pisces. Jam.
I don't think anyone here is seriously investing in Bitcoin, just interested in it as a currency to use.
mauvais
on reddit or something
Idaho
blah blah blah
Tulip bulbs is an interesting analogy.
- Holland has a 44% share of the worldwide trade in floricultural products, making it the dominant global supplier of flowers and flower products. Some 77% of all flower bulbs traded worldwide come from the Netherlands, the majority of which are tulips. 40% of the trade in 2015 was cut flowers and flower buds.
- The sector is the number 1 exporter to the world for live trees, plants, bulbs, roots and cut flowers.
- The sector is the number 3 exporter in nutritional horticulture products.
- Of the approximately 1,800 new plant varieties that enter the European market each year, 65% originate in the Netherlands. In addition, Dutch breeders account for more than 35% of all applications for community plant variety rights.
- The Dutch are one of the world’s largest exporter of seeds: the exports of seeds amounted to € 3.1 billion in 2014.
- In 2014 the Netherlands was the world’s second largest exporter (in value) of fresh vegetables. The Netherlands exported vegetables with a market value of € 7 billion.
I wouldn't advise anyone to buy bitcoin as a speculative asset unless they had spare money, liked gambling and didn't mind losses.
mwgdrwg
Be a Pisces. Jam.
Haha, you got me. I did invest....£20
So nothing serious really, I'm just curious about the whole thing.
mauvais
on reddit or something
I knew I would regret the tulip bit. Obviously it's not really the point of that remark, but in terms of a comparison, I suppose it gets muddy (npi) - your tulip bulbs have a much closer relationship to the tangible and physical, but ultimately flowers are a luxury, so there's only so much it can withstand. Nonetheless they are an established commodity.
Penny stocks are the better comparison. They're largely sentimental, a big 'what if' with very little or even negative intrinsic value.
Idaho
blah blah blah
The fact that some firms that issue penny stocks do become successful shows that they do have a value. It's just a long shot.
The value of bitcoin is its ability to transact. It gets hyped as the Internet of money - which is not an unreasonable tagline. The question is whether the world wants or needs such a tool. Is there any utility of someone in one country being able to send/pay money to someone they don't know, don't trust in another country without paying a bank commission?
The value of bitcoin is its ability to transact. It gets hyped as the Internet of money - which is not an unreasonable tagline. The question is whether the world wants or needs such a tool. Is there any utility of someone in one country being able to send/pay money to someone they don't know, don't trust in another country without paying a bank commission?
Idaho
blah blah blah
Money is a shared fancy. When someone first used shells/beads/shiny rocks instead of barter, I would be surprised if their weren't a significant group of doubters. And later when paper money was issued, we have documented evidence of people being very sceptical.
We now have money that's as removed from paper money as paper money was from shells and shiny rocks. All our money is digital numbers initiated by governments and multiplied and distributed by banks. Paper money is a negligible detail.
The idea that our shared fancy can move to a different platform - one where the supply of numbers is limited and where you can be your own bank - is a long shot, but not outlandish.
We now have money that's as removed from paper money as paper money was from shells and shiny rocks. All our money is digital numbers initiated by governments and multiplied and distributed by banks. Paper money is a negligible detail.
The idea that our shared fancy can move to a different platform - one where the supply of numbers is limited and where you can be your own bank - is a long shot, but not outlandish.
mauvais
on reddit or something
They're not purely sentimental, true. However it's worse than a low probability bet - usually they're emerging opportunities, i.e. ones that hold a lot of debt and don't make any money yet - mining explorers and the like. Even ignoring the chance of failure, they will almost inevitably undergo dilution and early shareholders will lose out compared to newer, only gaining the certainty of being onboard if and when it does move. More significantly, they have no traditional gauges of value - price:earnings ratio for example. So within the boundaries of future worth, and sometimes without, the value of these things is based on sentiment and other people's trading rather than anything tangible.
We do. But ultimately confidence is still rooted in states and national economies - witness the bank bailouts, for instance, or the Greek economy. There's always an entity willing or compelled to play the traditional underwriter role that would be clearer in, say, bond issue, and this provides a floor to value. Who underwrites Bitcoin? Nobody. Can society afford for it to collapse? Absolutely.
Idaho
blah blah blah
These are all good points. High risk investments are often just bets rather than investments.
Government control and support of currency can be a way of preventing disaster. But in some cases it can cause the disasters.
It's far from clear whether the bank bailouts were a positive outcome. Same for Greece.
Maybe it's a positive thing that bitcoin can collapse. But unless the system is fundamentally compromised or massively superceded, it will retain value. Humans attribute value based on the price they paid for a thing. We are back to the shared fancy thing.
Government control and support of currency can be a way of preventing disaster. But in some cases it can cause the disasters.
It's far from clear whether the bank bailouts were a positive outcome. Same for Greece.
Maybe it's a positive thing that bitcoin can collapse. But unless the system is fundamentally compromised or massively superceded, it will retain value. Humans attribute value based on the price they paid for a thing. We are back to the shared fancy thing.
camouflage
gaslit at scale.
A good thing, a correction was due .
camouflage
gaslit at scale.
We'll see, but if the bounce was so quick then there's a way to go yet... no moon rocket, bitcoin takes the stairs, made of sand, carved by a manic alcoholic. I'd be surprised to see a massive crater before March tbh.
Idaho
blah blah blah
The market is so small that it's fairly easy for large scale speculators to manipulate it. Pump and dump is when they drive up the price with lots of small buys, then dump a big market sell order which drives the price down, causes panic and they then rebuy more btc for the same money.
Despite all the "free market" talk, other stock markets and currency exchanges have all kinds of rules, failsafes, market makers in place to control this.
Despite all the "free market" talk, other stock markets and currency exchanges have all kinds of rules, failsafes, market makers in place to control this.
Idaho
blah blah blah
Most people's assumption of the default price of bitcoin is whatever they recently experienced. It's a combination of a few heuristics.my personal opinion is they will remain £500-£600 most of the time, with the odd peak like this to £800-£900
Don't think they will ever go sub £500 now....
but as everyone says, it's a gamble and nobody knows
Similar threads
