Bitcoin discussion and news

[Idaho]

I don't understand the maths. But I understand a bit of what the maths is doing, if you know what I mean.

 

[Idaho]

Blockchain is a solution to the byzantine generals problem. Which is a slightly more complex version of the:

Two Generals' Problem - Wikipedia

 

[bimble]

 

[bimble]

Blockchain is a solution to the byzantine generals problem. Which is a slightly more complex version of the:

Two Generals' Problem - Wikipedia

He told me that! I understood that bit, the importance of two people having access to the same information at the same moment.

 

[Idaho]

Ok... Maybe set those aside for now

Its not beyond you. It's just quite hard to understand at first. The more you try, the more you are exercising your brain. And our brains are much alike. It's just our tolerance for mental exercise that's different. (I have a low tolerance but a habit of forcing myself to learn)

 

[ffsear]

Just found this e-mail chain between me and my Mrs back in 2013


--------------------------------------------------


Charlie

25/03/2013

to Charlotte

I think we should put our money in these bitcoins


Charlotte

Okay. Can we talk about it tonight? From: Charlie.



Charlie

25/03/2013

to Charlotte




yep

Charlotte 25/03/2013

Want to understand a bit more about it... feels dodgy to me! From: Charlie Ag...



Charlie

25/03/2013


to Charlotte


Im going to have a long hard thibnk about it, could use the £5,000 in premium bonds we have




Charlotte 25/03/2013

I don't like the sound of it.





Charlie

25/03/2013

to Charlotte


But looking at the price.


On march the 1st you could buy 1 bitcoin for £20, today they are worth £48.






Charlotte 25/03/2013


Is it easy to invest in them?



Charlie

25/03/2013




to Charlotte






its easy to buy yes. But we need to discuss



Charlotte 25/03/2013


Okay. From: Charlie



Charlie

25/03/2013

to Charlotte



I think this has the ability to the investment opertunity of our generation. But only if we fully understand it should be get involved




Charlotte 25/03/2013

Okay. Let’s talk about it all tonight then after we’ve got dinner.



Charlie

17:10 24/05/2017 (8 minutes ago)

to Charlotte


What a missed opportunity! Bitcoin is worth over £2000 each now!


----------------------------------

 

[bimble]

What happened next, did you talk about it after dinner and she just wasn't convinced? Are you still married?

 

[Idaho]

Just found this e-mail chain between me and my Mrs back in 2013


--------------------------------------------------


Charlie

25/03/2013

to Charlotte

I think we should put our money in these bitcoins


Charlotte

Okay. Can we talk about it tonight? From: Charlie.



Charlie

25/03/2013

to Charlotte




yep

Charlotte 25/03/2013

Want to understand a bit more about it... feels dodgy to me! From: Charlie Ag...



Charlie

25/03/2013


to Charlotte


Im going to have a long hard thibnk about it, could use the £5,000 in premium bonds we have




Charlotte 25/03/2013

I don't like the sound of it.





Charlie

25/03/2013

to Charlotte


But looking at the price.


On march the 1st you could buy 1 bitcoin for £20, today they are worth £48.






Charlotte 25/03/2013


Is it easy to invest in them?



Charlie

25/03/2013




to Charlotte






its easy to buy yes. But we need to discuss



Charlotte 25/03/2013


Okay. From: Charlie



Charlie

25/03/2013

to Charlotte



I think this has the ability to the investment opertunity of our generation. But only if we fully understand it should be get involved




Charlotte 25/03/2013

Okay. Let’s talk about it all tonight then after we’ve got dinner.



Charlie

17:10 24/05/2017 (8 minutes ago)

to Charlotte


What a missed opportunity! Bitcoin is worth over £2000 each now!


----------------------------------

Yeah... The ones that get away

 

[ffsear]

What happened next, did you talk about it after dinner and she just wasn't convinced? Are you still married?

Just about... To be honest i was very skeptical. Thought the whole thing was one massive ponzi scheme , and to be honest I prob would of cashed out when they hit $200. Money was for a house deposit, so prob the right decision in the end.

........

but still

 

[ffsear]

I do think they are overvalued though, I think $500 is a fair price, but whole the hell would have the balls to short this market?

 

[Idaho]

I do think they are overvalued though, I think $500 is a fair price, but whole the hell would have the balls to short this market?

Why $500? Why not $50, $5, $5000?

 

[sim667]

I'm thinking about changing my payments for a certain service to ethereum or monero, in light of high the premium for a bitcoin purchase is now.

Does anyone know if one is better than the other for any reason?

 

[Ranbay]

I'm thinking about changing my payments for a certain service to ethereum or monero, in light of high the premium for a bitcoin purchase is now.

Does anyone know if one is better than the other for any reason?

will be down to which sellers take them etc no?

 

[sim667]

will be down to which sellers take them etc no?

I guess. But some people will say x is better than y because abc...... I dont know if thats just cryptocurrency bullshit though

 

[Ranbay]

I guess. But some people will say x is better than y because abc...... I dont know if thats just cryptocurrency bullshit though

most other alt coins wont jump or drop £200 in a day.

have you looked into mining yourself? making £20 ever 30 hours from my ZEC machines right now. 2 PC's and you can work and mess about on the one while it mines also.

 

[sim667]

most other alt coins wont jump or drop £200 in a day.

have you looked into mining yourself? making £20 ever 30 hours from my ZEC machines right now. 2 PC's and you can work and mess about on the one while it mines also.

I considered it, but the outlay and cost of leccy for the bitcoin return seemed pointless...... I can't really afford a machine to specifically do it...... I do have an old mac I'd dedicate to the cause though

 

[bimble]

most other alt coins wont jump or drop £200 in a day.

Why is that? (Why is Btc more volatile than others)

 

[Ranbay]

Why is that? (Why is Btc more volatile than others)

It's main one init,.... other alts are no where near the price so a 20% drop wont mean £200 it could ne £5 or something.. I'm going to hold all I make now unless I really need it, before now I just converted to BTC and spent it.

ZEC is currently Zcash price | index, chart and news | WorldCoinIndex

 

[bimble]

So.. you're saying the other ones not really less volatile just worth less ?
(Bitcoin bloke yesterday said that we're in a massive alt currency bubble right now, people throwing money into pointless Kim Kardashian endorsed crypto-coins etc. )

 

[Idaho]

What the heck are you all talking about! Btc is loads less volatile than alts! Yes in absolute terms, btc might jump up or down $300 a day. But that's a 10% swing. Alts move 30% a day no problem.

Premium to purchase? Do you mean the commission from local resellers?

 

[Ranbay]

yeah they will still move up and down as people trade, it's just the base price is in smaller amounts. so safer to hold/trade

and I agree it's all a bubble that could fall at any point.

 

[Ranbay]

What the heck are you all talking about! Btc is loads less volatile than alts! Yes in absolute terms, btc might jump up or down $300 a day. But that's a 10% swing. Alts move 30% a day no problem.

Premium to purchase? Do you mean the commission from local resellers?

I'm talking more about the price, as sim was looking at alt coins for buying things online, he buys 0.1 BTC could be worth fuck knows tomorrow, he buys 0.1 ETH chances are it's jumped or dropped less in that same time period (hence less risk for holding before he buys)

 

[Idaho]

I'm talking more about the price, as sim was looking at alt coins for buying things online, he buys 0.1 BTC could be worth fuck knows tomorrow, he buys 0.1 ETH chances are it's jumped or dropped less in that same time period (hence less risk for holding before he buys)

Does not compute nor match reality! Alts are waaaaay more turbulent.

 

[Ranbay]

Does not compute nor match reality! Alts are waaaaay more turbulent.

but the value is less per coin... that's the point I'm tying to make for someone who is looking to get some to spend.... not someone to HODL!

 

[Idaho]

But buying a "whole coin" of one or the other is totally arbitrary. Just get the same approx sterling value.

 

[Ranbay]

and 50 hours later when it comes in as BTC because the send set a low fee what's it worth?

none of this is real by the way... there is no space coins

 

[Idaho]

Fingers crossed for segwit in September. Have you seen any videos about the lightning network? That will be a big deal if it gets implemented.

 

[Ranbay]

PS

 

[Ranbay]

Fingers crossed for segwit in September. Have you seen any videos about the lightning network? That will be a big deal if it gets implemented.

yeah quicker than a visa payment once it's sorted

 

[Idaho]

You are talking to someone who bought at that first peak, sold on the first dip and bought again on the second peak. Anti-timed the market to perfection!