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Bitcoin discussion and news

Awkwardly confessed to the boyfriend yesterday that I'm all enthused by the bitcoin and he was extremely unimpressed, said in his opinion I'm guaranteed sooner or later to lose whatever i put in there.
But then he had a look at his own wallet's current value (that he hadn't looked at for ages since getting paid in Btc for something back in 2013) and his face! Claims he's going to sell them immediately but won't sell them to me. :hmm:
 
Crazy to sell! If he had bought them and knew their value, then fair enough. But as far as he knew, he had nothing. That's a free roll. No risk as he won't lose anything.

Oh well. I suppose it's free money. Not to be sniffed at.
 
I know! Think he's just trying to put me off the whole idea, which is probably wise. Will wait a bit and then ask if he's really sold them.
 
I'd be tempted to sell half and keep half - if he got paid for something in 2013 there's fair chance he's got a few bitcoins so cash in now with some and hold on to the rest and see if it gets to £10k or goes bust.
 
1995 - most people had heard of the Internet and some actually used it for work. Majority saw it as a niche thing for hobbies and weirdos
2000 - most businesses use the Internet, everyone had heard of it, most had used it, but still fairly fringe. It's not like you'd ever do anything serious like banking or supermarket shopping on it

2016 - most people had heard of bitcoin and some actually used it for work. Majority saw it as a niche thing for hobbies and weirdos
 
Idaho said:
1995 - most people had heard of the Internet and some actually used it for work. Majority saw it as a niche thing for hobbies and weirdos
2000 - most businesses use the Internet, everyone had heard of it, most had used it, but still fairly fringe. It's not like you'd ever do anything serious like banking or supermarket shopping on it

2016 - most people had heard of bitcoin and some actually used it for work. Majority saw it as a niche thing for hobbies and weirdos
Click to expand...


:D
 
Just learned a new thing:
The value right now of a Bitcoin in £ or dollars is very much less than its value in Rupees or korean money or Japanese. Does that help explain maybe some of the volatility, as people who are losing faith in their state's currency pile in?
Does it also maybe suggest that IF our state-currency is for whatever reason artificially inflated then chances are a bitcoin will be worth more pounds in future (?)
 
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The big difference in btc in different countries is interesting. You would think that it would be easy money to buy btc here and sell it there... Which it is. What's hard and expensive is moving the rupees or won back again. It makes you realise what the market could be for overseas workers sending money home, etc.
 
Yes. Especially as using western union etc is such a humungous rip-off, especially if you just send what you can month by month it is obscenely expensive.
 
If you want to buy stuff quickly then Ethereum or Litecoin or even Doge is fast and easy. It doesn't matter what you use for transactions really, even use Bitcoin even if it does take a while. Storing value is a different subject, but if you are just buying stuff just use whatever coin you have handy.
 
Idaho said:
Why $500? Why not $50, $5, $5000?
Click to expand...


I remember it spent quite a long time stabled around $300-$500 area. I'd buy at that price. What worries me right now is the massive increase of bucket shop sales men trying to push bitcoin onto onto potential investors and taking massive commissions. That and Binary options which we all know are a scam. The only real value bitcoin has at the moment is the ability to exchange it for cash. Pure speculation.
 
ffsear said:
I remember it spent quite a long time stabled around $300-$500 area. I'd buy at that price. What worries me right now is the massive increase of bucket shop sales men trying to push bitcoin onto onto potential investors and taking massive commissions. That and Binary options which we all know are a scam. The only real value bitcoin has at the moment is the ability to exchange it for cash. Pure speculation.
Click to expand...

no, the ability to exchange it for drugs gives it huge value

Here's what British drug users have been doing lately

25% in the UK now buy from darknet markets, that's a substantial economy, which is all/mostly run with bitcoins. I've no idea how that actually translates into £/$ value tbf but there's something other than speculation underlying the value.
 
BigTom said:
no, the ability to exchange it for drugs gives it huge value

Here's what British drug users have been doing lately

25% in the UK now buy from darknet markets, that's a substantial economy, which is all/mostly run with bitcoins. I've no idea how that actually translates into £/$ value tbf but there's something other than speculation underlying the value.
Click to expand...


Yep but what do you think the drug dealers do with those bitcoins? Hold on to them? The majority liquidate them straight away.
 
You can also buy legit stuff with Bitcoin. CEX accept it, and you can even get hotels and holidays with Expedia.
 
mwgdrwg said:
You can also buy legit stuff with Bitcoin. CEX accept it, and you can even get hotels and holidays with Expedia.
Click to expand...

But again, what do you think Expedia and CEX will do with those bitcoins once they accept them? They will turn them straight back into cash. No company is going to hold such a volatile asset on their books.
 
ffsear said:
Yep but what do you think the drug dealers do with those bitcoins? Hold on to them? The majority liquidate them straight away.
Click to expand...

Sure, but you could say the same about any currency, no currency has intrinsic value, what gives it value is what it can be used for / the economy which it lubricates. Anything else is just speculation.
 
It's very early days for crypto. It isn't that useful right now to us who have the ability to use cash and cards. But the idea that money in the future won't be affected by the information revolution seems naive.

There are a few different use cases right now. Remittances, buying things online in countries where it's hard to get a bank card. Some central Asian country is using it to record land settlements.
 
bitcoin-roller-coaster-gif.107340

Never gets tired.
 
I've got a bitcoin transaction that seems to be stuck? I transferred it last night but it's still unconfirmed. I can't see anyway to recall it or anything like that (using Electrum as a wallet) - anyone here have any ideas of what I might be able to do to get the transaction cancelled so I can get my btc back?
 
BigTom said:
I've got a bitcoin transaction that seems to be stuck? I transferred it last night but it's still unconfirmed. I can't see anyway to recall it or anything like that (using Electrum as a wallet) - anyone here have any ideas of what I might be able to do to get the transaction cancelled so I can get my btc back?
Click to expand...
do you have any confirmations, when you look at the blockchain?
 
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