Bitcoin discussion and news

[Idaho]

Bitcoin does need to bring down the fees. But this is a long term project. It's going to be interesting to see the lightning network implementations next year and whether this will truly scale btc.

 

[camouflage]

Bitcoin does need to bring down the fees. But this is a long term project. It's going to be interesting to see the lightning network implementations next year and whether this will truly scale btc.

Yes indeed. People compare alt-coins that have a fraction of the volume bitcoin has and remark that they're faster... but that's because they're not yet operating at the scale that bitcoin is. Some really are faster I'm sure but I couldn't say empirically which are as I've not taken enough of an interest or used any of them. Now SegWit is in play and yes Lightening and Schnorr and various other developments are bound to push things forward so interesting times ahead, we'll see what impact it has for the coffee-buyers at scale. Personally I'm happy to just let Visa run go fetch my coffee but that's just me, I am looking forward to see many more use-cases in practice.

 

[Idaho]

The use cases are mainly in the developing world. Try getting a visa card in Africa or south east Asia.

Also note the difference between moving crypto currency from wallet to exchange, and the tortuous process of getting fiat on or off the exchange.

 

[savoloysam]

Been tempted for quite a while to invest 4 figures but I keep saying it's risky meanwhile the price keeps on rising

 

[camouflage]

Been tempted for quite a while to invest 4 figures but I keep saying it's risky meanwhile the price keeps on rising

If four figures is a lot of money for you then i advise investing an amount that isnt.

 

[camouflage]

The use cases are mainly in the developing world. Try getting a visa card in Africa or south east Asia.

Also note the difference between moving crypto currency from wallet to exchange, and the tortuous process of getting fiat on or off the exchange.

Strangely, trading in the alt-coin market is also one of bitcoins use-cases (profit-taking especially, giggles).

 

[Idaho]

Been tempted for quite a while to invest 4 figures but I keep saying it's risky meanwhile the price keeps on rising

It's gambling rather than investing, and it's super volatile. Only put money into it if you can afford to lose it.

Today is a fairly good day to buy. Big dip from the weekend.

 

[Idaho]

Big drop today after China tightened up the ridiculous wild west ICO market. Similar to the drop when China started regulating the wild west exchange market. It needed doing. When Paris Hilton starts promoting an ICO, you know the situation has got out of hand.

 

[Ranbay]

hope it drops more and more.... still owe someone half a coin

 

[Idaho]

Simply buy up all those crashing altcoins. They are bound to leap in price and recoup your losses

 

[Ranbay]

it's cool, i'm mining alt coins and they will rocket one day lol

 

[camouflage]

hope it drops more and more.... still owe someone half a coin

First rule of bitcoin is- never borrow bitcoins.

Unless you're thinking to short them... in which case I guess you know what you're doing and good luck.

 

[Idaho]

Simply buy up all those crashing altcoins. They are bound to leap in price and recoup your losses

BCH has leapt in price! I traded the free windfall for btc at 0.130 - it's now at 0.136! God knows why. It's far more pointless than btc.

 

[Idaho]

And it's nosedive time in crypto land!

 

[ffsear]

Bitcoin recovered a bit, was low as 3726 earlier

 

[Idaho]

China shaking out the whole crypto market by the look of it. Which is weird considering that's where all the miners are.

CEO of Goldman saying bitcoin is nonsense is in itself nonsense - especially considering that they are implementing Blockchain solutions themselves.

 

[ffsear]

CEO of Goldman saying bitcoin is nonsense is in itself nonsense - especially considering that they are implementing Blockchain solutions themselves.

Bet he dosent have the bollox to short it though. Money where your mouth is and all that

 

[ffsear]

interesting... Bitcoin 'mining': A new way for North Korea to generate funds for the regime

 

[Ranbay]

Simply buy up all those crashing altcoins. They are bound to leap in price and recoup your losses

keep going, almost back at £1200

 

[Idaho]

It's the same price as July. I wonder how far it will go. $2800?

 

[Ranbay]

It's the same price as July. I wonder how far it will go. $2800?

One can hope! got .5 to pay off this guy so i can suck that up.

 

[Idaho]

Maybe if it was me, I would start getting twitchy on the buy button below $3000. But perhaps more patience would be rewarded. Maybe down to $2700.

 

[Ranbay]

Maybe if it was me, I would start getting twitchy on the buy button below $3000. But perhaps more patience would be rewarded. Maybe down to $2700.

yeah dont really have the cash for it, that's the other issue, lol

they guy is fine to wait, but would be nice to pay it back at lowest rate!

 

[Idaho]

You want to make a low risk decision in a high risk situation

 

[ffsear]

thats quite a drop!

 

[Riklet]

Bitcoin is a total and utter con and absolute crock of shit...

Recently seen Gib now has a bitcoin ATM, however, so I guess some dafties are still biting.

Bound to crash in the near future tho, I'd get cash out while price stays high. Too risky.

 

[Idaho]

It is crashing. It goes in cycles. A year or so of pottering along, then a bubble, then a crash. Rinse and repeat. It'll do the same again in a year or so and go to $10-20k.

 

[rutabowa]

worth sticking 30/40 quid of bitcoins in a hard wallet then forgetting about it for a few years I'd say.

 

[rutabowa]

I mean, I wish I had done that 5 years ago

 

[ffsear]

Bitcoin is a total and utter con and absolute crock of shit...

Recently seen Gib now has a bitcoin ATM, however, so I guess some dafties are still biting.

Bound to crash in the near future tho, I'd get cash out while price stays high. Too risky.

I agree. I think blockchain technology with develop. But Bitcoin won't be the currency that becomes mainstream.

Six big banks to create a blockchain-based cash system led by UBS