Bitcoin robberies

JohnD said:
update

"Bitcoin volatility sees trades suspended on certain exchanges"

http://www.bbc.co.uk/news/business-42457983

View attachment 133185

"The exchanges have automatic brakes that apply once a commodity or asset has moved by a certain amount.

That happened on both the CME and CBOE exchanges, precipitating brief halts in trading.

One of Bitcoin's major exchanges, Coinbase, also suspended buying and selling of the crypto-currency amid rapid changes in value.

What do people say about Bitcoin?
Regulators around the world have stepped up their warnings about its provenance as an investment.

Its origins are only barely understood, its volatility is extreme and its use as a currency is limited."

"One of this week's most striking comments comes from Denmark's central bank governor, who called it a "deadly" gamble.

Earlier this month, the head of one of the UK's leading financial regulators warned people to be ready to "lose all their money" if they invested in Bitcoin.

Andrew Bailey, head of the Financial Conduct Authority, told the BBC that neither central banks nor the government stood behind the "currency" and therefore it was not a secure investment."

No doubt Hawkeye's busy placing Buy orders with his free hand.
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Waiting to get my account verified so I can buy some !!!!!!!!!!!!!!!!!!!!!!!!!
 
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EFLImpudence said:
Not sure I do.

Could someone explain why its value increased twenty-fold this year and has now fallen back to only eleven-fold?

Why would anyone pay over the odds just to get one or some?
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it's like the Tulip fever. You assume there is a bigger fool to buy from you. How did we get the share price crash of 1929 or the tech boom before 2000. It's built into peoples psyche. There will always be bubbles.

The price of BC is what people are willing to pay for it. At the moment there is speculative fever which may die down. However the bigger point of discussion should be the underlying block chain technology.
 
afaik some fella who used to post in the CC bought a good few bit coins way back so he is probably :LOL:
 
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transam said:
afaik some fella who used to post in the CC bought a good few bit coins way back so he is probably :LOL:
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Trouble is you can't really cash it out into real money at the moment because the confidence isn't there yet.

BC won't be going anywhere though. Just because some countries are a bit averse to it at the moment doesn't make them all like that.

One thing becomes clear though with BC, it's exposed the fact we don't 'really own our money', and never have.
 
noseall said:
What can you do with it?
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There are many countries that have vendors that are accepting bitcoin. Not many here in the UK, but the US has a growing number.

There's a guy I'm following his name is Andreas Antonopolous and he's been living purely off bitcoin for the past 2 years, gets paid in BitCoin as well.

Buying food with it currently I think is difficult.
 
HawkEye244 said:
Trouble is you can't really cash it out into real money at the moment because the confidence isn't there yet.

BC won't be going anywhere though. Just because some countries are a bit averse to it at the moment doesn't make them all like that.

One thing becomes clear though with BC, it's exposed the fact we don't 'really own our money', and never have.
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So if I bought £100 worth of bitcoin on the 1st Jan 2017, then I can't really cash it out into real money?

Does this apply to all purchases of bitcoin?
 
Dork Lard said:
So if I bought £100 worth of bitcoin on the 1st Jan 2017, then I can't really cash it out into real money?

Does this apply to all purchases of bitcoin?
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You can sell Bitcoins for £ (trade with someone or an exchange) or you can find services that accept bitcoins.

Bitcoins don't really act like another currency because it's its own currency. That's the point. It's born out of the failure of the current money systems.

The primary benefit is that you hold your own money. It's not held by a bank, giving you more control over it.
 
Anyone who wants to hold some "mitchcoin" let me know. A monkey cash will get you a hand written note to the value of one "mitchcoin". Due to the slow uptake of new tech you can't do fook all with it but rest assured you will be avoiding the failed banks ;). At some point in the future I'll inform you the value has fallen and refund you a fiver. Any takers??
 
HawkEye244 said:
It's not held by a bank, giving you more control over it.
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Must be a great feeling having total control over your money, knowing you can do absolutely nowt with it.
Owners of Bitcoin must be able to empathise well with Zimbabweans.
 
:mrgreen: there are many alternative coins as well.

But then they said the same about 'credit' when that was first introduced last century.
 
noseall said:
Must be a great feeling having total control over your money, knowing you can do absolutely nowt with it.
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not at the moment no. think anyone that dumps their life savings into a new technology is asking for trouble.
 
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