Bitcoin robberies

HawkEye244 said:
New technologies take a while to get adopted.
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Magic beans are well known, and have been traded for hundreds of years. The current rate of exchange is 5 beans for one cow, but I will consider cash offers in excess of £600 per bean (it was £500 until the pound dropped after the Brexit vote).
 
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fuking research if you want to know about it, why are you asking me, further why are you sitting there berating something you don't understand..
 
Bought a few hundred quids worth. Don't gamble what you can't afford to lose is the motto.
 
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some bloke was on the telley a good while back that had dumped an old computer / hard drive or some thing in the dustbin

then this bit coin caper kicked off & he discovered that his bit coin wallet or records was on the computer he reckoned he had £250,000 worth ?

went to the tip where the council tip the rubbish , they showed him the area where the lorry would have tipped the load

He may still be there digging ??????
 
I think the confusing thing is the value in £ etc, because it fluctuates so much. Bottom line is, it's dropped low so now is the time to buy
 
"this time it's different"

Bittercoin.jpg
 
HawkEye244 said:
I think the confusing thing is the value in £ etc, because it fluctuates so much. Bottom line is, it's dropped low so now is the time to buy
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What's"low"
To decide buy, hold or sell any thing you have to be able to understand the fundamentals. Unfortunately unlike any business, bit coins are fundamentally worth nothing. Normal currencies are worth what you can buy with them, but when only 1% of the currency is used for buying things it becomes impossible to assign any meaningful value.
At least it's used to buy something, if it wasn't used to buy anything at all it would literally be a text book pyramid scheme. In actual fact it's only mostly a pyramid scheme and slightly a currency. Even currencies can crash much easier than business with actual assets. Gold doesn't crash much at all. Land too.
All markets suffer from actors being unable to value the things objectively accurately, hence boom and bust. With bit coin the problem is worse so the boom and bust will be worse.
Bit coin is not low, it's just lower. Low would be 0£ each.
There's some sage advice on the old saying "when the bloke down the pub is advising to invest, it's time to get out"
 
John D v2.0 said:
What's"low"
To decide buy, hold or sell any thing you have to be able to understand the fundamentals. Unfortunately unlike any business, bit coins are fundamentally worth nothing. Normal currencies are worth what you can buy with them, but when only 1% of the currency is used for buying things it becomes impossible to assign any meaningful value.
At least it's used to buy something, if it wasn't used to buy anything at all it would literally be a text book pyramid scheme. In actual fact it's only mostly a pyramid scheme and slightly a currency. Even currencies can crash much easier than business with actual assets. Gold doesn't crash much at all. Land too.
All markets suffer from actors being unable to value the things objectively accurately, hence boom and bust. With bit coin the problem is worse so the boom and bust will be worse.
Bit coin is not low, it's just lower. Low would be 0£ each.
There's some sage advice on the old saying "when the bloke down the pub is advising to invest, it's time to get out"
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I'm just guessing here, but you don't really understand Bitcoin do you?

I mean, as an investment, it can only work if we all buy it for $0 dollars & sell it for £millions right?

Have you considered the possibility that what is happening to Bitcoin right now might have been pre-empted by the genius that invented it?
 
Dork Lard said:
I'm just guessing here, but you don't really understand Bitcoin do you?
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Well from a technical point of view it's not overly complicated, but I'm assuming you have some deeper insight?
Dork Lard said:
I mean, as an investment, it can only work if we all buy it for $0 dollars & sell it for £millions right?
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No, as an investment it needs an overall value greater than the money added in. Otherwise it's just transferring money around without creating anything.
Invest in a business, they can expand and provide services or goods, and your investment is more valuable as it's providing more value to the world.
Invest in bitcoin and you're just reserving part of a pie that can only be cashed out because someone wants that piece more than you.
But having a piece doesn't really give you any value in itself, not like a piece of land you can farm or a factory that can make something etc.
Dork Lard said:
Have you considered the possibility that what is happening to Bitcoin right now might have been pre-empted by the genius that invented it?
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Well not many people know his or her motivation, but that means little either way. People who start pyrmid schemes can easily preempt what will happen, but that doesn't make them a good investment.
 
That doesn't seem an unexpected nor surprising thing to happen to a currency.

Was 'preempted' perhaps not the correct word to use in Dork's question?
 
No, I didn't say they did but Dork asked:

"Have you considered the possibility that what is happening to Bitcoin right now might have been pre-empted by the genius that invented it?"

and I asked:

"What is it that is happening to Bitcoin right now?"

You replied:

"Currency speculation? With resultant volatility?"

which cannot be the right answer as it obviously was not preempted - and neither can anything else that is happening have been preempted.
 
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