Author Topic: Bitcoins  (Read 75179 times)

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Offline Tony

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Re: Bitcoins
« Reply #270 on: December 18, 2016, 10:22:15 PM »
I'm a bit out of touch, are these still a thing?
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Offline Tony

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Re: Bitcoins
« Reply #271 on: December 18, 2016, 10:22:50 PM »
Meaning Bitcoin, not The Fall.
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Offline Alastair

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Re: Bitcoins
« Reply #272 on: December 18, 2016, 11:57:36 PM »
Bitcoins are looking like they might have the same kind of survival against all odds that The Fall have had.

If you had bought 100 Bitcoins in May 2011 when this thread started they would have cost £610 and be worth £63,120 now.

Of course you could have bought all the Fall albums instead for the same money and been in some way richer.

Offline Tony

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Re: Bitcoins
« Reply #273 on: December 24, 2016, 07:01:11 PM »
This raises an esoteric question that borders on philosophical bollocks.
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Offline splodge

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Re: Bitcoins
« Reply #274 on: December 25, 2016, 12:24:29 PM »
That's pretty standard when listening to The Fall
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Offline Oblomov

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Re: Bitcoins
« Reply #275 on: December 29, 2016, 11:42:01 PM »
Meaning Bitcoin, not The Fall.
Bitcoin is definitely a thing  but it's getting lost in the noise as far as the mainstream is concerned. The blockchain is the real invention I think.

Offline Oblomov

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Re: Bitcoins
« Reply #276 on: February 27, 2017, 10:04:54 AM »
Yes.

I bought 50 Bitcoins for £250 initially. When the price was high I sold 18 of them for £253 to protect my investment leaving me £3 up whatever happens to the remaining 32 that I still have.

I just checked and I could sell my remaining Bitcoins for £282. I'm tempted, because I don't see them going up in the near future after this major hack.

Those 32 remaining bitcoins, if you still have them will soon be worth £32,000... as the price edges ever closer to £1000/BTC


Offline Alastair

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Re: Bitcoins
« Reply #277 on: February 27, 2017, 11:45:01 AM »
Those 32 remaining bitcoins, if you still have them will soon be worth £32,000... as the price edges ever closer to £1000/BTC

Thanks for reminding me  :hihi:

Might be still worth a little punt because who knows where they will be in 5 years time, but I wouldn't put on any more than I'd be happy to lose completely. They're an incredibly high risk investment.

Offline Oblomov

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Re: Bitcoins
« Reply #278 on: February 27, 2017, 01:10:56 PM »
I still use them as a medium of exchange, so their value is pretty much irrelevant, although now it's all measured in milli-bitcoins (mBTC). I'm tempted to punt £100 and see where it goes.

Not long before goods will be denominated in uBTC (microBitcoin). The notion of a currency unit divisible to something like 9 decimal places is pretty revolutionary in its own right!

Offline Alastair

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Re: Bitcoins
« Reply #279 on: March 29, 2017, 10:21:14 PM »
This is why our old friend Amir Taaki has developed Dark Wallet

http://bitcoinmagazine.com/17005/bitcoin-technology-worth-nothing-interview-dark-wallet-front-man-amir-taaki/


Our old friend Amir Taaki surfaces again, this time in connection with Syria.

http://www.bbc.co.uk/news/uk-39417937

Why he would be under police investigation after going to Syria to fight against Islamic State is baffling.

Offline Tony

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Re: Bitcoins
« Reply #280 on: September 16, 2017, 04:05:06 PM »
Dagnabbit, I knew that if I hung on being wrong for long enough it would all come right eventually. Haha!! Below £2.2k each!! Losers!!!

https://www.theguardian.com/technology/2017/sep/15/bitcoin-value-plummets-after-china-orders-trading-in-currency-to-cease

Quote
Bitcoin value plummets after China orders trading in currency to cease

Beijing orders exchanges to stop trading in bitcoin amid fears increasing number of consumers in market could spark wider financial problems

The value of bitcoin collapsed below $3,000 (£2,200) at one point on Friday after Chinese authorities announced a crackdown on the digital currency

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Offline Alastair

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Re: Bitcoins
« Reply #281 on: October 11, 2017, 01:38:54 PM »
When I bought 197 Bitcoins in 2011 they were 30 cents each, so 45 quids worth.

If I'd kept them they would be worth £711,037  :|

Offline Oblomov

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Re: Bitcoins
« Reply #282 on: October 12, 2017, 11:24:47 PM »
Holy ****.

I keep a ticker on my phone, current bitcoin price from one of the exchanges - it topped 4 grand per BTC this afternoon...

I could calculate the value of the bitcoin I have spent over the years, but in order to remain even slightly phlegmatic about it, I don't.

You can claw some comfort from the fact that you could never liquidate your BTC into a lump sum without crashing the price, so you'd end up having to bleed a rapidly inflating investment at constant risk of a total crash to zero at any time.

Not a recipe for inner peace. But then a £45 punt isn't a big hit really, is it?

My dad used to (have I mentioned this before?) keep a set of lottery numbers and would check them against the actual result, but he never actually bought a ticket - claimed to simple be interested to see if they ever came up. It used to drive my mum beserk.

****.  :|

Offline Alastair

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Re: Bitcoins
« Reply #283 on: October 13, 2017, 04:13:27 PM »
Well...

I would never have kept those Bitcoins and if I'd held them long enough to double in price I would very likely have sold them then and been happy to double my money, but I bought them to spend, not as an investment.


I used to do that exact same thing as your dad, pick a set of numbers just to prove that I wouldn't have won the lottery and to gloat a little over the money I saved by not buying a ticket. The rest of the family hated it  :hihi:

Offline Oblomov

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Re: Bitcoins
« Reply #284 on: October 14, 2017, 12:34:38 AM »
A wiser man than me quoth -
"If I had all the money I've spent on drink — I'd spend it on drink.".