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PostPosted: Thu Dec 07, 2017 10:44 pm 

The podcasts are cool :wink:


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PostPosted: Fri Dec 08, 2017 11:10 am 

I'm more interested in the tech behind it more so than the currency side of things. Blockchain/Tangle tech has some serious disruptive capabilities in so many areas. I've dabbled into IOTA back when it was 35 cents as the Bitcoin ship has sailed but if your not at all tech savvy probably best to stay away. Who or what is pumping Bitcoin at this stage is anyones guess.


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PostPosted: Fri Dec 08, 2017 9:41 pm 

Powered by botnets at this stage. Mining costs more than is made and the price of Bitcoin is crazy. I think the idea of investing is to buy low and sell high. Buying when the price is at €13281.03 has a good chance of ending in tears.


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PostPosted: Sat Dec 09, 2017 1:24 am 

I've bought and sold a bit in the past, but mostly in order to purchase illegal HD NFL streams. I think in today's (Bitcoin) money the cost of the season so far is about $1500. Doesn't seem worth it for a Green Bay team without Aaron Rodgers :P

I bought one Litecoin tonight (for £100ish) just for the novelty of seeing what it does. From a technological perspective it's a more interesting proposition to Bitcoin. Whether it ever achieves the same levels is another thing (though I'll be quite happy if it does!)

The same guy I mentioned in my first post in this thread a couple of years ago is, as of tonight, sitting with 1.03 Bitcoin and 50 Litecoin from the £500 or so he salvaged the last time it crashed and he lost a fortune. Fair play, but he's "in it for the long haul" apparently, so no doubt it will end in tears. I'd cash out personally.

There are fairly credible people forecasting that a Bitcoin could be worth $1m by 2019. Quite how this is possible when that would put the total worth of bitcoin at something like 100 times all money in existence is beyond me, but it doesn't seem to deter them.


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PostPosted: Sat Dec 09, 2017 1:27 am 

thejuice wrote:
They're not taking roubles at russianbrides.com any more.

:-(



Actually I'm trying to watch NFL on the cheap.


Enn Eff Ell Two Go Dot Com

:lol:

That makes two of us! :)


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PostPosted: Sat Dec 09, 2017 1:41 am 

Bitcoin and the other 999 blockchain clones will face all the same issues - scalability, it takes hours to complete a transaction and the amount of power it takes I can't see it working in the real world as a proper currency. Steam removed Bitcoin as a payment option because of the long wait times and the extreme volatility. In my eyes Bitcoin is like myspace back in 2004/2005.

IOTA looks much more interesting, not a blockchain, no mining, no transaction fees, scales and has partnered up with Microsoft, Bosch, Fujitsu to name just a few for a datamarket place project, in the upcoming market for Internet of Things, along with other stuff.

Also like the idea of their masked authenticated messaging - basically someone could develop a tangle based system that eliminates the middle man (spotify/itunes/google play/bandcamp etc) and musicians can stream their music directly to the consumers and get real-time micro-payments (IOTA) for each second played. Musicians could adjust the fees and setup their own streaming/payment structure.

https://blog.iota.org/introducing-maske ... 5c1822d50e

With all new tech comes great risk but would hate to be the chap that bought 2 pizzas with 10,000 bitcoin few years back :shock: :shock: I just cannot see how traditional banking or governments will allow these wild wild west type beasts to fester. Maybe like Napster they will be uncontrollable. Exciting few years coming up.


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PostPosted: Sat Dec 09, 2017 6:30 am 

I had to buy some two months ago to get some mushrooms and it was a nightmare trying to get it. I only wanted to buy it once but almost every exchange site recommended to me by the place I was buying from wanted my life history along with scans of passports, ID etc fuck that. Even the ones promising $200 or under without ID still insisted on you providing one once you went through the process and they also take days to actually fund your account. So I ended up buying it from a machine in a shop and paid about $150 cad for $115. Even liberty reserve and pinnux (Can't remember the correct spelling) were not as much of a headache as bitcoin. Even once you get the gold just making the payment is a process in itself.


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PostPosted: Sat Dec 09, 2017 12:08 pm 

man use localbitcoins next time, way handier. there's Irish bitcoin traders on there who instantly release bitcoin if you do a bank transfer with different accounts for irish different banks. Then it's just a case of transferring straight to the market wallet address. it's probably awkward the first time but an easy process once you're used to it.

No need for passports or anything either just a simple signup.


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PostPosted: Sat Dec 09, 2017 1:21 pm 

I would be very wary of any Bitcoin dealer who asked for a scan of my passport. This pretty much sums up the bitcoin fad at the moment.
https://en.wikipedia.org/wiki/Greater_fool_theory
Bitcoins have no real world utility or actual worth. Their worth is not estimated in any verifiable way.


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PostPosted: Sat Dec 09, 2017 6:20 pm 

Mags wrote:
man use localbitcoins next time, way handier. there's Irish bitcoin traders on there who instantly release bitcoin if you do a bank transfer with different accounts for irish different banks. Then it's just a case of transferring straight to the market wallet address. it's probably awkward the first time but an easy process once you're used to it.

No need for passports or anything either just a simple signup.


hellfire wrote:
I would be very wary of any Bitcoin dealer who asked for a scan of my passport. This pretty much sums up the bitcoin fad at the moment.
https://en.wikipedia.org/wiki/Greater_fool_theory
Bitcoins have no real world utility or actual worth. Their worth is not estimated in any verifiable way.


Problem was I am not currently in Ireland so that's why I had to do it that way. It was a one purchase so hopefully won't need to get anymore in the future.


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PostPosted: Sat Dec 09, 2017 6:45 pm 

I'm sure alot of people out there are throwing up the noose after trying to chase the pump when it was at 18k and throwing their life savings into it. It's heading back towards 13k - soon time to buy up again.


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PostPosted: Sat Dec 09, 2017 7:19 pm 

mickO))) wrote:
hellfire wrote:
I would be very wary of any Bitcoin dealer who asked for a scan of my passport.

This pretty much sums up the bitcoin fad at the moment.
https://en.wikipedia.org/wiki/Greater_fool_theory
Bitcoins have no real world utility or actual worth. Their worth is not estimated in any verifiable way.


Problem was I am not currently in Ireland so that's why I had to do it that way. It was a one purchase so hopefully won't need to get anymore in the future.


Sorry, that wasn't a dig at you. More about people who buy them for speculation than actually buying things.


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PostPosted: Mon Dec 11, 2017 2:15 pm 

Anyone looking to buy bitcoin...

- set up a coinbase account
- transfer funds using SEPA (free, takes a few hours)
- transfer funds from coinbase to its sister site GDAX (free and instantaneous)
- buy bitcoin using a "limit buy" order (free)

I wont preach the merits of bitcoin to anyone other than to say that I bought into it a while back for the same reasons I bought silver bullion ten years ago - as a hedge against currency debasement and an impending stock market crash i.e. as a store of value to protect my savings. Bitcoin has the added advantage of delivering crazy returns.

If you think it's a bubble, don't invest.

If you're interested but are worried about scaling problems/real world applicability, don't be - It's a digital technology and like all digital technologies is being upgraded and improved all the time to address existing constraints.


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PostPosted: Mon Dec 11, 2017 5:14 pm 

ragnarok wrote:
I bought one Litecoin tonight (for £100ish) just for the novelty of seeing what it does. From a technological perspective it's a more interesting proposition to Bitcoin. Whether it ever achieves the same levels is another thing (though I'll be quite happy if it does!)


Congrats, you're already ~£50 up.

I sold all mine a couple of weeks ago for about 1/3 the price they are now. Gave one to the missus as a novelty, now it looks like it'll be worth more than her present by Christmas morning.

It's still a horrible speculative bubble everyone should stay well away from IMO. The technology is cool but it's not the second coming that everyone is saying it is. It's like IoT. Lots of promise, lots of hype.


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PostPosted: Tue Dec 12, 2017 12:22 am 

Midhir wrote:
Congrats, you're already ~£50 up.


* £100 up


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