JohnGalway 1,043 Posted January 2, 2018 Report Share Posted January 2, 2018 Whole lotta "coins" I know sfa about, and the blockchain technology behind some or all of them I know less about. Is anyone here knowledgeable on these digital currencies, do more than buy and hodl (not much better than buying a lotto ticket ie gambling as far as I can make out). Just looking to start a conversation on is there a few fiat quid to be made on them? Quote Link to post Share on other sites
scothunter 12,609 Posted January 2, 2018 Report Share Posted January 2, 2018 You're whole post is cryptic to me lol 1 2 Quote Link to post Share on other sites
Meece 1,957 Posted January 2, 2018 Report Share Posted January 2, 2018 (edited) I also know sfa about this. I did have a bit of a read up about it and a lot of it names logical sense. From what I understood the currency sort of floats and there can only be so much in circulation. The currency doesn't belong to any country so it isnt tied up with any central bank or government. It is sort of like the money note in your pocket which is just a piece of paper upon which is a promise to pay in gold I think. I think that its a bit like online banking. There are an amount of places that accept bitcoin. I haven't got a clue how it works in regard to change. If you read this it gives a bit more insight of what it is all about. I can't make up my mind as to good or bad. No doubt the ordinary Joe in the street will get shafted Along the way much as it always is. P.s. what is a fiat quid? Some sort of rusty Italian bank note? https://www.thesun.co.uk/money/5069370/bitcoin-price-usd-gbp-latest-news-cryptocurrency-january-1/ Edited January 2, 2018 by Meece Quote Link to post Share on other sites
Waz 4,204 Posted January 2, 2018 Report Share Posted January 2, 2018 (edited) Find a cryptocurrency beginners group on facebook. Buy bitcoin and a few other popular/establushed coins here http://goo.gl/cb5NZe its a safe site. Its a referal link. love this subject, just got interested the last few months. Edited January 2, 2018 by Waz Quote Link to post Share on other sites
Waz 4,204 Posted January 2, 2018 Report Share Posted January 2, 2018 (edited) Yeah its a gamble, but at one point around tge end of November (before it reached its all time high!) Bitcoin was 1800% up in 12 months.. yes their is the right amount of 0's. Today its at +1047 % for the last 12 months. Edited January 2, 2018 by Waz Quote Link to post Share on other sites
stumfelter 3,032 Posted January 2, 2018 Report Share Posted January 2, 2018 It seems to me to be another way for intellectuals to make loads of money while not actually working for a living.... 2 Quote Link to post Share on other sites
Caravan Monster 323 Posted January 2, 2018 Report Share Posted January 2, 2018 The security aspect and the idea of being able to store wealth outside of the fractional reserve banking system, out of reach from the grasping hands of government, are great. However, I would be concerned about being able to buy goods or services with or cash out bitcoin > £sterling. Quote Link to post Share on other sites
walshie 2,804 Posted January 2, 2018 Report Share Posted January 2, 2018 I'd be concerned about trying to get my money back out. Why would anyone want to buy it for hundreds of times more than you paid for it? Quote Link to post Share on other sites
riohog 5,621 Posted January 2, 2018 Report Share Posted January 2, 2018 my understanding of it , its highly dodgy , absolutly no guarantees whatsoever .if it sounds to good to be true it usually is. your better to invest in the yellow metal .at least you can see what you hqve , rather than just a bunch of computor generated figures ,held in files on a pc that is subject to being hacked , aparently it was kept very quiet but it was hacked a few weeks ago to the tune of 50 odd million that was kept quiet ,, leave well alone "" Quote Link to post Share on other sites
Kay 3,709 Posted January 2, 2018 Report Share Posted January 2, 2018 I would be wary of putting money into one of there ponzy scheme things , I have yet to read about anyone who invested a grand & got double back in there current account over night , if it was that easy we would all be doing it Quote Link to post Share on other sites
Blackbriar 8,568 Posted January 2, 2018 Report Share Posted January 2, 2018 Yeah, definitely ! I'd look to invest in an adjustable peg portfolio, with a small bust-out back up, or a straight compound choke price format, returning around 12%. This would, in effect, amount to a backstop purchase on a bid spread of downswing purchases..................... Easy, really. 1 2 Quote Link to post Share on other sites
Greyman 25,222 Posted January 2, 2018 Report Share Posted January 2, 2018 I have zero understanding or interest in it, but have a few friends that dabble and seem to enjoy themselves, but from my very limited understanding its much like the old pyramid scam were everyone pays in and the first few make a killing but as soon as someone drops out the lot collapses, if you don't have money to loose stick with gold ,silver or premium bonds, as you can always get your money back and they will always make you money 1 Quote Link to post Share on other sites
Waz 4,204 Posted January 2, 2018 Report Share Posted January 2, 2018 21 minutes ago, Blackbriar said: Yeah, definitely ! I'd look to invest in an adjustable peg portfolio, with a small bust-out back up, or a straight compound choke price format, returning around 12%. This would, in effect, amount to a backstop purchase on a bid spread of downswing purchases..................... Easy, really. Yeah, what he said.. 1 Quote Link to post Share on other sites
mackem 23,739 Posted January 2, 2018 Report Share Posted January 2, 2018 I read an article a year or so ago,some London cabbie who invested a hundred quid in bitcoin when it first came out,his coin is now worth £4,500,000.............so why was he still driving a cab?Chinese have huge banks of computers set up mining these coins,its complex,complicated,and way over my head so I will stick with cash I know how much I have in my pocket,i know where it is,and its tangible,after all crypto means secret and hidden Bitcoin has spawned loads of crypto currencies,theres even potcoin and cannabiscoin with incredible rises onscreen but if something seems too good to be true it invariably is,the bubble if it exists cant sustain rises like that,cash is king at least for the short term just try paying for your weekly shopping by pulling up your bitcoin wallet on your smartphone 1 Quote Link to post Share on other sites
mackem 23,739 Posted January 2, 2018 Report Share Posted January 2, 2018 Bitcoin theft Moscow style...... 1 2 Quote Link to post Share on other sites
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