 | Home > Off Topic > Bitcoin / Litecoin etc etc anyone? |
 
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| Kit Member Since: 12 Feb 2016 Location: Shropshire Posts: 1110   
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Bitcoin will cascade one day, it'll be triggered by a big holder selling their bitcoin stash.
Might be worth getting in on Lite coin and selling once you've made some money 1993 200 Tdi 90 CSW 1956 Series 1 Hard-top 1958 Series 1 Soft-top |
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19th Dec 2017 1:15pm |
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| JJ Member Since: 18 May 2009 Location: Winchester Posts: 932 
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Digital currencies have a future but which one will prevail ?
It is rarely the trail blazer that becomes the mainstream product ( anyone remember Bebo ? ) as someone will come along and see the mistakes and do it better. If you can afford to lose it then have a punt but diversify the risk. HR064 Hampshire and Berkshire 4x4 Response |
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19th Dec 2017 1:46pm |
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| ian series 1 Member Since: 17 Nov 2014 Location: south Posts: 3127 
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I have very little understanding on this subject,
One thing I can't workout is where and how do you get them, Surely you have to exchange something of value for them? Sorry if it sounds a daft question, but I really don't know anything about them!  80" 80" 86" 88" 90"
Wanted, Forward Control Anything considered. |
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19th Dec 2017 2:30pm |
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| JJ Member Since: 18 May 2009 Location: Winchester Posts: 932
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1.You can accept them as payment for goods or services.
2. You can "mine " them , you get set complicated tasks to solve and when completed you get coins or partial coins . That's where computing power and hacking come in. 3. You can buy them for real money. You have to set up a Bitcoin account ( wallet ). I am sure the other digital currencies are similar but will have their own quirks. HR064 Hampshire and Berkshire 4x4 Response |
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19th Dec 2017 2:58pm |
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| AMBxx Member Since: 24 Jul 2016 Location: York Posts: 985 
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When this stuff is being discussed on a site dedicated to Land Rovers, I'm pretty sure it means we're close to the bubble popping. Looks like we're a couple of weeks behind Mumsnet!
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19th Dec 2017 3:36pm |
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| Stacey007 Member Since: 25 Sep 2015 Location: Cheshire Posts: 3693
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Hello
As above, I didn't know much about them. think of them as shares in a way... You register on a trading website (I used Coinbase) as you have guarantees... You buy full or part coins depending upon your amount. Its 'virtual' you do get get physical coins. Then just like shares you can watch them go up / down... and can buy or sell as you wish. You can Mine them using a PC and high powered machine..... this is another level of complexness and really you need to group together with others to do this method I'm only just looking at this..) It's very strange and a step into the unknown but Its money as others have said can be used as 'spare', at the end of the day it's a gamble... |
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19th Dec 2017 3:39pm |
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| Rashers Member Since: 21 Jun 2015 Location: Norfolk Posts: 3337 
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As with all high risk investments or forms of betting, don't part with anymore 'real' money than you can afford to lose.
Apart from that, good luck 
You could argue that there is a lot of dodgy people doing a lot of dodgy stuff with bitcoin etc. But then I am sure the same could be said about proper money? |
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19th Dec 2017 3:49pm |
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| ian series 1 Member Since: 17 Nov 2014 Location: south Posts: 3127
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Thanks for the explanations,
Not for me though... 80" 80" 86" 88" 90"
Wanted, Forward Control Anything considered. |
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19th Dec 2017 4:28pm |
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| apt100 Member Since: 05 Mar 2015 Location: Derbyshire Posts: 1547 
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You are right. The chatter around them is gaining momentum which is a classic sign of rapidly nearing the top. Once the taxi driver starts talking about them.. get out quick. |
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19th Dec 2017 5:41pm |
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| DSC-off Member Since: 16 Oct 2014 Location: North East Posts: 1351 
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It reminds me of last week's news story of kids spending REAL money buying virtual 'skins' in computer games. Then they gamble with the value of the non existent item, losing it. So they buy a new skin and gamble again...
'Stupid kids' was my reaction, 'can't they see it's all a scam?' Bitcoin. If you can't be bothered to 'mine' them, you can buy them. That makes them sound attractive and worthwhile. When/if it all goes virtually pop, you can't go to the virtual bank, see the virtual manger and demand he virtually reimburses your actual loss. The mafia bosses won't be interested either. I'll stick to the real world. |
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19th Dec 2017 7:00pm |
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| ian series 1 Member Since: 17 Nov 2014 Location: south Posts: 3127
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So how much is a Bitcoin worth? 80" 80" 86" 88" 90"
Wanted, Forward Control Anything considered. |
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19th Dec 2017 7:05pm |
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| Sulisuli Member Since: 30 Oct 2016 Location: South west Posts: 4789 
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2 lite sabres and a low mileage Dalek Ian
2015 HT XS 90
2008 SVX 90 2000 XS TD5 90 |
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19th Dec 2017 7:07pm |
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| Matt90 Member Since: 12 Jun 2016 Location: Leicester Posts: 142 
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The fact that the creator of Bitcoin sold off all his coins today says it all, I’ve no doubt it’s the future I’m just not sure Bitcoin will be the one to go with.
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19th Dec 2017 7:24pm |
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| ian series 1 Member Since: 17 Nov 2014 Location: south Posts: 3127
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 Thanks, well worth it then! 80" 80" 86" 88" 90"
Wanted, Forward Control Anything considered. |
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19th Dec 2017 8:00pm |
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