Bitcoins vs cryptocurenncy

[not on facebook]

So if you had the choice which one would you plough any of your spare cash into that you have knocking about or under your bed matteress .

I understand that bitcoins  have been out longer as the crypto ones are the new kids on the block,hence to say you will get more crypto for your $$$$ since they will be far cheaper.

Iam thinking about pissing a wedge up the wall into one of these two .

anyone one out there gone down same road .

[Geoff Blakesley]

I'm sure your hundred quid won't affect the world's trade balance whichever you choose.

[not on facebook]

£100 is fcuk all out here sir,a good barman will get that in tips after one shift in the right pub.

Anyway slack knackers if you had put £100 into bitcoins when they first came out ,you would have many many more £100s now lined up behind it .

[GazLaz]

I've got dough in Bitcoin and Litecoin.

[Nudga]

Was talking to a young lad the other day about This, he's pulling £150 a week from it.

[DonnyOsmond]

Bitcoin is a cryptocurrency?

I've got bitcoin, ethereum and litecoin.

[Jenny]

I had a very small balance of Bitcoins dating back to about 4 years ago, I'll be damned if I know how to access them now which is frustrating given they will be worth a fair bit more

[GazLaz]

I had a very small balance of Bitcoins dating back to about 4 years ago, I'll be damned if I know how to access them now which is frustrating given they will be worth a fair bit more

Be worth ten times more probably. I think there's a good chance Bitcoin will get up to $100k a coin eventually. Massively dependent on how China handle the market though.

[bahrain rover]

Geoff, Why do you have to attack or mock any and every thing posted by NOF. I realize some of his comments are a bit out there and sometimes controversial. From your past posts, I have formed a picture of you being a very well educated and knowledgeable individual. BUT I find constant sniping extremely juvenile and equally irritating, and from my perspective only serves to show yourself up.   

[bahrain rover]

I am interested also in this subject. I hear the phrase mining the currency. What is this and how does it work? as the currency exists in a virtual world. 

[not on facebook]

I am interested also in this subject. I hear the phrase mining the currency. What is this and how does it work? as the currency exists in a virtual world.

Iam just reading up on it as I know bugger all at the moment as Iam tinkering on the idea of spewing a serious wedge into whatever crypto coin or currency.

From what I pick up litecoin is cheaper to get out of the ground than  bitcoin  hence it sells you can buy it at a cheaper price .

But all the indications point out that bitcoin has more going for it today.

Iam going into this blind as a bat tbh.

[not on facebook]

I had a very small balance of Bitcoins dating back to about 4 years ago, I'll be damned if I know how to access them now which is frustrating given they will be worth a fair bit more

Is the reason why you can't access you bitcoin stash because you can't recall your password or login details or something

[not on facebook]

Geoff, Why do you have to attack or mock any and every thing posted by NOF. I realize some of his comments are a bit out there and sometimes controversial. From your past posts, I have formed a picture of you being a very well educated and knowledgeable individual. BUT I find constant sniping extremely juvenile and equally irritating, and from my perspective only serves to show yourself up.   

BR It don't bother me one bit tbh,let him horse on .infact can't the top table get mr syme
back on board then I will be getting flack from two fronts .the more the better as they say.

At least it saves me having to splash out on crimbo cards .

[DonnyOsmond]

I am interested also in this subject. I hear the phrase mining the currency. What is this and how does it work? as the currency exists in a virtual world.

Iam just reading up on it as I know bugger all at the moment as Iam tinkering on the idea of spewing a serious wedge into whatever crypto coin or currency.

From what I pick up litecoin is cheaper to get out of the ground than  bitcoin  hence it sells you can buy it at a cheaper price .

But all the indications point out that bitcoin has more going for it today.

Iam going into this blind as a bat tbh.

For anyone wondering they're mined online using people's computers, not actually in a hole. You only get a few pence a day of you were to consider it but your electricity bill would outweigh the bitcoin you get back.

[Nudga]

I've heard there are companies that can mine it for you for a commission. 

[not on facebook]

Knackers the above has done it for me as I got the wrong end of the stick completely .

I have been kicking around if the dam stuff is mined out of the ground where do al the coins go ,and now it turns out its mined online .

Think I will call it a day and leave my wedge in the stocks/ funds that I have paid into since 2011.

[not on facebook]

I've heard there are companies that can mine it for you for a commission.

Do they all have NCB donkey jackets on

[Nudga]

I've heard there are companies that can mine it for you for a commission.

Do they all have NCB donkey jackets on

Yes, virtual ones 😉

[DonnyOsmond]

Knackers the above has done it for me as I got the wrong end of the stick completely .

I have been kicking around if the dam stuff is mined out of the ground where do al the coins go ,and now it turns out its mined online .

Think I will call it a day and leave my wedge in the stocks/ funds that I have paid into since 2011.

[DonnyOsmond]

They are worth investing in though.
Bitcoin has gone from around £100 in 2013 to around £3,000 now.
Litecoin has gone from around £2 in 2013 to £40/£50 now.
Ethereum has gone from around 50p in 2015 to £250 now. It does fluctuate a bit more though.

Don't worry anyone interested you can buy 0.00001 of a bitcoin or the others.

[selby]

  It has been labeled fraud today by respected financial people.

[idler]

If it is so easy to make a good profit why aren't financial advisors and millionaires buying them up?

[drfchound]

If it is so easy to make a good profit why aren't financial advisors and millionaires buying them up?

I thought that too.

[not on facebook]

If it is so easy to make a good profit why aren't financial advisors and millionaires buying them up?

I could be way off the mark here but I will have a uneducated stab .

Maybe it's because bitcoin has the possibllty to put a spanner into the works of how the banking system was built on and cause havoc after a certian point.

This will also tie in with so called respected financial advisors claiming bitcoin etc etc to be labeled fraud .

If bitcoin is really really successfull in whatever amount of years ,it could well change the whole banking structure and how we spend are currency.


I thought that too.

[DonnyOsmond]

  It has been labeled fraud today by respected financial people.

CEO of bank labels something they don't have any control over as a fraud shock.

[Glyn_Wigley]

If it is so easy to make a good profit why aren't financial advisors and millionaires buying them up?

Because unlike real currencies which are backed up by gold, virtual currencies worth are based on nothing more than peoples' confidence in them, which strikes me as very South Sea Bubble. They're all very well to make money out of if you time it right and get out before they disappear down the plughole.

https://www.economist.com/news/finance-and-economics/21599053-chronic-deflation-may-keep-bitcoin-displacing-its-fiat-rivals-money

[not on facebook]

  It has been labeled fraud today by respected financial people.

CEO of bank labels something they don't have any control over as a fraud shock.

That's the exact way I read it

[Glyn_Wigley]

  It has been labeled fraud today by respected financial people.

CEO of bank labels something they don't have any control over as a fraud shock.

That's the exact way I read it

Why? Banks don't control hard currencies either.

[RobTheRover]

  It has been labeled fraud today by respected financial people.

CEO of bank labels something they don't have any control over as a fraud shock.

That's the exact way I read it

If you fancy some light reading, investigate blockchains.  This is the technology that underpins it all, and makes it completely fraud proof.  This is probably also why the banks are against it, no chance to syphon a bit off for themselves.

[GazLaz]

  It has been labeled fraud today by respected financial people.

CEO of bank labels something they don't have any control over as a fraud shock.

That's the exact way I read it

If you fancy some light reading, investigate blockchains.  This is the technology that underpins it all, and makes it completely fraud proof.  This is probably also why the banks are against it, no chance to syphon a bit off for themselves.

I was going to write a big post about this earlier but I get bored after a couple of sentences. You've hit the nail on the head though there Rob, the blockchain is the genius behind all this, it will be used for all sorts of things in the future.