voice
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Goals are a form of self inflicted slavery
Posts: 41,231
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Post by voice on Apr 11, 2013 16:32:34 GMT
he Bitcoin virtual currency lost half its value on Wednesday because of a panic sell-off. From a high of $260 (£169) for each Bitcoin, the value dropped to about $130 (£84) in just six hours. The selling frenzy began as Bitcoin's main exchange, MTGox, struggled to keep up with the volume of trade in the virtual currency. MTGox said it was working hard to improve the exchange to avoid future trading problems. www.bbc.co.uk/news/technology-22105322All those arms dealers and drug producers/runners will not be happy |
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Post by flatandy on Apr 11, 2013 16:34:06 GMT
I have some exceedingly rare tulip bulbs if you're interested?
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mistressdao
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K1, sl1 k2tog psso, yf k1, yf k3
Posts: 2,008
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Post by mistressdao on Apr 11, 2013 18:42:40 GMT
I have box of brass buttons
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auldhippy
New Member
"There are some ideas so absurd that only an intellectual could believe them." Orwell
Posts: 27,830
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Post by auldhippy on Apr 11, 2013 19:27:38 GMT
I have weed.
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mistressdao
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K1, sl1 k2tog psso, yf k1, yf k3
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Post by mistressdao on Apr 11, 2013 19:33:56 GMT
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Deleted
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Post by Deleted on Apr 11, 2013 20:37:50 GMT
I have some jars of pickled onions and oat biscuits
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Deleted
Deleted Member
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Post by Deleted on Apr 11, 2013 20:43:13 GMT
And a turnip in the fridge
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mistressdao
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K1, sl1 k2tog psso, yf k1, yf k3
Posts: 2,008
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Post by mistressdao on Apr 11, 2013 20:44:56 GMT
I'll see your turnip and raise a parsnip
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Deleted
Deleted Member
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Post by Deleted on Apr 11, 2013 20:46:20 GMT
I wouldn't show anyone my turnip  |
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Post by Repat Van on Apr 11, 2013 20:48:13 GMT
What the f**k is a Bitcoin?
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Deleted
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Post by Deleted on Apr 11, 2013 20:56:02 GMT
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Eric
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Posts: 22,041
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Post by Eric on Apr 12, 2013 8:17:23 GMT
Its quite amazing what crap can be put forward to be money. And utterly crazy that people buy into it.
I'm sort of with Yord on this, in his pronunciations that our time is the only resource of value. And good time is of higher value than bad time. Just not sure how that could be better made to be money than, err, money. Preferably with some intrinsic value.
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yord
New Member
Posts: 14,352 
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Post by yord on Apr 12, 2013 8:53:32 GMT
it is your only resource and if you must give it away then it should be given voluntary and not to those twats from governments right down to clip board weilding idiots on the streets asking if you can spare a minute of your time for their own parasitical needs. " No f**k off ! " coz the second you do the fuckers will be back demanding more and more of it.
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Post by perrykneeham on Mar 20, 2024 20:40:25 GMT
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Post by Repat Van on Mar 20, 2024 21:20:13 GMT
What the f**k is a Bitcoin? I still have no idea how Bitcoin works. |
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mids
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Posts: 61,015
Member is Online
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Post by mids on Mar 20, 2024 21:35:42 GMT
Me neither. I've had people try to explain it to me but, nope.
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Post by perrykneeham on Mar 20, 2024 21:43:57 GMT
Still, that Chinese lady knew how it works. Criminal stuff, it looks like.
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Post by flatandy on Mar 20, 2024 21:49:32 GMT
It’s basically upheld by magic. You can think of it like holding dollars or pounds, but it’s not backed by anything real and the value is utterly randomised, driven purely by supply and demand rather than real things.
If you adhere to Warren Buffet’s principle that you should only invest in companies that make things you understand - which is a pretty good maxim, on the whole - then you shouldn’t invest in Bitcoin. There’s some very computer intensive use of blockchain that theoretically means it can’t get stolen, but fundamentally you are buying and selling dead tulip bulbs and hoping that there are other people that want your dead tulip bulbs.
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Post by flatandy on Mar 20, 2024 21:51:15 GMT
Also, I suspect maybe 1% of people who buy and sell crypto have the faintest idea of what blockchain is and why it’s relevant to a currency. The rest of it is people buying in the hope that the value goes up, the same way that people day-trade stocks. It’s gambling. Nothing more.
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Post by unclejunior on Mar 20, 2024 22:12:21 GMT
Haha … I have owned Bitcoin from before this thread started …sold it to soon .
Alternatives are coming 😊
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