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€100 of Bitcoin in 2010 = €70m today

Posted: Mon May 22, 2017 1:17 pm
by Cabbage
:shock:
Did anyone get in on it? Been reading horror stories where people bought thousands of bitcoins for pocket change but lost them all through hard drive failure or simply forgetting about them / wallet passwords. Someone once paid 10,000 bitcoins for 2 pizzas, worth €20m today :shock:

Re: €100 of Bitcoin in 2010 = €70m today

Posted: Mon May 22, 2017 1:29 pm
by Farva
Hope it was a good pizza.

Re: €100 of Bitcoin in 2010 = €70m today

Posted: Mon May 22, 2017 1:44 pm
by sewa
Is the point of a currency not that you can use it to buy things. If people are just holding it then it is no more than a pyramid scheme

Re: €100 of Bitcoin in 2010 = €70m today

Posted: Mon May 22, 2017 1:53 pm
by Red5
How can you convert bitcoins into sovereign currency?

Re: €100 of Bitcoin in 2010 = €70m today

Posted: Mon May 22, 2017 1:54 pm
by Sandstorm
Red5 wrote:How can you convert bitcoins into sovereign currency?
There are 3 or 4 different methods. Read here, it's fairly interesting :)

http://www.coindesk.com/information/sell-bitcoin/

Re: €100 of Bitcoin in 2010 = €70m today

Posted: Mon May 22, 2017 1:56 pm
by Sandstorm
BTW this thread annoys me! I thought free Yahoo shares were stupid in 1996 and laughed them off. Ditto Bitcoin in 2010. :x

Re: €100 of Bitcoin in 2010 = €70m today

Posted: Mon May 22, 2017 2:06 pm
by Azlan Roar
Red5 wrote:How can you convert bitcoins into sovereign currency?
https://uphold.com/en do a good job of this.

Re: €100 of Bitcoin in 2010 = €70m today

Posted: Mon May 22, 2017 2:43 pm
by Zakar
I've been thinking about puting £500 or so in etherium. I doubt it will spike as much as bitcoin, but still.

Re: €100 of Bitcoin in 2010 = €70m today

Posted: Mon May 22, 2017 3:18 pm
by Insane_Homer
sewa wrote:Is the point of a currency not that you can use it to buy things. If people are just holding it then it is no more than a pyramid scheme
you mean like an ISA?

Re: €100 of Bitcoin in 2010 = €70m today

Posted: Mon May 22, 2017 3:22 pm
by sorCrer
Zakar wrote:I've been thinking about puting £500 or so in etherium. I doubt it will spike as much as bitcoin, but still.
ETH is flying. Hit $USD175 today I bought them at $7 last year.

Ripple is up nearly 4000% since 01 Feb 2017. Stellar Lumens another to watch.

The age of fiat is coming to an end.

Re: €100 of Bitcoin in 2010 = €70m today

Posted: Mon May 22, 2017 3:27 pm
by sorCrer
Sandstorm wrote:
Red5 wrote:How can you convert bitcoins into sovereign currency?
There are 3 or 4 different methods. Read here, it's fairly interesting :)

http://www.coindesk.com/information/sell-bitcoin/
In SA we use luno.com. Money is in your bank account within an hour. Sold 2 BTC 2 weeks ago at R17k. They're trading at R32k today :(

Re: €100 of Bitcoin in 2010 = €70m today

Posted: Mon May 22, 2017 3:29 pm
by Chuckles1188
Insane_Homer wrote:
sewa wrote:Is the point of a currency not that you can use it to buy things. If people are just holding it then it is no more than a pyramid scheme
you mean like an ISA?
Are ISAs denominated in their own unique currency?

Re: €100 of Bitcoin in 2010 = €70m today

Posted: Mon May 22, 2017 3:29 pm
by globus
I just hung on to property.

Re: €100 of Bitcoin in 2010 = €70m today

Posted: Mon May 22, 2017 3:41 pm
by sewa
Insane_Homer wrote:
sewa wrote:Is the point of a currency not that you can use it to buy things. If people are just holding it then it is no more than a pyramid scheme
you mean like an ISA?
Are ISA's incredibly volatile assets?

Re: €100 of Bitcoin in 2010 = €70m today

Posted: Mon May 22, 2017 3:41 pm
by kiwigreg369
Strange , not what your register of interests say.

Shirley you're not misleading someone .... are you?

KG

Re: €100 of Bitcoin in 2010 = €70m today

Posted: Mon May 22, 2017 3:42 pm
by MorseCode
sewa wrote:Is the point of a currency not that you can use it to buy things. If people are just holding it then it is no more than a pyramid scheme
Sometimes you can use them to unlock your computer

Re: €100 of Bitcoin in 2010 = €70m today

Posted: Mon May 22, 2017 3:52 pm
by globus
kiwigreg369 wrote:Strange , not what your register of interests say.

Shirley you're not misleading someone .... are you?

KG
If you are referring to me, my register of interests do not have to include property not in the parish.

And they are miles away, not within many hours drive in all cases.

Re: €100 of Bitcoin in 2010 = €70m today

Posted: Mon May 22, 2017 4:01 pm
by The Sun God
Cabbage wrote::shock:
Did anyone get in on it? Been reading horror stories where people bought thousands of bitcoins for pocket change but lost them all through hard drive failure or simply forgetting about them / wallet passwords. Someone once paid 10,000 bitcoins for 2 pizzas, worth €20m today :shock:
I was having a drink last week in Dublin with a very clued in young Lady who I used to deal with in one of the banks. She is very blockchain/cryptocurrency savvie but she told me she liquidated her personal bitcoin position earlier this year having built a position over the past 3. Her net profit.....17 million Euros. I never got involved myself but I am starting to look at some similar avenues.

Re: €100 of Bitcoin in 2010 = €70m today

Posted: Mon May 22, 2017 4:11 pm
by TheBouncer
The Sun God wrote:
Cabbage wrote::shock:
Did anyone get in on it? Been reading horror stories where people bought thousands of bitcoins for pocket change but lost them all through hard drive failure or simply forgetting about them / wallet passwords. Someone once paid 10,000 bitcoins for 2 pizzas, worth €20m today :shock:
I was having a drink last week in Dublin with a very clued in young Lady who I used to deal with in one of the banks. She is very blockchain/cryptocurrency savvie but she told me she liquidated her personal bitcoin position earlier this year having built a position over the past 3. Her net profit.....17 million Euros. I never got involved myself but I am starting to look at some similar avenues.
Very impressive.

I'm biased but for now, in my humble opinion, eth is he only show in town. Bitcoin has the network going and I respect its contribution to the space but ethereum's potential is on another stratosphere. Ripple's rise makes no sense to me (what exactly is the value of XRP to merit this valuation?)

I'll keep an eye on others and their use cases (tezos, nem etc) but for now my entire position is eth and I don't foresee any substantial change soon.

Re: €100 of Bitcoin in 2010 = €70m today

Posted: Mon May 22, 2017 4:24 pm
by sewa
Your entire position is probably 20 quid ffs

Re: €100 of Bitcoin in 2010 = €70m today

Posted: Mon May 22, 2017 4:25 pm
by Sandstorm
:lol:

Re: €100 of Bitcoin in 2010 = €70m today

Posted: Mon May 22, 2017 4:26 pm
by TheBouncer
:lol:

i love you sewa don't upset me

Re: €100 of Bitcoin in 2010 = €70m today

Posted: Mon May 22, 2017 4:43 pm
by sewa
TheBouncer wrote::lol:

i love you sewa don't upset me
No offence meant, when you see some of the high rollers (TSG, Globby etc) here talking about their money it makes me laugh. They'd swap it all for a decent hard on and a full head of hair

Re: €100 of Bitcoin in 2010 = €70m today

Posted: Mon May 22, 2017 5:16 pm
by Mahoney
TheBouncer wrote:I'm biased but for now, in my humble opinion, eth is he only show in town.
Could you recommend an exchange? I know that BTC had loads of issues with incompetently secured or dishonest exchanges not so very long ago.

Re: €100 of Bitcoin in 2010 = €70m today

Posted: Mon May 22, 2017 6:21 pm
by JM2K6
Mahoney wrote:
TheBouncer wrote:I'm biased but for now, in my humble opinion, eth is he only show in town.
Could you recommend an exchange? I know that BTC had loads of issues with incompetently secured or dishonest exchanges not so very long ago.
That plus the inherent delays in authenticating transactions make me wonder about the real future for this stuff.

Re: €100 of Bitcoin in 2010 = €70m today

Posted: Mon May 22, 2017 7:22 pm
by TheBouncer
Mahoney wrote:
TheBouncer wrote:I'm biased but for now, in my humble opinion, eth is he only show in town.
Could you recommend an exchange? I know that BTC had loads of issues with incompetently secured or dishonest exchanges not so very long ago.
I use Kraken (liquidity very good) but trade euro, haven't used it for sterling.

Nowhere is the infancy of the space more evident than the exchanges

-arduous verification processes
-non existent customer support
-ddos lockdowns

all a way of life but I haven't encountered any dishonesty.

I am concerned that many of the new wave will be scared off by the inadequacies of these exchanges... the pace of change elsewhere needs to be mirrored there

Re: €100 of Bitcoin in 2010 = €70m today

Posted: Mon May 22, 2017 7:43 pm
by Zakar
Just tried to sign up to coinbase. 503 service unavailable.

Re: €100 of Bitcoin in 2010 = €70m today

Posted: Mon May 22, 2017 8:06 pm
by Mahoney
TheBouncer wrote:
Mahoney wrote:
TheBouncer wrote:I'm biased but for now, in my humble opinion, eth is he only show in town.
Could you recommend an exchange? I know that BTC had loads of issues with incompetently secured or dishonest exchanges not so very long ago.
I use Kraken (liquidity very good) but trade euro, haven't used it for sterling.
Thanks!

Re: €100 of Bitcoin in 2010 = €70m today

Posted: Mon May 22, 2017 8:41 pm
by jolindien
The Sun God wrote:
Cabbage wrote::shock:
Did anyone get in on it? Been reading horror stories where people bought thousands of bitcoins for pocket change but lost them all through hard drive failure or simply forgetting about them / wallet passwords. Someone once paid 10,000 bitcoins for 2 pizzas, worth €20m today :shock:
I was having a drink last week in Dublin with a very clued in young Lady who I used to deal with in one of the banks. She is very blockchain/cryptocurrency savvie but she told me she liquidated her personal bitcoin position earlier this year having built a position over the past 3. Her net profit.....17 million Euros. I never got involved myself but I am starting to look at some similar avenues.
What a fail !
So basically you're telling us you have no bitcoin, you met a master girl with millions in bank in a bar and you didn't even end in some red and gold hotel room urinating on her face ?
Poor story really.
And what about that rule that could have saved your miserable post ?

Re: €100 of Bitcoin in 2010 = €70m today

Posted: Mon May 22, 2017 8:46 pm
by Sandstorm
Fcuk me :lol:

Re: €100 of Bitcoin in 2010 = €70m today

Posted: Mon May 22, 2017 9:40 pm
by CrazyIslander
Wow@ value increase. Wish I had done it.

Re: €100 of Bitcoin in 2010 = €70m today

Posted: Tue May 23, 2017 1:50 am
by sunnybanana
Bought in @ $30 back in 2011. Only 10 coins though.

Re: €100 of Bitcoin in 2010 = €70m today

Posted: Tue May 23, 2017 1:58 am
by Jeff the Bear
jolindien wrote:
The Sun God wrote:
Cabbage wrote::shock:
Did anyone get in on it? Been reading horror stories where people bought thousands of bitcoins for pocket change but lost them all through hard drive failure or simply forgetting about them / wallet passwords. Someone once paid 10,000 bitcoins for 2 pizzas, worth €20m today :shock:
I was having a drink last week in Dublin with a very clued in young Lady who I used to deal with in one of the banks. She is very blockchain/cryptocurrency savvie but she told me she liquidated her personal bitcoin position earlier this year having built a position over the past 3. Her net profit.....17 million Euros. I never got involved myself but I am starting to look at some similar avenues.
What a fail !
So basically you're telling us you have no bitcoin, you met a master girl with millions in bank in a bar and you didn't even end in some red and gold hotel room urinating on her face ?
Poor story really.
And what about that rule that could have saved your miserable post ?
:lol:

Re: €100 of Bitcoin in 2010 = €70m today

Posted: Tue May 23, 2017 3:25 am
by fonzeee
I have to admit, I really don't understand how this works. Not dismissing it, mind.
sorCrer wrote:The age of fiat is coming to an end.
How do you mean?

Re: €100 of Bitcoin in 2010 = €70m today

Posted: Tue May 23, 2017 5:26 am
by Pat the Ex Mat
fonzeee wrote:I have to admit, I really don't understand how this works. Not dismissing it, mind.
sorCrer wrote:The age of fiat is coming to an end.
How do you mean?
Chrysler takeover innit

Re: €100 of Bitcoin in 2010 = €70m today

Posted: Tue May 23, 2017 6:34 am
by sorCrer
fonzeee wrote:I have to admit, I really don't understand how this works. Not dismissing it, mind.
sorCrer wrote:The age of fiat is coming to an end.
How do you mean?
Paper money is coming to an end.

Re: €100 of Bitcoin in 2010 = €70m today

Posted: Tue May 23, 2017 6:55 am
by paneer
It amazes me how people are still surprised by bitcoin.

ethereum was on a run till yesterday.

Re: €100 of Bitcoin in 2010 = €70m today

Posted: Tue May 23, 2017 7:05 am
by fonzeee
sorCrer wrote:
fonzeee wrote:I have to admit, I really don't understand how this works. Not dismissing it, mind.
sorCrer wrote:The age of fiat is coming to an end.
How do you mean?
Paper money is coming to an end.
That's what I thought you meant.

I won't burden you by asking for further explanation since I'm sure it would be time-consuming to explain and, again, I probably won't get it anyway.

Re: €100 of Bitcoin in 2010 = €70m today

Posted: Tue May 23, 2017 7:49 am
by sorCrer
fonzeee wrote:
sorCrer wrote:
fonzeee wrote:I have to admit, I really don't understand how this works. Not dismissing it, mind.
sorCrer wrote:The age of fiat is coming to an end.
How do you mean?
Paper money is coming to an end.
That's what I thought you meant.

I won't burden you by asking for further explanation since I'm sure it would be time-consuming to explain and, again, I probably won't get it anyway.
Traditional money has too many faults for it not to be replaced. I barely even carry it anymore. Now we have an increasingly reliable alternative.

Re: €100 of Bitcoin in 2010 = €70m today

Posted: Tue May 23, 2017 8:17 am
by fonzeee
Oh sure, if you mean paper currency, but doesn't "traditional money" also include the dollars on my debit card, for instance? I guess what I'm asking is, how do the likes of Bitcoin and other digital currencies come into play in that regard?