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PostPosted: Mon May 22, 2017 1:17 pm 
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: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:


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


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PostPosted: Mon May 22, 2017 1:44 pm 
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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


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


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PostPosted: Mon May 22, 2017 1:54 pm 
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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/


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


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PostPosted: Mon May 22, 2017 2:06 pm 
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Red5 wrote:
How can you convert bitcoins into sovereign currency?


https://uphold.com/en do a good job of this.


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


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PostPosted: Mon May 22, 2017 3:18 pm 
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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?


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PostPosted: Mon May 22, 2017 3:22 pm 
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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.


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PostPosted: Mon May 22, 2017 3:27 pm 
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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 :(


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PostPosted: Mon May 22, 2017 3:29 pm 
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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?


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


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PostPosted: Mon May 22, 2017 3:41 pm 
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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?


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

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

KG


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PostPosted: Mon May 22, 2017 3:42 pm 
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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


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PostPosted: Mon May 22, 2017 3:52 pm 
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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.


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PostPosted: Mon May 22, 2017 4:01 pm 
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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.


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PostPosted: Mon May 22, 2017 4:11 pm 
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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.


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


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PostPosted: Mon May 22, 2017 4:25 pm 
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:lol:


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PostPosted: Mon May 22, 2017 4:26 pm 
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:lol:

i love you sewa don't upset me


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PostPosted: Mon May 22, 2017 4:43 pm 
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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


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PostPosted: Mon May 22, 2017 5:16 pm 
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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.


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PostPosted: Mon May 22, 2017 6:21 pm 
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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.


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PostPosted: Mon May 22, 2017 7:22 pm 
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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


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


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PostPosted: Mon May 22, 2017 8:06 pm 
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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!


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PostPosted: Mon May 22, 2017 8:41 pm 
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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 ?


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PostPosted: Mon May 22, 2017 8:46 pm 
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Fcuk me :lol:


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


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


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PostPosted: Tue May 23, 2017 1:58 am 
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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:


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PostPosted: Tue May 23, 2017 3:25 am 
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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?


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PostPosted: Tue May 23, 2017 5:26 am 
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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


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PostPosted: Tue May 23, 2017 6:34 am 
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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.


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

ethereum was on a run till yesterday.


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PostPosted: Tue May 23, 2017 7:05 am 
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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.


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PostPosted: Tue May 23, 2017 7:49 am 
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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.


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PostPosted: Tue May 23, 2017 8:17 am 
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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?


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