€100 of Bitcoin in 2010 = €70m today

All things Rugby
Post Reply
Cabbage
Posts: 1148
Joined: Tue Jan 31, 2012 11:05 am

€100 of Bitcoin in 2010 = €70m today

Post 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:
User avatar
Farva
Posts: 17117
Joined: Tue Jan 31, 2012 11:05 am
Location: STRAYA PLUM

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

Post by Farva »

Hope it was a good pizza.
User avatar
sewa
Posts: 21739
Joined: Tue Jan 31, 2012 11:05 am

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

Post 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
Red5
Posts: 106
Joined: Fri May 19, 2017 1:54 pm

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

Post by Red5 »

How can you convert bitcoins into sovereign currency?
User avatar
Sandstorm
Posts: 28502
Joined: Tue Jan 31, 2012 11:05 am
Location: Chickenrunning...

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

Post 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/
User avatar
Sandstorm
Posts: 28502
Joined: Tue Jan 31, 2012 11:05 am
Location: Chickenrunning...

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

Post 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
User avatar
Azlan Roar
Posts: 3096
Joined: Tue Jan 31, 2012 11:05 am
Location: Adopted Lion - Jon Davies

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

Post by Azlan Roar »

Red5 wrote:How can you convert bitcoins into sovereign currency?
https://uphold.com/en do a good job of this.
User avatar
Zakar
Posts: 16686
Joined: Tue Jan 31, 2012 11:05 am
Location: Haunting your dreams

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

Post by Zakar »

I've been thinking about puting £500 or so in etherium. I doubt it will spike as much as bitcoin, but still.
User avatar
Insane_Homer
Posts: 12132
Joined: Tue Jan 31, 2012 11:05 am
Location: Leafy Surrey, UK

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

Post 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?
User avatar
sorCrer
Posts: 12256
Joined: Tue Jan 31, 2012 11:05 am

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

Post 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.
User avatar
sorCrer
Posts: 12256
Joined: Tue Jan 31, 2012 11:05 am

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

Post 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 :(
User avatar
Chuckles1188
Posts: 40610
Joined: Thu Mar 21, 2013 11:54 am
Location: Joint No. 3 to Cyprus

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

Post 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?
User avatar
globus
Posts: 52639
Joined: Tue Jan 31, 2012 11:05 am
Location: Oundle

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

Post by globus »

I just hung on to property.
User avatar
sewa
Posts: 21739
Joined: Tue Jan 31, 2012 11:05 am

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

Post 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?
User avatar
kiwigreg369
Posts: 5235
Joined: Tue Jan 31, 2012 11:05 am

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

Post by kiwigreg369 »

Strange , not what your register of interests say.

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

KG
User avatar
MorseCode
Posts: 2195
Joined: Sun Jul 15, 2012 5:07 pm

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

Post 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
User avatar
globus
Posts: 52639
Joined: Tue Jan 31, 2012 11:05 am
Location: Oundle

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

Post 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.
User avatar
The Sun God
Posts: 12828
Joined: Tue Jan 31, 2012 11:05 am
Location: Best country in the world.

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

Post 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.
User avatar
TheBouncer
Posts: 6173
Joined: Tue Jan 31, 2012 11:05 am

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

Post 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.
User avatar
sewa
Posts: 21739
Joined: Tue Jan 31, 2012 11:05 am

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

Post by sewa »

Your entire position is probably 20 quid ffs
User avatar
Sandstorm
Posts: 28502
Joined: Tue Jan 31, 2012 11:05 am
Location: Chickenrunning...

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

Post by Sandstorm »

:lol:
User avatar
TheBouncer
Posts: 6173
Joined: Tue Jan 31, 2012 11:05 am

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

Post by TheBouncer »

:lol:

i love you sewa don't upset me
User avatar
sewa
Posts: 21739
Joined: Tue Jan 31, 2012 11:05 am

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

Post 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
User avatar
Mahoney
Posts: 4096
Joined: Tue Jan 31, 2012 11:05 am

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

Post 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.
User avatar
JM2K6
Posts: 37186
Joined: Tue Jan 31, 2012 11:05 am

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

Post 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.
User avatar
TheBouncer
Posts: 6173
Joined: Tue Jan 31, 2012 11:05 am

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

Post 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
User avatar
Zakar
Posts: 16686
Joined: Tue Jan 31, 2012 11:05 am
Location: Haunting your dreams

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

Post by Zakar »

Just tried to sign up to coinbase. 503 service unavailable.
User avatar
Mahoney
Posts: 4096
Joined: Tue Jan 31, 2012 11:05 am

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

Post 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!
jolindien
Posts: 6775
Joined: Tue Jan 31, 2012 11:05 am

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

Post 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 ?
User avatar
Sandstorm
Posts: 28502
Joined: Tue Jan 31, 2012 11:05 am
Location: Chickenrunning...

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

Post by Sandstorm »

Fcuk me :lol:
User avatar
CrazyIslander
Posts: 19320
Joined: Sun Sep 16, 2012 5:34 am

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

Post by CrazyIslander »

Wow@ value increase. Wish I had done it.
sunnybanana
Posts: 2238
Joined: Tue Jan 31, 2012 11:05 am

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

Post by sunnybanana »

Bought in @ $30 back in 2011. Only 10 coins though.
User avatar
Jeff the Bear
Posts: 18993
Joined: Tue Jan 31, 2012 11:05 am

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

Post 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:
User avatar
fonzeee
Posts: 3656
Joined: Thu Oct 18, 2012 9:10 pm
Location: Boston

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

Post 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?
User avatar
Pat the Ex Mat
Posts: 5512
Joined: Wed Apr 27, 2016 1:50 am

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

Post 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
User avatar
sorCrer
Posts: 12256
Joined: Tue Jan 31, 2012 11:05 am

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

Post 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.
User avatar
paneer
Posts: 1472
Joined: Sun Nov 13, 2016 8:13 pm

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

Post by paneer »

It amazes me how people are still surprised by bitcoin.

ethereum was on a run till yesterday.
User avatar
fonzeee
Posts: 3656
Joined: Thu Oct 18, 2012 9:10 pm
Location: Boston

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

Post 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.
User avatar
sorCrer
Posts: 12256
Joined: Tue Jan 31, 2012 11:05 am

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

Post 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.
User avatar
fonzeee
Posts: 3656
Joined: Thu Oct 18, 2012 9:10 pm
Location: Boston

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

Post 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?
Post Reply