€100 of Bitcoin in 2010 = €70m today

All things Rugby
bimboman
Posts: 65820
Joined: Tue Jan 31, 2012 11:05 am

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

Post by bimboman »

sorCrer wrote:https://www.forbes.com/sites/panosmourd ... oin-again/

Refer link to Wall Street Journal.

Hardly dead?

Nothing days replacing the petrodollar like Dunoon doughnuts.
User avatar
FairWeather_Aussie
Posts: 1159
Joined: Tue Jan 31, 2012 11:05 am

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

Post by FairWeather_Aussie »

sorCrer wrote:
Anonymous. wrote:
sorCrer wrote:Tulip fever never happened the way you may think it did.
And Bitcoin at around 10c to a dollar will be a winner
BTC at its current price is 10x what it was when we first started talking about it on here. A 'cryptocurrency' or derivative will replace hard currency. Despite the negativity around BTC for example, more and more of the younger generation are buying into it.
When you say buying into it, do you mean using it as a currency or speculating on it. It’s probably both.
User avatar
sorCrer
Posts: 12257
Joined: Tue Jan 31, 2012 11:05 am

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

Post by sorCrer »

bimboman wrote:
sorCrer wrote:
Anonymous. wrote:
sorCrer wrote:Tulip fever never happened the way you may think it did.
And Bitcoin at around 10c to a dollar will be a winner
BTC at its current price is 10x what it was when we first started talking about it on here. A 'cryptocurrency' or derivative will replace hard currency. Despite the negativity around BTC for example, more and more of the younger generation are buying into it.

It will only happen when the three or four largest powers allow it to happen. You get that right ?
I think you completely under estimate the power of government over society.
User avatar
sorCrer
Posts: 12257
Joined: Tue Jan 31, 2012 11:05 am

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

Post by sorCrer »

FairWeather_Aussie wrote:
sorCrer wrote:
Anonymous. wrote:
sorCrer wrote:Tulip fever never happened the way you may think it did.
And Bitcoin at around 10c to a dollar will be a winner
BTC at its current price is 10x what it was when we first started talking about it on here. A 'cryptocurrency' or derivative will replace hard currency. Despite the negativity around BTC for example, more and more of the younger generation are buying into it.
When you say buying into it, do you mean using it as a currency or speculating on it. It’s probably both.
Buying into the concept of cryptocurrency or a derivative.
User avatar
FairWeather_Aussie
Posts: 1159
Joined: Tue Jan 31, 2012 11:05 am

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

Post by FairWeather_Aussie »

The ones using it as a currency will be holding it for a couple of minutes. The ones speculating will need to find someone to buy it a higher price. Who would they be?
User avatar
Anonymous 1
Posts: 38430
Joined: Sun Feb 05, 2012 3:15 pm
Location: Planet Rock

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

Post by Anonymous 1 »

sorCrer wrote:https://www.forbes.com/sites/panosmourd ... oin-again/

Refer link to Wall Street Journal.

Hardly dead?
I'm of the opinion it's here to stay. I just think that it's value continues to plummet you will keep saying how much more it's worth now than it was way back when. Just as you have been doing for the best part of a year.
bimboman
Posts: 65820
Joined: Tue Jan 31, 2012 11:05 am

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

Post by bimboman »

sorCrer wrote:
bimboman wrote:
sorCrer wrote:
Anonymous. wrote:
sorCrer wrote:Tulip fever never happened the way you may think it did.
And Bitcoin at around 10c to a dollar will be a winner
BTC at its current price is 10x what it was when we first started talking about it on here. A 'cryptocurrency' or derivative will replace hard currency. Despite the negativity around BTC for example, more and more of the younger generation are buying into it.

It will only happen when the three or four largest powers allow it to happen. You get that right ?
I think you completely under estimate the power of government over society.

I think that's my argument !
User avatar
sorCrer
Posts: 12257
Joined: Tue Jan 31, 2012 11:05 am

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

Post by sorCrer »

Anonymous. wrote:
sorCrer wrote:https://www.forbes.com/sites/panosmourd ... oin-again/

Refer link to Wall Street Journal.

Hardly dead?
I'm of the opinion it's here to stay. I just think that it's value continues to plummet you will keep saying how much more it's worth now than it was way back when. Just as you have been doing for the best part of a year.
I've been posting positively about cryptocurrencies on here since 2014. It clearly isn't worth more now then it was a year ago but it has born the brunt of a continuous onslaught from more established financial thinking (understandably) and survived thus far.
User avatar
FairWeather_Aussie
Posts: 1159
Joined: Tue Jan 31, 2012 11:05 am

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

Post by FairWeather_Aussie »

Sorcerer,

What do you think is the value of bitcoin, other than what you believe someone will pay you more for it? Tulips are beautiful, they look great when tryin to spice up your apartment without being too unmanly about it but I fail to see what cryptocurrencies have overtulips. I mean I can’t even hold them. Some of the logo’s are nice, but not quite as nice as a lovely red and yellow arrangement of tulips.
User avatar
sorCrer
Posts: 12257
Joined: Tue Jan 31, 2012 11:05 am

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

Post by sorCrer »

FairWeather_Aussie wrote:Sorcerer,

What do you think is the value of bitcoin, other than what you believe someone will pay you more for it? Tulips are beautiful, they look great when tryin to spice up your apartment without being too unmanly about it but I fail to see what cryptocurrencies have overtulips. I mean I can’t even hold them. Some of the logo’s are nice, but not quite as nice as a lovely red and yellow arrangement of tulips.
There are many things that you can't physically hold today that have value.

E.g

The Dragon Lore style of AWP is the most expensive CS:GO skin ever sold – in January 2018 it was sold for $61,052.63. Of course, it wasn’t a usual Dragon Lore, but a souvenir one with a unique set of stickers: PGL, G2 Esports, Cloud9, and Tyler “Skadoodle” Latham, who was MVP at the Boston Major 2018 and played for Cloud9, the winner of the tournament. This skin is one of a kind, there are no more of its type.

https://www.google.com/amp/s/skins.cash ... skins/amp/
User avatar
FairWeather_Aussie
Posts: 1159
Joined: Tue Jan 31, 2012 11:05 am

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

Post by FairWeather_Aussie »

sorCrer wrote:
FairWeather_Aussie wrote:Sorcerer,

What do you think is the value of bitcoin, other than what you believe someone will pay you more for it? Tulips are beautiful, they look great when tryin to spice up your apartment without being too unmanly about it but I fail to see what cryptocurrencies have overtulips. I mean I can’t even hold them. Some of the logo’s are nice, but not quite as nice as a lovely red and yellow arrangement of tulips.
There are many things that you can't physically hold today that have value.

E.g

The Dragon Lore style of AWP is the most expensive CS:GO skin ever sold – in January 2018 it was sold for $61,052.63. Of course, it wasn’t a usual Dragon Lore, but a souvenir one with a unique set of stickers: PGL, G2 Esports, Cloud9, and Tyler “Skadoodle” Latham, who was MVP at the Boston Major 2018 and played for Cloud9, the winner of the tournament. This skin is one of a kind, there are no more of its type.

https://www.google.com/amp/s/skins.cash ... skins/amp/
Well played. That made me laugh.

But as a serious question, I would like to understand what or where bitcoin holders believe its value value comes from?
Rumham
Posts: 7353
Joined: Tue Jan 31, 2012 3:07 pm

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

Post by Rumham »

FairWeather_Aussie wrote: But as a serious question, I would like to understand what or where bitcoin holders believe its value value comes from?
Other than buying illicit goods online, wtf do you need to use it for?
User avatar
sorCrer
Posts: 12257
Joined: Tue Jan 31, 2012 11:05 am

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

Post by sorCrer »

Rumham wrote:
FairWeather_Aussie wrote: But as a serious question, I would like to understand what or where bitcoin holders believe its value value comes from?
Other than buying illicit goods online, wtf do you need to use it for?
Real time, borderless transactions/store of value?
User avatar
FairWeather_Aussie
Posts: 1159
Joined: Tue Jan 31, 2012 11:05 am

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

Post by FairWeather_Aussie »

sorCrer wrote:
Rumham wrote:
FairWeather_Aussie wrote: But as a serious question, I would like to understand what or where bitcoin holders believe its value value comes from?
Other than buying illicit goods online, wtf do you need to use it for?
Real time, borderless transactions/store of value?
How is it a store of value?
User avatar
FairWeather_Aussie
Posts: 1159
Joined: Tue Jan 31, 2012 11:05 am

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

Post by FairWeather_Aussie »

sorCrer wrote:
Rumham wrote:
FairWeather_Aussie wrote: But as a serious question, I would like to understand what or where bitcoin holders believe its value value comes from?
Other than buying illicit goods online, wtf do you need to use it for?
Real time, borderless transactions/store of value?
Shouldn’t you say a speculation you think someone will pay more for in the future?
bimboman
Posts: 65820
Joined: Tue Jan 31, 2012 11:05 am

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

Post by bimboman »

sorCrer wrote:
Rumham wrote:
FairWeather_Aussie wrote: But as a serious question, I would like to understand what or where bitcoin holders believe its value value comes from?
Other than buying illicit goods online, wtf do you need to use it for?
Real time, borderless transactions/store of value?

It's not performing as a store of value.
Rumham
Posts: 7353
Joined: Tue Jan 31, 2012 3:07 pm

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

Post by Rumham »

sorCrer wrote:
Rumham wrote:
FairWeather_Aussie wrote: But as a serious question, I would like to understand what or where bitcoin holders believe its value value comes from?
Other than buying illicit goods online, wtf do you need to use it for?
Real time, borderless transactions/store of value?
There are many, many services offering this.

But the issue is I value actual currency over this fad. So there is no store of value whatsoever.
User avatar
UncleFB
Posts: 12937
Joined: Tue Jan 31, 2012 11:05 am

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

Post by UncleFB »

Rumham wrote:
sorCrer wrote:
Rumham wrote:
FairWeather_Aussie wrote: But as a serious question, I would like to understand what or where bitcoin holders believe its value value comes from?
Other than buying illicit goods online, wtf do you need to use it for?
Real time, borderless transactions/store of value?
There are many, many services offering this.

But the issue is I value actual currency over this fad. So there is no store of value whatsoever.
Hasn't it only been the arrival of the Lightning Network that has allowed real time transactions?
User avatar
Anonymous 1
Posts: 38430
Joined: Sun Feb 05, 2012 3:15 pm
Location: Planet Rock

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

Post by Anonymous 1 »

bimboman wrote:
sorCrer wrote:
Rumham wrote:
FairWeather_Aussie wrote: But as a serious question, I would like to understand what or where bitcoin holders believe its value value comes from?
Other than buying illicit goods online, wtf do you need to use it for?
Real time, borderless transactions/store of value?

It's not performing as a store of value.
If you consider a sieve to be a store of water then you consider Bitcoin to be a store of value.
User avatar
sewa
Posts: 21739
Joined: Tue Jan 31, 2012 11:05 am

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

Post by sewa »

Burning your cash has a value, its limited and short lived. Like bitcoin
User avatar
sorCrer
Posts: 12257
Joined: Tue Jan 31, 2012 11:05 am

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

Post by sorCrer »

Of course it currently isn't a store of value due to heavy speculation allied to early adoption. This may change in future.
User avatar
sorCrer
Posts: 12257
Joined: Tue Jan 31, 2012 11:05 am

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

Post by sorCrer »

Rumham wrote:
sorCrer wrote:
Rumham wrote:
FairWeather_Aussie wrote: But as a serious question, I would like to understand what or where bitcoin holders believe its value value comes from?
Other than buying illicit goods online, wtf do you need to use it for?
Real time, borderless transactions/store of value?
There are many, many services offering this.

But the issue is I value actual currency over this fad. So there is no store of value whatsoever.
There are? I presume they use a trusted 3rd party?
User avatar
kiwinoz
Posts: 6909
Joined: Tue Jan 31, 2012 11:05 am

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

Post by kiwinoz »

Just transferred LTC from US to my personal account. Instant. If I tried to move the equivalent in $ would take 1 to 2 days to show up in my account. Better still no third party ie a bank was needed or involved.
User avatar
sewa
Posts: 21739
Joined: Tue Jan 31, 2012 11:05 am

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

Post by sewa »

kiwinoz wrote:Just transferred LTC from US to my personal account. Instant. If I tried to move the equivalent in $ would take 1 to 2 days to show up in my account. Better still no third party ie a bank was needed or involved.
If you are the sort of person who can't budget well enough that you need this sort of urgent liquidity then maybe you aren't the financial expert we need
User avatar
sorCrer
Posts: 12257
Joined: Tue Jan 31, 2012 11:05 am

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

Post by sorCrer »

sewa wrote:
kiwinoz wrote:Just transferred LTC from US to my personal account. Instant. If I tried to move the equivalent in $ would take 1 to 2 days to show up in my account. Better still no third party ie a bank was needed or involved.
If you are the sort of person who can't budget well enough that you need this sort of urgent liquidity then maybe you aren't the financial expert we need
You're taking the piss a bit now, yes? :lol:

Here, this makes pleasant viewing for a change:

https://coin360.com/
User avatar
sewa
Posts: 21739
Joined: Tue Jan 31, 2012 11:05 am

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

Post by sewa »

sorCrer wrote:
sewa wrote:
kiwinoz wrote:Just transferred LTC from US to my personal account. Instant. If I tried to move the equivalent in $ would take 1 to 2 days to show up in my account. Better still no third party ie a bank was needed or involved.
If you are the sort of person who can't budget well enough that you need this sort of urgent liquidity then maybe you aren't the financial expert we need
You're taking the piss a bit now, yes? :lol:

Here, this makes pleasant viewing for a change:

https://coin360.com/
Nope, given I am an adult who can manage my finances why would I consider this a major perk? I actually keep my savings in a 30 day notice account. A bit of financial discipline is no big deal
User avatar
sorCrer
Posts: 12257
Joined: Tue Jan 31, 2012 11:05 am

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

Post by sorCrer »

sewa wrote:
sorCrer wrote:
sewa wrote:
kiwinoz wrote:Just transferred LTC from US to my personal account. Instant. If I tried to move the equivalent in $ would take 1 to 2 days to show up in my account. Better still no third party ie a bank was needed or involved.
If you are the sort of person who can't budget well enough that you need this sort of urgent liquidity then maybe you aren't the financial expert we need
You're taking the piss a bit now, yes? :lol:

Here, this makes pleasant viewing for a change:

https://coin360.com/
Nope, given I am an adult who can manage my finances why would I consider this a major perk? I actually keep my savings in a 30 day notice account. A bit of financial discipline is no big deal
I'm glad you're an adult interacting with other adults on here. OOI, what are the terms of access to the notice account? Instant withdrawal?
User avatar
sewa
Posts: 21739
Joined: Tue Jan 31, 2012 11:05 am

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

Post by sewa »

I have to inform the bank 30 days in advance if I want to remove funds. It's a great way to save, removes the temptation for impulse buying. It used to also attract higher rates of interest (sadly these are about 0%)
User avatar
sorCrer
Posts: 12257
Joined: Tue Jan 31, 2012 11:05 am

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

Post by sorCrer »

sewa wrote:I have to inform the bank 30 days in advance if I want to remove funds. It's a great way to save, removes the temptation for impulse buying. It used to also attract higher rates of interest (sadly these are about 0%)
Thats nice. However, I fail to see how this mitigates needing cash in the immediate future for an emergency or other pressing expense? Transferring money between international bank accounts in South Africa is not a simple task and is costly.
User avatar
sewa
Posts: 21739
Joined: Tue Jan 31, 2012 11:05 am

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

Post by sewa »

sorCrer wrote:
sewa wrote:I have to inform the bank 30 days in advance if I want to remove funds. It's a great way to save, removes the temptation for impulse buying. It used to also attract higher rates of interest (sadly these are about 0%)
Thats nice. However, I fail to see how this mitigates needing cash in the immediate future for an emergency or other pressing expense? Transferring money between international bank accounts in South Africa is not a simple task and is costly.
Well that's my core savings. I run a balance on my cash card each month and keep my credit card clear just in case. I can imagine its different in other countries ok
User avatar
kiwinoz
Posts: 6909
Joined: Tue Jan 31, 2012 11:05 am

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

Post by kiwinoz »

sewa wrote:
kiwinoz wrote:Just transferred LTC from US to my personal account. Instant. If I tried to move the equivalent in $ would take 1 to 2 days to show up in my account. Better still no third party ie a bank was needed or involved.
If you are the sort of person who can't budget well enough that you need this sort of urgent liquidity then maybe you aren't the financial expert we need
WTF? I was speaking of the speed of the transaction and no more. I had purchased some more LTC on an exchange and was moving it to an off exchange wallet.
User avatar
sorCrer
Posts: 12257
Joined: Tue Jan 31, 2012 11:05 am

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

Post by sorCrer »

kiwinoz wrote:
sewa wrote:
kiwinoz wrote:Just transferred LTC from US to my personal account. Instant. If I tried to move the equivalent in $ would take 1 to 2 days to show up in my account. Better still no third party ie a bank was needed or involved.
If you are the sort of person who can't budget well enough that you need this sort of urgent liquidity then maybe you aren't the financial expert we need
WTF? I was speaking of the speed of the transaction and no more. I had purchased some more LTC on an exchange and was moving it to an off exchange wallet.
The problem is that the critics on this thread by far and large have zero actual practical experience in using cryptocurrencies and are attacking the concept.
User avatar
kiwinoz
Posts: 6909
Joined: Tue Jan 31, 2012 11:05 am

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

Post by kiwinoz »

It is also separating blockchain from cryptos and understanding the difference. I am working with a couple of clients on using the blockchain within their supply chain and not one BTC is involved.
User avatar
sorCrer
Posts: 12257
Joined: Tue Jan 31, 2012 11:05 am

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

Post by sorCrer »

kiwinoz wrote:It is also separating blockchain from cryptos and understanding the difference. I am working with a couple of clients on using the blockchain within their supply chain and not one BTC is involved.
Yes look mate I sincerely hope it's niche or else:
derriz wrote:Outside of some tiny tiny niches, you'd be mad to consider building any application on blockchain.
derriz
Posts: 585
Joined: Tue Jan 31, 2012 11:05 am

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

Post by derriz »

kiwinoz wrote:Just transferred LTC from US to my personal account. Instant. If I tried to move the equivalent in $ would take 1 to 2 days to show up in my account. Better still no third party ie a bank was needed or involved.
Amazing. I'm abroad and I just went to an ATM machine and transferred cash from my home bank acount into my wallet. Took about 20 seconds. Better still, there are real banks involved so if I get ripped off or my card get's stolen I don't lose out.
User avatar
sorCrer
Posts: 12257
Joined: Tue Jan 31, 2012 11:05 am

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

Post by sorCrer »

derriz wrote:
kiwinoz wrote:Just transferred LTC from US to my personal account. Instant. If I tried to move the equivalent in $ would take 1 to 2 days to show up in my account. Better still no third party ie a bank was needed or involved.
Amazing. I'm abroad and I just went to an ATM machine and transferred cash from my home bank acount into my wallet. Took about 20 seconds. Better still, there are real banks involved so if I get ripped off or my card get's stolen I don't lose out.
Nice so you drew cash? And if I had to send you cash right now from South Africa? What approach would you recommend for that?
derriz
Posts: 585
Joined: Tue Jan 31, 2012 11:05 am

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

Post by derriz »

sorCrer wrote:
derriz wrote:
kiwinoz wrote:Just transferred LTC from US to my personal account. Instant. If I tried to move the equivalent in $ would take 1 to 2 days to show up in my account. Better still no third party ie a bank was needed or involved.
Amazing. I'm abroad and I just went to an ATM machine and transferred cash from my home bank acount into my wallet. Took about 20 seconds. Better still, there are real banks involved so if I get ripped off or my card get's stolen I don't lose out.
Nice so you drew cash? And if I had to send you cash right now from South Africa? What approach would you recommend for that?
Not bitcoin.
derriz
Posts: 585
Joined: Tue Jan 31, 2012 11:05 am

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

Post by derriz »

sorCrer wrote:
kiwinoz wrote:It is also separating blockchain from cryptos and understanding the difference. I am working with a couple of clients on using the blockchain within their supply chain and not one BTC is involved.
Yes look mate I sincerely hope it's niche or else:
derriz wrote:Outside of some tiny tiny niches, you'd be mad to consider building any application on blockchain.
Have you actually tried building a blockchain/smart contract based application? Come back to me when you have. Or I can save you the trouble - it's a load of bollox. And it's not just my experience - in the last 4 years billions have been spent on trying to build blockchain based aplications with nothing except a bunch of whitepapers and hype. Most projects have been cancelled - the ASX settlement system is about the only one I've heard of that hasn't been parked or killed after the proof-of-concept stage.
bimboman
Posts: 65820
Joined: Tue Jan 31, 2012 11:05 am

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

Post by bimboman »

Rumham
Posts: 7353
Joined: Tue Jan 31, 2012 3:07 pm

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

Post by Rumham »

sorCrer wrote:
derriz wrote:
kiwinoz wrote:Just transferred LTC from US to my personal account. Instant. If I tried to move the equivalent in $ would take 1 to 2 days to show up in my account. Better still no third party ie a bank was needed or involved.
Amazing. I'm abroad and I just went to an ATM machine and transferred cash from my home bank acount into my wallet. Took about 20 seconds. Better still, there are real banks involved so if I get ripped off or my card get's stolen I don't lose out.
Nice so you drew cash? And if I had to send you cash right now from South Africa? What approach would you recommend for that?
SA is a 3rd world country. This seems to be the root of most of your issues.
Post Reply