Bitcoin (cryptocurrency)

Taxi said:
Worth over three bags of sand at the moment.
If thats the case and I want to buy something what will I get my change in...serious question.

I understand the logistics and it's always a good idea to be the grey man.
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Its a virtual coin so you dont get change, 1 bitcoin is worth over $4000 at moment, so you usually deal with smaller denominations, 0.006btc etc

You can use a plastic or virtual card to buy goods, I use cryptopay and you can get gb pound visa btc cards there and you can bank the bitcoin anytime you want converting it to GBP. I sometimes skim some interest made on the btc back into bank account, pays for a night out...

Its dropped a lot last few weeks, so its a good time to buy as usually it bounces back a lot stronger, reason its dropped is to do with a supposed law in china coming, which looks like it was just made up to caise hysteria, and it actually effects eruthem coin more than BTC even if it does
 
Bitcoin has become a bit more stable over the years, even if it drops in value it will bounce back - Look at the charts. But you are right, One has to watch out for "scam coins"; you do have a lot of them out there.
And also, because bitcoin is not regulated, you have lots of "whales" out there who can easily manipulate the market and rob you of our bitcoin. My advice is be patient think long term. I believe bitcoin is still in its infancy.

Who knows, 10k by next summer, 25k by 2021, and 100k 2030 ...I wish ...
 
We tried to buy some a couple of years ago ,from what I remember it was really hard to sign up !
 
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dublinblue12 said:
Its a virtual coin so you dont get change, 1 bitcoin is worth over $4000 at moment, so you usually deal with smaller denominations, 0.006btc etc

You can use a plastic or virtual card to buy goods, I use cryptopay and you can get gb pound visa btc cards there and you can bank the bitcoin anytime you want converting it to GBP. I sometimes skim some interest made on the btc back into bank account, pays for a night out...

Its dropped a lot last few weeks, so its a good time to buy as usually it bounces back a lot stronger, reason its dropped is to do with a supposed law in china coming, which looks like it was just made up to caise hysteria, and it actually effects eruthem coin more than BTC even if it does
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I still dont underertand mate.Just struggling with the mechanics of the bitcoin division.
Lets say I top up equipment from spytecinc.com whilst masquerading as a football fan in mainland Europe for champs leaugue and it all comes to half a bitcoin @ £1700.If they don't give me change do they at least credit half a bitcoin back to my account or is it actually me at point of pay that sets the payment to 0.5 B.C leaving the remaining 0.5 B.C in still in account ? In essence can I set the decimals to apportion the correct payment amount ? Serious question.

Not too sure on the good time to buy when somethings tanking advice though.
Every one out there using cfd or spreadbetting knows that's catching falling knifes or bottom picking.
I am intriqued with bitcoin though as it appears to be a legitimate way to deal currency through the web keeping your bank details safe from hacking.And we all know how many times our so called data gets misapropriated eh.
Only recently a Moon Man ran a thread on here about email addies getting harvested.
I remain safe at all times being the grey man.
Give information sparingly keep your friends close and your enemas closer.
I dont even drive Taxis but it's a great cover in this mist laden murkey den of inequity we all habitate called the Twilight World
 
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Bluemanc100 said:
My boys are building a pc each and they have waited ages for processors.. apparently there are people "mining data" and it's something to do with Bitcoin.... they have been told a month minimum as there are people buying up processors to run PCs on an industrial scale for this?? All over my head sadly
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There was a TV program on recently, Secrets of silicon valley (BBC 2) episode 1, that will give a good understanding of what and why "Mining data" is being used for and its purpose.

I found it eye opening just what "They"* can perceive about your views with a very high % of accuracy, so as an example a political party could tailor its campaign message so as to appear to agreed with most of your view on things to the point they can influence election results.
 
How can Bitcoin be taken seriously as an online purchasing tool when it's value fluctuates so erratically.
How can you buy into it for everyday purchases as a "currency of the web" it's original design when it's so volatile.

Have a look at the graph below and hit the 1 month chart to see it peak at just under 5,000 dollars.
Now it has broken through the previous low of $4054 on 21st August.
From a chartist persective is this an indicator to actually short it.

Taking the trading aspect away is the bitcoin actually fit for purpose ?

https://www.coindesk.com/price/
 
any of our more knowledgeable crypto guys have any thoughts over other coins or will BTC be the vhs to the betamax. from my searches there etherium and ripple. but because i know jackshit, would i be better to gamble on the other 2 or follow the crowd
 
If anyone would like a freshly made bidcoin, please send me one thousand pounds in cash.

I shall deliver the bidcoin the very next day in a small presentation pouch.
 
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