Bitcoins

BoracicLint

Cornucopia wrote: »

What happens when someone holds on to BCs? Why should they benefit from an increase in value relative to real World assets? Where does the wealth come from?

The increase in value is driven by demand. If I hold an ounce of gold why do I expect that to increase in value? Because people want it and are willing to pay for it.

It's the same as any commodity

Satoshi

The chart right now along with this very forum remind me of 2011 when the silver chart was looking the same as bitcoin chart now, and the silver bullion for investment threads were the top of all forums like this one. Soon after silver crashed and talking about silver was banned on this forum.

Why has bitcoin discussion not been banned yet on this forum when silver is still banned?

BoracicLint

Satoshi wrote: »

The chart right now along with this very forum remind me of 2011 when the silver chart was looking the same as bitcoin chart now, and the silver bullion for investment threads were the top of all forums like this one. Soon after silver crashed and talking about silver was banned on this forum.

Why has bitcoin discussion not been banned yet on this forum when silver is still banned?

Maybe Martin Lewis has a fair few bitcoins stashed away?

Satoshi

BoracicLint wrote: »

The USA are a small fish when you consider the global potential of bitcoin. If USA regulate the currency, that will only hinder those in their jurisdiction from trading.

As a matter of fact, the massive amounts of bitcoin that the US seized from Silk Road actually make it in their interest to support bitcoin!

For bitcoin to fail, every single one of the million computers that store the 'block chain' (the bitcoin ledger) would have to fail, which you're talking about an entire internet black-out. If that happens, you can pretty much say goodbye to your way of life altogether, regardless of what currency you choose to use.

America does control the internet at the moment, they could as a last resort turn it off or at least make it unreliable.

But China are starting to make their own internet not controlled by the USA. But for China to implement it throught the world will not be easy.

Anyway coming up on $700!!!!!!!!!!!!!!!!!!!!

there still will be trading opportunities in this one, just getting use to how it moves on the charts, I think it goes to at least 1000 before it gets top heavy, think appl in its hayday. http://bitcoincharts.com/charts/mtgo...Stochzi3gATRzv any other ex traders out there, chartist.

DiggerUK

BoracicLint wrote: »

Maybe Martin Lewis has a fair few bitcoins stashed away?

That's it.......Martin Lewis, you are the real Satoshi Nakamoto, and I claim my free Bitcoin.
..._

Satoshi

Tweaker wrote: »

I suspect because discussions probably attracted spammers promoting companies that trade silver and commodity brokers using memes to hype them.

No I remember it was just the same as this thread most ramping bitcoins and a few against. But no one was offering silver for sale, but the chart is looking just like silver in 2011 before it crashed.

Habbakuk

I hold some bitcoins which is purchased using bittylicious. The are held in my blockchain.info digital wallet. If I want to sell them as opposed to spending them, what's the best was for me to do this? Thanks.

BoracicLint

Habbakuk wrote: »

I hold some bitcoins which is purchased using bittylicious. The are held in my blockchain.info digital wallet. If I want to sell them as opposed to spending them, what's the best was for me to do this? Thanks.

I would create a wallet with mtgox.com. It's a well established exchange and one of only a few I would trust. Send your bitcoins to the newly created mtgox wallet and then sell them for GBP. You will be able to withdraw via bank transfer.

Note, you will need to get verified first, which means scanning photo ID and proof of residence.

BoracicLint

Satoshi wrote: »

No I remember it was just the same as this thread most ramping bitcoins and a few against. But no one was offering silver for sale, but the chart is looking just like silver in 2011 before it crashed.

Maybe MSE are keeping an eye on it, at the moment there is no consensus on whether it is a currency, security or commodity. I like to think that MSE are taking a diplomatic view on Bitcoin before they decide to condemn it's discussion.

Satoshi

BoracicLint wrote: »

Maybe MSE are keeping an eye on it, at the moment there is no consensus on whether it is a currency, security or commodity. I like to think that MSE are taking a diplomatic view on Bitcoin before they decide to condemn it's discussion.

What difference does it make if silver was viewed as a commodity or money, we still do not know why it was banned?