Sterling to get abused even more?

andy.m_2

As a bit of fun though, and another arm to your portfolio it can be used short term for gain.

Izzy if people hold their BTCs offline how can they get Cyprused? Or are you saying that those who hold online wallets att he exchanges are most at risk of such a technique?

michaels

How liquid are bitcons? Wouldn't it take much less cash than Mr Copper or the London Whale to manipluate the market...

dryhat

Bitcoin up £17 each overnight.

Now trading at £124

https://mtgox.com/

dryhat

andy - have a look at this latest max keiser

http://rt.com/shows/keiser-report/episode-428-388/

Max and Stacey discuss bitcoin at length and how its price realates to gold and silver and the reasons for the sudden rise in value.

Max has been 100% correct on his calls about bitcoin, so well worth listening to.

IzzyFreedman

andy.m wrote: »

As a bit of fun though, and another arm to your portfolio it can be used short term for gain.

Izzy if people hold their BTCs offline how can they get Cyprused? Or are you saying that those who hold online wallets att he exchanges are most at risk of such a technique?

There is no way to keep bitcoins offline. It is purely an online currency. You can not use them offline, even those actual coins with bits of paper inside, they are worthless without going online.

Anything online can be messed with, and who do you go crying to if you find out that your account is not as it should be? Bitcoin has no regulators, there is nobody you can go to for help.

Bullion held privately off the market can not be messed with, and it is more private than bitcoin.

IzzyFreedman

dryhat wrote: »

andy - have a look at this latest max keiser

http://rt.com/shows/keiser-report/episode-428-388/

Max and Stacey discuss bitcoin at length and how its price realates to gold and silver and the reasons for the sudden rise in value.

Max has been 100% correct on his calls about bitcoin, so well worth listening to.

I dont see how bitcoin can keep going up at this rate for the long term, but I can see it with gold and silver as the repudiation of unbacked currencies becomes more widespread.

Japan is putting pressure on other unbacked currencies to expand and abuse the supplies to catch up with Japan's extreme currency abuse.

dryhat

IzzyFreedman wrote: »

I dont see how bitcoin can keep going up at this rate for the long term.............

No, nor me.

....... up another £7 each

now trading at £131

5 "things" that only exist as bits of computer code, that cost me nothing a few weeks ago are now worth over £600

It's brilliant and crazy at the same time.


Just glad I'm along for the ride.

IzzyFreedman

The Bank of England is allowed to print say 50billion units of currency on a regular basis, but if you or I were to go into where they print these currency notes after the staff have gone home and turned off the lights. If you could use their printing presses and print those notes that they were just printing but these identical notes would be counterfeit when the identical notes these same printers were just printing before were considered real currency notes? This is why I like new unbacked currencies like World of warcraft currency or Bitcoin because people ask questions like can you buy it with real money? Or can you buy real money with it? Then if they are a thinking person they start to ask questions like well what is real money? Hang on the only difference between World of Warcraft currency units or Bitcoin or US Dollars or Pounds or Euro's or Yen or any unbacked currency is - confidence. Its a con game. Its been a con game ever since 1971 when this "temporary new international monetary system" (Nixons exact words) was brought in. He said it would be temporary and here we are over 40yrs later this con game is nearing its end.

Mr._Pricklepants

IzzyFreedman wrote: »

This is why I like new unbacked currencies like World of warcraft currency.../snip/...He said it would be temporary and here we are over 40yrs later this con game is nearing its end.

I'm still gonna want GBP's if you want to buy anything from me, buddy. I sadly don't accept game credits you gathered through numerous quests throughout the Kingdom of Kalimdor and Pandaria.

dryhat

Mr._Pricklepants wrote: »

I'm still gonna want GBP's if you want to buy anything from me, buddy. I sadly don't accept game credits you gathered through numerous quests throughout the Kingdom of Kalimdor and Pandaria.

Correct Mr. P.

Not like bitcoin which you can actually use to buy stuff.

Since you are a fan of speculative bubbles, buying frenzies and unearned riches, I would expect you to be along for the ride as well.

You haven't missed the boat you know.