Bitcoins

AnotherJoe

Type_45 wrote: »

Why assume it's a scam? Most people are nice.

Because most (all?) nice people dont cold call you. Scammers do.

AnotherJoe

Just been reading that the fall in BC price vs cost of electricity is now meaning that it's become uneconomical to mine for new units. What that means for the price of existing ones who knows, it could go either way eg scarcity might mean they rise or at least stabilise , or with no future for BC mining, could fall even further, exacerbating the fall.

EachPenny

AnotherJoe wrote: »

Just been reading that the fall in BC price vs cost of electricity is now meaning that it's become uneconomical to mine for new units. What that means for the price of existing ones who knows, it could go either way eg scarcity might mean they rise or at least stabilise , or with no future for BC mining, could fall even further, exacerbating the fall.

That's only relevant to people who are actually paying for their electricity.... the ones stealing it will not be affected in the same way.

(potentially enhancing the shady reputation of virtual currency)

https://www.bbc.co.uk/news/world-europe-43003740
https://www.abc.net.au/news/2018-03-08/bureau-of-meteorology-staff-implicated-in-cryptocurrency-ring/9524208
https://oig.federalreserve.gov/releases/news-berthaume-sentencing-jan2017.htm
https://www.independent.co.uk/life-style/gadgets-and-tech/news/bitcoin-mining-china-prison-train-electricity-cryptocurrency-energy-environment-a8577791.html

AnotherJoe

Good point !

markj113

AnotherJoe wrote: »

Just been reading that the fall in BC price vs cost of electricity is now meaning that it's become uneconomical to mine for new units. What that means for the price of existing ones who knows, it could go either way eg scarcity might mean they rise or at least stabilise , or with no future for BC mining, could fall even further, exacerbating the fall.

As unprofitable miners drop off the network the difficulty level will adjust to compensate making coins easier to mine.


There is no floor price based on electricity costs.

seacaitch

grund1g wrote: »

I will shortly have some money to invest and a friend mentioned...

...

I don't have any experience with stocks and shares at all...

******* Red Alert *******

Having money to invest but no prior experience makes you at great risk of making an expensive mistake that you come to regret, often swiftly.

You need to take your time to get educated: decide what you're seeking to achieve; form a sensible plan with realistic goals and timescales; monitor and review.

If you act in haste you will repent at leisure, guaranteed.

**********************

Snow_Dog

Google the following "tulipmania chart", and "bitcoin chart", overlay them.


Draw your own conclusions.


Good luck with finding a good place to invest your money lots of good advice on these forums (and a small dose of bad sometimes, but the trolls usually give up and disappear).

dealer_wins

At least with tulip bulbs you would have beautiful tulips to look at next spring

Snow_Dog

seacaitch wrote: »

******* Red Alert *******

Having money to invest but no prior experience makes you at great risk of making an expensive mistake that you come to regret, often swiftly.

You need to take your time to get educated: decide what you're seeking to achieve; form a sensible plan with realistic goals and timescales; monitor and review.

If you act in haste you will repent at leisure, guaranteed.

**********************

Totally second the above :T

badger09

dealer_wins wrote: »

At least with tulip bulbs you would have beautiful tulips to look at next spring

Only if you received the tulip bulbs;).

AFAIK most had invested:cool: in futures contracts, so no tulips. Not even a photo or online image.