Bitcoin

consciousobservation

I think it's likely bitcoin is the betamax of crypto, it is basically the first iteration of the technology right? 

Retireby40

[Deleted User] said:

Guys I posted this on previous page to reanimate this discussion a bit and woke up some naysayers. Still, I found it funny how they call it "butcoin" when they run out of arguments.

Retireby40 said:

So you're a millionaire now based on all the bitcoin you have bought?

You only need 29 Bitcoins to be a millionaire. Bitcoin exists for like 11 years now. 29 Bitcoins that would cost you $12000 (total) five years ago. Even better, if would cost you $6800 six years ago. And so on. So I don't need to answer that question I think.
If you actively ignored it for all these years then this is the answer for another question - where is YOUR million.

So in other words you are not a millionaire, you never bought enough (if any at all) bitcoin to be one and you are sitting on a forum talking to strangers instead of sitting in Dubai sipping champagne and thinking about what fancy steak house you're going to eat in tomorrow?

HansOndabush

Well he is 'patient'

[Deleted User]

Retireby40 said:

So in other words you are not a millionaire, you never bought enough (if any at all) bitcoin to be one and you are sitting on a forum talking to strangers instead of sitting in Dubai sipping champagne and thinking about what fancy steak house you're going to eat in tomorrow?

Is this forum limited to poor only? Why would I not read and write on here if I find it entertaining, regardless of my wealth?

Are you another forum creep? I don't need to tell you anything. But I do know that with your attitude, that *you* are not one of those people who would bought Bitcoin and hold for years. Sorry that you are not a millionaire

Retireby40

[Deleted User] said:

Retireby40 said:

So in other words you are not a millionaire, you never bought enough (if any at all) bitcoin to be one and you are sitting on a forum talking to strangers instead of sitting in Dubai sipping champagne and thinking about what fancy steak house you're going to eat in tomorrow?

Is this forum limited to poor only? Why would I not read and write on here if I find it entertaining, regardless of my wealth?

Are you another forum creep? I don't need to tell you anything. But I do know that with your attitude, that *you* are not one of those people who would bought Bitcoin and hold for years. Sorry that you are not a millionaire

I didn't buy bitcoin. And I'm not a millionaire. But I didn't say that I was an expert and that I told everyone that bitcoin was going to reach the heights it did.

I'm most definately not a forum creep. Its just theres 0 credit to be given to someone who "called" something but never actually had the balls to back it up with their cold hard cash. 

Humour me how much cold hard £££ do you have in the bank thanks to bitcoin? Any nice motors?

virenque

How much is that bitcoin that ended up in the rubbish tip worth now??

eskbanker

virenque said:

How much is that bitcoin that ended up in the rubbish tip worth now??

Nothing, if it can't actually be accessed....

nyermen

Every time this pops up on the BBC with a Have Your Say attached, the comments seem to be 50% "Get your tulip bulbs here" and 50% "you don't understand, its the future, etc".

My frustration is not the value so to speak, its the change of it - its too volatile.  And I note that most people are either talking about it as an investment, or as a medium for goods and services, but not both.  Until its stable, I can't see it being an option for my shopping, my tax, etc, in which case its an investment.  Which as long as it goes up, great, people might make money.  But it always comes back to its value in dollars, which means at some point its being cashed/valued back to fiat.  And if it goes up, then as someone makes money, inevitably someone else will lose money.  

I don't know many people who've made their fortune playing the FX markets - I'll be staying out, but if theres a bit of wealth distribution as small early speculators sell out, then probably good for them.

HansOndabush

Bitcoin is surely doomed due to the obscene amount of energy it consumes to keep it running; more than used by Chile or the Czech republic for instance. And what do you get for all that waste of energy? Just some numbers.

RichTips

HansOndabush said:

Bitcoin is surely doomed due to the obscene amount of energy it consumes to keep it running; more than used by Chile or the Czech republic for instance. And what do you get for all that waste of energy? Just some numbers.

Just some numbers... the impact of cryptography is nothing more than the production of "just some numbers" is it? It's actually a little more nuanced than that but if behaving ignorant and acting facile is what floats your boat, carry on.