Bitcoins
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Several pounds a day to spend on what, Bobster? It's not worth a penny unless you can spend it, and unless you're trying to buy illegal drugs online, I don't think you'll have much luck.
It's an utter scam designed to separate idiots from their money.0 -
Each to their own I suppose. Its the way money is going in the future, fully decentralised instant transmission worldwide. Iam not saying the future will be Bitcoin but it will look something very similar.
And as its not run or controlled by anyone, I dont see how it can be designed to part anyone from their money. There is noone to benefit!0 -
BobbyBaggins wrote: »Each to their own I suppose. Its the way money is going in the future, fully decentralised instant transmission worldwide. Iam not saying the future will be Bitcoin but it will look something very similar.
And as its not run or controlled by anyone, I dont see how it can be designed to part anyone from their money. There is noone to benefit!
That's exactly where the risk lies, a massive one at that in my view. We are all slaves to a gang of crooks who are set to lose out massively, actually they're set to lose everything, if this really does start to gain serious worldwide traction, and it's certainly looking that way.
“First they ignore you, then they laugh at you, then they fight you, then you win.”
Governments hold the power to outlaw and start trying to kill off bitcoin, to shatter illusions and reveal themselves as the crooks they are laid bare, to steal what isn't theirs to take in order to restore their privileges in a rigged market monopoly and protect the banking system that feeds them at everyone else's expense.
It's a battle to come imho, I just don't see how it can be avoided.
Free market money controlled by everyone and no one versus centrally controlled and manipulated wealth transfer tokens designed to enrich those in control at the expense of those forced to use them.
(I do some low volume bitcoin mining)'We don't need to be smarter than the rest; we need to be more disciplined than the rest.' - WB0 -
bit coin is also controller by everyone and no one versus centrally and manipulated with transfer token designed to enrich those in control in designer.0
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Bitcoin virtual currency reaches all-time high price
The value of virtual currency Bitcoin has reached an all-time high, trading at more than $33 (£22).
http://www.bbc.co.uk/news/technology-21601608Mortgage free I: 8th December 2009!
Mortgage free II: New Year's Eve 2013!
Mortgage free III: Est. Dec 2021...0 -
This subject seems far worse then silver coins re savings.
At least you have something physical there, I suggest any interest in this should be lottery type money only
The price can double but I see little productive value. Interesting but dangerous, I'd be glad to see it take off but I dont see why it should0 -
I don't think it'll be allowed to take off in a big way, at the risk of repeating myself the powers that be will try everything they have to shut it down at some point. Some say the genie is out of the bottle and it can't be stopped but I'm not totally convinced about that.
Just out of interest why do you think it's any worse than pieces of almost worthless paper backed by nothing with fancy pictures of dead people on? The only material difference, in the electronic age, is the number of people who trust it and buy into the illusion.
It's simply a means of exchange, nothing more, nothing less, and one that isn't centrally controlled and manipulated for profit by those producing it.'We don't need to be smarter than the rest; we need to be more disciplined than the rest.' - WB0 -
Just out of interest why do you think it's any worse than pieces of almost worthless paper backed by nothing with fancy pictures of dead people on?
That would be the point. That cash has become worthless makes these ideas feasible. I just think we can and will do alot better and the paper promises are still needed to pay taxes.
Bitcoins are a requirement for nothing, I think some drug sites take them but even then there are alternatives?powers that be will try everything they have to shut it down at some point
If that was the obstacle I think Bitcoins will succeed but if this system is as broke as I think, it'll destroy itself. Nobody will have to intervene, the users of the coins good and bad should make it unusable and unreliable to an extreme that paper is preferable somehow.
It is interesting to see but I wouldnt want to rely on it much. At best it should replace paypal, I would be impressed by that0 -
Very interesting. I bet the OP wishes he had invested in 2011. I see the "value" has risen to $45! Ad networks that pay Bitcoin
The Bitcoin site seems quite honest about the prospects for Bitcoin: if it falls out of fashion it will be worthless, if it gains wide acceptance it could be worth a fortune. And I see one pundit reckons the value could rise to $100,000 or more.
I expect Bitcoin Mania (cf Tulip Mania) to set in at some point. The smart will make a lot of money, the taxidrivers (always the last to be sucked in) will lose out.
This looks like one for gamblers: sell when the taxidrivers start talking about it?0 -
...And I see one pundit reckons the value could rise to $100,000 or more.
Bitcoin isn't a physical thing it's a global electronic monetary exchange system, it just needs enough people to believe it works, which is happening, and it will work. In exactly the same way people believe small paper rectangles with fancy pictures of dead people on them are somehow worth something, it's simply a question of trust.
The bitcoin currency will be attacked, it already has been and just bounced back stronger. The risk isn't bitcoin itself, it's that governments see the threat and declare it illegal in order to start confiscating and driving it underground, to preserve their banking cartel paymasters monopoly, look how well that works with the idiotic and monumentally wasteful and destructive war on some drugs, the crooks in charge don't have enough processing power or money of their own to stop it any other way.
The monetary worth of anything, measured in legal tender is only limited by how much devaluation of legal tender the central banking cartel and their government stooges are willing to inflict on everyone to try and clear their debts. It'll be interesting to see how it all pans out. Personally I have a suspicion we are seeing the early stages of currency collapse, all fail eventually.
"There is one thing stronger than all the armies in the world, and that is an idea whose time has come. ~Victor Hugo"'We don't need to be smarter than the rest; we need to be more disciplined than the rest.' - WB0
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