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Bitcoin

I hope so. With the limited 'printing' available, I stand to make a good bit if it takes off.
 
Are you talking like investment wise, if so I don't know. I use to use them for certain services online where it was useful to have an anonymous currency, never had any problems with them.
 
scaramanga said:
I hope so. With the limited 'printing' available, I stand to make a good bit if it takes off.
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Article in the Times today about it.

As a side note, it said two developers spent 10,000 BTC when they were almost worthless on pizza. Would be around £5m now!

I'd like to get involved, but almost don't know where to start... Where to buy from, the wallet, security etc... Read so many scare stories.
 
galeforce said:
a currency with no oversight, that has fluctuated wildly since inception, not for me thanks
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The oversight is pretty strong as I understand it.

Whilst there is the possibility to insert corrupt data it would just be overwhelmed by all the correct data very quickly. The fact that the "reprint" rate is limited within its own algorithm is quite appealing to me.
 
I don't get it. It's just a means of currency with limited users. How is it different to Bartercard? All sounds good in theory.
 
A friend of mine was going to buy some of this a few years back when it was just taking off, but the forms to fill in were quite extensive, so she lost interest. She only wanted a few pounds worth, which today would be worth £6,000 apparently
 
But unless it's the dominant currency, it's value is always going to be influenced by the underlying currency. As the people or businesses who will accept bitcoind for payment are limited, and many will convert to cash straight away, the value of the bitcoin is going to be determined by the value of the currency it can be converted to.

It only has such a high value now for speculative reasons. The bubble will burst when people realise they have no worth.
 
the guy in Wales who lost £4m today!!
Threw his USB HD in the land fill - oh well, easy come.....
 
Superted said:
But unless it's the dominant currency, it's value is always going to be influenced by the underlying currency. As the people or businesses who will accept bitcoind for payment are limited, and many will convert to cash straight away, the value of the bitcoin is going to be determined by the value of the currency it can be converted to.

It only has such a high value now for speculative reasons. The bubble will burst when people realise they have no worth.
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Which underlying currency though? If people all over the world are accepting it then it would have to track whatever is currently the fastest growing right? (Maybe not but I really haven't spent much time thinking it through).
 
scaramanga said:
Which underlying currency though? If people all over the world are accepting it then it would have to track whatever is currently the fastest growing right? (Maybe not but I really haven't spent much time thinking it through).
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Globally, everything follows the dollar. It's the worlds reserve currency
 
I was offered as many bitcoins as i wanted for no more than a few quid each years back, after i remarked how impressed i was with the maths behind it to a staunch believer in it. He's a massive conspiracy theorist and most of what he says is paranoid nonsense but I rather regret not taking him up on the offer now! It's just such a huge gamble for an investment that no one can read though.
 
Wrote an article partially about bitcoins almost three years ago (Silk road and underground, illegal trading was the main topic), and remember how me and my editor talked about getting hold of some of this new currency to try it out. Had I known what an investment this would be, I would have gotten myself some bitcash. The joy of hindsight.

Now is probably the worst time ever to invest in bitcoins, I guess. Oh well.
 
It was down to around £430 ish at the weekend, back up to £533 now, but was at over £550 not an hour ago. it's mad.

If it comes back in below £500 I'm going to give it a shot. You never know...

I would have got some at the weekend but my wallet hadn't finished syncing... took 2.5 days to download!

This is a handy little site to keep track of current prices:

http://preev.com/btc/gbp

Going to look at some Litecoin tonight. Maybe it'll go the same way as Bitcoin! Fingers crossed...
 
you get these fads when the economy is on a downturn and people look for new get rich quick schemes, with the world economy improving, bitcoins wont got away but they'll become like gold, a sort of reserve currency
 
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