blonde poker forum
Welcome, Guest. Please login or register.
December 11, 2019, 04:33:11 AM

Login with username, password and session length
Search:     Advanced search
2241063 Posts in 66396 Topics by 16801 Members
Latest Member: pokergamer
* Home Help Arcade Search Calendar Guidelines Login Register
+  blonde poker forum
|-+  Community Forums
| |-+  The Lounge
| | |-+  Official cryptocurrency thread (Bitcoin, Ethereum, Altcoin)
0 Members and 1 Guest are viewing this topic. « previous next »
Pages: 1 ... 77 78 79 80 [81] 82 83 Go Down Print
Author Topic: Official cryptocurrency thread (Bitcoin, Ethereum, Altcoin)  (Read 148030 times)
tikay
Administrator
Hero Member
*****
Offline Offline

Posts: I am a geek!!



View Profile
« Reply #1200 on: December 20, 2018, 06:00:29 PM »


Proper rally in progress now. After flirting with $3,000 less than a week ago, it's north of $4,000 now.
Logged

All details of the 2016 Vegas Staking Adventure can be found via this link - http://bit.ly/1pdQZDY (copyright Anthony James Kendall, 2016).
Pokerpops
Sr. Member
****
Offline Offline

Posts: 948


View Profile
« Reply #1201 on: December 30, 2018, 11:52:13 AM »

Today’s Telegraph Business & Money section has a front page headline of “City Watchdog targets Bitcoin dealing”

Some scary stuff in there

67 firms investigated by the Financial Conduct Authority (FCA)
49 of those investigations are completed and four out of five triggered warnings to the public about the companies involved.

Chrstopher Woodard, executive director of strategy and competition at the FCA is quoted as saying
“We’re concerned that retail consumers are being sold complex, volatile and often leveraged derivatives products based on exchange tokens with underlying market integrity issues.”

The joint task force comprising the Treasury, the FCA and the Bank of England has warned that “the use of crypto assets for money laundering is growing”

Stay safe crypto traders.
Logged

"More than at any other time in history, mankind faces a crossroads. One path leads to despair and utter hopelessness. The other, to total extinction. Let us pray we have the wisdom to choose correctly."
tikay
Administrator
Hero Member
*****
Offline Offline

Posts: I am a geek!!



View Profile
« Reply #1202 on: April 07, 2019, 08:05:32 PM »

After being dormant for months, Bitcoin has had a wonderful April and has shot up 25%.

Any obvious reason? Tried googling "why", but it's just all the usual puff with no real substance or reason.
Logged

All details of the 2016 Vegas Staking Adventure can be found via this link - http://bit.ly/1pdQZDY (copyright Anthony James Kendall, 2016).
Jon MW
Hero Member
*****
Offline Offline

Posts: 5856



View Profile
« Reply #1203 on: April 07, 2019, 09:24:16 PM »

After being dormant for months, Bitcoin has had a wonderful April and has shot up 25%.

Any obvious reason? Tried googling "why", but it's just all the usual puff with no real substance or reason.

Article I saw said it was traced to a series of high value trades by a handful of traders - I don't know how reliable that is though because that's basically exactly what you'd guess in a market which can be manipulated without regulation to stop it.
Logged

Jon "the British cowboy" Woodfield

2011 blonde MTT League August Champion
2011 UK Team Championships: Black Belt Poker Team Captain  - - runners up - -
5 Star HORSE Classic - 2007 Razz Champion
2007 WSOP Razz - 13/341
lucky_scrote
Hero Member
*****
Offline Offline

Posts: 3531



View Profile
« Reply #1204 on: April 26, 2019, 06:49:33 PM »

Bitcoin still isn't dead yet? If this thread of conflicting information was anything to go by Bitcoin would have gone to zero now since all the taxi drivers have given out their advice. What gives?

Logged

<3 ENSUING
stato_1 said, "banoffee pie i reckon"
stato_1 said, "this is delicious"
Marky147
Hero Member
*****
Offline Offline

Posts: 19565



View Profile
« Reply #1205 on: April 26, 2019, 06:52:12 PM »

Liven it up, Dan!

Loved following this, even though I haven't a penny in, and don't have a clue Smiley
Logged
lucky_scrote
Hero Member
*****
Offline Offline

Posts: 3531



View Profile
« Reply #1206 on: May 13, 2019, 06:57:04 PM »

Ok fess up, who's buying? I thought all the cab drivers and eskimos had bought bitcoin now, so which suckers are BUYING?
Logged

<3 ENSUING
stato_1 said, "banoffee pie i reckon"
stato_1 said, "this is delicious"
tikay
Administrator
Hero Member
*****
Offline Offline

Posts: I am a geek!!



View Profile
« Reply #1207 on: May 13, 2019, 07:04:45 PM »

Ok fess up, who's buying? I thought all the cab drivers and eskimos had bought bitcoin now, so which suckers are BUYING?

No idea, $7,823 last time I looked.

Just in time for the WSOP.
Logged

All details of the 2016 Vegas Staking Adventure can be found via this link - http://bit.ly/1pdQZDY (copyright Anthony James Kendall, 2016).
DropTheHammer
Hero Member
*****
Offline Offline

Posts: 1041



View Profile
« Reply #1208 on: May 13, 2019, 10:46:23 PM »

Ok fess up, who's buying? I thought all the cab drivers and eskimos had bought bitcoin now, so which suckers are BUYING?

IMO it never got anywhere near as high as it should have as, although many knew about crypto, they CBA to buy it as it meant jumping through many hoops.

I still believe in the concept of crypto, even though I’ve lost money compared with what I’ve put in.
Logged
Jon MW
Hero Member
*****
Offline Offline

Posts: 5856



View Profile
« Reply #1209 on: May 14, 2019, 07:03:43 AM »

Ok fess up, who's buying? I thought all the cab drivers and eskimos had bought bitcoin now, so which suckers are BUYING?

IMO it never got anywhere near as high as it should have as, although many knew about crypto, they CBA to buy it as it meant jumping through many hoops.

I still believe in the concept of crypto, even though I’ve lost money compared with what I’ve put in.

"...IMO it never got anywhere near as high as it should have...", by what metric though?

I  have seen some good uses of blockchain being implemented but it's still a very niche technology in terms of actual practical use.

Only a handful of people can use it for cryptocurrency as it benefits them more than normal currency and only a handful of people have developed blockchain uses that work better than the alternatives - where is the reall world driver behind pushing the valuation higher? Or is it all still just speculating?
Logged

Jon "the British cowboy" Woodfield

2011 blonde MTT League August Champion
2011 UK Team Championships: Black Belt Poker Team Captain  - - runners up - -
5 Star HORSE Classic - 2007 Razz Champion
2007 WSOP Razz - 13/341
lucky_scrote
Hero Member
*****
Offline Offline

Posts: 3531



View Profile
« Reply #1210 on: May 14, 2019, 11:01:25 AM »

Blockchain technology alone is worthless. About as useful as useful as saying spreadsheet technology or something. Using blockchain tech with cryptography, proof of work on a peer to peer network is what Bitcoin is all about. Eventually a few other cryptocurrencies will find a niche but I struggle to see where the breakthrough in technology there is in any other cryptocurrencies. Not saying other cryptocurrencies are worthless (although many are) as they will be valuable somehow.

The best example of a valuable cryptocurrency are the tokens that exchanges have created made in order to use their platform. They are valuable but there is no breakthrough there, meaning that it might be completely unnecessary and something better will come along.

The four technologies of Bitcoin is what was needed to create a full-proof decentralised network. The intentions of creating some kind of internet money is something that has been tried many times in the past but failed ultimately because nobody could figure out how to decentralise it. It's was figured out over 10 years ago and that network is ticking along very nicely, with many nay-sayers (including many smart people) boldly claiming it is a scam of somesort, or that it is worthless. Well, I haven't seen an argument that has much merit against the network. There is a gigantic honeypot for the taking if anyone is able to compromise the network.
Logged

<3 ENSUING
stato_1 said, "banoffee pie i reckon"
stato_1 said, "this is delicious"
tikay
Administrator
Hero Member
*****
Offline Offline

Posts: I am a geek!!



View Profile
« Reply #1211 on: May 14, 2019, 11:03:29 AM »

Ok fess up, who's buying? I thought all the cab drivers and eskimos had bought bitcoin now, so which suckers are BUYING?

No idea, $7,823 last time I looked.

Just in time for the WSOP.

Over $8,000 this morning.
Logged

All details of the 2016 Vegas Staking Adventure can be found via this link - http://bit.ly/1pdQZDY (copyright Anthony James Kendall, 2016).
Chris_T
Newbie
*
Offline Offline

Posts: 11


View Profile
« Reply #1212 on: May 18, 2019, 06:40:57 PM »

Ok fess up, who's buying? I thought all the cab drivers and eskimos had bought bitcoin now, so which suckers are BUYING?

Look at the cycles since it started with regard to its ATH, the drop then the new one. Regardless of its general worth / use I expect it to exceed the previous ATH by 2020. There are harder ways to double your money
Logged
lucky_scrote
Hero Member
*****
Offline Offline

Posts: 3531



View Profile
« Reply #1213 on: May 27, 2019, 01:13:42 PM »

especially as EvilPie pointed out all the complete idiots have now been bitten, all that's left now are the purists, how is there going to buy any huge buying volume again?

Unless the secret billionaires club is manipulating again, there must be an influx of eskimos and taxi drivers (again).

No one I know has really bought it for any practical purpose other than pure speculation. That's a dangerous and unsustainable position if that's all its used for.

For practical reasons of course not. You live in good ol' blighty and in 2019 nobody is going to be using bitcoin here practically.

Is there any evidence elsewhere of blockchain being meaningfully useful to people?

Yes. https://www.reddit.com/r/Bitcoin/comments/bqhfzg/venezuela_update_1_btc_is_47000000_bs_last_week/

https://btcdirect.eu/en-gb/banking-the-unbanked

Bitcoin doesn't work as a 'currency' for many reasons... Its more likened to gold.

How can anything with a finite supply be expected to be a currency? A capped supply is a disincentive people from using it as a currency, and is also so contrary to how fiat currencies work. Imagine if every year your employer gave you a cost of living pay cut. Your debts get bigger in real terms every year even though the balance stayed the same.

Slight inflation is an incentive to spend 'money', which drives GDP growth.... Bitcoin does not do this.

People who are accepting Bitcoin for their goods / services SHOULD be doing it purely from a speculative point of view and making sure they're in a financial position to do so.... If this isn't the reason / they aren't in a financial position to speculate with the amounts of Bitcoin they're receiving then they need to educate themselves more. 

There is a fantastic book called the Bitcon standard. Despite the name, bitcoin is only discussed in the last two chapters. Bitcoin is currently mined at a faster rate than Gold, but by 2025 it will be overtaken as it gets closer to its hard cap. The purpose of money is to be sound and if it can be artificially inflated then it becomes quickly unsound. Why would we want to spend bitcoin if we live in a such a consumer hungry world that is promoted by the ever devaulaing scale of our unsound fiat currencies?

The thing most people on earth consider as money is the stuff that is issued by the banks. The concept of money has changed many times over the past thousands of years, with fiat currencies being a blip on that scale. Whenever money has proven itself to no longer be sound due to ease of artificial inflation, we have seen the same story. Almost every single money in history has suffered the same fate, it is foolish to think that fiat currencies will one day not cease to exist in their current form. They break rule number 1: Money has to be sound. The only form of money that has failed to break any of the rules is Gold. Unfortunately, it is not practical in this digital age and even FIAT currencies are a better form of money.

On one hand people say bitcoin is dead, yet at the same time say it cannot work as a currency because of the hard cap- price is expected to continue to rise if it is considered a safe storage of value. It is cognitive dissonance at its finest.

Logged

<3 ENSUING
stato_1 said, "banoffee pie i reckon"
stato_1 said, "this is delicious"
Jon MW
Hero Member
*****
Offline Offline

Posts: 5856



View Profile
« Reply #1214 on: May 27, 2019, 08:39:28 PM »


A reserve currency in the places with a poor banking infrastructure but an adequate internet infrastructure could be a mainstay of cryptocurrency - but it's still a niche.

Why would it be preferable over using the US dollar as hard currency in the vast majority of these places?

A record of how much cryptocurrency was being used for actual trade rather than as a speculative holding would be a great resource - does anyone keep a record like this?
Logged

Jon "the British cowboy" Woodfield

2011 blonde MTT League August Champion
2011 UK Team Championships: Black Belt Poker Team Captain  - - runners up - -
5 Star HORSE Classic - 2007 Razz Champion
2007 WSOP Razz - 13/341
Pages: 1 ... 77 78 79 80 [81] 82 83 Go Up Print 
« previous next »
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.21 | SMF © 2015, Simple Machines Valid XHTML 1.0! Valid CSS!
Page created in 0.246 seconds with 20 queries.