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Author Topic: Official cryptocurrency thread (Bitcoin, Ethereum, Altcoin)  (Read 256614 times)
StuartHopkin
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« Reply #885 on: February 05, 2018, 09:36:26 AM »



Lloyds Bank bans Bitcoin purchases via Credit Card.


http://www.bbc.co.uk/news/business-42940728

You know why Lloyds are doing this Tikay. I heard that they are scared of people buying scam coins and putting in section 75 claims, which are designed to protect the consumer. Several US banks have taken similar measures.

Pretty sure the actual reason they are doing this is because they are scared that BitCoin will take over the world and they will become surplus to requirements in the New World?

 Grin
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« Reply #886 on: February 05, 2018, 09:42:37 AM »



Lloyds Bank bans Bitcoin purchases via Credit Card.


http://www.bbc.co.uk/news/business-42940728

You know why Lloyds are doing this Tikay. I heard that they are scared of people buying scam coins and putting in section 75 claims, which are designed to protect the consumer. Several US banks have taken similar measures.

Pretty sure the actual reason they are doing this is because they are scared that BitCoin will take over the world and they will become surplus to requirements in the New World?

 Grin

10 years ago they wouldn't give a hoot about this sort of behaviour, now everything they do with regards to bad debts is scrutinised. So it's a bit of wishful thinking suggesting BTC is that powerful it is going to consume everything we do.

It's just another regulatory noose around the neck of crypto currencies.
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tikay
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« Reply #887 on: February 05, 2018, 10:10:45 AM »



Lloyds Bank bans Bitcoin purchases via Credit Card.


http://www.bbc.co.uk/news/business-42940728

You know why Lloyds are doing this Tikay. I heard that they are scared of people buying scam coins and putting in section 75 claims, which are designed to protect the consumer. Several US banks have taken similar measures.

Well I just assume - financial legislation being what it is these days - that they are scared of being on the hook if it goes tits up or if folks knock it in. Banks are considered fair game to be sued for anything these days. If I were Lloyds Bank I'd do the same. 
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lucky_scrote
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« Reply #888 on: February 05, 2018, 11:42:05 AM »

Looking from the outside in, stopping people from investing with debt in things that they likely don't anything know about is of course a good idea.

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« Reply #889 on: February 05, 2018, 01:06:09 PM »

Some guy on reddit reckons they'll be worth a million each in a few years so I just remortgaged and put it all in bitcoin.

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« Reply #890 on: February 05, 2018, 01:17:00 PM »

Some guy on reddit reckons they'll be worth a million each in a few years so I just remortgaged and put it all in bitcoin.



Ahh yes reddit, the place where the blind lead the blind.......

Great video here from a chartist about Bitcoin. Very interesting.

https://www.youtube.com/watch?v=uFbC8KP1ETc&t=1s
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« Reply #891 on: February 05, 2018, 02:57:58 PM »

Somebody correct me if I am wrong but apparently the maximum amount of bitcoin that can be mined is 21 million and this will take until 2040 - if this is correct then BitCoin is precisely that, a bit.
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« Reply #892 on: February 05, 2018, 03:38:14 PM »



Love recycling. Nearly time to get this out again

Will today be the day? Certainly looks to be heading that way........

How anybody dares put any money in this at any price I have no idea. You might as well be playing roulette.

To be fair I love roulette Smiley
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« Reply #893 on: February 05, 2018, 03:51:03 PM »


At these levels the early bird is still up 630% YOY
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lucky_scrote
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« Reply #894 on: February 05, 2018, 03:55:11 PM »

It will never hit exactly 21 million unless something bad happens, but the block subsidy is set to deplete at block 6,930,000 which is estimated to occur sometime around the year 2140.

However, the vast majority of coins (99%) will have been mined by around 2032, when the block subsidy drops to less than 1 BTC per block. Roughly 20.67 million coins will exist, leaving less than 1/2 a million to be mined over the next 100 years.


Here is a good video for the ones that feel this has all been moving quite fast. It must feel like when you were at school and missed a few lessons and have no idea what people are talking about sometimes:




It touches on the point about why cryptocurrencies = blockchain and why they have to have value. I think it's critical to understand why blockchain = cryptocurrencies and why they must have value otherwise people just think they are purely a money grab (see quote below). I am under no illusion that people are out there to make money unfairly, but just like the fact people do actually buy bitcoin and use it for legitimate and legal reasons, currencies are doing way more good than bad. We are going to see time and time again horror stories and scary shit. It always happens with anything new and I am surprised people don't become desensitised to this sort of stuff by now.


Like it or not regulation will dictate the path of cryptocurrencies, it will also bring them down to more reasonable valuations and we can then focus on what uses the underlying technology can play in our lives.

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tikay
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« Reply #895 on: February 05, 2018, 04:00:53 PM »


At these levels the early bird is still up 630% YOY

Agree, though Team December Bandwagon, when the buying rage (it seemed to me) to be at a peak can't be thrilled right now.
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« Reply #896 on: February 05, 2018, 04:17:08 PM »



Love recycling. Nearly time to get this out again

Will today be the day? Certainly looks to be heading that way........

How anybody dares put any money in this at any price I have no idea. You might as well be playing roulette.

To be fair I love roulette Smiley


i bought back some BTC today, but i am freerolling as i cashed out some at 19.5k. I've reinvested that btc into some of my fav alts
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« Reply #897 on: February 05, 2018, 04:37:55 PM »


At these levels the early bird is still up 630% YOY

Agree, though Team December Bandwagon, when the buying rage (it seemed to me) to be at a peak can't be thrilled right now.

Team December who are still sat are licking deep wounds, which is not nice for them unfortunately but don't lets forget not everybody has lost money on crypto

Theres some healthy gains been had by punters as well

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« Reply #898 on: February 05, 2018, 05:01:54 PM »


At these levels the early bird is still up 630% YOY

Agree, though Team December Bandwagon, when the buying rage (it seemed to me) to be at a peak can't be thrilled right now.

Team December who are still sat are licking deep wounds, which is not nice for them unfortunately but don't lets forget not everybody has lost money on crypto

Theres some healthy gains been had by punters as well


I think this is the only point I've ever felt worth making. Even fairly early adopters are going to get burned because so many people have a psych issue with selling for less than it was once worth and so sit like transfixed rabbits as their notional gains melt away. Well hear more generally from aftertimers who sold at the current known highs and less from those who didn't lock in profits.

Traders are a whole other thing and there are many fewer successful traders than nutso 'investors'
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EvilPie
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« Reply #899 on: February 05, 2018, 05:07:54 PM »


At these levels the early bird is still up 630% YOY

Agree, though Team December Bandwagon, when the buying rage (it seemed to me) to be at a peak can't be thrilled right now.

Team December who are still sat are licking deep wounds, which is not nice for them unfortunately but don't lets forget not everybody has lost money on crypto

Theres some healthy gains been had by punters as well


I think this is the only point I've ever felt worth making. Even fairly early adopters are going to get burned because so many people have a psych issue with selling for less than it was once worth and so sit like transfixed rabbits as their notional gains melt away. Well hear more generally from aftertimers who sold at the current known highs and less from those who didn't lock in profits.

Traders are a whole other thing and there are many fewer successful traders than nutso 'investors'

I wonder how many people who said "I'll sell when it hits $20k" are really, really upset with themselves.....?
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