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I have been watching with interest over the last week at the continuing rise in Bitcoin and other leading digital currencies.
It was only a few days ago that it had crossed the 2000 usd mark, and today has seen continued rise and is currently sitting around the $2700 and basically double where it was on a few weeks ago.
Of course there is also a lot of interest in Ethereum, Litecoin and Ripple, the later I had never heard of until only a couple of days ago. I remember I had mined some Dogecoin back in 2014, and it has sat in a backed up wallet, back then it was worth 25 USD and now is apparently valued at 340 or something like that.
When you start digging around and looking at various financial analysts making statements of 10K USD by the end of the year, to 1M USD in the next 5 years once the currency stabilises, which have to wonder if this is all going to end in tears.
Hindsight is a wonderful thing, but when I think back to when I contemplated buying at 600usd, and then again at 1300usd...is it time to take a punt or not!
Anybody here been stashing and forgot about them? Or anyone else following what's going on?
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DaveAuld wrote:
Anybody here been stashing and forgot about them?
A bit ago, some websites advertised with getting BC if you visited them (something like 0.0000x BC). No idea where they went.
DaveAuld wrote: When you start digging around and looking at various financial analysts making statements of 10K USD by the end of the year, to 1M USD in the next 5 years once the currency stabilises, which have to wonder if this is all going to end in tears.
It will if you already spend that money before you have it.
..although the valuation might sound rediculous, 2400$ would have sounded equally rediculous a bit ago. The amount of BC does not grow much, while the demand for it has a lot room left to grow. If demand grows while production does not increase, prices will rise more. Given the fact that the alternatives are "fiat" (which is targetted to loose 2% of value each year), demand might grow rather quick in the times to come.
--edit
Bitcoin Explodes Above $2400 After China Downgrade, Scaling Agreement Reached | Zero Hedge[^]
The steady climb is what one would expect from a thing that holds its value, in an environment where the value of money goes down. GATA should pay attention 
Bastard Programmer from Hell 
If you can't read my code, try converting it here[^]
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DaveAuld wrote: .is it time to take a punt or not!
I just had a black coffee and it's Thursday.
If you're going to do it, stick to spare change.
Be wary of contemporary predictions, according to nearly every finance guru UK was supposed to wither away to nothing when it brexited - seems to be doing quite well in a positice direction. USA was supposed to become a smoking crater within days if Trump took office, also didn't happen.
The top financial/news reporters and acclaimed talk show hosts so pissed off about being wrong again and again even they are making increasingly ludicrous sh*t up to prove they are still worth watching/reading. (Even that overrated dickhead Michael Moore is going down that road - yeah he did predict the win but predicted disaster to immediately follow ... WRONG!) Colbert, Oliver et al: useless turds that should have been sent home years ago.
sorry to get soapbox-y, just a warning that more-so lately more than half of the "well informed news" (not just internet fake-news but the supposed real-source stuff too) has been very wrong.
Once more, tread carefully, make sure loosing wont matter.
Sin tack
the any key okay
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DaveAuld wrote: have to wonder if this is all going to end in tears
Of course it is! The trick is to make sure they're not your tears 
Now is it bad enough that you let somebody else kick your butts without you trying to do it to each other? Now if we're all talking about the same man, and I think we are... it appears he's got a rather growing collection of our bikes.
modified 31-Aug-21 21:01pm.
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I "have" a bitcoin from back when it was worth nothing, but I lost the wallet so that coin is lost in the void.
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DaveAuld wrote: is currently sitting around the $2700
[^]
Bastard Programmer from Hell 
If you can't read my code, try converting it here[^]
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When would you define something to be in a "bubble"?
It's not like you see BitCoins everywhere, with people dumping bonds and stocks to "get into" BitCoin.
Bastard Programmer from Hell
If you can't read my code, try converting it here[^]
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..because you deem the fair price to be around what?
Bastard Programmer from Hell
If you can't read my code, try converting it here[^]
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I don't care but it should be stable to be a real currency else what's the point. This is a vehicle for spruikers.
Peter Wasser
"The whole problem with the world is that fools and fanatics are always so certain of themselves, and wiser people so full of doubts." - Bertrand Russell
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pwasser wrote: I don't care but it should be stable to be a real currency else what's the point.
No, it doesn't. Even in fiat-currencies there are swings and speculators.
Few centuries ago, the Spanish flooded the silver and gold markets. That made the value go down wildly, but did not make it any less of a currency.
Most people would prefer to hold their "value" in a currency that has room to grow in value, when compared to a currency that is debased by choice.
Bastard Programmer from Hell
If you can't read my code, try converting it here[^]
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I've made my point. Let's see how Bitcoin shapes up.
Peter Wasser
"The whole problem with the world is that fools and fanatics are always so certain of themselves, and wiser people so full of doubts." - Bertrand Russell
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Now... dropping like a lead balloon!
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Yes.
«When I consider my brief span of life, swallowed up in an eternity before and after, the little space I fill, and even can see, engulfed in the infinite immensity of spaces of which I am ignorant, and which know me not, I am frightened, and am astonished at being here rather than there; for there is no reason why here rather than there, now rather than then.» Blaise Pascal
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I would cheer it on.
1 - Online Extortion relies heavily on this type of currency. They'd suddenly be broke.
2 - If they did extortion with real currency it could be traced and we could boil them in oil.
3 - If they cashed in their bitcoin, the appearance of real money would be traceable (and taxable).
So, when I hear that flushing sound I'll be quite pleased.
| Ravings en masse^ |
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| "The difference between genius and stupidity is that genius has its limits." - Albert Einstein | | "If you are searching for perfection in others, then you seek disappointment. If you are seek perfection in yourself, then you will find failure." - Balboos HaGadol Mar 2010 |
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W∴ Balboos wrote: 1 - Online Extortion relies heavily on this type of currency. They'd suddenly be broke.
Because ransomware did not exist before the introduction of the BitCoin?
W∴ Balboos wrote: 2 - If they did extortion with real currency it could be traced and we could boil them in oil.
No, thanks to banks a lot of electronic fiat cannot be traced. Which reminds me, I got a donation to your name in the value of a million dollar. You just need to transfer 3000 dollar in administration fees
W∴ Balboos wrote: 3 - If they cashed in their bitcoin, the appearance of real money would be traceable (and taxable).
There's nothing to cash in - BC is cash*.
--
*) for the given context.
Bastard Programmer from Hell
If you can't read my code, try converting it here[^]
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Eddy Vluggen wrote: You just need to transfer 3000 dollar in administration fees
So you are the prince from Zamunda Nigeria?
The language is JavaScript. that of Mordor, which I will not utter here
This is Javascript. If you put big wheels and a racing stripe on a golf cart, it's still a f***ing golf cart.
"I don't know, extraterrestrial?"
"You mean like from space?"
"No, from Canada."
If software development were a circus, we would all be the clowns.
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CDP1802 wrote: So you are the prince from Zamunda Nigeria?
Depending on the payment, I'll even be Elvis.
Bastard Programmer from Hell
If you can't read my code, try converting it here[^]
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I mostly agree with you, but BC made it a whole lot safer and easier to cash in the ransom. I also saw a case where real life kidnappers wanted BC as ransom payment. It makes the job of authorities a lot harder and for the criminals a lot easier.
If you think about putting safety measures to prevent someone entering your home, it won't really prevent it, but heck, it may just make the guy look somewhere easier.
To alcohol! The cause of, and solution to, all of life's problems - Homer Simpson
Our heads are round so our thoughts can change direction - Francis Picabia
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Fabio Franco wrote: I also saw a case where real life kidnappers wanted BC as ransom payment. It makes the job of authorities a lot harder and for the criminals a lot easier.
The currency that is most used (globally) for illegal transactions is the American Dollar.
Bastard Programmer from Hell
If you can't read my code, try converting it here[^]
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Eddy Vluggen wrote: The currency that is most used (globally) for illegal transactions is the American Dollar.
I know. It's because it's the most accepted currency worldwide too.
To alcohol! The cause of, and solution to, all of life's problems - Homer Simpson
Our heads are round so our thoughts can change direction - Francis Picabia
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Where BC is painted to be used by criminals and people who evade taxes. Again, most of that is in dollars.
BC is beyond state-control, and most countries do not like that idea. Which must mean that it is the best invention since sliced bread.
Bastard Programmer from Hell
If you can't read my code, try converting it here[^]
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Eddy Vluggen wrote: Where BC is painted to be used by criminals and people who evade taxes.
Like I said, I mostly agree with you. But it does make their activities easier, but I never mentioned it's only useful to them, or that BC is mostly used by them.
Like many things in life there are the upsides and downsides to it. The idea that government can't control it is actually really comforting. What I don't like about it is that it doesn't have any kind of material or service attached to it, so it floats like hell. I wouldn't keep a BC savings account for example, it's much too volatile and a big question mark. I would though use it as a small slice of my investments. It has potential, but I also fear it will eventually burst. To me it has the same value as the loan papers that caused US's real state bubble burst. It's based on something that 'may' pay.
To alcohol! The cause of, and solution to, all of life's problems - Homer Simpson
Our heads are round so our thoughts can change direction - Francis Picabia
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Fabio Franco wrote: What I don't like about it is that it doesn't have any kind of material or service attached to it, so it floats like hell.
Incorrect. Its value is derived from the fact that there are limited amounts of them.
Since it is a new currency, you can expect wild swings until a fair price is found.
Fabio Franco wrote: To me it has the same value as the loan papers that caused US's real state bubble burst. It's based on something that 'may' pay.
It is not a money-generating asset, so it would only pay if you speculate in the currency. It is a store of value however, and since demand has a lot room left to grow, I'd even argue that we are a long way from a bubble.
A bank is something that 'may' pay; as long as not everyone tries that simultaneous 
Bastard Programmer from Hell
If you can't read my code, try converting it here[^]
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