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The Crypto coin thread


Rob D
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1 minute ago, Rob D said:

 

Nope! - it is EXACTLY like gold - there is a finite number of Bitcoin - and each year it gets harder and harder to mine it and less and less is mined until 2040 when it will be unable to be mined.

 

It is impossible to increase this figure.

oh right so in 2040 on chainsawbars.uk I will be able to order a new battery topper and pay 0.000000437456 BTC

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Like the early cars though if you had the choice between the first ever car built to drive to work on a rainy day or your cosy Navara - you'd go for the Navara... the antique first car may run but you keep that in your garage as it keeps appreciating in value.

 

Bitcoin is like this first car - no doubt folk thought it very odd to start with - unreliable, no power, not that useful. Bitcoin is already becoming like this first car as new more modern crypto currencies start to come through that is more efficient and has more uses. How many cars and choice do you have today? That is the same as the crypto currency...

 

Some will go on to become icons - some will simply just become obsolete.

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1 minute ago, tree-fancier123 said:

oh right so in 2040 on chainsawbars.uk I will be able to order a new battery topper and pay 0.000000437456 BTC

Haha! Yep although I expect you will pay in Neo or Dash or Ripple and battery saws will be so yesterday with the current minature fusion powered top handles with a power supply that lasts 3 years between de contaminations! :))

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14 minutes ago, Rob D said:

 

Nope! - it is EXACTLY like gold - there is a finite number of Bitcoin - and each year it gets harder and harder to mine it and less and less is mined until 2040 when it will be unable to be mined.

 

It is impossible to increase this figure.

no its not, they just make a fork now and then, invent a new one and voila everyone signs up again on the promise it'll skyrocket

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19 minutes ago, Rob D said:

 

 

Bitcoin - you can send bitcoin to anyone anywhere in the world with access to the internet. There is NO INTERMEDIARY - no middle man, it is secure. Currency - there is one bitcoin not different types of bitcoin in different countries (like $,Yen,Euros) - it is universal.

 

Money - you can only send it to other people in the world that have a bank account. There is a middle man taking a commission.

I struggle when hear this. I get and send bank transfers most days, instantly, for free? as far as i can gather these 'currencies' are purely for hiding financial transactions or buying naughty things off the dark web

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2 minutes ago, dan494 said:

no its not, they just make a fork now and then, invent a new one and voila everyone signs up again on the promise it'll skyrocket

Yep - there is an element of that.. and some of the forks have value and some don't and next year that will be the issue with a hundred and one forks going on with Bit this and Bit that..

 

Hence research is required - research by yourself not your sister's boyfriend's uncle who used to work in the city don't you know and is an exceedingly clever chap!

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Just now, Rob D said:

Yep - there is an element of that.. and some of the forks have value and some don't and next year that will be the issue with a hundred and one forks going on with Bit this and Bit that..

 

Hence research is required - research by yourself not your sister's boyfriend's uncle who used to work in the city don't you know and is an exceedingly clever chap!

Yeah have done which why have come to my conclusions. It boils down to 2 elements to me. The overview how its going past 6 months that screams pyramid scheme worries me, and then the closer look about the purpose of it and I just cant see many people transferring pounds to bitcoins to send to aunty jill in japan who will turn them to yen whan a simple bank transfer does the job already. people like simple, thats why windows did well when msdos didnt and iphones did so well

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