The Crypto coin thread

[Mortimer Firewood]

7 hours ago, dan494 said:

the problem with greece was noone paid their taxes to the country went bust, til they got bailed out. I worry bitcoin will hide transactions so people dont pay their share and we all suffer

 They don't have to hide them. 

[Vespasian]

55 minutes ago, Mortimer Firewood said:

I will hold my head in permanent shame from this day forward.

I love the way you passed judgment on something you don't understand

Oh but I do understand what bitcoin is.. its a gambling site masquerading as a crypto currency...

 

the fact that it pretends to be something its not is what annoys.. its a lie..  so, if you engage in bitcoin trading you're part of the moral bankruptcy of the enterprise..

 

as far as I'm concerned, theres one legitimate form of gambling, and thats when you invest in hard assets to increase your business growth..

 

Gambling on horses, or crypto currency is nothing but a sign of moral bankruptcy..  by engaging in both, you're promoting idleness and sloth as an alternative to hard work and industry...  

 

Thats why its morally bankrupt as an enterprise, and thats why you should be ashamed to be part of it...

 

 

[Rough Hewn]

Oh but I do understand what bitcoin is.. its a gambling site masquerading as a crypto currency...
 
the fact that it pretends to be something its not is what annoys.. its a lie..  so, if you engage in bitcoin trading you're part of the moral bankruptcy of the enterprise..
 
as far as I'm concerned, theres one legitimate form of gambling, and thats when you invest in hard assets to increase your business growth..
 
Gambling on horses, or crypto currency is nothing but a sign of moral bankruptcy..  by engaging in both, you're promoting idleness and sloth as an alternative to hard work and industry...  
 
Thats why its morally bankrupt as an enterprise, and thats why you should be ashamed to be part of it...
 
 

[emoji15][emoji15][emoji15]
You got a real point there vesp.
[emoji106]

[Mortimer Firewood]

2 hours ago, Vespasian said:

Oh but I do understand what bitcoin is.. its a gambling site masquerading as a crypto currency...

 

the fact that it pretends to be something its not is what annoys.. its a lie..  so, if you engage in bitcoin trading you're part of the moral bankruptcy of the enterprise..

 

as far as I'm concerned, theres one legitimate form of gambling, and thats when you invest in hard assets to increase your business growth..

 

Gambling on horses, or crypto currency is nothing but a sign of moral bankruptcy..  by engaging in both, you're promoting idleness and sloth as an alternative to hard work and industry...  

 

Thats why its morally bankrupt as an enterprise, and thats why you should be ashamed to be part of it...

 

 

I'm afraid you got that completely wrong old boy not to worry. 

If someone is stupid enough to invest money in something they can't afford  then I'm sorry they are going to learn the lesson the hard way. 

When I become a bitcoin millionaire I'll look you up and maybe get s Russian bride sent to you while sailing to South America  to execute my next dastardly plan. 

 

Merry Christmas ? 

[Rob D]

3 hours ago, Vespasian said:

Oh but I do understand what bitcoin is.. its a gambling site masquerading as a crypto currency...

 

the fact that it pretends to be something its not is what annoys.. its a lie..  so, if you engage in bitcoin trading you're part of the moral bankruptcy of the enterprise..

 

 

 

You do not understand what Bitcoin is because I have read all of your posts and it's pretty clear you have little to no knowledge on the subject.

 

And yet from that place of little knowing you feel entirely able to cast down weighty and mighty judgements. You'd have us all being bummed and burned to death in hell for our sins wouldn't yee given just half the chance

 

Does life become tedious to have such strong feelings on everything all the time - most of which you know little or nothing about?

 

I used to inhabit that same place and it has taken an awful lot of self discipline and work to move away from it. I'm not there yet but I am getting there.

 

It was about the time I started boring myself with myself I thought 'enough is enough!'

 

 

 

[Rob D]

3 hours ago, Rough Hewn said:

You got a real point there vesp.

How has he possibly got a point? He's contradicted himself 3 times just in that 1 post!

 

[Rob D]

20 hours ago, dan494 said:

Doesnt make sense as a place to hold money when its so open to hacks and value being up and down more than a prozzies knickers. One exchange on south korea has gone bust this week when lost 25% of the coins it held for its customers.. Money in the bank is insured up to about £80k so cant be lost if you just want to have some in a place you can access. 

If someone said to you 'ive got a string of computer code that does nothing but you can send it to other people securely and its only £11,000' anyone in their right mid would laugh their heads off and run away! Call it an investment and spam everyones emails with it to build up chat and people are all over it??

 

The exchanges that Bitcoin is traded on got hacked.

 

Bitcoin itself has never been hacked to date. Don't confuse the two things.

 

Money in the bank is insured up to £80k - so what happens if you have more than £80k??

 

Said it once and said it a thousand times - I have researched how money £ notes began - how it stopped being backed by the gold standard... quantitive easing... the real 'scam' (in my humble opinion) is the bits of paper you currently carry in your wallet.

 

That is when you see more value in the cryto currencies.

 

My investment in cryptos tends not to be in Bitcoin because of the nonsense that has grown up with it. But that still does not change what Bitcoin is and isn't.

 

 

 

[Rob D]

12 hours ago, dan494 said:

the problem with greece was noone paid their taxes to the country went bust, til they got bailed out. I worry bitcoin will hide transactions so people dont pay their share and we all suffer

So no need to actually confirm or deny this in or on a public forum, just food for thought. From this statement you have never done a cash job right? You have declared every penny you have ever earned and never hidden it?

 

 

 

[Rob D]

1 hour ago, Mortimer Firewood said:

I'm afraid you got that completely wrong old boy not to worry. 

If someone is stupid enough to invest money in something they can't afford  then I'm sorry they are going to learn the lesson the hard way. 

When I become a bitcoin millionaire I'll look you up and maybe get s Russian bride sent to you while sailing to South America  to execute my next dastardly plan. 

 

Merry Christmas ? 

 

Haha! Just worked it out! You're that Kaiser Sosay or Satoshi Nakamoto right?

 

Now if you don't know Satishi Nakamoto or who he is - maybe have a wee Google (if this interests you) and look into things a little deeper than what the Daily Mail does

 

[Rob D]

Bitcoin has the possiblity of crashing but not because it is a scam or a pyramid scheme...

 

• Massive power consumption now needed to perform Bitcoin mining. And you can't just stop mining because it is the miners that validate and run the network. Is it therefore sustainable? This power usage will only get higher and higher... If the price drops a lot it becomes not worth mining it - which means the network slows down and or even ceases - which means more people sell, price drops, and down she goes!

 

• High transfer fees - because Bitcoin has increased so much in value the fees for transferring Bitcoin have gone up - they were always meant to be negligible.

 

• Speed of transactions slow - again down to price and the amount of transactions on the network. Few years ago they were instant - now they can take up to 10 hours. The whole ethos of Bitcoin was to have fast cost free transactions. But both these main fundamentals are no longer true.

 

• Doubts about Tether coin which it seems could have been used to artifically increase the price of Bitcoin and if the all the coins drop then people buy Tether (which is pegged to $1) in order to safeguard gains... then when you think the Bitcoin price is at lowest you buy in again. Last time looked at this there were $800 million in Tether, now there are $1,200 million of tether... if you look at the chart you can see it has gone up because folk see all the coins dropping and look for a safe haven! And this coin has got to be the least safe haven!

 

 

 

I was hoping at some point in the thread we could turn the debates and discussion more about the above rather than just the standard 'she looks like a witch so buuuuurrrrnnnnnnn her' type posts