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Bitcoin

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By (user no longer on site) OP   
over a year ago

Hi all has any of ever thought about bitcoin

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By *offiaCoolWoman
over a year ago

Kidsgrove

Off to Google.

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By (user no longer on site)
over a year ago

[Removed by poster at 04/02/21 14:21:57]

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By (user no longer on site)
over a year ago

I wish I had thought about it when it first came about lol

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By *rumpyMcFuckNuggetMan
over a year ago

Den of Iniquity

Only when I delete the Emails saying I have thousands of them mysteriously locked away somewhere

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By *offiaCoolWoman
over a year ago

Kidsgrove

Ah money investment. No money to invest, so that is me out

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By (user no longer on site) OP   
over a year ago

Want to look into big time

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By *naquest321Man
over a year ago

Carlisle

XRP

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By *exybreeksMan
over a year ago

East Calder


"Want to look into big time "

Remember when it was knocking about on Reddit a pennies a coin and thinking I should look into it. Even made a wallet etc but never got round to buying as I didn't really understand it. Would have been a millionaire now if I'd stuck £100 in back then. Se la vie.

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By *enitentsCouple
over a year ago

trowbridge

An economist called muckerjee once defined money as a metaphysical concept of circularity which could be a good definition of bitcoin

There will be crypto currency but long term doubt it’ll be bitcoin

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By (user no longer on site) OP   
over a year ago


"XRP"

That’s my next now to move money into. Which app do u use

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By (user no longer on site)
over a year ago

Risky and volatile investment

if you can’t afford to lose the money don’t invest

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By *istretchMan
over a year ago

leeds

Doge is the next big thing according to elon musk twitter feed

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By (user no longer on site) OP   
over a year ago

Until ur in it u won’t see it

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By *tephTV67TV/TS
over a year ago

Cheshire

Put $75 dollars (on etoro account) in Bitcoin and $50 dollars on Ethereum on Tuesday. So far I’m $10 up, but my intention is to keep them long term.

I can afford to lose the whole $125 if they suddenly crash and are useless in a few months or years. But if it carries on growing and more companies or countries start taking it seriously, who knows

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By (user no longer on site)
over a year ago

True way to profit Mining is the only way

Start up and running costs are high but the return in the long run

Two ways you can do it

Dedicated asic miner witch is dedicated hardware for mining it will yeald the most but no real resale value on hardware as it gets older and slower

Or you can go

Gpu mine witch yelds less but there resale value in the card before it gose pop hence why you should always be very careful when buying second hand gpu that they not been minded on

Basically mine on the cards for 6-7 months flip them for a £300 loss off the msrp then take £300 off your profit and get new cards and start over

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By *.D.I.D.A.SMan
over a year ago

London/Essex... ish... Romford to be exact

Institutions are now getting into crypto so it is still early enough to make money and institutional money makes it less likely for it all to be a fad. Whilst alt coins may boom and bust, bitcoin is seen as a store of value similar to gold. Alt coins don't really have mainstream utility but block chain technology may be here to stay. We are still in the infancy of the development so getting in on the trend now is potentially still profitable in the long run. Crypto is volatile and will swing wildly but you should look at it as a long term investment. Those who invested during the previous highs saw their funds deplete in value to 1/7 at some points, some worse, but after patiently waiting three years they are seeing them return to their initial value or more. I held back from investing at various points as I kept waiting for the dumps in value and missed all the points where they suddenly skyrocketed. It can be stressful monitoring the constant volatility so maybe invest what you like then just leave it there and check only so often. You can make and lose if you trade so perhaps investing is a better approach in mid to long term.

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By *agneto.Man
over a year ago

Bham

I read about and still don't have the foggiest. Was trying to get my head around Bitcoin mining but still none the wiser.

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By *uskymotoMan
over a year ago

Cumbria

Mining bitcoin years ago was relatively cheap, just use GPU cards linked together to crack the codes. There's only 21 million in total and about 19 have been mined so far. As more are cracked, it gets harder and harder to mine the rest. It's not as profitable now as the electric required to run servers to find the remaining ones is massive.

When I first went into them it was a lot of gambling and loads of scams. I know a few thousand people who got sucked in by a company called USI TEC. They were the 3rd biggest miners in the world, cleared off with everyone's money and nobody got a single penny. One guy paid for a pizza with 1 bitcoin. It was worth $20K 4 years later, retrospect is easy though.

I made a wee bit but got out of the game when I realised how fragile it is. One day someone could write an algorithm and if it cracks every coin, he could steal the world supply in one go. You may have one stored on a USB vault but could be worthless when you try to use or cash it in.

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By (user no longer on site)
over a year ago


"Off to Google."
same.....

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By *.D.I.D.A.SMan
over a year ago

London/Essex... ish... Romford to be exact


"Mining bitcoin years ago was relatively cheap, just use GPU cards linked together to crack the codes. There's only 21 million in total and about 19 have been mined so far. As more are cracked, it gets harder and harder to mine the rest. It's not as profitable now as the electric required to run servers to find the remaining ones is massive.

When I first went into them it was a lot of gambling and loads of scams. I know a few thousand people who got sucked in by a company called USI TEC. They were the 3rd biggest miners in the world, cleared off with everyone's money and nobody got a single penny. One guy paid for a pizza with 1 bitcoin. It was worth $20K 4 years later, retrospect is easy though.

I made a wee bit but got out of the game when I realised how fragile it is. One day someone could write an algorithm and if it cracks every coin, he could steal the world supply in one go. You may have one stored on a USB vault but could be worthless when you try to use or cash it in. "

There was a fear that quantum computing would result in the possibility of bitcoin getting cracked. No idea on validity of this but if and when this is true, we'd all know.

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By (user no longer on site)
over a year ago


"Mining bitcoin years ago was relatively cheap, just use GPU cards linked together to crack the codes. There's only 21 million in total and about 19 have been mined so far. As more are cracked, it gets harder and harder to mine the rest. It's not as profitable now as the electric required to run servers to find the remaining ones is massive.

When I first went into them it was a lot of gambling and loads of scams. I know a few thousand people who got sucked in by a company called USI TEC. They were the 3rd biggest miners in the world, cleared off with everyone's money and nobody got a single penny. One guy paid for a pizza with 1 bitcoin. It was worth $20K 4 years later, retrospect is easy though.

I made a wee bit but got out of the game when I realised how fragile it is. One day someone could write an algorithm and if it cracks every coin, he could steal the world supply in one go. You may have one stored on a USB vault but could be worthless when you try to use or cash it in.

There was a fear that quantum computing would result in the possibility of bitcoin getting cracked. No idea on validity of this but if and when this is true, we'd all know. "

Quantum computers will be able to break down encryption systems so it's possible it could hack crypto encrypted systems like bitcoin,but quantum computers cost 10s/100s millions of pounds and are decades away from being in your front room so I wouldn't let that deter you from bitcoin.

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By *uskymotoMan
over a year ago

Cumbria


"Mining bitcoin years ago was relatively cheap, just use GPU cards linked together to crack the codes. There's only 21 million in total and about 19 have been mined so far. As more are cracked, it gets harder and harder to mine the rest. It's not as profitable now as the electric required to run servers to find the remaining ones is massive.

When I first went into them it was a lot of gambling and loads of scams. I know a few thousand people who got sucked in by a company called USI TEC. They were the 3rd biggest miners in the world, cleared off with everyone's money and nobody got a single penny. One guy paid for a pizza with 1 bitcoin. It was worth $20K 4 years later, retrospect is easy though.

I made a wee bit but got out of the game when I realised how fragile it is. One day someone could write an algorithm and if it cracks every coin, he could steal the world supply in one go. You may have one stored on a USB vault but could be worthless when you try to use or cash it in.

There was a fear that quantum computing would result in the possibility of bitcoin getting cracked. No idea on validity of this but if and when this is true, we'd all know.

Quantum computers will be able to break down encryption systems so it's possible it could hack crypto encrypted systems like bitcoin,but quantum computers cost 10s/100s millions of pounds and are decades away from being in your front room so I wouldn't let that deter you from bitcoin. "

True, but it'll be the 1st ones built that'll be put to use for unethical purposes, probably by the Chinese government.

I worked in an industry that China wasn't allowed to enter into the British market. We had hundreds of online attacks and that's where they all came from. I'm certain it wasn't some kid in Peking playing in his bedroom, it would have been their government. Crack one blockchain and you may crack the back door to online banking also

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By *uskymotoMan
over a year ago

Cumbria


"Mining bitcoin years ago was relatively cheap, just use GPU cards linked together to crack the codes. There's only 21 million in total and about 19 have been mined so far. As more are cracked, it gets harder and harder to mine the rest. It's not as profitable now as the electric required to run servers to find the remaining ones is massive.

When I first went into them it was a lot of gambling and loads of scams. I know a few thousand people who got sucked in by a company called USI TEC. They were the 3rd biggest miners in the world, cleared off with everyone's money and nobody got a single penny. One guy paid for a pizza with 1 bitcoin. It was worth $20K 4 years later, retrospect is easy though.

I made a wee bit but got out of the game when I realised how fragile it is. One day someone could write an algorithm and if it cracks every coin, he could steal the world supply in one go. You may have one stored on a USB vault but could be worthless when you try to use or cash it in.

There was a fear that quantum computing would result in the possibility of bitcoin getting cracked. No idea on validity of this but if and when this is true, we'd all know.

Quantum computers will be able to break down encryption systems so it's possible it could hack crypto encrypted systems like bitcoin,but quantum computers cost 10s/100s millions of pounds and are decades away from being in your front room so I wouldn't let that deter you from bitcoin. "

True, but it'll be the 1st ones built that'll be put to use for unethical purposes, probably by the Chinese government.

I worked in an industry that China wasn't allowed to enter into the British market. We had hundreds of online attacks and that's where they all came from. I'm certain it wasn't some kid in Peking playing in his bedroom, it would have been their government. Crack one blockchain and you may crack the back door to online banking also

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By (user no longer on site)
over a year ago


"Mining bitcoin years ago was relatively cheap, just use GPU cards linked together to crack the codes. There's only 21 million in total and about 19 have been mined so far. As more are cracked, it gets harder and harder to mine the rest. It's not as profitable now as the electric required to run servers to find the remaining ones is massive.

When I first went into them it was a lot of gambling and loads of scams. I know a few thousand people who got sucked in by a company called USI TEC. They were the 3rd biggest miners in the world, cleared off with everyone's money and nobody got a single penny. One guy paid for a pizza with 1 bitcoin. It was worth $20K 4 years later, retrospect is easy though.

I made a wee bit but got out of the game when I realised how fragile it is. One day someone could write an algorithm and if it cracks every coin, he could steal the world supply in one go. You may have one stored on a USB vault but could be worthless when you try to use or cash it in.

There was a fear that quantum computing would result in the possibility of bitcoin getting cracked. No idea on validity of this but if and when this is true, we'd all know.

Quantum computers will be able to break down encryption systems so it's possible it could hack crypto encrypted systems like bitcoin,but quantum computers cost 10s/100s millions of pounds and are decades away from being in your front room so I wouldn't let that deter you from bitcoin.

True, but it'll be the 1st ones built that'll be put to use for unethical purposes, probably by the Chinese government.

I worked in an industry that China wasn't allowed to enter into the British market. We had hundreds of online attacks and that's where they all came from. I'm certain it wasn't some kid in Peking playing in his bedroom, it would have been their government. Crack one blockchain and you may crack the back door to online banking also "

Ah okay fair enough I don't have that insider knowledge, but yh I agree the CCP could potentially do something like that but still interesting comment, we shall see what the future holds

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By *uskymotoMan
over a year ago

Cumbria

Bitcoin has just had it's big price rally and looking at trade price action it's about topped out. I'd expect it to correct itself over the next few months, volatile moves in both directions but ultimately go down. This will take a few months, maybe be July or August before it goes down and retest previous highs of price action about the 22 or 24k price before it's next big move in the market.

It's following the pattern of gold or other safe haven commodities, although I'd rather trade gold if you're keen on long term positions.

I'm certainly no expert but I've worked with a couple. I like Ray Gilmour's market analysis, Google "markets made clear" hit C.O.T data is good.

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By *rder66Man
over a year ago

Tatooine

Buy gold.

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By (user no longer on site)
over a year ago


"Bitcoin has just had it's big price rally and looking at trade price action it's about topped out. I'd expect it to correct itself over the next few months, volatile moves in both directions but ultimately go down. This will take a few months, maybe be July or August before it goes down and retest previous highs of price action about the 22 or 24k price before it's next big move in the market.

It's following the pattern of gold or other safe haven commodities, although I'd rather trade gold if you're keen on long term positions.

I'm certainly no expert but I've worked with a couple. I like Ray Gilmour's market analysis, Google "markets made clear" hit C.O.T data is good."

Yh I agree with bitcoin going down before, before it goes through another rally, so for now I'm just gonna hold(hodl) rather than selling but we shall see what happens

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By *ushNWWoman
over a year ago

Salford

I’ve not yet put any money in but I do have Coinbase. I’ve done a few of their lessons and I earned $41. A few months later it’s worth $135!

Hubby had an account too but unfortunately started out with his shortened name so couldn’t verify identity. He could still withdraw his Bitcoin though and £70 went into our account.

I do plan to invest

People who say don’t invest what you can’t afford to lose! Great advice for any stock investment

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By (user no longer on site)
over a year ago

I did more than think about it, as my second property will testify.

My advice - google Pi & get mining from your phone. Thanks me later x

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By *tephTV67TV/TS
over a year ago

Cheshire


"I did more than think about it, as my second property will testify.

My advice - google Pi & get mining from your phone. Thanks me later x"

Thanks, I’ve started mining

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By (user no longer on site)
over a year ago

Great stuff!

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By *wisted999Man
over a year ago

North Bucks

Missed the boat on Bitcoin. Made a fair bit on the chain link pump.

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By *assing Fancies xCouple
over a year ago

Sherwood Forest

I was reading today that if you bought £100 worth in 2009 then they would be worth £43million today .... I'd rather have my 4bed semi and get up for work at 5am mon-fri wouldn't like laying on a beach for the rest of my life anyway I'm not one nit jealous honestly

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By *exybreeksMan
over a year ago

East Calder

What's worse than finding that out now?

Knowing about it then and dismissing it... Kill me!

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By *wistedTooCouple
over a year ago

Frimley

Bought £150 worth and have made a tenner in value over the last 48 hours. Just a bit of fun. Might buy more but we’ll see. Not bothered about losing a couple of hundred quid but wouldn’t be happy if we lost thousands and it takes a smarter mind than us to see the value of this stuff in the longer term. Could drop at any moment.

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By *olarbear73Man
over a year ago

Glasgow

Yeah I thought about them recently.

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By (user no longer on site)
over a year ago

Since around 2014 Ive bought sold and HODL’d crypto. Alt coins are bullish so currently buying them on the regular and will hold.

It’s an odd one, to think Ive bought in at 6k early last year but sold when the price was 20k thinking that was the ceiling and now its double that!

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By (user no longer on site)
over a year ago

I bought one litecoin last Oct for 40 euro sold it at Xmas for 90 euro. One litecoin went to over 200 euro today.

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By *.D.I.D.A.SMan
over a year ago

London/Essex... ish... Romford to be exact

The crypto season is very bullish. No matter what you do you will stand a good chance or making something currently. It's just a question of which coin you pick for the highest potential. Coins have shown 10x profits within a week as a not unusual occurrence. Coins doubling in value in a day is happening frequently.

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