The Bitcoin and cryptocurrency thread

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Vital Spark
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Re: The Bitcoin and cryptocurrency thread

Post by Vital Spark » Thu Feb 01, 2018 7:15 pm

Thistle wrote:
Thu Feb 01, 2018 7:05 pm
The volatility in Bitcoin seems to be continuing,and after a conversation today,i wonder if gambling is taken over as a way of life.
Sadly, I think it is, Thistle. There were so many news reports when Bitcoin was on the up and up that new investors looking for a quick buck decided to jump on to the (then) lucrative band wagon. To buy Cryptos with a credit card, and funds you don't have, is sheer lunacy. I've seen some of the sites you mention, and it looks like you have to go through a third party to invest. They're obviously going to take their cut of any profit, and they (the sites) are making money from people's ignorance of how to trade in Cryptos/Bitcoins.

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Re: The Bitcoin and cryptocurrency thread

Post by buksida » Fri Feb 02, 2018 7:56 am

Cryptocurrencies committee to outline stance this month

A working committee on cryptocurrencies is expected to clarify its stance on how to regulate digital currencies by this month, aiming to guard against fraud from investment in the tokens.

"Allowing bitcoin transactions to be made without warnings and direction from regulators is not acceptable," said finance permanent secretary Somchai Sujjapongse.

The Bank of Thailand, Finance Ministry and Securities and Exchange Commission (SEC) need to issue warnings that digital currencies are not regulated and investors in them do so at their own risk, he said.

Following the wild swings in bitcoin's trading value, Prime Minister Prayut Chan-o-cha instructed the Finance Ministry to educate people about the risks of investing in the virtual currency.

https://www.bangkokpost.com/business/fi ... this-month


I hope Pumpkinhead stays out of this.
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Crypto-currency value tracker

Post by Spitfire » Mon Feb 05, 2018 7:41 pm

Just an idea admin, but how about a crypto-currency value tracker just under the currency conversion rates on the main page as there is a space for say like 2-4 of the main digital currency's value to be put there? The thread on the forum has attracted a lot of interest...maybe worth considering, your call obviously.

TBH, no idea if there are scripts for this or if it's possible....but if so, then you would be the first to do so and that could be cool. Guess it would depend on if there were any legal issues or not here in the land of ambiguity about doing so....but if not, then maybe a cool idea to give up-to-date value on Bitcoin/Etherium etc.

Certainly might be a positive if doable.

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Re: The Bitcoin and cryptocurrency thread

Post by buksida » Mon Feb 05, 2018 7:48 pm

Doubt there would be many that are interested in it, HHF isn't really the right venue. Seems to be a very tiny minority as most on here seem to be traditionalists and naysayers.
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Re: The Bitcoin and cryptocurrency thread

Post by Spitfire » Mon Feb 05, 2018 7:55 pm

Yeah, maybe so, but just content for the passive user. Just a thought.
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Re: The Bitcoin and cryptocurrency thread

Post by Vital Spark » Mon Feb 05, 2018 8:13 pm

It's a tad depressing at the moment, Spitfire. I'd rather just peek at it when I felt like it, and was in a good mood.

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Re: The Bitcoin and cryptocurrency thread

Post by buksida » Thu Feb 08, 2018 5:44 pm

FORBES: The Richest People In Cryptocurrency

In the world of cryptocurrency, fortunes can be made overnight, and the winners of this digital lottery differ from those in previous manias. The shadowy beginnings, at once anarchistic, utopian and libertarian, have drawn an odd lot of pioneers—from antiestablishment cypherpunks and electricity-guzzling “miners” to prescient Silicon Valley financiers and a larger-than-usual assortment of the just plain lucky “hodlers,” the typo-inspired crypto jargon for “buy-and-hold” investors.

https://www.forbes.com/richest-in-crypt ... a2f7501d49

https://www.newsbtc.com/2018/02/07/top- ... ocurrency/
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Re: The Bitcoin and cryptocurrency thread

Post by StevePIraq » Fri Feb 09, 2018 1:31 am

Nothing like a good old gamble is there
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Re: The Bitcoin and cryptocurrency thread

Post by buksida » Fri Feb 09, 2018 7:35 am

Yep, just like stocks and commodities when you buy hoping they will go up.

Here is some perspective on that Bitcoin crash:
https://www.newsbtc.com/2018/02/06/when ... h-a-crash/
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Re: The Bitcoin and cryptocurrency thread

Post by StevePIraq » Fri Feb 09, 2018 5:02 pm

Not quite the same, not many reputable stocks drop 75%, also with a reputable stock they have assets to sell, what do CCs have. Even trading houses are stopping to use them as a currency as they cannot cope with the fluctuation
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Re: The Bitcoin and cryptocurrency thread

Post by buksida » Sat Feb 10, 2018 11:45 am

Just responding to the tired old gambling quips, of course its a bloody gamble, but so is every investment - only the level of risk changes.
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Re: The Bitcoin and cryptocurrency thread

Post by Nereus » Sat Feb 10, 2018 12:37 pm

buksida wrote:
Sat Feb 10, 2018 11:45 am
Just responding to the tired old gambling quips, of course its a bloody gamble, but so is every investment - only the level of risk changes.
A bit like getting out of bed in the morning, to say nothing of riding a motor sickle around in Thailand!
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Re: The Bitcoin and cryptocurrency thread

Post by Thistle » Sat Feb 10, 2018 3:26 pm

The gambling comments will of course continue,whilst the market is still extremely erratic,and not following any signs of real stabilization.
The level of risk is down to the individual investor,yes its all a gamble,but a person makes a choice as to enter a market or not,obviously dependent upon what they are actually hoping to obtain.Everyone who has an investment in something new,and suddenly the price explodes will be of course extremely positive,,,,,,,,,,,,however,it does not follow that the investment necessarily proves to reap the benefits, unless that person has the good fortune to sell at the opportune moment,take there profit and sit back with a smile.No matter if long/short term investment,,,,,,,,the market in bitcoin is still the same as a casino to a much greater extent that in any other current investment,IMHO.

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Re: The Bitcoin and cryptocurrency thread

Post by Spitfire » Sat Feb 10, 2018 7:19 pm

Was wondering about this folks. They say that Bitcoin miners are solving difficult math problems etc. but was wondering what happens when they are solved? Do they help some company or are they (the answers) sold off to companies or governments or what?

What are they actually solving and how does it pan-out later or what is the end game with the answers they produce? How do the answers to these math problems be valuable/

Just curious.
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Re: The Bitcoin and cryptocurrency thread

Post by buksida » Sun Feb 11, 2018 10:04 am

This should give you a bit more insight, happy reading!

https://www.bitcoinmining.com/
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