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Post by Clinton Cool on Jun 23, 2021 17:34:53 GMT
Well Ok that might be true, but on the other hand the Governor did “promise to pay…” and surely no government body ever reneges on its promises? But equally, what of someone presses “control alt delete” on your stash of Bitcoin? The latter is much easier to do than for the U.K. government to decide to remove all value from Sterling. And let’s face it, why would they want to? It isn't possible for someone to 'control alt delete' your bitcoin unless you hand your bitcoin over to an idiot to store for you, so it definitely isn't easier to do... Look at how much value has been removed from sterling by the government in the last 18 months... That's what interests me in Bitcoin. I foresee a massive devaluation of the Pound coming up. I have some gold for now. Currencies are all about trust. I reckon the Dollar will tank first, Pound will follow, we always follow.
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Post by Telemachus on Jun 23, 2021 18:26:26 GMT
Well Ok that might be true, but on the other hand the Governor did “promise to pay…” and surely no government body ever reneges on its promises? But equally, what of someone presses “control alt delete” on your stash of Bitcoin? The latter is much easier to do than for the U.K. government to decide to remove all value from Sterling. And let’s face it, why would they want to? It isn't possible for someone to 'control alt delete' your bitcoin unless you hand your bitcoin over to an idiot to store for you, so it definitely isn't easier to do... Look at how much value has been removed from sterling by the government in the last 18 months... And yet there seem to have been a number of high profile “Bitcoin thefts” (or government hostile acquisitions) in the last few years. Of course a bank can also be robbed, but when that happens the bank refunds the lost money.
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Post by metanoia on Jun 23, 2021 18:31:57 GMT
No, Sterling is backed by the UK’s wealth, which is continuously added to by people working. That is not at all how it works... Good to see you're about Delta9. How are you doing? Have you made the move to Wales yet?
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Post by Clinton Cool on Jun 23, 2021 18:37:57 GMT
Bloody hell, the whole world seems to be moving to Wales. At this rate, people will outnumber sheep.
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Post by Deleted on Jun 23, 2021 18:53:26 GMT
Wide and rapid fluctuations in an asset's value is generally seem as the precursor to a major collapse in that asset's value. Bitcoin has been reducing in volatility over time for the last 10 years and is currently more stable than a lot of country's official currencies. Come on now delta, that’s a bit far fetched. just look at the graphs for the last year
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Post by Clinton Cool on Jun 23, 2021 18:59:33 GMT
Bitcoin has been reducing in volatility over time for the last 10 years and is currently more stable than a lot of country's official currencies. Come on now delta, that’s a bit far fetched. just look at the graphs for the last year I'm not sure it's more stable than many currencies but it's certainly more stable than it was. A friend of mine watched it tumble, think it lost 75% or so in a matter of days or a couple of weeks at the most. This was maybe 5 years ago. He lost £100,000 on paper. Of course he didn't lose it in reality, it went back up, and some...
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Post by Delta9 on Jun 23, 2021 21:32:03 GMT
Bitcoin has been reducing in volatility over time for the last 10 years and is currently more stable than a lot of country's official currencies. Come on now delta, that’s a bit far fetched. just look at the graphs for the last year look at the charts for the Venezuelan Bolivar or currencies of other small and turbulent nations...
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Post by Delta9 on Jun 23, 2021 21:33:17 GMT
That is not at all how it works... Good to see you're about Delta9. How are you doing? Have you made the move to Wales yet? Cheers, I'm not too bad... Complete on the house in Wales on Monday
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Post by Delta9 on Jun 23, 2021 21:41:28 GMT
It isn't possible for someone to 'control alt delete' your bitcoin unless you hand your bitcoin over to an idiot to store for you, so it definitely isn't easier to do... Look at how much value has been removed from sterling by the government in the last 18 months... And yet there seem to have been a number of high profile “Bitcoin thefts” (or government hostile acquisitions) in the last few years. Of course a bank can also be robbed, but when that happens the bank refunds the lost money. The Bitcoin scene has been a bit 'wild west' in the past, and scam exchanges, just as people get scammed out of their sterling. If you store your own bitcoins in the correct way it is impossible for someone to steal or confiscate them.. These days, if you don't know how to securely store bitcoin yourself, there are fully insured custody solutions provided by various exchanges and funds. Some banks now also offer fully insured Bitcoin custody to their customers, though the UK is a bit behind everyone else, as usual...
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Post by Mr Stabby on Jun 23, 2021 21:49:30 GMT
My general thoughts on Bitcoin is that it's fine for a punt but don't put any money into it that you aren't prepared to lose. Most serious investors say you should restrict 5% of your investment funds to Bitcoin.
Look on Bitcoin as being like those "Penny Falls" machines in a seaside amusement arcade and you won't go far wrong.
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Post by Deleted on Jun 23, 2021 21:57:35 GMT
I always wanted to hit those coin sliding machines with something really big and heavy like a sledge hammer or a 12 bore but looking round there is always some dodgy pikey watching.
I wonder if the same can be said for the bit thing.
It seems likely that it's a bit of a Ponzi scheme.
ETA it's an interesting scheme but what happens when you actually want to get the money out?
Maybe people invest for the children but do they think about what happens when they might want to actually have some money?
Or is it all about invest invest invest and never mind the fact it's not actually useful for anything.
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Post by Clinton Cool on Jun 23, 2021 22:39:30 GMT
And yet there seem to have been a number of high profile “Bitcoin thefts” (or government hostile acquisitions) in the last few years. Of course a bank can also be robbed, but when that happens the bank refunds the lost money. The Bitcoin scene has been a bit 'wild west' in the past, and scam exchanges, just as people get scammed out of their sterling. If you store your own bitcoins in the correct way it is impossible for someone to steal or confiscate them.. These days, if you don't know how to securely store bitcoin yourself, there are fully insured custody solutions provided by various exchanges and funds. Some banks now also offer fully insured Bitcoin custody to their customers, though the UK is a bit behind everyone else, as usual... I'm terrible with technology and don't have the patience to learn. What do you think about opening an account with etoro and buying Bitcoin through that? The account would be password protected, the firm is apparently regulated by the relevant authority, but that's all I know.
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Post by Delta9 on Jun 24, 2021 8:48:10 GMT
The Bitcoin scene has been a bit 'wild west' in the past, and scam exchanges, just as people get scammed out of their sterling. If you store your own bitcoins in the correct way it is impossible for someone to steal or confiscate them.. These days, if you don't know how to securely store bitcoin yourself, there are fully insured custody solutions provided by various exchanges and funds. Some banks now also offer fully insured Bitcoin custody to their customers, though the UK is a bit behind everyone else, as usual... I'm terrible with technology and don't have the patience to learn. What do you think about opening an account with etoro and buying Bitcoin through that? The account would be password protected, the firm is apparently regulated by the relevant authority, but that's all I know. I don't know much about eToro, but it looks like they are insured and regulated. I would probably recommend Coinbase as he most trusted place to store Bitcoin if you don't want to deal with security yourself. help.coinbase.com/en/coinbase/other-topics/legal-policies/how-is-coinbase-insured
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Post by Deleted on Jun 24, 2021 12:18:55 GMT
Come on now delta, that’s a bit far fetched. just look at the graphs for the last year look at the charts for the Venezuelan Bolivar or currencies of other small and turbulent nations... The reference was for this comment. 'Bitcoin has been reducing in volatility over time for the last 10 years' The graphs show it was stable till two years ago then went nuts and is now dropping, if i had money in there from two years ago i would be pulling it out today and making dollar, i wouldn't put it back in till it remains stable again.
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Post by Delta9 on Jun 24, 2021 15:31:24 GMT
look at the charts for the Venezuelan Bolivar or currencies of other small and turbulent nations... The reference was for this comment. 'Bitcoin has been reducing in volatility over time for the last 10 years' The graphs show it was stable till two years ago then went nuts and is now dropping, if i had money in there from two years ago i would be pulling it out today and making dollar, i wouldn't put it back in till it remains stable again. . It was far from stable previously compared to now. Look at a logarithmic chart, not a linear one...
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