To ask if anyone dabbles with bitcoin?

[MollyWantsACracker]

Disclaimer: I am totally clueless

I bought a few euro worth today, just for fun really

Anyone else?

@ MN.

No CGT due as we aren’t in the UK. Thankfully or that would be a sore bill!

Because it's a scam. It's used for drug dealing and the illegal arms trade. In other words dirty money. If you're happy to make money out of that then that's your business.

Welol don't use your internet search engine of choice to see what the major banks have been fined for. They're involved in a million times more crime than bitcoiners, yet none of them are in jail. Ross Ulbrecht, on the other hand, is facing life in jail for doing the same things on a relatively tiny scale. How is that fair? He wasn't laundering money for the Mexican drug cartels, he wasn't rigging LIBOR, he wasn't providing access to funds for Iran, that was the banks. So @Viviennemary, crime is mostly facilitated by banks, not bitcoin.

Your fiat currency is more corrupt than bitcoin, and is the true bubble.

According to Michael Pento (GIYF), the banks are likely to go tits up late this year. But then again, he's trying to flog his hedge fund so...

Ronnie Moas reckons BTC could hit $40k this year.

I have a theory on Crypto based on my interpretation of part of a speech a couple of years ago by the BoE economist which I'll expand tomorrow. Too tired now.

And GIYF means Google Is Your Friend, not Google It You Fuckers. :o

LouPeru Are you joking?! How??? I'm sat here, a single Mum on disability benefits and would be over the moon to make £5 a day!

That's the trouble with this scheme. People are going to get sucked in and want a bit of the action thinking they can make loads. Really dangerous.

There is no one scheme. Cryptocurrency and the blockchain covers a huge spectrum of technology and finance. You are hugely over-simplifying it.

Frankly, at the moment, none of the trading exchanges are user-friendly and therefore trading them is likely to preclude those lacking the skills needed to do so. I certainly lack those skills and therefore, I do not trade. Any money I do invest and hold, is money I can afford to lose.

Vivienne do you know what day trading is? That’s what people like Sanshin and LouPeru are doing, only instead of day trading stocks, they are day trading a crypto. It takes quite a specific skill, and I too lack those skills and so I research, buy, research, hold, research, eventually sell/buy more etc.

Day trading really has nothing to do with what cryptos are about- it’s just a way that some people can make money.

Sorry, DeathValley, not Lou (though maybe Lou was another trader? I can’t remember now)

Yes I guessed what day trading must be. Also backing on futures which is allowable now for cryptocurrency. It's gambling really. And isn't there a danger that the exchanges won't clear people's sales and purchases within a reasonable time limit. I read that the admin people will soon make off with all the money. And no comeback because no regulation. I am the lone voice of common sense.

the people with common sense aren't recommending that single mums on benefit do trading. only scumbags would do that.

Vivian I'm not sure why picking up a hobby horse you know next to nothing about and blurting out half understood things you've read somewhere makes you believe yourself to be "the lone voice of common sense". Youve said numerous things on the threads that simply aren't true (for example you claimed that bitcoin can't be used to buy things) and never admitted your errors but just breezed on making proclamations based on hot air and googling. This obsession with setting yourself up as an expert on something you've only read a bit about over the last week or so is bordering on the peculiar...

But, but, but, I would love to know how “the admin people” will be able to steal my money. Not that Vivienne will come back to explain in detail, but it would be fun. Am 100% certain that those thieving admin people won’t be able to get their mucky paws on my coins.

where do you keep your coins, noofly?

I keep them on a Nano Ledger S.

This www.newyorker.com/magazine/2011/10/10/the-crypto-currency?mbid=social_twitter popped up on my social media today - it dates from 2011 and is a lovely, accessible read with an intriguing twist about the UK-centric language used by Satoshi Nakamoto in communications.

I have no idea how bitcoin could be stolen but I have on good authority it has already happened. Reasons why I am not in favour. It's unregulated. It has no back up. It is not accepted very widely as a medium of exchange. Why are people buying Bitcoin. Because they hope it will go up in price. So speculative. Is it a currency. A lot of people say no it isn't. Why is it so volatile? Is it being manipulated. Yes. Anyway you all obviously think you know what you're doing. But just keep your reality hat on.

try here: www.reddit.com/r/SorryForYourLoss/ for how bitcoin gets stolen.

billions have been stolen already, it's a paradise for crooks and a haven for the sort of libertarian cunt who wants people to die in pain because they didn't take out health insurance or whatever.

Of course bitcoins get stolen. That’s why only a fool leaves them on an exchange. Exchanges will tell you to get anything you don’t want to trade off the exchange. I have no sympathy for anyone stupid enough to leave them there and then has them stolen. Not your key, not your coins.

That was a good article, MN. I would love to know what happened to the Kentucky miner. Did he manage to hang onto enough to make his fortune? Hope so.

Today is Bitcoin’s 9th birthday.

Could this be him Noofly? twitter.com/guitargods?lang=en

(I had the same thought.) It could be a construct though. And maybe this is Jefferson Kim (I definitely need to get back into work mode.)

Happy birthday Bitcoin. You've given me much entertainment and - argggh - there's a relevant backstory that would be totally outing of me to mention here. Sigh...

Good find- he’s claiming it’s him and that he still has 7000odd coins. Not sure he’s very nice though, reading his Twitter feed.

It looks like Michael Clear is at Georgetown now doing post PhD type stuff. He publishes a lot of cryptology papers!

Maybe your backstory means you are Satoshi! Go on, spill, we won’t tell anyone...

I had a quick scroll and couldn't make Kev's politics out. On one hand, there are those sneakers and Trump references but further back, he seemed to be a fan of Joe Biden. But his love of Black Sabbath is a major mark against him in any case. I really hope Jefferson Kim managed to keep a few Bitcoin though - and that hotel room cost the equivalent of $150,000 today. I wish I could be Satoshi but it's more tangental than that. But perhaps Michael Clear is.

Another interesting article - and cautionary tale - is this Wired article about a man who lost his Trezor (similar to a Nano Ledger) PIN and seed phrases. www.wired.com/story/i-forgot-my-pin-an-epic-tale-of-losing-dollar30000-in-bitcoin/

(I should really be getting into work mode.)