Bitcoin...surprised there isn’t more uk discussion/press coverage?

[Dancinggertrude]

Bitcoin has had an interesting few months, steadily rising.
Twitter feeds are full of American discussion about it, US press coverage etc.
Yet here it is still not v mainstream..
Aibu to be surprised ?
I’m neither a convert to bitcoin or an investor btw, I like to dabble and watching the charts /world press coverage really interests me.
Most (Uk)people I mention it to aren’t even aware you can purchase fractional bitcoin.

UK media is dumbed down for the dumbed down audience. They don't think the UK audience would understand something complicated, hence they don't talk about it much.

Just look at the BBC breakfast news segments on business and finance - I'm pretty sure they're aimed at primary school kids rather than adults. Compare that with what I'd regard as "proper" business and finance news on American TV news channels, or Euronews.

That’s why we have a rise in populist leaders (populist = tell you what you want to hear for votes even though it’s bullshit) like trump and Boris.

Just the same as Corbyn then, except that he isn't a leader (and never will be).

Every time I read the bbc news pages I’m left wondering if they’ve left the work experience kid in charge of content

But I was hoping this thread would transcend arguing about Boris and Corbyn

I’ve never felt so lost reading a MN thread, and I’ve got a degree in economics 😬.

My DH (who works in tech) invested a small amount in crypto a couple of years ago, just out of interest, and the value has fallen in that time. I can see I’m going to have to do a bit of research myself now.

@kolo do you know what he invested in?
Maybe today will be your lucky day!

Thank you so much @Dancinggertrude . I don't post much now (Ive been here forever and mainly lurk on the feminist boards) but when I saw this thread I had to get involved .

@Iggly You are right to be apprehensive - there are a lot of scammers out there. Caveat emptor. But, to expand on your point about governments (and banks) being controlled by a few very rich people, yes thats right - fiat currency is controlled by private individuals for the sole purpose of making them richer. They can print more whnever they like. When they increase the supply, its value depreciates. they get richer and we get poorer.

A properly deregulated and decentralised crypto currency robs them of this control (and this is why I love it).

I keep very little money in the bank for this reason - there are much better places to store your wealth and my preference is still for gold because it is in finite supply and cannot be created unlike fiats. Example: In 1913 an ounce of gold was $20 today its $1400. Meanwhile the dollar has depreciated in buying power by 97% because the Federal Reserve just keeps printing more and more of it and thus devaluing it.

This is why fiat currency should never be seen as a store of wealth - interest deflates the value of your pound and so loses you wealth.

I think bitcoin is closer to gold in this respect because there is a finite supply of it. In other respects, I see it as better than gold because it is easy to transfer digitally. This will be an advantage if Governments want to stop us holding gold as they did in 1930s USA. In fact, without straying into lizard territory, I think it is quite possible that the Government will want to stop people owning gold in my lifetime so I look at alternative ways to diversify storing wealth.

@AnnaForbes Fiat currency isnt controlled by private individuals but by states and central banks.

This finite supply argument only goes so far. There is a finite supply of my cut fingernails but they are not increasing in value (sadly)!!

I guess bitcoin has value as long as people use it for real (legal) transactions.

However the blockchain currency concept does not seem to have a patent and, if Facebook at al decide to create a currency (as seems likely), I suspect bitcoin will be a busted flush.

It is highly speculative.

I would follow Warren Buffet’s dictum: don’t invest in things that you don’t understand. 99.9% of the time, if a business concept cannot be explained in clear terms that any reasonably intelligent person can understand, it is probably not a viable long term business.

And whoosh, back down below $12k. Sigh. Oh well, maybe next time. Formed a perfect Bart, though. (if I’m not making sense, look at the rise and fall- looks like Bart Simpson’s head)

Hmmm I appreciated the opportunity to buy the dip

@Dancinggertrude bitcoin and ripple!?

Great posts @AnnaForbes. Keeping a small amount on an exchange e.g Coinbase is 'ok' but once more familiar it's far better to get your own wallet and keep it yourself. If Coinbase or your account gets hacked or Coinbase disappears into the night-then your crypto goes too. No regulation or protection here. Welcome to the wild west!

@kolo I suppose perhaps if he bought at the point in 2017 when the price went through the roof then yes, probably still at a loss.... but could change in the coming months if people turn to bitcoin as a hedge because of global instability ?

If I were in London, I would definitely buy some coffee from here.

That is v cool indeed

.

Bitcoin has hit the $12k mark a few times tonight already

There has been a little coverage in the independent and the express in the last couple of days .

I have been thinking for a number of years about setting up a crypto consultancy, particularly focused at women in my home city. I got pretty close to setting it up in 2017, then the price went mental, it was obvious it was going to crash and I backed out before I got blamed for losing lots of little old ladies life savings.

Would people be interested in a service like this - woman focused and in person - if it was available near you?

There are also lots of opportunities to earn crypto in various ways, particularly for things like digital art, music and creative writing. Is that something that people would be interested in hearing about if I set up a thread on the money boards?

(@Dancinggertrude I dont mean to hijack your thread btw, so if you dont think this post is appropriate, I'll ask mumnetHQ to delete)

I don’t think it’s inappropriate at all. This is a good place to discuss it.
I think the service would be fantastic but sadly I think you’d be treated with suspicion by people assuming you were out to rip them off !
I think word of mouth and building up a good reputation would probably be key.
And then as crypto becalmed more mainstream, more people would probably approach you.
I guess you could do outreach events that were free and informative in the first instance.

@Cailleachian IMO there is enough complexity in crypto that creates a barrier to entry to many ( understanding, how to buy, to how to store securely is beyond many, let alone what crypto to buy) to warrant such a service. I'd be interested in a money thread too to chat away to our hearts content!

I'm on a few Facebook crypto groups, there a few women posters but 99% male.

Male and dominated by frat boy types.
I listened to ‘bitcoin billionaire’ on audible.
I love a good swear but if I had to hear the phrase
‘Fuck him in the ear’ again in the first chapter I thought I’d need to bleach my ears . And the bitcoin Twitter feed is full of these images ‘view from my desk’ from blokes sat on tropical beaches with an iPad and a woman bending over next to it with a bikinid arse in the frame .
What even does it mean
‘Fuck him in the ear’ ? !