Bitcoin news

The Bitcoin fork is only days away now.
It occurs on 1st August.
Nervousness about this fork has caused the price to stabilise for some months.

The fork is to enable the new cash bitcoins to transact more quickly. So you can buy a beer with it for example. The new cash bitcoins will use Segwit Technology to speed up clearance.
Segwit is short for segregated witness a process where transactions are verified in smaller blocks (or less users) before full blockchain incorporation later. That's the idea. Some are worrying about orphaned blocks.

The news is that Coinbase the main (man in the street) source of the Cryptocurrency are not taking the fork so investors with their Bitcoin held by Coinbase will be staying with the original Bitcoin software coding.

I foresee an earthquake like move upward in the Bitcoin price soon after the fork.
10 -15 % gains are likely.

Don't go anywhere near these cryptocurrencies unless you have free money to gamble with. You have to assume the whole thing may implode. It won't but assume it may.

I have tried to follow all these threads on 'cryptocurrencies' and it seems loads of posters have detailed knowledge, opinions and something worth saying. It seems to be a combination of the future of exchange and the biggest casino in the world.

To me it is a totally foreign language. No clue and not much interest.

Is it just me, or are there others out there who are also 'out of touch' (to borrow the swipe from the Mercury Music thread - another subject where I am happily ignorant)?

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Originally Posted by jon1959

I have tried to follow all these threads on 'cryptocurrencies' and it seems loads of posters have detailed knowledge, opinions and something worth saying. It seems to be a combination of the future of exchange and the biggest casino in the world.

To me it is a totally foreign language. No clue and not much interest.

Is it just me, or are there others out there who are also 'out of touch' (to borrow the swipe from the Mercury Music thread - another subject where I am happily ignorant)?

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I really tried hard to post in an uncomplicated way about what is happening. I hope it makes sense.
I agree the Mercury music prize shortlist is so ridiculous. Nothing really in there to get excited about. Ed Sheerans career will take off if he wins. Errrr. WTF is the idea of that!

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Originally Posted by jon1959

I have tried to follow all these threads on 'cryptocurrencies' and it seems loads of posters have detailed knowledge, opinions and something worth saying. It seems to be a combination of the future of exchange and the biggest casino in the world.

To me it is a totally foreign language. No clue and not much interest.

Is it just me, or are there others out there who are also 'out of touch' (to borrow the swipe from the Mercury Music thread - another subject where I am happily ignorant)?

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Welcome to my world.

Come on in, leave your Facebook, Apple Music and 4g at the door and take a seat.

I've got a wireless we can listen to or a DVD box set of Father Ted we can watch.

Or if you prefer we can just have a chat about the weather, young people today or listen to the noises we make while getting in and out of a chair.

Keep it to yourself though, I don't want any old riff raff coming in.

Will they be accepted in the Goitre Wharf car parking machine (which does not take the new £1 coins)?

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Originally Posted by AlwaysAway2

The Bitcoin fork is only days away now.
It occurs on 1st August.
Nervousness about this fork has caused the price to stabilise for some months.

The fork is to enable the new cash bitcoins to transact more quickly. So you can buy a beer with it for example. The new cash bitcoins will use Segwit Technology to speed up clearance.
Segwit is short for segregated witness a process where transactions are verified in smaller blocks (or less users) before full blockchain incorporation later. That's the idea. Some are worrying about orphaned blocks.

The news is that Coinbase the main (man in the street) source of the Cryptocurrency are not taking the fork so investors with their Bitcoin held by Coinbase will be staying with the original Bitcoin software coding.

I foresee an earthquake like move upward in the Bitcoin price soon after the fork.
10 -15 % gains are likely.

Don't go anywhere near these cryptocurrencies unless you have free money to gamble with. You have to assume the whole thing may implode. It won't but assume it may.

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I think you meant de-stabilise, right? ... the price of Bitcoin this last month has been particularly volatile, swings of 300GBP in a single day. Bitcoin had dropped to 1,300GBP only a week ago and is currently back up around the 2,100GBP mark.
Uncertainty over the fork and also a large number of ICO's being issued this month (paid for mostly with Bitcoin and then dumped for fiat currency) resulted in Bitcoin price plummeting.

Certainly not for the faint-hearted is cryptocurrency!

I recently bought 6 Ethereum coins and need the price to hit 180GBP just to break even (149GBP as we speak).

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Originally Posted by Rock_Flock_of_Five

I think you meant de-stabilise, right? ... the price of Bitcoin this last month has been particularly volatile, swings of 300GBP in a single day. Bitcoin had dropped to 1,300GBP only a week ago and is currently back up around the 2,100GBP mark.
Uncertainty over the fork and also a large number of ICO's being issued this month (paid for mostly with Bitcoin and then dumped for fiat currency) resulted in Bitcoin price plummeting.

Certainly not for the faint-hearted is cryptocurrency!

I recently bought 6 Ethereum coins and need the price to hit 180GBP just to break even (149GBP as we speak).

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I wouldn't worry about ETH, that will come good if you hold it.

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Originally Posted by Rock_Flock_of_Five

I think you meant de-stabilise, right? ... the price of Bitcoin this last month has been particularly volatile, swings of 300GBP in a single day. Bitcoin had dropped to 1,300GBP only a week ago and is currently back up around the 2,100GBP mark.
Uncertainty over the fork and also a large number of ICO's being issued this month (paid for mostly with Bitcoin and then dumped for fiat currency) resulted in Bitcoin price plummeting.

Certainly not for the faint-hearted is cryptocurrency!

I recently bought 6 Ethereum coins and need the price to hit 180GBP just to break even (149GBP as we speak).

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Chill I have 5 Ether and I need £230 to be level. Mind you I am 6 Grand up on my Bitcoin 😂

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Originally Posted by Colonel Cærdiffi

I wouldn't worry about ETH, that will come good if you hold it.

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Yeah, I have faith in Ethereum in the long run.

However, I think the key to making a real killing in crypto-currencies is to get in early through an ICO. I missed the boat on the recent crowdfund of Tezos.

Anyway, if John McAfee (yes, he of the anti-virus company) is to be believed then I can look forward to a life of leisure in the not too distant future....
https://thebitcoinnews.com/john-mcaf...n-three-years/ :biggrin:

... it doesn't mention it in that article but he also predicts Ethereum will hit $200,000 per coin ... bullish or what!!! :hehe:

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Originally Posted by AlwaysAway2

Chill I have 5 Ether and I need £230 to be level. Mind you I am 6 Grand up on my Bitcoin ��

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You'll be able to buy the City off Tan very soon ......

https://thebitcoinnews.com/john-mcaf...n-three-years/ :hehe:

Thanks for that, can't wait for your next update

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Originally Posted by Rock_Flock_of_Five

You'll be able to buy the City off Tan very soon ......

https://thebitcoinnews.com/john-mcaf...n-three-years/ :hehe:

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If you believe Fox News, then a Bitcoin could be worth $1 billion soon...

...which would put the market value of Bitcoin overall as 205,000 times greater than the entire world's annual GDP.

https://www.cryptocoinsnews.com/fox-...ach-1-billion/

Its roared to a new all-time high today by going up by 15% to above $3,300. It's just over £2,500 right now.

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Originally Posted by Dr Lecter

Welcome to my world.

Come on in, leave your Facebook, Apple Music and 4g at the door and take a seat.

I've got a wireless we can listen to or a DVD box set of Father Ted we can watch.

Or if you prefer we can just have a chat about the weather, young people today or listen to the noises we make while getting in and out of a chair.

Keep it to yourself though, I don't want any old riff raff coming in.

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^^^^^^^^

This.

Money week magazine told its readers to be very careful with crypto currency, I will trust their advice and keep my tenner in sterling 🙏🏽

Bitcoin price is up 25% in the past week. Currently at $4,200 (£3,200) each.

I got in, with some family members, three weeks ago using Hargreave Lansdowne's bitcoin tracker. We invested £3 grand and our investment, when trading in the fund (based in Sweden) opens tomorrow morning, will be worth around £5 grand. We've made (notionally as we aren't selling yet) £2000 in 3 weeks!

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Originally Posted by severncity

I got in, with some family members, three weeks ago using Hargreave Lansdowne's bitcoin tracker. We invested £3 grand and our investment, when trading in the fund (based in Sweden) opens tomorrow morning, will be worth around £5 grand. We've made (notionally as we aren't selling yet) £2000 in 3 weeks!

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Good idea getting in but WTF not have control of the currency yourself.
I really think this is a massive mistake.
For the record I paid £2,801 for another bitcoin on Friday afternoon.
I care not what the price is up or down.
What I do care about is having some bitcoin UNDER MY CONTROL.

Good luck to all who are in this before it explodes.:thumbup:

DYOR....only invest money you can afford to lose.:-)

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Originally Posted by AlwaysAway2

Good idea getting in but WTF not have control of the currency yourself.
I really think this is a massive mistake.
For the record I paid £2,801 for another bitcoin on Friday afternoon.
I care not what the price is up or down.
What I do care about is having some bitcoin UNDER MY CONTROL.

Good luck to all who are in this before it explodes.:thumbup:

DYOR....only invest money you can afford to lose.:-)

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I would buy bitcoin if I could but I haven't had a computer for many, many years and I don't think a bitcoin wallet on my iPad would be as secure as I would want. The family member who is the admin for our investment club is an IT professional and even he's scared of being robbed or hacked. So we decided to go with HL. The price of each share (£142 on Friday) is influenced by the dollar/krona exchange rate as well as the price of bitcoin. I don't know how or to what extent the fund is capitalised but if bitcoin really skyrockets then I could see them paying up and shutting it down. I suppose it's unknown territory for the managers as an asset has rarely, if ever, appreciated in value as rapidly as has bitcoin.

You are very lucky to have got in when you did.

HL are as good as ... if not better ... than any other manager.
Operators like those of this fund WILL get raided if the regulatory authorities believe they have criminal funds invested in their fund.
There is a chance no matter how remote that access to...and heaven forbid real loss to you may result.
Also fund managers charge fees so you ARE paying twice....Once the mangers fees whatever they are AND the mining transaction fee each time they transact on their investors behalf.
A bit coin wallet on any device is secure there as ON any other device.
Your security is as good as your ability to keep your PRIVATE KEY.

If your iPad dies for ever you can recreate your wallet on another device and reaccess your bitcoin.

The bitcoin are NOT in your wallet.
The Bitcoin are in the blockchain transactions. Forever secure.
Your wallet holds the keys to access your unspent bitcoin.

Do not be afraid of your hardware dying.

It is all crypotographic and safe.
DO NOT LOSE OR LET ANYONE GET YOUR PRIVATE KEY.... They can access your money.
Just as HL can access your investment.

What you have done is add a trust element to your savings that bitcoin eliminated.

Good luck!

Does anybody actually use BTC or just invest?

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Originally Posted by OurManFlint II

Does anybody actually use BTC or just invest?

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The chart below shows the price of bitcoin (logarithmic scale on the right hand) as the dark line and the total daily number of trades in bitcoin as bars (green=buy, red=sell) using the left hand scale.

Attachment 1710

This next chart should answer your question. It shows the number of daily transactions made with bitcoin.

Attachment 1711

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Originally Posted by severncity

The chart below shows the price of bitcoin (logarithmic scale on the right hand) as the dark line and the total daily number of trades in bitcoin as bars (green=buy, red=sell) using the left hand scale.

Attachment 1710

This next chart should answer your question. It shows the number of daily transactions made with bitcoin.

Attachment 1711

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lol, sorry should have been more clearer in my question. Do any of you who own BTC in this thread actually use them or you are all in just for a return back to fiat currency?

I've been using BTC for years that's why i ask.

No I don't. I use cash for virtually everything. No direct debits. Just the occasional Amazon order using my credit card and paying my phone bill with my debit card. I gave my family member a big bundle of notes to buy the HL bitcoin shares.

If you are holding bitcoin I'd keep them right now and not spend them.

Problem is when people hoard and don't spend its going to get pretty ugly!