BITCOIN UPDATE

[AlwaysAway2]

I posted this about 7 weeks ago in a thread.

"I tell you what. Let's see what Bitcoin £2,973 and Litecoin £47 are trading at at Xmas."

Well it's mixed news today.
Bitcoin is at £5,400 and going higher for sure.
Litecoin is down at £39

When Bitcoin cools Litecoin will pop up to around £50 minimum.

AJMHO. Only invest money you can afford to lose!

My target for Bitcoin at Xmas is a minimum of £7,000. Litecoin I predict will be over £60.

HODLING.

[AlwaysAway2]

Yes Ethereum is unlimited in total issue. Leave well alone I THINK.
Litecoin is the most exciting coin. Cheap with cryptography just like Bitcoin (but with different mining proof of work) although 4 times as much in issue.
At some point Litecoin will get adopted JUST LIKE BITCOIN and explode.

First coins issued will always be the most valuable I believe.
The forks of the Bitcoin blockchain are fascinating creating new Cryptocurrencies overnight with billions of dollars market cap.
I see the forked coins as dividend income tax free on my Bitcoin.

[OurManFlint II]

I often wondered if Bitcoin and other digital currencies are so good and are the future etc - why are people trying to artificially inflate the price and then convert them into pounds ? , you would have thought they would be buying more bitcoins rather than cashing out back to old money.

What about ethereum, someone mentioned this to me last week , have you dabbled in it ?

Exactly, I've been into BTC since about 2013 and I've never gone the other way. If people just hold them makes no sense to me, I use them to buy things and support good causes, basically I've turned into a philanthropist. I believe in the concept of decentralised currency.

As for all the others, i'd leave alone BTC is king and will stay king.

[welshyoot]

Yes Ethereum is unlimited in total issue. Leave well alone I THINK.
Litecoin is the most exciting coin. Cheap with cryptography just like Bitcoin (but with different mining proof of work) although 4 times as much in issue.
At some point Litecoin will get adopted JUST LIKE BITCOIN and explode.

First coins issued will always be the most valuable I believe.
The forks of the Bitcoin blockchain are fascinating creating new Cryptocurrencies overnight with billions of dollars market cap.
I see the forked coins as dividend income tax free on my Bitcoin.

I really hope this is the case! How likely do you think this is - of course I know nothing's certain - but you seem to be more on it? I bought a few litecoin some years ago and recently bought some eth - I kept off BTC as I kept thinking I'd missed the boat - (I thought that when one was £100... )

I'm currently just holding onto each - I don't have massive amounts of money in either so it's not worrying me, but would you recommend switching the eth to BTC or something else?

[AlwaysAway2]

I can't give advice but I can post this.
After many hours reading and study and watching AA (Andreas Antonopoulos) you tube videos I know what Bitcoin is and understand it about as well as I will ever be able to. (I struggle with Elliptic Curve Math in the cryptography like most people).

Litecoin is so similar to Bitcoin it is also ready for mass acceptance.
At £40 a coin it is relative to Bitcoin a steal.
That said it might never take off. But if Bitcoin continues to rise Litecoin just has to get sucked up along with it.
No timeline from me but I am amazed that Litecoin holds at £40.
I believe many long term Litecoin investors cannot resist offloading at this level to get some dollars. we all would if we had hundreds of coins and there are 60 million of them out there.
Soon the dollar seekers will be sated and then it will get exciting for Litecoin.

Be patient and HODL

[Organ Morgan.]

I have no Bitcoin or any other crypto but am an interested observer. Bits, bytes and the blockchain that backs it along with the computing power required for their creation does lend them some intrinsic value but how much I have no idea. I suspect governments would have crushed faith in cryptos long ago if they viewed them as a threat to their fiat debt-based money Ponzi. That they haven't chosen to makes me suspicious.

[AlwaysAway2]

I have no Bitcoin or any other crypto but am an interested observer. Bits, bytes and the blockchain that backs it along with the computing power required for their creation does lend them some intrinsic value but how much I have no idea. I suspect governments would have crushed faith in cryptos long ago if they viewed them as a threat to their fiat debt-based money Ponzi. That they haven't chosen to makes me suspicious.

As Bill Gates himself has said.....

BITCOIN IS UNSTOPPABLE.

Even if they (The establishment) take the internet down worldwide .... if you store them (your private keys) properly then your bitcoin are safe. Do not leave them on an exchange where you are more than vulnerable to government intervention.
It really is the most magical invention .... and it is an invention that Satoshi could have patented but he chose to give it to the world.

[Organ Morgan.]

I believe governments could kill sentiment in cryptos. The easy way would be to introduce a fantastically high Capital Gains Tax. Bigger sticks would include freezing bank accounts of those who invest in them and placing them on terrorist watchlists following a propaganda campaign which claims cryptos fund ISIS, etc, and the drug trade.

[AlwaysAway2]

I believe governments could kill sentiment in cryptos. The easy way would be to introduce a fantastically high Capital Gains Tax. Bigger sticks would include freezing bank accounts of those who invest in them and placing them on terrorist watchlists following a propaganda campaign which claims cryptos fund ISIS, etc, and the drug trade.

But they do not know you have them. They do not know where they are. They have no control at all.
If they close the exchanges it will be difficult to trade back to fiat currencies but the Bitcoin are safe.
They cannot tax them in my opinion but that does not mean they might not try.

I can move my bitcoin in a millisecond.
They can get me and kill me. But they can do that anyway.
They are freezing bank accounts already...the day when everyone will be seeking to get some bitcoin (Satoshis) is not far off.

[goats]

I posted this about 7 weeks ago in a thread.

"I tell you what. Let's see what Bitcoin £2,973 and Litecoin £47 are trading at at Xmas."

Well it's mixed news today.
Bitcoin is at £5,400 and going higher for sure.
Litecoin is down at £39

When Bitcoin cools Litecoin will pop up to around £50 minimum.

AJMHO. Only invest money you can afford to lose!

My target for Bitcoin at Xmas is a minimum of £7,000. Litecoin I predict will be over £60.

HODLING.

Can you explain to me how to invest in bit coin, I want to but be arsed if I can work out what to do.....

[AlwaysAway2]

Download Coinbase on ios or android
Scan you passport to them using the app
Enter your credit card details or bank details.
They are an American exchange.
Initially they restricyt yopur puchases to an amount each week on a credit card.
i bought at £325 a week initially but can now buy £500.

Once you have bought the Cryptocurrency move it away from coinbase to your own private wallet.

Make certain you know how the wallet works,

Don't invest more than you can afford to lose.

Find someone who knows what they are doing and get them to help you.

DO NOT LET THEM SEE YOUR PRIVATE KEY!

[James fox]

I will take a read of the threads though - as I am a very interested observer in this - and may take a punt - but usually bu the time people start talking about it - it's too late

Everyone has said that about Bitcoin for Years.

[blue matt]

Everyone has said that about Bitcoin for Years.

every 3 months or less, it still keeps on moving on up, who knows what it will end ? ? ?

[Organ Morgan.]

People making money and fast buck Freddy types are all well and good - and if you cash out and make money even better.

BUT - I would be warn anyone against getting to stuck into this because the currency is underwritten by nobody. The Pound is protected and guaranteed by the Bank of England who have powers the control the currency etc.

Bitcoin and the rest of them is just a digital algorithm that is just as susceptible to being hacked as any other digital based system. And eventually - hacked it will be. Everyone thought SSL was 100% safe - it wasnt.

Everyone thought wifi was safe - last week it was proven that it can be easily hacked - just like anyother digital based system. So invest , have some fun , try and spook the market etc - but dont bet the house on it.

I know someone who "mines" this Ethereum - and is convinced he will make 100,000 of pounds when he cashes out. To me it seems like a massive ponzi scheme.

I will take a read of the threads though - as I am a very interested observer in this - and may take a punt - but usually bu the time people start talking about it - it's too late

Yeah, that fills me with confidence. The pound has lost 97.4% of its purchasing power since 1917. Same goes for the US dollar. They and the rest of them will go to 0.00%. But when?

Quality-Street-1-617x330.jpg

[Wales-Bales]

Can you explain to me how to invest in bit coin, I want to but be arsed if I can work out what to do.....

Yes, I want to order one of these money trees too.

[Rocco Siffredi]

Can I have a Brit coin , sounds much more patriotic

[Wales-Bales]

Can I have a Brit con , sounds much more patriotic

FYP

[Organ Morgan.]

These national currencies have a dual role - a means of exchange and store of value. They fail miserably as a store of value thanks to inflation. Most Britons have become considerably poorer with below inflation wage and benefit rises while the top couple of percent have made out like bandits. Many homeowners believe they are net winners thanks to the increasing cost of houses, but property prices is the biggest of all the financial bubbles and when it pops there'll be panic in every UK street.

[Organ Morgan.]

Crikey, Bitcoin's climbed above $7,000 (£5,400) for the first time.

[Wales-Bales]

These national currencies have a dual role - a means of exchange and store of value. They fail miserably as a store of value thanks to inflation. Most Britons have become considerably poorer with below inflation wage and benefit rises while the top couple of percent have made out like bandits. Many homeowners believe they are net winners thanks to the increasing cost of houses, but property prices is the biggest of all the financial bubbles and when it pops there'll be panic in every UK street.

Panic on the streets of Carlisle, Dublin, Dundee, Humberside?

[Rocco Siffredi]

This thread is gripping my shit , anyone fancy dipping in for a gamble , we can use Always Away as our mentor . It looks like shit or bust and I would chuck a few hundred in for a giggle. Just need to make sure he is okay or we will set the dogs on him

[Organ Morgan.]

AlwaysAway2 was living in a Tremorfa council property smoking roll-ups when he first begun purchasing Bitcoin two years ago at a tenner apiece. Now he's cravat wearing resident of Jersey puffing on Havana cigars.

[OurManFlint II]

Those that hold for investment miss the point and constantly pegging it to USD/EUR/GBP makes no sense to me.

Anthropologist David Graeber book- Debt the first 5000 years. Its very interesting (sometimes over academic in parts) to help understand the myths of currency.

[AlwaysAway2]

I posted this about 7 weeks ago in a thread.

"I tell you what. Let's see what Bitcoin £2,973 and Litecoin £47 are trading at at Xmas."

Well it's mixed news today.
Bitcoin is at £5,400 and going higher for sure.
Litecoin is down at £39

When Bitcoin cools Litecoin will pop up to around £50 minimum.

AJMHO. Only invest money you can afford to lose!

My target for Bitcoin at Xmas is a minimum of £7,000. Litecoin I predict will be over £60.

HODLING.

Just looked at my portfolio
I see BTC is at £8,200 and Litecoin at £75
My predictions above are looking WAY too prudent.
These cryptocurrencies will likely double next year at a minimum. Read that again. If they do it will be a terrible year for them!
Most people condemning crypto have no real detailed knowledge of what open source computer code is behind the blockchain they understand the cryptography even less. SO IGNORE THEM.
It is not an anonymous currency as every single transaction can be tracked by anyone. FACT.
Get a few hundred pounds worth and join the fun.
Do not invest any money you cannot afford to lose.

[Vindec]

Remember you haven't made anything on BITCOIN until you sell. At over $10000 I would take profits before the bubble bursts. I certainly wouldn't buy at these prices.