Bitcoin update

[Bluebina]

Re: Bitcoin update

Bitcoin will be the only one, the original!

More and more emerging markets and countries under strict financial governance both from their own and world governments will use it as bitcoin is providing an alternative, decentralized system of finance.

I think i read that 20% of btc peer to peer trading is done from Venezuela, most going to neighbouring countries. As dml1954 mentioned, trying buy fags and cornflakes in that country with the Bolivar Dollar.

You know it works because several governments and large financial institution are trying to close it down.

But surely one of the big tech companies will get involved make it more easily available and do it better, i'm sure they will!

[AlwaysAway2]

Re: Bitcoin update

But surely one of the big tech companies will get involved make it more easily available and do it better, i'm sure they will!

No. No No NO NO.

The original bitcoin works on trust and it is decentralised.

Put another way … NO ONE CONTROLS IT and it exists all over the world continuously updating its own blockchain with all the bitcoins and access to then controlled by wallets of owners. No one can affect it unless the internet is taken down and even then the bitcoin in cold storage are safe.

If any large company like Facebook who answer to the US Government start a coin it will not work. At best it will be a fiat substitute under Government control. A bit like Green shield stamps.

[lardy]

Re: Bitcoin update

No. No No NO NO.

The original bitcoin works on trust and it is decentralised.

Put another way … NO ONE CONTROLS IT and it exists all over the world continuously updating its own blockchain with all the bitcoins and access to then controlled by wallets of owners. No one can affect it unless the internet is taken down and even then the bitcoin in cold storage are safe.

If any large company like Facebook who answer to the US Government start a coin it will not work. At best it will be a fiat substitute under Government control. A bit like Green shield stamps.

Decentralised, no one controls it...hmmm heard that all before in the 90s when the internet was getting started.

[NYCBlue]

Re: Bitcoin update

I watch The Blacklist too.

You do? I gave up after one season. Couldn't stand the woman or her husband and all the fake intrigue.

[Bluebina]

Re: Bitcoin update

No. No No NO NO.

The original bitcoin works on trust and it is decentralised.

Put another way … NO ONE CONTROLS IT and it exists all over the world continuously updating its own blockchain with all the bitcoins and access to then controlled by wallets of owners. No one can affect it unless the internet is taken down and even then the bitcoin in cold storage are safe.

If any large company like Facebook who answer to the US Government start a coin it will not work. At best it will be a fiat substitute under Government control. A bit like Green shield stamps.

I'm not sure Facebook or the others would agree?

Facebook plans to launch 'GlobalCoin' cryptocurrency in 2020

Mark Zuckerberg met the governor of Bank of England last month to discuss the decision.

https://www.theguardian.com/technology/2019/may/24/facebook-plans-to-launch-globalcoin-cryptocurrency-in-2020

It might take a while and lots of potential problems but one of the big tech firms will crack it eventually.

[OurManFlint II]

Re: Bitcoin update

I'm not sure Facebook or the others would agree?

Facebook plans to launch 'GlobalCoin' cryptocurrency in 2020

Mark Zuckerberg met the governor of Bank of England last month to discuss the decision.

https://www.theguardian.com/technology/2019/may/24/facebook-plans-to-launch-globalcoin-cryptocurrency-in-2020

It might take a while and lots of potential problems but one of the big tech firms will crack it eventually.

They can create all they want, i think there are 1600 crypto currencies out in world now, adoption and use is where its at!

At least Facebook don't have to do a KYC on people, they got all they need!

[AlwaysAway2]

Re: Bitcoin update

My original December 2015 stake of £900 is today worth £75,000. Still Hodling.
Any other forum members on board.

[Rock_Flock_of_Five]

Re: Bitcoin update

My original December 2015 stake of £900 is today worth £75,000. Still Hodling.
Any other forum members on board.

I first bought into cryptocurrencies in 2017. My portfolio includes:

PolkaDot
Theta
Cardano
Vechain
Zilliqa
XRP (Yeah, I know but I think it will rocket after the SEC court case!).
XLM

The financial institutions have now accepted that Bitcoin is here to stay and are ploughing millions into it, hence the reason for the explosion in Bitcoin and the top alt coins too.
Forget the old argument of... "I can't buy a packet of cigarettes with it. So it must be useless, surely?"
Most of the better performing top 20 cryptocurrencies have a practical use. Most notably for making international payments much faster than current practices such as SWIFT and as a means of tracking inventory.

Bitcoin is clawing its way into gold's market now, which will mean Bitcoin's market cap will run into trillions.

As of this moment in time Bitcoin is just under 26k - by 2025 it's likely to be worth around 250k.
Bitcoin is now recognised as a store of wealth.

[Rock_Flock_of_Five]

Re: Bitcoin update

I've also invested in 'Unstoppable Domains'. These are websites that are run off the Blockchain and cannot be taken down by any entity. You make a one-time payment and you own the website for life. You can also make cryptocurrency payments to that website direct from any crypto wallet.

Think of the dot-com boom... people are already snapping up Unstoppable Domains now, with a view to making money by selling them to the original name holders (of course, companies in particular) in the future.

[AlwaysAway2]

Re: Bitcoin update

I first bought into cryptocurrencies in 2017. My portfolio includes:

PolkaDot
Theta
Cardano
Vechain
Zilliqa
XRP (Yeah, I know but I think it will rocket after the SEC court case!).
XLM

The financial institutions have now accepted that Bitcoin is here to stay and are ploughing millions into it, hence the reason for the explosion in Bitcoin and the top alt coins too.
Forget the old argument of... "I can't buy a packet of cigarettes with it. So it must be useless, surely?"
Most of the better performing top 20 cryptocurrencies have a practical use. Most notably for making international payments much faster than current practices such as SWIFT and as a means of tracking inventory.

Bitcoin is clawing its way into gold's market now, which will mean Bitcoin's market cap will run into trillions.

As of this moment in time Bitcoin is just under 26k - by 2025 it's likely to be worth around 250k.
Bitcoin is now recognised as a store of wealth.

👍👍👍👍
Agree totally RFoF.
It will remain volatile but if you are in long term and just let it ride I remain convinced it will make you rich.
Even at these mad levels.
My hairdresser bought one tenth of a BTC before Xmas and is 30 per cent up. 👍

[mrbluejay]

Re: Bitcoin update

I've also invested in 'Unstoppable Domains'. These are websites that are run off the Blockchain and cannot be taken down by any entity. You make a one-time payment and you own the website for life. You can also make cryptocurrency payments to that website direct from any crypto wallet.

Think of the dot-com boom... people are already snapping up Unstoppable Domains now, with a view to making money by selling them to the original name holders (of course, companies in particular) in the future.

Where is a good place to learn about crypto / unstoppable domains etc. It's a concept I can't really grasp I have to be honest.

[Rock_Flock_of_Five]

Re: Bitcoin update

Btw:

If anyone is interested in investing in Bitcoin, but you're put off by the high price, you needn't be. You can buy a percentage of a Bitcoin, it's called a Satoshi (just like pence in the pound).
Or you can buy an Alternative coin (alt coin) for just a few pence each and hope that they'll go up in value to a few pounds... after all, that exactly how Bitcoin matured.

[Rock_Flock_of_Five]

Re: Bitcoin update

Where is a good place to learn about crypto / unstoppable domains etc. It's a concept I can't really grasp I have to be honest.

I got most of my knowledge from YouTube to be honest.
A good place to start with buying is 'Coinbase'. They're the biggest cryptocurrency exchange in the world (USA based). Their exchange platform is really simplistic and is ideal for the novice who wants to get into the cryptocurrency market.
You can buy cryptocurrencies on Coinbase using your debit card.
I don't use Coinbase now as their exchange rate isn't the best, but it is the place where most people dip their toes in the cryptocurrency waters.
My one piece of advice if you do decide to buy into cryptocurrencies is to buy yourself a hardware wallet to store your crypto. It's not safe to leave them on an exchange in case the exchange gets hacked - you could lose everything!
I personally use a Ledger Nano S and keep all of my cryptocurrencies on that.
There is a website called "Unstoppable Domains". Again, just go on YouTube and do a bit of research; there are far more knowledgeable people on there than me.

[Woody bloooobird]

Re: Bitcoin update

On the subject on cryptocurrencies if anyone is looking for an interesting new podcast to listen to I recommend ''The Missing Cryptoqueen'':

https://www.bbc.co.uk/programmes/p07nkd84

It's about a women who convinced millions to invest into her new bitcoin ''One Life'', raising billions and then suddenly disappearing into thin air. Turns out it was all a big pyramid scheme, and the podcast is all about trying to track down this women, hearing first hand accounts from people who worked with her, to the tragic stories of people who invested their life savings and lost everything, whilst convincing their friends and family to invest everything too.

Pretty mental listening fair do's.

[AlwaysAway2]

Re: Bitcoin update

To learn I recommend Antonop
Andreas Antonopoulos.
All on his channel.
He's a bitcoin evangelist. Fun to watch and a very smart guy.
He's also written the best book on Bitcoin.
11 years in it is unstoppable. The key is cryptography.