anybody found any Bitcoins lol

[retired_member32]

http://www.bbc.co.uk/news/uk-wales-south-east-wales-25134289

 

[donton]

http://www.bbc.co.uk/news/uk-wales-south-east-wales-25134289

That story reminds me of being a five year old kid in primary school. One of my friends won £100,000 on some competition where you had to find palm trees on the inside of your Kit Kat label.

In his delight at winning the £100,000 he tore off the back of the label and gave it to someone else in the playground. Kit Kat refused to pay out the £100,000 because the label wasn't intact. His Dad spent weeks climbing through the school's industrial bins trying to find the back of this label but never found it.

OK, not bit coin related but another story of someone losing potentially a lot of money!

 

[DaveP]

Sorry no need for my sob story lol.

 

[foz]

http://en.wikipedia.org/wiki/Tulip_mania

 

[websaway]

That story reminds me of being a five year old kid in primary school. One of my friends won £100,000 on some competition where you had to find palm trees on the inside of your Kit Kat label.

In his delight at winning the £100,000 he tore off the back of the label and gave it to someone else in the playground. Kit Kat refused to pay out the £100,000 because the label wasn't intact. His Dad spent weeks climbing through the school's industrial bins trying to find the back of this label but never found it.

OK, not bit coin related but another story of someone losing potentially a lot of money!

I wonder if that lottery ticket was claimed by 11 last night, it was for 12,000,000

 

[WalkinDude]

£4million apparently. Dunno how he's been sleeping at night tbh.

 

[Admin]

I started buying Bitcoin when they were £45 but got talked out of it as they were too volatile, so I only have a couple. Now they are £717 each

Litecoin is a cheaper alternative but rising fast, they were a coupel of quid each earlier this year, now heading for £50.

Please use my aff link if you want to buy some..

Admin

 

[WalkinDude]

at nearly a grand a piece no wonder markets are opening up for new coins with lower unit price. interesting.

 

[tifosi]

but what happens when there's as many virtual currencies as there will be gTLD's. Is there any limitation on creating one as there is with 'real' currencies?

 

[Retired_Member39]

Hmm i'm tempted to stick £50 on an alternative to Bitcoin and Litcoin. I dont have a clue which one yet . This was in the Guardian today:

http://www.theguardian.com/technology/2013/nov/28/bitcoin-alternatives-future-currency-investments

Quite a few comments as well.

 

[bulkcorn]

anybody found any Bitcoins lol

Yeah ...... in my backyard :lol: buried 20 feet deep ........ get your metal detector out! :lol:

 

[disruptive]

Its all one great big bubble. We mined this back in 2011, but got pretty bored. I've also lost the damn keys cos back then BTC's were worth just a fraction of a $. I see the pump and dump tactic being applied to bitcoin when there is:

a) No commodity behind this "asset".
b) It has wild price swings - which means its tricky for retail to accept.
c) Very limited supply.
d) Other coins on the market perhaps with even better tech.
e) People are clearly speculating - who would spend at today's prices when we might be on the cusp of another upwards breakout.

It's bubble and when the price swings too wildly there will be wild selling as early adopters with masses of coins will be tempted to cash out in case its the big crash. Think about what happens if regulations come in or a couple of large sellers pop up?

 

[WalkinDude]

but what happens when there's as many virtual currencies as there will be gTLD's. Is there any limitation on creating one as there is with 'real' currencies?

According to my understanding anyone can create any currency anytime they like. Virtual or non virtual. Success is often less about starting something than it is about being able to maintain something once you've started it.

 

[WalkinDude]

In fact Admin should start the AcornCoin. 1 Acorn coin is equal to one reg fee domain name and your allocation should be based on your number of posts via some function. Thus is you got a pile of domains you just dying to get rid of, and no one wants to pay physical cash they should be able to pay you in AcornCoin.


Admin?

 

[WalkinDude]

Sorry can't resist, and if say there's a 'acornomic recession' admin could engage in a bit of 'quantitative easing'....


i'll get my coat now.

 

[disruptive]

If you go and look at the south sea bubble or tulip mania, you'll see the same thing.

The thing that grabs me is that there is just not enough opinion on the downside.

 

[ClassicalGuitar]

Interesting article in the Guardian.

I noticed they mentioned Quarkcoin, I have some, and I've noticed the transaction speeds and confirmations are MUCH faster than Litecoin or Bitcoin.

 

[disruptive]

I think the whole point of these 54 or so alternative currencies proves the issues with the virtual currencies in that ideally there should only be one universal currency that can be translated to "real" currencies. Otherwise we may as well as stay with the current system.

We do need a frictionless way of transfer capital around. But Bitcoin is far from it. Nice novel idea that is well timed, but its not going to take over the security of having an intermediary such as PayPal.