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  1. #1
    Guru peat's Avatar
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    Default Crypto Currencies eg Bitcoin

    I've been following Bitcoin for years and dabbling in some of the alt coins. Its pretty exciting stuff. I guess you'll have heard of it but it is a rich environment beyond what Granny Herald tells you.

    Check out McxNow, where a host of alternative crypto currency coins , most of which you'll never had heard of are traded against BTC 24x7x365. Look at the volumes. And the chatbox (trollbox as its known) is insane.

    https://mcxnow.com/
    Attachment 5495

    I have also been mining with my standard PC using the graphics cards GPU to give me an advantage on generating some alternative coins. Overclocking the CPU and GPU and cooling it a bit made it a little faster... Certainly not economic , just doing it for the hell of it.


    Anyone else keeping up with 21st century trading ?

    Will discuss more if any interest shown.

    And yeh I know Mt Gox is crashing... they're dorks. Not a life threatening event for crypto. (probably heh)
    Last edited by peat; 17-02-2014 at 03:25 PM.
    For clarity, nothing I say is advice....

  2. #2
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    I like the concept, but because of the unsavoury aspects of what bit/lite/dogecoins have been used for, I won't use bitcoins or any other crypto-currency until I can pay my taxes with them. I'll consider it legitimate then.

  3. #3
    Guru peat's Avatar
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    Default

    and normal currency doesn't get used for unsavoury aspects?

  4. #4
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    Quote Originally Posted by peat View Post
    and normal currency doesn't get used for unsavoury aspects?
    as as you know, Uncle Sam will do what ever it takes to protect the dis functional $,

    Just watch out for drone strikes

    had any LPG explosions recently
    '''''''''''''''''''''''
    '''''''''''''''''''''''''''''''''''''''''''''''''' '''''''''''''''''''''''''''''''''''''''''''''''
    http://www.youtube.com/watch?v=QovBLFZhQME

  5. #5
    Guru peat's Avatar
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    I'm not running Silk Road here
    or living in a mansion in Coatesville off the back of aiding and abetting pirates

    the trading buzz is very alive and manifest in the chatboxes tho so its democratized the trading room even further.

    Crypto is definitely disruptive to the status quo and so may bring some **** down on itself

    I have no idea whether its a tulip or not and it doesn't really matter to me - just having some fun . I would never recommend it to anyone else , the risks are too high.
    For clarity, nothing I say is advice....

  6. #6
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    Quote Originally Posted by peat View Post



    I have no idea whether its a tulip or not and it doesn't really matter to me - just having some fun . I would never recommend it to anyone else ,
    In other words.. Your Tu Lips are sealed. :-)))

  7. #7
    Guru peat's Avatar
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  8. #8
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    Default

    Some satire re Mt Gox
    Attached Images Attached Images

  9. #9
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    What's the reason to keep using Bitcoin? Isn't the whole point behind a currency the concept of trust? Losing the biggest exchange is a huge crisis of confidence in Bitcoin. Can't pretend otherwise.

    look, if you have made lots of money in Bitcoin or any other such crypto currency, then good for you. But I just don't see a reason for mass use when it is unregulated and completely lacking in state guarantee. It suffers huge trust issues, on top of the challenges it had before Mt Gox imploded.

  10. #10
    Senior Member warthog's Avatar
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    The reasons to use Bitcoin are many. Just google "why bitcoin" or something similar, grab a cup of tea, put on your slippers and relax into a long read.

    It is obvious from your comments that you don't understand that Bitcoin is the manifestation of the solution of a problem.

    The subject is wide and deep, and concerns currency, political and economic control, technology, free and controlled markets, information, trust and security.

    Just to take one small part of one sub-discussion, "trust" is a notion that has been changed in many ways by technology. Historically, trust involved handshakes, local reputation, etc. Now, trust is quite a different beast. It is possible, for example, to "trust" (or not) somebody you have never met, and will probably never meet, with a huge transaction. Just using technology. With no centralised authority to mediate the trust. Just not possible in the past.

    If you had been keeping an eye on the arbitrage opportunities between the exchanges, and the various discussions surrounding Mt Gox and others, you wouldn't be so surprised to see a technology company fail as they have done.

    Bitcoin and other "currencies" won't go away. The technology genie is out of the bottle.

    If you don't like Bitcoin, don't buy any.

    1990: There's this new-fangled thing, unregulated and like the wild west, called the Internet. Heard of it?
    warthog ... muddy and smelly

  11. #11
    Guru peat's Avatar
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    falkvinge.net/2014/02/28/the-gox-crater-crowd-detectives-reveal-billion-dollar-heist-as-inside-job

  12. #12
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  13. #13
    FEAR n GREED JBmurc's Avatar
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    The old bitcoin has flatlined of late ....has it found it's true value ...or so many other crypto currencies talking of it's shine ..
    People don't have ideas, ideas have people

  14. #14
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    Bump* quite a bit of activity in Crypto currencies over the last few months.

    Last post here 04-05-2015, 08:42 PM

    Price of Bitcoin was $233USD ... if you had invested $10000USD you would have $96695USD today. not a bad return for two years.






    Disc, holding.

  15. #15
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    Quote Originally Posted by TJP View Post
    Bump* quite a bit of activity in Crypto currencies over the last few months.

    Last post here 04-05-2015, 08:42 PM

    Price of Bitcoin was $233USD ... if you had invested $10000USD you would have $96695USD today. not a bad return for two years.






    Disc, holding.
    Check out http://www.sharetrader.co.nz/showthr...ptocurrencies/ there is a much longer discussion

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