AndCallMeCharlie wrote:

Liveinadive wrote:

If skiing being shit was all over the media and an ongoing current affairs debate. Yeah it would be like that. I prefer snowboarding for the record.

  Fine - say it's the upcoming royal wedding which is going to be given significant mainstream media attention. If there is a B&B thread on the topic with people looking forward to it why would you want to repeatedly post in there telling the enthusiasts they are wrong to spend their money sending them gifts? I am genuinely interested in why people care so much about discrediting crypto to the extent they are giving up their free time to research the matter when they have nothing personally invested in it.

 
I guess that's just because people find it an interesting subject regardless of whether they are pro or anti. That tends to be how these things work.

AndCallMeCharlie wrote:

legaldinho wrote:

So I have been watching bitcoin maximalists for a year now.

A YEAR!!!

So what?
I've been watching (as an example) political news for most of my life, despite thinking most politicians are wankers. I'm happy to talk about that, and debate with people who's views differ to my own.
You're not seriously suggesting that on a forum full of topical debate, we should only have pro views on any subject posted allowed?
You might not agree with a lot of the views in this thread, but you're not covering yourself in glory with your attitude to debate.

Please don’t send the royals any gifts Charlie.

I think what worries me most is if (I will downgrade from when in the interest of balance) the bubble bursts these coins aren't propped up by anything, even the ones that are supposed to be propped up by fiat are doubtful. So they will totally collapse, there is no borrowing from the world bank here, no bailouts from a government, no tax has been squirrelled away as a safety net.

At that point and only at that point will we start to understand how much people have invested in this.
Dino's ton, no stress.
However people who default on mortgages, lose pensions, companies that have put in so much they fold causing unemployment. Bankruptcy and defaulting on loans and taxes. That stuff effects me because it effects the society I am part of. There won't be bail outs but there will be secondary costs to society and if the investment the UK's citizens have made are big enough it can damage us.

Something as big as this doesn't exist in isolation, the bubble can't be in a bubble.

Roujin wrote:

and all the hedge cunts and idiots started putting their money into it and basically turned the whole thing into a giant bubble, which will burst, at which point dickhead traditional banks will say 'ner, told you crypto was shit, just keep giving me, shitty mortgage lending 2008 bailout cunt plc your hard earned money so I can gamble dat shit on the markets my out of touch traders understand'

I was thinking about this earlier today. There is so much press about bitcoin now lots of people are aware of it, they are aware they don't understand it, and they are away people are losing money by investing in it. 

Brief description of bitcoin here from reddit:

Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. Unlike traditional currencies such as dollars, bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. As such, it is more resistant to wild inflation and corrupt banks. With Bitcoin, you can be your own bank.

See, nowhere does that mention buy some shit and sell for a fiat profit (like i did because i'm a selfish bastard.) This whole speculation/investment plays right into the banks hand. Would i be considered a nutjob conspiracy theorist if i suggested it's possible they were genius enough to have a hand in orchestrating this?

Disclaimer: I'm not hugely anti-bank, just found it interesting.

Debate is good, surely nobody thinks all threads*"need to be full of positive views only. I've learned a few things about crypto and tokens and blockchain from this here thread. For example, I'm sceptical about Roujcoin. There. I said it.

*Apart from the Switch thread. Haters keep out. Only nintolove allowed in there.

Aye, posts like that could adversely affect my investment.

g.man wrote:

AndCallMeCharlie wrote:

legaldinho wrote:

So I have been watching bitcoin maximalists for a year now.

A YEAR!!!

So what? I've been watching (as an example) political news for most of my life, despite thinking most politicians are wankers. I'm happy to talk about that, and debate with people who's views differ to my own. You're not seriously suggesting that on a forum full of topical debate, we should only have pro views on any subject posted allowed? You might not agree with a lot of the views in this thread, but you're not covering yourself in glory with your attitude to debate.

 
Happy to have the debate but wtf is my accountant, my own use of crypto or "hilarious fail" comments adding to the macro discussion?  All feels a bit "angry mob" ish imo with some people hodling a big bag of schadenfreude.  
Anyhow, life's too short and "am' oot" (Duncan Bannatyne voice)

monkey wrote:

Please don’t send the royals any gifts Charlie.

Shit just sent them my bitcoins

Plus, I'm still unsure how much it was used to buy drugs and the like from China, and whether it's easy to get around that following their ban.

Escape wrote:

Plus, I'm still unsure how much it was used to buy drugs and the like from China, and whether it's easy to get around that following their ban.

You can buy drugs from loads of places with it.

Yossarian wrote:

You can buy drugs from loads of places with it.

It seems like China's quite the thing these days, though. But then I'm not exactly yoot, am I.

Racist

I've a question and a thought today...

If there are 25m BTC and around 21m have been mined so far, what happens (besides a fall in GPU prices) when all of them have been mined? I mean in terms of the impact on price. It seems to me like an ouroboros, where smalltime investors are steeled by the employ of huge-money farms.

And my thought: there could be another surge before the arse falls out, simply because it's reaching peak Media exposure now. There are still mugs to be had.

It will take another 100+ years to mine them all so who knows.

If I recall of this correctly, investment in farms is immaterial to how long they can keep mining for, new coins are made available every 10 minutes, a bigger farm just means more chance of winning them.