bitcoin

[tuum]

Dec 2, 2017 19:34:52 GMT Jimmyg said:

Nov 28, 2017 13:08:31 GMT tuum said:

A friend of mine who was a bit late to the game in 2015 is currently sitting on 600,000 GBP of crypto currency.
He is still looking at ways to turn it into hard cash. He works overseas but is not sure of his tax liability in the UK so he needs to tread carefully.
I believe he may have found a credit card that deals in crypto currency but I can't see how he can spend 600,000 unless he buys a property somewhere.
I think the other guys who made millions cashed in no problem because they were full expats with no ties to the UK.

classed as a currency in uk mate so no tax due here not sure where he's being taxed but it's classed different else where ie asset,commodity etc
can still sell it in country of origin otherwise I'd sell it in uk as he will escape the tax

Thanks. I will let him know. Sounds like he might be worrying unecessarily. Surprised he wouldn't know this as there were a load of them who got into it at the same time based on the advice of the early movers.
They work on site in a remote location and kept their exploits to themselves for a while. I work in HQ so I only got to hear about it when it was too late.
I have signed up to Kraken though and may still give it a blow but the serious money has passed me by unfortunately. I still can't make up my mind whether it is a serious player that is here to stay or just a massive Ponzi scheme. It does seem to be gaining traction within the mainstream business community.
I see it exactly as I would if I place a bet on the horses....only put in what you can afford to lose.

[lawrieleslie]

Being a bit of a technophobe I googled "bitcoins explained". Most lost me after the first sentence, however this little gem, designed for 5year olds apparently, took the biscuit ......



Attachment Deleted

[Jimmyg]

Dec 3, 2017 9:02:59 GMT lawrieleslie said:

Being a bit of a technophobe I googled "bitcoins explained". Most lost me after the first sentence, however this little gem, designed for 5year olds apparently, took the biscuit ......



View Attachment

in very simple terms it's a "true" currency which means it's designed with the fundamentals and characteristics what a currency should have ie rarity,uniformity,divisibility, portability etc.
in comparison most modern fiat currencies are manipulated by governments by the means of "quantitative easing " (money printing )which should in theory decrease the value as it becomes less rare.
as bitcoin cannot be generated with out "proof of work " it acts as a barometer against all other fiat currencies which do not have "proof of work "when they create money through money printing.
"proof of work"in bitcoins case is processing power and energy used by the "miners" in order to verify transactions and generate bitcoin.

[lawrieleslie]

Dec 3, 2017 11:06:43 GMT Jimmyg said:

Dec 3, 2017 9:02:59 GMT lawrieleslie said:

Being a bit of a technophobe I googled "bitcoins explained". Most lost me after the first sentence, however this little gem, designed for 5year olds apparently, took the biscuit ......



View Attachment

in very simple terms it's a "true" currency which means it's designed with the fundamentals and characteristics what a currency should have ie rarity,uniformity,divisibility, portability etc.
in comparison most modern fiat currencies are manipulated by governments by the means of "quantitative easing " (money printing )which should in theory decrease the value as it becomes less rare.
as bitcoin cannot be generated with out "proof of work " it acts as a barometer against all other fiat currencies which do not have "proof of work "when they create money through money printing.
"proof of work"in bitcoins case is processing power and energy used by the "miners" in order to verify transactions and generate bitcoin.

That explains it. Cheers.

[Jimmyg]

Dec 3, 2017 1:46:43 GMT tuum said:

Dec 2, 2017 19:34:52 GMT Jimmyg said:

classed as a currency in uk mate so no tax due here not sure where he's being taxed but it's classed different else where ie asset,commodity etc
can still sell it in country of origin otherwise I'd sell it in uk as he will escape the tax

Thanks. I will let him know. Sounds like he might be worrying unecessarily. Surprised he wouldn't know this as there were a load of them who got into it at the same time based on the advice of the early movers.
They work on site in a remote location and kept their exploits to themselves for a while. I work in HQ so I only got to hear about it when it was too late.
I have signed up to Kraken though and may still give it a blow but the serious money has passed me by unfortunately. I still can't make up my mind whether it is a serious player that is here to stay or just a massive Ponzi scheme. It does seem to be gaining traction within the mainstream business community.
I see it exactly as I would if I place a bet on the horses....only put in what you can afford to lose.

think there's plenty of life left to invest now , can't really give you any definite predictions although I'd say it will probably double in the next year or two and could maybe go up another 700% in the next 10 years. currently the market cap for bitcoin is about $180bn , it's estimated that the world money supply is currently around $300 trillion .
bitcoin will certainly not be the only crypto currency in use in the next 10 years.atm it has around 50% of the total crypto market.
I'd say first of all find out exactly what bitcoin is,its not easy to understand and can take a few weeks of study but once you do you'll have far more confidence in investing in it.

[The Drunken Communist]

Any of you use NiceHash.

[Jimmyg]

price still going up like crazy

1 Bitcoin equals
13106.76 British Pound Sterling

[Deleted]

It's too expensive now which makes it worthless. You can't cash it in !!!!

[Jimmyg]

Dec 12, 2017 11:03:08 GMT @vince said:

It's too expensive now which makes it worthless. You can't cash it in !!!!

?? you can cash in anytime, this is just the start it will be over 20k next year if not more, the sooner you buy the better,it's not going away and has the potential to be a world wide currency so could in theory be worth 1m in the future.

[Deleted]

Dec 14, 2017 11:40:34 GMT Jimmyg said:

Dec 12, 2017 11:03:08 GMT @vince said:

It's too expensive now which makes it worthless. You can't cash it in !!!!

?? you can cash in anytime, this is just the start it will be over 20k next year if not more, the sooner you buy the better,it's not going away and has the potential to be a world wide currency so could in theory be worth 1m in the future.

Very few folk can afford 13k so that alone makes it more dificult to sell.

[GrahamHyde]

How much is it and where do you get it from?

[Jimmyg]

Dec 14, 2017 13:30:45 GMT GrahamHyde said:

How much is it and where do you get it from?

localbitcoins.com

[Jimmyg]

Dec 14, 2017 13:18:59 GMT @vince said:

Dec 14, 2017 11:40:34 GMT Jimmyg said:

?? you can cash in anytime, this is just the start it will be over 20k next year if not more, the sooner you buy the better,it's not going away and has the potential to be a world wide currency so could in theory be worth 1m in the future.

Very few folk can afford 13k so that alone makes it more dificult to sell.

you can buy £10 worth if you want there's no limit to what you can buy in at.
and you can sell instantly on any of the exchanges with out any trouble

[Deleted]

Dec 14, 2017 15:30:16 GMT Jimmyg said:

Dec 14, 2017 13:18:59 GMT @vince said:

Very few folk can afford 13k so that alone makes it more dificult to sell.

you can buy £10 worth if you want there's no limit to what you can buy in at.
and you can sell instantly on any of the exchanges with out any trouble

Ah fair do's.

[overthehills]

Is it all too late to jump on the Bitcoin, litecoin, whatevercoin invisible train?

[Deleted]

Bubbles burst.

[Jimmyg]

Jan 18, 2018 14:07:52 GMT @vince said:

Bubbles burst.

could go down bit more from here but not too much,will bounce back to its former value in next 2 months.
probably was in a bubble looking back and needed a correction ,dont let it put you off its still the no1 crypto currency and the concept of a decentralised currency is not going away.

[tuum]

I was speaking with my mate yesterday. He has handed his notice in at work and leaves in a couple of weeks. He has cashed most of his cryptos in and is retiring. He bought Ethereum in its early days. I reckon he has made 1-2 million out of it.

[Deleted]

Jan 20, 2018 18:04:09 GMT tuum said:

I was speaking with my mate yesterday. He has handed his notice in at work and leaves in a couple of weeks. He has cashed most of his cryptos in and is retiring. He bought Ethereum in its early days. I reckon he has made 1-2 million out of it.

I remember you telling me about that a while ago.
Did you ever get on it...
Hey...We met Alan Hudson on Saturday...Myself, John, Ian and Nick...

[3putts]

Jan 20, 2018 18:04:09 GMT tuum said:

I was speaking with my mate yesterday. He has handed his notice in at work and leaves in a couple of weeks. He has cashed most of his cryptos in and is retiring. He bought Ethereum in its early days. I reckon he has made 1-2 million out of it.

missed ou.t but I still feel its a Ponzi scheme so I'M OUT

[yeokel]

Jan 19, 2018 22:59:02 GMT Jimmyg said:

Jan 18, 2018 14:07:52 GMT @vince said:

Bubbles burst.

could go down bit more from here but not too much,will bounce back to its former value in next 2 months.
probably was in a bubble looking back and needed a correction ,dont let it put you off its still the no1 crypto currency and the concept of a decentralised currency is not going away.

How is your Bitcoin investment going?

I see it's down from about $20k at Christmas, to about $6k now and will undoubtedly keep falling until it disappears.
Did you get out in time?

[zerps]

Jun 11, 2018 13:36:17 GMT yeokel said:

Jan 19, 2018 22:59:02 GMT Jimmyg said:

could go down bit more from here but not too much,will bounce back to its former value in next 2 months.
probably was in a bubble looking back and needed a correction ,dont let it put you off its still the no1 crypto currency and the concept of a decentralised currency is not going away.

How is your Bitcoin investment going?

I see it's down from about $20k at Christmas, to about $6k now and will undoubtedly keep falling until it disappears.
Did you get out in time?

Biggest crypto bear market of all time is about to end. Which always means an even bigger bull market will commence. New all time high in the next three years. Good luck.

[auntiegeorge]

Apr 26, 2019 6:10:05 GMT zerps said:

Jun 11, 2018 13:36:17 GMT yeokel said:

How is your Bitcoin investment going?

I see it's down from about $20k at Christmas, to about $6k now and will undoubtedly keep falling until it disappears.
Did you get out in time?

Biggest crypto bear market of all time is about to end. Which always means an even bigger bull market will commence. New all time high in the next three years. Good luck.

Put your money where your mouth is then.

And be fully mentally prepared for the inevitable losses.

Good luck? You'll need it.

[zerps]

Apr 26, 2019 6:49:49 GMT auntiegeorge said:

Apr 26, 2019 6:10:05 GMT zerps said:

Biggest crypto bear market of all time is about to end. Which always means an even bigger bull market will commence. New all time high in the next three years. Good luck.

Put your money where your mouth is then.

And be fully mentally prepared for the inevitable losses.

Good luck? You'll need it.

I’ve been accumulating for over two years. Thank’s mate.

[auntiegeorge]

Apr 26, 2019 6:53:54 GMT zerps said:

Apr 26, 2019 6:49:49 GMT auntiegeorge said:

Put your money where your mouth is then.

And be fully mentally prepared for the inevitable losses.

Good luck? You'll need it.

I’ve been accumulating for over two years. Thank’s mate.

Are you in profit?

Have you heard of Tron? If you like the idea of a decentralized internet you might want to take a look. Again it's speculative, not an investment....down about 80% since December 2017.

tron.network

[zerps]

Apr 26, 2019 6:59:34 GMT auntiegeorge said:

Apr 26, 2019 6:53:54 GMT zerps said:

I’ve been accumulating for over two years. Thank’s mate.

Are you in profit?

Have you heard of Tron? If you like the idea of a decentralized internet you might want to take a look. Again it's speculative, not an investment....down about 80% since December 2017.

tron.network

When you’re buying dips you’re not in profit until the next bull market. But there always is another bull market so your initial comments are a bit weird. You’ve obviously taken a big loss. I managed to sell my xrp in December 2017 and have been accumulating crypto since. Justin sun loves to announce an announcement but i like the btt project he’s involved in. I’ve also accumulated over 100,000 xrp as I believe in it.

[flea79]

Apr 26, 2019 6:59:34 GMT auntiegeorge said:

Apr 26, 2019 6:53:54 GMT zerps said:

I’ve been accumulating for over two years. Thank’s mate.

Are you in profit?

Have you heard of Tron? If you like the idea of a decentralized internet you might want to take a look. Again it's speculative, not an investment....down about 80% since December 2017.

tron.network

the hell is tron? i am very suspicious of all this block chain stuff etc

[sammys89]

For the first time I heard about cryptocurrency when bitcoin was $200-$300 in the beginning of 2015 but I did not invest in it as that was my first time learning about it. I think I was just like other newbies, who collected it freely through some faucets and giveaways. Then I went into bitcoin mining. I didn't earn alot. Though I believe the chance to make more money through bitcoin is still exist, hold for the next bull run although we do not know when the time will come.

[zerps]

May 2, 2019 11:16:23 GMT sammys89 said:

For the first time I heard about cryptocurrency when bitcoin was $200-$300 in the beginning of 2015 but I did not invest in it as that was my first time learning about it. I think I was just like other newbies, who collected it freely through some faucets and giveaways. Then I went into bitcoin mining. I didn't earn alot. Though I believe the chance to make more money through bitcoin is still exist, hold for the next bull run although we do not know when the time will come.

It’s literally a no brainer. Can crypto die?(large market cap. Main stream coins)No. Will there be another bullrun? 100%.

[chigstoke]

Anybody recommend a currency that is good for mining right now?

Not that I'd be taking it seriously, I'd be mining with a Ryzen 1800x and a RTX 2080, more to gander than anything.