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Utopia Talk / Politics / Bitcoins
kilo
Member
Mon Dec 04 22:29:55
Is this really something to invest in? I've seen a lot of speculation on this currency.
Hrothgar
Member
Mon Dec 04 23:27:10
Well that's the thing... it's utter speculation. There is no real use for it, at least not on the scale it's worth at this point.

BUT, it has beat the odds for years now imo. So who the F knows. The speculation train could just keep running to 100k for all I know.

I think 99% of current crypto currencies including bitcoin will collapse into nothing one of these days. The ones that will still be around are the ones that have some kind of real world use to existing monetary establishments instead of being an alternative to them.

The technology behind all these coins is quite useful potentially. Preventing fraud and ironclad verification of 'things' across a lot of potential avenues.

But I just don't see how the current block chain coin craze happening now is of any real use outside of a small handful of coins - not including bitcoin or any of it's split off bastard children. The bitcoin design is just too slow and cumbersome when used on a mass scale approaching how we use fiat currencies.
kilo
Member
Tue Dec 05 10:08:49
Well I've started investing here and there. There are claims that people have become millionaires from being early adopters back in 2009-2010.
Daemon
Member
Tue Dec 05 15:22:06
http://www...n-laszlo-hanyecz-a8091371.html

A British man says he accidentally threw away over $80 million worth of bitcoin.

James Howells, an IT worker from Newport, claims to have unintentionally dumped 7,500 bitcoin in mid-2013.

He is now planning to find them, but isn’t sure how, as he believes the hard drive he saved them to is currently buried in a landfill site.
[...]
Nimatzo
iChihuaha
Tue Dec 05 15:34:28
Haha I remember that guy from when his BTC were only worth 200-300k pounds.
Forwyn
Member
Tue Dec 05 15:52:24
Will you pull out before the bubble pops? Who knows?
Daemon
Member
Wed Dec 06 12:59:38
http://ars...-energy-consumption-explained/

The skyrocketing value of Bitcoin is leading to soaring energy consumption. According to one widely cited website that tracks the subject, the Bitcoin network is consuming power at an annual rate of 32TWh—about as much as Denmark. By the site's calculations, each Bitcoin transaction consumes 250kWh, enough to power homes for nine days.
[...]
The Children
Member
Wed Dec 06 13:17:44
how do i mine this shit.

Hot Rod
Revved Up
Wed Dec 06 13:24:34

Stands to reason someone will lose their ass eventually.

A better bet would be put your money into silver. It is very reasonable right now and while it may never go to 100K, if you play it right you should be able to double your money.

And one investor is saying it could even go to 200 an ounce. Though personally, I think that is a stretch.



State Department
Member
Wed Dec 06 13:25:08
Build a time machine and buy bitcoins for pennies.
Hot Rod
Revved Up
Wed Dec 06 13:31:53

If only...

murder
Member
Wed Dec 06 15:14:31

No need for a time machine. Just wait awhile.

Arab
Member
Thu Dec 07 16:15:12
Stopped following bitcoin for a while.

Just logged into some of my old accounts, apparently I had a few bitcoins just laying around all these years that I had totally forgotten about (bought them late 2015).

Pleasantly suprised.
Daemon
Member
Thu Dec 07 23:02:45
http://www.bbc.com/news/technology-42264622

Online game service Steam has stopped accepting payments made with the Bitcoin virtual currency.

In a statement, development studio Valve, which runs Steam, said "high fees and volatility" had driven it to stop accepting them.

It said that fees to process Bitcoin payments had "skyrocketed" in 2017, making the virtual currency much less attractive as an option.
[...]
Kilo
Member
Sat Dec 09 18:41:47
Litecoin perhaps
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