Is the Bitcoin bubble going to burst (soon)?
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They say (in Hebrew) that prophecy was given to small children, deaf-mutes, and madmen. In which category do you place CPians? :)
If you have an important point to make, don't try to be subtle or clever. Use a pile driver. Hit the point once. Then come back and hit it again. Then hit it a third time - a tremendous whack. --Winston Churchill
Daniel Pfeffer wrote:
They say (in Hebrew) that prophecy was given to small children, deaf-mutes, and madmen. In which category do you place CPians? :)
small children, love to fight and usually deliver nonsense. (deaf mutes are just dumb bad listeners and madmen are in fact logical in their own way.)
Sin tack the any key okay
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Quite. So many people banging on about nonsense like this...we need VPNs so the government can't track what we do, we need WhatsApp so the government can't snoop on us, we need Bitcoin so the greedy bank fat cats don't control our money. The only actual use for all of these things are terrorism and criminal activities....news flash, the government couldn't care less what non-consequential nonsense you're talking to your irrelevant friends.
F-ES Sitecore wrote:
the government couldn't care less what non-consequential nonsense you're talking to your irrelevant friends
Not so sure about that.. [Europe’s Freedom of Speech Fail | Foreign Policy](http://foreignpolicy.com/2016/07/07/europes-freedom-of-speech-fail/) [EU states approve plans to make social media firms tackle hate speech| Reuters](http://uk.reuters.com/article/us-eu-hatespeech-socialmedia-idUKKBN18J25C) When I see terms like "hate speech" and "social cohesion" I get worried.. sounds an awful lot like excuses for "censorship" to me.
Now is it bad enough that you let somebody else kick your butts without you trying to do it to each other? Now if we're all talking about the same man, and I think we are... it appears he's got a rather growing collection of our bikes.
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I have been watching with interest over the last week at the continuing rise in Bitcoin and other leading digital currencies. It was only a few days ago that it had crossed the 2000 usd mark, and today has seen continued rise and is currently sitting around the $2700 and basically double where it was on a few weeks ago. Of course there is also a lot of interest in Ethereum, Litecoin and Ripple, the later I had never heard of until only a couple of days ago. I remember I had mined some Dogecoin back in 2014, and it has sat in a backed up wallet, back then it was worth 25 USD and now is apparently valued at 340 or something like that. When you start digging around and looking at various financial analysts making statements of 10K USD by the end of the year, to 1M USD in the next 5 years once the currency stabilises, which have to wonder if this is all going to end in tears. Hindsight is a wonderful thing, but when I think back to when I contemplated buying at 600usd, and then again at 1300usd...is it time to take a punt or not! Anybody here been stashing and forgot about them? Or anyone else following what's going on?
Dave Find Me On:Web|Youtube|Facebook|Twitter|LinkedIn Folding Stats: Team CodeProject
When looking into investments and trying to grow my wallet, I always take the stance of risk vs reward. I learned on Eve Online "Only fly what you can afford to lose." Invest what you can afford to lose; that way, if you win, you win big, but if you lose, you just suffer a "little" regret and nothing more.
When you are dead, you won't even know that you are dead. It's a pain only felt by others. Same thing when you are stupid.
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I have been watching with interest over the last week at the continuing rise in Bitcoin and other leading digital currencies. It was only a few days ago that it had crossed the 2000 usd mark, and today has seen continued rise and is currently sitting around the $2700 and basically double where it was on a few weeks ago. Of course there is also a lot of interest in Ethereum, Litecoin and Ripple, the later I had never heard of until only a couple of days ago. I remember I had mined some Dogecoin back in 2014, and it has sat in a backed up wallet, back then it was worth 25 USD and now is apparently valued at 340 or something like that. When you start digging around and looking at various financial analysts making statements of 10K USD by the end of the year, to 1M USD in the next 5 years once the currency stabilises, which have to wonder if this is all going to end in tears. Hindsight is a wonderful thing, but when I think back to when I contemplated buying at 600usd, and then again at 1300usd...is it time to take a punt or not! Anybody here been stashing and forgot about them? Or anyone else following what's going on?
Dave Find Me On:Web|Youtube|Facebook|Twitter|LinkedIn Folding Stats: Team CodeProject
Yes. And all I want to know in life right now is how to short the damn thing. :cool:
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F-ES Sitecore wrote:
the government couldn't care less what non-consequential nonsense you're talking to your irrelevant friends
Not so sure about that.. [Europe’s Freedom of Speech Fail | Foreign Policy](http://foreignpolicy.com/2016/07/07/europes-freedom-of-speech-fail/) [EU states approve plans to make social media firms tackle hate speech| Reuters](http://uk.reuters.com/article/us-eu-hatespeech-socialmedia-idUKKBN18J25C) When I see terms like "hate speech" and "social cohesion" I get worried.. sounds an awful lot like excuses for "censorship" to me.
Now is it bad enough that you let somebody else kick your butts without you trying to do it to each other? Now if we're all talking about the same man, and I think we are... it appears he's got a rather growing collection of our bikes.
Those laws only apply to nasty things you say to celebrities on Twitter, so pretty niche market.
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Those laws only apply to nasty things you say to celebrities on Twitter, so pretty niche market.
It's being extended out to all social media.. And who gets to decide what's nasty? Is this a crackdown on people expressing their concerns and/or disapproval of the EU, mass migration, multiculturalism, terrorism, etc? I remember how the media tried to cover up the Cologne New Year attacks and how the media were complicit in covering up the events of Rotherham.. dangerous times. :( [Censorship of Facebook - Wikipedia](https://en.wikipedia.org/wiki/Censorship\_of\_Facebook#Germany)
Quote:
In 2015, during the refugee crisis with large numbers of immigrants entering the country unregulated, a broad discussion about the problems of mass immigration and politics of the actual government took place in social media. In this situation a campaign was started to force Facebook to erase right wing hate speech. Early in 2016, a Bertelsmann company called "Arvato" was mandated to erase comments and contents from Facebook.[15] Rules and procedure for that censorship, as well as the juridical base is not clear at the moment (January 2016).
Now is it bad enough that you let somebody else kick your butts without you trying to do it to each other? Now if we're all talking about the same man, and I think we are... it appears he's got a rather growing collection of our bikes.
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Yes. And all I want to know in life right now is how to short the damn thing. :cool:
fx trading allows for that, and with margin trading so you only need to put a small amount down - but margin trading not for the faint hearted - even small moves are amplified by the margin percentage. I occasionally dabble in fx trading through oanda, (can set up a demo account and 'practice' trade on real data - stops any chance to cheat as opposed to using historical data.) They have a few trading platform variants including online, metatrade, mobile apps and even api's so it's even possible to write your own platform.
Sin tack the any key okay
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It's being extended out to all social media.. And who gets to decide what's nasty? Is this a crackdown on people expressing their concerns and/or disapproval of the EU, mass migration, multiculturalism, terrorism, etc? I remember how the media tried to cover up the Cologne New Year attacks and how the media were complicit in covering up the events of Rotherham.. dangerous times. :( [Censorship of Facebook - Wikipedia](https://en.wikipedia.org/wiki/Censorship\_of\_Facebook#Germany)
Quote:
In 2015, during the refugee crisis with large numbers of immigrants entering the country unregulated, a broad discussion about the problems of mass immigration and politics of the actual government took place in social media. In this situation a campaign was started to force Facebook to erase right wing hate speech. Early in 2016, a Bertelsmann company called "Arvato" was mandated to erase comments and contents from Facebook.[15] Rules and procedure for that censorship, as well as the juridical base is not clear at the moment (January 2016).
Now is it bad enough that you let somebody else kick your butts without you trying to do it to each other? Now if we're all talking about the same man, and I think we are... it appears he's got a rather growing collection of our bikes.
I was being facetious :) I’ve noted that the only time you ever see these laws enforced or the only time they make the headlines is when someone has called Katy Price fat or suggested Prince William was bald.
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I was being facetious :) I’ve noted that the only time you ever see these laws enforced or the only time they make the headlines is when someone has called Katy Price fat or suggested Prince William was bald.
F-ES Sitecore wrote:
I was being facetious :)
I get that, but with what's been going on across Europe recently I think this is something we should be very concerned about.
F-ES Sitecore wrote:
the only time you ever see these laws enforced or the only time they make the headlines is when someone has called Katy Price fat or suggested Prince William was bald
It's being used a lot more that - social media sites are busy taking down content you're not allowed to see on a near-constant basis.
Now is it bad enough that you let somebody else kick your butts without you trying to do it to each other? Now if we're all talking about the same man, and I think we are... it appears he's got a rather growing collection of our bikes.
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W∴ Balboos wrote:
1 - Online Extortion relies heavily on this type of currency. They'd suddenly be broke.
Because ransomware did not exist before the introduction of the BitCoin?
W∴ Balboos wrote:
2 - If they did extortion with real currency it could be traced and we could boil them in oil.
No, thanks to banks a lot of electronic fiat cannot be traced. Which reminds me, I got a donation to your name in the value of a million dollar. You just need to transfer 3000 dollar in administration fees :)
W∴ Balboos wrote:
3 - If they cashed in their bitcoin, the appearance of real money would be traceable (and taxable).
There's nothing to cash in - BC is cash*. -- *) for the given context.
Bastard Programmer from Hell :suss: If you can't read my code, try converting it here[^][](X-Clacks-Overhead: GNU Terry Pratchett)
Eddy Vluggen wrote:
You just need to transfer 3000 dollar in administration fees :)
So you are the prince from Zamunda Nigeria?
The language is JavaScript. that of Mordor, which I will not utter here
This is Javascript. If you put big wheels and a racing stripe on a golf cart, it's still a fucking golf cart.
"I don't know, extraterrestrial?" "You mean like from space?" "No, from Canada." If software development were a circus, we would all be the clowns. -
Eddy Vluggen wrote:
You just need to transfer 3000 dollar in administration fees :)
So you are the prince from Zamunda Nigeria?
The language is JavaScript. that of Mordor, which I will not utter here
This is Javascript. If you put big wheels and a racing stripe on a golf cart, it's still a fucking golf cart.
"I don't know, extraterrestrial?" "You mean like from space?" "No, from Canada." If software development were a circus, we would all be the clowns. -
I have been watching with interest over the last week at the continuing rise in Bitcoin and other leading digital currencies. It was only a few days ago that it had crossed the 2000 usd mark, and today has seen continued rise and is currently sitting around the $2700 and basically double where it was on a few weeks ago. Of course there is also a lot of interest in Ethereum, Litecoin and Ripple, the later I had never heard of until only a couple of days ago. I remember I had mined some Dogecoin back in 2014, and it has sat in a backed up wallet, back then it was worth 25 USD and now is apparently valued at 340 or something like that. When you start digging around and looking at various financial analysts making statements of 10K USD by the end of the year, to 1M USD in the next 5 years once the currency stabilises, which have to wonder if this is all going to end in tears. Hindsight is a wonderful thing, but when I think back to when I contemplated buying at 600usd, and then again at 1300usd...is it time to take a punt or not! Anybody here been stashing and forgot about them? Or anyone else following what's going on?
Dave Find Me On:Web|Youtube|Facebook|Twitter|LinkedIn Folding Stats: Team CodeProject
Who knows. But more interesting is the whole concept of block chains and digital transactions, not just for currency, but for any kind of contractual arrangement. At the end of the day, it'll be the lawyers, as usual, that win. ;) Marc
Latest Article - Create a Dockerized Python Fiddle Web App Learning to code with python is like learning to swim with those little arm floaties. It gives you undeserved confidence and will eventually drown you. - DangerBunny Artificial intelligence is the only remedy for natural stupidity. - CDP1802
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Who knows. But more interesting is the whole concept of block chains and digital transactions, not just for currency, but for any kind of contractual arrangement. At the end of the day, it'll be the lawyers, as usual, that win. ;) Marc
Latest Article - Create a Dockerized Python Fiddle Web App Learning to code with python is like learning to swim with those little arm floaties. It gives you undeserved confidence and will eventually drown you. - DangerBunny Artificial intelligence is the only remedy for natural stupidity. - CDP1802
The technology behind them is really interesting. Blockchain is relatively simple concept to grasp once I looked at a few of the explanation videos and articles when it first came on the scene. However, I'm still trying to understand the technology underpinning Ethereum which is based on "Smart Contracts" and haven't got a clue about the new kid on the block which is causing a stir "Ripple".
Dave Find Me On:Web|Youtube|Facebook|Twitter|LinkedIn Folding Stats: Team CodeProject
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Who knows. But more interesting is the whole concept of block chains and digital transactions, not just for currency, but for any kind of contractual arrangement. At the end of the day, it'll be the lawyers, as usual, that win. ;) Marc
Latest Article - Create a Dockerized Python Fiddle Web App Learning to code with python is like learning to swim with those little arm floaties. It gives you undeserved confidence and will eventually drown you. - DangerBunny Artificial intelligence is the only remedy for natural stupidity. - CDP1802
blockchain is interesting but also the biggest problem with bitcoin. Its present size is a few gigabytes, when only a few people use bitcoins for transactions. Imagine where will that size grow if it was used daily by millions of people... infeasible! so I don't think there's any future in bitcoin, and it's just a classic bubble a friend of mine was trying to convince me into buying bitcoins last Christmas, when the price was under $1000. On what reasonable grounds did it double in size in half a year other than speculation?
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W∴ Balboos wrote:
1 - Online Extortion relies heavily on this type of currency. They'd suddenly be broke.
Because ransomware did not exist before the introduction of the BitCoin?
W∴ Balboos wrote:
2 - If they did extortion with real currency it could be traced and we could boil them in oil.
No, thanks to banks a lot of electronic fiat cannot be traced. Which reminds me, I got a donation to your name in the value of a million dollar. You just need to transfer 3000 dollar in administration fees :)
W∴ Balboos wrote:
3 - If they cashed in their bitcoin, the appearance of real money would be traceable (and taxable).
There's nothing to cash in - BC is cash*. -- *) for the given context.
Bastard Programmer from Hell :suss: If you can't read my code, try converting it here[^][](X-Clacks-Overhead: GNU Terry Pratchett)
I mostly agree with you, but BC made it a whole lot safer and easier to cash in the ransom. I also saw a case where real life kidnappers wanted BC as ransom payment. It makes the job of authorities a lot harder and for the criminals a lot easier. If you think about putting safety measures to prevent someone entering your home, it won't really prevent it, but heck, it may just make the guy look somewhere easier.
To alcohol! The cause of, and solution to, all of life's problems - Homer Simpson ---- Our heads are round so our thoughts can change direction - Francis Picabia
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I mostly agree with you, but BC made it a whole lot safer and easier to cash in the ransom. I also saw a case where real life kidnappers wanted BC as ransom payment. It makes the job of authorities a lot harder and for the criminals a lot easier. If you think about putting safety measures to prevent someone entering your home, it won't really prevent it, but heck, it may just make the guy look somewhere easier.
To alcohol! The cause of, and solution to, all of life's problems - Homer Simpson ---- Our heads are round so our thoughts can change direction - Francis Picabia
Fabio Franco wrote:
I also saw a case where real life kidnappers wanted BC as ransom payment. It makes the job of authorities a lot harder and for the criminals a lot easier.
The currency that is most used (globally) for illegal transactions is the American Dollar. :)
Bastard Programmer from Hell :suss: If you can't read my code, try converting it here[^][](X-Clacks-Overhead: GNU Terry Pratchett)
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Fabio Franco wrote:
I also saw a case where real life kidnappers wanted BC as ransom payment. It makes the job of authorities a lot harder and for the criminals a lot easier.
The currency that is most used (globally) for illegal transactions is the American Dollar. :)
Bastard Programmer from Hell :suss: If you can't read my code, try converting it here[^][](X-Clacks-Overhead: GNU Terry Pratchett)
Eddy Vluggen wrote:
The currency that is most used (globally) for illegal transactions is the American Dollar.
I know. It's because it's the most accepted currency worldwide too.
To alcohol! The cause of, and solution to, all of life's problems - Homer Simpson ---- Our heads are round so our thoughts can change direction - Francis Picabia
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blockchain is interesting but also the biggest problem with bitcoin. Its present size is a few gigabytes, when only a few people use bitcoins for transactions. Imagine where will that size grow if it was used daily by millions of people... infeasible! so I don't think there's any future in bitcoin, and it's just a classic bubble a friend of mine was trying to convince me into buying bitcoins last Christmas, when the price was under $1000. On what reasonable grounds did it double in size in half a year other than speculation?
umeca74 wrote:
On what reasonable grounds did it double in size in half a year other than speculation?
Increased demand and larger acceptance-base, as reported by multiple financial institutions. Since April, the BC is a legal form of payment in Japan.
umeca74 wrote:
so I don't think there's any future in bitcoin, and it's just a classic bubble
I doubt you'd recognize a bubble if you were in one; most Americans don't have gold or bitcoins, but (tech)stocks, student-loans and their own house. I do not see the demand for housing grow, and the large tech companies are struggling to be profitable :)
umeca74 wrote:
when only a few people use bitcoins for transactions.
It is no longer "a few people". Please explain how the CURRENT situation is infeasible?
Bastard Programmer from Hell :suss: If you can't read my code, try converting it here[^][](X-Clacks-Overhead: GNU Terry Pratchett)
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Eddy Vluggen wrote:
The currency that is most used (globally) for illegal transactions is the American Dollar.
I know. It's because it's the most accepted currency worldwide too.
To alcohol! The cause of, and solution to, all of life's problems - Homer Simpson ---- Our heads are round so our thoughts can change direction - Francis Picabia
Where BC is painted to be used by criminals and people who evade taxes. Again, most of that is in dollars. BC is beyond state-control, and most countries do not like that idea. Which must mean that it is the best invention since sliced bread.
Bastard Programmer from Hell :suss: If you can't read my code, try converting it here[^][](X-Clacks-Overhead: GNU Terry Pratchett)
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Where BC is painted to be used by criminals and people who evade taxes. Again, most of that is in dollars. BC is beyond state-control, and most countries do not like that idea. Which must mean that it is the best invention since sliced bread.
Bastard Programmer from Hell :suss: If you can't read my code, try converting it here[^][](X-Clacks-Overhead: GNU Terry Pratchett)
Eddy Vluggen wrote:
Where BC is painted to be used by criminals and people who evade taxes.
Like I said, I mostly agree with you. But it does make their activities easier, but I never mentioned it's only useful to them, or that BC is mostly used by them. Like many things in life there are the upsides and downsides to it. The idea that government can't control it is actually really comforting. What I don't like about it is that it doesn't have any kind of material or service attached to it, so it floats like hell. I wouldn't keep a BC savings account for example, it's much too volatile and a big question mark. I would though use it as a small slice of my investments. It has potential, but I also fear it will eventually burst. To me it has the same value as the loan papers that caused US's real state bubble burst. It's based on something that 'may' pay.
To alcohol! The cause of, and solution to, all of life's problems - Homer Simpson ---- Our heads are round so our thoughts can change direction - Francis Picabia