bitcoin has no value

[RTGAdmin]

Bitcoin isn’t a ponzi though.

Sterling itself is pretty much a digital currency these days, its just a figure on a banks computer somewhere, and there isn’t an equivalent amount of notes/coins in existence.

Obviously its more stable but it is controlled by the whims of our government, unlike bitcoin or other crypto currencies.


The scheme lots of people at Nissan were on was clearly a ponzi, and had little to do with crypto despite being dressed up as that.

 

[42]

You’re wrong there like my friend. It fluctuates just like any currency does, a market place gets taking down it drop/rises it’s the way it is

The difference is that 'real' currencies are backed by governments. Crypto has nothing backing it & only has value because people are buying it.

 

[monkeytassle]

The difference is that 'real' currencies are backed by governments. Crypto has nothing backing it & only has value because people are buying it.

It's rapidly becoming an institutional asset

 

[Jabberwocky]

My ETH pot is looking decent this morning.

 

[Gazoliver]

https://www.avalonhash.io/?ref=GTSJtvS6

Here's one to look at. I started with a small stake 3wks ago and I've already made my money back. All profit from now

 

[PhilY]

Don’t know like lad I’ve made plenty from it and know many who have also, originally started using it when Silk Road/Dream marketplace was a thing for party supplies.

Clinton’s Cards do a cracking range of ‘Happy Birthday’ banners, candles and balloons etc you know.

Or Card Factory for the less discerning event organiser.

 

[halfman]

https://www.avalonhash.io/?ref=GTSJtvS6

Here's one to look at. I started with a small stake 3wks ago and I've already made my money back. All profit from now

When I try to click that link my internet security (Kaspersky) shows this: -

"We prevented a visit to a crypto scam website

This website has been created to steal your funds or trick you into sharing your private crypto wallet data, usernames and passwords.

We prevented a visit to the website to secure your data. You can close this window with no risk."

 

[Gazoliver]

When I try to click that link my internet security (Kaspersky) shows this: -

"We prevented a visit to a crypto scam website

This website has been created to steal your funds or trick you into sharing your private crypto wallet data, usernames and passwords.

We prevented a visit to the website to secure your data. You can close this window with no risk."

Oh shit
I have managed to withdraw funds from it though

 

[halfman]

Oh shit
I have managed to withdraw funds from it though

Fingers crossed it's just a false warning

 

[tunstallhill]

That's true, however it only gains value by relying on more people buying it.

Not true , it has gained and lost value loads of times by market forces out of its control, like when Musk said on Twitter he was investing in it , the value instantly rocketed.

 

[Roker Rick]

Fingers crossed it's just a false warning

I doubt it.

 

[tunstallhill]

Also, there's stuff like this (pinched off the other thread )

https://www.thestreet.com/crypto/markets/blackrock-etf-poised-to-bring-trillions-to-bitcoin

Not that I claim to fully understand it, but it shows how bitcoin can be used and be valuable

 

[Gazoliver]

I doubt it.

Not sure...
It's paid out in Bitcoin so far no bother. It could well be a pyramid scheme mind

 

[42]

Not true , it has gained and lost value loads of times by market forces out of its control, like when Musk said on Twitter he was investing in it , the value instantly rocketed.

Because when musk made those comments, lots of people jumped on it & bought it. Market forces is literally people buying & selling.

 

[John the Savage]

backed by nothing, a tulip ponzi, you will lose the lot.

Snag is 91% of holders are in profit, whilst football betters in the uk lose 6 BILION each year to the bookies.#

I gotta double my bets on the football each week.

Most of that is on 12 match accumulators.

 

[monkeytassle]

Also, there's stuff like this (pinched off the other thread )

https://www.thestreet.com/crypto/markets/blackrock-etf-poised-to-bring-trillions-to-bitcoin

Not that I claim to fully understand it, but it shows how bitcoin can be used and be valuable

I can explain this.

Funds are what is called indexed. So to attract money they need to be at least in line with their peer group. You can have stocks or bonds or high risk or low risk or whatever but ultimately investors look at are you up x% and what are your rivals doing. More and more funds are putting money into xbt (fomo) so if the returns you get from xbt are not replicated within your fund then investors will move to another fund so its a self fulfilling prophecy. Make no mistake bitcoin is now legitimate. Your pension will have xbt exposure

 

[tunstallhill]

Because when musk made those comments, lots of people jumped on it & bought it. Market forces is literally people buying & selling.

No different to geopolitical world events effecting the value of any currency in that regard.

If something happens where bitcoin can be made more useful , maybe not to the man in the street but to financial institutes or investors, then it's 'value' will increase as more people buy that currency

 

[monkeytassle]

No different to geopolitical world events effecting the value of any currency in that regard.

If something happens where bitcoin can be made more useful , maybe not to the man in the street but to financial institutes or investors, then it's 'value' will increase as more people buy that currency

As government borrowing skyrockets, which it is, bitcoin is becoming more and more like gold. No yield. Just a store of wealth.

 

[Big Jeff]

I‘ll never use cryptocurrency so I am not really bothered

 

[BRMC]

What a mess by the SEC yesterday

The adoption is coming.

I‘ll never use cryptocurrency so I am not really bothered

You'll probably use it in years to come without even knowing about it. That's when we know adoption has arrived.