Bitcoins

[AZ Gull]

I couldn't agree with you more, I hope it works out for you.

The Blind Tiger (ex Hector's House) in Brighton has started taking them, the next time you are around. I'm guessing you didn't purchase them, to buy beer with though!

Brighton's Blind Tiger Club first in city to accept Bitcoin payment

 

[GingerBeerMan]

I have heard about them, and they sound very much like a scamcoin!

In what way do you consider a de-centralised cryptocurrency a 'scam'?

Doge coins share the same software as Litecoins because it's open source, a currency you claimed was a good investment just a few posts up. Doge currently has a market cap of over $80,000,000 and is the 3rd most traded coin (in terms of volume) in the past 24 hours, this is out of hundreds of currencies.

 

[Herr Tubthumper]

Oh dear, that was bad timing from me.

 

[Titanic]

http://www.bbc.co.uk/news/technology-26319247

"The chief executive of Bitcoin exchange MtGox, Mark Karpeles, has quit the board of the Bitcoin Foundation, which oversees and develops Bitcoin software.
It comes shortly after MtGox halted transfers of the digital currency to external addresses after it spotted what it called "unusual activity".
The halt resulted in a sharp decline in the value of Bitcoins.
Last week, MtGox - one of the largest Bitcoin exchanges - said customers should be able withdraw funds "soon".
Meanwhile, all tweets on MtGox's Twitter account have also been deleted.
The Bitcoin Foundation said that Mr Karpeles's resignation would be "effective immediately".
It is the foundation's second high-profile resignation in the past month.
Another board member, Charles Shrem, stepped down in late January after being arrested and charged with money laundering in connection with his Bitcoin company."

Messy stuff.

25 Jan 2014 16:00 UTC - 24 Feb 2014 16:43 UTC
XBT/USD close:566.82672, low:240.57230, high:1019.09872

 

[jgmcdee]

Oh dear, that was bad timing from me.

Not really. 1 bitcoin will be worth either thousands or nothing in a couple of years' time; either way a few dollars here or there won't make a lot of difference.

 

[Uncle C]

Not quite so shiny now are they?

 

[Herr Tubthumper]

I seem to have mislaid my (virtual) wallet, if anyone finds it please let me know.

 

[Herr Tubthumper]

Not really. 1 bitcoin will be worth either thousands or nothing in a couple of years' time; either way a few dollars here or there won't make a lot of difference.

Mine's in MtGox though

 

[BBassic]

Isn't the monetary value of the last crash something like $370m?

 

[Pevenseagull]

Mine's in MtGox though

you might still be able to get a virtual piece of card with a wizard on it

 

[Herr Tubthumper]

http://www.bbc.co.uk/news/technology-26319247

"The chief executive of Bitcoin exchange MtGox, Mark Karpeles, has quit the board of the Bitcoin Foundation, which oversees and develops Bitcoin software.
It comes shortly after MtGox halted transfers of the digital currency to external addresses after it spotted what it called "unusual activity".
The halt resulted in a sharp decline in the value of Bitcoins.
Last week, MtGox - one of the largest Bitcoin exchanges - said customers should be able withdraw funds "soon".
Meanwhile, all tweets on MtGox's Twitter account have also been deleted.
The Bitcoin Foundation said that Mr Karpeles's resignation would be "effective immediately".
It is the foundation's second high-profile resignation in the past month.
Another board member, Charles Shrem, stepped down in late January after being arrested and charged with money laundering in connection with his Bitcoin company."

Messy stuff.

25 Jan 2014 16:00 UTC - 24 Feb 2014 16:43 UTC
XBT/USD close:566.82672, low:240.57230, high:1019.09872

I thought this was going to be an alternative to banking. It seems to have got up-to-speed with real banking shenanigans pretty quickly.

 

[Notters]

Mine's in MtGox though

Uh oh... Bitstamp is so much better!

 

[Herr Tubthumper]

Uh oh... Bitstamp is so much better!

Now you tell me

 

[PoG]

Worth buying now?

 

[Notters]

Now you tell me

See post #128 m' lud. Hope you get yours back though

 

[jgmcdee]

Mine's in MtGox though

Ouch. Well, hope you get yours back. Do let us know how it goes.

 

[Albumen]

Utter toilet, the whole thing.

Yup.

 

[Uncle C]

There's no fool like an old fool.

 

[Triggaaar]

I saw some news on MtGox disappearing, and didn't understand why the Bitcoins that people own disappear with MtGox. I assumed it was like owing shares, where there would be a global register of who owned how many etc. But it seems that people have hundreds of thousands of pounds worth of Bitcoins, sitting with an organisation, that could just walk off with it if they wanted. I don't get it.

 

[beorhthelm]

Now you tell me

keeping Bitcoin in any exchange is kinda defeating half the purpose of them.

I saw some news on MtGox disappearing, and didn't understand why the Bitcoins that people own disappear with MtGox. I assumed it was like owing shares, where there would be a global register of who owned how many etc. But it seems that people have hundreds of thousands of pounds worth of Bitcoins, sitting with an organisation, that could just walk off with it if they wanted. I don't get it.

Rather unlike a stock exchange, where you simply trade the shares back and forth but hold them off the exchange, the Bitcoin exchanges also act as deposit accounts. essentially a bank, an unregulated, insecure, unaudited bank. the main purpose of Bitcoin was to decentralise money, but people then go and hold their money in centralised pots.