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bitcoin

News yesterday . . .

The value of Bitcoin is in free-fall with over 30% of the value wiped out - and its still falling.

I don't have any :grinning:.

Bob.
 
BobMurphy said:
News yesterday . . .

The value of Bitcoin is in free-fall with over 30% of the value wiped out - and its still falling.

I don't have any :grinning:.

Bob.
Click to expand...

Bitcoin has crashed 30% six times in 2017. Each crash has been followed by an increase of: 76%, 237%, 183%, 165%, 152%.

I don't have any either.
 
Looks like they are still dropping, 30% a day the last 2 days

Sticking to my shares and funds
 
still only playing with £300 but have mad a lose of about £40 but can afford to wait for a while, but will stick with my other methods to make a few bob. Take a look yourself, that a big drop

IMG_1228.jpg
 
Wow, a topic on the Landcruiser forum that I have some experience with ... :) (I still don't own a Cruiser just yet)

Bitcoin has been overvalued for a little while, more specifically since the insane run up of late 2017. Nevertheless it's very interesting tech that in my personal opinion is worth learning more about. I think it could be argued that it offers a hedge vs the traditional banking system, and does offer 'inherent' value because it is censorless money. That said, it can be pretty daunting to get your head around.

I've sat through the big crash of 2013/2014 so what is currently happening in terms of a 30% price drop is nothing really new, as far as cryptocurrency's extreme volatility goes. That does mean that it can go quite a bit lower still before it 'stabilises'. 80% drops have happened several times in bitcoin's lifecycle.
 
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Wandering through my mind in idle boredom with this in front of me got me wondering at the true value of trading thin air and money laundering sprung to mind .
Can't be bothered to think much about it but 21 million in petty cash easily exchangeable and as i understand it pretty much exempt from laws and regulation would be a powerful tool , who cares if a few people make 40 quid out of it from time to time its cheaper than tax .

I'm happy to be corrected truth is i don't really care its just idle meanderings from me .
 
Shayne said:
Wandering through my mind in idle boredom with this in front of me got me wondering at the true value of trading thin air and money laundering sprung to mind .
Can't be bothered to think much about it but 21 million in petty cash easily exchangeable and as i understand it pretty much exempt from laws and regulation would be a powerful tool , who cares if a few people make 40 quid out of it from time to time its cheaper than tax .

I'm happy to be corrected truth is i don't really care its just idle meanderings from me .
Click to expand...

Yeah there's no doubt that it has utility for criminals. For instance, it has the reputation of being the go-to currency for buying drugs and other illegal items on the web.

What I find interesting is that bitcoin is not nearly as anonymous as is normally assumed. The very nature of it requires that every transaction is recorded on a public ledger. And especially once you would want to exchange for £/Euro/$, the most common ways of doing so require getting your ID & bank details verified. The cryptocurrency exchanges are beholden to laws and regulation.

I'm sure it could be used for money laundering though. On the flipside, good old cash is still the most anonymous form of money in existence.
 
Bitcoin slide continues currently $7610.

Certainly surprising considering it hitting close to $20,000 last month!!
 
it may have some degree of future utility but the current rise is all just a hype based bubble and a crash is long overdue
 
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