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Aug 24th, 2023
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Joined: Mar 2009
Posts: 11,221 Likes: 159
Smile, it confuses them Member of the Inner Circle
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Smile, it confuses them Member of the Inner Circle
Joined: Mar 2009
Posts: 11,221 Likes: 159 |
Ken you are welcome to comment, I always take correction in good will. Some of the comments are from people who are investing capital in the companies so I generally trust their information.
So teach me. I have learnt a ton of things from the other people on the forum and am happy to do so now.
Everyone loves a Morgan. Even me, unless it's broken again.
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Joined: Aug 2013
Posts: 15,794 Likes: 14
Formerly known as Aldermog Member of the Inner Circle
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Formerly known as Aldermog Member of the Inner Circle
Joined: Aug 2013
Posts: 15,794 Likes: 14 |
Perhaps we should all put £10.00 into a shared fund and buy a bitcoin or two.
We either lose £10.00 each or make a fortune.
With the fortune we can fund TM from now to eternity!!
Peter,
66, 2016 Porsche Boxster S
No longer driving Tarka, the 2014 Plus 8...
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Joined: Jun 2014
Posts: 11,610 Likes: 43
Wave & smile... It's a Morgan Member of the Inner Circle
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Wave & smile... It's a Morgan Member of the Inner Circle
Joined: Jun 2014
Posts: 11,610 Likes: 43 |
Well I had hoped to be a enlighened as to how it works - how you buy them, how you actually own them and how you spend or cash them but actually I’m not that bothered as experience in my short years of life has taught me that if everyone is talking about something as an investment to get rich, it’s gone and passed.
My father told me at a very young age, “ Stewart, whatever someone says, history has taught us that after every boom, there is a bust”
2008 XXVII Platform, Bugatti Blue Roadster 4 Seater
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Joined: Jan 2009
Posts: 5,888 Likes: 22
Charter Member
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Charter Member
Joined: Jan 2009
Posts: 5,888 Likes: 22 |
experience in my short years of life has taught me that if everyone is talking about something as an investment to get rich, it’s gone and passed.
Absolutely right. Was it Rockerfeller or Morgan who said " when the shoe shine boy is giving you share tips, its the time to sell"
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Joined: Jan 2009
Posts: 5,888 Likes: 22
Charter Member
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Charter Member
Joined: Jan 2009
Posts: 5,888 Likes: 22 |
The views are numerous and interesting.
1. Bitcoin is rather like amazon when it first started to sell books. A nice idea but it will never go anywhere. It ended up causing a step change in spending. Look at the share price and compare to woolworths. I never said it was good or bad, just a change in mode.
2. It is a random thing being called a currency and due to the lack of legislation is being used to trade money where money would be controlled better. This is a real side issue of all of the crypto-currencies. This is a real risk to organised society. Then again the layers of legislation on banking makes them somewhat envious of the new noddy-notes as one person called them.
3. They could be the emperors new clothes. Just another silicon valley scam as they will never break out of toy status due to the legislative impact.
The GBP is linked to the UK and Bank of England and so has some knickers under its fur coat. A noddy-note is worth what people think it is worth at any given moment. First time someone gets the bad PR moment (blood diamond situation, run on security issue as it is a BIG target) then the value has no meat so it will be interesting to watch.
As they are not linked to a country it would be fairer to consider them as a simple commodity like copper or gas perhaps.
I used to use my spare computing to do bit-mining when it first started. It was the video board raw number crunching that had most pull.
The new blockchain technologies that underpin it are getting great traction in the VC community in California right now. They could underpin a lot of other payment models and transaction processes and bring great value as I see it.
I do worry about the unregulated aspects of these being the bermuda triangle of blood money. I do however believe that option 1 is waiting to happen.
Legislation in the banking sector has always been both a millstone and a requirement so I am guessing this will bring it to a head.
Many of the older banks will end up taking an interest in newer blockchain/bitcoin banks or opening competitors aligned to the main bank to soak up the activity.
High stakes. Sorry but this is a load of rubbish talk I disagree. I wouldnt have put it quite that way but he is right. We dont know whether its going to turn out to be a scam/ bubble and yes the unregulated nature , not to mention the virtual nature, of the system is a worry. Particularly for governments. I believe the blockchain system is being used increasingly for other purposes in other areas. Look at https://www.forbes.com/sites/quora/2017/...n/#322400c3446e
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Joined: May 2010
Posts: 9,285 Likes: 69
Needs to Get Out More!
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Needs to Get Out More!
Joined: May 2010
Posts: 9,285 Likes: 69 |
Sospan,
After reading your post, decided to check my bit coins. I prized the rubber bung out of the bottom of my ceramic Aero 8 money box, totted everything up and it comes to £7.47. Now I can either go and buy a new bottle of Autoglum, or buy you a pint at the Christmas Noggin. Decisions. decisions.....(happy days).
Aerotaff Yeah yeah! Anyway, I thought your stash was in a treasure chest anchored to the bottom of the bay.  All those fishing trips and no fish 
Plus Four MY23 Furka Rouge
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Joined: May 2014
Posts: 456
Learner Plates Off!
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Learner Plates Off!
Joined: May 2014
Posts: 456 |
Sorry but this is a load of rubbish talk
Well you can't leave it there? The other poster has gone to a lot of trouble and quite a few of us have read intently. Please explain.
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Joined: Jan 2016
Posts: 853
Talk Morgan Regular
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OP
Talk Morgan Regular
Joined: Jan 2016
Posts: 853 |
Ken you are welcome to comment, I always take correction in good will. Some of the comments are from people who are investing capital in the companies so I generally trust their information.
So teach me. I have learnt a ton of things from the other people on the forum and am happy to do so now. Alistair, my response to your post was unforgivable. In today’s cold light of day I am truely ashamed at what I said. I can offer no explanation other than a good bottle of Merlot did play a part. Also I am still totally confused about Bitcoin. Unfortunately I cannot undo the post so it will have to remain as evidence of my stupidity. Please accept my most sincere apology.
Ken A.
Plus 4 2009 Centenary Metallic Red
Plus 8 1994 Dark Green (prev)
Honda CB100 The Big One
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Joined: Jan 2009
Posts: 5,888 Likes: 22
Charter Member
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Charter Member
Joined: Jan 2009
Posts: 5,888 Likes: 22 |
Interesting comment in the weekend press. There is a lot of talk about financial bubbles and possible crashes right now and someone quoted the example of a particular share that started at $2.5 in 97 rose to $70 two years later in the tech stock bubble and then fell back to $6. Was that share in a bubble? Its now over $1100 - the company is Amazon.
I suppose the lesson is that some of what seems like a bubble maybe is at the time of view but turns out not to be. Others are bubbles and burst.
So what is Bitcoin? I dont know but dont be deceived by some on here who seem to think that if you cant stub your toes against it, then it isnt worth anything.
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Joined: Jan 2009
Posts: 5,888 Likes: 22
Charter Member
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Charter Member
Joined: Jan 2009
Posts: 5,888 Likes: 22 |
Interesting comment in the weekend press. There is a lot of talk about financial bubbles and possible crashes right now and someone quoted the example of a particular share that started at $2.5 in 97 rose to $70 two years later in the tech stock bubble and then fell back to $6. Was that share in a bubble? Its now over $1100 - the company is Amazon.
I suppose the lesson is that some of what seems like a bubble maybe is at the time of view but turns out not to be. Others are bubbles and burst.
So what is Bitcoin? I dont know but dont be deceived by some on here who seem to think that if you cant stub your toes against it, then it isnt worth anything.
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