BarnshaW
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Registered: 25th Oct 06
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check ur fb dan
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Balling
Premium Member
Registered: 7th Apr 04
Location: Denmark
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quote:
Originally posted by Dan
I've got a good feeling about them.
Based on what, exactly? They've more than halved in less than a week.
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Brett
Premium Member
Registered: 16th Dec 02
Location: Manchester
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 Based on there being a slim chance they might go up again and he can seem like he knows what he's on about.
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Dan
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Registered: 22nd Apr 02
Location: Gorleston on Sea, Norfolk
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I cba to type out all my thoughts. But. Long and short. I'm a huge believer that with everything turning to online sales rather than high street etc. an online currency like this is going to take off.
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Balling
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Registered: 7th Apr 04
Location: Denmark
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I guess that's fair. I'm just curious as I don't see the room or need for more than one big virtual currency in the long run.
http://www.theguardian.com/technology/2013/dec/18/bitcoin-plummets-china-payment-processors-digital-cryptocurrency
Looks to me like the bubble burst we've been waiting for. Wonder if it will stabilise at some reasonable level or drop out completely.
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Paul_J
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Registered: 6th Jun 02
Location: London
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heh
http://www.reddit.com/r/Bitcoin/comments/1t5ofu/please_sticky_usa_suicide_hotline_1800273talk/
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Brett
Premium Member
Registered: 16th Dec 02
Location: Manchester
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quote:
Originally posted by Dan
I cba to type out all my thoughts. But. Long and short. I'm a huge believer that with everything turning to online sales rather than high street etc. an online currency like this is going to take off.
Maybe, but I'd like to see JPMorgans system they have up their sleeve. I imagine the concept will be different, but it's something people will have more faith in for the future of online finance imo.
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JordyCarter
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Registered: 14th Mar 10
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Quick question whats the difference between bitcoins and litecoins?
I almost bought alot of bitcoins a few months back
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Dan
Premium Member
Registered: 22nd Apr 02
Location: Gorleston on Sea, Norfolk
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They are two different coins
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John
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Registered: 30th Jun 03
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What's the next big one Paul_J? Where have you put your 6 month ahead of the curve money?
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Dan
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Registered: 22nd Apr 02
Location: Gorleston on Sea, Norfolk
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I can see this working our favour. China basically blocked the purchase of bitcoins. Meaning this price drop. Can see that getting reversed when they finally accept it and then a massive boom in price.
Online currency is going to happen, even if china don't like it.
My mind is telling me buy now, keep for long term, and we will all be millionaires!
Although we all know about it, everyone im speaking to is totally clueless on what these are. If they keep getting brought into the general publics view, it can only benefit the prices.
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Ben G
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Registered: 12th Jan 07
Location: Essex
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People are totally clueless because it makes no sense to the average joe.
You work to earn money. Real money that you can handle. We've learned this is a natural way of life.
Telling us you ''mine'' money online and can use it to buy stuff, even though it's not a ''proper'' currency is abnormal.
I'm sort of understand it, mostly through the trading path. Not at all sure how you go about getting these coins in the first place, even though it's been explained a few times now.
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John
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Registered: 30th Jun 03
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China stopped banks trading in it, they've not blocked the purchase of them.
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Dan
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Registered: 22nd Apr 02
Location: Gorleston on Sea, Norfolk
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Getting the coins cost money and that increases by the difficulty, and time and effort, the reward is a coin.
We are too late to get on the bitcoin mining, but not too late (imo) to buy into them directly. If they do take off, then its going to mean they are going to only increase in value the harder they get to mine. (imo)
We could get into litecoin mining, but you could buy as many coins as u could mine in probably a year, today for considerably less than the investment in mining equipment.
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Dan
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Registered: 22nd Apr 02
Location: Gorleston on Sea, Norfolk
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quote:
Originally posted by Dan
China basically blocked the purchase of bitcoins.
My understanding is, they have banned the yuan from being used to buy bitcoins, "basically" stopping them from buying coins.
I guess they can buy usd, then buy coins with the usd, but that would be more links in the chain to consider I guess?
The ban is the whole reason the markets are going downwards.
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Dom
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Registered: 13th Sep 03
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quote:
Originally posted by Dan
I'm a huge believer that with everything turning to online sales rather than high street etc. an online currency like this is going to take off.
Issue is stability (there is none) and the fact it's backed up by absolutely nothing unlikely traditional currencies that tend to back up with substance - beit a precious metal like gold etc.
And what's the reason for an online currency over traditional/local currencies, especially when it has to be continuously converted to local currency anyway?
I can see the idea of a single global currency but that won't happen in our lifetime and it certainly won't be Bitcoin or any other cryptocurrency. And i'm not dismissing cryptocurrencies, not when there's money to be made in the short-term; but i don't believe there's any longevity in it or the start of 'something new' - i just don't see how it could (feel free to explain otherwise).
[Edited on 18-12-2013 by Dom]
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Paul_J
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Registered: 6th Jun 02
Location: London
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quote:
Originally posted by John
What's the next big one Paul_J? Where have you put your 6 month ahead of the curve money?
London property. Chinese investors are already buying it up... now they haven't got BTC they'll pour more money in.
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John
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Registered: 30th Jun 03
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That's not new is it, that's been the good place to put your money for a while.
I want to know what you find out at tech conferences, which isn't on the internet yet.
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Paul_J
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Registered: 6th Jun 02
Location: London
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quote:
Originally posted by Dan
Online currency is going to happen, even if china don't like it.
My mind is telling me buy now, keep for long term, and we will all be millionaires!
Thing is, as long as it's money you can afford to lose and you hold it until the price reaches a really high level, then it's almost a 50:50 bet at the moment.
The problem people have is when they buy at the top following the hype and then panic sell when it starts dropping...
There are people who bought at the top when the last bubble burst and if they held on, they would've made 5x their money with the recent peak. Most people however shat themselves and sold making the crash worse.
To be honest, if you truely believe it'll go high again Dan, then you should be looking to buy while it's lower... but keep in mind what the price was before China even got involved in the first place as it was lower than this now. The key thing at the moment is that people keep thinking 'wow cheap btc' and it boosts / stabilises the price thus avoiding the crash.
I do believe it'll go higher than the current price before it either dies or goes to infinity - too many people have vested interests now to keep it around.
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Paul_J
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Registered: 6th Jun 02
Location: London
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quote:
Originally posted by John
That's not new is it, that's been the good place to put your money for a while.
I want to know what you find out at tech conferences, which isn't on the internet yet.
You asked me where my money was.
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Paul_J
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Registered: 6th Jun 02
Location: London
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But this is definitely hot right now 
http://dogecoin.com/
wow, much coin, such currency, awesome, how money, such profit.
http://doges.org/index.php/topic,782.0.html?PHPSESSID=35e9a3c220f888afea114c67c4b72e02
[Edited on 18-12-2013 by Paul_J]
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Paul_J
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Registered: 6th Jun 02
Location: London
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But trends at the moment are still...
Digital Currencies and rather the ability to make money around them (setting up exchanges / offering tools or services relevant to them / speculating on them) - a lot of people at tech events are yapping on about these at the moment still.
I was sitting brainstorming with a couple of guys the other day who had a pretty neat idea for a social bidding site which could be fun due to the unique twist to the idea if they do it.
Social is still huge, but it's now more about mobile and more about connecting in different ways / new people - rather than the traditional facebook style. Snapchat in my opinion is junk - but expect a lot of similar basic apps, stupid spins on basic social interactivity to appear.
One thing that seems key at the moment is that it's generally a game of throwing ideas out and when one stick, it sky rockets (due to the way the internet now works / shares things) ... people such as usvsth3m just throw out a new idea all the time, but some will go mega viral.
There's people doing that with app ideas all the time and little gimmicky ideas seem to have the potential to cash in on basic, quick to execute ideas.
Myself, personally my side projects are mostly more traditional business models, drop shipping, ebooks, e-commerce on popular niches. Although I've got an app idea I may do soon as it's something I want to use (don't care if it doesn't sell, as it's been bugging me that current apps I use don't do what it will do) and also for my own enjoyment, potentially a couple of unique indie games.
I've got my btc too though, so I'll just hold until it breaks the millions Dan expects and then I'll retire lol
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Brett
Premium Member
Registered: 16th Dec 02
Location: Manchester
User status: Offline
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quote:
Originally posted by Paul_J
But this is definitely hot right now
http://dogecoin.com/
wow, much coin, such currency, awesome, how money, such profit.
http://doges.org/index.php/topic,782.0.html?PHPSESSID=35e9a3c220f888afea114c67c4b72e02
[Edited on 18-12-2013 by Paul_J]
You posted a screenshot on 4chan? 
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Richie
Member
Registered: 3rd Dec 02
Location: Newport, Wales
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Chucked my old 5850 into a rig I had lying around earlier and and hour later, boom 1200 Dogecoin hahaha.
Made me chuckle if nothing else!
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Dan
Premium Member
Registered: 22nd Apr 02
Location: Gorleston on Sea, Norfolk
User status: Offline
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No time to reply to everything. But check out the recovery a of 30% already today.
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