Member Since: 22 Jun 2011
Location: southampton
Posts: 2521
Yes its volotile but if you see it as gambling and only gamble with what you can afford to lose no problem. been very good ROI for me to date in last year but im not holding my breath i use coinbase and find it simple and straightforward to use......and theres £7 bothways for an intro so if you want one pm me your e mail 😁
All investment at your risk tho chaps like i said its gambling imo 👍MY05 SE D3 Manual my first LR what a car
MY10 HSE D4 auto
MY14 XXV more buttons than the spaceshuttle
10th May 2021 6:17 pm
Disco_Mikey
Member Since: 29 May 2007
Location: Dundee, Scotland
Posts: 20842
I've a few quid in Coinbase. Just to see how it worke
I dont expect the same returns as Bitcoin (but that would be nice ) or indeed any returns, but I live in hope My D3 Build Thread
You do realise not all coins are mined? Many are minted, for want of a better term.
As for egregious use of electricity, some could argue that for any anthropomorphic impact of any kind, including driving to the shops.I know it's not considered "kind" to say no these days, but no. Just no, ok? And if it's not ok, still no.
10th May 2021 7:48 pm
Paul J.
Member Since: 09 Dec 2005
Location: Leafy Cheshire
Posts: 7627
The concept of crypto currencies is not the problem*, it is the resources that go into maintaining the blockchain that is obscene. It is only comparable to driving to the shops if you do this in a Mini Metro fitted with one of these:
Click image to enlarge
* There is also the anonymity aspect, which makes them oh so handy for organised (and presumably also disorganised) crime.An ex-Disco3 / FFRR owner ......
Suspension wouldn't take the load. Hell, the wheel and drive shaft fell on on my first wife's 45bhp 1.0 when she went into a roundabout with a bit of enthusiasm. But that does remind me that while I thought I had bought my last V8, I probably haven't the way prices are going on S-Class coupes.I know it's not considered "kind" to say no these days, but no. Just no, ok? And if it's not ok, still no.
10th May 2021 8:12 pm
Harry365
Member Since: 25 Aug 2018
Location: Lincoln
Posts: 382
Paul J. wrote:
I wouldn’t be able to keep up with the charging demands.
It is not just the waste in mining the bitcoins in the first place, it is also the waste in processing the transactions:
Click image to enlarge
This study has been thoroughly debunked. It was ignorant to a lot of how the bitcoin network works and made a lot of assumptions regarding growth which are simply not technically possible.
As far as the visa transactions are concerned, the study is only concerned about the tiny amount of electricity needed to process the visa transactions but fails to take into account the amount of energy needed to uphold the entire fiat system: for example, 100s of 1000s of branches, millions of ATMs, webhosting, staff and their transportation etc. That's without even getting started on the issues the dollar, pound and franc have caused economies around the globe for centuries (Africa. South America).
The truth of it is, bitcoins combination of store of value and proof of work is creating a global economic battery for renewable energy, freeing economies from the shackles of the dollar and giving foundation to an improved global society through decentralisation.
30th May 2021 1:10 pm
Paul J.
Member Since: 09 Dec 2005
Location: Leafy Cheshire
Posts: 7627
Debunked by who? It’s no good saying it’s wrong without providing the evidence. An ex-Disco3 / FFRR owner ......
..... now on the JLR electric highway.
30th May 2021 1:34 pm
kajtzu
Member Since: 10 Aug 2017
Location: Helsinki
Posts: 6754
How exactly do bitcoins store value? As far as I can tell… it doesn’t. It has a value only for speculators and only if there is sufficient liquidity when exchanging to another asset. Like USD.
Also, if someone argues it stores value, please explain how come that value went first to 63k in April and then down to 36k a few days ago just like that. Or is it the problem that the USD is too volatile for XBT?
30th May 2021 2:17 pm
Harry365
Member Since: 25 Aug 2018
Location: Lincoln
Posts: 382
My apologies. The first two directly address the 2018 study most of these BTC energy stats come from.
A lot of criticism around bitcoins energy consumption fail to acknowledge the bigger picture and incorrectly state bitcoin as a day to day currency. It isn't a currency, it's a store of value. Financial transactional currencies do and will no doubt continue to exist as proof of stake tokens/coins which require significantly less energy to maintain the blockchain.
So why not exclusively use proof of stake and move away from proof of work entirely?
It's a relatively valid question that I personally haven't totally made my mind up on though there are a couple of reasons I can think of. Proof of stake tokens tend to be inflationary by design (though controlled); ideally store of value requires finite supply. PoS also have use cases which affect their value. Very simplified and there are many strong arguments for PoS store.
30th May 2021 2:30 pm
Paul J.
Member Since: 09 Dec 2005
Location: Leafy Cheshire
Posts: 7627
That Ted Talk does not debunk the idea that Bitcoin is an egregious waste of electricity. It challenges some assumptions relating to future consumption, including the scalability of Bitcoin - that is not a positive attribute for a currency. However, in essence it attempts to legitimise Bitcoin, and presumably other blockchain currencies, by saying they are not as bad as people are saying, but without making it clear that they are still bad.
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) or indeed any returns, but I live in hope 
