darrind
Member Since: 04 Jul 2008
Location: In A World of My Own!
Posts: 2891
  
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Just seen this
It made me laugh but there are some naughty words in it - dont watch with your speakers turned up if you dont like the F word!!
 Must stop buying shiny toys....
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 18th Feb 2021 3:27 pm |
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darrind
Member Since: 04 Jul 2008
Location: In A World of My Own!
Posts: 2891
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And there is a sequel - the language hasnt got any better
Must stop buying shiny toys....
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| 18th Feb 2021 3:29 pm |
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astonbuilder
Member Since: 29 Sep 2006
Location: MIDLANDS
Posts: 8139
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Will watch when got quiet time.....
One of the lads who works for me bought two bitcoins because "a mate in the pub said they will be a good investment". He then promptly forgot about them until his IFA (family member) prodded him recently following all the news on them.
Seems his circa £1600 investment "for my two boys when they've grown up" is now worth around 75 grand 
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| 18th Feb 2021 4:31 pm |
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LT
Member Since: 31 Dec 2005
Location: South West
Posts: 23830
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Assuming he can remember the password!
https://www.businessinsider.com/bitcoin-ow...S&IR=T
2006 D3 HSE (Original & still the best)-GONE
2010 D4 HSE (A bit bling)-GONE
2014 D4 HSE (Almost too bling)-GONE
2015 D4 HSE (A heated what?)-GONE
2016 D4 Landmark (Written Off)-GONE
2016 D4 Landmark (Surely the last!) PD1881 rims-GONE
2017 FFRR SDV8 Autobiography (now semi-retired)
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| 18th Feb 2021 5:18 pm |
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darrind
Member Since: 04 Jul 2008
Location: In A World of My Own!
Posts: 2891
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Back in the day when Seti was all of the rage, my old mate Nige who ran a design business was running coin mining applications on his Macs when not working on design work - in these days the Macs were running G4 and G5 PowerPC processors and were much beefier than their PC equivalents and seemed to do a reasonable job, he mined coins evenings and weekends for nothing more than a bit of fun. After a couple of years he moved to the Isle of Wight to be nearer his ageing family and did less design work but still kept up with the old habit of mining for coins although the return was getting slower as the market swelled. By the time he passed away too early in life due to a combination of the high life and a dodgy ticker he had a good number of complete coins, and a decent storage for them set up and it was passed on as part of his will along with his cars, computers and other bits and bobs from his life.
I never kept in touch with his family but I do often think of my old mate when the subject of Bitcoin prices rears up on the news, and wonder if the family ever followed up on his instruction, and how to retrieve them, or if they are lost forever. Must stop buying shiny toys....
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| 18th Feb 2021 11:05 pm |
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GLYNNE
Member Since: 06 Oct 2006
Location: KENT
Posts: 4695
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The guy I work with has just put over 10K into various coins. His been at it for 4 weeks now and is 3K up already. I can see the appeal if it continues to grow in such away.
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| 19th Feb 2021 11:08 pm |
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pagoda
Member Since: 13 Aug 2009
Location: Not London Anymore (or the US for that matter)
Posts: 1929
  
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No intrinsic value.
An infinite supply.
A known-to-be compromised ledger system.
Not impossible to manipulate by criminal entities with the necessary know how. Wallets are vulnerable.
A (but maybe not yet ‘the’) currency of choice of money launderers and criminal syndicates.
A huge bubble (not unlike the US stock market at present, which defies all logic).
Some folks have become multi millionaires via Bitcoin.
But:
Be very careful putting in any money you can’t afford to lose. Pure speculation with a high likelihood of downside.
Many rock solid financial institutions won’t touch this (or other get rich quick schemes like the cannabis product bubble) for good reason.
Put your money on red. Or black. PAGODA
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| 20th Feb 2021 2:46 am |
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Yargo
Member Since: 25 Dec 2020
Location: Europe
Posts: 326
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Many rock solid financial institutions won’t touch this for good reason. <------- already have 8)
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| 20th Feb 2021 7:17 am |
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SteveKK
Member Since: 11 Apr 2019
Location: North Herefordshire
Posts: 287
 
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A surprising number of companies are using their processor cycles to mine crypto currencies. Unfortunately they usually don't realise this is happening.
Just yesterday I was peer reviewing a report where an international company had a cyber security incident. A group of malicious actors had injected their crypto mining malware into an environment. Often these types of incident can run for months before being detected
Crypto currencies are popular with the criminal underworld and you need to ensure you wallet is very well secured. Don't forget or lose the credentials, otherwise you are effectively burning bank notes.
Regards,
Steve
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| 20th Feb 2021 10:01 am |
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Aerialmark
Member Since: 21 Jun 2015
Location: Burnley (Where the M65 is cobbled)
Posts: 5192
 
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I will stick with my premium bonds  The happiest of people don't necessarily have the best of everything;
They just make the best of everything they have.
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| 20th Feb 2021 11:16 am |
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pagoda
Member Since: 13 Aug 2009
Location: Not London Anymore (or the US for that matter)
Posts: 1929
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Yargo wrote:Many rock solid financial institutions won’t touch this for good reason. <------- already have 8)
List a couple. PAGODA
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| 20th Feb 2021 3:02 pm |
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LT
Member Since: 31 Dec 2005
Location: South West
Posts: 23830
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Today:
So kicking things off we have a 23% drop in 72 hours. On the surface, not a good thing at all! In normal markets you would put this down to a sudden loss of confidence, but in crypto things are a little different. There are people that bought bitcoin for $3 and they are still holding; there are people that have huge mining farms that have to sell large quantities to fund operations. A combination of these 2 things is what makes bitcoin insanely volatile.
https://www.cityam.com/bitcoin-price-crash...omes-next/ 2006 D3 HSE (Original & still the best)-GONE
2010 D4 HSE (A bit bling)-GONE
2014 D4 HSE (Almost too bling)-GONE
2015 D4 HSE (A heated what?)-GONE
2016 D4 Landmark (Written Off)-GONE
2016 D4 Landmark (Surely the last!) PD1881 rims-GONE
2017 FFRR SDV8 Autobiography (now semi-retired)
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| 23rd Feb 2021 5:38 pm |
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NoDo$h
Member Since: 02 May 2006
Location: Finding new and exciting ways to milk badgers.
Posts: 19689
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Meanwhile if you sell compute capacity that can be used to validate transactions your profitability* has gone through the roof due to the massive increase in transaction volumes needing validation, all driven by this recent volatility
(* all relative, depends how you get paid and with what - and the true profit is usually only known at the point any payment becomes or is paid as fiat currency) 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.
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| 23rd Feb 2021 5:59 pm |
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Paul J.
Member Since: 09 Dec 2005
Location: Leafy Cheshire
Posts: 7627
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The amount of electricity that is consumed by Bitcoin is obscene.  An ex-Disco3 / FFRR owner ......
..... now on the JLR electric highway.
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| 23rd Feb 2021 6:30 pm |
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