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Bitcoin Explained...
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darrind
 


Member Since: 04 Jul 2008
Location: In A World of My Own!
Posts: 2863

England 2013 Discovery 4 3.0 SDV6 HSE Auto Santorini BlackDiscovery 4
Bitcoin Explained...

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!!



Rolling with laughter
 Must stop buying shiny toys....  
Post #221179418th Feb 2021 3:27 pm
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darrind
 


Member Since: 04 Jul 2008
Location: In A World of My Own!
Posts: 2863

England 2013 Discovery 4 3.0 SDV6 HSE Auto Santorini BlackDiscovery 4

And there is a sequel - the language hasnt got any better

 Must stop buying shiny toys....  
Post #221179618th Feb 2021 3:29 pm
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astonbuilder
 


Member Since: 29 Sep 2006
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England 2012 Discovery 4 3.0 SDV6 XS Auto Santorini BlackDiscovery 4

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 Shocked Shocked Shocked Shocked Shocked
  
Post #221181118th Feb 2021 4:31 pm
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LT
 


Member Since: 31 Dec 2005
Location: South West
Posts: 23261

United Kingdom 2016 Discovery 4 3.0 TDV6 Landmark LE Auto Santorini BlackDiscovery 4

Assuming he can remember the password!

https://www.businessinsider.com/bitcoin-ow...S&IR=T

Shocked
 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
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2017 FFRR SDV8 Autobiography 
 
Post #221182018th Feb 2021 5:18 pm
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darrind
 


Member Since: 04 Jul 2008
Location: In A World of My Own!
Posts: 2863

England 2013 Discovery 4 3.0 SDV6 HSE Auto Santorini BlackDiscovery 4

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....  
Post #221188118th Feb 2021 11:05 pm
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GLYNNE
 


Member Since: 06 Oct 2006
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England 

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.
  
Post #221214719th 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: 1923

Canada 2016 LR4 3.0 SDV6 Landmark LE Auto Yulong WhiteLR4

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  
Post #221216720th Feb 2021 2:46 am
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Yargo
 


Member Since: 25 Dec 2020
Location: Europe
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2014 Discovery 4 3.0 SDV6 HSE Auto Java BlackDiscovery 4

Many rock solid financial institutions won’t touch this for good reason. <------- already have 8)
  
Post #221217620th Feb 2021 7:17 am
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SteveKK
 


Member Since: 11 Apr 2019
Location: North Herefordshire
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Ukraine 2010 Discovery 4 3.0 SDV6 HSE Auto Buckingham BlueDiscovery 4

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
  
Post #221220820th Feb 2021 10:01 am
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Aerialmark
 


Member Since: 21 Jun 2015
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England 2005 Discovery 3 TDV6 HSE Auto Zambezi SilverDiscovery 3

I will stick with my premium bonds Whistle
 The happiest of people don't necessarily have the best of everything;
They just make the best of everything they have. 
 
Post #221222820th Feb 2021 11:16 am
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pagoda
 


Member Since: 13 Aug 2009
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Canada 2016 LR4 3.0 SDV6 Landmark LE Auto Yulong WhiteLR4

Yargo wrote:
Many rock solid financial institutions won’t touch this for good reason. <------- already have 8)


List a couple.
 PAGODA  
Post #221229420th Feb 2021 3:02 pm
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LT
 


Member Since: 31 Dec 2005
Location: South West
Posts: 23261

United Kingdom 2016 Discovery 4 3.0 TDV6 Landmark LE Auto Santorini BlackDiscovery 4

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 
 
Post #221317023rd Feb 2021 5:38 pm
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NoDo$h
 


Member Since: 02 May 2006
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Ukraine 

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.  
Post #221317523rd Feb 2021 5:59 pm
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Paul J.
 


Member Since: 09 Dec 2005
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United Kingdom 

The amount of electricity that is consumed by Bitcoin is obscene. Rolling Eyes
 An ex-Disco3 / FFRR owner ......

..... now on the JLR electric highway. 
 
Post #221318923rd Feb 2021 6:30 pm
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NoDo$h
 


Member Since: 02 May 2006
Location: Finding new and exciting ways to milk badgers.
Posts: 19689

Ukraine 

https://www.coindesk.com/us-man-installs-c...-sportscar

Go on, put one in your iPace!
 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.  
Post #221319523rd Feb 2021 6:38 pm
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