# Bitcoin #

udo's picture
udo started the topic in Wednesday, 15 Nov 2017 at 3:49pm

The Bitcoin graph looks Interesting ! ?

Topsy's picture
Topsy's picture
Topsy commented Tuesday, 13 Oct 2020 at 9:36am

Anyone here still into crypto?

Michael Bourne's picture
Michael Bourne's picture
Michael Bourne commented Tuesday, 13 Oct 2020 at 2:03pm

Interesting question Tops (not to be confused with bottoms). And, like a lot of swillnutty ‘incidents’ there’s a... a... well... erm... a bit of a ‘backstory’. Tops.

Think of it this way. Parents hear of a dude offering swimming lessons. They check his qualifications... part time electrician... or maybe he’s almost over qualified. Maybe he cares for his oldies, and even a sick rellie as well. An all rounder so to speak. They think, ‘shit, sounds deluxe’, so off they go.

‘Gidday, I’m ya instructor today, just letting ya know, I’m a intermediate expert too.’

He enters the pool, flounders around like an idiot and drowns before the horrified kids eyes.

The owner of the centre then presents himself, and announces,
‘great story ta tell the kids aaayyyeee!!!!’

Yep, it’s just another run of the mill swillnut ‘backstory’ that one Tops.

The ‘official’ position you ask?

‘Best not discussed... aaaaayyyyeeee mmmmaaaayyyytttee...’ Again.

In a nutshell.

shoredump's picture
shoredump's picture
shoredump commented Tuesday, 13 Oct 2020 at 6:34pm

I’ve still got mine. Most impressive gamble outside of sports multis I’ve ever had. Much better than anything I’ve had on the asx. 4.5 times my buy in, in a month. Proof it worked I reckon.
The trouble was of course greed, that rapid gain syndrome is real, & didn’t take out a win. I won’t take out a loss, I’ll leave it there to either drop to zero, get stolen, or maybe it’ll bubble up again some day, which it could. Good fun, but I don’t follow it at all

Topsy's picture
Topsy's picture
Topsy commented Tuesday, 13 Oct 2020 at 8:02pm

@shoredump good luck mate, I hope it pumps for you. I think we are on the verge of a bull market
@Michael Bourne aaaaayyyyyeeeeemmmaayyyttteee

thermalben's picture
thermalben's picture
thermalben commented Wednesday, 21 Oct 2020 at 6:38am

Ah, the Bitcoin thread! Long time, no see. Hope you're well.

Came across an interesting quote in this article, that's worth looking into.

"...then there’s the environmental problem. The environmental problem? Aren’t we talking about digital coins? Yes, which makes it even stranger. Solving all those complex puzzles requires a huge amount of energy. So much energy that the two biggest blockchains in the world – bitcoin and Ethereum – are now using up the same amount of electricity as the whole of Austria.  Carrying out a payment with Visa requires about 0.002 kilowatt-hours; the same payment with bitcoin uses up 906 kilowatt-hours, more than half a million times as much, and enough to power a two-person household for about three months."

https://thecorrespondent.com/655/blockchain-the-amazing-solution-for-alm...

Blowin's picture
Blowin's picture
Blowin commented Wednesday, 21 Oct 2020 at 11:13am

Best get your head around it Ben. Digital currency isn’t going away by any means.

https://www.ecb.europa.eu/pub/pdf/other/Report_on_a_digital_euro~4d7268b...

shoredump's picture
shoredump's picture
shoredump commented Wednesday, 21 Oct 2020 at 11:38am

If that’s the case Ben, then Bitcoin is doomed. I think the one I bought, Ripple, is a whole different kettle of fish. Could be wrong though, never spent more than 5 minutes thinking about it.

Topsy, what are your reasons

thermalben's picture
thermalben's picture
thermalben commented Wednesday, 21 Oct 2020 at 11:39am

I have no doubt that cryptocurrency is here to stay.

I'm just interested in all of the previously unknowns (whilst everyone was scrambling to make a quick profit) that are now becoming known.

Topsy's picture
Topsy's picture
Topsy commented Thursday, 22 Oct 2020 at 10:36am

Just a quick comment here to begin with until I get some time later to fully digest that article. Yes, Bitcoin and Ethereum currently use a lot of energy, but that is going to change. Ethereum is getting very close to changing from proof of work (the energy hungry consensus mechanism) to proof of stake where an amount of ETH is “staked”, or locked up in exchange for the right to participate in mining (creation of the blockchain ledger) and receive a share of the mining rewards. Bad actors lose their staked ETH. The trick is to keep it all decentralised at the same time.

Topsy's picture
Topsy's picture
Topsy commented Thursday, 22 Oct 2020 at 10:42am

Second layer solutions are also being developed where a more efficient consensus application runs the bulk of the transactions and then deposits a group of them on the Bitcoin or Ethereum blockchain in a single transaction.

Topsy's picture
Topsy's picture
Topsy commented Friday, 23 Oct 2020 at 12:08pm

There is an incredible amount of activity and innovation happening in the blockchain space atm. Also, as usual, there are a lot of fake scam projects. The writer of the above article (the correspondent one) cherry picks obscure examples to suit his article. I found myself shaking my head and skimmed the bulk of it because it was not worth my time to read it.
I have plenty of time for you guys though and would be happy to answer any questions here.
Hope you are all getting your share of the waves.

donweather's picture
donweather's picture
donweather commented Friday, 23 Oct 2020 at 12:07pm

I'm still in it, albeit no long term holds other than stable coins. Trading the volatility of BTC pretty much these days.

Topsy's picture
Topsy's picture
Topsy commented Friday, 23 Oct 2020 at 12:09pm

Glad to hear that you are still in Don. BTC volatility is a wonderful thing. Plenty to be made there

donweather's picture
donweather's picture
donweather commented Friday, 23 Oct 2020 at 12:12pm

The power requirements of BTC transactions have always been well known Ben. Nothing new there. Watched an interesting video yesterday about a central bank digital currency. Quite thought provoking. Stick with it. A little slow at the start. Gets interesting about midway through.

https://www.youtube.com/watch?v=qL2LfVRl3J0

donweather's picture
donweather's picture
donweather commented Friday, 23 Oct 2020 at 12:13pm

Yeah topsy had a good run the last few weeks. Lets hope it continues.

donweather's picture
donweather's picture
donweather commented Friday, 23 Oct 2020 at 12:15pm

Paypal now accepting cryptocurrency payments.

udo's picture
udo's picture
udo commented Monday, 2 Nov 2020 at 11:51am

Oct 2nd $14700 today $19700 AUD.

donweather's picture
donweather's picture
donweather commented Monday, 2 Nov 2020 at 11:51am

All are watching the US election now to see where most global markets go.

udo's picture
udo's picture
udo commented Sunday, 8 Nov 2020 at 12:11pm

$20500 AuD

udo's picture
udo's picture
udo commented Wednesday, 18 Nov 2020 at 3:30pm

Still rising - $24940

donweather's picture
donweather's picture
donweather commented Saturday, 21 Nov 2020 at 4:38pm

BTC marketcap hits ATH

shoredump's picture
shoredump's picture
shoredump commented Sunday, 22 Nov 2020 at 8:22am

Ripple up 30% in 24hrs