****** discussion

[WaveJumper]

Seems to be no stopping Bitcoin since the 1st Jan 2023 break out on 17th Feb 2024 slight pull back and another break on 25th 70k could be a break through point this month a nice ride but DYOR

 

[Mark James]

Yeah, funny how the Bitcoin deniers have gone quiet.

 

[Martin Patfield]

Just wait until it drops again. "Haha, told you so"

Whole new ball game with the big boys jumping head first into it with massive volumes.

 

[Mark James]

Good job I jumped in when the small boys were tinkering then

 

[Mark James]

I’m trading etherum now too, much more fun- much more volatile, good for scalping.

 

[NickZ]

Trading si the worst thing to happen to P2P coins.
ETH is not what I like.

 

[Mark James]

Have a pop at Solano, that might tickle your fancy.

 

[macScot]

I'm a novice will all this ****** stuff I try to take an interest but it is like a new language.

Im Interested in it and it's only just began. There's loads of them and loads of newcomers.

Is anyone else mildly into this type of stuff?

There's a lot of new players coming up there's horses to be backed for pennies that can make some serious returns.

Anyone interested anyone trying to find the next BC and avoid the next 1C?

I was interested in the past, not so much now as I have been scammed multiple times. The first scam was when I tried to purchase mining hardware from a company called Butterfly Labs in 2014, and the hardware never turned up and eventually was given an option to either receive a refund or accept to receive BTC via their cloud mining option. I did in the end choose the cloud option and ended up with just under 1 BTC for approx £700+ I had spent with an almost 2 year wait. That was my first experience but have ended up losing my invested money on various 'coins' in the years.

In my opinion, out of all the different ******, at the moment Bitcoin would be the safest option, the rest are likely to lose you money.

Although I do have some 'invested' into CKB mostly, I now concentrate on the stock market instead as its more regulated and less scammy as long as you invest in large companies rather than penny stocks.

 

[Newchodge]

In my opinion, out of all the different ******, at the moment Bitcoin would be the safest option, the rest are likely to lose you money.

And Bitcon, of course is not. They are all versions of Ponzi schemes and should be avoided by any sane person.

As for the stock market, gambling pure and simple and about to face a huge crash given Trump's behaviour.

 

[wayzgoose]

And Bitcon, of course is not. They are all versions of Ponzi schemes and should be avoided by any sane person.

As for the stock market, gambling pure and simple and about to face a huge crash given Trump's behaviour.

I really can't see how you could describe bitcoin as a ponzi scheme.

 

[Newchodge]

I really can't see how you could describe bitcoin as a ponzi scheme.

It relies solely on people being stupid enough to buy from those who have it at a rate higher than the holders paid for it. Other than that, it has no value. Why is that not a Ponzi scheme?

 

[macScot]

Bitcoin at the moment is considered to be superior to other ****** currencies/ digital assets, and has the largest market cap. It is trusted by millions of individuals and businesses and is also being adopted by countries. At this stage, it is likely going to be hard to replace and most likely will remain the global standard for decades to come. If you think Bitcoin is a ponzi scheme, then arguably so is fiat currency and various other types of assets e.g. artworks etc.

Investing (i.e. long term holding) in the stock market is not gambling as long as you invest in profitable and well run companies for the long term or stick to index funds that cover the S&P 500 or All world index funds. You have to do your own research. This is off topic so I will end it here.

 

[Ozzy]

It relies solely on people being stupid enough to buy from those who have it at a rate higher than the holders paid for it. Other than that, it has no value.

To be fair, doesn't that describe all share trading?

 

[wayzgoose]

It relies solely on people being stupid enough to buy from those who have it at a rate higher than the holders paid for it. Other than that, it has no value. Why is that not a Ponzi scheme?

Who is the company making a fortune from this "Ponzi" scheme? And I assume the Financial institutions that now offer ETFs are also stupid?

 

[Ozzy]

Who is the company making a fortune

If you've ever watched The Wolf of Wall Street - it's the brokers making the money

 

[Newchodge]

To be fair, doesn't that describe all share trading?

Oh yes.

 

[MikeJ]

Bitcoin at the moment is considered to be superior to other ****** currencies/ digital assets, and has the largest market cap. It is trusted by millions of individuals and businesses and is also being adopted by countries. At this stage, it is likely going to be hard to replace and most likely will remain the global standard for decades to come. If you think Bitcoin is a ponzi scheme, then arguably so is fiat currency and various other types of assets e.g. artworks etc.

Nobody describes other assets as currency though.

People can trade currencies based on how they think that country's economy is going to perform. That's quite different to Bitcoin.

 

[AlanJ1]

the rest are likely to lose you money.

Only if you don't know what you are doing.

They are all versions of Ponzi schemes and should be avoided by any sane person.

What a crazy statement. Almost every major financial institution is investing in the ****** markets (just like they do in the stock markets).

 

[Newchodge]

Only if you don't know what you are doing.


What a crazy statement. Almost every major financial institution is investing in the ****** markets (just like they do in the stock markets).

Which are also Ponzi schemes.

 

[WaveJumper]

If you've ever watched The Wolf of Wall Street - it's the brokers making the money

We call them the MMs ........the money movers

 

[WaveJumper]

Nobody describes other assets as currency though.

People can trade currencies based on how they think that country's economy is going to perform. That's quite different to Bitcoin.

Yes correct FX trading you are basically trading a "currency pair" might be GBP./ USD or one I quite like GBP / ZAR but there's a whole load to choose from and yes you are either "betting" (if you like) ones going up or its going down of course those in the trade will have all sorts of graphs running, know the trends and will be glued to the news just in case some bugger starts another war.

******-currency is another whole different ball game there';s about 18 to choose from, Bitcoin probably the best known followed by the likes of Ether, Dogecoin & lightcoin only pro traders in the Uk can take spreads out on ****** for everyone else they need to buy and sell on the likes of platforms like Coinbase.

As I always mention the ****** arena is and one could say the whole commodities market is a gamble hence why most of you pile you money into funds and let the fund managers (hopefully) make you a return. You know that lovely small print "your assets can go up and down no guarantees"

However ****** (like many a share we like to trade) can be extremely volatile and not for the faint hearted but I agree with the sentiment they are here to stay and very much a part of the business world.

 

[Nathanto]

Bitcoin ... is trusted by millions of individuals and businesses

Do you have any data to back that up regarding businesses?

Bitcoin has been available for over a decade yet my understanding is that the number of businesses that accept Bitcoin in the entire world, let alone the UK, is negligible; maybe in the tens of thousands businesses globally if you're feeling generous but not remotely millions!

 

[macScot]

Do you have any data to back that up regarding businesses?

Bitcoin has been available for over a decade yet my understanding is that the number of businesses that accept Bitcoin in the entire world, let alone the UK, is negligible; maybe in the tens of thousands businesses globally if you're feeling generous but not remotely millions!

I meant millions of users, who are a mix of both individuals and businesses.

How Many People Own, Hold & Use Bitcoins? (2026)

This is a complete overview of Bitcoin user metrics. Learn how many people use and hold Bitcoin from this in-depth post.

bitbo.io

BitcoinTreasuries.com

Track Bitcoin Treasuries of companies, miners and countries at BitcoinTreasuries.com.

treasuries.bitbo.io

 

[Newchodge]

I meant millions of users, who are a mix of both individuals and businesses.

How Many People Own, Hold & Use Bitcoins? (2026)

This is a complete overview of Bitcoin user metrics. Learn how many people use and hold Bitcoin from this in-depth post.

bitbo.io

BitcoinTreasuries.com

Track Bitcoin Treasuries of companies, miners and countries at BitcoinTreasuries.com.

treasuries.bitbo.io

So, no, then.

 

[macScot]

Do you have any data to back that up regarding businesses?

Bitcoin has been available for over a decade yet my understanding is that the number of businesses that accept Bitcoin in the entire world, let alone the UK, is negligible; maybe in the tens of thousands businesses globally if you're feeling generous but not remotely millions!

So, no, then.?

So, no, then.

No what?, I don't understand the point you are trying to make.

 

[Newchodge]

The question was 'do you have any data to back that up?' Your answer did not provide either any data nor an answer, so I answered it for you.

 

[macScot]

The question was 'do you have any data to back that up?' Your answer did not provide either any data nor an answer, so I answered it for you.

My answer provided a clarification and also provided links to websites that provide data that may be of interest. I am sorry if you cannot see that.

 

[WaveJumper]

In fairness to the above I think the links provided the proof in his links (a little snap shot below) & don't forget some of the largest funds out there are trading and holding ******

Bitcoin Owners	106 million
Daily Bitcoin Users	400,000
Bitcoin Wallets	200 million
Bitcoin Traders	53 million
Daily Bitcoin Transactions	270,000
Americans that heard of Bitcoin	89%
Americans that own Bitcoin	22%

 

[fisicx]

The question was more about the number of businesses that use bitcoin in their daily transactions rather than those that just hold ******.

I rarely see any online stores offering the opportunity to pay using bitdoges or whatever.

 

[Mark T Jones]

In fairness to the above I think the links provided the proof in his links (a little snap shot below) & don't forget some of the largest funds out there are trading and holding ******

Bitcoin Owners	106 million
Daily Bitcoin Users	400,000
Bitcoin Wallets	200 million
Bitcoin Traders	53 million
Daily Bitcoin Transactions	270,000
Americans that heard of Bitcoin	89%
Americans that own Bitcoin	22%

Let's be honest, there is a very high muppet quotient in ****** investors I'm inclined to say the majority are muppets, but in reality it might just be that they make the most noise. In any case, it attracts far more muppets than any other investment vehicle (BTL would be its equal if it wasn't for financial barriers to entry and actual work involved)

Unlike smart investors who will use it as part of a strategy, the muppets give themselves away with fanatical devotion, Facebook wisdom, and by shouting when the market is rising and going silent when it stagnated or falls.

As a mature investor, you will undoubtedly be able to use that noise and silence to your own advantage

 

[WaveJumper]

The question was more about the number of businesses that use bitcoin in their daily transactions rather than those that just hold ******.

I rarely see any online stores offering the opportunity to pay using bitdoges or whatever.

Yep true but many of these platforms actual offer the facility to link a credit card to your account these days for every day transactions.

Not particular related to the above discussion but there's a whole 'new world' out there, just on your average trading platform these days, free trading, interest held on shares you own, interest on daily balances held on the funds (current uninvested money) in your trading account.

Again deviating a little (as it might sound like I am sticking up for the ****** scene) I think an age when and it might come the world becomes or try to becomes totally reliable on digital currency is a very big concern. The government who then control that have total power and can turn it off an on at their will ......... cash is still king in my book

My boys never have cash all online and don't even have a credit card it's all Apple pay and they laughed their bloody heads off last night when I used mine for the first time in the restaurant. Reminded me and the wife of the time we got the Black Sabbath album out to prove a point over a single Ozzy's daughter had brought out. They stared in disbelief and fell about laughing "whats that black thing" oh how times have changed ........now they out selling CDs

Off to clean the car now before it snows

ps
latest re-mastered Close to The Edge series £99 bit steep for us pensioners

 

[japancool]

When was the last time you paid for something with share certificates or gold bullion?

Bitcoin is the same.

 

[MikeJ]

Nobody describes other assets as currency though.

Again... ^^

But it's different to shares and gold bullion in other ways. There's a demand for gold outside of speculation. It has industrial uses, and for jewellery too. Holding shares in a company mean you own part of that company. You can look at how that company is performing, and make a judgement on its prospects going forward, and decide if that is a good investment.

Bitcoin is purely a gamble.

 

[Nathanto]

When was the last time you paid for something with share certificates or gold bullion? Bitcoin is the same.

It's not the same though. Bitcoin was designed as and is described by practically everyone as a currency; shares and gold bullion are not.

The issue with Bitcoin is that after well over a decade it's a currency that still cannot be used in literally 99.99% of businesses worldwide.

As a currency it's been a complete flop but as a speculative punt it's been a great gamble for many people. The problem with gambling is that your luck will always run out eventually...

 

[MikeJ]

As a currency it's been a complete flop but as a speculative punt it's been a great gamble for many people. The problem with gambling is that your luck will always run out eventually...

Not quite. It's been very useful as a method for criminals to get money out of people during extortion scams.

 

[fisicx]

As has been said many times before, until I can go to the pub and buy a pint or get a tin of beans from Tesco using my ****** bank card it’s not ever going to replace fiat currencies. And of course that pint needs to cost the same number of Trump coins this week as it did last week.

 

[japancool]

It's not the same though. Bitcoin was designed as and is described by practically everyone as a currency; shares and gold bullion are not.

Just because "jellyfish" has the word "fish" in it, it's still not a fish. It's no more a currency than a krugerrand is.

 

[Nathanto]

It's been very useful as a method for criminals to get money out of people during extortion scams.

Even on that supposed benefit there are question marks. The FBI managed to recover millions in Bitcoin from an otherwise successful ransomware attack which suggests that Bitcoin transactions are not as anonymous as some people think.

Just because "jellyfish" has the word "fish" in it, it's still not a fish. It's no more a currency than a krugerrand is.

Well it is a currency as it can be used for the exchange of goods and services, it's just not a very good currency as it can't be used in 99.99% of businesses.

 

[Kerwin]

successful ransomware attack which suggests that Bitcoin transactions are not as anonymous as some people think.

Most people who want anonymous transactions use Monero or similar.