Bitcoin's and mining. Discuss. 2014 flashback update pg7/8

[Donald]

I think I used the term late too loosely. I mean relevant to me, as in too late to put in what I can afford to lose slash too late for me to make what I would call a decent profit vs risk. This is all of course personal to me and linked to my financial situation. No doubt there is money to be made but for me it's too marginal. Working on an example of say, me buying now at 700 and selling at let's say a possible future value of 1000, that's risking 700 to make 300. Obviously that is a very vague example based on nothing, but at this point where the sums of money involved are quite high (again to me), the profit margin isn't enough. And of course the less you're prepared to put in, the less you can make. But yeah, a terrible example based on no fact = might as well be Ace Ventura doing butt voice.



Obviously you have to risk something and it all comes down to who has the biggest genitals.

[Donald]

And also I've neglected to mention that you can always get something back, even if it's a net loss.

Not to mention this is me making an assessment based purely on buying/sell, whereas the major money IMO is in mining. All too vague and not enough stability/info for anyone to make a universal judgement on the merits of the investment tbh.

[lewd lude lover]

to be honest I am suprised that with all the techy guys on here that there are not afew people mining already or that have not got personal mining experience.. Or at least a little bit of actual experience. seems not. This tells me that the vast majority of people are yet to hear about it which means there is still a lot of interest to be generating. soon as you can pay for your online tesco order or paypal with it the general publics gonna jobby the bed.

I honestly thought it might have reached more people in the club and that this would have generated a more technical discussion than the ''doom and fire'' that seems to have come across (with the exeption of TRM who sems to be a trader by heart ). Oh well.

@donald: of course, i forgot your INTJ would comment predominantly from only your own perspective. I'll sell you some Satoshi's (.00btc) when I got more in my wallet than .3371

[Donald]

The technical aspects I know next to nothing about really, probably a major factor in it for me anyway

As you say though the general public knows not a lot about this, and probably the rep it has within less savoury internet circles has added to that.

No doom and fire from my end either BTW, just subsized testes when it comes to my own coin.

[lewd lude lover]

just subsized testes when it comes to my own coin.

same but I just want to go gold mining in the klondyke or go slucing gold in NOME but I cant so maybe this will be a nice sideline that still involves investment and some luck. fingers crossed.

[wurlycorner]

The reason I think it's Bollocks is because I just don't see the need for bitcoin.

I can already pay for my Sainsbury order with bank card, online or in person.
I can already order anything from anywhere in the world with my bank card.
I can already transfer money to any other bank account in this country, for free, instantly.
I can even transfer money to any bank account anywhere else in the world that has an IBAN number (don't know about costs or time, because I haven't looked into it but I think also very quickly and for bugger all cost).
Businesses have been able to do all the above for years.
If I really want to send money to anyone or anything else that doesn't have an IBAN, I can use evil PayPal.

You can already link your phone to your bank account, so you can pay with that - it's been around for donkeys years and nobody's gone for it because it's pointless, solving a problem that doesn't exist. And soon enough it'll be nfc, if you really want to do it that way.

So to me, why the drokk is there a need for bitcoin?
It seems to me to be just another excuse for a sad spotty geek sat on his own in his bed room to get excited enough about so that he can Clubbing Eddy over his hard drive...


Doubtless I'll now be informed of all sorts of things that I don't know about the subject and have offended various people by providing a stereotype for a geek - apologies for that latter, not my intention to offend, just to make a point.

[Ted]

[Donald]

Doubtless I'll now be informed of all sorts of things that I don't know about the subject

If I had the patience, yes.

You're talking about means to spend/transfer/use the currency you have, which yes is quite varied compared to that of BTC, but every currency has to start somewhere. Sumerians didn't have debit cards. This is about the emergence of a new currency, not so much how you can move it about. You've missed the point.

I can even transfer money to any bank account anywhere else in the world that has an IBAN number (don't know about costs or time, because I haven't looked into it but I think also very quickly and for bugger all cost)

One thing I will comment on though that is very relevant to a point you've made is transfer fees. Bank transfer/Paypal fees are relative to the amount of money you're sending. BTC fees are usually independent of the amount.

But that's not what we're talking about really.

It seems to me to be just another excuse for a sad spotty geek sat on his own in his bed room to get excited enough about so that he can Clubbing Eddy over his hard drive...

And don't tell me that if your bank account was full the the brim you wouldn't be wanking over your monthly statement

[lewd lude lover]

great. truly great. I agree with you but the 205 million dollars transacted within the bitcoin network in the last 24hours disagrees with you. There a lot of people see it as a viable currency in a world beset with inflation of promissory notes (cash money) which are only as strong as the government that backs them. We live in a land where our currency is one of the big boys but most of the world does not.
If you lived in india and you wanted to do business with someone in germany and you wanted to send them 17,000£ you would be paying upto 8% fees on the exchanges and IBAN etc, for exactly the same amount of money but in different bits of paper. That is drokking insane. If you had bitcoins you could send him his payment instantly and with a level of security not available on standard transactions for about £3. Where is the downside? Just because you cant see a use 'within your life' matters not. Your whole argument rests on ''I'' and there are another 7 billion people out there with other needs than you.
you missed the point

[lewd lude lover]

So to me, why the drokk is there a need for bitcoin?

Edit for time frame:

is there a need for credit cards?

is there a need for debit cards

is there a need for bank accounts

is there a need for banks

is there a need for groats?