Bitcoin, Crypto and Stocks |
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Borussia
Roy Keane Joined: 14 Oct 2010 Location: UK Status: Offline Points: 10750 |
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Wouldn't call myself any sort of an expert either ! Somebody told me this morning they were considering buying Ripple : I obviously asked them if it was Strawberry or Raspberry.
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Trap junior
Robbie Keane YBIG Minister of Doom & Gloom Joined: 25 Jan 2010 Location: Irish Riviera Status: Online Points: 39840 |
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Yes that's what I read. Does this sound like Pokemon Go for investors? |
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Pied Piper to: Baldrick, Brendan 88, 9Fingers, Borussia and more...
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MC Hammered
Jack Charlton Joined: 05 Oct 2011 Status: Offline Points: 6871 |
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I could well be wrong on that point alright Borussia. My understanding of the subject is mainly gleaned from pub talk with unreliable punters.
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El Puto Amo
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Borussia
Roy Keane Joined: 14 Oct 2010 Location: UK Status: Offline Points: 10750 |
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"So you have a increasingly massive global interest in it (demand) set against a small and not growing supply" - From what I understand, this isn't quite true. There is a cap on the total number of Bitcoins that can exist (Think it might be 21 Million though could be wrong) but they have not all been mined yet.
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Trap junior
Robbie Keane YBIG Minister of Doom & Gloom Joined: 25 Jan 2010 Location: Irish Riviera Status: Online Points: 39840 |
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But Bitcoin doesn't exist in any physical form so it's like buying a limited supply of thin air. That's my interpretation of it anyway. It's confusing shady area imo. |
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Pied Piper to: Baldrick, Brendan 88, 9Fingers, Borussia and more...
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MC Hammered
Jack Charlton Joined: 05 Oct 2011 Status: Offline Points: 6871 |
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Bitcoin found a niche for allowing people to make transactions online which were difficult to trace. So if you wanted to buy/sell drugs, guns, whatever on the internet then you could do so relatively anonymously. There are ethical issues at play and I'd imagine that's why the founders are happy enough to fly under the radar. The thing that would concern me is that they are purposely not producing more Bitcoin. So you have a increasingly massive global interest in it (demand) set against a small and not growing supply. Obviously prices skyrocket under those conditions. And that leads to further demand but still no more supply. That's a bubble. |
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El Puto Amo
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BigPodge
Paul McGrath I'm the Gaffer Joined: 18 Feb 2008 Location: 123 Fake Street Status: Offline Points: 17370 |
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A single fella I'd imagine, what attached man has 50k in life savings
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Trap junior
Robbie Keane YBIG Minister of Doom & Gloom Joined: 25 Jan 2010 Location: Irish Riviera Status: Online Points: 39840 |
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I read up a little on it over the last day or so. The founder(s) of it are anonymous. Just a tad shady. Why is that I wonder?
How does one cash in their bitcoin for proper money like Euro? From what Iread you have to find some other lad online to buy them off you. Is it just me or is it like buying thin air that someone says has a value and that value is going up? Also what the f**k is ''mining bitcoin''? There are other cryptocurrencies like TJ Coins to invest in now too. |
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Pied Piper to: Baldrick, Brendan 88, 9Fingers, Borussia and more...
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MC Hammered
Jack Charlton Joined: 05 Oct 2011 Status: Offline Points: 6871 |
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It's an unregulated market at the moment afaik
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El Puto Amo
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McG
Moderator Group SISAO? What the hell is SISAO? Joined: 27 Jan 2008 Location: Christmas Island Status: Offline Points: 27001 |
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Who regulates it?
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YBIG Table Quiz winner 2016 & 2017
AS YOU WERE McGx |
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MC Hammered
Jack Charlton Joined: 05 Oct 2011 Status: Offline Points: 6871 |
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I'm not a fan of the man but Jordan Belfort is speaking sense here. |
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El Puto Amo
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Whelo79
Davey Langan Joined: 15 Feb 2012 Location: Dublin Status: Offline Points: 772 |
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If he invested €50k in January I'd guess he's worth closer to the €1m already. The price in Jan was between $750 and $1000 depending on when he bought. It's at $17k as of today. €50k might have bought around 60 bitcoin. Total now of $1,020,000.
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Trap junior
Robbie Keane YBIG Minister of Doom & Gloom Joined: 25 Jan 2010 Location: Irish Riviera Status: Online Points: 39840 |
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How is it a currency. There is nothing to back it up. Real currencies have gold etc to back it up. Sounds like a total make believe story unlike my currency which has gone up in value again.
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Il Principe
Davey Langan Joined: 30 Mar 2012 Status: Offline Points: 961 |
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It's a 15 or 25 year investment imo, by that stage we will all be using it
the facebook of currency will devour every threat it sees
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rossieman
Roy Keane Joined: 01 Apr 2011 Status: Offline Points: 14254 |
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As the songs goes
"You've got to know when to hold 'em Know when to fold 'em." The smart move is to take some cash now,gambler or not.
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Zinedine Kilbane 110
Jack Charlton Man City records obsession Joined: 20 Mar 2012 Location: Dundalk Status: Offline Points: 9647 |
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A gambler would be holding on to bigger gains!! It all depends on your attitude to risk. If it was me I would be selling out 50% of it but I wouldn't have put my live savings on it in the first place. How do you know it wont go to $25K in the next month, or $50K next year. What you dont want to be is the last person to buy it!!! |
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9fingers
Paul McGrath Ballymun Resident #MONKEANO Joined: 30 Jan 2010 Status: Offline Points: 16144 |
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As a gambler I’d be getting out now. You have to have to know when to take a win. And as someone who’s watched bitcoin with interest I’d be getting out now too. Fair play to your man tho, life changing decision & massive bollox to go n do it |
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SuperDave84
Robbie Keane ooh Thomas, how could you do this to me! Joined: 26 Aug 2011 Location: Far Fungannon Status: Offline Points: 21384 |
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Exactly. He can bank an absolutely tidy sum now on what is looking like a classic bubble: an asset of dubious intrinsic value being traded solely on the basis of its potential appreciation in value. It's f**king Wolf of Wall Street stuff at the minute: he's definitely best advised to take some of that cash out. Were it me having held off this long, I'd definitely take €200k of it out now and, if it keeps going up, another €20k per month for the next few months. I know the general advice has been that sticking is bad but the longer he sticks, the more he stands to lose rather than gain. This isn't a cash out from Paddypower for €60 on a €10 acca, it's genuine, life changing, mortgage clearing cash. |
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