Bitcoin, Blockchain and Cryptocurrencies

9fingers wrote: It’s as simple as transferring money from a betting account to your bank account. TJ, here’s a mad idea, actually look in bitcoin, do a bit of research. You’ll be amazed at what you learn & you won’t come across like a spanner. And I don’t mean buy some.

I already did look into it briefly.  I wouldn't invest a cent into it.  Luckily for me I have enough cop on to know I am no financial investor yet even I can smell a rat.  There are some very smart people in the world out there laughing at the suckers investing in this and they will get rich while you lose your money.

The lads who invented it are anonymous. There's a red flag. There are governments cracking down on it. There's another.  People use it to sell drugs so they cant be tracked. Another red flag.  Its a massive bubble that people think they can become rich on.  It will never burst! This time it's different.

Just like random arseholes down the pub in 2007 telling me about their portfolios of properties and how smart investors they are this year its the  Bitcoin crazeand similar type of eejit.  Yer man with the portfolio of properties ended up out on hiss ear.
I was on the Liverpool FC forum lately just to look up something football related.  There is a load of people on there boasting about Bitcoin and Ethereum etc.. Everyone is an expert (or so they like to make out).

These are lads whose background wouldn't be in the financial world. Ordinary Joe Soaps. Plumbers, taxi drivers etc.. 



Please explain to me how I withdraw my 600,000 euro worth of Bitcoin.


Edited by Trap junior - 15 Feb 2018 at 8:48pm

http://forums.liverpoolfc.com/threads/363693-Crypto-Currency


Yer man says some wealthy friend told him to invest (sound familiar to the Celtic Tiger??)
That basically translates as ''I haven't a clue and follow advice blindly''.

He then goes onto say ''You would be a fool not to invest'' (sound familiar to the Celtic tiger bubble -Get on that property ladder!!??)

He then tells us that the Winklevoss twins have invested and it will be worth a fortune.  How many 'experts 'told us that property would be worth a fortune in 2004 and to buy buy buy??

Trap junior wrote: http://forums.liverpoolfc.com/threads/363693-Crypto-Currency Yer man says some wealthy friend told him to invest (sound familiar to the Celtic Tiger??) That basically translates as ''I haven't a clue and follow advice blindly''. He then goes onto say ''You would be a fool not to invest'' (sound familiar to the Celtic tiger bubble -Get on that property ladder!!??) He then tells us that the Winklevoss twins have invested and it will be worth a fortune.  How many 'experts 'told us that property would be worth a fortune in 2004 and to buy buy buy??

Reminds me of the Joe Kennedy quote prior to the Wall St crash in 1929 after being given a stock tip by a shoe shine boy


"You know it's time to sell when shoeshine boys give you stock tips. This bull market is over"


He sold up just before the crash

That post is from 2014

If you'd have of invested then, that investment would be worth a fair bit now.

It may become illegal or obsolete or whatever but early investors would have made a lot of money.

It's all about cashing out at the right time.

Denis Irwin wrote: Trap junior wrote: http://forums.liverpoolfc.com/threads/363693-Crypto-Currency Yer man says some wealthy friend told him to invest (sound familiar to the Celtic Tiger??) That basically translates as ''I haven't a clue and follow advice blindly''. He then goes onto say ''You would be a fool not to invest'' (sound familiar to the Celtic tiger bubble -Get on that property ladder!!??) He then tells us that the Winklevoss twins have invested and it will be worth a fortune.  How many 'experts 'told us that property would be worth a fortune in 2004 and to buy buy buy?? Reminds me of the Joe Kennedy quote prior to the Wall St crash in 1929 after being given a stock tip by a shoe shine boy "You know it's time to sell when shoeshine boys give you stock tips. This bull market is over" He sold up just before the crash

Exactly. You have 9 fingers there a mechanic by trade and he's now a financial expert who sounds like he could give a seminar on cryptocurrency.  Why are peoples identity kept anonymous on it the Blockchain etc?  Its just shady.

9fingers wrote: I certainly am not a financial expert, I’m commenting on this thread as otherwise it would be a lot of mistruths, dross and scaremongering from people who haven’t a clue what they’re on about.

So that makes two of us but only one of us is willing to admit it.  I stay away from things that even financial people struggle to understand.

Invest in it. No skin off my nose. I certainly won't be.

Trap junior wrote: 9fingers wrote: I certainly am not a financial expert, I’m commenting on this thread as otherwise it would be a lot of mistruths, dross and scaremongering from people who haven’t a clue what they’re on about. So that makes two of us but only one of us is willing to admit it.  I stay away from things that even financial people struggle to understand. Invest in it. No skin off my nose. I certainly won't be.

So if you've no interest in it why are you obsessed with it?

Edited by bhob - 15 Feb 2018 at 9:34pm

Il Principe wrote: 9fingers wrote: Trap junior wrote: 9fingers wrote: Using coinbase as an example, you can instantly sell up to €100k of bitcoin in any 7 day period. Your bitcoin is converted into your nominated currency, then transferred to whatever bank account you have connected to your coinbase account. I’d imagine that takes 2/3 days much like any other transaction Sell?  Who buys it?  You can't just convert to Euro? I’ve literally just explained to you how to convert it to euro i also have it in coinbase linked to my bank account, its like any other online transaction. as for the question who buys it , there are buyers and sellers, millions of them, they only way you won't be able to sell is when then price is zero

So the only way to get euro back from your Bitcoin is to get some sucker to buy 100,000 worth of Bitcoin from you each week for 6 weeks?

Il Principe wrote: Trap junior wrote: Il Principe wrote: 9fingers wrote: Trap junior wrote: 9fingers wrote: Using coinbase as an example, you can instantly sell up to €100k of bitcoin in any 7 day period. Your bitcoin is converted into your nominated currency, then transferred to whatever bank account you have connected to your coinbase account. I’d imagine that takes 2/3 days much like any other transaction Sell?  Who buys it?  You can't just convert to Euro? I’ve literally just explained to you how to convert it to euro i also have it in coinbase linked to my bank account, its like any other online transaction. as for the question who buys it , there are buyers and sellers, millions of them, they only way you won't be able to sell is when then price is zero So the only way to get euro back from your Bitcoin is to get some sucker to buy 100,000 worth of Bitcoin from you each week for 6 weeks? you really don't know how the market works do you