Bitcoin about to Pop

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pErvinalia
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Re: Bitcoin about to Pop

Post by pErvinalia » Fri Dec 22, 2017 3:07 pm

I reckon it's about to bounce. Is it a dead-cat bounce, though...? :tea:
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Re: Bitcoin about to Pop

Post by laklak » Fri Dec 22, 2017 5:23 pm

Could be, but if you time it right even a dead cat can turn a profit.
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Re: Bitcoin about to Pop

Post by JimC » Fri Dec 22, 2017 9:24 pm

pErvinalia wrote:I reckon it's about to bounce. Is it a dead-cat bounce, though...? :tea:
When quantum computing is used for bitcoin et al, the cat will be both alive and dead... :tea:
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Re: Bitcoin about to Pop

Post by Brian Peacock » Sat Dec 23, 2017 12:25 am

At least it's doing well against the Matabele Gumbo Bean.
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Re: Bitcoin about to Pop

Post by pErvinalia » Sat Dec 23, 2017 2:46 am

laklak wrote:Could be, but if you time it right even a dead cat can turn a profit.
did you buy, lak? It's up 22% since my post. :tea:
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Re: Bitcoin about to Pop

Post by rainbow » Sun Dec 24, 2017 9:26 am

laklak wrote:Could be, but if you time it right even a dead cat can turn a profit.
Image
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Re: Bitcoin about to Pop

Post by Hermit » Mon Dec 25, 2017 8:37 am

Bitcoin at risk of Chinese sabotage
Beijing could render the Bitcoin network effectively useless by taking control of the powerful computers used to maintain the digital currency, which are largely based in China, according to a report from security companies Hacken and Gladius.

...

The digital currency is maintained not by any central organisation but by a collection of "miners", computers that are rewarded in new Bitcoins for updating the ledger of all transactions known as the blockchain.

As Bitcoin has grown, it has required more expensive and powerful computers, and meant mining has migrated to parts of the world where electricity is cheap, in particular China.

Some 77.7 per cent of the "hashpower" - the computing strength behind Bitcoin - is now based in China, according to the report, leaving the network vulnerable. The majority of the specialised hardware used to mine Bitcoin is also made in China.

"It is obvious what this country can do to the network. [It] is over-exposed to China and the government can sabotage it," said Vladyslav Makarov, an author of the report.
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Re: Bitcoin about to Pop

Post by JimC » Mon Dec 25, 2017 9:25 am

It should be mandated that all bitcoin mining has to be powered by renewable resources of electricity...
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Re: Bitcoin about to Pop

Post by pErvinalia » Mon Dec 25, 2017 11:33 am

Bitcoin is a geeks' folly that has got totally out of hand.
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Re: Bitcoin about to Pop

Post by mistermack » Mon Dec 25, 2017 12:45 pm

There are a lot of people trying to take their profits, so it's dropping quick, because they got in so cheaply, they can afford to sell even if it crashes.
The ones who paid the top prices are trapped though, so when the profit takers are out, it might go back up.

If you could predict it though, you'd be a rich man. How easy is it to sell them for real money these days?
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Re: Bitcoin about to Pop

Post by Tyrannical » Mon Dec 25, 2017 12:46 pm

JimC wrote:It should be mandated that all bitcoin mining has to be powered by renewable resources of electricity...
There is a "Green" argument to have crypto currencies outlawed. Oilprice.com even had an article on how many barrels of oil it takes to make a bit coin, to use electricity cost as a floor price for a bitcoin.
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Re: Bitcoin about to Pop

Post by rainbow » Fri Dec 29, 2017 7:58 am

Tyrannical wrote:
JimC wrote:It should be mandated that all bitcoin mining has to be powered by renewable resources of electricity...
There is a "Green" argument to have crypto currencies outlawed. Oilprice.com even had an article on how many barrels of oil it takes to make a bit coin, to use electricity cost as a floor price for a bitcoin.
Cut out the middle man, and make the Erg the World Base Currency.
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Re: Bitcoin about to Pop

Post by Scot Dutchy » Fri Dec 29, 2017 12:49 pm

Apparently the mining computers are using as much electricity as the whole of Ireland.
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Re: Bitcoin about to Pop

Post by Brian Peacock » Fri Dec 29, 2017 4:41 pm

I'm going to start my own currency, called the Peacock. One Peacock is equivalent to two pheasants, or six guinea fowl. There's 24 blackbirds to the guinea fowl btw. It's informally know as pCoin, or just 'The P'. Soon you'll be able to pay for anything with P.
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There are two other possibilities: one is paperwork, and the other is nostalgia."

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"This is how humanity ends; bickering over the irrelevant."
Clinton Huxley » 21 Jun 2012 » 14:10:36 GMT
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Re: Bitcoin about to Pop

Post by NineBerry » Fri Dec 29, 2017 5:40 pm

But what Proof of Work does it use?

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