Reply to: On January 15th, 2015 £134 would have bought you a bitcoin

[d000hg]

Because it's not tied to the news in a given country? Because people buy it WHEN traditional currencies are risky? Because it's a bubble?

[LondonManc]

Read some more over the weekend, sounds like Zcash naaa not to much but Monero a replacement for Bitcoin. Monero restores anonymity that bitcoin has lost.

Does make you wonder though.

Potentially worth £100 on each one, punting on the long term of one of them taking off. If you'd have bought £100 of Apple shares in 2004, they'd now be worth about £8000.

[scooterscot]

There will be attacks (actual and reputational) on all cryptocurrencies that are not government-backed. They weaken fiat currencies because they aren't susceptible to country shocks; as such, they are an enemy of the state.

Read some more over the weekend, sounds like Zcash naaa not to much but Monero a replacement for Bitcoin. Monero restores anonymity that bitcoin has lost.

Does make you wonder though.

[LondonManc]

So what about the new currencies, Zcash and Monero? I know nothing about them except in name. Media tells us that bitcoin is dying because lack of regulation and traceability. But if anything I think that's a reason for even more growth.

There will be attacks (actual and reputational) on all cryptocurrencies that are not government-backed. They weaken fiat currencies because they aren't susceptible to country shocks; as such, they are an enemy of the state.

[original PM]

Bitcoin is no more 'imaginary' than any of the fiat money we have in the world

Indeed - in fact the more you think about money, how to make money and most importantly how virtual money sitting as a bunch of 1's and 0's in a computer can actually make tangible money you can spend - the more you realise it is a huge sham.

[blackeye]

Bitcoin is no more 'imaginary' than any of the fiat money we have in the world

[DaveB]

So what about the new currencies, Zcash and Monero? I know nothing about them except in name. Media tells us that bitcoin is dying because lack of regulation and traceability. But if anything I think that's a reason for even more growth.

Bitcoin is not necessarily dying, but it is becoming less popular because it is coming under greater scrutiny and the financial authorities are starting to push for regulation. Its also been the subject of a few high profile collapses in BitCoin Exchanges - the equivalent of Banks for bitcoin where you buy and sell them and they are stored in escrow in a supposedly secure wallet for you - where they have either had their bitcoin inventories stolen or simply upped and vanished with their members "money".

[vetran]

but she was kind enough to let me keep one as a reminder.

we are talking about bitcoin not your testicles.

[DimPrawn]

You wish. You really really wish.

I had to give 9,999 of them to the ex-wife as part of the settlement, but she was kind enough to let me keep one as a reminder.

[scooterscot]

So glad I bought 10,000 of them a few years back.

You wish. You really really wish.

[scooterscot]

So what about the new currencies, Zcash and Monero? I know nothing about them except in name. Media tells us that bitcoin is dying because lack of regulation and traceability. But if anything I think that's a reason for even more growth.

[DimPrawn]

So glad I bought 10,000 of them a few years back.

Now finally, I can afford a deposit on a bedsit in London.

[BrilloPad]

PS - has noone blamed Brexit yet? Shame on you......

[BrilloPad]

You think the pound is a real currency? Due to FIAT paper is almost meaningless.

The only true currency is London property.

[greenlake]