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Bitcoin FAQs

Back in 2014 I started hearing about Bitcoin and being inquisitive I researched it and found out how to buy some, which I did. I then promptly ignored them and carried on with my fumbling attempts to make money out of other things.

In fact, I couldn’t remember what my details were and how to access them.

Whilst clearing out some old paper work recently I stumbled across where I had written down my account details, so I logged into Blockchain and my bitcoins where still there and what was more pleasing I was sat on a 10 bagger.

Now at this point you are probably thinking “Smug Bastard” but no I was kicking myself.

At the time, I purchased I had thought “What am I going to do with them and they will probably go belly up as a scam and I only bought 0.1 bitcoins. Yes, I risked a massive £21 which is now worth £210 as I type.

So, I am now sitting thinking why didn’t you buy 1 or 5 or 10 for God’s sake it would not have broken you at the time.

So Doh! This making money game is easy when looking through a rear-view mirror.

I will hang on to my small stake and maybe it will 10 bagger again and I still don’t know what to do with them, but things are changing.
M

Hil.

If I understood what you are up to I might agree with your decision.

I have an appointment with my grandson later and will ask him.

Chap from CoinShare on CNBC advising investors look at other cryptocurrencies so as to spread the risk:
1) Litecoin (LTC)
2) Ethereum (ETH)
3) Zcash (ZEC)
4) Dash. ...
5) Ripple (XRP)
6) Monero (XMR)

Bitcoin down nearly 10% in the last hour.

XTB Closing all CFD Trading from today on Crypto currencies. All open trades closed in New Year.

All good points, yet none that really pushes up the price//value of BTC. That reports of HDD failure wipe out yr savings must be wrong.... yet this isn't the first time it's been suggested.
The EU possibility of a "Register" would eliminate this (presumably?), and would collar the Criminals.... This is similar to the Banks saying their losses on Fraud are "only 1%" -so they let it continue.... yet they are funding criminal behaviour and should at least be fined an amount equal ( or double?) this amount to assist law-enforcement.
Then there was a Report that suggested the energy used to maintain the computers was becoming silly..... ( Anyone? ).... so that is also growing exponentially, if punters are to be believed.
AFAIK there is no limit to the number of Bitcoins... they are in effect the prime numbers which are generated by computers - the trouble being that as the prime numbers are maybe a million-digits long.... finding the next one is mighty troublesome, since every "new-number" has to tested for division by every number that's less. I think ( but don't know), this is where the computing-power is being used. As Bitcoin numbers increase their price rises, maybe in part due to the "cost of mining" - so, it's unlike anything else on earth....
That's where the problem lies IMHO - how can anyone put a "Value" on something so "Will-O'-the-Wisp" -
Er,
Cryptobabble = bargepoles

As the American investor guru, Warren Buffet, once told us, "I don't invest in anything I don't understand."

Bitcoin has gone so high now, that the chances of making any money from a punt on it, just have to be so very low, that it just isn't worth doing anything other than 'watching it from the sidelines'.

Since he was 'the bookies favourite' and just out of an amplification of interest, I was going to put £50 on Anthony Joshua to win SPOTY. But I didn't.

Joshua didn't even make the first three! Mo Farah won it and he wasn't even in the running. Please excuse the pun.

Hey Hilary have you got that Bitcoin mining going and dumped them on the Market? Big falls!

Lol, Martini. Not guilty. :o)

CEO dumps his Bitcoin, issues warning
Guy Gentile.
December 27, 2017
Chester Robards

The CEO of local online trading firm Swiss America Securities, Ltd. said he has dumped all of his Bitcoin, explaining that he thinks the cryptocurrency “bubble” is beginning to pop, though a press release issued by his company’s subsidiary Suretrader suggests people may simply look at other cryptocurrencies as Bitcoin’s value fluctuates.

Guy Gentile said he knew when the Bitcoin revolution became popular he would dump his cryptocurrency, believing that the movement is simply a fad.

“I always told myself that when everyone starts talking about it, I’m out… and (it’s at) that point,” said Gentile in the release.

“When retail starts buying, who is going to buy after retail? No one is buying after retail; they are the last ones in.”

The release said about 24 hours after Gentile made his predictions publicly, “Bitcoin began to rapidly decrease”.

“On Friday the most popular cryptocurrency dropped by more than 47 percent to $10,400 after trading at a record high of over $19,700 at the beginning of the week,” the release said.

“With most digital currencies in the red, the coin market saw a $200 billion devalue.”

The Suretrader release explained that companies could begin using the popularity of cryptocurrency to create what it termed “pump and dump” schemes.

He said some companies have changed their names to those that link them to the cryptocurrency market and have seen their stocks rise as a result.

The release cited the New York-based beverage manufacturer Long Island Iced Tea Corp.’s adjustment of its name to “Long Blockchain Corp.” as a decision to “leverage the benefits of blockchain technology”.

“After its announcement, Long Blockchain Corp.’s stock value rose over 200 percent, joining other companies including another beverage manufacturer that saw a drastic increase in its stocks after their own announcement,” the release stated.

Gentile said the actions of the companies reflect the classic traits of a “pump and dump” scheme. Companies change their names to something trendy, line up press releases, run up their stock, and then a secondary offering follows, causing retail buyers to be burned in the end.

According to Gentile, who spent years investigating penny stocks for the Federal Bureau of Investigation, companies that do this kind of investment are desperate for capital.

The release explained that regulators should surveil stock that has been trading at 100 percent for too long.

“To prevent buyers from being burned by pump and dump schemes and new coin investments, regulators should halt transactions after a stock has been trading over 100 percent all day, giving it time to cool off so that it can begin trading again the next day,” the release pointed out.

Bahamians have taken a keen interest in Bitcoin, and even The Bahamas government is deciding whether it should look at developing its own cryptocurrency and join the hype.

Live trades:

https://cryptowat.ch/bitfinex/btcusd

Hi guys compliments of the season all round and here is to a very happy healthy and prosperous New Year.

This is not meant to be a negative post so please take it as posted honestly even though I am no non asset backed Crypto fan.

I hold Lionsgold and we are planing our gold back crypto currency launch in India , hence my interest in events there.


Through this I found the following, plz make of it what you will:

Please read....this hxxp://www.lse.co.uk/AllNews.asp?code=j2n2gmgj&headline=India_Equates_Cryptocurrencies_To_Ponzi_Schemes_In_Warning

Bank of England plots its own bitcoin-style digital currency


By Robert Mendick, Chief Reporter
30 December 2017 • 12:25pm




The Bank of England could green light its own Bitcoin-style digital currency as early as 2018, The Telegraph can disclose.

A research unit set up by the Bank is investigating the possible introduction of a crypto-currency linked to sterling.

If approved, a virtual currency issued by the bank would pave the way for a revolutionary shake up of high street banking.

A Bank of England-issued digital currency would potentially allow British citizens to keep their money - in digital form - with the central bank itself, dispensing with the need for a retail bank. Big-ticket transactions, such as buying a house, could happen in nanoseconds.

The research unit was set up in February 2015 and, according to a Bank of England spokesman, could report back within the next 12 months.

The Bank has been trialling technology for digital transactions, using the same technology that underpins Bitcoins and other...


More if you register: http://www.telegraph.co.uk/news/2017/12/30/bank-england-plots-bitcoin-style-digital-currency/

Australian Banks Reportedly Freeze Accounts Of Bitcoin Users


by Tyler Durden

Sat, 12/30/2017 - 20:30


Adding to the pressures on bitcoin early this morning, the Sydney Morning Herald reported that bitcoin users across Australia are reporting that their accounts have been abruptly frozen by the country’s “Big Four” banks. And while the banks have remained largely tight-lipped about the closures, many angry account-holders are jumping to conclusions and blaming the banks for punishing them because of their involvement with bitcoin.



More: https://www.zerohedge.com/news/2017-12-30/australian-banks-reportedly-freeze-accounts-bitcoin-users


http://www.smh.com.au/business/bitcoin-tensions-rise-as-investors-claim-banks-freezing-their-accounts-20171229-p4yy3z.html

How can you run up an electricity bill like this for something that doesent exist?


https://btcmanager.com/three-american-states-cheapest-mining-bitcoin/

https://techcrunch.com/2018/01/15/researchers-finds-that-one-person-likely-drove-bitcoin-from-150-to-1000/


Is this for real?

try tech financials tech & cedex to trade bit coin, tech to receive dividends, note
alaskan gold, the shovels made the secure money. BB

http://www.bbc.co.uk/news/technology-42872610

In 2014 Revenue & Customs published guidelines making clear the different taxes that apply to any earnings from crypto-currencies.

For most people who have bought a few bitcoins some years ago, it is Capital Gains Tax that will be relevant.

This will apply to any profits, once you hit the £11,300 CGT threshold, not just if they are converted into a standard currency but if they are used to buy other crypto-currencies such as Ethereum or to invest in initial coin offerings (ICOs).

But in recent weeks there is some evidence that a few people are making trading in crypto-currencies a full-time job, in which case they are likely to be liable for income tax on their earnings.

S.Korea says uncovered about $600 mln in cryptocurrency crimes