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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

Word

Not bumcoin, but real money news..


https://www.rt.com/business/411763-russia-china-set-gold-price/

Thanks for that link, Martini.

I had seen it before, but it made a lot more sense reading it a second time.

So, if I've got it right, the new Bitcoins are issued as a reward to those who do the mining??? I'd also read in another article somewhere that there was no real profit in mining, and that people did it for 'love' and because they could. I'm now starting to wonder how old that particular article may have been, and whether it were written some years ago at a time long before BTC was trading at £7k or £8k?

Treasury crackdown on Bitcoin over concerns it is used to launder money and dodge tax



By Robert Mendick, Chief Reporter and
Gordon Rayner, Political Editor

3 December 2017 • 9:30pm




Ministers are launching a crackdown on the virtual currency Bitcoin amid growing concern it is being used to launder money and dodge tax.

The Treasury has disclosed plans to regulate the Bitcoin that will force traders in so-called crypto-currencies to disclose their identities and report suspicious activity.

Until now, anybody buying and selling bitcoins and other digital currencies have been able to do so anonymously, making it attractive to criminals and tax avoiders.

But the Treasury has now said it intends to begin regulating the virtual currency, which has a total value of £145 billion, to bring it in line with rules on anti-money laundering and counter-terrorism financial legislation.

The new rules, which will be applied across the European Union, are expected to come into force by the end of the year or early in 2018, the minister in charge has said.



http://www.telegraph.co.uk/news/2017/12/03/bitcoin-crackdown-amid-fears-money-laundering-tax-dodging/

The unlucky man who accidentally threw away bitcoin worth $100 million

I posted some comments on Cryptocurrency on ONLINE comments.(qv)...
- Is this an illusion? I do wonder..... sure there are stories of being unlucky - we have all(?) Sold a stock, only for it to rise beyond belief... but the fundamentals remain that no-one can hold it physically. At least for now there are "Share Certificates" which can be held in the Bank.... but our money will soon become an illusion ( mobile phones and Similar tech)..... giving plenty of opportunity to clever crooks - or Foreign Gov, short of money.
Present valuation is quite mad, but it may continue... don't forget ( history) the Dutch Bulbs.... Oooer!
Can one bet when it will begin to fall, say first 10%?

I'm sure IG will oblige!

Link copied :-

CBOE Bitcoin futures to launch Dec. 10, with hedge funds prepping Big Short

Tulip mania

General interest:

CryptoKitties craze slows down transactions on Ethereum

http://www.bbc.co.uk/news/technology-42237162

As I type my £21 punt of bit coins are worth roughly £1016 a 50 bagger.

So I have sold £500 and will run the balance.

Sigh M

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Who needs oil and gassers when you can have bumcoin?

Even bigger sigh, missed it entirely :-(

Bitcoin rises above $14,000 on Bitstamp to record high

$60m worth of Bitcoin stolen by hackers.

Our friends over at ADVFN have now removed the DAX chart from their header page and replaced it with Bitcoin.

And what happens if it's your Bitcoin that gets stolen. Who's paying to replace it? I assume no-one

Bit like someone stealing your wallet. The bank of England won't refund you for the cash you have lost.

Some wallet!

Bit a bitcoin - hold for 2 days and make 50%.

omg - you could make money by holding for half an hour.

No wonder FTSE won't go up - all the speculative money is on bitcoin

Yes crazy isn't it!