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Acid In The Punch Bowl

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Everything posted by Acid In The Punch Bowl

  1. I wonder when the first feature film will be made about Bitcoin and which element it will cover. My guess would be the mtgox story, or maybe Silk Road. I know there's been documentaries, but I mean a full on Hollywood movie, similar to the Steve jobs and Julian assange movies
  2. Bitcoin could be seen as a meritocracy, as in the people who recognised it's worth first received the greatest benefit. However it seems like the argument that only those who have bitcoin will end up making money out of cryptocurrencies it is like arguing in 1999 that the only people who will make money out of the internet are people with amazon.com shares. there is going to be massive growth in this industry, who knows who the winners and losers will be. Also to add to the previous discussion, buying bitcoin is optional, utterly different to a bubble in a necessity like housing.
  3. Funny to think of all those drug purchases in the early days. Must be a few stories like the classic Pizza tale. Imagine you bought a gram of coke when bitcoin was $5, and it cost you 20BTC. Those would be worth $80K now. Hope it was a good high, bet theres a few people kicking themselves.
  4. Yeah it might seem that everyone here is talking about the price, but see it from the point of view of people who bought in a while ago. We have been having incredible debates in this thread for 4 years and 186 pages. I personally have learned so much here. Now look at the Bitcoin chart for the last 4 years, you can forgive us for getting a bit wowed by the outcome! But personally for me the attraction is still the philosophical idea behind Bitcoin and that ties in with the discussions on this site wrt problems in the economy/banking in general. So bubble or no bubble I'm here for the ride, not the profit.
  5. Yeah Bitcoin's now worth proper money. Or maybe it's just that Bitcoin is proper money
  6. http://www.mirror.co.uk/money/100-bitcoins-2010-would-worth-10928929 Interesting that it's covered in papers like the mirror and the express now. I got interested in Bitcoin from a philosophical pint of view, all the stuff we talk about here, central banks, fractional reserve banking, QE etc. Funny that it gets covered in the press, with plenty of talk about price, and a gloss over of the tech, but never about the actual point of it. I wonder if it will have a positive effect on the plebs, in that a load of people will buy it to profit, end up reading bitcoin forums and learn a thing or two about how the world works. Not the way it should happen, but a net positive.
  7. London’s exodus offers a stark warning to other UK cities: your culture is at risk https://www.theguardian.com/commentisfree/2017/aug/04/london-exodus-warning-uk-cities-culture?CMP=Share_AndroidApp_Copy_to_clipboard Normal Guardian article that completely misses the point, but read the best rated comments (skip past the guardian picks). Seems like Guardian readers just took a massive red pill.
  8. It's not the high that's strange, it's the split and the fact that Bitcoin Cash seems to be valued relatively highly, while that seems not to have affected the price of Bitcoin.
  9. I don't really get it. Bitcoin cash is now worth $600. So if you owned a bitcoin yesterday it was worth about $2800 You now own a bitcoin worth $2700 and a bitcoin cash worth $600 Is that correct? So those who owned bitcoin are now smashing all time highs ($3300 cumulatively)?
  10. Yeah could be popcorn time over the next few days. Interesting to see what happens. I think a lot of the exchanges will close on the 1st Aug until the dust settles, but will make price discovery interesting. What forums/exchanges provide a good running commentary/ringside seat to see it unfold?
  11. I always look back to this graph for perspective. Longest timescale possible, in log scale: https://bitcoincharts.com/charts/bitstampUSD#tgSzm1g10zm2g25zvzl There's a pretty clear trend and yeah £1250 ($1600) is where we would be without the recent highs. I don't expect things to be predictable though.
  12. Bip91 lock-in threshold achieved. Big day for Bitcoin. Never boring. Edit to add: https://bitcoinmagazine.com/articles/bip-91-has-activated-heres-what-means-and-what-it-does-not/
  13. Just had to post this here because it seems so weird. Daily Express giving LIVE updated on the "Bitcoin crash" http://www.express.co.uk/finance/city/829537/bitcoin-price-value-usd-ethereum-markets-currency-bubble-burst Is it a reverse shoeshine moment? If the express says don't buy, maybe this is the bottom before the next leg up.
  14. Anecdotal. Was chatting to someone working in CGI on movies and commercials. This profession works on big projects with big international teams of high skilled people. There are so many Italians looking for work, that they now earn less than the Indians in the same jobs. Not talking average Indian wages here, these are professionals, but still. So well done the EU for that!
  15. A true bubble forms when leverage is used to purchase the product. Is that happening anywhere in the Crypto ecosystem yet?
  16. I come from a well off part of the country and I'm not that young. My peers should be staunch conservatives by now, but it amazes me how many are posting pro Labour posts on Facebook. Some of them are what you would describe as aristocracy, not joking. The Tories missed their chance of winning the next generation over. Saying that, people who work in the city and would vote Cons simply don't participate in Facebook so maybe just a biased selection.
  17. Would be great if someone could get a "falling rents is caused by S24" meme going. Get more people onside.
  18. I find the opposite is true. One of the left wing people I vaguely know wrote a post railing against S24 (calling it landlord tax), saying it was the tories crushing the little guy! I can't do political arguments on Facebook for work reasons, but sent him a PM explaining why it was a good thing. Turns out he was saving a deposit to buy his first house, so was massively in his interest. So utterly thick and had of thinking. Now posting simplistic stuff about Tories and Corbyn.
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