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The Bubbly Bitcoin Thread -- Merged Threads

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The recent price bubble has been due to China discovering Bitcoin.

Go to a casino sometime and you'll learn a lot about the Chinese.

Crashing back down today but it'll probably go down to $350 and then up to $2000... or maybe not... no, wait! All on black, double down!

Slightly more difficult to buy in the UK. Bittylicious, Bitbargain and local bitcoins for <£1000 purchases.

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Slightly more difficult to buy in the UK. Bittylicious, Bitbargain and local bitcoins for <£1000 purchases.

And are all the 'exchanges' quoting the same of nearly the same price?

What's a local bitcoin?

At $300 I'd probably put in a few shekels. What's best method for <£1000 and >1k please

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And are all the 'exchanges' quoting the same of nearly the same price?

What's a local bitcoin?

At $300 I'd probably put in a few shekels. What's best method for <£1000 and >1k please

localbitcoins.com

was great last week. however, the site has been creaking a bit (pages timing-out etc.) and prices have jumped in the last couple of days.

open an account and search for sellers accepting "National Bank Transfers".

Edited by Turned Out Nice Again

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localbitcoins.com

was great last week. however, the site has been creaking a bit and prices have jumped in the last couple of days.

Anyone tried bitbargain.co.uk?

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localbitcoins.com

was great last week. however, the site has been creaking a bit (pages timing-out etc.) and prices have jumped in the last couple of days.

open an account and search for sellers accepting "National Bank Transfers".

I've used "National Bank Transfers".on localbitcoins.com, things went smoothly. The website holds the coins in escrow which helps.

I would be very wary about meeting a stranger face-to-face, when he or she would know I was carrying a large wad of cash. Localbitcoins uses a rating system of sellers, a bit like on eBay, so I guess one with a 100% reputation is less likely to beat you over the head with a bricjk and run off with your money.

The prices of Bitcoins are much higher (generally) than on MtGox, but MtGox has its own problems apparently. I'm prepared to put up with hiher prices, for the safety aspect, and the fact that I would probably have to take a couple of hours of my time and travel a fair distance to meet someone face-to-face, and prices could rise significantly even as I was travelling to meet the seller.

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And are all the 'exchanges' quoting the same of nearly the same price?

What's a local bitcoin?

At $300 I'd probably put in a few shekels. What's best method for <£1000 and >1k please

The prices diverged massively over the last 24h, but the arbitrage scripts/people are certain to trade away the differential in time.

Like many goods, the price differs from shop to shop... especially when buys/sells go bonkers, like the last 24h.

Localbitcoins and Bitbargain are essentially distributed markets, rather than centralised ones like Bitstamp, MtGox etc. The spot price tends to vary much more with the former, rather than the latter, likely because they are less liquid*.

* Exchanges swap promises of cash/bitcoins, where as distributed markets exchange actual bitcoins for wire transfers. Therefore the latter take time to complete and tend to take more human involvement, which increases the prices (I suspect).

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If I miss this one, how long will I have to wait until the next digital currency is minted? :D

There are a stack of altcoins already... they need a strong USP to leap frog Bitcoin though.

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The recent price bubble has been due to China discovering Bitcoin.

Go to a casino sometime and you'll learn a lot about the Chinese.

Crashing back down today but it'll probably go down to $350 and then up to $2000... or maybe not... no, wait! All on black, double down!

Slightly more difficult to buy in the UK. Bittylicious, Bitbargain and local bitcoins for <£1000 purchases.

With any luck the deflationary shock of Bitcoin will collapse the entire Chinese ponzi economy...

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It's more or less at the same price level as it was yesterday afternoon. Max Keiser has been praising Bitcoin since Autumn 2011 when it was around $5 so he can keep saying I told you so to the naysayers for a long time yet.

This crazy volatility will dampen down after a few hours and the price will still be higher than it was yesterday morning.

I watched the Senate hearings live and I was blown away by how positive the Federal position was. Two lovely ladies from the Department of Justice and FinCEN plus a mean looking Secret Service agent all said that Bitcoin was legal, innovative and will likely be good for consumers in the future. Even the senator chairing the session drew parallels to the early internet

Getting the okay from regulators signals the next order of magnitude for Bitcoin is approaching. Every portfolio manager will want to own a slice of the Second Market investment fund in their high risk portfolio.

The reason they are being positive towards bitcoin is that it has now reached a critical mass whereby the Yanks know that if they reject/ban it, it will likely still be taken up outside of the U.S. anyway leaving them without any kind of control over it.

By 'embracing' it, they can extend some form of control. The ultimate goal is no doubt 'paper bitcoin' so as to enable Wall St. manipulation of the price as with other physical commodities.

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By 'embracing' it, they can extend some form of control. The ultimate goal is no doubt 'paper bitcoin' so as to enable Wall St. manipulation of the price as with other physical commodities.

If they think that is going to happen, then they don't understand Bitcoin.

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If I miss this one, how long will I have to wait until the next digital currency is minted? :D

Little bit gutted a missing out on this myself, but I have come to the conclusion it is way too volatile at the moment.

May just buy a very small amount to see how it all works in reality.

Does anyone have suggestions for any other Altcurrencies I should look at that may be a contender?

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If they think that is going to happen, then they don't understand Bitcoin.

Oh,I think they do.

ETF on bitcoin?....like any other ETF, there never has to be any actual content...you just bet on the price.

These hearings are irrelevent, they are for public consumption only...Government happens in secret and at the donation meetings.

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Little bit gutted a missing out on this myself, but I have come to the conclusion it is way too volatile at the moment.

May just buy a very small amount to see how it all works in reality.

Does anyone have suggestions for any other Altcurrencies I should look at that may be a contender?

LTC seems to be the only one worth anything at the moment ($8).

it is volatile now. give it a week and it will settle down. you can put as little in as you want. when someone puts money into gold, they dont buy a $43,000 gold bar. put in £20 for a starter.

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Anyone tried bitbargain.co.uk?

If you scroll back to about 9PM last night through to about midnight it was discussed quite a bit. It was also discussed earlier in the thread.

Pros seem to be that it is quick to set up and get money into your account if you are a Brit. Negatives appear to be that, as of last night anyhow, when Bitcoins were 700 bucks on the US exchanges they were £700 on bitbargain. So that was a HUGE premium for buying on there - one you could not justify.

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If you scroll back to about 9PM last night through to about midnight it was discussed quite a bit. It was also discussed earlier in the thread.

Pros seem to be that it is quick to set up and get money into your account if you are a Brit. Negatives appear to be that, as of last night anyhow, when Bitcoins were 700 bucks on the US exchanges they were £700 on bitbargain. So that was a HUGE premium for buying on there - one you could not justify.

Many thanks - I just want to buy £50 worth for a bit of fun, so it'll probably do me. Besides, if the price goes anywhere near the wilder predictions, the mark-up will look like loose change ;)

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Many thanks - I just want to buy £50 worth for a bit of fun, so it'll probably do me. Besides, if the price goes anywhere near the wilder predictions, the mark-up will look like loose change ;)

Hang on, last night they were asking a whopping 40% premium compared to the USD price on the US exchanges. You would have to make 40% just to break even if you wanted to sell on the US exchanges and if you had bought last night then the loss is enormous between last night's highs and today's lows.

I watched bitbargain and there seemed to be few buyers at the prices the sellers wanted so if you bought there who would you sell to??? House prices?

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If you scroll back to about 9PM last night through to about midnight it was discussed quite a bit. It was also discussed earlier in the thread.

Pros seem to be that it is quick to set up and get money into your account if you are a Brit. Negatives appear to be that, as of last night anyhow, when Bitcoins were 700 bucks on the US exchanges they were £700 on bitbargain. So that was a HUGE premium for buying on there - one you could not justify.

Yep used it last night, very easy to purchase but very expensive compared to 'spot price'. However every Xmas my kids and godchild get a silver 1oz coin from me and you end up paying well over spot for that. So this year I have got them each a decibit (.1 of a BTC?) printed up a paper wallet for each

a don't worry I will keep a copy handy,

b. don't worry I also give them something more tangible than just PM's or Crypto currencies :)

I must say I do enjoy the quizzical looks from said godparents when I give him a 1oz coin each year, and am looking forward to an even stranger reaction when I hand over a BTC paper wallet.

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Yep used it last night, very easy to purchase but very expensive compared to 'spot price'. However every Xmas my kids and godchild get a silver 1oz coin from me and you end up paying well over spot for that. So this year I have got them each a decibit (.1 of a BTC?) printed up a paper wallet for each

a don't worry I will keep a copy handy,

b. don't worry I also give them something more tangible than just PM's or Crypto currencies :)

I must say I do enjoy the quizzical looks from said godparents when I give him a 1oz coin each year, and am looking forward to an even stranger reaction when I hand over a BTC paper wallet.

Ha! I like the cut of your jib! B)

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Yep used it last night, very easy to purchase but very expensive compared to 'spot price'. However every Xmas my kids and godchild get a silver 1oz coin from me and you end up paying well over spot for that. So this year I have got them each a decibit (.1 of a BTC?) printed up a paper wallet for each

a don't worry I will keep a copy handy,

b. don't worry I also give them something more tangible than just PM's or Crypto currencies :)

I must say I do enjoy the quizzical looks from said godparents when I give him a 1oz coin each year, and am looking forward to an even stranger reaction when I hand over a BTC paper wallet.

How do you make a paper wallet then?

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At what point does it become considered 'money' laundering or hiding untaxed 'money'?

'They' are pushing for a cashless society, but one 'they' can't tax or control?? Good luck with that one!

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At what point does it become considered 'money' laundering or hiding untaxed 'money'?

It's only hiding untaxed money if you hide it. If I crystallise an over the limit BTC capital gain, I'll declare it. But I'll hopefully avoid that situation arising.

Money laundering, OTOH, I'm not so sure about. Last time I looked at the legislation it appeared to me that ownership of any cash or asset can be described as money laundering should the coppers want to pin something on you.

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  • 399 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
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      • Even
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      • up 5%



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