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Bitcoin/Litecoin etc

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Original thread gone?

Bitcoin back on the up today after a couple of days with very little movement.

Litecoin doing well still but down today a bit. It really needs gox to announce a date for thier trading engine to open, kinda in limbo at the mo it would seem

@leanne I havent looked into desktop/offline wallet software, is that something you are looking into?

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Have any of you looked Chinese currency? Renminbi or yang. Have heard it will only continue to rise and with interest rates there set to rise can only be a good thing. I personally know fuck all about it tho.

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Didnt read through all of this so my question might have been answered. Has any one invested, withdrawn, and can see the profit sitting in their bank account?

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Mr fonz has, i'm happy to sit on it and if it is problematic to withdraw, just buy stuff.

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Could be a wheelmoon but appareny branson will accept them for a trip to space.

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@justim
i think they'll treat it like any other foreign currency.

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Lol @ wheelmoon. And lol @ Muff buying Chinese currency for profit next. That yacht is definitely getting closer!!

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pm Effexor

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Man chucks £4m worth of BTC in the bin - gona hurt that one

www.theguardian.com/te...

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again?

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There's probably more money to be made in buying actual Chinese people.

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@Justim...to answer your question on central banks v bitcoin. I have to always see the current monetary regime as a centrally governed system. Bitcoin is gaining acceptance outside that. We can already see this head to head coming into play with the federal reserve making statements about this. It's about fundamentals of value and how exchange of goods take place

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bitcoinrichlist.com/#/...

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100 bitcoin addresses own 20% of the currency.

none of the top 100 bitcoin addresses have conducted a single transaction in or out in over 6 months.

looking at the dates and times when many of the biggest accounts have conducted transactions, they are obviously owned by the same party.

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94.76% of the people involved in bitcoin, hold 37 bitcoins between them.

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:DDDD

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just like swapping innit?

all sorts of win. seems to go up over night, then stays like that for most of the day, then slumps down in the evening. has done this for the past week i think. anybody took advantage?

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still no sign of my bitcoins- this is bullshit

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Anyone having trouble logging into MtGox?

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There are probably quite a few people who got into this back in 2009, like that other guy, and mined a good few coins but have since lost the coin string.

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@ pav & justim...think about it. While bitcoin can remain outside central bank control, I would be very surprised if they are not looking at the possibility of introducing their own virtual currency in future. At that point the government decree it acceptable tender for paying taxes and its officially fiat currency. Control of the money system is the absolute corner stone of an economy and wars have been carried out over the issue. To not think they are looking to regulate in some way is naive

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i defo was not thinking they would not want to regulate it. i was wondering how they will, when they do.

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Bitcoin / Litecoin are not exempt from getting the buck. There is an extensive bucking portfolio being discussed behind closed doors

"But they can't because..XYZ" - balls

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but why would they make it legal tender... they demand payment of taxes in streling... they control the supply of that... people can trade in whatever they like but they still have to convert to the sterling to pay the tax

When i was suggesting that the value of a bitcoin could be manipulated by individuals controlling large blocks of the coin... I had thought they were a lot more equally distributed... making this more difficult but according to aLegend and Shat's link 100 bitcoin accounts control ~95% of all the bitcoins created.
They can pretty much be the gate keepers to the supply of the currency and use their influence to determine how much it is worth

If governments introduce their own cryptocurrency it suffers the same problem as any commodity based currency with a limited supply of units

That said I saw a few article on some aspects of bitcoins and crypto currencies that could revolutionise trade... i had set aside to read later

i'll stick them up later

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sounds interesting pavo

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its rooted in the idea that the block chain can be used to track the provenance of goods dispensing with the legal cost associated with verification

www.newscientist.com/a...

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Was dairebhoy who linked the rich list Pav, you musta seen my repost on bakebook. The summary at the top of that page said that these 100 people hold 21.62% of the btc, where are you getting 95%?

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sorry shat
i was just going b aLegends comments... a lesson learned there

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or rather conflated two of aLegends posts... so apologies to aLegend as well

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No need to apologise to either of us tbf. So about the 95%? I wonder is that 21.62% of all btc created so far or % of the total that can be created. Think there's about 57% of possible btc made so far

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95% to data
bitcoinrichlist.com/ch...

i guess that should begin to give a better distribution as the rest of the coins are mined

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If you can't beat them join them. Before the emergence of the fiat currencies we have today, there were all sorts of paper being used for exchanging goods. Gold merchants would basically print their own coupons and they would be used as currency. In the same way bitcoin is outside the central controlling authority, so were they. But the ability to produce fiat currency was something the merchants didn't have and this helped bring the money system under central control. Knowing that, the way I see it is that a fiat crypto currency on central bank exchanges may be being considered as a possibility. Companies would more readily accept it over mysterious bitcoins. It could be done simply to undermine these decentralised currencies rather than for some practical reason. It's all about control.

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From 6 days ago..
"Someone just made a $147,239,214 Bitcoin transfer " news.ycombinator.com/i...
:0

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That many?

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www.washingtonpost.com...

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^^^ My comment was in regards how many BTC had been mined already.

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Sorry guys I was reshuffling my accounts

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those bitcoins were just resting in my account

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blockchain.info/charts...
Over 12 million in circulation out of a total of 21 million

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But 12 is 21 backwards

CONSPIIIIIIIIRRRRRREEEEEECEEEEEEHHHHHHH!

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www.ft.com/cms/s/0/f74...
gold backed.

?

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Copy and paste, Justim

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you subscribe to ft, justim?

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Doesn't everybody?

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Not sure on gold future strength, for now.

Big moves in this bitcoin, expect it to hit £1400 in next year.

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copy and paste what?

and no. was linked to it. but might subscribe now.

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You can't see the article unless you have a subscription.

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Why would gold not have strength in the future? It's one of the few safe options if bought at the right price.

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i can. not subscribed tho. had to answer a question just. clicked a wee box, that was it.

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I've read with china buying it all up, and with the owed debt from America, and the dollar tied to everything the price will drastically drop in the future. especially with the more influx of people selling gold in the future it a cert to drop. We have to wait and see tho

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If the start mining asteroids, gold may not be as rare a commodity... www.isciencetimes.com/...

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