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Thread: Does anyone understand *******s?

  1. #1
    Join Date
    Jan 2010
    Posts
    13,001

    Does anyone understand *******s?

    I'm have not a clue what these are, but their value has gone up from $500 last September to $4500 today.
    https://charts.*******.com/chart/price

    That's some investment.

    It seems that you need a key to use them and one person lost all their *******s when the lost their computer.
    Computer spammers want paid in *******s and Kim Jong is using them to avoid sanctions

    Hackers from Kim Jong Un’s regime are increasing their attacks on cryptocurrency exchanges in South Korea and related sites, according to a new report from security researcher FireEye Inc. They also breached an English-language ******* news website and collected ******* ransom payments from global victims of the malware WannaCry, according to the researcher.

    Is anyone into these. Wikipedia makes little sense on this, but I'm aging. Some sprightly youngster with more brain cells might help.

  2. #2
    Join Date
    Jul 2004
    Posts
    21,844
    I was advised recently by someone who I trust to invest in these *******s, he explained what you had to do, but I'm like you OC, it all went over my head and seemed far too complicated for me to get involved with. He tells me I'm being foolish and missing out on the investment opportunity of a lifetime, but I can't invest in something I don't understand.

    I've also read 'Extraordinary Popular Delusions and the Madness of Crowds', which puts me off anything like this.
    Last edited by sinkov; 12-09-2017 at 10:22 PM.

  3. #3
    Join Date
    Jan 2010
    Posts
    13,001
    This is supposed to help but at £4000 each I think I'll leave them.

    What is it?
    A digital currency, used to make payments of any value without fees. It runs on the blockchain, a decentralised ledger kept running by “miners” whose powerful computers crunch transactions and are rewarded in *******s

    Who invented it?
    Satoshi Nakamoto, a secretive internet user, invented ******* in 2008 before it went online in 2009. Many attempts to identify Satoshi have been made without conclusive proof

  4. #4
    Join Date
    Jan 2010
    Posts
    13,001
    Financiers say it is a fraud
    JPMorgan Chase chairman and CEO Jamie Dimon spoke out against cryptocurrency ******* on Tuesday

    He said the currency 'is a fraud' that will eventually 'blow up'
    'Honestly, I am just shocked that anyone can't see it for what it is,' he said
    ******* slid by more than 10 percent on Wednesday, after Dimon's speech

    http://www.dailymail.co.uk/news/arti...d-blow-up.html

  5. #5
    Join Date
    Feb 2004
    Posts
    367
    I have no interest in ******* currency, nor do I understand it, nor do I care to understand it. It seems to be an ‘underground currency’, not totally legal. I may change my mind when I can put paper ******* in my wallet, in my back pocket and use it to buy petrol, groceries etc. I rarely use credit cards, never use a debit card, I’m a dinosaur, cash is king in my world.

  6. #6
    So if I bought myself some, could I then use them to buy tulip bulbs, or maybe Enron-shares and make even more money?

  7. #7
    Join Date
    Jan 2010
    Posts
    13,001
    Quote Originally Posted by afloatinclaret View Post
    So if I bought myself some, could I then use them to buy tulip bulbs, or maybe Enron-shares and make even more money?
    Probably not and as China acts to close down its trading arm their value has dropped a lot in the last couple of days

    The cryptocurrency traded at $3,385.15 at 4:17 p.m. in New York, far below an all-time high of $5,013.91 set earlier this month.
    BTC China said in a tweet Thursday that it will close down its operations by Sept. 30 as Chinese authorities crack down on cryptocurrencies.
    https://www.cnbc.com/2017/09/14/bitc...s-closing.html
    Last edited by oldcolner; 14-09-2017 at 10:26 PM.

  8. #8
    Join Date
    Jan 2010
    Posts
    13,001
    Worth a refresh
    I wish I had put money in to them even though I don’t understand them. They started the year around £500 and are now over £10000 each.
    This article suggests they will rise to 15000 by the end of December and rise ten times more by the end of 2018 and become legit.

    http://www.ibtimes.com/why-*******s-...expert-2623457

  9. #9
    Join Date
    Mar 2009
    Posts
    39,185
    The problem is selling them again..

  10. #10
    People have made a lot of money from them but these are the people who bought a few at the start 10 or so yrs ago when you could get them for a dollar apiece. they say they are secure but as there is nothing physical like other commodities what is to stop them just disappearing into the ether. if you want to see how secure they are google '******* robbery' millions of $ have just vanished.
    The price has rocketed and doesn't look like slowing but I was talking to somebody who trades stocks and he said unless you have a lot of money they are not really a good investment now the price has gone so high, a lot of seasoned traders expect the bubble to burst its just a case of when and how much of a hit people take. It reminds me of the old pyramid schemes buy in early you can make money buy in late and poof your money is gone one morning.
    I could be wrong and it may keep going up but I certainly wouldn't be risking large sums of money on something that doesn't really exist apart from on the internet.

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