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Cryptocurrency??

Glenjamin

Glenjamin

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Founding Member
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359
#1
Anyone having a go with cryptocurrencies?

Quite a volatile market but interesting increases going on in alot of the more popular ones.

Anyone have bicoin from the beginning?
 
Dorset

Dorset

The Voice Of Reason
Founding Member
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1,142
#2
Anyone having a go with cryptocurrencies?

Quite a volatile market but interesting increases going on in alot of the more popular ones.

Anyone have bicoin from the beginning?
My brain tells me that Bitcoin must crash to worthlessness, it seems to be a hoax, there is no actual value to it and if one or 2 big holders try and cash in then the whole thing goes tits up. Bubbles always burst, well they have so far in the entire history of civilisation but maybe this one won't - yeah of course it will. When folks were actually using Bitcoin to pay for stuff then maybe it had a future because using it gave it a real value, but nobody is going to pay for 3 quids worth of Bitcoins for a cup of coffee today because it might be 'worth' £100 tomorrow.

It seems very much like a pyramid scam to me, the value doubles every 5 minutes - maffs tells me that if the current rise in 'values' continue then a Bitcoin will be worth more than the entire wealth of the planet by next year - really? The people who had a couple of Bitcoins at the beginning who have already cashed in will have done very nicely, just like the geezers who start the pyramids.

There are many folks defending cryptos, they say the rises will go on forever, I bet they liked the Emperor's new suit as well. I also think that governments would get a bit miffed if these 'currencies' started to take over from their own and will stomp on them big time. If everybody bought £10 of cryptos today which were worth £100 next week then the world economic system would collapse, that would be funny!

Security is another issue maybe, If you use a hardware wallet then you have to carry the thing around with you, lose it and it's all gone, they are crackable despite what the sellers say. If you use a web service wallet then there have been many instances of fraud and lost PINs - then there is NO way you can get your wedge, it's gone forever.

The rises might go on for years, then we will all be saying 'fuck it I should have got them cryptos', they might crash tomorrow and unless you can magically decide when to get out the market then they are worthless, you could be a millionaire on not-paper today and skint in 5 minutes.
 
Motspur Hotspur

Motspur Hotspur

Player in Training.
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#3
Can't see the biggest books fiddler on the planet liking having their currency challenged by an 'internet currency' and would expect them to stamp all over it. With my conspiracy theory hat on I wonder if Bitcoin and it's sister currencies are being pushed by other countries namely Russia and China to aid the downfall of the Dollar and the west?! Would be a nice, clean way to create a vacuum of power.
 
Yid

Yid

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#4
If it seems too good to be true...

No one.... absolutely no one you know has done well on this. My FA knows no one... he says he knows people who say that they know people who have done ok but he knows no one...!!!

That's enough for me to say, at the values they trade for now unless there is a significant down turn without a full crash and you can genuinely afford the outright loss then fuck that.

If.... you'd have plumped a couple of hundred nicker as a speculative long shot within the first few months you'd have had a result if you cashed out now... or at some points over the last 2 years but youd also have made fuck all at some too...

This is a pure gamble, not an investment imo.

Want solid returns... still bricks and mortar.
 
skiathospurs

skiathospurs

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#5
If it seems too good to be true...

No one.... absolutely no one you know has done well on this. My FA knows no one... he says he knows people who say that they know people who have done ok but he knows no one...!!!

That's enough for me to say, at the values they trade for now unless there is a significant down turn without a full crash and you can genuinely afford the outright loss then fuck that.

If.... you'd have plumped a couple of hundred nicker as a speculative long shot within the first few months you'd have had a result if you cashed out now... or at some points over the last 2 years but youd also have made fuck all at some too...

This is a pure gamble, not an investment imo.

Want solid returns... still bricks and mortar.
Financial markets,currencies,stocks,portfolios are all a gamble except its not framed as such.Its acceptable gambling where you also pay someone for the priviledge of gambling with your money and they dont tell you when the fun stops stop!!

If only it was clearly explained to people early in life,debts out strip returns on investments,no point taking finance on a new car and same time saving money & putting it on the market.Investing is where you have more than you require at that time,nothing wrong with setting aside money for later,but borrowing is the killer and and from this where financial institutions make their dough,lending at this and earning you less on the money they use to then lend more money.
Its all acceptable,like gambling because money to the state is considerable.

Yup last 40 years bricks and mortar have everything else beat,when i quit work at 30,i already had a sizeable company pension,legally i had to just keep it as such at the time,if as i wished i could have bought a 2nd house with the money,also had rent for 25 yrs now,it would have turned a 50k house into 300k instead of having only fractionally grown in quarter of a century,through some tarquin or rupert sitting behind an algorithm betting on this stock or that bond.
 
Motspur Hotspur

Motspur Hotspur

Player in Training.
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#6
Financial markets,currencies,stocks,portfolios are all a gamble except its not framed as such.Its acceptable gambling where you also pay someone for the priviledge of gambling with your money and they dont tell you when the fun stops stop!!

If only it was clearly explained to people early in life,debts out strip returns on investments,no point taking finance on a new car and same time saving money & putting it on the market.Investing is where you have more than you require at that time,nothing wrong with setting aside money for later,but borrowing is the killer and and from this where financial institutions make their dough,lending at this and earning you less on the money they use to then lend more money.
Its all acceptable,like gambling because money to the state is considerable.

Yup last 40 years bricks and mortar have everything else beat,when i quit work at 30,i already had a sizeable company pension,legally i had to just keep it as such at the time,if as i wished i could have bought a 2nd house with the money,also had rent for 25 yrs now,it would have turned a 50k house into 300k instead of having only fractionally grown in quarter of a century,through some tarquin or rupert sitting behind an algorithm betting on this stock or that bond.
Interesting you quit work at 30, what did you do?
 
skiathospurs

skiathospurs

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#7
Interesting you quit work at 30, what did you do?
Ha I got debt free!!
I was a retail exec,chose a different path.
Saw I didnt need to keep accumulating,I havent cashed in or stopped working completly,just took an opportunity to live how/where i wanted and work as I wanted.Its not without its stresses living a different financial model,but i think i started living properly then,why wait til your 60s to stop&do stuff,go places?

I also had a big life changing event,pushed me to re-evaluate.
 
Motspur Hotspur

Motspur Hotspur

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#8
Ha I got debt free!!
I was a retail exec,chose a different path.
Saw I didnt need to keep accumulating,I havent cashed in or stopped working completly,just took an opportunity to live how/where i wanted and work as I wanted.Its not without its stresses living a different financial model,but i think i started living properly then,why wait til your 60s to stop&do stuff,go places?

I also had a big life changing event,pushed me to re-evaluate.
Fair play, 39 and just embarking on that road now, just need to find the balls to chuck in the part time job (it's killing me) and finally chase my dream. I know I have a good product, just need to back myself. I think it's true that living this way is hard, sometimes I think about going back to 9-5, it would be easy to throw the towel in but then I've already missed one of my kids growing into a man and am damned sure I'm going to make the most of the other two.
 
skiathospurs

skiathospurs

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3,170
#9
Fair play, 39 and just embarking on that road now, just need to find the balls to chuck in the part time job (it's killing me) and finally chase my dream. I know I have a good product, just need to back myself. I think it's true that living this way is hard, sometimes I think about going back to 9-5, it would be easy to throw the towel in but then I've already missed one of my kids growing into a man and am damned sure I'm going to make the most of the other two.
I already was deep into thinking&planning to stop,had a plan to save this,get to this point,and then stood back and realised ten,twenty thousand made fuck all difference,because it was just a prop for a year or two.If what i was going to do changewise happened,better to just get started,rather than wait for a financial crutch to give me strength to jump in.I had worked so hard and diligently for the company,and had a reason to want a few weeks off at a certain period with someone visiting and was denied because we were remodelling a store somewhere,so i just went into the HR office,said give me some paper,wrote out my resignation took it to my boss,who said whoa you can have that time off,but like giving up smoking or drugs or alcohol you make a choice and its done.
The hardest part is the jumping in,because even if you have half a million spare,at 39 that wont see you out,and even if it nearly is,i see so many ex-pats trying to thrift their way through living cos all they have is savings being eaten,thats not living the dream either,just not working isnt the dream.Having time to do what you want is the point,cant buy time even if you can buy bitcoin.

Oh yeah people will think youve had a breakdown and its just a phase,then 20 yrs later they see why.
good luck,do it tomorrow or next year its all the same isnt it?Just have to start.
 
Dorset

Dorset

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#11
I already was deep into thinking&planning to stop,had a plan to save this,get to this point,and then stood back and realised ten,twenty thousand made fuck all difference,because it was just a prop for a year or two.If what i was going to do changewise happened,better to just get started,rather than wait for a financial crutch to give me strength to jump in.I had worked so hard and diligently for the company,and had a reason to want a few weeks off at a certain period with someone visiting and was denied because we were remodelling a store somewhere,so i just went into the HR office,said give me some paper,wrote out my resignation took it to my boss,who said whoa you can have that time off,but like giving up smoking or drugs or alcohol you make a choice and its done.
The hardest part is the jumping in,because even if you have half a million spare,at 39 that wont see you out,and even if it nearly is,i see so many ex-pats trying to thrift their way through living cos all they have is savings being eaten,thats not living the dream either,just not working isnt the dream.Having time to do what you want is the point,cant buy time even if you can buy bitcoin.

Oh yeah people will think youve had a breakdown and its just a phase,then 20 yrs later they see why.
good luck,do it tomorrow or next year its all the same isnt it?Just have to start.
It is necessary mate. Me and Mrs D jacked in the retrace in the 90s and wandered off to Thailand, Australia, New Zealand and other places, since we came back to England I have been doing a gnat's pube more than fuck all to earn a very small bit of wedge, I used to earn a grand a day when folks were going mental about Y2K, now I am lucky to get £500 a month! We sold our house and everything we owned, it was well weird sitting at Heathrow airport with no keys!

Mrs D is a teacher and she likes that, but she's retiring next year (luckily with a decent City and teachers pension, not massive but we can survive on it). I don't have a pension as I never dreamed I could live this fucking long! We are paying rent at the moment which some folks say is 'dead money' but someone else fixes the fucker and we are paying less than the interest would be on a mortgage if we bought the very nice house we rent which is in a nice little Dorset village. We have enough wedge to buy a fucking beaut of a house in Spain, or a poxy semi in England, I have had enough of Ingerlund and the facist fuckers so we will be off in the summer next year. We are gambling that the feds keep reciprocal health agreements with Spain and Mrs D's pension will still get paid after the Brexit fiasco, I can't imagine Spain wanting to lose the income generated by 1.5m expats and the NHS would crumble if they all came home. It could go tits up, but it could go tits up staying in the UK and I ain't never going to be the one sitting in a care home in 20 year time drooling 'I wish I'd.......'

I found out recently that because I kept up my self employed national insurance contributions, I do qualify for a state pension of £160 per week in 2021, so if I defy all the odds and live that long that will be nice.

I'm rambling innit? What I was trying to say was that I used to be well minted, flash cars, nice house, expensive wines and stuff, but it was all fluff and a huge lump of stress. Now we have enough and it is better, much better.
 
Dorset

Dorset

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#12
There was an interesting article in the Telegraph on Sunday, apparently each bitcoin costs $6,000 in energy resources to mine and there are huge 1500 server complexes being set up to mine the future cryptos which will demand even more processing power. The environmental cost will be crippling unless this bollocks is stopped.
 
Glenjamin

Glenjamin

Well-Known Member
Founding Member
Likes
359
#13
There was an interesting article in the Telegraph on Sunday, apparently each bitcoin costs $6,000 in energy resources to mine and there are huge 1500 server complexes being set up to mine the future cryptos which will demand even more processing power. The environmental cost will be crippling unless this bollocks is stopped.
Yeah read that auld mining malarchy is a serious power sapper.

.

On another note I like yours and @skiathospurs wisdomus life stories, it puts in to perspective what's required in life.

One of the reasons I stay in my job ATM. Limited stress and short work week, but decent pay. Don't want high stress again for the sake of a few quid.
 
Last edited:
Glenjamin

Glenjamin

Well-Known Member
Founding Member
Likes
359
#14
I already was deep into thinking&planning to stop,had a plan to save this,get to this point,and then stood back and realised ten,twenty thousand made fuck all difference,because it was just a prop for a year or two.If what i was going to do changewise happened,better to just get started,rather than wait for a financial crutch to give me strength to jump in.I had worked so hard and diligently for the company,and had a reason to want a few weeks off at a certain period with someone visiting and was denied because we were remodelling a store somewhere,so i just went into the HR office,said give me some paper,wrote out my resignation took it to my boss,who said whoa you can have that time off,but like giving up smoking or drugs or alcohol you make a choice and its done.
The hardest part is the jumping in,because even if you have half a million spare,at 39 that wont see you out,and even if it nearly is,i see so many ex-pats trying to thrift their way through living cos all they have is savings being eaten,thats not living the dream either,just not working isnt the dream.Having time to do what you want is the point,cant buy time even if you can buy bitcoin.

Oh yeah people will think youve had a breakdown and its just a phase,then 20 yrs later they see why.
good luck,do it tomorrow or next year its all the same isnt it?Just have to start.
Your bang on about just going for it if it's what you wanted.

Before I travelled in my early 20s I worked with this fella just as a kitchen Porter to pay my way through uni. He was an older gentleman, that was saving a certain amount so he could quite work and had this plan drawn up for all his adventures and seeing all he hadn't before. Once I finished uni I quit the job and travelled Australia and Indonesia. When I came back I called in to see him to tell him about the countries as he was going to go there on his journey. He was dead and some sister he never knew got his house and his travel money.
 
Glenjamin

Glenjamin

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Founding Member
Likes
359
#15
To be honest I don't really get bitcoin, however the blockchain technology it created is very interesting and as the applications built on it are relatively new there seems to be big sums to be made on the right one.

I put 200 quid (part of a work bonus) in to one called verge to see what happens and have made 630, so cant complain it just paid the tiny bit left on my car.
 
Glenjamin

Glenjamin

Well-Known Member
Founding Member
Likes
359
#16
If it seems too good to be true...

No one.... absolutely no one you know has done well on this. My FA knows no one... he says he knows people who say that they know people who have done ok but he knows no one...!!!

That's enough for me to say, at the values they trade for now unless there is a significant down turn without a full crash and you can genuinely afford the outright loss then fuck that.

If.... you'd have plumped a couple of hundred nicker as a speculative long shot within the first few months you'd have had a result if you cashed out now... or at some points over the last 2 years but youd also have made fuck all at some too...

This is a pure gamble, not an investment imo.

Want solid returns... still bricks and mortar.
Friend of mine is doing very well from blockchain technology now days. He bought bitcoin at around a grand and sold a couple recently to move on to other versions. I do think it is volatile though and could go either way.
 
Dorset

Dorset

The Voice Of Reason
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1,142
#17
Yeah read that auld mining malarchy is a serious power sapper.

To be honest I don't really get bitcoin, however the blockchain technology it created is very interesting and as the applications built on it are relatively new there seems to be big sums to be made on the right one.

I put 200 quid in to one called verge to see what happens and have made 630 so far, so cant complain it just paid the tiny bit left on my car.

On another note I like yours and @skiathospurs wisdomus life stories, it puts in to perspective what's required in life.

One of the reasons I stay in my job ATM. Limited stress and short work week, but decent pay. Don't want high stress again for the sake of a few quid.
Good luck mate, I hope you do well in crypto and get out the right time, one thing I have found being 'wisdomous' - I have never been accused of that before - is that you ain't made nuffing until it's in the bank, a paper profit ain't worth feck all.

I have made some really huge mistakes, I sold the house we had bought outright when we went off wandering, if I had kept that fucker and rented it out I would be a fucking millionaire now, but we sold it, spent the money and had a great 18 years spending that wedge, so I suppose I wouldn't change a thing. You can only guarantee to get to were you are now is by doing exactly what you did, go back and change one little thing and that big fuck off truck might get you. I have everything I need plus some nice guitars so I am happy as fuck.

I gave up full time working around 18 years ago, my blood pressure was mental and I was on my way to a fatal heart attack, the doctor told me I would be dead in a year if I carried on living like I did. By de-stressing I didn't have an MI until last year and the fucker didn't kill me, I'm fitter now than I was when I was in my 20s! Walking away from a massively high paid job is tough but when you realise that having what you need is enough it's fucking triffic. Some of my ex-colleagues didn't find that out and they are rich dead people. Fuck that for a game of soldiers. My best mate was a multi-millionaire, owned 5 houses, a factory, loads of land Mercs, BMWs, a Harley, minted as fuck - now he's gone and I miss him everyday because I am a soft cunt and a real friend is something you can't replace.
 
Glenjamin

Glenjamin

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359
#18
Good luck mate, I hope you do well in crypto and get out the right time, one thing I have found being 'wisdomous' - I have never been accused of that before - is that you ain't made nuffing until it's in the bank, a paper profit ain't worth feck all.

I have made some really huge mistakes, I sold the house we had bought outright when we went off wandering, if I had kept that fucker and rented it out I would be a fucking millionaire now, but we sold it, spent the money and had a great 18 years spending that wedge, so I suppose I wouldn't change a thing. You can only guarantee to get to were you are now is by doing exactly what you did, go back and change one little thing and that big fuck off truck might get you. I have everything I need plus some nice guitars so I am happy as fuck.

I gave up full time working around 18 years ago, my blood pressure was mental and I was on my way to a fatal heart attack, the doctor told me I would be dead in a year if I carried on living like I did. By de-stressing I didn't have an MI until last year and the fucker didn't kill me, I'm fitter now than I was when I was in my 20s! Walking away from a massively high paid job is tough but when you realise that having what you need is enough it's fucking triffic. Some of my ex-colleagues didn't find that out and they are rich dead people. Fuck that for a game of soldiers. My best mate was a multi-millionaire, owned 5 houses, a factory, loads of land Mercs, BMWs, a Harley, minted as fuck - now he's gone and I miss him everyday because I am a soft cunt and a real friend is something you can't replace.
If it fucks with your health it isn't worth it!

Unfortunate about the house but if it gave you 18 good years then so be it. Can't go wrong with that!

I set my bar in uni about where I wanted to be in life, and to be honest it was never to be rich, just not skint. I work 5 mins from my house, 35 hours a week and actually earn more than I planned. Friend of mines father is almost a billionaire so he had a good path through life landed on him, but ultimately he works 70 hour weeks now in his business and I wouldn't say he is as happy as me, although I wouldn't mind his BMW M3 lol, but where you like guitars I like cars.
 
Motspur Hotspur

Motspur Hotspur

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#19
You boys are just trying to talk me in to dumping the Tesco job aren't you!
I see what you're doing :)

Anyways, I don't care the house is covered and I've... er - we've got our camper van - what else is there to want in life.
 
Motspur Hotspur

Motspur Hotspur

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#20
Actually question for you ex minted fuckers and it's something I've never been any good at - selling, what's the fucking secret?
 
Don Diaz

Don Diaz

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#22
This is heading towards a fireside chat about the meaning of life, with our slippers on and a nice cup of tea....!!
 
The Cryptkeeper

The Cryptkeeper

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#23
Good luck mate, I hope you do well in crypto and get out the right time, one thing I have found being 'wisdomous' - I have never been accused of that before - is that you ain't made nuffing until it's in the bank, a paper profit ain't worth feck all.

I have made some really huge mistakes, I sold the house we had bought outright when we went off wandering, if I had kept that fucker and rented it out I would be a fucking millionaire now, but we sold it, spent the money and had a great 18 years spending that wedge, so I suppose I wouldn't change a thing. You can only guarantee to get to were you are now is by doing exactly what you did, go back and change one little thing and that big fuck off truck might get you. I have everything I need plus some nice guitars so I am happy as fuck.

I gave up full time working around 18 years ago, my blood pressure was mental and I was on my way to a fatal heart attack, the doctor told me I would be dead in a year if I carried on living like I did. By de-stressing I didn't have an MI until last year and the fucker didn't kill me, I'm fitter now than I was when I was in my 20s! Walking away from a massively high paid job is tough but when you realise that having what you need is enough it's fucking triffic. Some of my ex-colleagues didn't find that out and they are rich dead people. Fuck that for a game of soldiers. My best mate was a multi-millionaire, owned 5 houses, a factory, loads of land Mercs, BMWs, a Harley, minted as fuck - now he's gone and I miss him everyday because I am a soft cunt and a real friend is something you can't replace.
We've had our moments mate but that sentiment is spot on. You can't take anything with you. You're an angry fucker....but a pretty smart one too.
 
Yid

Yid

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#25
I like this chat... it's one of those where i look round and realise exactly how lucky I am and regardless of the Mrs stuffing her motor into a bollard and me always no matter how much i bring home wantimg a bit more. I have exactly what i need in life and i need to make sure my kids have that in the back of their own minds while they are being made into to consumer robot's by society.

Tried to get them to understand the gift of giving and how nice it is to give somone a gift or surprise... the bigun gets it I think but the littlun not so much.

Have a great chrimbo lads and don't by this Bitcoin shit.... maybe the keychain stuff will see a return but be prepared to loose in the off chance you could make big.
 
skiathospurs

skiathospurs

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#26
I like this chat... it's one of those where i look round and realise exactly how lucky I am and regardless of the Mrs stuffing her motor into a bollard and me always no matter how much i bring home wantimg a bit more. I have exactly what i need in life and i need to make sure my kids have that in the back of their own minds while they are being made into to consumer robot's by society.

Tried to get them to understand the gift of giving and how nice it is to give somone a gift or surprise... the bigun gets it I think but the littlun not so much.

Have a great chrimbo lads and don't by this Bitcoin shit.... maybe the keychain stuff will see a return but be prepared to loose in the off chance you could make big.
I came to realise it was simply the more money I earnt,the more i borrowed,ok i was younger and we all enjoy our excesses then,but cant say now i ve called a halt to the wastefulness that i miss having so much stuff.It aint the stuff that makes you happy.


unless its drugs lol
 
Dorset

Dorset

The Voice Of Reason
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1,142
#27
I hope nobody bought loads of bitcoins last weekend, cos the fucker is down 44% this week! Blimey, not for me this stuff, maybe I don't get it. You buy shares in a a company, if they go down then the company still exists and they might go back up, because there is a business with assets behind those shares, if a crypto currency crashes then there is fuck all behind it, it is just a bit of code with no value so how can it recover? Fucking loverly suit that emperor is wearing eh?
 
Glenjamin

Glenjamin

Well-Known Member
Founding Member
Likes
359
#28
I hope nobody bought loads of bitcoins last weekend, cos the fucker is down 44% this week! Blimey, not for me this stuff, maybe I don't get it. You buy shares in a a company, if they go down then the company still exists and they might go back up, because there is a business with assets behind those shares, if a crypto currency crashes then there is fuck all behind it, it is just a bit of code with no value so how can it recover? Fucking loverly suit that emperor is wearing eh?
Yeah alot of people will have lost silly money with all the talk of how high bitcoin was gonna go. Bet people stuck wages on thinking they could quickly double their cash.

I'm putting my little bit of cash on ethereum start-ups as these are actual companies with something to offer. Glad to report I'm still climbing. I've set a limit to escape though and it's not very high lol.
 

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