Bitcoin price $100K for the first time

[Pinchy]

Originally Posted by Loopylooloo

I bought 500 XRP for £200. They are currently worth around £1000, an amazing profit but I still want to hold them to see if it goes higher. Not sure if that’s wise but I kind of like the idea of them sky rocketing! It’s not a huge investment to gamble with. I understand absolutely nothing about any of it though!😂

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It's great when it goes up! I bought a new car a couple of years ago for about a tenner. The Salesman laughed a lot but didn't want to buy any because he thought it too dodgy.

I sold everything I had back into bitcoin.

[Loopylooloo]

Originally Posted by Pinchy

It's great when it goes up! I bought a new car a couple of years ago for about a tenner. The Salesman laughed a lot but didn't want to buy any because he thought it too dodgy.

I sold everything I had back into bitcoin.

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So should I stick? Or sell now?

[Moorlandman]

Did anyone invest in the new Hawk Tuah girl digital coin this week?

https://www.bbc.co.uk/news/articles/c89xvjkzzyvo

Haliey Welch, known mostly as the star of the viral "Hawk Tuah" meme, is facing criticism after her newly launched cryptocurrency nosedived in value.

Her "Hawk" digital coin hit a $490m market cap shortly after it launched on Wednesday, before suddenly losing more than 95% of its value within hours.

This has led some, including YouTube cryptocurrency investigator Coffeezilla, to accuse Ms Welch of scamming investors with a "pump and dump" - where the people behind a coin hype up its price before launch, then sell it for profit.

[Pinchy]

Originally Posted by Loopylooloo

So should I stick? Or sell now?

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If I knew about that one I'd say but unfortunately I know very little about it. I do know it uses several different ways of doing things claimed to be superior. IMO bitcoin has all the groundbreaking innovation and suits longevity far better than any other crypto for a whole host of reasons. But I'm talking many years into the future.

In the shorter term as the other cryptos tend to follow bitcoin then over the next couple of years at least I'm very positive.

The incoming Trump gov are very receptive to crypto bitcoin esp.

[levtweeney]

I guess one of the biggest criticism of Bitcoin is it’s hugely energy intensive to mine. But like said above it really is linked to being an alternative to fiat currencies while Ether is more designed to work with Web3 applications. Ether is the second largest crypto coin behind Bitcoin.

However I think Pinchy has given me the urge to look more closely at Bitcoin. I may start dollar cost averaging in to Bitcoin moving forward 🤔

[Pinchy]

Originally Posted by levtweeney

I guess one of the biggest criticism of Bitcoin is it’s hugely energy intensive to mine. But like said above it really is linked to being an alternative to fiat currencies while Ether is more designed to work with Web3 applications. Ether is the second largest crypto coin behind Bitcoin.

However I think Pinchy has given me the urge to look more closely at Bitcoin. I may start dollar cost averaging in to Bitcoin moving forward 🤔

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To rely on computing power only is simple and cannot be adversely affected by the sorts of methods used by some other cryptos. Computing power increases slowly and somewhat predictably with time. If a supercomputer appears or miners pool together the theory is that they are better off playing nice and earning many coins.

But this is all now when bitcoin is still a baby. When it's big that it requires big power won't be an issue. Like a lot of these things you have to look at what will be when things are bigger. It's like complaining that using the early internet requires loads of typing.

IMO.

[DisneySarah]

I have a very small amount of Brett and Pepe. They are currently going up nicely so obviously I wish I’d bought more 😂

[Pinchy]

Originally Posted by DisneySarah

I have a very small amount of Brett and Pepe. They are currently going up nicely so obviously I wish I’d bought more 😂

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I wish I'd kept track of all my rounding up amounts of bitcoin in various transactions that got left here and there.

Also a friend let his son mine on his own games machine for a couple of months and bought a mouse for £10K at today's prices. Poor kid.

[Loopylooloo]

Originally Posted by Pinchy

I wish I'd kept track of all my rounding up amounts of bitcoin in various transactions that got left here and there.

Also a friend let his son mine on his own games machine for a couple of months and bought a mouse for £10K at today's prices. Poor kid.

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I feel like I’m reading a foreign language 😂 say what? It’s so over my head!😩

[sully301]

is there an idiots guide anywhere? like really really basic of how it works and what mining is