Bitcoin

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Bitcoin

Postby North Wales Blue » Tue Jul 20, 2021 5:09 pm

Just out of interest. Anyone buying Bitcoin? Will be interesting to know how the Bitcoin adoption is within CCFC community.
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Bitcoin

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Re: Bitcoin

Postby wez1927 » Tue Jul 20, 2021 5:25 pm

North Wales Blue wrote:Just out of interest. Anyone buying Bitcoin? Will be interesting to know how the Bitcoin adoption is within CCFC community.
all crypto is crashing atm but now might be the time to buy low ,if you have the balls and hold in to it long term could be quids in ,ive got 350 theta was up but currently down but I think long term it might go big .so will hold on to it
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Re: Bitcoin

Postby North Wales Blue » Tue Jul 20, 2021 5:51 pm

When you buy Bitcoin, just hold for at least 4 years, don’t try to trade.
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Re: Bitcoin

Postby North Wales Blue » Tue Jul 20, 2021 5:58 pm

Daya wrote:
North Wales Blue wrote:Just out of interest. Anyone buying Bitcoin? Will be interesting to know how the Bitcoin adoption is within CCFC community.


yes I have a wallet, taking a dip at the moment but they claim by end of year could be worth 100k a coin.


Good time to buy the dip. Long term it’s going to be good, still can’t believe how very little knowledge is out there on Bitcoin.
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Re: Bitcoin

Postby wez1927 » Tue Jul 20, 2021 6:08 pm

There's a good video here on the current state of play .
https://youtu.be/tW5TBiZrXsc
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Re: Bitcoin

Postby Bluebina » Wed Jul 21, 2021 8:51 am

North Wales Blue wrote:
Daya wrote:
North Wales Blue wrote:Just out of interest. Anyone buying Bitcoin? Will be interesting to know how the Bitcoin adoption is within CCFC community.


yes I have a wallet, taking a dip at the moment but they claim by end of year could be worth 100k a coin.


Good time to buy the dip. Long term it’s going to be good, still can’t believe how very little knowledge is out there on Bitcoin.



I've read lots and listened to fund managers discussing crypto currency, the general view is that governments need to keep control of their monetary systems, so for that reason they will eventually adopt a system of their own, making the existing ones obsolete and they will crash?
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Re: Bitcoin

Postby North Wales Blue » Wed Jul 21, 2021 5:01 pm

Bluebina wrote:
North Wales Blue wrote:
Daya wrote:
North Wales Blue wrote:Just out of interest. Anyone buying Bitcoin? Will be interesting to know how the Bitcoin adoption is within CCFC community.


yes I have a wallet, taking a dip at the moment but they claim by end of year could be worth 100k a coin.


Good time to buy the dip. Long term it’s going to be good, still can’t believe how very little knowledge is out there on Bitcoin.



I've read lots and listened to fund managers discussing crypto currency, the general view is that governments need to keep control of their monetary systems, so for that reason they will eventually adopt a system of their own, making the existing ones obsolete and they will crash?


Don’t listen to everything from fund managers. Yes, of course they can adopt their own digital system, but it’s going to be their own system similar to the current fiat currency that they keep printing trillions of dollars/pounds. Bitcoin is the only crypto I invest in, it’s an asset. Only 21 million coins will ever be mined.
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Re: Bitcoin

Postby North Wales Blue » Wed Jul 21, 2021 5:03 pm

Go to hope.com for some interesting information.
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Re: Bitcoin

Postby Bluebird-in-Jackland » Wed Jul 21, 2021 7:54 pm

I haven’t got any Bitcoin but I’ve recently bought a trillion Baby Dogecoin. Just going to forget about it and hopefully one day in the future I see an article about how it’s gone crazy.
At the end of last year I had a million Dogecoin and traded it to XRP instead. The worst mistake of my life so far. So I’m hoping that I can get lucky this time. And if not it’s not a problem.
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Re: Bitcoin

Postby Bluebina » Mon Jul 26, 2021 9:00 am

North Wales Blue wrote:Go to hope.com for some interesting information.



It's one sided but useful to see the positive view of cypto :thumbup:

Rishi Sunaks BRITCOIN

Will this affect all crypto though ?

https://www.dailymail.co.uk/news/articl ... rency.html

The Britcoin revolution! Rishi Sunak plans to introduce official digital currency to rival cash in 'biggest upheaval in the monetary system for centuries'
Bank of England would establish a direct digital equivalent to physical money
Supporters say the move will give the economy a boost during a financial crisis
Could slash cost and time it takes to make payments online and transfer money

Cash in people's pockets would be superseded by a new 'Britcoin' digital currency in a plan being pushed by Chancellor Rishi Sunak.

In what Treasury insiders say would be the biggest upheaval in the monetary system for centuries, the Bank of England would establish a direct digital equivalent to physical money and take control of it in the same way as sterling.

Its supporters in the Treasury say that it would allow the Bank to give the economy a boost in times of financial crisis by paying the 'Britcoins' directly into people's bank accounts.

It could also slash the cost and time it takes to make payments online and transfer money around the banking system.

Britcoin could also cut banking costs dramatically for small firms. However, critics warn that a digital version of the pound could lead to greater financial instability – making it harder for the Bank to regulate the economy with monetary policies such as setting interest rates.

There are also fears the introduction of Britcoin would lead to higher loan and mortgage rates as millions of people switched cash to central bank digital currency, eating into the amount of money high street banks have on deposit to lend to borrowers.

A taskforce of Treasury and Bank officials set up to examine the merits of Britcoin – known as the Central Bank Digital Currency – is expected to report to Mr Sunak by the end of the year.

The Treasury is understood to be more keen than the Bank of England on the idea of creating an official British digital currency to compete with the rise of Bitcoin because they are wary of the huge numbers of people piling into cryptocurrencies. Some investors have lost vast sums as the price of Bitcoin has gyrated wildly.

Meanwhile, other countries are racing to develop their own digital currencies. China has been testing a digital yuan; US Treasury secretary Janet Yellen has hinted that a digital dollar could be created; and the European Central Bank is investigating plans for a digital euro. Unlike Bitcoin and other cryptocurrencies, Britcoin would be linked to the value of the pound and backed by the central bank. That, in theory, should stop it from swinging massively in value.

Under plans being considered by officials, consumers might be able to hold the currency in accounts directly linked to the Bank of England. Officials are undecided on whether to attach interest rates to Britcoin, which might make it attractive to savers as an alternative to cash.

Retailers and other companies could accept the digital currency for ordinary payments that customers would otherwise have made with a debit or credit card.

But the amount of money each individual could hold in Britcoin is likely to be limited initially. Crucially, consumers would be able to change pound Sterling into Britcoin with ease. It would also be made very simple – and very fast – to transfer Britcoin back into ordinary cash that could be taken out of an ATM. That might help avoid the type of long queues that occurred when thousands tried to get their money out of Northern Rock in 2007.

A digital currency where customers have accounts directly linked to the Bank of England would also make it far easier to issue so-called 'helicopter' money, where funds are injected into people's pockets by the Government.

This could prove a more effective way of stimulating the economy in times of crisis than quantitative easing (QE).

QE has been used since the 2009 financial crisis to flood the banking system with new money, but the scheme has been criticised for storing up potential inflation while failing to get the cash to trickle down to households and businesses in the rest of the economy.
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