I believe that BTC price is determined by an alcoholic garden fairy, named Phil. He takes his most recent Pacman score (he plays nearly everyday) divides it by the middle two digits of a random phone book entry, then multiplies it by the number of things he can see that begin with the letter 'F'. That, to the power of 3 and dived by Pi, is the current value of BitCoin.

Haha, you write really well. Reminds me of Douglas Adams.

Kudos.

I've posted this before on here but when the Silk Road was a thing (around 2014), I bought 46 bitcoin for $9 each. Spent them all on drugs.

Didn't save any.

Apparently you live and learn but that was a hell of a pill to swallow when they went to $10,000 a piece!

Oh well. Fuckabix.

Cheers BB

Feel your pain here but. I've bought copious amounts of bitcoin at £9, £12, £18 in bigger quantities and did exactly what I intended to use them for, buying weed ha. Which was incredible at the time. No regrets, we weren't to know. It was a lot of new scarily complicated information at the time and a lot to figure out. I'd try spend mine as quick as possible as overnight they were way less or sometimes way more, this use to baffle and scare me ha

oh that bigga

Brilliant 🤣🤣

Wrong you forgot to multiply by infinity at the end.

Pretty much all coins vary in value like stocks do. There is finite supply of coins based on mining, which is using processor power to solve pieces of the block chain which gets more difficult as it progresses. However no matter the amount of coins that are availible if they are not wanted then the price goes down.

Often times certain events influance the demand for the currancy. The reason it went down this time was due to a Coinbase announcement that they where not going to be allowing BCH trades for a specific period after the hard fork that happened just recently. A big BTC holder sokd off a shiload of coin which started it to drop and of course others started following suit and sold off their coin as well. There are also things like market corrections, people pulling out to invest in stock or alt coins and a bunch of other random shit. Some of which is predictable and others very much not so.

Hope that kinda sumarizes things.

Shouldn't that coinbase announcement help BTC as it's a substitute for BCH?

The cryto world is even more fickle then the actual stock market. CoinBase is one of the biggest market places / sellers of crypto so it put a lot of people on edge. Been downward a lot since then.

Supply and demand. Not being short here but every price comes down to that.

OK what determines supply and demand?

Supply is limited by mining difficulty so it's always growing at a slower rate. Basically coins are getting harder and harder to mine.

So the bitcoin value should be increasing not decreasing?

How many people want to buy vs sell!
It's the same as the stock market it's customer sentiment.

I noticed my wallet went down a couple days ago, the pound happened to drop at the same time, is this just purely coincidental?

You also have the halving coming up, which will further reduce supply, unlike quantative easing from fiat currency.

It's an indicator of techno optimism and government pessimism.

ha that's great but it's science fiction.

You only have to imagine Trump with the keys to the money supply.

Another prophecy boys and girls, bitcoin went up :)

In the meantime we have LB :)

When I read the title I thought this was about capitalism and making people dependent upon money. Instead this is about the fact that government issues currency and can use that to control everything it touches basically, it's a shocking eye opener.

Yes it's not even the amount of money they have it's that they define it, that's implies ultimate ownership of all of it.

super inspiring wish more people would see how they are played by the system.

All of his lectures are great. I'd recommend the podcasts over the video, they look like a spycam.

Spot on

The evil that is fiat money has only put a roof over my head, given me an education, bought my car, yearly holidays, food, clothes, medication, healthcare, books, games, TVs, drink, drugs, guitars, computers, phones, tablets and countless other goods and services that have brought pleasure, entertainment and increased my living standard over the years. Those who control fiat money are evil. The bastards. I feel like a twat now for been so gullible.

i've been looking for a good roofer, does he take bitcoin

i would have though it was your labour that earned that rather than a central bank.

Yes of course and like a complete idiot I exchanged that labour for central bank issued fiat money that I thought was giving me freedom to satisfy my needs, wants and desires and have a wonderful fulfilling life. What a fool I have been.

I hear ya dog, like an even bigger idiot i learned about bitcoin years ago (from here as a matter of fact) but kept my money in fiat :(

sure, pre 2020 :)

At least with multiple currencies we still have the power to choose, isn't that what freedom is?

Inspirational stuff. Also a great one for sharing offsite and making use of your reference token while you're at it.

Andres is a a legend! Love hearing him speak, so much knowledge to share

There's currently a viral post going around showing a photo in a pizza hut window saying 'credit cards only' and then some crap saying how people will lose control of their assets if we move away from money lol.

It doesn't matter if it's cards, bank deposits or even cash in hand. It's all under the control of a central government that's why it's called "fiat". It can be seized, de-valued, or bankrupted. Given enough time that's exactly what has happened to *every* fiat currency in history.

except the ones in existence today

thats what Sie said

Give it time

I recommend Bittylicious, their fees sometimes are a bit higher than other exchanges, but their service is fast and easy to use

Hi xs8 totally agree 👍 ive used bittylicious the day i first ordered off here. Over 5 years. 😉👍

I agree with this comment

We figured that either local vendors or https://cryptovoucher.io/ aswell as kraken.to seem to be the best(since no ID is needed for purchasing), but local purchase is the most anonymous. Depends on what kind of transaction you are searching for. Some people genuinely like to buy their crypto via coinbase, opposed to other transaction service providers, your funds are handled/held by them till you withdraw them. Cryptovoucher in example lets you buy the btc and sends it to the given wallet adress, which can in fact make transactions cheaper, a bit faster aswell as more anonymous. What kind of Crypto vendors do yall use and why? would be really interested to know what and how you all are getting your hands on and use crypto.

Kraken needs ID bro

Any vendor worth there salt is not going to tell a little upstart like you bugger all..

Who's to say you ain't fishing?

That's fed talk

Do you mean kucoin as they don't request for an ID? Kraken does tho. I use coinbase to purchase here (once I set it up it's worked without fail so why change) Kraken to buy crypto (most secure platform and they actually have customer support), kucoin to buy smaller cap cryptos as they have a long list of them.

ZenGo!! Very good

Coinbase is better though

paybis

Second this, had to upload my ID today….. feels very insecure lol 😂

Coinbase Pro is what I use. So easy via the app. There’s a transaction fee charged to transfer BTC, guess they need to make their money.

Ones I use the most are bittrex, Binance And Coinbase. Also worth doing some research on uniswap (decentralised exchange).

Binance: Binance is one of the largest and most popular cryptocurrency exchanges worldwide. It offers a wide range of cryptocurrencies for trading and has various trading features and services.

Coinbase: Coinbase is a prominent cryptocurrency exchange that is known for its user-friendly interface and accessibility. It supports a selection of major cryptocurrencies and provides a secure platform for buying, selling, and storing digital assets.

Kraken: Kraken is a reputable cryptocurrency exchange that caters to both individual traders and institutions. It offers advanced trading options, a variety of cryptocurrencies, and robust security measures.

Bitfinex: Bitfinex is a cryptocurrency exchange known for its advanced trading features and liquidity. It supports a broad range of cryptocurrencies and offers margin trading options for experienced traders.

Huobi Global: Huobi Global is a well-established cryptocurrency exchange that serves users from around the world. It provides a diverse range of cryptocurrencies for trading, including popular options and emerging tokens.

I’ve been using Luno since I joined here because I was told it was the safest. The transaction fees recently have been insane, like £22-25 a pop. They keep telling me the charges are dynamic or whatever but don’t actually say why they’re so high this month. Considering changing so any advice would be awesome, I have no clue about Crypto etc.

after Binnace I started using Kucoin, flat 0.00005 withdraw charge for all unverified users. always fast always reliable

Coinbase, but transfer to a separate wallet. Coinbase have closed a load of accounts recently

Have always used Localbitcoins (almost 15 years). If you shop about the offers you can get coin without id checks from the sellers. The site makes you provide details initially though.

Coinbase......!Wirex....

I've used Paybis so far. Can be a bit slow but otherwise had no problems.

Hey guys I got mine coinbase account no problem, but my mate tried to open account and its under review for past 4 days. Tried biliticous and got lost. I'm the older generation and really stragle to open account for him. We are totally useless, when it comes to computer's, Please can anyone recommend easy bitcoin exchange ? So my mate can start buying here? Thanks for help

Bitpanda is very easy to use. Fees can be quiet high to be honest but i buy my coin there, send it to my Exodus wallet and then send to vendor from there.

Coinbase for me.

Whitebit i use

I use Kraken to buy initially, transfer to Exodus then out to LB from there. Coinbase aren't great and have been known to close accounts for the hell of it (mine included). My current method saves money and a lot of time compared to coinbase. I'd suggest trading elsewhere.

Just downloaded Kraken I’ll give that ago, I ended up just exchanging and sending through revolut (higher prices) but coinbase has left a bitter taste in my mouth they also manage to vanish another wallet that had a little crypto (not loads but enough to top up orders).

I remember being issues with exodus is this all sorted now?.

I've not had any issues since swapping (maybe 4 months ago). As I said, the transfers to LB are a lot quicker and cheaper so all good.

Well there you go. If you have a mycelium account on your iPhone, find a friend who has a Samsung phone and access to android apps.

Download the mycelium wallet app and access your account on the android app. Download a kraken wallet on on the iPhone and send the funds from the Samsung mycelium to the kraken account on the iPhone.

I hope this helps someone in the same predicament.

Jimmy

Since when?

I have used the mycelium app for months now, no issues sending or receiving on my end.


Last used 2 months ago and have $20 in bitcoin in my wallet, so won't be the end of the world if true.

Don't see any mention online apart from this post, unless I'm not looking hard enough?

Thanks for your reply weed fox. No matter what BTC address I put into the send bar, the app never recognises the address and thus not letting me send it anywhere.

Please help 🤣

Mycelium is old wallet.. you can only send to btc wallets starting with 1 or 3.. if your using iPhone..

I think if you use android you can send to any wallets

Thanks man! I appreciate it!

Do I need a wallet to get butcoins at a atm ? What bitcoins sites dies without ID help needed

I can send you my wallet address and you can try and send all your bitcoin to me!

Honestly man I'm not that knowledgeable on the whole thing myself. I use the QR code from the lb payment page and that sets the amount and the address automatically for me. I then set the gas fee myself.

It was mid March last time I sent anything, so maybe the issue is new? Hope you get it sorted Jimmy 🤞🏻

Very good idea. Its confusing for newbies! <3

Once I have my coins how do I send them?

If you have your coins they are in a bitcoin wallet (like blockchain.info's) or an exchange account (like coinbase). Either way you will see a button for "send bitcoins" click on it and it asks for an address.

When you buy an item on little biggy you get a bitcoin address to pay for it. You get the address when you click on the "pay now" button. Just copy and paste it and you're done. You usually see confirmation in a minute.

Relax and remember if you have any problem there is no way to "lose" bitcoins, the record of where the coins went is public. There is no " I sent the check in the mail "nor " I never got your payment.

The motivation behind them is hugely different. bitcoins were created by libertarian types, looking to create a free world on the internet.

Ethereum was more about technical perfection for such an effort. It's not only a coin but a language for commerce between machines.

Smart contracts and way cooler community and ideology. Everything starts with an eth. Google Defi, in case you hadnt heard about its recent explosion. The peoples financial system is emerging quickly. BTC looks old in comparison and should play a role as the vaults of crypto, but nothing at all exciting going on. Eth on the other hand...

The ethernet blockchain is "Turing Complete" you can program anything on it. Get a metamask extension for your browser and you can cruise a "decentralized web" that runs on top of the ethernet blockchain. These sites are more resilient than the tor hidden service they really can't be taken down since there is no server.

I had about £300 left in my wallet bought at $63.5k last week, so it looks like I'm topping that up when it dips below $50k and sitting tight for a few weeks... There was chatter a few days ago of it hitting the previous low around this mark before rallying back to the previous high, and higher. Whatever I do, I'd suggest everyone does the opposite, based on my track record.

Whole market is fucked. Worst day of US stock trading in years on Friday and record losses in Japan. Mass sell off of crypto assets to cover margins. Now there’s a lot of trad Wall Street money in BTC etf’s it’s gonna be more affected than normal by stock crashes.
Although this is pretty rough short term it’s pretty bullish overall as people will look to move money from the traditional markets.
Gonna be blood red across stock portfolios when markets open.
If you zoom out and see BTC was 15k 18 months ago I’d say a pullback is necessary. New all time high before the years out 🙏🏻

Shits crazy. We all know it's volatile. But that level is crazy.

Gonna be a sit tight and HODL.

Babbstar1 will be running our bitcoin promo again. All orderscompensated with extra goodies until it recovers to 60k.

Enjoy !! 😍😍

Revolut is your good friend, you can purchase on there

One to remember if I get any grief with Monzo, cheers

Your most welcome

Santander ask far too many questions and try tell you were and who you can transfer your money. Agree monzo and revolut are the way forward

Right, I've now got a Monzo account that I can use to buy via Bitpanda and then transfer into my Exodus wallet and buy from LB that way. Hopefully this shouldn't flag up as suspicious activity as I'm just buying crypto right????

Yep, should never be suspicious activity since we have a right to spend our money how we chose. These banks are criminal. Move away from the big chains if you can, they hold too much power.

- molly x

Sidenote...you can send from bitpanda straight to LB Transaxe👍🏻

I did that for ages with Coinbase until September last year when they blocked my account with £300 in it. It's now worth about £700 but I'm still battling to get it back. If they don't want my business then fine, just give me my money. Bunch of thieves.

RBS was the first bank to stop me buying bitcoin then my Monzo account stopped it. Currently using a Revolut account which lets me convert cash to bitcoin easily. Last order for $130 was about $5 for the fees.

I thought that Monzo was ok for Crypto? Just in the process of applying for an account but if they're not Crypto friendly I'll go with Revoult. Cheers for the advice.

It was fine for a few months pal then just stopped me buying bitcoin on my Exodus account.

Are you doing card or transfers from your Santander account?….Lloyds blocks my debit card but allows direct transfers 🙄

Transfers from my Santander account via online banking and via the app. My other account is a TSB one which has no chance of allowing me to buy Crypto.

Sorry to hear that- bunch of twats!

I did engage with Lloyds over it because I just don’t see how they have the right to control what I buy. I was put through to fraud prevention and I had to answer various questions to convince them that my frequent small sends to Bitpanda were of my own violation and that I understood the risks and I wasn’t being coerced🙄. They said that Visa would still block it on my card not them, but they would allow direct transfers from my current account.

May be worth chatting with Santander?…

Thanks for the advice Polly, it's worth a try and I shall now have to brave the dreaded call centres. It's a joke that whilst what I will actually buy with the BTC is illegal, the actual purchase of the crypto is not. It's my bloody money after all! They really do not like us not using their institutions do they!

It is incredible.
Even the newspapers that were revelling in the big falls with "we told you so!" articles are now running with "why crypto in your portfolio makes sense with stratospheric gains!"...
I said to Lloyds- "if I want to drip feed small amounts and build up a crypto stake 100% at my own risk how can you block that? Every week you try and get me to buy a stocks and shares ISA, so there are no risks in the stock market then? At the first naval blockade of Taiwan by the Chinese, $10 trillion will be wiped off global markets. But you are still trying to flog it to me!"

Wankers....

You could argue gold was the 1st decentralised currency in being that even today it stands as currency. technically paper money and bank accounts are just a reflection of how much gold and silver a person has

I thought the first decentralised currency was actually salt and seashells;)

i'll trade you said gold for one thousand bottle caps...

You sent with too low of fees by mistake, it will either eventually confirm or be forgotten by nodes after 2 weeks and return to your wallet.

Im watching £88 at mo god knows what it means haha.

You watching it progress through the chain? Nearest to the dotted line is what you want...

Wish i knew what that meant, i only check it to see how high fees might be, this dont look good.