Non - Bitcoin football

“We share in Peter’s deep conviction in Bitcoin and its ability to supercharge RBFC’s quest to make it into the Premier League,"

:rofl:



There's only one way this one is going to end

Premier League ready ground as well

RB-Wyc 10.jpg
 
Bitcoins only value lies in there being someone else wanting to buy it off you for more than you paid for it. When I say pay I mean with real money.

See South Sea Island Bubble and the Dutch Tulip market about 400 years ago.

One day someone is left with something that they paid a fortune for and no-one wants.

Oh and it doesn't exist in the first place.
 
I will never for the life of me get my head around the way Bitcoin - or any other digital currency - works.

Apparently, this bloke could be a billionaire, if only he could find his hard drive:

www.walesonline.co.uk

Man who threw away hard drive 'with Bitcoin fortune on it' launches legal fight

James Howells, 38, made the calamitous mistake ten years ago and has a team ready to try to search the landfill site - but Newport Council won't let him
www.walesonline.co.uk www.walesonline.co.uk
 
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AFCBfan said:
I will never for the life of me get my head around the way Bitcoin - or any other digital currency - works.

Apparently, this bloke could be a billionaire, if only he could find his hard drive:

www.walesonline.co.uk

Man who threw away hard drive 'with Bitcoin fortune on it' launches legal fight

James Howells, 38, made the calamitous mistake ten years ago and has a team ready to try to search the landfill site - but Newport Council won't let him
www.walesonline.co.uk www.walesonline.co.uk
Click to expand...

It's a combination of belief and scarcity. A bit like gold, where while it is physical and has some utility, the value of it's utility is orders of magnitude lower than it's value as a wealth store.

What's a coin other than a chunk of metal that represents an abstract concept of currency which we all agree is a thing?

The physical aspect disappears with real money once you get past the contents of your wallet anyway. There's no vault full of your cash at the bank it's just a ledger on a computer somewhere.

The thing with bitcoin is that the ledger is something that lives distributed on the internet.

Lots of crypto is effectively a ponzi scheme either intentionally or by accident because people see it as a get rich quick scheme but there are genuine reasons to like it.

There's no governing body like with 'real' currency. The value of the pound for example is influenced by the BoE interest rates and policies such a quantitive easing (making more money just appear for the government). There's also the issue for those that like to stuff money under their mattress that notes expire and trying to exchange large quantities of notes will draw attention.

Gold can be bought physically to avoid the above issues but you need to ensure the quality and there's overheads to trading/exchange that you don't have with crypto.
 
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