Off Topic Bitcoin .

Gold is money , perhaps all off topics should be related to money ? All others deleted ....

Just read that if you had invested $1 in Bitcoin in 2010 it would be now worth $90,026 . I did buy 10 Bitcoin in Aug. 2016 for $793 each . It would be nice if I still had them .....

Did you do your dough?? If so I thought Bitcoin was a scam.

Bitcoin is not a scam . You need to read more about it . At the present time money invested in Bitcoin is US$158 billion . One Bitcoin is now worth AUD$12,679 . I do not own any Bitcoin but I hold other cypto coins . Since the boom times , I have had to hold them or sell them at a loss .

Should have brought some rhodium a few years ago

Minermike wrote:Bitcoin is not a scam .   You need to read more about it .   At the present time  money invested in Bitcoin is   US$158  billion .   One Bitcoin is now worth  AUD$12,679 .   I do not  own any Bitcoin  but I hold other  cypto coins .  Since the boom times , I have had to hold them or sell them at a loss .

Just to put this in perspective, Australian Super funds hold more than 2.7 Trillion dollars. Makes bitcoin fairly small change IMO

https://en.wikipedia.org/wiki/Superannuation_in_Australia

I was just trying to point out that Bitcoin was not a scam IMO. Others will believe it is a scam and the world is flat .

recently an add promoting bitcoin appeared in my e-mail and it certainly sounded great but being in the unsuperanuated pensioner league I thought caution was the order of the day and that is why , miner Mike, I wrote what I did to sus out the territory , as it were..Thank you for replying..dundiggin.

Anyone who was holding Bitcoin at its price peak then offloaded it and used the funds to buy Palladium Bullion
would be doing very well profit wise. Who would have guessed that?

It now seems HAMAS is using Bitcoin to finance terrorism. I know nothing about Bitcoin but it is probably using as transactions of Bitcoin may be easier to hide. These groups will stop at nothing in their efforts to destroy Israel.

And all the crims and druggies !

To day Bitcoin is  AUD$15,598.54 . Well .... at one time I did have 10 Bitcoin , now worth AUD$150,598.54 . In 2016 I paid $793 each not sure if that was Aussie or Yankee dollars ..... Better than investing in shares .

Minermike wrote:To day Bitcoin is  AUD$15,598.54 .  Well  ....  at one time I did have 10 Bitcoin  ,  now worth  AUD$150,598.54 .     

Mike, Think we have all been there one way or another, what's gone is gone, no going back.
Sold an ounce or three back in '82 to the Perth Mint, think it was about $300.00/0z back then. Very happy with a months holiday, Thailand, Hong Kong & Japan.
Wonder what sort of holiday I'd get at todays price?
During the Poseidon boom in the 70's a mate borrowed and bought up big with shares, all the time encouraging me, never did.
Today he lives in a home conservatively valued at $3.5 million.

I simply cannot get my head around something that doesn't actually exist in the real world being worth anything. The price of a bitcoin is it's price not its actual worth. Call me old fashioned but if I cannot see it, hold it or feel it I am very wary of it. Poseidon shares I can understand as it was an actual mine but bitcoin is like fairy farts you cannot hold them in your hand.

granite2 wrote:I simply cannot get my head around something that doesn't actually exist in the real world being worth anything. The price of a bitcoin is it's price not its actual worth. Call me old fashioned but if I cannot see it, hold it or feel it I am very wary of it.  Poseidon shares I can understand as it was an actual mine but bitcoin is like fairy farts you cannot hold them in your hand.

To be honest most transactions today are in digital form.Even a wallet with cash is just a wallet with bits of paper inside.I see no difference in a Bitcoin wallet used to purchase goods or a paywave transaction with a chipped card.
Once the governments start to print money to cover debt our paper money will start to devalue and gold or bitcoin will be the best bartering system.
You can already see when the stock market has a hiccup,Gold and Bitcoin rise together as a safe haven.

Bitcoin is now AUD$26,000 . I wish I had the money to buy some before . Like Trump there are the believers and non believers . I do not have any Bitcoin .

Bitcoin invested via Usitek (spelling unsure of) was nothing but a SCAM, the mongrels running that SCAM walked away clean with 800 million dollars and blamed the scam on something else.

Invest in imaginary money that seems to good to be true and you will get burnt.

In Australia today; Can you walk into a car dearler-ship and buy a lamborghini with bitcoin?
Can you purchase a house at auction and pay with bitcoin?

adrian ss wrote:In Australia today; Can you walk into a car dearler-ship and buy a lamborghini with bitcoin?
Can you purchase a house at auction and pay with bitcoin?

I don't know, but in Australia today they are making it harder to even buy stuff with real cash money, well cash is legal lets keep it that way.

Total control will come fast enough, plastic cards = another total control method, now they even want electric cars fitted with a tracker so they can tax them by the kms they travel.

They have or are talking about making the poker machines "CASHLESS" it just means I won't even put a couple of $ in them around Christmas time at the RSL club.

The banks got into a heap of trouble for supposedly money laundering, well do you suppose that Bitcoin might be used for this?

Anyhow to get back on topic, if Bitcoin floats ya boat them more power to ya.

Can I buy. Coffee with bitcoin? No.
Can I buy a haircut with bitcoin? No.
Can I buy my groceries with bitcoin? No.
Can I buy a new fridge with bitcoin? No.
Can I buy A car with bitcoin? No.
What does bitcoin produce that is of any use? Nothing.
My money can be in shares, Super or the bank and it is helping the entire economy by actually producing things we need.
I can hold my cash in my hand and know it's there. I can hold my card or phone in My hand and no it is a conduit to my cash at a moment's notice.
How do I get change from my $18000 bitcoin when I buy a fridge?
Bitcoin is for making money but that is all it does but manages to do that without producing anything.
I'll stick with our current system.

I did read but have not looked into it , that the Chinese are introducing a crypto currency for their people . It will be a fixed price and backed by the government [run ] .

Bitcoin is only suitable for large transfers of money . The fees are very small compared to a bank . I think the largest transfer of Bitcoin was $300 + million , no it was not me !

Just Googled up largest transfer of Bitcoin . It was 88,857 Bitcoin worth $1.15 billion . Fees for the transfer $3.58 .

Sell ! sell ! sell ! Bitcoin going down very fast .......

So if I put all of my uranium mine shares up for sale on Ebay and a buyer says "Hey mate I'll take em all, I can pay in bitcoin.
n I'll say "sure mate no probs, just sell some of yer bitcoin to the cash sale value of the shares n I'll meet ya at coffeee club fer a cuppa. Bring the cash n I'll bring the shares".....No cash, no shares.    

Maybe I should buy some wind farm shares??.... NAAAAAH. My money would be just blowin in the wind.

If you have uranium mine shares , you are loosing . I worked for mineral lab .in Sydney we had many tons of uranium , maybe 100 flown in from east Africa . We did the sample prep . and then sent them to Ansto . All the samples had to go back to Africa , they went back by sea ....

I will be meeting up with my old boss , next week , he will tell me exactly how many tons .

At least I can buy detecting gear with nuggets, or simply turn my nuggets into cash. In many places. But I also like to keep some around so I can see that beautiful golden glow and toss it in my hand to feel the solid weight of it. Can't do that with something that exists only in cyber space.

Minermike wrote:If you have uranium  mine shares  , you are loosing .   I worked for mineral lab .in Sydney    we had many tons of uranium  , maybe 100  flown in from east Africa .   We did the sample prep .  and then sent them to Ansto  .  All the samples had to go back to Africa ,  they went back by sea ....

I will be meeting up  with my old boss ,  next week ,  he will tell me exactly  how many tons .

One day when we realise that wind and solar is just not going to cut the mustard, we will fire up our own uranium mines and put it to good use instead of flogging it off overseas.

The new SMRs are getting closer. Can't wait.

An interesting read, and in particular re the Olympic dam Site.
https://www.world-nuclear.org/information-library/country-profiles/countries-a-f/appendices/australia-s-uranium-mines.aspx

I used to drive  across  the Olympic Dam  mine site before there was a mine there .   It was a short cut from Andamooka to Coober Pedy .

I never got stopped by the Rocket Range police .  If they stopped  you ,  they sent you back and you  had to go the long  way around .

There is another ore body that has been found about 30 kms. ? away . The ore body is circular in shape and rich . The problem is it is at 1,000 meters but they are going to develop it .

sorry .. just can not see value in 10011010100100011110100011