Bitcoin

Jackov Altraids

Member
Livestock Farmer
Location
Devon
There are many crypto-currencies around now. I can't believe that they are taken seriously when they are the only traded items that I can think of that have no residual value whatsoever.
If in a wild moment of stupidity, Bill Gates bought all the bitcoin. What has he got that is worth anything to anybody else?
 

B'o'B

Member
Arable Farmer
Location
Rutland
An old school friend mines this Bitcoin he seems to have one hell of a lifestyle. He tried to explain it to me over a dozen beers how it works, wish I could remember
Massive amounts of money have been made by early investors. But past performance does not necessary reflect future performance.
 

Jackov Altraids

Member
Livestock Farmer
Location
Devon
An old school friend mines this Bitcoin he seems to have one hell of a lifestyle. He tried to explain it to me over a dozen beers how it works, wish I could remember

I don't really understand about how it is "mined" blockchain but the way I see it is like this;

Somebody made a piece of paper and cut it in half. They wrote their name on half and kept it and threw the other half back in the pot to see who cut cut that piece in half quickest. The process keeps repeating with a higher requirement of time and energy to cut the ever decreasing piece in half. There is a point at which it will cease to be possible and the 'value' derives from it being easier to buy a piece than cut a new 'half'.
The trouble is, the piece of paper was never actually worth anything in the first place.
 
I don't really understand about how it is "mined" blockchain but the way I see it is like this;

Somebody made a piece of paper and cut it in half. They wrote their name on half and kept it and threw the other half back in the pot to see who cut cut that piece in half quickest. The process keeps repeating with a higher requirement of time and energy to cut the ever decreasing piece in half. There is a point at which it will cease to be possible and the 'value' derives from it being easier to buy a piece than cut a new 'half'.
The trouble is, the piece of paper was never actually worth anything in the first place.

Well, a thousand dollar bill is just a piece of paper.........or a UK pound ......or whatever,.
Its' a promise that this paper token is worth that new tractor.
On U.S. money is written a little motto "In God we trust"..................can't write that on a bitcoin.
 

Kiwi Pete

Member
Livestock Farmer
Father in law is a project manager/consultant and was very excited about Bitcoin when it came about, reckoned there was big money to be made.

He’s currently bankrupt and facing eviction from his house.

‘nuff said about it
Not enough diversification?
It's certainly very 'volatile', for want of a better term, there is money to be made and money to be lost as per any trading activity.
I had a brief dabble, timed it OK, made a few $$ and made a strategic retreat.

I think another boom is about due, one of the unique things about cryptocurrency is that they aren't making more; unlike real currency where "quantitative easing" is standard practice.

So it's relatively safe to trade by comparison to, say, buying Venezuelan Bolivar ten years ago and keeping it under the mattress

The key with trading is to trade, not park, just like livestock.
Keeping livestock = incremental gains and losses
Trading livestock = larger possible gains and losses
 

SFI - What % were you taking out of production?

  • 0 %

    Votes: 80 42.3%
  • Up to 25%

    Votes: 66 34.9%
  • 25-50%

    Votes: 30 15.9%
  • 50-75%

    Votes: 3 1.6%
  • 75-100%

    Votes: 3 1.6%
  • 100% I’ve had enough of farming!

    Votes: 7 3.7%

Red Tractor drops launch of green farming scheme amid anger from farmers

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As reported in Independent


quote: “Red Tractor has confirmed it is dropping plans to launch its green farming assurance standard in April“

read the TFF thread here: https://thefarmingforum.co.uk/index.php?threads/gfc-was-to-go-ahead-now-not-going-ahead.405234/
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