Why the hell anyone would let you buy Bitcoin (or FOREX, or stocks, etc) on a credit card in the first place is beyond me. Did Lloyds just totally fail at oversight for 9 years?
Was not just Lloyd’s and you can buy it on most major credit cards before last Friday. It’s how I brought one and then resold it off a lot later on.
It's a contradictory sentiment. If most people HODLing crypto are morons then these news won't act as they would in a regulated universe (e.g. not allowing spread betting on credit card I think you'll find that people will panic and sell off. 5k btc here it comes :>
I’m not sure if this is the end of it all - mining, crypto as an investment, etc - or just a test of the weak willed. But at least I didn’t put in a lot.
Bit of both if major government crackdown continues the crypto will have major struggles to recover. The 2 biggest markets where always South Korea and China. China wants to ban all ways to buy and sell the coins in China. If that goes through then crypto could well be done for. We might like to think the UK and USA is big markets but the reality has been shown these passed few weeks with news from outside those 2 having a huge effect on the price. Need a week of none price drops to really say we have saw the bottom either. Reading around suggests we have not.
If it is the end or, at least enough of a problem to stop so many jumping on the mining bandwagon, we might at least see graphics card prices dropping a bit and availability improving.
Samsung is getting in on the ASIC game... https://www.google.com/amp/s/techcrunch.com/2018/01/31/samsung-confirms-asic-chips/amp/
Found this article really interesting https://www.reddit.com/r/CryptoCurr..._will_tell_you_exactly_what_is_going_on_here/
That's been doing the rounds for a month, and every bugger's reported it wrong (or, at least, misleadingly): Samsung ain't doing jack with cryptocurrency mining. Samsung is manufacturing a chip design for a customer, and it couldn't care less what that design is. If I had the cash, I could pay Samsung to build a non-functional chip that was nothing but a picture of J. R. "Bob" Dobbs etched into the silicon and it'd gladly do so - wouldn't mean Samsung was getting into the SubGenius business. If you want to get a chip made, there are only a handful of companies who can actually do that - and Samsung's the biggest, and one of the minority who will readily accept jobs from third parties. (Intel, the second-biggest, only recently started offering its spare fab capacity to third parties, and even then it's only taking on a handful of customers.)
Not to toot my own horn too much, but some of the people who have been mining for a long time knew all along the inflated prices where not worth the risk, so yeah hopefully demand will drop off now and prices return at least close to normal.
Some nice green candles on the charts atm - SEC meeting news is supposedly going to be quite positive too, essentially admitting blockchain and crypto currency as a future finance model is inevitable, which could see a further consolidation.
What exactly do you mean by "normal"? I don't think there is a normal. Cryptocurrency has no inherent value, it is uninsured and not pegged to a tangible asset - the percentage of volume that's actually attributed to an exchange for goods is proof of this. It's minuscule. "Knowing all along" just isn't a thing here. Don't get me wrong, I'm hugely interested in where blockchain technology will take us, but statements like that are unfounded. It's no different to saying "I know BTC would hit $20k".
The number of articles covering someone who got lucky claiming to be some sort of visionary tickles me. Like this asshat... http://uk.businessinsider.com/bitcoin-millionaire-erik-finman-cryptocurrency-2018-1 No, taking €1000 from your education fund at the age of 12 and putting it in bitcoin makes you a grade A asshat. A very fortunate asshat, but an asshat none the less.
Laughable that anyone would listen to someone who got basically got lucky on a bet he had no influence over.
