Bitcoin hits new record of $50,000
16/02/2021 | news | business | 1,208
The digital currency has gained 72% so far in a volatile 2021.
1
16/02/2021 16:21:21 19 16
bbc
BitCon
47
16/02/2021 16:53:51 11 6
bbc
Hahaha good one! No one's ever said that before!
647
16/02/2021 20:20:01 0 1
bbc
The DaftHalf is more suitable for you
2
MVP
16/02/2021 16:23:50 34 20
bbc
Bit like the South Sea Bubble or the 1637 Amsterdam Tulip Bulb crash
46
16/02/2021 16:53:34 13 14
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Not all like them.
153
16/02/2021 17:29:10 7 3
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Except if you do some research, it's nothing at all like them
How old are you? Removed
725
16/02/2021 21:09:03 1 2
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Similar comments were made during the last run in 2017. Back then those idiots who bought into this pond scheme at top would have nearly quadrupled their investment.
946
17/02/2021 08:51:33 0 1
bbc
Have you actually compared Al those three famous market crashes in a graph to see similarity and differences between them? I can tell you haven't.
3
16/02/2021 16:24:11 12 10
bbc
A coin worth $50 000? How's Elon Musk going to give you your change, or aren't you expecting any?
22
16/02/2021 16:41:14 26 5
bbc
Each bitcoin can be divided into 100 million units (called sats), so change of even a fraction of a penny is possible. You don't have to buy/sell a whole bitcoin.
654
16/02/2021 20:23:25 1 1
bbc
Showing your utter ignorance here Best to be quiet & people won’t think less of you
657
16/02/2021 20:26:59 0 1
bbc
Musk is already up $500 Billion on his $1.5Billion Bitcoin purchase In comparison Tesla made $720Billion last year
4
16/02/2021 16:25:16 45 27
bbc
Tulips anyone?
7
16/02/2021 16:28:08 24 29
bbc
Actually, replying to myself, I'm a fan. Anything that takes control of currency away from the hands of central banks and governments has to be a good thing. Should be inflation proof too due to limited supply.
722
16/02/2021 21:06:21 1 1
bbc
Didn't people say this in 2017 when it reached $19k...
5
16/02/2021 16:25:23 47 20
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fiat currencies have no intrinsic value, cyber phantoms even less so.
105
16/02/2021 17:12:28 20 16
bbc
True, but at least I can still spend my fiat (not to buy digital....which is akin to throwing good money after bad), in my opinion
979
OwO
17/02/2021 09:36:46 0 0
bbc
Fiat currencies are backed by the issuing country, which has mechanisms to control the supply, value etc. The people ultimately in charge of this (the govt) are elected democratically.

Bitcoin has none of the above, and infinitely more volatility. The argument that it has any practical, legal use case is ridiculous.
17/02/2021 15:57:40 0 0
bbc
Elon musk owns bitcoins he backs it so does Bill gates
6
16/02/2021 16:27:04 82 74
bbc
The real value of a Bitcoin is actually less than 1p, because a 1p coin has intrinsic value in the metal it is made of. Bitcoin has no intrinsic value and no purpose other than money-laundering. Given that the electricity to "mine" new coins is greater than the consumption of Argentina (c.f. news last week) it is high time this was closed down once and for all.
34
16/02/2021 16:51:04 65 17
bbc
Fun fact - gold is much more energy intensive to mine than bitcoin.
57
16/02/2021 16:58:18 14 5
bbc
A £1m bank deposit or £20 note has no intrinsic value either. Bitcoin now has a role as insurance against collapse of the current financial system amongst other things and cannot be closed down, only regulated to some degree at the exchanges.
65
Bob
16/02/2021 17:00:47 3 8
bbc
My word. A bitcoin article that actually has an accurate comment as the top comment.
98
16/02/2021 17:09:54 3 8
bbc
Governments love Bitcoin cos it's (dopey) "value" keeps the price of gold and silver lower than what they would be. "digital gold"....so is my *rse!
132
16/02/2021 17:22:28 8 7
bbc
Bitcoin's energy consumption is high, but most of it is from renewable sources. Compare that to the global banking system's energy usage? Or other (e.g. precious metals) mining operations?
133
16/02/2021 17:23:05 6 4
bbc
The real value of a £5 note is tiny.
What's your point?
142
16/02/2021 17:26:17 11 1
bbc
The real value of a Bitcoin (or anything for that matter) is what someone is willing to pay for it, which is ~£35000. That's how economics works.
146
16/02/2021 17:27:02 7 3
bbc
I don't think you understand Bitcoin. It exists in the form of computer code but you cannot close it down because it belongs to the people who own it. It bypasses the entire traditional financial system, particularly the banks, and allows you to trade freely across the world. Whilst it's true that it has been used for illicit purposes it is increasingly being used legally.
148
16/02/2021 17:27:14 9 4
bbc
Seems like someone is sore cos he missed out ..
149
16/02/2021 17:27:16 10 4
bbc
Haha oh dear, such an uneducated post and liked by people equally as uneducated presumably

Is a five pound note only worth the paper it's printed on? No

What drives the value of gold - demand, because it's pretty rather than useful (Also worse carbon footprint to mine I might add)

Assets and fiat for that matter are only worth what people are prepared to part with for them
190
16/02/2021 17:43:27 1 0
bbc
Seeing as you are writing this this online using an electrical device, one can assume you are using fiat money almost every day.
199
16/02/2021 17:47:55 4 1
bbc
So what's the value of your £10 note then? What's that backed by?
229
16/02/2021 17:55:40 9 1
bbc
The internet will never catch on either... :-)
248
16/02/2021 18:04:46 9 2
bbc
Sadly such an ill informed statement.. typically peddled by mainstream media.

The BBC is supposed to unbiased yet none of its reports ever highlight the remarkable technology of bitcoin & it's blockchain.

Bitcoins value is its code base, built and maintained by talented programmers over the last 12 years, it's utility and scale of network.

You could argue no digital company has "real value".
255
16/02/2021 18:06:28 2 1
bbc
so how much is a 50p coin worth then?

if it has a picture of Kew gardens on it?
355
16/02/2021 18:36:37 5 2
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The anti Bitcoin propaganda machine roles into action
388
16/02/2021 18:42:35 4 0
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"it is high time this was closed down once and for all"

This is the whole point. Crypto is not subject to the whims of governments, corporations or people. It can never be closed down. And that's why the governments and banks are so fearful of it and desperate to damage its reputation: because they cannot control it.
692
16/02/2021 20:50:04 3 1
bbc
Bitcoins intrinsic value is in its mathematically limited supply of 21m. Its value is derived from its decentralised infrastructure (no central authority can control it or create an unlimited supply, unlike the GBP currency). You can literally send bitcoin to anyone, anywhere in the world at anytime for pennies. Try sending £1m to someone in africa on a saturday and see how far you get.
875
16/02/2021 23:04:34 2 0
bbc
No idea... Bitcoins intrinsic value is being the first money system with the ability to store all the money for every individual, corporation and government in a decentralised system, the first of its kind. Money laundering - All Bitcoin transactions are stored publicly, worst possible place to launder money. Bitcoin uses a fraction of the energy of the current banking infrastructure.
4
16/02/2021 16:25:16 45 27
bbc
Tulips anyone?
7
16/02/2021 16:28:08 24 29
bbc
Actually, replying to myself, I'm a fan. Anything that takes control of currency away from the hands of central banks and governments has to be a good thing. Should be inflation proof too due to limited supply.
10
16/02/2021 16:35:38 8 5
bbc
When you have multiple Crypto currencies being created on a whim its not a hedge against inflation...
115
16/02/2021 17:14:57 1 2
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You do make a good point. The banks have only themselves to blame.
127
16/02/2021 17:21:29 3 3
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Inflation proof? But volatile beyond any other mainstream financial instrument or holding?

On one hand you may lose out to inflation by a couple of percent per year, or alternatively, lose half your net worth in a matter of weeks. Seems like a terrific hedge against inflation.
8
16/02/2021 16:30:00 54 36
bbc
Driven by gambling and greed. This just one massive bubble waiting to burst.
49
16/02/2021 16:51:54 43 11
bbc
A bubble that bursts every 4 years before re-inflating to higher highs.
267
16/02/2021 18:13:06 5 2
bbc
Sounds very much like the stock market.
408
16/02/2021 18:50:23 6 2
bbc
You're describing the world's existing financial and economic system there. Remember 2008?
620
16/02/2021 20:10:29 4 2
bbc
Sounds like stocks shares & bonds to me Negative interest rates are on there way
830
16/02/2021 22:36:47 3 2
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The mumblings of a jealous man pondering why his gamble on other stocks and shares are all in the red...
9
16/02/2021 16:35:00 28 25
bbc
The biggest con job in history.
43
16/02/2021 16:52:59 11 5
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LoL
192
16/02/2021 17:45:52 3 0
bbc
Believing there is democracy in the U.K. runs it close????
249
16/02/2021 18:05:02 1 0
bbc
So far ;)
644
16/02/2021 20:19:07 1 0
bbc
Fiat currency backed by men with guns not gold
7
16/02/2021 16:28:08 24 29
bbc
Actually, replying to myself, I'm a fan. Anything that takes control of currency away from the hands of central banks and governments has to be a good thing. Should be inflation proof too due to limited supply.
10
16/02/2021 16:35:38 8 5
bbc
When you have multiple Crypto currencies being created on a whim its not a hedge against inflation...
50
16/02/2021 16:52:57 3 2
bbc
It's down to the network effect.
588
16/02/2021 19:59:24 1 1
bbc
How ignorant are you Educate yourself then comment
11
16/02/2021 16:36:21 53 7
bbc
This looks great!
I think I'll tranfer all the funds and shares in my pension pot into BitCoin.
What can possibly go wrong?
88
16/02/2021 17:06:50 11 6
bbc
You made me smile
141
16/02/2021 17:24:23 9 6
bbc
That's what I did. I'm up 400 percent. How about you? 3 percent?
404
16/02/2021 18:48:58 6 3
bbc
Leave it where it’s at & in 6 months time the Bank of England intends to instruct the banks charge you negative interest rates Hyper inflation & a stock market crash will decimate your pension pot What could possibly go wrong?
537
pcw
16/02/2021 19:35:58 3 0
bbc
Look at the numbers you should have done that at Christmas, yes then you could have retired!
629
Jay
16/02/2021 20:12:33 0 0
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I know you are taking the mick, but if you ever do, make sure you buy BTC and not BSV or BCH. Lots of pretenders to the crown.
17/02/2021 10:32:11 0 0
bbc
The internet is full of stories who did that before the previous crash.
12
16/02/2021 16:36:58 87 24
bbc
No currency has intrinsic value, it's all based on confidence, liquidity and means of exchange. Bitcoin has the advantage, unlike central banks, of not being influenced by politicians who will always devalue currency for short term gains (putting the printing presses on / Quantitive Easing).
71
Bob
16/02/2021 17:02:08 30 41
bbc
All physical items have intrinsic value. Traditional currencies have physical versions, even if most of it is virtual. Cryptos do not, and that's the key difference.

That doesn't stop either being seen as items of worth, but you can't use the intrinsic value debate here.
123
16/02/2021 17:18:41 5 0
bbc
And on the other hand, it is utterly useless for buying anything. Would you agree to being paid in a currency that means in one month you could buy a small car, and the next month barely cover your rent?
186
16/02/2021 17:41:22 0 0
bbc
*Quantitative
222
16/02/2021 17:54:28 6 3
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Well said and most people don't know there will only every be a limited number of Bitcoins..so the value will increase
256
16/02/2021 18:07:40 4 9
bbc
Bitcoin has the disadvantage of having very limited means of exchange.
This is a pyramid scheme driven by tech-savvy opportunists.
The BBC giving it any coverage is scandolous.
264
16/02/2021 18:11:54 6 4
bbc
Unlike gold, Bitcoin has rival altcoins such as version 2 of Ethereum to be released in the near future, which is arguably an improved version with inbuilt scalability, and functionality.

People can jump ship to newer versions (hard forks) of cryptocurrency in a click of a finger - sending Bitcoins value plummeting .
13
16/02/2021 16:37:18 2 4
bbc
Finally I can buy that house I always wanted with my 10 Bitcoins.

I'm sure I won't laughed out of this transaction like last time. Times are different now...Oh Yeah! The Good Times are here.
41
16/02/2021 16:52:39 0 2
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Same. This is gentleman!
83
16/02/2021 17:05:59 0 1
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Dream on, dreamer
14
16/02/2021 16:37:26 3 2
bbc
World Governments need to make minds up?
Seems some financial institutions are thinking of embracing digital .. what's the score
19
16/02/2021 16:39:23 1 5
bbc
Crypto
40
Bob
16/02/2021 16:52:34 2 1
bbc
The world's currencies are already digital. Crypto being digital is not a benefit over fiat currencies - it is a myth.
15
16/02/2021 16:37:37 72 41
bbc
The comments already are funny. People talk about how crypto is "worthless" while completely oblivious to how fiat works.
The £20 note in your pocket is only worth what we decide it's worth. It's not backed by anything other than faith. It's exactly the same as crypto, except less secure since fiat can be counterfeited.

Crypto will replace fiat within 20 years.
21
16/02/2021 16:40:43 12 5
bbc
whats fiat ,excuse my lack of crypto knowledge
25
16/02/2021 16:44:02 18 5
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Exactly. Fiat is 97% digital anyway and backed only by (ever decreasing) trust. If anything Bitcoin is more attractive precisely because it’s not controlled by government and can’t be printed till it’s worthless - it’s also cheaper to transfer with no fx/ card fees..
42
16/02/2021 16:52:46 12 11
bbc
The £20 in your pocket can be exchanged for other goods in any shop in the country. The bitcoin on your hard drive can be, oh.
74
16/02/2021 17:03:43 4 7
bbc
20 years is a long time
242
16/02/2021 18:03:12 1 5
bbc
Unlike crypto (environmentally insanely hostile because of the lunatic amount of electricity consumed in mining them), fiat has public confidence & the chance to be underpinned to a degree by tax revenue in the future.
Crypto doesn't have even that minimum.

And don't mention Venezuela, that's just a choice of which fiat you like, real solvent fiats like $/£/Yen/Euro/SFr/etc. or basket cases
260
16/02/2021 18:10:29 1 2
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Crypto will replace fiat within 20 years.
No.
But crypto con men will be up for parole.
292
16/02/2021 18:21:30 0 0
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Too right
356
16/02/2021 18:36:56 0 1
bbc
And if it even looks remotely like doing so, will be regulated by Governments who aren't going to sit back and let it happen.
The £ in your pocket is backed by an entire financial system and tax revenues.
Crypto is entirely faith based and can be stolen/hacked/lost. Plenty of caces of that happening.
431
16/02/2021 18:57:00 0 0
bbc
The value of a fiat currency is a reflection of its country of origin. It's backed by government, the people, the economy, and traded openly to provide a stable exchange of value within / between complex economies. The only thing crypto-traders are punting on is some anarchist conviction that 'we've got all wrong'. So just buy gold? Been there... when TPTB want something, they take it by decree.
533
pcw
16/02/2021 19:34:32 1 0
bbc
It’s Funny? I’ve just made 20% on my investment. Yep at this rate I’m currently laughing. What did your bank last pay you back in interest?
Yep it can go down but it’s a game; play if you can afford to loose what you invest same with any shares!
823
16/02/2021 22:50:00 0 0
bbc
Both will be dead in the water in 20 years with a bit of luck after a global rise of higher thinking which takes us away from this financial myth that divides us all right now.
984
OwO
17/02/2021 09:40:18 0 1
bbc
Crypto won't be replacing anything. Once the Tether scam is fully unveiled (no way in hell are they backed anything like they've claimed), the price of Bitcoin will plummet.

It's a hype machine, pure and simple. The big investors buy, trumpet around that they have, number goes up because it's all fanatics and that investor has more wealth. Bitcoin is not a currency, it's a ponzi scheme.
16
16/02/2021 16:38:38 1 2
bbc
footballers wages ,decent plumbers quotations and crypto values , a gucchi silk scarf legal madness
17
16/02/2021 16:38:40 3 5
bbc
The UK should issue it's own virtual currency that doesn't require as much 'mining' energy. Be good to have something that is a little more regulated but more 21st century than central bank printed money.
38
16/02/2021 16:52:00 0 2
bbc
If they could they would
58
16/02/2021 16:58:44 0 1
bbc
There are lots of other cryptocurrencies other than bitcoin, most if not all of them more energy efficient than bitcoin. Bitcoin was the first crypto, every one since has improved the technology.
733
16/02/2021 21:18:11 0 0
bbc
Central banks are already looking at the possibility of their own crypto currencies- I suspect that the likes of Bitcoin et al will become to the central banks crypto what gold has become to fiat..an undeerlying safe haven but controlled and manipulated downwards inn price by central bank crypto..like it or not governments (and central banks) hold the political and legislative power
893
17/02/2021 00:32:57 0 0
bbc
97% of all transactions are already virtual
18
16/02/2021 16:39:02 3 6
bbc
The gains this year were not due to Musk. Bitcoin went from $28k to $39K since the year started - then Musk made his announcement and it went from 39 to 42 and back to 39 and THEN it's topped 50K The growth in Bitcoin this year is down to institutional buying - you know, people who do their research and risk analysis BEFORE they buy big.
33
Bob
16/02/2021 16:51:02 4 3
bbc
You've compared a period of over a month to just one day and then again to a period covering multiple days, which is in the aftermath of said event.

The fact, whether you like it or not, is that Tesla's announcement was responsible for the single biggest rise in Bitcoin's value.
44
16/02/2021 16:50:34 1 3
bbc
The only people who still say it's a scam and a bubble are 1) Idiots who haven't done their research, or 2) People who missed out and who are salty about it. // For years the Banks called it a scam, yet the moment the price of a Bitcoin is beyond the reach of your Average Joe they suddenly tell the truth and now it's a form of currency and a hedge against the dollar. Coincidence? Yeah right
69
16/02/2021 17:01:44 0 1
bbc
How on earth can you do "a risk analysis" on a product that's only been around a few years, and has zero intrinsic value, whatsoever! Its only value is in the holder's mind.....and my guess is that they're all bonkers, or maybe just plain greedy
14
16/02/2021 16:37:26 3 2
bbc
World Governments need to make minds up?
Seems some financial institutions are thinking of embracing digital .. what's the score
19
16/02/2021 16:39:23 1 5
bbc
Crypto
20
16/02/2021 16:40:12 7 6
bbc
CRAAAASH.....
15
16/02/2021 16:37:37 72 41
bbc
The comments already are funny. People talk about how crypto is "worthless" while completely oblivious to how fiat works.
The £20 note in your pocket is only worth what we decide it's worth. It's not backed by anything other than faith. It's exactly the same as crypto, except less secure since fiat can be counterfeited.

Crypto will replace fiat within 20 years.
21
16/02/2021 16:40:43 12 5
bbc
whats fiat ,excuse my lack of crypto knowledge
24
16/02/2021 16:43:27 16 1
bbc
Fiat is the currency we already have... GBP, USD, any physical currency not backed by gold or any other asset.
54
16/02/2021 16:57:27 25 4
bbc
Didn't they merge with Chrysler?
77
16/02/2021 17:04:53 10 10
bbc
Fiat is a brand of car!! (and they're useless too)
625
16/02/2021 19:56:18 1 0
bbc
A fiat currency is one that is no longer backed by an asset. Now that Sterling is no longer backed by the gold standard it is in effect a fiat currency. I’m trying to think of a currency that is backed by an asset and I can’t!
986
17/02/2021 09:40:56 0 0
bbc
They make crap Cars
3
16/02/2021 16:24:11 12 10
bbc
A coin worth $50 000? How's Elon Musk going to give you your change, or aren't you expecting any?
22
16/02/2021 16:41:14 26 5
bbc
Each bitcoin can be divided into 100 million units (called sats), so change of even a fraction of a penny is possible. You don't have to buy/sell a whole bitcoin.
117
16/02/2021 17:15:50 1 1
bbc
What’s the transaction cost of Bitcoin at the moment ?
23
16/02/2021 16:43:24 3 4
bbc
Its like white knuckle high stakes gambling and i just love Crypto, lost 5k the other week lol
21
16/02/2021 16:40:43 12 5
bbc
whats fiat ,excuse my lack of crypto knowledge
24
16/02/2021 16:43:27 16 1
bbc
Fiat is the currency we already have... GBP, USD, any physical currency not backed by gold or any other asset.
15
16/02/2021 16:37:37 72 41
bbc
The comments already are funny. People talk about how crypto is "worthless" while completely oblivious to how fiat works.
The £20 note in your pocket is only worth what we decide it's worth. It's not backed by anything other than faith. It's exactly the same as crypto, except less secure since fiat can be counterfeited.

Crypto will replace fiat within 20 years.
25
16/02/2021 16:44:02 18 5
bbc
Exactly. Fiat is 97% digital anyway and backed only by (ever decreasing) trust. If anything Bitcoin is more attractive precisely because it’s not controlled by government and can’t be printed till it’s worthless - it’s also cheaper to transfer with no fx/ card fees..
116
16/02/2021 17:15:10 10 22
bbc
Bitcoin is controlled by the miners. Which is even worse as most are Chinese.
339
16/02/2021 18:31:56 0 0
bbc
although alternative cryptos can be produced increasing supply of competing crypto's with much the sae impact as printing currency..Bitcoin may end up like any any other currency competing against against other cryptos as with existing currency's
26
16/02/2021 16:45:19 2 3
bbc
With my few hundered pounds worth of Bitcoin I can probably cash in enough to get a nice curry on the profit. Unfortunately we don't all have a Billion dollars in the back pocket. Cashing that in now will pobably pay for Musk's rocket explosion last month.
28
16/02/2021 16:48:13 2 4
bbc
It'll be $500k per coin within 5 years. Just hold your "few hundred pounds" and wait until it's a few grand.
27
16/02/2021 16:46:50 6 9
bbc
I'd rather hold a volatile asset that appreciates in value (Bitcoin) than a non-volatile asset that depreciates in value (£)
29
16/02/2021 16:49:16 3 3
bbc
Imagine buying a Tesla with a bitcoin. That's $50k now, and $500k in five years maybe, while the car you bought is worth ten times the square root of sod all.
37
16/02/2021 16:51:45 0 1
bbc
I'd rather have an asset I can buy something with.
61
16/02/2021 16:59:35 0 2
bbc
Then buy gold...something tangible.
81
16/02/2021 17:05:13 0 1
bbc
Me too!
89
16/02/2021 17:07:10 1 1
bbc
volatile assets also depreciate. £ 'safer' than bitcoin, but gold, land and shares in real companies only way to be reasonably sure of retaining value long term.
26
16/02/2021 16:45:19 2 3
bbc
With my few hundered pounds worth of Bitcoin I can probably cash in enough to get a nice curry on the profit. Unfortunately we don't all have a Billion dollars in the back pocket. Cashing that in now will pobably pay for Musk's rocket explosion last month.
28
16/02/2021 16:48:13 2 4
bbc
It'll be $500k per coin within 5 years. Just hold your "few hundred pounds" and wait until it's a few grand.
213
16/02/2021 17:52:02 0 0
bbc
This is the way
27
16/02/2021 16:46:50 6 9
bbc
I'd rather hold a volatile asset that appreciates in value (Bitcoin) than a non-volatile asset that depreciates in value (£)
29
16/02/2021 16:49:16 3 3
bbc
Imagine buying a Tesla with a bitcoin. That's $50k now, and $500k in five years maybe, while the car you bought is worth ten times the square root of sod all.
35
16/02/2021 16:51:29 1 2
bbc
If you restocked after each purchase like I did it's not a problem
30
16/02/2021 16:50:16 1 1
bbc
at such a high values against present trad currency does a bitcoin split into segments for exchanging or spending ?
45
16/02/2021 16:53:23 3 1
bbc
Yes. They are broken into "Satoshis" (named after the alleged inventor), there are 100m sats in a btc.
68
16/02/2021 17:01:40 0 1
bbc
Yes, 1/1000 of a Bitcoin is known as a Satoshi, however it can be split even smaller.
78
16/02/2021 17:04:56 0 1
bbc
Yes, each bitcoin can be split into 100 million units (called sats).
859
16/02/2021 23:44:49 0 0
bbc
Bitcoin. Bits Millibits Satoshis each Bitcoin is divisible by 100,000 000
31
16/02/2021 16:50:52 0 2
bbc
Bitcoin ftw. ??
32
16/02/2021 16:46:40 50 24
bbc
Usual amount of FUD from the uninformed: Tulips, South Sea bubble, Ponzi Scheme, Money laundering etc etc with the latest being Energy consumption. Governments can print money at will and are destroying our currency one pound at a time. The national debt stands at around £60,000 per tax payer lets face it the only way out of that is via inflation. Digitally scare Bitcoin is the prefect hedge.
52
16/02/2021 16:56:00 10 9
bbc
Ha ha!
55
16/02/2021 16:57:33 10 4
bbc
totally agree, governments steal from their subjects via currency debasement,.
72
16/02/2021 16:54:20 7 7
bbc
Why waste your time trying to be sarcastic? Bitcoin has been around for years. Now Banks and Institutions are buying yet the people still call it a scam. Not exactly a display of intelligence, is it? It doesn't register to the brain-dead that the banks called Bitcoin a scam for years until the price of one became beyond the reach of your Average Joe. Now they are free to tell the truth.
92
16/02/2021 17:07:49 2 3
bbc
Spot on.
227
16/02/2021 17:55:47 1 3
bbc
The UK government should buy one Bitcoin per person and keep it to service that debt. :-)
514
16/02/2021 19:27:52 1 1
bbc
You understand
587
16/02/2021 19:58:26 3 3
bbc
A scarcity of supply means Bitcoin can be the lifeboat for those who jump on board now
922
17/02/2021 08:10:25 2 0
bbc
Being scarce alone doesn’t give something value. Also, it’s only backed by faith like any fiat currency so it doesn’t have value to begin with
985
OwO
17/02/2021 09:40:49 0 0
bbc
It's all well and good making claims, but those things you rubbish are all absolutely true.
17/02/2021 10:37:56 0 0
bbc
Sorry are you saying Bitcoin doesn't need obscene levels of energy to mine? At last count it produces 36.95 megatons of CO2 annually. This is not FUD
18
16/02/2021 16:39:02 3 6
bbc
The gains this year were not due to Musk. Bitcoin went from $28k to $39K since the year started - then Musk made his announcement and it went from 39 to 42 and back to 39 and THEN it's topped 50K The growth in Bitcoin this year is down to institutional buying - you know, people who do their research and risk analysis BEFORE they buy big.
33
Bob
16/02/2021 16:51:02 4 3
bbc
You've compared a period of over a month to just one day and then again to a period covering multiple days, which is in the aftermath of said event.

The fact, whether you like it or not, is that Tesla's announcement was responsible for the single biggest rise in Bitcoin's value.
101
16/02/2021 17:10:01 1 1
bbc
Nonsense. Tesla's announcement caused a spike of 10% in half an hour, then over the course of a week the market slowly ebbed back 10%, and it has since taken off again. Tesla caused a brief surge in demand, that is all.
114
16/02/2021 17:14:47 0 1
bbc
When you bought Bitcoin at £5k who cares who is responsible for the rise, makes no odds, whats your point? Elon added ever increasing legitimacy to an already appreciating asset.
6
16/02/2021 16:27:04 82 74
bbc
The real value of a Bitcoin is actually less than 1p, because a 1p coin has intrinsic value in the metal it is made of. Bitcoin has no intrinsic value and no purpose other than money-laundering. Given that the electricity to "mine" new coins is greater than the consumption of Argentina (c.f. news last week) it is high time this was closed down once and for all.
34
16/02/2021 16:51:04 65 17
bbc
Fun fact - gold is much more energy intensive to mine than bitcoin.
143
16/02/2021 17:26:19 10 5
bbc
Except gold actually has some physical uses. Bitcoin does not.
187
16/02/2021 17:42:19 3 1
bbc
But it is real, and can be held in the hand. It also has real-world uses, as in electronics and jewellery.
523
AJW
16/02/2021 19:31:08 0 0
bbc
But gold has some unique practical uses other than storing it back in the ground
927
17/02/2021 08:16:29 0 0
bbc
Ye, because it’s gold!!!!!
29
16/02/2021 16:49:16 3 3
bbc
Imagine buying a Tesla with a bitcoin. That's $50k now, and $500k in five years maybe, while the car you bought is worth ten times the square root of sod all.
35
16/02/2021 16:51:29 1 2
bbc
If you restocked after each purchase like I did it's not a problem
36
16/02/2021 16:51:37 4 5
bbc
e-cigarettes, i-Tunes, digital gold.... it's so confusing for boomers, these days. How much is it in old money..?
63
16/02/2021 17:00:18 2 3
bbc
It's iTunes....
73
16/02/2021 17:03:34 2 2
bbc
It is quite likely that quite a few of these boomers you claim are confused were playing with computers before all these Millenials were born... :-)
27
16/02/2021 16:46:50 6 9
bbc
I'd rather hold a volatile asset that appreciates in value (Bitcoin) than a non-volatile asset that depreciates in value (£)
37
16/02/2021 16:51:45 0 1
bbc
I'd rather have an asset I can buy something with.
53
16/02/2021 16:56:27 0 1
bbc
You can buy dollars with a bitcoin.
17
16/02/2021 16:38:40 3 5
bbc
The UK should issue it's own virtual currency that doesn't require as much 'mining' energy. Be good to have something that is a little more regulated but more 21st century than central bank printed money.
38
16/02/2021 16:52:00 0 2
bbc
If they could they would
167
16/02/2021 17:29:02 1 0
bbc
They can and they will...
39
16/02/2021 16:52:08 33 19
bbc
bit coins sounds like a way that criminal world can move wealth
48
16/02/2021 16:54:38 33 9
bbc
Sure. But let's not pretend you can't launder cash.
60
16/02/2021 16:59:17 10 2
bbc
Is the US dollar used by criminals? What about the Pound? And the Euro? I think it's time you engaged in some critical thinking....
87
16/02/2021 17:06:37 9 2
bbc
Pretty sure the US dollar is the Drug Cartels currency of choice, not bitcoin that can be traced on a public blockchain, do some research!!
217
16/02/2021 17:52:32 3 0
bbc
That'll be cash.
239
16/02/2021 18:02:48 1 0
bbc
You need to be worried about how your pension is being invested by the hedge fund managers and the repeat of 2008 than how criminals can move it. Remember no got held accountable paid for 2008 and not much has changed
399
16/02/2021 18:46:22 4 0
bbc
So why do we hear so much about bank account fraud? That's fiat being moved around, and that never seems to be able to be recovered - it's just gone and the banks don't seem to be able to do anything about it.

Bitcoin is a public ledger. Every single transfer and transaction is a matter of public record and can be traced.
617
16/02/2021 20:07:48 1 0
bbc
0.34% of Bitcoin is in criminal hands Guess what they bought it with dollars & pounds That’s how they moved the wealth
737
16/02/2021 21:16:35 1 0
bbc
More criminal money has been moved using regular money than has ever been with crypto. Still is.

The rats in Pablo Escobar's cellar ate more money than you will ever make.
876
16/02/2021 23:12:18 0 0
bbc
All transactions on the Bitcoin network are publicly available (unlike cash), its actually a very bad way to move wealth if your a criminal.
14
16/02/2021 16:37:26 3 2
bbc
World Governments need to make minds up?
Seems some financial institutions are thinking of embracing digital .. what's the score
40
Bob
16/02/2021 16:52:34 2 1
bbc
The world's currencies are already digital. Crypto being digital is not a benefit over fiat currencies - it is a myth.
182
16/02/2021 17:40:58 0 1
bbc
Should I invest Bob that's the question?
13
16/02/2021 16:37:18 2 4
bbc
Finally I can buy that house I always wanted with my 10 Bitcoins.

I'm sure I won't laughed out of this transaction like last time. Times are different now...Oh Yeah! The Good Times are here.
41
16/02/2021 16:52:39 0 2
bbc
Same. This is gentleman!
15
16/02/2021 16:37:37 72 41
bbc
The comments already are funny. People talk about how crypto is "worthless" while completely oblivious to how fiat works.
The £20 note in your pocket is only worth what we decide it's worth. It's not backed by anything other than faith. It's exactly the same as crypto, except less secure since fiat can be counterfeited.

Crypto will replace fiat within 20 years.
42
16/02/2021 16:52:46 12 11
bbc
The £20 in your pocket can be exchanged for other goods in any shop in the country. The bitcoin on your hard drive can be, oh.
62
16/02/2021 16:59:40 13 9
bbc
I can trade bitcoin for GBP and then buy good from a shop. And give it a year or two and you'll soon start seeing vendors accepting crypto. It's still early days, the technology is moving.
151
16/02/2021 17:28:38 8 1
bbc
This is an outdated argument. I can spend my bitcoin on a Visa card linked directly to my bitcoin wallet... so anywhere that takes that is good for me. Or I can sell at an exchange and have the cash in my bank within 10 minutes.
707
16/02/2021 20:55:11 1 0
bbc
You can spend bitcoin anywhere that accepts Visa, contactless, paypal.

Perhaps you shouldn't use the BBC to learn about these things...
709
16/02/2021 20:58:08 1 0
bbc
Cryptocurrency trader Michael Komaransky sells his $6million seven-bed Miami mansion for 455 Bitcoin.

If he held onto those they are now worth 455 * 34973.94 = £15,913,142.70
9
16/02/2021 16:35:00 28 25
bbc
The biggest con job in history.
43
16/02/2021 16:52:59 11 5
bbc
LoL
18
16/02/2021 16:39:02 3 6
bbc
The gains this year were not due to Musk. Bitcoin went from $28k to $39K since the year started - then Musk made his announcement and it went from 39 to 42 and back to 39 and THEN it's topped 50K The growth in Bitcoin this year is down to institutional buying - you know, people who do their research and risk analysis BEFORE they buy big.
44
16/02/2021 16:50:34 1 3
bbc
The only people who still say it's a scam and a bubble are 1) Idiots who haven't done their research, or 2) People who missed out and who are salty about it. // For years the Banks called it a scam, yet the moment the price of a Bitcoin is beyond the reach of your Average Joe they suddenly tell the truth and now it's a form of currency and a hedge against the dollar. Coincidence? Yeah right
30
16/02/2021 16:50:16 1 1
bbc
at such a high values against present trad currency does a bitcoin split into segments for exchanging or spending ?
45
16/02/2021 16:53:23 3 1
bbc
Yes. They are broken into "Satoshis" (named after the alleged inventor), there are 100m sats in a btc.
103
16/02/2021 17:10:36 0 1
bbc
Stack Sats and chill.
2
MVP
16/02/2021 16:23:50 34 20
bbc
Bit like the South Sea Bubble or the 1637 Amsterdam Tulip Bulb crash
46
16/02/2021 16:53:34 13 14
bbc
Not all like them.
124
16/02/2021 17:19:34 4 4
bbc
True. At least a tulip bulb actually grows into something tangible.
1
16/02/2021 16:21:21 19 16
bbc
BitCon
47
16/02/2021 16:53:51 11 6
bbc
Hahaha good one! No one's ever said that before!
39
16/02/2021 16:52:08 33 19
bbc
bit coins sounds like a way that criminal world can move wealth
48
16/02/2021 16:54:38 33 9
bbc
Sure. But let's not pretend you can't launder cash.
8
16/02/2021 16:30:00 54 36
bbc
Driven by gambling and greed. This just one massive bubble waiting to burst.
49
16/02/2021 16:51:54 43 11
bbc
A bubble that bursts every 4 years before re-inflating to higher highs.
215
16/02/2021 17:52:38 3 9
bbc
Yep, like the South Sea bubble (only exists in the history books hundreds of years later, never mind 4 years) or the tulip bulb bubble (you can pick them up in bags of a dozen in your suermarket for the price of a small bag of spuds)
So much for 4 year reinflating to higher highs.
Hundreds of years later they're still flat busted, effectively valueless
Have another go.
10
16/02/2021 16:35:38 8 5
bbc
When you have multiple Crypto currencies being created on a whim its not a hedge against inflation...
50
16/02/2021 16:52:57 3 2
bbc
It's down to the network effect.
51
16/02/2021 16:55:57 29 22
bbc
The fact it has risen over 70% on the back of Tesla announcing they had bought £1.5bn worth tells you all you need to know about the volatility of Bitcoin.
66
16/02/2021 17:00:54 32 12
bbc
It didn't rise 70% because of Tesla. It rose 10%, then dropped 10%.
164
16/02/2021 17:32:05 5 2
bbc
Not true

It's up about $8k since Musk invested which is 20-25% and not all of that was driven by Tesla
278
16/02/2021 18:16:31 2 0
bbc
Your comment tells us all we need to know. People just see what they want and make up they're own facts.
313
16/02/2021 17:59:41 1 1
bbc
If Elon Musk is going to accept Bitcoin as payment for Tesla cars, why does he need to buy Bitcoin? He's going to be in the business of selling it.
630
16/02/2021 20:12:42 0 0
bbc
Volatility is vitality It’s the fiat currencies crashing that allows Bitcoin to surge Its your lifeboat from fiat get on board
32
16/02/2021 16:46:40 50 24
bbc
Usual amount of FUD from the uninformed: Tulips, South Sea bubble, Ponzi Scheme, Money laundering etc etc with the latest being Energy consumption. Governments can print money at will and are destroying our currency one pound at a time. The national debt stands at around £60,000 per tax payer lets face it the only way out of that is via inflation. Digitally scare Bitcoin is the prefect hedge.
52
16/02/2021 16:56:00 10 9
bbc
Ha ha!
59
16/02/2021 16:59:08 0 2
bbc
Ha Ha Indeed
37
16/02/2021 16:51:45 0 1
bbc
I'd rather have an asset I can buy something with.
53
16/02/2021 16:56:27 0 1
bbc
You can buy dollars with a bitcoin.
21
16/02/2021 16:40:43 12 5
bbc
whats fiat ,excuse my lack of crypto knowledge
54
16/02/2021 16:57:27 25 4
bbc
Didn't they merge with Chrysler?
32
16/02/2021 16:46:40 50 24
bbc
Usual amount of FUD from the uninformed: Tulips, South Sea bubble, Ponzi Scheme, Money laundering etc etc with the latest being Energy consumption. Governments can print money at will and are destroying our currency one pound at a time. The national debt stands at around £60,000 per tax payer lets face it the only way out of that is via inflation. Digitally scare Bitcoin is the prefect hedge.
55
16/02/2021 16:57:33 10 4
bbc
totally agree, governments steal from their subjects via currency debasement,.
56
16/02/2021 16:58:10 39 21
bbc
I suggest you sell the Emperors New Clothes while you still can.
122
16/02/2021 17:18:35 16 4
bbc
You're right for every winner there will be a loser, fact.
235
16/02/2021 17:59:10 2 2
bbc
I've heard that now is the time to get into South Sea Company shares. Hurry.
406
16/02/2021 18:49:24 2 2
bbc
Remember 2008? That really was Emperors New Clothes - "bad debts" being bundled together and repackaged and labelled "good debts".

Crypto is completely transparent. No government, corporation or individual controls it, every participant has exactly the same information, and every transaction is a matter of public record in the ledger.

I know which I would (and have) picked to invest in...
575
16/02/2021 19:51:47 0 0
bbc
Fiat ?
6
16/02/2021 16:27:04 82 74
bbc
The real value of a Bitcoin is actually less than 1p, because a 1p coin has intrinsic value in the metal it is made of. Bitcoin has no intrinsic value and no purpose other than money-laundering. Given that the electricity to "mine" new coins is greater than the consumption of Argentina (c.f. news last week) it is high time this was closed down once and for all.
57
16/02/2021 16:58:18 14 5
bbc
A £1m bank deposit or £20 note has no intrinsic value either. Bitcoin now has a role as insurance against collapse of the current financial system amongst other things and cannot be closed down, only regulated to some degree at the exchanges.
360
16/02/2021 18:37:40 1 1
bbc
Bitcoin is the the lifeboat from all this
970
17/02/2021 09:29:22 0 0
bbc
A £20 note has an intrinsic value in the UK if you pay tax, as ONLY Sterling is accepted by HMRC. Indeed, according to MMT this is how a fiat currency issued by a national bank has value.
17
16/02/2021 16:38:40 3 5
bbc
The UK should issue it's own virtual currency that doesn't require as much 'mining' energy. Be good to have something that is a little more regulated but more 21st century than central bank printed money.
58
16/02/2021 16:58:44 0 1
bbc
There are lots of other cryptocurrencies other than bitcoin, most if not all of them more energy efficient than bitcoin. Bitcoin was the first crypto, every one since has improved the technology.
52
16/02/2021 16:56:00 10 9
bbc
Ha ha!
59
16/02/2021 16:59:08 0 2
bbc
Ha Ha Indeed
39
16/02/2021 16:52:08 33 19
bbc
bit coins sounds like a way that criminal world can move wealth
60
16/02/2021 16:59:17 10 2
bbc
Is the US dollar used by criminals? What about the Pound? And the Euro? I think it's time you engaged in some critical thinking....
436
16/02/2021 18:58:05 0 0
bbc
albeit that cryptos make it easier
27
16/02/2021 16:46:50 6 9
bbc
I'd rather hold a volatile asset that appreciates in value (Bitcoin) than a non-volatile asset that depreciates in value (£)
61
16/02/2021 16:59:35 0 2
bbc
Then buy gold...something tangible.
42
16/02/2021 16:52:46 12 11
bbc
The £20 in your pocket can be exchanged for other goods in any shop in the country. The bitcoin on your hard drive can be, oh.
62
16/02/2021 16:59:40 13 9
bbc
I can trade bitcoin for GBP and then buy good from a shop. And give it a year or two and you'll soon start seeing vendors accepting crypto. It's still early days, the technology is moving.
134
16/02/2021 17:23:31 11 2
bbc
And yet, no one in their right mind would hold their rent money in bitcoin. The huge benefit of 'fiat' money is that it's largely going to be worth the same in any given month, whilst bitcoin... well, you know the rest.
311
16/02/2021 18:26:25 0 0
bbc
Well said
710
16/02/2021 20:59:02 0 0
bbc
You can already buy houses, boats, cars, planes with it. You can spend it anywhere you can spend Visa or Paypal. No need to convert it.
36
16/02/2021 16:51:37 4 5
bbc
e-cigarettes, i-Tunes, digital gold.... it's so confusing for boomers, these days. How much is it in old money..?
63
16/02/2021 17:00:18 2 3
bbc
It's iTunes....
75
16/02/2021 17:04:28 4 2
bbc
see what I mean? I can't even get that right!
326
16/02/2021 18:29:03 0 0
bbc
Funniest comment on here. Cheers for making me laugh.
BBC, I fail to see why the leader of Dubai’s daughter takes precedence over all current British news. Don’t we have enough of our own issues at the moment? Removed
6
16/02/2021 16:27:04 82 74
bbc
The real value of a Bitcoin is actually less than 1p, because a 1p coin has intrinsic value in the metal it is made of. Bitcoin has no intrinsic value and no purpose other than money-laundering. Given that the electricity to "mine" new coins is greater than the consumption of Argentina (c.f. news last week) it is high time this was closed down once and for all.
65
Bob
16/02/2021 17:00:47 3 8
bbc
My word. A bitcoin article that actually has an accurate comment as the top comment.
51
16/02/2021 16:55:57 29 22
bbc
The fact it has risen over 70% on the back of Tesla announcing they had bought £1.5bn worth tells you all you need to know about the volatility of Bitcoin.
66
16/02/2021 17:00:54 32 12
bbc
It didn't rise 70% because of Tesla. It rose 10%, then dropped 10%.
67
16/02/2021 17:01:10 4 3
bbc
as usual armchair experts commenting on something they have no idea about. Like all investments you need to keep your eyes on it. Crypto currencies are more volatile than most. Keep using you piggy bank but your money will deflate with inflation !
663
16/02/2021 20:32:49 0 0
bbc
Volatility is vitality
30
16/02/2021 16:50:16 1 1
bbc
at such a high values against present trad currency does a bitcoin split into segments for exchanging or spending ?
68
16/02/2021 17:01:40 0 1
bbc
Yes, 1/1000 of a Bitcoin is known as a Satoshi, however it can be split even smaller.
93
16/02/2021 17:08:12 0 1
bbc
Try 1/1000000000 of a bitcoin.
207
16/02/2021 17:51:21 0 0
bbc
1 Satoshi - one hundred millionth of a single bitcoin (0.00000001 BTC), not 1/1000
18
16/02/2021 16:39:02 3 6
bbc
The gains this year were not due to Musk. Bitcoin went from $28k to $39K since the year started - then Musk made his announcement and it went from 39 to 42 and back to 39 and THEN it's topped 50K The growth in Bitcoin this year is down to institutional buying - you know, people who do their research and risk analysis BEFORE they buy big.
69
16/02/2021 17:01:44 0 1
bbc
How on earth can you do "a risk analysis" on a product that's only been around a few years, and has zero intrinsic value, whatsoever! Its only value is in the holder's mind.....and my guess is that they're all bonkers, or maybe just plain greedy
126
16/02/2021 17:20:57 0 1
bbc
As Bob Marley once said 'Please don't let them fool ya, oh no' You lap up that garbage about intrinsic and extrinsic value like mothers milk. Do some research, its value is created by the most powerful computer network in existence, its scarcity, divisibility and portability.
70
16/02/2021 17:02:02 40 14
bbc
An allocation of Bitcoin, Gold & Silver is a great hedge for what's coming.
80
16/02/2021 17:05:02 11 7
bbc
Agreed.
453
16/02/2021 19:05:22 2 3
bbc
Totally agree. Just a damn shame more people can't see -when you try and tell them and they laugh at you.
645
16/02/2021 20:19:29 0 2
bbc
Somebody with a brain
921
17/02/2021 08:09:05 1 1
bbc
There’s no similarity between Bitcoin and gold. There are 8,000 crypto’s with identical properties to Bitcoin..
12
16/02/2021 16:36:58 87 24
bbc
No currency has intrinsic value, it's all based on confidence, liquidity and means of exchange. Bitcoin has the advantage, unlike central banks, of not being influenced by politicians who will always devalue currency for short term gains (putting the printing presses on / Quantitive Easing).
71
Bob
16/02/2021 17:02:08 30 41
bbc
All physical items have intrinsic value. Traditional currencies have physical versions, even if most of it is virtual. Cryptos do not, and that's the key difference.

That doesn't stop either being seen as items of worth, but you can't use the intrinsic value debate here.
150
16/02/2021 17:25:04 11 3
bbc
So what's the intrinsic value of the £20 note in my wallet?

£20?

lolol
857
Leo
16/02/2021 23:42:16 0 0
bbc
The majority of currency in circulation today doesn't have anything physical (like gold) backing it, it's value is predicated on the amount of "work" done in the society in which the currency is circulated. I this regard modern "hard" currencies have about as much backing them as crypto-currencies do, that is their backing is notional, not actual.
17/02/2021 10:37:56 0 0
bbc
Most fiat is digital now... You know this.
17/02/2021 17:40:38 0 0
bbc
What intrinsic value does a piece of paper with numbers on it have, Bob?
17/02/2021 20:51:49 0 0
bbc
What on earth is the "intrinsic value debate" and how is it relevant?
32
16/02/2021 16:46:40 50 24
bbc
Usual amount of FUD from the uninformed: Tulips, South Sea bubble, Ponzi Scheme, Money laundering etc etc with the latest being Energy consumption. Governments can print money at will and are destroying our currency one pound at a time. The national debt stands at around £60,000 per tax payer lets face it the only way out of that is via inflation. Digitally scare Bitcoin is the prefect hedge.
72
16/02/2021 16:54:20 7 7
bbc
Why waste your time trying to be sarcastic? Bitcoin has been around for years. Now Banks and Institutions are buying yet the people still call it a scam. Not exactly a display of intelligence, is it? It doesn't register to the brain-dead that the banks called Bitcoin a scam for years until the price of one became beyond the reach of your Average Joe. Now they are free to tell the truth.
91
16/02/2021 17:07:40 5 4
bbc
Average Joe can still buy into this market as each Bitcoin is divisible by 100,000,000 . The on ramps are getting easier such that you can Pound cost average into the market as £5 a day for example.
96
16/02/2021 17:09:42 0 2
bbc
Think you are replying to the wrong person, JBFC2 is clearly an advocate
989
OwO
17/02/2021 09:42:04 0 1
bbc
Which actual banks are buying it?

The only institutions investing are ones that have never made a consistent profit (Tesla, Twitter, Microstrategy), whose owners all seem to have private investments.

They'll get slapped down soon enough by the SEC, but don't pretend there's any actual adoption going on.
36
16/02/2021 16:51:37 4 5
bbc
e-cigarettes, i-Tunes, digital gold.... it's so confusing for boomers, these days. How much is it in old money..?
73
16/02/2021 17:03:34 2 2
bbc
It is quite likely that quite a few of these boomers you claim are confused were playing with computers before all these Millenials were born... :-)
119
16/02/2021 17:16:18 0 3
bbc
Millennials are now coming up to 40 years old
15
16/02/2021 16:37:37 72 41
bbc
The comments already are funny. People talk about how crypto is "worthless" while completely oblivious to how fiat works.
The £20 note in your pocket is only worth what we decide it's worth. It's not backed by anything other than faith. It's exactly the same as crypto, except less secure since fiat can be counterfeited.

Crypto will replace fiat within 20 years.
74
16/02/2021 17:03:43 4 7
bbc
20 years is a long time
109
16/02/2021 17:13:16 11 4
bbc
Yes 20 years is a long time, the change is beginning now and will perhaps take that long to make fiat redundant. It depends how much our current currencies inflate. Hyperinflation will make it happen much sooner. Fun fact - bitcoin is currently the de facto national currency of Venezuela for this very reason.
63
16/02/2021 17:00:18 2 3
bbc
It's iTunes....
75
16/02/2021 17:04:28 4 2
bbc
see what I mean? I can't even get that right!
76
16/02/2021 17:04:31 5 7
bbc
Without legal assets to buy, proper regulation (with appropriate taxation) its a criminal currency and its marketing a giant ponzi scheme..

Regulate it properly or shut it down!
82
16/02/2021 17:05:55 4 2
bbc
Fun fact - you can't shut it down.
112
16/02/2021 17:07:49 2 2
bbc
IQ=7
21
16/02/2021 16:40:43 12 5
bbc
whats fiat ,excuse my lack of crypto knowledge
77
16/02/2021 17:04:53 10 10
bbc
Fiat is a brand of car!! (and they're useless too)
30
16/02/2021 16:50:16 1 1
bbc
at such a high values against present trad currency does a bitcoin split into segments for exchanging or spending ?
78
16/02/2021 17:04:56 0 1
bbc
Yes, each bitcoin can be split into 100 million units (called sats).
79
16/02/2021 17:04:58 2 5
bbc
Next stop £100,000. Go Bitcoin
70
16/02/2021 17:02:02 40 14
bbc
An allocation of Bitcoin, Gold & Silver is a great hedge for what's coming.
80
16/02/2021 17:05:02 11 7
bbc
Agreed.
27
16/02/2021 16:46:50 6 9
bbc
I'd rather hold a volatile asset that appreciates in value (Bitcoin) than a non-volatile asset that depreciates in value (£)
81
16/02/2021 17:05:13 0 1
bbc
Me too!
76
16/02/2021 17:04:31 5 7
bbc
Without legal assets to buy, proper regulation (with appropriate taxation) its a criminal currency and its marketing a giant ponzi scheme..

Regulate it properly or shut it down!
82
16/02/2021 17:05:55 4 2
bbc
Fun fact - you can't shut it down.
130
16/02/2021 17:22:06 0 0
bbc
Allow me to explain. In order to shut down bitcoin, you need to do one of two things.
Own 51% of it. If you actually own 51% of it, why the hell would you want it to decrease in value or disappear?
Or you could destroy every single bitcoin wallet on the planet. But whatever you do, don't leave one, because otherwise the entire network can be restored.
13
16/02/2021 16:37:18 2 4
bbc
Finally I can buy that house I always wanted with my 10 Bitcoins.

I'm sure I won't laughed out of this transaction like last time. Times are different now...Oh Yeah! The Good Times are here.
83
16/02/2021 17:05:59 0 1
bbc
Dream on, dreamer
84
16/02/2021 17:00:55 2 5
bbc
It's the future, anyone that cant see it is just miserable because they think they're too late to buy, it'll keep going higher kids
560
16/02/2021 19:46:53 0 0
bbc
agree. nobody missed anything yet
85
16/02/2021 17:01:58 102 35
bbc
If everybody's talking about it, it's too late to buy. Don't touch it with a barge pole.
136
16/02/2021 17:24:03 64 56
bbc
I hope you remember saying this in five years when it's $500k a coin.
200
16/02/2021 17:47:57 5 15
bbc
Still plenty of time to buy. Mining is limited to 21 million coins so once reached, probably this year, the price may go up faster as supply is limited. A recent forecast said value could go up x30 (3000%) between now and 2035. If you don't invest more than you can afford to lose, it could be a big winner.
261
16/02/2021 18:11:05 5 9
bbc
The anti Bitcoin propaganda machine rolls into action
469
01
16/02/2021 18:49:21 2 0
bbc
It was talked about back in 2014 when I first bought 10 of them from BitBargain. Unfortunately, I sold them all for £2k back in 2017 thinking that was the peak. Anyway, I made over £19 for doing nothing, but £400,000 now would've been nice.
559
16/02/2021 19:30:12 3 4
bbc
OK boomer.
601
Jay
16/02/2021 20:01:33 3 3
bbc
Tell that to Elon Musk and Michael Saylor that it's too late to buy.
685
16/02/2021 20:41:11 1 1
bbc
people said this when it was £100 a coin, and £1000, £10000 and so on.
928
17/02/2021 08:17:13 1 0
bbc
Ah yes, the same statement was made at 5k, 10k, 15k, 20k, 25k, 30k.

Instead of "dont touch it with a barge pole" change that to, "only touch it with the money you can afford to lose." You might end up better off, you might end up worse off.
17/02/2021 10:36:20 0 2
bbc
That's what everyone said when it hit $1,000. Some people have no vision
17/02/2021 12:56:50 2 0
bbc
Yeah, I heard that in 2013 when it hit £1k and have been hodling it since. The best thing I've done in my life is not listen to people's advice.
17/02/2021 15:57:11 0 1
bbc
Elon musk owns bitcoins he backs it so does Bill gates
86
16/02/2021 17:03:03 4 4
bbc
Bit coins, being manipulated by the fat cats, all the little lefty followers thought it was a way to get away from control, now bit coin gone corporate, but many will lose their shirts when it hits rock bottom.
129
16/02/2021 17:21:53 0 1
bbc
Fat cats and lefty followers?

What have you been drinking, and where can I get a crate, because it seems to be good stuff!

Hint - not everyone who disagrees with you is a lefty...
858
16/02/2021 23:42:40 0 0
bbc
I made a profit of 400% on my Bitcoin purchase So more for me then
39
16/02/2021 16:52:08 33 19
bbc
bit coins sounds like a way that criminal world can move wealth
87
16/02/2021 17:06:37 9 2
bbc
Pretty sure the US dollar is the Drug Cartels currency of choice, not bitcoin that can be traced on a public blockchain, do some research!!
121
16/02/2021 17:17:50 7 1
bbc
If I were a badass cartel leader, I'd be using Monero, not dollars, and not bitcoin.

I mean, obviously I'd have a fat stash of dollars, but that's for immediate liquidity, paying the goons and buying tequila and that sort of thing. But my hidden money would be a nice private crypto that will appreciate in value.
11
16/02/2021 16:36:21 53 7
bbc
This looks great!
I think I'll tranfer all the funds and shares in my pension pot into BitCoin.
What can possibly go wrong?
88
16/02/2021 17:06:50 11 6
bbc
You made me smile
27
16/02/2021 16:46:50 6 9
bbc
I'd rather hold a volatile asset that appreciates in value (Bitcoin) than a non-volatile asset that depreciates in value (£)
89
16/02/2021 17:07:10 1 1
bbc
volatile assets also depreciate. £ 'safer' than bitcoin, but gold, land and shares in real companies only way to be reasonably sure of retaining value long term.
120
16/02/2021 17:14:20 0 1
bbc
You mean like my Carilion shares?
90
RM
16/02/2021 17:07:37 2 2
bbc
warning to investors in so-called crypto assets!

The financial watchdog said investors should be "prepared to lose all their money" should their investment's value collapse.
165
16/02/2021 17:27:55 3 0
bbc
I was prepared to lose all my money...but I'm up 400percent. Just be sensible an enjoy it.
729
16/02/2021 21:14:43 0 0
bbc
I have. made 400% on my initial Bitcoin should before Christmas Just as well you don’t give me financial advice
72
16/02/2021 16:54:20 7 7
bbc
Why waste your time trying to be sarcastic? Bitcoin has been around for years. Now Banks and Institutions are buying yet the people still call it a scam. Not exactly a display of intelligence, is it? It doesn't register to the brain-dead that the banks called Bitcoin a scam for years until the price of one became beyond the reach of your Average Joe. Now they are free to tell the truth.
91
16/02/2021 17:07:40 5 4
bbc
Average Joe can still buy into this market as each Bitcoin is divisible by 100,000,000 . The on ramps are getting easier such that you can Pound cost average into the market as £5 a day for example.
32
16/02/2021 16:46:40 50 24
bbc
Usual amount of FUD from the uninformed: Tulips, South Sea bubble, Ponzi Scheme, Money laundering etc etc with the latest being Energy consumption. Governments can print money at will and are destroying our currency one pound at a time. The national debt stands at around £60,000 per tax payer lets face it the only way out of that is via inflation. Digitally scare Bitcoin is the prefect hedge.
92
16/02/2021 17:07:49 2 3
bbc
Spot on.
68
16/02/2021 17:01:40 0 1
bbc
Yes, 1/1000 of a Bitcoin is known as a Satoshi, however it can be split even smaller.
93
16/02/2021 17:08:12 0 1
bbc
Try 1/1000000000 of a bitcoin.
94
16/02/2021 17:08:37 169 16
bbc
Much as I think Bitcoin valuation is outrageous, I do laugh when I hear central bankers criticise it as the currency 'has no intrinsic value'. The last decade of unlimited money creation must have just passed them by!
172
16/02/2021 17:35:57 55 28
bbc
Like all commodities, it it worth what someone is willing to pay for it.
If everyone decided to sell their houses, jewellery, cars, at the same time, of course there would be a crash in values. BTC is no different.
Biggest issue with bitcoin, is that you can't hide it, insure it, or use it for any purpose to generate income. As such, when stolen by hackers who are clevere than you, it is GONE!
184
16/02/2021 17:37:32 2 4
bbc
#bitcoin
272
16/02/2021 18:15:14 7 4
bbc
I bet you said that about the internet
303
16/02/2021 18:24:49 3 4
bbc
Is Crypto a currency (digital fiat?)or a commodity? I suspect the former and like all currency's has no intrinsic value (hence the term "fiat"). The supply of Bit coin maybe fixed however the potential limitless supply of competing crypto's isn't and so value appreciation is far from guaranteed IMHO
310
16/02/2021 18:26:15 13 9
bbc
Hopefully they will close it down before farmers ruin the environment any more with the banks of computers and electricity usage of a country that is being used to generate more 'Bitcoin'.
And it literally has no underlying value as it's not a commodity like, say, gold, which you can actually hold. It's literally a string of numbers (which can be stolen/lost/highjacked).
Tread carefully.
907
17/02/2021 04:07:25 1 0
bbc
Patch
Interesting point and not that far off the mark all this cheap money and live now pay later will eventually come home to roost seriously for many. Unsustainable debt, which is now common in many households, will always come home to bite with devastating consequences for many. Put bluntly live beyond your means and there is always, at some point, a price to pay.
17/02/2021 11:46:09 0 0
bbc
Bank of England just prints money...thats how they will pay for covid
17/02/2021 15:56:02 0 0
bbc
good money to be made from bitcoin
17/02/2021 16:33:13 0 0
bbc
The thing that really annoys me about Bitcoin is the true cost of it. It uses up the same amount as energy as Argentina, according to recent reports.

That's unacceptable given the state of the environment. Is the energy cost and damage to the environment reflected in its value?

The last thing life on Earth needs is a currency that adds to global warming!
95
16/02/2021 17:09:25 0 2
bbc
another fool born every day..
72
16/02/2021 16:54:20 7 7
bbc
Why waste your time trying to be sarcastic? Bitcoin has been around for years. Now Banks and Institutions are buying yet the people still call it a scam. Not exactly a display of intelligence, is it? It doesn't register to the brain-dead that the banks called Bitcoin a scam for years until the price of one became beyond the reach of your Average Joe. Now they are free to tell the truth.
96
16/02/2021 17:09:42 0 2
bbc
Think you are replying to the wrong person, JBFC2 is clearly an advocate
108
16/02/2021 17:12:52 3 2
bbc
We all need a Plan B :-)
97
16/02/2021 17:09:54 2 3
bbc
This is idiocy. It is also extremely bad for the CO2 reduction energy balance of the planet Those who can least afford to lose their life savings are now all set to pay the heaviest price. While those city slickers that know how to will already have "leveraged " their potential loss?
110
16/02/2021 17:13:33 0 2
bbc
I don't see what it has to do with CO2, nor will it have any impact on life savings, unless people dabble in what they don't understand. Just because there is all this fuss about Bitcoin, it doesn't mean fiat currencies are on the way out, so just ignore it if you want.
581
16/02/2021 19:55:15 0 0
bbc
I tell you what, instead of throwing your life savings at it, why not throw an amount you can afford to lose at it? £100, £50. Then watch what happens.
854
16/02/2021 23:40:09 0 0
bbc
Best performing asset over the last 10 years Bitcoin on average profits of around 200%
6
16/02/2021 16:27:04 82 74
bbc
The real value of a Bitcoin is actually less than 1p, because a 1p coin has intrinsic value in the metal it is made of. Bitcoin has no intrinsic value and no purpose other than money-laundering. Given that the electricity to "mine" new coins is greater than the consumption of Argentina (c.f. news last week) it is high time this was closed down once and for all.
98
16/02/2021 17:09:54 3 8
bbc
Governments love Bitcoin cos it's (dopey) "value" keeps the price of gold and silver lower than what they would be. "digital gold"....so is my *rse!
170
16/02/2021 17:35:40 0 0
bbc
Let's say that's the case. Why would these governments want the values of gold and silver to be low, don't many of them hold gold as an asset?
90
RM
16/02/2021 17:07:37 2 2
bbc
warning to investors in so-called crypto assets!

The financial watchdog said investors should be "prepared to lose all their money" should their investment's value collapse.
100
16/02/2021 17:10:00 5 4
bbc
Someone will make a lot of money and a lot of people will lose some money. A sounder investment might be bargepoles.