Bitcoin Halving Party Thread

[ukanonymous]

I have the champagne peeps please join me.

**group huggies***

[ToraToraTora]

you need to study it more me old china.

[ToraToraTora]

@ 22:00 I was talking to nickorwan.

[NickorWan]

I think you do, TTT. You have said production rate isn't affected, when that is exactly was is affected.

[ToraToraTora]

blocks are mined but they realise halve the coins.....so 210,000 blocks are mined but they result in halve the coins of the preceding 210,000.

[NickorWan]

Which is cutting the production rate of bitcoins, and is the whole point.

[THECORBYLOON]

If a block used to produce X coins but now it produces 0.5X coins, has the rate not been reduced?

[royfromaus]

Bitcoin is like any other currency, to acquire them you need to spend some other currency or commodity. Try and buy a bitcoin, only £7k.....then you'll see what I mean.


I see you have added 'commodity'

[Cloverjo]

I go by the old phrase “ If it’s sounds too good to be true, it probably is.”

[ToraToraTora]

yes, roy, I added commodity to clarify that you need some sort of consideration to buy a bitcoin. Where as you seem to think you can "buy the price" somehow but you don't say what is being used for the purchase.

[ToraToraTora]

also roy put quotes around a sentence when you quote another poster.

[royfromaus]

I knew you said it and you knew you said...no confusion.



People have been paid in Bitcoin not bought them. True story

[ToraToraTora]

yes you can earn in Bit coin as well as buy them. My answers above are addressing this statement from you earlier: "You don't buy Bitcoins, you buy the price (or sell) " - (note the use of quotes) how do you buy the price? what does that mean?

[sherrardk]

I can’t decide if the people trying to explain the whole bitcoins thing are actually really explaining it or are just writing ridiculous nonsense to be ironic.

[naomi24]

I'm curious. Did you buy your champagne with bitcoins, ukanonymous?

[royfromaus]

TTT, you said

''How do you acquire your bitcoins without conventional money?''

I don't think (but maybe he has) ukanonymous has bought any bitcoins...hes' probably trading the price.

[ToraToraTora]

that was me talking to the OP, who appears to hate conventional money, how he manages to acquire bit coins.

[royfromaus]

We don't know if he does buy Bitcoins though.

[ToraToraTora]

well he's got the poo out for some reason!

[royfromaus]

Reading his comments on the first page I could hazard a guess at what he does buy a fair bit of.

[fiction-factory]

Bitcoins is one of those topics that the more I try to find out about it the more confused I get. All those fake ads claiming how Martin Lewis etc made millions from it may have coloured my judgement but it just seems like hype or a scam to me