imutual.co.uk

planteria wrote: ↑

Wed May 12 2021 11:32am

so you were in early. what's it worth now? and what are you going to do with it?

I'll keep it for fun.

It's worth about £1500. It was always about $0.0001 as doge as it was just a fun project. Then this year it went up to $0.10, then with all the Elon Musk thing it went up to $0.70.

I don't own any other cryptocurrency. but have been reading about it. There are lots of other good alternatives to bitcoin to invest a few pounds in. Maybe Imutual should have a cryptocurrency investment club?

There are also things called "shitcoins" (joke coins like dogecoin) which people are making money off at the moment.

I read that since Elon Musk announced he was stopping accepting Bitcoin for purchase (because of his concern for the climate and the energy these thing use to generate themselves) that the value of Bitcoin has dropped by about 10%.

For the record, I do not have any.

the main news i take from Musk's statement is that they're committed to holding the Bitcoin they have..

and yet the plan to stop accepting it as payment has caused the drop. it's amazing how much influence he has. he's playing to the audience re green energy, but it will play out favourably for Bitcoin anyway. green and, in many cases, waste energy is increasingly providing the supply of new Bitcoin.

fwiw if i had dogecoin on a nice profit i'd be exchanging it for bitcoin at the current £35k/coin.

"good alternatives to bitcoin" is a big subject - there's nothing really like it. fwiw i've looked at buying some Ethereum, but i decided to just stack a bit more Bitcoin instead. latest slice is generating 6.1%.

"Bitcoin falls further as China cracks down on crypto currencies"
https://www.bbc.co.uk/news/business-57169726

"Bitcoin plunges on fears of regulatory crackdown"
https://www.ft.com/content/c4c29bb3-c8e ... 33dc531acb

currently £28,500. a buy for me.

"Iran bans cryptocurrency mining for 4 months amid power cuts"
https://www.reuters.com/technology/iran ... 021-05-26/

Reuters are mad for it ..
they have made some real effort to re-hash old stories to spread fud re Bitcoin.

I saw the story first via the FT then searched for it elsewhere because of their paywall.

ok. the UK broadsheets will regurgitate Reuters 'news' regardless of whether it's new news or old news.

wasn't aware of Iranian action against bitcoin, but if you lived in Tehran would you hold some Bitcoin, or leave all your assets in rial with an inflation rate of 30%+ and rising?

Suspected cannabis farm turns out to be a bitcoin mine...
https://www.bbc.co.uk/news/uk-england-b ... m-57280115