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sapper
23rd October 2018, 07:23 AM
Anyone got experience of this? https://initiativeq.com/knowledge/payment-network
https://initiativeq.com/timeline
Like bitcoin.

TimP
23rd October 2018, 07:58 AM
Can’t access the page, got a pictorial version of a 404 I’m afraid

Are you asking about anyone doing anything with bitcoin type ‘money’?

DerekW
23rd October 2018, 08:53 AM
actually the "404" page gives access to a lot of data if you scroll down.

wornish
23rd October 2018, 08:57 AM
Hmm. not sure about this.
They want to collect your personal data on the pretext of you reserving this imaginary currency.


Nothing is Free.

sapper
23rd October 2018, 08:59 AM
Only your name and email addy, which they can get quite easily these days.

sapper
23rd October 2018, 09:01 AM
Canít access the page, got a pictorial version of a 404 Iím afraid

Are you asking about anyone doing anything with bitcoin type Ďmoneyí?

No, just asking if anyone had experience of it.

wornish
23rd October 2018, 09:03 AM
Only your name and email addy, which they can get quite easily these days.

Thats the first step.

I repeat my first post "nothing is free"

Sign up if you think its OK, and keep us posted on developments.

Jim Ford
23rd October 2018, 09:08 AM
I've had 0.1 of a Bitcoin for a few years. IIRC I paid £10 for it. Over the last year it climbed from about £300 to £1500 and now it's down £480.

I think Bitcoin is one of the most reliable virtual currencies, but is still very volatile. Last year an 'expert' predicted that the value of my 0.1 Bitcoin would be worth £10,000 by the end of this year!

Jim

TimP
23rd October 2018, 10:20 AM
Isn’t Bitcoin dependent on ‘someone’ holding it / trading it (a broker) and for these someone’s there is no regulation, nothing, so all someone would have to do would be to act as the broker, collect all these people with their Bitcoins and then, just perhaps, do a runner, having cashed in the imaginary money with someone else. End result is you lose all your imaginary money.
I might dabble if I didn’t have anything better to do with some spare cash.

Jim Ford
23rd October 2018, 12:00 PM
Isn’t Bitcoin dependent on ‘someone’ holding it / trading it (a broker)

No, it depends on the 'blockchain', which is (as I understand it) is a distributed journal that every bitcoin owner has. All entries are synchronised across users and (somehow) crosschecked to prevent fraud. If I 'spend' a bitcoin, the transaction will be propagated across the net.

Transactions are basically anonymous and can't/difficult to trace the recipient to a real person. (If anyone want to pay me in bitcoins, here's my public address for my wallet: 1A5TauACRqErTsQ2h2d7HgYXKYHnQBGjSL !)

'The Blockchain' is the next 'Big Thing' on the internet and apparently is going to be used in all sorts of unexpected places. ISTRC that even house buying and selling is a good candidate for a blockchain.

I wish I understood it all!

Jim

TimP
23rd October 2018, 12:16 PM
I wish I understood it all!

Jim

You and me both!

I think the drive to trusting everything to the digital age and itís ******* siblings is going to bite us all very badly on the bum at some point, at which time it will be too late.

TimP
23rd October 2018, 12:20 PM
You and me both!

I think the drive to trusting everything to the digital age and itís ******* siblings is going to bite us all very badly on the bum at some point, at which time it will be too late.

Ooh! It censored that word for child out of wedlock!

TimP
24th October 2018, 08:31 AM
Strangely this appeared in my Facebonk news feed from a mate and seemed to indicate you need an invite, but as others have said it’s only email address needed at the moment, so might be worth a punt (without actually punting anything).
I toyed with the idea of building a bitcoin mining rig once but gave up on that when I saw the lengths other people had gone to to build such rigs, we’re talking specialized motherboards with multiple graphics card slots, all built into a custom frame to hold it all. Seemed a lot of expense to potentially mine just a fraction of a bitcoin.

OM USer
24th October 2018, 11:18 AM
Its all smoke and mirrors in my opinion. There is no asset backing up the value of these crypto currencies, not even sovereign debt (if you can call that an assest). With no proper functioning and regulated market you can not gurantee to sell. Just think how much people have paid into bitcoin (as one example) and how much the current value of bitcoins are. If most people have made a 1000% gain (headline figures I know) where will all the money come from if they sell? There is also the mined bitcoin which enters the system for which no money (hard cash) has been paid in. All in all I think it is a bit of a ponzi scheme. The newspapers have reports of bitcoin billionaires but there are no reports of anyone cashing that amount in. If they did the price would fall dramatically. As for the physics of mining, you pay as much for the electricity as you get out in bitcoin unless you can site your mining engines where electricity is cheaper than it is here.

Jim Ford
24th October 2018, 11:40 AM
I understand that it's not different from any other fiat currency.

The value of a bitcoin at posting this message is £4975.51, which makes my 0.1 bitcoin 'worth' £497.55. I paid £10 for it. I guess at this time I could spend it and get around £490 of 'real' value for it.

Jim

TimP
24th October 2018, 12:00 PM
I’ve seemingly signed up, giving an email address, but you’re right, it does look very much like a ponzi/ pyramid scheme. How, sensibly, can it be much else.