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Crypto currencies

"the fella who invented Lirecoin..." - how can someone just 'invent' a currency? Does he fund it with his own cash?
 
Seen said:
"the fella who invented Lirecoin..." - how can someone just 'invent' a currency? Does he fund it with his own cash?
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That's what the currencies are for, come up with an idea, put out a white paper and hope people buy into it by buying your tokens (currency) , to raise a certain predefined amount.

Exactly the same as the stock market but using crypto currency because it's deregulated.
 
Search for any crypto currency (litecoin for example) and whitepaper and it'll explain what that companys plans are.
Hence the reason I was first drawn to wagerr
 
Which has also gone up by over 100% since I first posted about it and sat on the bastard fence deciding whether to buy it yet.
 
Seen said:
Also for every profit made by someone, I'm presuming the same amount is lost by others - just who is losing this money and if everyone follows the predicted moves then the money on the other end will surely dry up quickly?
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It can dry up and companies can fold unless they do something about it like usually buying up some of their own tokens and destroying them which puts more value into the ones that are left.
When this happens it usually means the company have some sort of blockchain plan to get their currency going again.
 
I sincerely wish you luck mate, but it's hurting my head just reading about it :help

I think I'll stick with "that horse looks like it's going to win/lose, back/lay it!" :p
 
Seen said:
I can't help thinking that the current media exposure will be ideal for manipulation of the markets. The more people clambering to buy will suit certain shark-like traders who will eat them alive.
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My thoughts too hence the reason I'm buying nothing until the market stabilises again because I don't know enough about it.
 
Seen said:
I sincerely wish you luck mate, but it's hurting my head just reading about it :help

I think I'll stick with "that horse looks like it's going to win/lose, back/lay it!" :p
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:thumb
 
ONEDUNME said:
Just for comparison in the morning, bitcoin currently showing as £12,135 and BC Cash £2,908
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as of now...

1.PNG
 
After all thatbollocks I did a normal bank transfer at 10 to 5 last night and it’s in Poxo or whatever it’s called
 
Just remember, guys, that I'm out. However, if you make a decent wedge, I definitely said halfies :thumb
 
First figure for bitcoin quotes in this thread was £14k on Monday. Now close to £10k. That’s some nosedive
 
Ripple is apparently the new star om the block. kmow anythin about it slick?
 
I'll get back to you later mate, we're just waiting for the Vet to turn up because we've decided it's now best to have the dog put to sleep, I'm shitting it more than the dog.
 
Fuck sorry to hear that mate. Couldnt have come at a worse time of year
 
Hope it goes okay, mate. My old mutt is still fine but it's only a matter of time, dreading the day when we have to make the decision.
 
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