Grasshopper
Senior Jockey
- Joined
- Nov 14, 2006
- Messages
- 16,012
I use bitcoin a lot.
Not as an investment / share dealing like 90+ percent do, but to buy the exact type of weed I need to get.me to sleep (rather than my prescribed tablets or growing my own).
It's still very much a black market with regards to purchasing every day things and on a basic level is why I'm not fully convinced it'll one day become the norm. Pure gamble that.
For racing though its risky. To buy bitcoin you pay a fee. To move it around from your wallet theres a fee. To convert it back to cash theres a fee. I don't see the plus point for using it that way unless you're gambling in a black market or something where you're offered better odds.
Otherwise you're just gambling that the price goes up enough at the point you withdraw v point you deposited to cover the fees so as to not affect the profit you'd get from that bet with cash?
Not as an investment / share dealing like 90+ percent do, but to buy the exact type of weed I need to get.me to sleep (rather than my prescribed tablets or growing my own).
It's still very much a black market with regards to purchasing every day things and on a basic level is why I'm not fully convinced it'll one day become the norm. Pure gamble that.
For racing though its risky. To buy bitcoin you pay a fee. To move it around from your wallet theres a fee. To convert it back to cash theres a fee. I don't see the plus point for using it that way unless you're gambling in a black market or something where you're offered better odds.
Otherwise you're just gambling that the price goes up enough at the point you withdraw v point you deposited to cover the fees so as to not affect the profit you'd get from that bet with cash?
Euronymous
Senior Jockey
Looks like it's becoming more mainstream given it's link up with Paypal in America.
Yeah more and more are allowing it but I'm still not convinced. I expect some regulations soon.
Hope I'm wrong.
Yeah I get all that and can see how it could go that way.
What tempers it for me is that I've not come across anyone (irl or on crypto forums etc) who actually uses it to purchase things that arent on the black market.
It's either buying BTC to convert back to cash at some point or darknet purchases.
We'll see though.
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Haha me too.
Where are you Slim. Stay well.
I have just read through this thread in its entirety.
What a thread...
Thread of the millenium, surely?
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2.1 million them 50 bitcoin are worth today, he sold them for a over £2500. Sick as a dog.