It could be Rotterdam or anywhere, Wiltshire or in Bath: Euro cops cuff 6 for cybersquatting, allegedly nicking €24m in Bitcoin European cops have cuffed six people for typosquatting – in this case spoofing a well known cryptocurrency exchange – and allegedly making off with €24m worth of Bitcoin tokens. The arrest is the culmination of a 14-month joint investigation between Britain's South West Regional Cyber Crime Unit and the National Crime Agency, …
Wait until it is low, like $$$$, then invest and wait:
https://bitcoincharts.com/charts/bitstampUSD#rg2920ztgSzm1g10zm2g25zv
It is like a wave, well, a tsunami, you just have to get in when it has fallen again - these cryptocurrencies fall real low, then Feacebook or some other cloudy outfit anounces some BS and they sky-rocket.
If you want to make money, place little amounts in many when they are low according to the many histographs you can find ... wait until the hypebubble expands, sell 66% when it reaches +200% (so that you have your profit, double what you invested) but don't be too greedy (times 3-4 initail deposit is good) ... try and get money out every now and then ... yes, it is a full time job, yes, when you sell, do not sell all, wait until it trebbles again to remove 66%, it will keep giving - the money you have in crypto from here-on is money you made from crypto! When it falls, leave it until it spikes again ....
DO NOT REMOVE WHEN LOW, DO NOT INVEST MONEYS YOU MIGHT NEED!
Greed will be your downfall. (Eye of the Beholder 101)
Kudos for the reference to Gresham's Law, but Bitcoin is not actually a Ponzi scheme. It's a sunk cost fallacy scheme, or perhaps a labour theory of value scheme.
The idea is that it takes so much electricity to find a Bitcoin these days that they must be valuable.
Unfortunately lots of people got poor on the thinking that gold is hard to find, therefore it was worth expending vast amounts of effort to dig a gold mine in the hope of finding some. Once the stuff is on the surface, its value is entirely psychological - what people are prepared to pay for it. During times like the present when paper currencies are unstable, gold is valued highly. But a string of binary digits is even more unstable than paper backed by a government. And is the perfect instrument of a pump & dump.
Regarding gold:
Once the stuff is on the surface, its value is entirely psychological
Well, not quite entirely. Gold has medical and industrial uses, but they only account for about 10% of consumption. Even if gold had no "psychological" value, it wouldn't be worthless, but it would be worth less.
Over in NZ there are gold mines still. Long after the Central Otago rush ended mid 19thC. Many left for the new rumours in the Yukon. At Macraes they grind up rock and extract PPM of gold.
Over on the West Coast of the South Island there are Mom and Pop setups, a sluice, a gravel pond and associated machinery. Some bastard recently went and vandalised and stole from a slew. Caused $20k of damage to the last one but left all the gold wash and a large nugget sitting on the ground.
I reckon he had too much hot gold from the others to fence.
Oh and back in the 1920's they made Aluminium jewellery. It was knew and hard to make so there wasn't much available.
While we're on metals. NZ has a steel plant, it uses the local ironsands as a feedstock. Took quite some development to make it work in the '50s and '60s. The sand is titanomagnetite and NZ Steel make more actual dollars selling the titanium contaminant they have to scrape off the inside of their blast furnaces than they do selling the major product. NZ is not self sufficient in all steel but goes a long way down that road. Bear in mind most houses are still roofed in corrugated iron (zinc coated) or the baked on modern coating versions.
I helped my father paint ours as a teenager then got to do ours all by myself when we bought our own place. It's a job painting a roof, though the corrugated rollers all the sheds stock make the final coating pretty easy. It's all the prep that takes the time and effort. EVERY nail head has to be individually hand painted before the roller goes on for eg. It's a high summer job (no rain forecast for a couple of days) so you can imagine.
I've tried to understand how it all works but I have more chance of understanding the Theory of Relativity or something.
My kids mine or whatever it's called and seem to do okay - they have a few wizz bang machines that I set up for them thinking they were going to do some serious gaming. Which I suppose is what they do, on reflection.
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