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More bitcoin idiocy

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More bitcoin idiocy

Old 28th Mar 2022, 14:16
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Originally Posted by RAF_Techie101 View Post
Ji. He also has entire fake websites and banks setup where it looks like he has millions in savings just to get them more interested and unwilling to give up...
I've watched both of those, but not for a few months. I don't recall the fake websites from Kitboga - will need to have another view.
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Old 28th Mar 2022, 16:17
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The other one is they say they will pay XYZ into your account, say £50,000, you check your account and the £50,000 actually appears in your account, but mistakenly they have paid in £80,000, they then say whoops, our error can you sent the £30.000 back which you do as you can see it was £80,000 that was paid in, several days later when the transfer clears the bank finds the payment was bogus and removes the £80.000 from your account as it did not exist, but by then they have got your £30,000 and disappeared.


I feel for the guy but also think the bank should have picked up on such large amounts going out and stopped it.
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Old 28th Mar 2022, 17:33
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Originally Posted by NutLoose View Post
I feel for the guy but also think the bank should have picked up on such large amounts going out and stopped it.
They may have tried ande been assured everything was normal - we don't know from the story. This fellow seems to have been so distraught that if he believed the "next payment" would be the one that saved him, then he would probably have done anything to make sure it went through;
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Old 28th Mar 2022, 17:45
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After the financial crash a few years ago, I decided that wasn't a risk I'd take EVER again! So now the remains of my savings are in a bank account which pays a paltry 0.05%, plus a few NS&I Premium Bonds.

One step up from a shoebox under the bed, I guess, but if income is greater than fixed costs and savings are secure, with due allowance for inflation, what else matters?

I'll never be a Rockerfeller, but should hopefully remain financially secure!
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Old 28th Mar 2022, 20:42
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That's pretty much me too

I go to a lot of retirement seminars now (free food!!!) and they offer something that goes up if the stock market goes up, just not as much and stays at zero if the stock market goes down. They are very disparaging about savings accounts and CDs

Unfortunately I 'm too polite to tell them that my savings accounts will go up in either event, AND it's backed by the government, whereas there's are insurance products ... anyone remember AIG?


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Old 28th Mar 2022, 21:15
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There was a story circulating recently about Jeremy Clarkson was making a fortune investing in bitcoin. It was a scam, but some would have believed it.
https://www.thisismoney.co.uk/money/...dorsement.html
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Old 28th Mar 2022, 22:45
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The governments are printing money out of thin air and devaluing the currencies. Where do you think all the money for covid came from? Printing! Why is the cost of living going up so much, printing! Money printing and devaluation of currency is an indirect form of taxation that is being used to pay for covid.
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Old 29th Mar 2022, 14:36
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Mate was farming bitcoin back in 2014 in a basement of a chinese travel agent, now retired worth ten million or so in hard assets after selling out a year ago or so. Since then bitcoin has doubled in value and he is a tortured soul. Some folk are never satisfied.
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Old 29th Mar 2022, 14:52
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Originally Posted by flash8 View Post
Mate was farming bitcoin back in 2014 in a basement of a chinese travel agent, now retired worth ten million or so in hard assets after selling out a year ago or so. Since then bitcoin has doubled in value and he is a tortured soul. Some folk are never satisfied.

When is enough, enough? ask these folks...

https://www.techspot.com/news/91430-...lant-meet.html

What just happened? Crypto mining companies are continuing to find innovative solutions to power problems despite concerns regarding Bitcoin mining's immense power requirements and ecological impacts. A holding company in Pennsylvania recently purchased the financially challenged Scrubgrass power plant. The plant currently produces enough power for 1,800 Bitcoin miners, with output increases planned to support more than 20,000 miners by 2022.

Mining the top cryptocurrencies such as Bitcoin or Ethereum requires vast amounts of power. A single Bitcoin transaction, including the resources needed to mine the coin and to verify the transaction, can total upwards of 1,700 kilowatt hours (kWh). This ever-increasing power demand has forced large crypto mining outfits to leverage any available means to produce their power at the lowest possible cost. In some cases, this leads to mining operations literally taking power production into their own hands.

Stronghold Digital Mining in Kennerdell, Pennsylvania, has joined the ranks of those mining operations that have sought to solve their power delivery challenges themselves. Unlike those companies that leverage regional hydroelectric power or others leveraging energy credits and payments from their respective states, Stronghold recently purchased the Scrubgrass power plant in Venango County, Pennsylvania. According to Stronghold, who advertises their organization as an "environmentally beneficial and vertically integrated Bitcoin miner," the plant will burn Pennsylvania's waste coal to power on-site mining hardware located in shipping containers next to the plant. Waste coal is the residual material left over following coal mining operations; it can be particularly harmful to the environment by leaching metals such as aluminum, iron, and manganese into the soil and surrounding water sources.

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Old 30th Mar 2022, 12:58
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Originally Posted by roll_over View Post
The governments are printing money out of thin air and devaluing the currencies. Where do you think all the money for covid came from? Printing! Why is the cost of living going up so much, printing! Money printing and devaluation of currency is an indirect form of taxation that is being used to pay for covid.
they probably did it for a reason, seems non intervention was a no-go policy for many countries to deal with it...
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Old 30th Mar 2022, 13:28
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Originally Posted by Clop_Clop View Post
they probably did it for a reason, ...
Hmmmm - deep thinking there, Batman !
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Old 30th Mar 2022, 14:13
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If anyone mentions 'Isle of Man' and 'bank' in the same sentence, run a mile. An early post mentioned Kaupthing in this connection, I remember the Isle of Man Savings and Investment Bank which went phut in 1982, and Kingsnorth Finance (IoM) Ltd which hit my father (RAF 1936-1962) for £10,000 in 1987. I had pleaded with my father to get out of it but he said he needed its higher interest rate to augment his barely adequate income. From memory Kingsnorth offered about 30% higher interest than average savings rates. Now that I have outlived my dear old Dad I can understand that change doesn't come easily, and the trust his hard-working generation had so misplaced in finance 'professionals' has been replaced by a rude reply to any overture.
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Old 31st Mar 2022, 08:33
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Originally Posted by Tartiflette Fan View Post
Hmmmm - deep thinking there, Batman !

Hilarious. But this one,
Originally Posted by Tartiflette Fan View Post
They may have tried ande been assured everything was normal
from earlier, is not exactly Von Neumann class as well is it
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