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1  Other / Beginners & Help / Re: Are floppy disks safe to store wallets? on: May 22, 2016, 04:41:13 AM
Forget floppies they degrade over time (even CDs do).

I had a box of 100 floppies stored in a cool, dark place and 10 years later many were totally unreadable.
2  Bitcoin / Bitcoin Discussion / Re: Halving is a profitable??? on: May 22, 2016, 04:03:31 AM
Don't forget all that future price expectations are built into the current price. This is basic economics.

That's why when a company issues an earnings report, the price stays pretty much the same if it is in line with expectations.

If the aggregate consensus is that the price will increase after halving then the increase is probably already priced in as fewer people sell up and more hold on to their bitcoins already.
3  Bitcoin / Bitcoin Discussion / Re: SWIFT hacked...again. What does it mean for Bitcoin? on: May 22, 2016, 03:42:49 AM
SWIFT is nothing more than a standardised messaging system let's not forget.

Think of it as (supposedly) secure email.

These days bank payment systems used by companies require a second factor. If I'm not mistaken, swift does not require this. But surely it must be coming then, it's quite an antiquated system.

I don't think this gives more power to bitcoin what has happened here.

What I don't understand is how the hackers can get a BIC code. You normally need to be vetted and authorised to get one and therefore receive money. No Tom, Dick or Harry can get their own BIC.
4  Other / Off-topic / Re: How many btc do you have? on: May 22, 2016, 03:21:34 AM
Unfortunately, pretty much zilch.

Back in 2011 I bought about 500 USD worth of BTC.

I sold out at almost the same price a couple months later as I needed the money.

I did the same a couple of years later.

Of course I needed the money.

Those who say I made a mistake don't understand that current prices reflect future expectations (like fiat currencies or stock market). Nobody has a crystal ball.

Besides, we miss out on many other opportunities in life too. Who could foresee the housing price boom, million dollar pixel web sites, three letter domains, Apple stock price increase etc.

A little luck is needed sometimes.
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