A Flutter on Bitcoin.

About Bitcoin

There is no mint or central place where these digital coins (Bitcoin) are fabricated and no one specific server that churns them out. You cannot buy from a bank either.

You will need to recognise a few facts and other things in order to buy Bitcoin. It is important to understand that Bitcoin is digital money. There is no hard currency that you can feel. It exists in cyberspace – a crypto currency. It is protected by cryptography and is only digital money. (Only being a bit of an understatement.) It is online as digital info and never printed in a bill or coin. The only certificate is online.

I bought my first £100 of Bitcoin and decided to sit on this for a year. I’ll see if it does any good by next year. It seems to be increasing in value at an alarming rate, but things can change and I’m no expert on the ups and downs of any type of stock market, let alone how Bitcoin works in valuation terms. I can make out the graphs on a daily basis and I can see the increased value of Bitcoin plus the odd drop from time to time. However, over the years it has been in existence, the rise is astounding. 

Perhaps we will laugh at old retro style money one day soon. It will go out of fashion and we'll have our wealth on a computer credit database. Or will there emerge a new black market underground for retro hardcore currency? 

There and Back Again - A Chav that Blew it's Tale.

Dear, oh dear! When I read this man's story, I felt sick with disgust at first. "What an absolute waste," I kept saying to myself. All those people - family and kids... This lotto winning Chav as blown the lot, ended up on benifits, and now works in a biscuit factory in Elgin, Scotland. How could he have blown so much money in such a short space of time? As I read the news piece below, I told myself there was a moral lesson there somewhere. But to waste such an expensive lesson on one, self indulgent person, is beyond me when there are so many in this world who don't get a decent bite of the cherry. There is an irony there, but I can't bare to look at it. 

News item:

Lotto lout Michael Carroll, famous for blowing a £10 million lottery jackpot is now working in a shortbread factory in Elgin, Scotland.

The self-proclaimed "king of chavs" gained notoriety after his win, allegedly squandering the cash on booze, drugs, gambling and prostitutes. He even invested £1 million into Rangers FC, but managed to reclaim the investment before they went into administration. In February 2010 it emerged that the convicted criminal was back on jobseekers allowance, after declaring himself bankrupt.

Father of two Carroll, is now believed to be living in a two bedroom bungalow in Urquhart, near Elgin where he works at the Walkers shortbread factory.

According to the Daily Record, a local said “He’s got the same English accent, though he has lost a lot of weight – that’s why no one recognised him right away – but within short order of him starting, there was no doubt it was him.

“He’s not been anti-social since he’s been here; he’s just got his head down and got on with the job."
“You don’t expect to see a lottery millionaire with the overalls on getting stuck in. Fair play to him."
“He told people he has been on benefits so he’s chuffed to be working and earning.”

Carroll has been jailed twice since his lottery win, and weighed up to 22 stone after piling on the pounds. It’s claimed that he still buys lottery tickets, hoping for another big win.