Bitcoin bandwagon.........

[Leesparkykent]

Anyone jumped on the Bitcoin band wagon? Worth under 2K a few months ago and now over 12k ATM. I don't really understand the technology behind it all but looks the fastest growing investment at present.

 

[mattg4321]

Wish I'd got in a few months ago. A mate was trying to get me involved when it was at 3-4k dollars.

I remain a sceptic though. Can see a lot of ordinary people getting burned very shortly. Feels like a bubble is my gut feeling. Of course I could be wrong and it could be 100k next year. I'll sleep more soundly being out than in though!

To sum up its a gamble. It seems like its probably 50/50 going to go one way or the other.

 

[Leesparkykent]

Wish I'd got in a few months ago. A mate was trying to get me involved when it was at 3-4k dollars.

I remain a sceptic though. Can see a lot of ordinary people getting burned very shortly. Feels like a bubble is my gut feeling. Of course I could be wrong and it could be 100k next year. I'll sleep more soundly being out than in though!

To sum up its a gamble. It seems like its probably 50/50 going to go one way or the other.

Yeah that's where I'm at really...I had a mate trying to get me involved about a month a go when it was around the 5K dollars. I didn't chuck anything in the pot as I kept researching it and still wasn't much the wiser. Someone who's involved in the futures market predicted it will hit 15k dollars before she xmas which it's hit today. The same guy predicts a bit coin will be worth half a million by 2022, but if this pace keeps up one will be worth 1 million. Should of brought a load in 2009 when they were about 30cents . Branson brought a grands worth and now that investment is worth over 300 million....like he needed it

 

[Des 56]

I was buying my smokes up till last November from Moldova using Bitcoins, until the customs started intercepting and seizing my deliveries
During that time I was spending the equivalent of £20 a week

I left about £20 in the account and forgot all about it
My son recently asked me if I had any left,we looked at the rate and my £2o is now worth £240 ish

I was pleased and yet disappointed, what I had spent over about 20 weeks of Bitcoins on smokes,it would have had a value of £42,000 if I had just hung on to them
However,I recently bought £100 of coins because they are forecast to rise until the end of 2019,here's hoping

 

[Rock'N'Rebel]

How safe is it or what guarantee is there that the site will be still here tomorrow.??
It's all in cyberspace and there is some very clever hackers.
Easy come easy go I think.

 

[mattg4321]

Nothing wrong with sticking a few hundred quid or a grand or whatever you can afford to lose, but it's a gamble imo.

It just worries me that people are starting to see the £$ signs and rationality goes out the window. I don't see, or maybe understand, where it's intrinsic value is. At least with other fiat currency, it's ultimately backed up by a government that will try to maintain its value to a certain extent and has the ability raise funds through tax etc.

If and when the bitcoin bubble bursts it'll happen very quickly

 

[The Ghost]

The singularity has occurred. Soon we will all receive new cards that trade only on crypto currency from our banks. The future is crypto currency. Viva la Blockchain!

 

[Des 56]

Wow,this thread spurred me into checking the rate against what I hold
I have 0.06282561 Bitcoins worth a grand total of £793.40 smackers

 

[Leesparkykent]

The likes of Goldman Sachs, google, virgin etc seem to be heavily investing in block chain technology. I will probably buy £300-£400 worth and just hold onto it. My pal put £1400 in a few months ago and today it's worth about £3000. Japan is going mental for it ATM....I was reading an article on the carbon footprint of bitcoin and apparently bitcoin mining, transactions etc uses around 150 terrawatt-hours a year.

 

[Leesparkykent]

Wow,this thread spurred me into checking the rate against what I hold
I have 0.06282561 Bitcoins worth a grand total of £793.40 smackers

Happy days...is that from the £20?

 

[static zap]

An expensive recent cock-up. May have caused a flutter.
( in some competing crypto )

 

[Leesparkykent]

An expensive recent cock-up. May have caused a flutter.
( in some competing crypto )

Cut the power to some servers did we?

 

[Des 56]

Happy days...is that from the £20?

The £20 was what was in there in October,a few weeks ago it was valued at £240 after it had been lying there for a year

When I saw how much it had risen,I chucked another £100 into buying more coins,its that combined amount now worth almost £800
I will take a chance that it continues to rise

 

[static zap]

Cut the power to some servers did we?

--No !
A programming nerd ,moved some Emperium about ..
..and made a mistake ,so they evaporated into thin air !!!

 

[Leesparkykent]

$100 in 2012 would be worth around $4000000 today

 

[Madocks]

Buy a few mining machines, bypass your meter and watch the coins role in

Joking of course

 

[PEG]

Radio 4 did a good piece on this,today. The biggest rise,has obviously passed,and there are issues with trading rules and FCA oversight on purchasing.

I suppose it is the same as any other exponentially increasing investment...spend only what you could stand to lose

 

[Gavin John Hyde]

bitcoins are mathematically limited by the formulae used to mine them. so have a certain value but you can in theory mine them on your computer, that is why the Japanese are going mental for them at the moment. they are all sitting there trying to unlock the encryption for a coin to then claim it, they then get the chance to sell the coin making mega money. some Japanese universities have seen their computer systems crash under the workload and systems crash from over heating! Bitcoin can also be stolen, so just because you have them in your e-wallet it doesn't mean a hacker wont take them from you. buyer beware as they say

 

[The Ghost]

The thing I don't like about crypto currency is it puts up the price of graphics cards. As people use the GPU to mine crypto currency. So if a shop gets 10 high end graphic cards someone comes in and buys them all so there is none for me. And the price rockets up.

 

[Wilko]

By experience I can guarantee you that I can make bitcoins worthless. It's very simple. I just buy some, and they will be worth diddly in a week...