| Anybody boarded the Bitcoin Bandwagon? 01:33 - Nov 29 with 4352 views | FredManRave |
It's in the news alot these days and this week the value of one Bitcoin reached 1.000USD. That in itself is astonishing when you realise that it's value as recently as 10 months ago was 25USD. From what I've read and understand about it, it's not exactly straight forward, hashes, addresses, mining, wallets, etc, but there's no doubting that it will have given alot of people a huge return on their initial investment assuming they've cashed in this year.
So I was just curious to know if anybody on here has mined or bought any Bitcoins and if so if they did so to actually use it as a currency and as such take a long term view and actually pay for goods with it due to "ease" and low costs or was it nothing more than a "stock" purchase with a view to make a quick profit - and what a profit.
Extremely volatile though. I think I'll wait for it's next dip which should give me time to understand it all a bit better. Can't help but feel that it's a missed opportunity though.
http://www.bbc.co.uk/news/technology-25130261 [Post edited 29 Nov 2013 1:42]
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| Anybody boarded the Bitcoin Bandwagon? on 01:44 - Nov 29 with 3623 views | Kendo_Nagasaki |
I bought a hundred quids worth about a year ago
not for an investment just ..because I did |  |
| Psycho killer Qu'est-ce que c'est? |
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| Anybody boarded the Bitcoin Bandwagon? on 01:50 - Nov 29 with 3628 views | Brightonhoop |
Unless you bought pre 2008 it's not an investment, wildly fluctuates, but good for under the counter transactions still but cast iron y fronts required. |  | | |
| Anybody boarded the Bitcoin Bandwagon? on 01:51 - Nov 29 with 3616 views | Kendo_Nagasaki |
I'll chip into anything that destabilizes the Dollar | |
| Psycho killer Qu'est-ce que c'est? |
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| Anybody boarded the Bitcoin Bandwagon? on 08:47 - Nov 29 with 3524 views | Pommyhoop |
Way way over my head.. |  |
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| Anybody boarded the Bitcoin Bandwagon? on 09:25 - Nov 29 with 3476 views | Pommyhoop |
HA !!
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| Anybody boarded the Bitcoin Bandwagon? on 11:36 - Nov 29 with 3410 views | NathanNI |
I've a mate who bought 28 years ago. Reckons he is on around 18k at the moment. |  | | |
| Anybody boarded the Bitcoin Bandwagon? on 12:29 - Nov 29 with 3360 views | MrSheen |
I've got some tulip bulbs for you...you can't lose. |  | | |
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| Anybody boarded the Bitcoin Bandwagon? on 13:42 - Dec 18 with 3154 views | Brightonhoop |
Good time to buy I guess. | | | |
| Anybody boarded the Bitcoin Bandwagon? on 13:48 - Dec 18 with 3138 views | MrSheen |
| Anybody boarded the Bitcoin Bandwagon? on 13:42 - Dec 18 by Brightonhoop |
Good time to buy I guess. |
About the only useful motto I've picked up from a career in fund management is, "Whatever you pay, you can always lose 100%." | | | |
| Anybody boarded the Bitcoin Bandwagon? on 14:21 - Dec 18 with 3107 views | pomanjou |
| Anybody boarded the Bitcoin Bandwagon? on 12:29 - Nov 29 by MrSheen |
I've got some tulip bulbs for you...you can't lose. |
Bitcoin, modern day Ponzi/Tulip. |  |
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| Anybody boarded the Bitcoin Bandwagon? on 19:48 - Dec 18 with 2958 views | queensparker |
Can anyone explain, in say 100 words or less, how the hell these actually work?
I've read loads about them and am still utterly clueless as to how they are created. |  | | |
| Anybody boarded the Bitcoin Bandwagon? on 08:52 - Dec 19 with 2822 views | pomanjou |
| Anybody boarded the Bitcoin Bandwagon? on 19:48 - Dec 18 by queensparker |
Can anyone explain, in say 100 words or less, how the hell these actually work?
I've read loads about them and am still utterly clueless as to how they are created. |
This article is worth a read for anyone who is tempted. If you dont have time to read the whole article scroll down to the last PARA.
http://www.investorschronicle.co.uk/2013/11/28/comment/mr-bearbull/the-bitcoin-p
THE LAST PARA.
So which is bitcoin - a quasi-currency we should take seriously or a speculative bubble? A bit of both, though much more of the latter. True, its very existence is a timely reminder to central bankers of the damage they may be doing, That in itself is a useful function. But remember this - like the paper money that the bankers print so freely, a bitcoin has no intrinsic value; it has no claim on a chunk of assets or a stream of income. It is worth only what you reckon others reckon it is worth. Could there be a better definition of a bubble? [Post edited 19 Dec 2013 8:57]
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| Anybody boarded the Bitcoin Bandwagon? on 10:27 - Dec 19 with 2762 views | collegeranger |
A couple of friends bough 200 coins each about this time last year. I was tempted as it was £300 or so. But I wasn't brave enough. Both have kept all of them and can do the maths!!! One is selling he told me at $1000 so I guess he is done and he will use proceeds to pay off mortage and pay CGI's on it. The other one bought more and is sitting on £600K!
Doh!! |  | | |
| Anybody boarded the Bitcoin Bandwagon? on 10:35 - Dec 19 with 2752 views | Metallica_Hoop |
I always think of Bit Corp.
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| Beer and Beef has made us what we are - The Prince Regent |
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| Anybody boarded the Bitcoin Bandwagon? on 11:52 - Jan 8 with 2402 views | wombat |
| Anybody boarded the Bitcoin Bandwagon? on 10:35 - Dec 19 by Metallica_Hoop |
I always think of Bit Corp.
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still have no bloody idea how these things work how u buy or trade them and do they work in fag machines for 20 b+h gold on a saty night |  |
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| Anybody boarded the Bitcoin Bandwagon? on 14:34 - Jan 8 with 2179 views | essextaxiboy |
Too close to retirement to take the risk and although investing is my hobby the mantra "dont invest in something that you dont understand " would put me off anyway . |  | | |
| Anybody boarded the Bitcoin Bandwagon? on 14:04 - Nov 20 with 1196 views | BrianWilson |
Dunno if anyone is still interested in crypto but it's over $94K today for 1 bitcoin. Quite a difference from when this thread was started  |  |
| "a diseased bunch of mofos if there ever was one, their beauty is so awesome that listening to them at their best is like being in some vast dream cathedral decorated with a thousand gleaming American pop culture icons."
- Lester Bangs on The Beach Boys |
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| Anybody boarded the Bitcoin Bandwagon? on 14:32 - Nov 20 with 1098 views | TheChef |
| Anybody boarded the Bitcoin Bandwagon? on 14:04 - Nov 20 by BrianWilson |
Dunno if anyone is still interested in crypto but it's over $94K today for 1 bitcoin. Quite a difference from when this thread was started |
Congrats on digging up a thread from 2013!!  |  |
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| Anybody boarded the Bitcoin Bandwagon? on 14:35 - Nov 20 with 1086 views | BrianWilson |
| Anybody boarded the Bitcoin Bandwagon? on 14:32 - Nov 20 by TheChef |
Congrats on digging up a thread from 2013!! |
well, I'm wondering if the guy that bought 200 btc now has 200 times 94k  | |
| "a diseased bunch of mofos if there ever was one, their beauty is so awesome that listening to them at their best is like being in some vast dream cathedral decorated with a thousand gleaming American pop culture icons."
- Lester Bangs on The Beach Boys |
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| Anybody boarded the Bitcoin Bandwagon? on 14:35 - Nov 20 with 1086 views | Bluce_Ree |
It's a load of shit.
Bitcoin, and all crypto, is too slow to do anything. How could you buy a car or a house with it knowing that the crypto you pay out could be worth tons more in a day? Or less? There's no protections with it.
It's just person vs person finance. The only thing you can do is hope to sell your stake to someone willing to pay more. That's how all Ponzi schemes work. New money flows in, you cash out, and then eventually there's no more money coming in.
If you own BTC, all you can do with it is hope a bigger sucker comes along and buys it.
Sure, you might make some money but it'll be at someone else's expense. |  |
| Stefan Moore, Stefan Moore running down the wing. Stefan Moore, Stefan Moore running down the wing. He runs like a cheetah, his crosses couldn't be sweeter. Stefan Moore. Stefan Moore. Stefan Moore. |
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| Anybody boarded the Bitcoin Bandwagon? on 16:00 - Nov 20 with 946 views | CroydonCaptJack |
My nephew mined it for fun when he was a spotty youth. All his coins were thus obtained free when it first started.
He retired at 28 after selling only one about one fifth of his total coins. |  | | |
| Anybody boarded the Bitcoin Bandwagon? on 16:26 - Nov 20 with 905 views | PlanetHonneywood |
2014 I was talking to a bloke about it, and he really had got in early and so off I went and did a lot of research before dipping a couple of toes in.
I get the sense behind it, but like social media, it's destined to be fraught with difficulties, especially if governments/central banks increase the push-back.
Given volatility in the ecosystem, I applied the old adage that you should only gamble what you can afford to lose before going in. Equally, you do need to really keep on top of it, and I just did not have the time. Exited and comparatively, yeah, no complaints on what I made. But while I like my ice cream to be a really good vanilla, with an occasional dabble with salted caramel, this is maybe a little too too tutti fruitti for me.
If you go in: get a special memory stick, protonmail email account, a solid authenticator, and really do your research on which trading platform you are going to use...hence, get a memory stick and remember: if you don't hold it, you don't own it! |  |
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