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    • $nake eye$
    • By $nake eye$ 12th Oct 16, 6:25 PM
    • 347 Posts
    • 144 Thanks
    $nake eye$
    Just curious.. have you spent any Bitcoin? Maybe on OpenBazaar or any other location? I must admit ive only bought a coffee in Singapore, and a VPN service
    • ben501
    • By ben501 13th Oct 16, 12:54 PM
    • 117 Posts
    • 134 Thanks
    ben501
    Just curious.. have you spent any Bitcoin?
    Originally posted by $nake eye$
    I helped out a friend a couple of years ago. He found a special Bitcoin offer on web-hosting, anti-virus or something like that. Buy one year's subscription, get one free. It was a flash sale and he didn't have time to buy any himself, so I 'lent' him some of my stash.
    • VeroWright
    • By VeroWright 7th Nov 16, 11:22 AM
    • 5 Posts
    • 0 Thanks
    VeroWright
    Hi, everyone!

    I'm interested in investing my money in bitcoins, but I have a few questions:

    1) Is it real to have profit from trading them?
    2) How to make passive income from them?

    Thanks in advance!
    • Malthusian
    • By Malthusian 7th Nov 16, 2:53 PM
    • 1,167 Posts
    • 1,538 Thanks
    Malthusian
    1) Yes, if someone in the future wants to buy them for more than you paid for them. The chances that anyone will want to are, at best, random.
    2) You can't, their yield is zero.

    Bitcoins are a currency and buying them in the hope they go up is speculation, not investment.
    • jdw2000
    • By jdw2000 14th Nov 16, 2:28 PM
    • 140 Posts
    • 22 Thanks
    jdw2000
    There are a few different threads on Bitcoin.

    I read a year or so ago about a bloke who bought some Bitcoin about 10 years ago in order to write about it. He forgot about it, recently came across it, and has since bought a house outright with it's new value.


    Is Bitcoin a worthwhile investment? Do you have some? Does anyone here have knowledge on this which may convince others to buy or stay away?
    • bowlhead99
    • By bowlhead99 14th Nov 16, 3:10 PM
    • 5,087 Posts
    • 8,990 Thanks
    bowlhead99
    Is Bitcoin a worthwhile investment? Do you have some? Does anyone here have knowledge on this which may convince others to buy or stay away?
    Originally posted by jdw2000
    I have a few (like two or three); I used to have more, but not loads. As mentioned by others above they would be a highly specialist and speculative investment - a gamble on what of anything will be paid for them in the future.

    As you mention, they have been around for years. From here, it is not specifically bitcoin per se which is interesting, is the underlying technology as a concept that has the future value for the way people set up all manner of systems.

    To you as a relative newbie who is only just getting to grips with pension and isa and unwrapped fund investing, I would say your money can be put to better use.

    But just to repeat your question:
    Is Bitcoin a worthwhile investment? Do you have some? Does anyone here have knowledge on this which may convince others to buy or stay away?
    Originally posted by jdw2000
    - did you notice that you were posting this onto a thread that already had 1704 posts, largely attempting to answer those questions? Personally I don't have the time or patience to go back and sum up all the key messages from the original conversations for you. Suggest you just keep scrolling back pages until you have your answers or get bored...

    • jdw2000
    • By jdw2000 14th Nov 16, 10:04 PM
    • 140 Posts
    • 22 Thanks
    jdw2000
    Many thanks for that. Will have a read. But you're right, I have better things to focus on right now.

    Cheers!
    • sabretoothtigger
    • By sabretoothtigger 24th Nov 16, 3:54 PM
    • 9,968 Posts
    • 6,581 Thanks
    sabretoothtigger
    Bitcoin isnt an investment, its a currency maybe token some call it a commodity but you arent investing into anything specific.

    Even the intellect behind bitcoin is not something you are buying into, its not unique or copyright in any way. The code to bitcoin is open source, which means anyone at all can copy it and make a very similar version.
    There are hundreds of bitcoin networks, some almost exactly the same and some very different but nobody owns these exactly. All compete with each other for custom. They are just operated by users and people hold onto some of the products of the blockchain which is the bitcoin or whatever its called for each one.

    Owning a business that part takes in bitcoin code would be investment. I had royalty shares for one, it allowed trading but was broken in a kind of confidence scam by a trojan horse. The company is now going through courts as it lost customer funds. It grew for a while (300%) and I sold enough to not lose anything much, shame though
    Last edited by sabretoothtigger; 24-11-2016 at 3:58 PM.
    Tokyo residential prices have gone from 4x London in 1990 to ¼ London in 2014
    Maybe this is one of those cases where you can’t go home again,
    by Ben S. Bernanke, former Fed chairman
    • tim_n
    • By tim_n 26th Nov 16, 8:23 PM
    • 1,549 Posts
    • 1,309 Thanks
    tim_n
    Bought £15 worth. Spend £10 of it. The £5 went up to £75. I spent £15 of it. Now it's gone back to £66. It's worked well for me, if I'd sunk my life savings into it at the time I'd be a very rich chap. Remember some of the faucet sites (give away free coins ) used to give away 1-2 coins for nothing. Now they give tiny fractions away and coins can be worth several hundred quid. It's not investment, it's speculation.
    Tim
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