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  • FIRST POST
    • Moneygrabber89
    • By Moneygrabber89 10th Jun 17, 10:00 PM
    • 50Posts
    • 3Thanks
    Moneygrabber89
    Bitcoin
    • #1
    • 10th Jun 17, 10:00 PM
    Bitcoin 10th Jun 17 at 10:00 PM
    Can anybody offer any advice on this in general. Is it worth buying?

    A guy from my work has just left as now starting to work with Bitcoin. He is an it technician so he said he can make major money with it.

    Basically what im trying to get at is there a way to make big money with these and how
Page 2
    • zzzt
    • By zzzt 9th Aug 17, 7:54 PM
    • 196 Posts
    • 193 Thanks
    zzzt
    I was offered 100 bitcoins at £1each in 2010 I think it was and now I read its worth £2,500
    So I'm a bit gutted as you can imagine.
    But is it all as it seems?
    I see many stories about people holding massive wallets but not many seem to be selling and getting the money in their bank accounts.

    Are they really getting paid out as being totally selfish I'm hoping it's all a scam but knowing my luck it's not.
    Originally posted by majorwally
    Yes it's real, and extremely easy to turn Bitcoin into fiat currency. If you had bought 100 BTC at £1 each and held until today, you would be very happy I imagine.
    • Beartricks
    • By Beartricks 9th Aug 17, 8:40 PM
    • 158 Posts
    • 140 Thanks
    Beartricks
    It's not worth mining bitcoin now. Instead it's more like a stock that people buy and sell as the price rises and falls.

    It is also completely traceable and that's partly why there are other currencies springing up trying to solve that problem. You can see every Bitcoin transaction online, and while the identities are hidden it's apparently fairly easy to figure it out from context.

    The OP's colleague is pretty naive to think that they can make money from it, unless they're actually investing in the blockchain rather than Bitcoins themselves. Or maybe they're actually investing tens of thousands, in which case you'd probably have more luck with exchange traded funds.
    • Moneygrabber89
    • By Moneygrabber89 24th Aug 17, 1:14 PM
    • 50 Posts
    • 3 Thanks
    Moneygrabber89
    how can I but some? what website?

    do you buy using paypal for security?
    • extraJam
    • By extraJam 24th Aug 17, 10:06 PM
    • 154 Posts
    • 62 Thanks
    extraJam
    No it actually recently crashed and lost 3 billion in value on one day. My husbands friend a few years back, had a lot. Fast forward to now it's worth peanuts !

    Personally things like that aren't for me. Id prefer real money !
    Originally posted by Aced2016
    Erm it's worth 4000 dollars each right now, and it's gone up a factor of ten over the last year, over 20 over the last two years, not to mention all the other currencies that have exploded in value.... I'd hate to be your husband's friend if he sold at the bottom of the market and didn't buy back. (But then again there are a lot of people who did that!)
    • phillw
    • By phillw 29th Aug 17, 8:10 PM
    • 827 Posts
    • 435 Thanks
    phillw
    how can I but some? what website?

    do you buy using paypal for security?
    Originally posted by Moneygrabber89
    No, you generally have to transfer money into an exchange account & hope they don't steal it.

    Because sometimes, they steal it... https://en.wikipedia.org/wiki/Mt._Gox

    Exchanges have had their UK bank accounts seized under money laundering rules, so you normally have to send the money to less regulated countries to buy into it.

    BTC could be the next big thing, or the next Tulip https://en.wikipedia.org/wiki/Tulip_mania

    Of course I wish I'd put a grand in when it was less than $1 (People used to give them away). Buying now when I don't have money to gamble, maybe not.

    Some guy bought the most expensive pizza ever http://uk.businessinsider.com/bitcoin-pizza-day-passes-2000-20-million-2017-5
    Last edited by phillw; 29-08-2017 at 8:16 PM.
    • lucycoin
    • By lucycoin 6th Sep 17, 11:06 AM
    • 2 Posts
    • 0 Thanks
    lucycoin
    Buy Bitcoin
    Hi,

    You can buy Bitcoin from CoinCorner. No paypal needed, you can purchase buy card.

    Really easy to do once you have registered.

    Enjoy!
    • lucycoin
    • By lucycoin 6th Sep 17, 11:10 AM
    • 2 Posts
    • 0 Thanks
    lucycoin
    I would buy Bitcoin and hold it for three years and watch the value go up. Better interest than your money being in the bank
    • C_Mababejive
    • By C_Mababejive 6th Sep 17, 11:10 AM
    • 10,251 Posts
    • 9,309 Thanks
    C_Mababejive
    Everyone is talking about bitcoin now and talking about how it can only go up and make money. The truth is that by the time the bottom feeders (thats most of us) get in on the act, the big money has been made and we are just being suckered in to bolster the remaining profits of others before it drops and we pay the price.
    Feudal Britain needs land reform. 70% of the land is "owned" by 1 % of the population and at least 50% is unregistered (inherited by landed gentry). Thats why your slave box costs so much..
    • bones85
    • By bones85 7th Sep 17, 9:39 PM
    • 37 Posts
    • 23 Thanks
    bones85
    i've got 0.0026004 bitcoins lol, worth £9! they worth £4 a couple of months ago
    • phillw
    • By phillw 7th Sep 17, 10:13 PM
    • 827 Posts
    • 435 Thanks
    phillw
    Everyone is talking about bitcoin now and talking about how it can only go up and make money. The truth is that by the time the bottom feeders (thats most of us) get in on the act, the big money has been made and we are just being suckered in to bolster the remaining profits of others before it drops and we pay the price.
    Originally posted by C_Mababejive
    It's too late to make big money, there are a lot of people with hugs stashes of them who are slowly selling out (otherwise it triggers a crash).

    However you can still make money as you just need to find a bigger sucker.
    • Moneygrabber89
    • By Moneygrabber89 8th Sep 17, 5:21 PM
    • 50 Posts
    • 3 Thanks
    Moneygrabber89
    So yes still buy? If I put in 300 quid is it likely to make money
    • Moneygrabber89
    • By Moneygrabber89 10th Sep 17, 1:08 PM
    • 50 Posts
    • 3 Thanks
    Moneygrabber89
    What website can I buy from?

    Do I have to pay for a wallet thing to store them? Is the process of selling easy
    • Maelzoid
    • By Maelzoid 14th Sep 17, 11:55 AM
    • 16 Posts
    • 8 Thanks
    Maelzoid
    What website can I buy from?

    Do I have to pay for a wallet thing to store them? Is the process of selling easy
    Originally posted by Moneygrabber89
    I have bought from Bittylicious.com and coinfloor.co.uk and would recommend them both. I have also bought from coinbase.com but find their customer service to be terrible.

    You can download a wallet for free - there are a lot out there which can be quite confusing to start with. I use breadwallet which is a mobile-only wallet.

    Many wallets are reviewed here:

    https://99bitcoins.com/best-bitcoin-wallet-comparison-review/

    I would recommend reading a fair bit about bitcoin before jumping in so that you are familiar with it and the jargon. Coindesk.com is a good source of news and info.

    Do not invest money you cannot afford to lose!
    • Maelzoid
    • By Maelzoid 14th Sep 17, 11:58 AM
    • 16 Posts
    • 8 Thanks
    Maelzoid
    So yes still buy? If I put in 300 quid is it likely to make money
    Originally posted by Moneygrabber89
    Although I personally think it will make you money, especially in the long term, I and indeed nobody can make any guarantees about this.

    Money in a savings account will never go down, although the interest is minimal, so can be considered safe. By that standard, bitcoin is speculative and cannot be considered at all safe.
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