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  • FIRST POST
    • NineDeuce
    • By NineDeuce 6th Dec 17, 9:01 AM
    • 526Posts
    • 468Thanks
    NineDeuce
    Bitcoin
    • #1
    • 6th Dec 17, 9:01 AM
    Bitcoin 6th Dec 17 at 9:01 AM
    There are so many websites regarding this giving complicated explanations of what it is and how it works.

    However, is it worth investing in?

    Where and how can you buy things?

    Or is it better to buy and watch the value of it?

    Are there any alternatives to Bitcoin that exist or are up and coming which might be a better investment... if it is indeed a good investment at all?.....
Page 1
    • enjoyyourshoes
    • By enjoyyourshoes 6th Dec 17, 9:03 AM
    • 807 Posts
    • 986 Thanks
    enjoyyourshoes
    • #2
    • 6th Dec 17, 9:03 AM
    • #2
    • 6th Dec 17, 9:03 AM
    Risky........... read MSE article on bitcoin
    Debt is a symptom, solve the problem.
    • ColdIron
    • By ColdIron 6th Dec 17, 9:11 AM
    • 3,657 Posts
    • 4,400 Thanks
    ColdIron
    • #3
    • 6th Dec 17, 9:11 AM
    • #3
    • 6th Dec 17, 9:11 AM
    Try this or do forum search, there are many threads
    https://blog.moneysavingexpert.com/2017/11/30/invest-bitcoin-four-things-need-know/
    • Browntoa
    • By Browntoa 6th Dec 17, 9:13 AM
    • 31,939 Posts
    • 37,677 Thanks
    Browntoa
    • #4
    • 6th Dec 17, 9:13 AM
    • #4
    • 6th Dec 17, 9:13 AM
    Long running thread

    http://forums.moneysavingexpert.com/showthread.php?t=5751985&highlight=bitcoin
    I'm the Board Guide of the Referrers ,Telephones, Pensions , Shop Don't drop ,over 50's and Discount Code boards which means I volunteer to help get your forum questions answered and keep the forum runnning smoothly .However, please remember, board guides don't read every post. If you spot an inappropriate or illegal post please report it to forumteam@moneysavingexpert.com Any views are mine and not the official line of MoneySavingExpert.
    • bowlhead99
    • By bowlhead99 6th Dec 17, 9:17 AM
    • 6,985 Posts
    • 12,575 Thanks
    bowlhead99
    • #5
    • 6th Dec 17, 9:17 AM
    • #5
    • 6th Dec 17, 9:17 AM
    There are so many websites regarding this giving complicated explanations of what it is and how it works.

    However, is it worth investing in?

    Where and how can you buy things?
    Originally posted by NineDeuce
    Why don't you read some of the many websites that give explanations of what it is and how it works. Rather than turn this website into yet another of those websites.

    If it is complicated for you to understand, it's because it's a fundamentally complex product.

    You can of course treat it as a very simple product that will either go up or down in value. Without doing any analysis yourself, you won't know which conclusion to form.

    Have you read any of the many existing threads here? Why not do a search for them and add your comments on the more recent ones.
    Or is it better to buy and watch the value of it?
    You should probably decide if you want to risk your money in it and whether you would prefer to buy and watch it go up and down, or not buy and watch it go up and down.

    Ignoring it is certainly an option.

    Are there any alternatives to Bitcoin that exist or are up and coming which might be a better investment.
    Yes, many of them. But investments involve risking your capital, you might lose everything -with bitcoin or any of the rivals. The people with belief /hope that they won't, drives the market up until more people start to believe the opposite which drives it down. It could "settle" at $200k or $0.02.
    • Malthusian
    • By Malthusian 6th Dec 17, 9:30 AM
    • 3,433 Posts
    • 5,261 Thanks
    Malthusian
    • #6
    • 6th Dec 17, 9:30 AM
    • #6
    • 6th Dec 17, 9:30 AM
    BitCoin seems to have turned into the new London Capital & Finance.
    • NineDeuce
    • By NineDeuce 6th Dec 17, 9:40 AM
    • 526 Posts
    • 468 Thanks
    NineDeuce
    • #7
    • 6th Dec 17, 9:40 AM
    • #7
    • 6th Dec 17, 9:40 AM
    Why don't you read some of the many websites that give explanations of what it is and how it works. Rather than turn this website into yet another of those websites.

    If it is complicated for you to understand, it's because it's a fundamentally complex product.

    You can of course treat it as a very simple product that will either go up or down in value. Without doing any analysis yourself, you won't know which conclusion to form.

    Have you read any of the many existing threads here? Why not do a search for them and add your comments on the more recent ones.

    You should probably decide if you want to risk your money in it and whether you would prefer to buy and watch it go up and down, or not buy and watch it go up and down.

    Ignoring it is certainly an option.


    Yes, many of them. But investments involve risking your capital, you might lose everything -with bitcoin or any of the rivals. The people with belief /hope that they won't, drives the market up until more people start to believe the opposite which drives it down. It could "settle" at $200k or $0.02.
    Originally posted by bowlhead99
    I dont know what to make of this post. I am slightly appreciative and also baffled. You suggest I should go and look somewhere else and through the many other websites rather than turn this discussion into one while raising points for discussion.

    The reason that I post on here is with the hope of it reaching people who can explain in a less technical way.

    Using your logic, 'look at other posts and websites' could be advice directed towards anything on here. Every day sees threads which could be deemed as repetition on something else posted earlier.
    • JohnRo
    • By JohnRo 6th Dec 17, 9:43 AM
    • 2,478 Posts
    • 2,226 Thanks
    JohnRo
    • #8
    • 6th Dec 17, 9:43 AM
    • #8
    • 6th Dec 17, 9:43 AM
    A week is a long time..

    http://forums.moneysavingexpert.com/showthread.php?t=4513615

    most of the detractors there have skulked off but you can always rely on BTC discussion to attract new ones.
    'We don't need to be smarter than the rest; we need to be more disciplined than the rest.' - WB
    • jamei305
    • By jamei305 6th Dec 17, 9:46 AM
    • 236 Posts
    • 283 Thanks
    jamei305
    • #9
    • 6th Dec 17, 9:46 AM
    • #9
    • 6th Dec 17, 9:46 AM
    If it carries on at the current rate bitcoin will be using more electricity than the USA in 18 months time.
    • fun4everyone
    • By fun4everyone 6th Dec 17, 9:52 AM
    • 850 Posts
    • 1,385 Thanks
    fun4everyone
    The reason that I post on here is with the hope of it reaching people who can explain in a less technical way.
    Originally posted by NineDeuce
    It is extremely hard to have a reasoned and informed discussion on bitcoin here but try this video for starters.

    https://www.youtube.com/watch?v=l1si5ZWLgy0&app=desktop
    • msallen
    • By msallen 6th Dec 17, 9:56 AM
    • 595 Posts
    • 574 Thanks
    msallen
    I dont know what to make of this post. I am slightly appreciative and also baffled. You suggest I should go and look somewhere else and through the many other websites rather than turn this discussion into one while raising points for discussion.

    The reason that I post on here is with the hope of it reaching people who can explain in a less technical way.

    Using your logic, 'look at other posts and websites' could be advice directed towards anything on here. Every day sees threads which could be deemed as repetition on something else posted earlier.
    Originally posted by NineDeuce
    I think the point is that there are many other websites which specialise in bitcoin (and other similar "currencies").

    This site's forums have been infested with a small handful of "true believers"© recently who have spawned a number of threads - there is no need for another similar one, you could simply use the search function to find and contribute to one of these.

    The experienced investors here have all given their opinion on bitcoin (and etherium etc etc) numerous times. You are unlikely to be told anything new by them that has not already been said on previous threads, although conversely the aforementioned "true believers"© will no doubt be only too happy to tell you what a fantastic "investment" it is and how will you be a millionaire in no time.
    • Bonnie151
    • By Bonnie151 6th Dec 17, 12:01 PM
    • 238 Posts
    • 15,969 Thanks
    Bonnie151
    I suppose I could be called a “true believer”. I bought in years ago at £10 a coin when it was very much the dark side of Bitcoin and everyone sneered at me for my foolishness. I held through the Mount Gox debacle while being sneered at even more. FWIW, I view it as a complete gamble- I could also be described as an experienced investor and this is not like *anything* else I hold. I don’t like the massive flavour of the month that is currently happening and will only serve to amplify the next big crash as new buyers panic and sell at a loss.

    I’ll continue to hold for the foreseeable future (have a target price and don’t mind sitting through more catastrophic crashes), but by God, it’s not an “investment”.
    Hmmmm, need new siggie
    • adonis10
    • By adonis10 7th Dec 17, 12:04 PM
    • 1,482 Posts
    • 194 Thanks
    adonis10
    I suppose I could be called a “true believer”. I bought in years ago at £10 a coin when it was very much the dark side of Bitcoin and everyone sneered at me for my foolishness. I held through the Mount Gox debacle while being sneered at even more. FWIW, I view it as a complete gamble- I could also be described as an experienced investor and this is not like *anything* else I hold. I don’t like the massive flavour of the month that is currently happening and will only serve to amplify the next big crash as new buyers panic and sell at a loss.

    I’ll continue to hold for the foreseeable future (have a target price and don’t mind sitting through more catastrophic crashes), but by God, it’s not an “investment”.
    Originally posted by Bonnie151

    Now worth 11.5k per coin. Not tempted to bolt?
    • BananaRepublic
    • By BananaRepublic 7th Dec 17, 12:13 PM
    • 917 Posts
    • 663 Thanks
    BananaRepublic
    I suppose I could be called a “true believer”. I bought in years ago at £10 a coin when it was very much the dark side of Bitcoin and everyone sneered at me for my foolishness. I held through the Mount Gox debacle while being sneered at even more. FWIW, I view it as a complete gamble- I could also be described as an experienced investor and this is not like *anything* else I hold. I don’t like the massive flavour of the month that is currently happening and will only serve to amplify the next big crash as new buyers panic and sell at a loss.

    I’ll continue to hold for the foreseeable future (have a target price and don’t mind sitting through more catastrophic crashes), but by God, it’s not an “investment”.
    Originally posted by Bonnie151
    In your shoes I'd take profits, or at least cash in half. You can't predict the future.
    • Bonnie151
    • By Bonnie151 7th Dec 17, 12:14 PM
    • 238 Posts
    • 15,969 Thanks
    Bonnie151
    Sadly, I am greedy. I did get some for free following the fork with Bitcoin Cash (at the time, my BTC were held on localbitcoins and they eventually gave us compensation in Bitcoin). If it ever hits £30k a coin, I will sell £50k worth of my free allocation and be happy. I now suspect we will have a massive crash before then and who knows if it will recover enough to hit £30k!

    If it does survive, I have a much higher target for the rest. When I originally purchased, I had 2027 in mind for that target. Who knows what will happen now- at least it’s been a whole lot of fun, no matter what!
    Hmmmm, need new siggie
    • Bonnie151
    • By Bonnie151 7th Dec 17, 12:15 PM
    • 238 Posts
    • 15,969 Thanks
    Bonnie151
    I should make it clear, I don’t have millions in Bitcoin!
    Hmmmm, need new siggie
    • adonis10
    • By adonis10 7th Dec 17, 12:22 PM
    • 1,482 Posts
    • 194 Thanks
    adonis10
    Sounds like you have a pretty penny, though. Good luck to you, get as much out of it as you can. So, so envious!
    • Qubit
    • By Qubit 7th Dec 17, 2:04 PM
    • 41 Posts
    • 3 Thanks
    Qubit
    For anyone interested in Bitcoin i highly recommend researching it properly - https://lopp.net/bitcoin.html. Lots of resource there as a starting place. Id start with Bitcoin for Beginners by Andreas Antonopoulos.
    • Fatbritabroad
    • By Fatbritabroad 7th Dec 17, 2:10 PM
    • 194 Posts
    • 95 Thanks
    Fatbritabroad
    I should make it clear, I don’t have millions in Bitcoin!
    Originally posted by Bonnie151
    Post for the hackers on the site there
    • Bonnie151
    • By Bonnie151 7th Dec 17, 2:28 PM
    • 238 Posts
    • 15,969 Thanks
    Bonnie151
    Post for the hackers on the site there
    Originally posted by Fatbritabroad

    Good luck to anyone trying to hack my hardware wallet.
    Hmmmm, need new siggie
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