Bitcoin

edited 1 December 2017 at 11:29AM in Boost Your Income
70 replies 22.2K views
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  • BeartricksBeartricks Forumite
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    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.
  • Moneygrabber89Moneygrabber89 Forumite
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    how can I but some? what website?

    do you buy using paypal for security?
  • extraJamextraJam Forumite
    157 Posts
    Aced2016 wrote: »
    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 !

    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!)
  • edited 29 August 2017 at 8:16PM
    phillwphillw Forumite
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    edited 29 August 2017 at 8:16PM
    how can I but some? what website?

    do you buy using paypal for security?

    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
  • Hi,

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

    Really easy to do once you have registered.

    Enjoy!
  • 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_MababejiveC_Mababejive Forumite
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    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..
  • bones85bones85 Forumite
    100 Posts
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    i've got 0.0026004 bitcoins lol, worth £9! they worth £4 a couple of months ago
  • phillwphillw Forumite
    4.3K Posts
    Eighth Anniversary 1,000 Posts Name Dropper
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    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.

    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.
  • So yes still buy? If I put in 300 quid is it likely to make money
This discussion has been closed.
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