Bitcoins

jimjames

Malthusian wrote: »

I would have thought you'd have had enough of get-rich-quick schemes after you lost all that money with binary options.

Some people never learn.

I find bitcoins promotion a bit bizarre when people post how much they've made. If I did the same when the FTSE rises it would look like bragging, for some reason they consider that acceptable for bitcoins

Tubu

Someone made the point about what 'fair value' is for bitcoins. I agree it is hard to say what a fair value is and it has no value other than subjective value. But I read that a bit of ceramic sold for $38m last week and the value of that was subjective too.
I have some bitcoins which I bought and decided to forget about them until I read they've hit a price that makes me think it's really worth cashing in. Otherwise I just forget I own them.

sjp999

Eco_Miser wrote: »

gold is $40,951.45 per kg right now, bitcoin $4,318.72 each, so gold looks to be nearly 10 times as valuable.

Actually they're not comparable, as you can't have a kg of bitcoin, nor an each of gold.

I now have a craving to own an each of gold, I'm now going to waste an inordinate amount of time looking to make sure you're not telling porkies!

levdon01

My worry with Bitcoins is if there could be a series of similar crypto currencies issued which may dilute the supply of crypto-currencies. I am not an expert on this type of investment but I would urge you to be conservative on your position in this sort of investment.

bones85

Ripple (XPR) is one to keep an eye on apparently

kerrjp

Ripple (XPR) is one to keep an eye on apparently

Ripple is somewhat different to other Alt Coins, it is slowly gaining promise of future adoption by financial institutions and as such it is very stable in terms of its current price, its fluctuations are very small compared to other Alt Coins in general. However it is a gamble as if the adoption happens then Ripple's value will sky rocket but that may never happen. In comparison other Alt coins generally fluctuate wildly inline with whatever direction the Bitcoin price moves.

Unless you believe that Bitcoin will eventually get more adoption to be used for purchasing goods and services then you have to treat it as purely a speculative investment. There is money to be made but there is also a larger risk profile than most other forms of investment.

A great site I have come across is http://www.coinplanet.info
I have used this to quickly compare values of coins and also stay up to date with Crypto news. It does have a fairly good guide on how to purchase Crypto coins also.

Just my 2 cents :j

le_loup

Until you are the last man standing.

lucycoin

Bitcoin has increased 600% this year! If it dives, it will go back up and maybe even sideways - Don't be scared, just hold until you want to sell. Good luck! x

TrustyOven

American-focused, but maybe of interest?

https://yro.slashdot.org/story/17/11/08/1916236/nearly-a-third-of-millennials-say-theyd-rather-own-bitcoin-than-stocks

Seems that either millenials are financially illiterate, or they have some sort of bias against Wall Street (judging by some of the comments such as https://yro.slashdot.org/comments.pl?sid=11333049&cid=55516635 and https://yro.slashdot.org/comments.pl?sid=11333049&cid=55516607).

Qubit

People talking about exit strategy do not really understand Bitcoin. The whole point is that you don't exit. One day it may well be something like a digital store of value that we all use. I believe there is a reasonable chance it may succeed, although it will face many obstacles.

For those talking about Bitcoin being backed by nothing and being worthless - what exactly do you think that note in your pockets is really worth? (other than less and less every year).

I would recommend that people educate themselves properly about the true nature of fiat currency and also what exactly Bitcoin is.

Bitcoin will indeed go down. And back up again. Who knows what it may or may not be worth in the future. I do know that futures trading is literally coming by the end of this year start of next and ETFs will likely not be far behind.