bitcoin trading.

4_Pete's_Sake

Whether it be a speculative Share or Bitcoin, when the herd arrive, sensible people take advantage of the spike that this causes and realise their profits. This year the herd have arrived at Bitcoin and the herd are in the main young gamblers who only see a "Get rich quick" scheme. The wise will get out with their profits, the foolish will hold and make big losses. Those who got spiked at $19.5K look like making some very big losses.

adindas

ivormonee wrote: »

I don't really get bitcoin. It's difficult to buy and sell, or so it seems; you need to set up some sort of online wallet account or a special hard drive, you need to keep a record of the security keys, there are large spreads, and its apparent value drops and rises by as much as 20% in a single day. Also, most shops don't seem to accept it as a form of payment. I'm baffled by its meteoric rise in price and popularity.

If you want to learn how to buy BTC you could start reading it from here:
http://uk.businessinsider.com/how-to-buy-bitcoin-using-coinbase-2017-2/#i-happen-to-be-one-of-the-many-who-have-never-traded-bitcoin-before-theres-a-certain-level-of-wariness-in-buying-into-the-cryptocurrency-world-3

and here
https://www.buybitcoinworldwide.com/

There are various type of wallets available:
https://www.buybitcoinworldwide.com/wallets/

But many people recommend to use Hardware wallets such as
Ledger Nano S (LNS), Trezor, KeepKey, etc
The cheapest one is Ledger Nano S
https://www.buybitcoinworldwide.com/wallets/#hardware-wallets

Here is the explanatin of LNS
https://www.buybitcoinworldwide.com/wallets/ledger-nano-s/

ivormonee wrote: »

My router seems to be made of plastic. I don't think I've ever come across one made of onions. Is that the sort of thing you can buy with bitcoins?

You can not buy something which does not exist. So nope, you can not buy router made of onions.

But you will never know, someday you might be able to buy metallic router using BTC in many shops.

BananaRepublic

onomatopoeia99 wrote: »

Why have you quoted my post and started talking about tor and the dark web? I haven't said anything about either of those things, nor do I use them, though I am generally supportive of the principle of onion routers. However, decentralised privacy against snooping by our political masters and their lackeys at GCHQ is not a subject for the savings section of the board.

You talking to me?

My comments were relevant because you can’t realistically use this stuff as currency, the vast majority of buyers being speculators. The only people who need to use it are dark web users. As to GCHQ, that’s just paranoid nonsense.

Incidentally most Bitcoin buyers are said to be in the Far East where it is booming as a way to invest money.

adindas

BananaRepublic wrote: »

You talking to me?
My comments were relevant because you can’t realistically use this stuff as currency, the vast majority of buyers being speculators. The only people who need to use it are dark web users.

Digital currency like BTC can’t be realistically used like like a normal currency but their acceptance rate is increasing. You will never know what will happen in the next few decades. The demand is not just coming just from speculators because there is always demand coming from darkweb, money launderers. This currency fit for their purpose which can not be replaced by traditional currency.

Also currently over 100,000 merchants have accepted it.

https://www.cnbc.com/2017/12/07/heres-how-you-can-and-cant-spend-bitcoin.html

"Over 100,000 merchants worldwide accept bitcoin. Notable ones include Microsoft and Expedia, as well as the online electronics retailer Newegg.

Considering that bitcoin is a digital currency, it's more rare for actual stores to accept it as a payment method. But, as CoinDesk points out, some business are beginning to, such as REEDS Jewelers, which has over 60 retail locations in eastern U.S."

4_Pete's_Sake

It is probably helpful to view the 1 year chart showing Bitcoin's value. You can do this as https://www.coindesk.com/price/ or on many other sites. Viewing the 1 year chart helps to appreciate the extent of the recent spike in Bitcoin's value.

planteria

and arguably illustrates that Bitcoin is 'good value' now [helmet on]:D.

4_Pete's_Sake

Bitcoin now appears to be stagnating as other Cryptocurrencies are being explored. Ethereum now seems to be the one with a rocket under it. Does anyone here actually invest in either of these?
Price now of the 2 currencies:
Bitcoin - $14168
Ethereum - $1406
Therefore Bitcoin is currently worth 10 times more than Ethereum. I've no idea what their values will be at the end of this year but I'm sure the Bitcoin will not be as much as 10 times the value of Etherium, perhaps more like 5 times???

Bonnie151

4_Pete's_Sake wrote: »

Bitcoin now appears to be stagnating as other Cryptocurrencies are being explored. Ethereum now seems to be the one with a rocket under it. Does anyone here actually invest in either of these?

I own (I refuse to call it investing) Bitcoin, Ethereum, Litecoin and a bit of Doge.

ivormonee

4_Pete's_Sake wrote: »

Bitcoin - $14168
Ethereum - $1406
Therefore Bitcoin is currently worth 10 times more than Ethereum.

I don't think worth (or value) can be measured by looking at the price of an individual item, such as a coin in this case. If there are twenty times more Etherium in circulation then that would make it twice as valuable as Bitcoin - you need to, as a starting point, look at the market capitalisation of the two coins to begin making a like-for-like comparison.

The actual market caps on these are: Bitcoin $241t and Etherium $138t, so Bitcoin is valued at nearly twice as much as Etherium using this metric.

Then there are other factors such as how many coins can be "mined" and indeed the business related information of the two coins.

planteria

4_Pete's_Sake wrote: »

Price now of the 2 currencies:
Bitcoin - $14168
Ethereum - $1406

i was looking to buy some Ethereum and couldn't get set up quickly enough.. they were c$685 then, and i had a plan in mind:(