Buying BitCoin on the dip

EdGasketTheSecond

It's attraction is/was anonymity for nefarious activities. Governments have it in their sights now to remove that anonymity and track all transactions so that would take the attraction away. Other than an interesting mathematical equation, where does that leave bitcoin?

puk999

Rheumatoid wrote: »

Learnt (?learned) my lesson buying in to Marconi and Somerfield on a 'dip' :rotfl:

I got limbs severed by the falling sword of Carillion

Qubit

I love coming by to skim-read the Bitcoin threads. :rotfl:

ossie48

There's a bitcoin forum somewhere and I recall a thread a few years back asking where all the bitcoin millionaires were.The suggestion was that many of very early investors cut and run at $10 .

planteria

no doubt many did. a guy that runs a cafe near our office had about £1500 in bitcoin. he used it to buy a fridge and an oven at their new house.. a couple of weeks back he realised it would have been worth enough to buy the house outright.

EdGasketTheSecond wrote: »

It's attraction is/was anonymity for nefarious activities. Governments have it in their sights now to remove that anonymity and track all transactions so that would take the attraction away. Other than an interesting mathematical equation, where does that leave bitcoin?

very good question. in fact, perhaps the Key question. if governments try to get control of Bitcoin and fail to do so it will be set to really fly.

Reaper

planteria wrote: »

if governments try to get control of Bitcoin and fail to do so it will be set to really fly.

It is not practical for any government to "take control" of bitcoin. What a government could do is set up their own version with reduced anonymity but I don't think they are keen to do that. They prefer the traditional currencies.

BananaRepublic

Qubit wrote: »

I love coming by to skim-read the Bitcoin threads. :rotfl:

I believe that is known as rubber necking and it is a major cause of accidents. Be careful.

Bravepants

About 12 months ago I bought £25 of Bitcoin and £25 of Ethereum. I've about quadrupled my money! So I'm on cloud nine!

I'm a long term holder and once bitcoin hits £1,000,000 I'll be able to buy that new car I've always promised myself!

(Edit: No, wait hang on, that's just dream I had!)

ruperts

ossie48 wrote: »

There's a bitcoin forum somewhere and I recall a thread a few years back asking where all the bitcoin millionaires were.The suggestion was that many of very early investors cut and run at $10 .

Of course. If your investment has gone up by 100% in a few days most people will take at least some of the money. When it goes up by another 100% they would take a bit more. Very few people will have been able to avoid that temptation in order to realise the full gains.

Those few that did stay the course, well the cynic in me suspects there’s a reason why they don’t want any publicity.

DairyQueen

Did anyone buy tulip bulbs on the dip?