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Buy bit coins???

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Comments

  • Cotta
    Cotta Posts: 3,667 Forumite
    Bitcoin is shooting up in price, I don't get all the negative attitudes to it.
  • Zanderman
    Zanderman Posts: 5,008 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    Cotta wrote: »
    Bitcoin is shooting up in price, I don't get all the negative attitudes to it.

    A few days ago you said
    Cotta wrote: »
    No sooner do I say that Bitcoins were stabilising only to find out they've dropped a further £200, I honestly don't get it.

    At least you're consistent with the 'don't get it'!
  • ValiantSon
    ValiantSon Posts: 2,586 Forumite
    Cotta wrote: »
    Bitcoin is shooting up in price, I don't get all the negative attitudes to it.

    Really? Don't you?

    Perhaps you should pay some attention to how it goes up and down like a yo-yo. It is extremely volatile and has the potential to completely collapse, leaving you with nothing, or simply stabilise around a much lower price than many have bought at.

    It is displaying all the classic signs of being a speculative bubble.When the bubble bursts, Bitcoin will almost certainly revert back to the mean and there will be a lot of unhappy, disgruntled and poor [STRIKE]saps[/STRIKE] people.
  • Cotta
    Cotta Posts: 3,667 Forumite
    Zanderman wrote: »
    A few days ago you said


    At least you're consistent with the 'don't get it'!

    Sorry it was said with tongue is cheek, Bitcoin is too volatile for me.
  • ValiantSon
    ValiantSon Posts: 2,586 Forumite
    Cotta wrote: »
    Sorry it was said with tongue is cheek, Bitcoin is too volatile for me.

    Thanks for clarifying. Perhaps a ";)" would make it clearer.
  • Cotta
    Cotta Posts: 3,667 Forumite
    ValiantSon wrote: »
    Thanks for clarifying. Perhaps a ";)" would make it clearer.

    Rushing on my phone at the time, although I was intrigued that the value has increased by almost £1k in just three days, however I have heard of very few who have actually sold Bit Coin.
  • robin58
    robin58 Posts: 2,802 Forumite
    My Mum always said "a fool and his money are easily parted".

    Met a few fools with no money over the years. ;)

    Just waiting to meet my first Bit coin fool.:)
    The more I live, the more I learn.
    The more I learn, the more I grow.
    The more I grow, the more I see.
    The more I see, the more I know.
    The more I know, the more I see,
    How little I know.!! ;)
  • Theta101
    Theta101 Posts: 140 Forumite
    however I have heard of very few who have actually sold Bit Coin.

    The daily trade volume of Bitcoin is well over 2 Billion USD worldwide, so plenty of Sells going through.
    And 10% price change in a day is not unusual.
    The banks and hedge funds are firmly in control now.

    Plenty of institutions/traders bought at $20,000 and can be profitable by averaging down/hedging.
    Yes many people will probably lose money from inexperience just like people on these threads probably lost money on many of the failed Blue Chip stocks in recent years.
  • Biggles
    Biggles Posts: 8,209 Forumite
    1,000 Posts Combo Breaker
    Cotta wrote: »
    Bitcoin is shooting up in price, I don't get all the negative attitudes to it.
    Oh, and today it's down!
  • Cotta
    Cotta Posts: 3,667 Forumite
    Biggles wrote: »
    Oh, and today it's down!

    It's up according to my research?
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