Buy bit coins???

Cotta

Bitcoin is shooting up in price, I don't get all the negative attitudes to it.

Zanderman

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

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

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

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

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

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.:)

Theta101

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

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

Biggles wrote: »

Oh, and today it's down!

It's up according to my research?