Bitcoin - is it worth a punt?

Mpowell

I think the bubble and hype has gone and you wouldn't see a return in your investment.

masonic

Mpowell wrote: »

I think the bubble and hype has gone and you wouldn't see a return in your investment.

On the contrary, it is almost guaranteed there will be a return in such a volatile investment. The only question is whether it will be positive or negative.

Malthusian

bd10 wrote: »

https://www.youtube.com/watch?v=qlZukhN_C6c

Wow, an entire hour of an economist debating with a ramper about a zero-sum game, moderated by Brillo.

I'm having fun imagining all the things I could do with an hour that aren't this.

EdGasketTheSecond

You can be right about bitcoin but still lose the lot in your electronic wallet or whatever. All seems too risky to be worth it. The price could go either way but there are risks holding bitcoin and risks getting your money back out that make the whole exercise unattractive.

iglad

never invest in anything you do not understand is my motto, which is why bitcoin remains on my 'leave well alone' list.

Sebo027

And check out the price.

December 2017 - £12,489
June 2019 - £2,599
July 2019 - £9,346

When she swings back down to circa. 2,500 I think I will throw in some money.

Snow_Dog

iglad wrote: »

never invest in anything you do not understand is my motto, which is why bitcoin remains on my 'leave well alone' list.

I pretty much understand bitcoin, mining, ledger etc. The part that stops me from investing is when anybody mentions bitcoin investing is makes me think of one thing.


Imagine walking along the street, its a bit of a wild place, theres a group of guys playing street craps, big guys, lots of muscle and scars and a couple of weasly looking fellas. You wander over, they explain their particular rules to you (this is where the bitcoin relevancy drops in).


You throw a bunch of cash in and one of the weasly looking guys picks it up and puts it in his pocket calling it "your wallet". You dont get to throw the dice, you dont even get to see the dice roll. Maybe you might win but you would be the very rare one (see zero sum game).


Then you look over to the weasly guy, but he has run off with "your wallet". Damm you think. Luckily one of the other guys says he knows where weasel lives and can get your money back, but you gonna have to pay him first......


Just what springs to my mind when people mention bitcoin, probably nothing like this at all.

Spartan_117

1.5 years after last post on this thread take a look at UK Bitcoin price today, just hit £20,000 / 1BTC (!!)

fwor

So what? £20,000 is just an arbitrary number, isn't it?

On Friday 13th March this year it was £3,163.54 / BTC but nobody came and woke up this thread to announce that.

Tragen

If you cannot tell someone what you are actually "investing" in, then I think I would consider it gambling.
Be careful which online casino you deposit with and choose your game wisely. None of them have poker tables, though.

edit: just saw the thread post date. why doesnt this forum lock threads due to inactivity?