Bitcoin

Prestwickboy2

Hi can you make money from bitcoin or is it a scam?

Username999

Do it right then yes you can.
No it's not a scam, but there are many scams related to it out there.

EdGasketTheSecond

You can make money and lose money. There aren't conventional yardstick to measure it by so for me it's hard to value and I would not get involved. As a trading vehicle, I see no difference to trying to trade fx, in the end a zero sum game less commission.

Malkytheheed

Can Crypto posts be banned from this forum please?

chamelion

Prestwickboy2 said:

Hi can you make money from bitcoin or is it a scam?

Based on the level of analysis I'm guessing you've done based on your post, I'd avoid bitcoin. Spend at least a month reading up on it, reading up on what to expect, what not to, risk levels, alternative coins etc. Treat it like an investment, nobody just goes to the stock market and buys random shares without carrying some level of due diligence. 

chamelion

Malkytheheed said:

Can Crypto posts be banned from this forum please?

Why?

Malkytheheed

chamelion said:

 Treat it like an investment,

No, don't treat bitcoin like an investment. Bitcoin is gambling. No more, no less. 

An investment carries some form on knowledge about future likely trends. Bitcoin has no product roadmap, no CEO, no industry drivers. No inherent value behind it. Nothing. No lighthouses of what may happen. It is just a gamble. 

Malkytheheed

chamelion said:

Malkytheheed said:

Can Crypto posts be banned from this forum please?

Why?

Because, as above, Bitcoin is not "savings" or "investments" 

BananaRepublic

Malkytheheed said:

chamelion said:

 Treat it like an investment,

No, don't treat bitcoin like an investment. Bitcoin is gambling. No more, no less. 

An investment carries some form on knowledge about future likely trends. Bitcoin has no product roadmap, no CEO, no industry drivers. No inherent value behind it. Nothing. No lighthouses of what may happen. It is just a gamble. 

Exactly. Realistically noone has a clue where it is going.

gowzerneo

There are a lot of fake bitcoin success stories floating around on the internet, like the one where Gordon Ramsay claims he earned $13.5 million in one year with bitcoins.  He even revealed how he did this to Phillip Schofield and Holly Willoughby on This Morning.  The article is 100% fake but you'd be surprised how many people believe it is true and fall for it.

shaun_from_Africa

BananaRepublic said:

Exactly. Realistically noone has a clue where it is going.

What makes you think he knows?