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Bitcoin for beginners

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  • Jay1_2
    Jay1_2 Posts: 161 Forumite
    Part of the Furniture 100 Posts Name Dropper Photogenic
    edited 18 February at 1:22PM
    I have a question about going the other way. I have a small amount of bitcoin as a side effect of playing a game for Mistplay points. I suppose I need lots before I can convert them into £s.
    Can you give me an idea of how many I need. If I need millions before they are worth anything (especially considering conversion fees), I won't bother saving them.

    Thanks 
    Toodle-pip :hello:
  • InvesterJones
    InvesterJones Posts: 1,215 Forumite
    1,000 Posts Third Anniversary Name Dropper
    Jay1_2 said:
    I have a question about going the other way. I have a small amount of bitcoin as a side effect of playing a game for Mistplay points. I suppose I need lots before I can convert them into £s.
    Can you give me an idea of how many I need. If I need millions before they are worth anything (especially considering conversion fees), I won't bother saving them.

    Thanks 
    One bitcoin is worth around $100,000 so no, you don't need millions. But I also doubt you're getting anything close to even a single bitcoin.

  • Jay1_2
    Jay1_2 Posts: 161 Forumite
    Part of the Furniture 100 Posts Name Dropper Photogenic
    It says I've got 18, I'll have to try converting them sometime.
    Toodle-pip :hello:
  • coyrls
    coyrls Posts: 2,508 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Jay1_2 said:
    It says I've got 18, I'll have to try converting them sometime.
    I am pretty certain that you don't have 18 bitcoins (Approx $1.8m).  Maybe you have 18 Mistplay points, whatever they are.

  • Section62
    Section62 Posts: 9,700 Forumite
    1,000 Posts Fourth Anniversary Name Dropper
    Jay1_2 said:
    It says I've got 18, I'll have to try converting them sometime.
    If someone really is telling you you've got 18 Bitcoin for doing not very much then the chances are you are being scammed somehow....
  • Aretnap
    Aretnap Posts: 5,749 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    edited 18 February at 9:31PM
    Be EXTREMELY suspicious if you are told that you need to part with actual money, hand over your bank or credit card details etc, before you can claim these alleged Bitcoin.

    Also be EVEN MORE suspicious if they really are suggesting that you have earned 18 Bitcoin, rather than 18 Mistplay points or whatever. Nobody is going to pay you nearly $2 million for playing a computer game (unless perhaps you happen to be the world's most famous YouTuber or something like that, I suppose.)
  • Jay1_2
    Jay1_2 Posts: 161 Forumite
    Part of the Furniture 100 Posts Name Dropper Photogenic
    Satawatsits, bits of bitcoin. I'll try converting them when I get to 100.
    Toodle-pip :hello:
  • ricey155
    ricey155 Posts: 7 Forumite
    Eighth Anniversary First Post
    18 sats sounds correct, if BTC goes to a million plus Sats will be worth a decent amount for little work
    Hodl hard 
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