Bitcoins

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  • Bajjo
    Bajjo Posts: 390 Forumite
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    JohnRo wrote: »
    I'm struggling to see what relevance facebook has with bitcoin though. Beyond both being electronic they are in many ways an exact opposite.
    That quote sounds more like a dodgy sales pitch for his own company.
    He's not comparing Facebook to Bitcoin. He's comparing digital currencies to startup businesses as investment opportunities. The point is digital currencies provide an early stage investment opportunity which is open to anyone whereas most startups, like Facebook, do not.

    Facebook was founded in 2004 but it was not investable to the average joe until 2012 when it went public and was already a $100 billion company.
    Bitcoin. If you haven't heard of it, you have now.
  • Malthusian
    Malthusian Posts: 10,938 Forumite
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    Bitcoin is not an "early stage" anything. Its founders took the money and ran two and a half years ago. It's very much "late stage".

    As for the idea of investing in Dogecoin or some other less popular currency in the hope it will take off in the way Bitcoin did, fine. The trouble is predicting, as with Facebook, which is going to be the successful one. At the point Facebook began receiving VC investment there were a dozen social networks being launched every week in Silicon Valley (probably an understatement), the vast majority of which sank without trace or any return to investors.

    Srinivasan's proclamation that the ordinary punter now has the ability to lose his shirt on digital currencies that the VCs did on social networks is not particularly exciting to me. The VCs who lost millions on wannabe Facebooks could at least console themselves with the knowledge that they still had millions left in the bank.
  • Bajjo
    Bajjo Posts: 390 Forumite
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    Malthusian wrote: »
    Its founders took the money and ran two and a half years ago.

    :rotfl::rotfl:
    Malthusian wrote: »
    Bitcoin is not an "early stage" anything. It's very much "late stage".

    It's all very subjective but it seems to me Bitcoin is still early stage in many ways.
    Bitcoin. If you haven't heard of it, you have now.
  • JohnRo
    JohnRo Posts: 2,887 Forumite
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    It is. Just ignore the hysterics.
    'We don't need to be smarter than the rest; we need to be more disciplined than the rest.' - WB
  • Bajjo
    Bajjo Posts: 390 Forumite
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    Bitcoin broke £500 again this month, which hasn't happened since the crazy run up in Nov/Dec 2013.

    nd5xz5.jpg
    Bitcoin. If you haven't heard of it, you have now.
  • MJ12
    MJ12 Posts: 86 Forumite
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    Yea well some of it is down to how weak gbp is to USD, some of it.
    2nd Aug, 15: £276k. 18th Sep, 15: £269k. 30th Oct, 15: £265k.
  • andrewthomas2008
    andrewthomas2008 Posts: 164 Forumite
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    I'm kicking myself I didn't in bitcoin a few years ago when I first heard about it.
    It makes me sick, I could have been well off, now I'm only stuck with a bitcoin I bought earlier this year and cash savings in low paying interests rates.

    Who has made bucket loads from bitcoins?

    It's actually depressing
    Girlie Girl
  • $nake_eye$
    $nake_eye$ Posts: 411 Forumite
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    Certainly not made bucketloads, but bought when 1BTC=$290USD. I've kinda left them alone on my Trezor. I may sell a couple if it gets back to $700
  • andrewthomas2008
    andrewthomas2008 Posts: 164 Forumite
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    Well at least you bought at a fairly decent price, I bought just before the halving e ent so I'm roughly breaking even.

    I guess I'll have to do the same as you and hope I make some decent returns.
    Girlie Girl
  • $nake_eye$
    $nake_eye$ Posts: 411 Forumite
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    Just curious.. have you spent any Bitcoin? Maybe on OpenBazaar or any other location? I must admit ive only bought a coffee in Singapore, and a VPN service
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