bitcoin trading.
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RubyLottie wrote: »that's exactly what's happening. I will try through the app. I could have made some small gains today if only it had let me invest.:mad:
Hi the app should work with your debit card details. UK bank accounts only work if they accept SEPA transactions (and will charge you for it).I am insane and have 4 mortgages - total mortgage debt £200k. Target to zero = 10 years! (2030)0 -
hildosaver wrote: »It has a very good chance of becoming a global currency - perhaps THE global currency in the future. It is both a store of value and a method of exchange. The fact it is a scarce resource will, through supply and demand, suggest that the value will continue to rise in the long term. Will the price only go up? Against FIAT currencies probably yes in the long term. There will be a lot of big dips throughout but it will settle down eventually but at a much higher value.
Both a store of value AND a method of exchange! Wow, no wonder you think so highly of it. If only that combination of benefits was available elsewhere eh!
If it becomes THE global currency, what will it's price be rising against?
If it becomes THE global currency why will people be begging to buy some? Surely they would be getting paid in it?0 -
If it becomes THE global currency, what will it's price be rising against?
If the bitcoin global currency continuously rises in price all other assets must be getting cheaper in bitcoin terms. Everything we want to buy will continuously fall in price. Having worked for only a few years we will all be able to retire and live off the rising value of our savings.0 -
catoutthebag wrote: »Investing is not too different from betting... you're taking a punt that X amount will yield a profit at a particular timeframe...it may not though
Investing in the traditional sense is entirely different to gambling as its a zero sum game (i.e. you either win or lose). If you invest in a diversified basket of funds then it is unlikely you will ever lose everything and over the long term, the balance of probability suggests you will be in profit.
With reference to bitcoin, people aren't "investing" but speculating and if and when a crash comes then some people are going to be massively burned.
From a personal level I still don't see what is driving the value, nor what is holding it up. Hacking of the exchanges also seems to be a serious concern.0 -
From a personal level I still don't see what is driving the value, nor what is holding it up. Hacking of the exchanges also seems to be a serious concern.
which is sensible.. at the same time, no doubt people are making a lot of money from this speculation, and some are turning, or will turn, the profits into assets in which you would see value.
i'm not on board, but my desire for more ammo to invest with leads me to wish i already was:D.0 -
Hi all,
As a MSE user for many years whose never posted thought I'd share my experience of Bitcoin from the last few months as its been more profitable than my money saving attempts and matched betting combined.
I initially bought some Bitcoin on coinbase and it has now more than doubled in value. I then tried a few investments with the profit as there are many out there that claim to make massive returns. I have now found one that I trust as I have used it for over a month and made 15% and have had no withdrawals issues, other than fees.
I am happy to be messaged if people have any questions about crytocurrencies either how to buy or how to invest and help guide them. Please note I am only using matched betting profits in the cryptocurrencies market due to the massive volatility and potential risk.0 -
What happens to bitcoins when the owner dies? How does someone inherit a fortune in bitcoins?0
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What happens to bitcoins when the owner dies? How does someone inherit a fortune in bitcoins?
The easiest way as things stand is to provide access after death by prior arrangement to transfer the wallet, making private keys available to the intended recipient.
Third party involvement is another option, though that comes with obvious risks.
Another option is the implementation of smart contract features embedded in Etherium (as one example) which can be used to address succession planning as one of a great many other things, either by interoperability with bitcoin or in a future iteration of BTC itself where smart contract features are enabled.
https://bitcoinmagazine.com/articles/yes-bitcoin-can-do-smart-contracts-and-particl-demonstrates-how/'We don't need to be smarter than the rest; we need to be more disciplined than the rest.' - WB0 -
What happens to bitcoins when the owner dies? How does someone inherit a fortune in bitcoins?
They need the password, otherwise the bitcoins are lost forever. Quite a lot have been lost when for example a PC crashes and the password was stored in a file on the now useless disk.
This poses real problems for the tax authorities as it's very hard to trace so in principle it's a way to avoid inheritance tax etc. However, given that it is so volatile, no-one but a fool would use it as a long term investment ...0 -
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