Bitcoins

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Comments

  • Alexland
    Alexland Posts: 9,653 Forumite
    First Anniversary Photogenic Name Dropper First Post
    This forum is about investment rather than speculation so I don't think you will find many people with positive views on crypro currencies.
  • kauto
    kauto Posts: 24 Forumite
    I'm getting a bit bored with seeing these Bitcoin threads now. This is a Savings & Investments thread and Bitcoin is a Currency (Nothing to do with saving and investing).
    I worry that people who visit this segment of the forum looking for worthwhile advice on starting a savings account or maybe drip-feeding some of their income into a index-fund long term see these threads and think Bitcoin's are a credible investment.
    Bitcoins aren't a investment!
    :money:
    "Be Fearful when's others are Greedy and Greedy only when others are Fearful"
  • Alexland
    Alexland Posts: 9,653 Forumite
    First Anniversary Photogenic Name Dropper First Post
    Unfortunatly the crypto currency adverts confuse people into thinking that they are making an investment and then they end up here.

    Its no more an investment than any other currency. Do people think they will get rich holding pound coins?
  • Moneygrabber89
    Moneygrabber89 Posts: 197 Forumite
    First Anniversary First Post
    Yeah so it's a good idea to buy bit hard to sell
  • Moneygrabber89
    Moneygrabber89 Posts: 197 Forumite
    First Anniversary First Post
    It's easy to sell on blockchain
  • sorcerer
    sorcerer Posts: 878 Forumite
    edited 11 September 2017 at 9:47AM
    I remember when gold was getting close to $2000 an oz, some people were confident that it would hit $5000, it didn't it went back to $1100.
  • sorcerer
    sorcerer Posts: 878 Forumite
    Also I used to generate my own BitCoin, so I have a pretty good idea and how everything works, and yes I sold all my coins recently, and it 2-3 weeks before I was able to sell them. Would I buy more BitCoin?, not a chance in hell.

    With any currency it's only as good as the support base for it, it won't be long before another scandle hits bitcoin and the price drops again.
  • Moneygrabber89
    Moneygrabber89 Posts: 197 Forumite
    First Anniversary First Post
    Would you not regret it if it does up to around 20k in 2 years?
  • sorcerer
    sorcerer Posts: 878 Forumite
    Moneygrabber89 wrote: »
    Would you not regret it if it does up to around 20k in 2 years?

    Nope not really, I can't tell what will happen in the future, so in the future I have no regrets of what I have done in the past.
  • sorcerer
    sorcerer Posts: 878 Forumite
    You know I didn't used to be such a cynic, but infesting in the stock market for the last 10 years, has turned me into somebody who trusts nobodies opinion, and doesn't believe anything unless their are facts to back it up.

    I have seen stock market companies fall apart, because boards lie, auditers fail to audit correctly or ignore shareholders and do what ever they want. I guess experience turns you this way.
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