bitcoin trading.

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  • hildosaver
    hildosaver Posts: 360 Forumite
    First Anniversary Name Dropper Combo Breaker First Post
    The same people not buying bitcoin today will be begging to buy some in a few years time.

    It is going to transform the entire financial system.
    I am insane and have 4 mortgages - total mortgage debt £200k. Target to zero = 10 years! (2030)
  • msallen
    msallen Posts: 1,494 Forumite
    First Anniversary Name Dropper First Post
    hildosaver wrote: »
    The same people not buying bitcoin today will be begging to buy some in a few years time..

    What a truly ludicrous statement.

    If by some freak of nature they are worth more in a few years than they are now, why would that make people who aren't suckered in by the hype now change their mind?

    If Bitcoin is still a going concern in a few years then it will have to have become a stable mainstream currency, and if that's the case there will be no point speculating in it.

    Do you honestly think the price is going to rise forever? PLEASE don't gamble any more that you can comfortably afford to lose.
  • hildosaver
    hildosaver Posts: 360 Forumite
    First Anniversary Name Dropper Combo Breaker First Post
    msallen wrote: »
    What a truly ludicrous statement.

    If by some freak of nature they are worth more in a few years than they are now, why would that make people who aren't suckered in by the hype now change their mind?

    If Bitcoin is still a going concern in a few years then it will have to have become a stable mainstream currency, and if that's the case there will be no point speculating in it.

    Do you honestly think the price is going to rise forever? PLEASE don't gamble any more that you can comfortably afford to lose.

    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.
    I am insane and have 4 mortgages - total mortgage debt £200k. Target to zero = 10 years! (2030)
  • redux
    redux Posts: 22,976 Forumite
    Name Dropper First Anniversary First Post
    hildosaver wrote: »
    The same people not buying bitcoin today will be begging to buy some in a few years time.

    It is going to transform the entire financial system.

    Yeah, if it keeps going up at this recent annual rate, in about 6 years time all the Bitcoins will be worth 1000 times more than all of the other wealth in the world

    Or maybe not.
  • hildosaver
    hildosaver Posts: 360 Forumite
    First Anniversary Name Dropper Combo Breaker First Post
    redux wrote: »
    Yeah, if it keeps going up at this recent annual rate, in about 6 years time all the Bitcoins will be worth 1000 times more than all of the other wealth in the world

    Or maybe not.

    Could end up on parity with gold - it will likely rise much higher and then plateau off.
    I am insane and have 4 mortgages - total mortgage debt £200k. Target to zero = 10 years! (2030)
  • redux
    redux Posts: 22,976 Forumite
    Name Dropper First Anniversary First Post
    hildosaver wrote: »
    Could end up on parity with gold - it will likely rise much higher and then plateau off.

    Tulips seems more likely.
  • RubyLottie
    RubyLottie Posts: 2 Newbie
    ok so there are some who like and some who don't. I'm after a bit of advice from those who do like.
    I've set up a coinbase account but my Uk bank accounts wont let me pay money into the wallet. I'm trying to do it via debit card. What tools did the UK investors use to get in on the game if the banks wont let me transfer money. It seems crazy the banks wont let me spend my money how I want to.
  • Bonnie151
    Bonnie151 Posts: 279 Forumite
    First Anniversary Combo Breaker
    Surely the fun in it is that no one knows what is going to happen?

    RubyLottie Are you trying to use your card via the website or the app? When I purchased Ethereum from Coinbase, I couldn’t get the website to work- the message indicated that the problem was with my bank. However, when I phoned my bank, they had no record of any attempts of transactions and said they were not the ones declining. I did manage to make purchases through the app without any problem.
    Hmmmm, need new siggie :cool:
  • RubyLottie
    RubyLottie Posts: 2 Newbie
    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:
  • chockydavid1983
    chockydavid1983 Posts: 713 Forumite
    First Anniversary First Post
    It may go up a lot or it may crash horrifically, no one really knows.
    I'll just continue to hold a diversified portfolio, giving the best probability of growth in the long term thanks :-).
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