anyone bought any yet ?bitcoin
Re: bitcoin
I bought some Bitcoin, Ethereum and Litecoin back in September/October, spent about £200 in all. The values have soared since then (and come back down). I've sold off the original £100 in Bitcoin so I only have the remaining profit. Have £550 worth at the moment but that has been as high as £800 as of a few weeks ago.
It's all extremely volatile and just has a huge amount of people that are getting in to it to try and make a profit.
If you're looking to invest in it to make money, it's a huge risk. I think I got in at the right time (albeit still quite late). Bitcoin is the biggest by value but is also probably the worst one for actual use as a currency. It takes a huge amount of processing power to just put through a transaction. There have been various forks/branches of it which have been suggested which would improve it a lot but the people that have large investments and the biggest say don't want it as it'll eat away from their profits.
Ethereum, Litecoin and various other cryptocurrencies have implemented different things to get around the processing time of transactions and are gaining traction but have the same issue with people trying to profit.
About a year or 2 after bitcoin launched I started mining it on my old PC but lost my bitcoin wallet on a hard drive format. I had either 0.3 BTC or 3.0 BTC, can't remember which but at current prices that's £3100 or £31000. So I'm pretty pissed off that I've lost that.
A year or so later when it started to initially kick off I'd been talking to a friend about buying £20 a month and building up a pool of bitcoin but ended up not doing it. If we had have done it we would both be sitting on just under £1m each.
It's all extremely volatile and just has a huge amount of people that are getting in to it to try and make a profit.
If you're looking to invest in it to make money, it's a huge risk. I think I got in at the right time (albeit still quite late). Bitcoin is the biggest by value but is also probably the worst one for actual use as a currency. It takes a huge amount of processing power to just put through a transaction. There have been various forks/branches of it which have been suggested which would improve it a lot but the people that have large investments and the biggest say don't want it as it'll eat away from their profits.
Ethereum, Litecoin and various other cryptocurrencies have implemented different things to get around the processing time of transactions and are gaining traction but have the same issue with people trying to profit.
About a year or 2 after bitcoin launched I started mining it on my old PC but lost my bitcoin wallet on a hard drive format. I had either 0.3 BTC or 3.0 BTC, can't remember which but at current prices that's £3100 or £31000. So I'm pretty pissed off that I've lost that.
A year or so later when it started to initially kick off I'd been talking to a friend about buying £20 a month and building up a pool of bitcoin but ended up not doing it. If we had have done it we would both be sitting on just under £1m each.
Re: bitcoin
yeah it all seems like it was invented by someone who is expert at the markets and is probably sat on a mountain of cash now 
i may just stick my notes under the bed for now 
i may just stick my notes under the bed for now proper geezer AVE IT init
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Re: bitcoin
One thing I remember about bitcoin was Lilly Allen being asked to perform a gig over webcam for several hundred bit coin and she told them to fuck off. Turns out that if she'd took the gig and got paid the bitcoin it would have been worth a few million or something daft in today's (today being a few years back when article/interview was written) market, for a 30 minute performance.
She's not even a good artist
She's not even a good artist
"USP'd in the face from miles away Peter. You should be embarrassed." - Floodie 13/03/2012
Re: bitcoin
i did watch a vid with a expert market investor saying that buying bitcoin and sitting on it is a really risky way of making money. but some people are selling real items ... say a coffe cup for 0.50 pence if paid in bitcoin... then the buyer will sell the real item for 1 pound or more making money that way... its really stocks and shares but with something that doesn't really exist. 
proper geezer AVE IT init
Re: bitcoin
It's very much the same as the value of money being put on gold but everyone got behind gold (eventually) which led to the financial system we have now. Bitcoin and other crypto has so little support from financial institutions it's not going to be going anywhere anytime soon, if at all.
Too much of it is centred around being used for drugs etc.
I've sold all my holdings, made around £500 profit in all. Much more than I could have made from banks in the 3-4 months I held it. It was essentially the a ~350% interest rate.
Too much of it is centred around being used for drugs etc.
I've sold all my holdings, made around £500 profit in all. Much more than I could have made from banks in the 3-4 months I held it. It was essentially the a ~350% interest rate.