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Bitcoin- buy now?


eddoakley
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18 minutes ago, la bala said:

Have you looked at Ripple

Nope.

To be honest it's far from being my kind of thing but there's a lot of talk and hype about it at the moment and I've been having a bit of a read.

Know someone who bought a small amount which is now a worthwhile sum and had a customer today telling me that their relatively modest investment 4 years ago is now a fortune. Putting together a few things he said it's north of £500k

To late to be in that position but still worth looking at?

 

EDD 

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2 minutes ago, eddoakley said:

Nope.

To be honest it's far from being my kind of thing but there's a lot of talk and hype about it at the moment and I've been having a bit of a read.

Know someone who bought a small amount which is now a worthwhile sum and had a customer today telling me that their relatively modest investment 4 years ago is now a fortune. Putting together a few things he said it's north of £500k

To late to be in that position but still worth looking at?

 

EDD 

There is certainly a lot of dosh being piled into this cyber money, hope your punt pays off.

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1 minute ago, la bala said:

There is certainly a lot of dosh being piled into this cyber money, hope your punt pays off.

Not something I would ever have thought about, cash is still king as far as I'm concerned but i suppose i had better catch up at some point.

Can't put much into it but from what some are saying it would be a bigger mistake not to get into it now than it would to invest.

 

Edd

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9 minutes ago, eddoakley said:

Not something I would ever have thought about, cash is still king as far as I'm concerned but i suppose i had better catch up at some point.

Can't put much into it but from what some are saying it would be a bigger mistake not to get into it now than it would to invest.

 

Edd

Have a look at the criptocurrency post in off topic. A little story of my grandsons punt.

 

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1 hour ago, matone said:

Like all gambles,only put in what you can afford to throw away.

Yeah that's what I would be doing.

But I have also considered the worst possible outcome and the likelihood of that.

Worst possible? Complete crash and failure of Bitcoin. 

Likelihood? Very small indeed.

Am I likely to make the incredible profits that are reported now? No. But is there a fair chance that either I would make small gains or still the possibility of huge increases? Yes 

1 Bitcoin today is just about £10k and from what I read there is talk of it reaching or even passing £100k by the end of 2018. Now that would be incredible but with what's happened so far then it's certainly possible, the sky's the limit really.

Like I said it's not something I would usually consider but having talked about and read about it and gained a very basic knowledge of blockchain then I can see the possibiities and would like to get in when I can.

So, who has bought recently?

 

Edd

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23 minutes ago, eddoakley said:

Yeah that's what I would be doing.

But I have also considered the worst possible outcome and the likelihood of that.

Worst possible? Complete crash and failure of Bitcoin. 

Likelihood? Very small indeed.

Am I likely to make the incredible profits that are reported now? No. But is there a fair chance that either I would make small gains or still the possibility of huge increases? Yes 

1 Bitcoin today is just about £10k and from what I read there is talk of it reaching or even passing £100k by the end of 2018. Now that would be incredible but with what's happened so far then it's certainly possible, the sky's the limit really.

Like I said it's not something I would usually consider but having talked about and read about it and gained a very basic knowledge of blockchain then I can see the possibiities and would like to get in when I can.

So, who has bought recently?

 

Edd

Anything is possible !!!!!

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Ask yourself this, are you educationed and experienced enough to recognise when it’s going to have the next dip or crash and get out before it? 

If you don’t care about losing the money might be worth a punt. 

What do you want to get back? 

Move had 8%+ in the last 6 months on stocks and shares ISA. 

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7 hours ago, Lloyd90 said:

Ask yourself this, are you educationed and experienced enough to recognise when it’s going to have the next dip or crash and get out before it? 

If you don’t care about losing the money might be worth a punt. 

What do you want to get back? 

Move had 8%+ in the last 6 months on stocks and shares ISA. 

What's Move?

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I've never considered myself stupid - right up until looking at this cryptocurrency malarkey. How hard can they make buying something? It's like it's written in a foreign language with virtual wallets to put your virtual money in. Guess I'll have to buy premium bonds instead. :lol:

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14 minutes ago, sitsinhedges said:

What fund is that?

British Land - just checked it says at the current price what I put in it is up 10%. 

Obviously it has ups and downs though. 

Ive got another one that was up 8% a month ago, the last few weeks was down 5% - presents back up 1%. 

Only had my ISA 6 months - will have to see how I’m doing after 12 months. 

14 minutes ago, walshie said:

I've never considered myself stupid - right up until looking at this cryptocurrency malarkey. How hard can they make buying something? It's like it's written in a foreign language with virtual wallets to put your virtual money in. Guess I'll have to buy premium bonds instead. 

I spoke to my cousin who’s very tech savvy - he writes the code for big tv companies all around the world. 

He said when asked whether to buy some

No... 3 reasons. 1. The  buying process is ridiculous. 2. The amount you'd have to spend to make any money now would make it super risky. 3. We do not have a time machine to go back to 2017 or earlier to buy some! 

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Bitcoins value is caused by strong demand and limited supply - and I believe the supply is 'capped' at 21,000 - so far about 18 or 19,000 have been 'mined' I believe.  No one can predict the future, but the demand is especially hard to predict because there is quite a lot of hype boosting it - and the possibility of things like government legislation/restriction - and big names adopting it will have negative and positive effects ........ and there are several other similar 'currencies' coming along.

I can't answer the exam question, but it is a very high risk - and carries possible very high rewards.  It my age, that is not my style, so it isn't for me.

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It only needs the Yanks to make having bitcoin a financial crime of some sorts, and (bearing in mind they don’t like stuff they can’t control or own) then that’s the end of that. 

It’s all total speculative nonsense and reminds me of punting penny shares back in the 80’s.

The thing is this, with everyone constantly talking about the bloke who bought one for £2 and made a trillion quid, or the bloke who has £20 worth and bought 3 pizzas but who now would have £10 gazillion, it fuels all the speculative demand. Without anything behind it, when it goes pop it’s going to go in the most spectacular way.

I think Warren Buffet said ‘if I can’t understand it, I don’t touch it’.

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28 minutes ago, Bigbob said:

Watched a bit on the tv about it , it says if you dont understand it stay well clear its only worth x amount if folk are prepared to jump on the band wagon  and buy it , and its a scammers delight 

I also read this - it said Bitcoin doesn’t produce anything in regard of income - no dividends etc - so it’s only value is what someone else is willing to buy it for. 

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