# Bit Coins



## STEALTH K3 (Dec 29, 2006)

Is anyone into Bit coins was talking about them at work is it too late to buy them now has the boat been missed, where is the best site to buy them from and sell them.


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## pez (Jun 7, 2014)

there still used mainly on the deep web, but some shops have started to except them there a map that shows these shops I'll find the link later. I was looking into bitcoin mining a few weeks ago but I don't have the right computer set up to make any money from it. I didn't look into trading but the price of bitcoin is still going up so its not to late.


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## weedougall78 (Nov 4, 2017)

Not sure how it all works tbh. Didn't the news say they are up to like $11000 for one?

My sister bought a small percentage of 1 Bitcoin some months ago and it's now worth about £600 more than she paid.

I'm considering it but my knowledge of how currency trading works is virtually zero. There's other E-currencies available at much lower prices but, again, a little knowledge can be a dangerous thing.

Good luck with it if you do though.


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## bense556 (Mar 14, 2017)

Bitcoin, like anything else will continue to rise whilst people are still being introduced to the idea. Mining them yourself just isn't profitable anymore for the average Joe, most become part of syndicates etc that get a % of the bitcoin they mine dependant on how much they contributed to the process. Whether it is worth buying into, only you can really decide that - would you be happy with buying today and circa £11K, to find it drops tomorrow to even £9K? I think, for the average person the ship has sailed on bitcoin, however the other crypto currencies could be worth a look at (Electroneum, Ethereum etc.)


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## m500dpp (Feb 17, 2006)

Bitcoin price will only continue to rise if enough people keep coming in at the bottom. A big driver now is "FOMO" fear of missing out, my mates are making money so should I. For me I just don't see how a "currency" that has absolutely no intrinsic value can keep rising in price, it has no substance. Then again in the 1630's Dutch people were trading their houses for a tulip bulb, google Tulip mania or have a look at this short video:






Personally I think it will at some point crash.


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## davies20 (Feb 22, 2009)

I think like folk have said the ship has sailed.

I feel if you buy now it will simply be another tulip bubble over again! (Didn't read the above post before posting my reply!)

I'm not saying crypto currency isn't going to take off, it will, however I think it will be replaced with something more easily accessible & user friendly for mass market - bitcoin has simply just brought the idea to the masses, which is no bad thing I guess.


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## slim_boy_fat (Jun 23, 2006)

m500dpp said:


> Bitcoin price will only continue to rise if enough people keep coming in at the bottom. A big driver now is "FOMO" fear of missing out, my mates are making money so should I. For me I just don't see how a "currency" that has absolutely no intrinsic value can keep rising in price, it has no substance. Then again in the 1630's Dutch people were trading their houses for a tulip bulb, google Tulip mania or have a look at this short video:
> 
> Tulip Mania | 3 Minute History - YouTube
> 
> Personally I think it will at some point crash.


Beat me to posting that - highly speculative, and I predict many will get their fingers burned and lose all their 'investment'


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## DrEskimo (Jan 7, 2016)

I dont know much about investing, but I am looking into starting in the new year.

What I've read is that there are some basic rules you should follow to ensure you don't invest you money into something high risk:

Diversification
Good track record
Good understanding of what you are investing in
Do it over long periods of time

Anyone looking to invest in single companies with a volatile history, knowing little about it and looking for high value, short term gains are basically gambling as I understand it...?


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## m500dpp (Feb 17, 2006)

> What I've read is that there are some basic rules you should follow to ensure you don't invest you money into something high risk:
> 
> Diversification
> Good track record
> ...


Good approach! Have a look at funds also, UK and Global, easier to get a good spread. I hold Lindsell Train, Fundsmith, Newton Global, stewart Asia Pacific leaders. For individual companies, I hold Shell, BP, GSK (bad performer recently) Merchants Trust (in essence a fund with many top names in) Vodafone and Lloyds. All these pay 5% + dividends, so even GSK that has lost 21% this year is still in profit with the Divis I have taken. If you find a loser like GSK just sit tight, if it's a decent company the price will recover.I hold Immupharma (130% gain this year ) and AFC energy (20%) up both higher risk so limited exposure. My overall return over 3 years is 9.4%, my investments have safety in mind, it's my retirement fund!

The above is not investment advice but I hope looking at some of those will give you a start. Open a virtual portfolio now with someone like Hargreaves Lansdowne and use that to gain experience without putting money in for the time being.


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## Kerr (Mar 27, 2012)

I just can't get my head around why Bitcoins are worth so much money. 

It seems a risky investment to me.


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## bense556 (Mar 14, 2017)

Bitcoin is worth so much, because it can be used and not tracked. There is no way that any payments can be tracked through the scramble that are transactions and wallets. This is what makes it attractive to criminals and users of the Dark Web for nefarious purposes. As with normal shares, small sales and purchases increase the price, and large offloading will decrease the price considerably. The bird really has flown the nest on this - if it was still profitable to mine then I would say go for it. The fact it isn't, and the increasing price, has put me right off.


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## fatdazza (Dec 29, 2010)

Kerr said:


> I just can't get my head around why Bitcoins are worth so much money.
> 
> It seems a risky investment to me.


The price is determined by supply and demand. Supply is linited, demand is high due to speculation. Like anything it is worth what people are willing to pay.

If people lose faith in it then its value will plummet.

The notes in your wallet are only worth something as people will accept them fof goods. Money is really a confidence trick, and once confidence in the money is lost then it becomes worthless.

The boom in bitcoin looks like a bubble, but it might not be, those that guess the bubble right do well.........


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## 91davidw (May 6, 2006)

Best explanation of Bitcoin !!! lol




__ https://www.facebook.com/video.php?v=1608782372695356



Cheers 
David


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## uberbmw (Jan 31, 2006)

missed the boat....then again it still rising


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## wayne451 (Aug 15, 2016)

I'd not touch Bitcoin. A mate of mine was trying to get me in to it and it's getting battered by rampers. I get all sorts of rubbish through on email about it.

You could certainly make money on it. However it's a 'scalper' for me, quick in and out, whilst the muppets jump on it thinking it's the latest 'get rich quick' scheme.

The nack to investing is being before the curve/herd hits. If you try to get on the back of it, you may as well try jumping on to a moving train - you MAY get to your desired destination but you could equally end up severely burnt and in a right mess.

Second mover advantage. Bitcoin is the name people know but Ethereum is the one the large corps are backing.

Bit like Bebo/Faceparty years ago. Nothing now, it's all about Facebook.


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## RedUntilDead (Feb 10, 2009)

Bitcoin is still the main player, it’s massive and well known.
Value and transaction fees are making it prohibitive to noobs so cheaper, alternative coins are becoming popular.


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## DrEskimo (Jan 7, 2016)

m500dpp said:


> Good approach! Have a look at funds also, UK and Global, easier to get a good spread. I hold Lindsell Train, Fundsmith, Newton Global, stewart Asia Pacific leaders. For individual companies, I hold Shell, BP, GSK (bad performer recently) Merchants Trust (in essence a fund with many top names in) Vodafone and Lloyds. All these pay 5% + dividends, so even GSK that has lost 21% this year is still in profit with the Divis I have taken. If you find a loser like GSK just sit tight, if it's a decent company the price will recover.I hold Immupharma (130% gain this year ) and AFC energy (20%) up both higher risk so limited exposure. My overall return over 3 years is 9.4%, my investments have safety in mind, it's my retirement fund!
> 
> The above is not investment advice but I hope looking at some of those will give you a start. Open a virtual portfolio now with someone like Hargreaves Lansdowne and use that to gain experience without putting money in for the time being.


Really sorry I missed this post!

Thank you for the advice. You'll be happy to hear that I opened an account with H&L last months and started a largely passive investment strategy with funds in a S&S ISA.

My plan is just to drip feed each month and rebalance over the years as I need to (basically tone down my risk as I get older). Bulk of my investment is just in the Vanguard LS 60% to keep it simple. Supplemented this with some index tracker funds to increase exposure to emerging markets and smaller companies, but nothing complicated.

Still learning a lot so taking it slow  My aim is to just try and make sure my savings beat inflation. If they do better, that would be great! Will be at it for a good 10yrs, if not longer.

Im fortunate that I am in a defined benefit pension, but also thinking about additional contributions for the tax relief (I am a higher tax rate payer so it seems very beneficial). Whether I do that through my employer investment builder pension scheme, of open a SIPP I haven't decided yet. Through my employer seems most sensible as they match 1%. Only small, but 1% more than I would get form a SIPP!

So...a belated thank you :thumb:

Back OT....sorry Bit Coin is still not for me...

Tempted to just put a bit of money in to see what happens, but I'm not a gambling man (/cant be arsed to set up more accounts...), so probably wont bother.

Best of luck to those that are....as long as you are aware of the risks then not much else you can do really!


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## Tembaco (Jun 28, 2014)

I olso bought them recently. This onw right?


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