| Anyone here got bitcoins? 12:36 - Nov 6 with 8316 views | BlueStreak |
I know I may have missed the boat but thinking about investing. Don't even know where to start though. |  | | |  |
| Anyone here got bitcoins? on 12:39 - Nov 6 with 7848 views | BlueBadger |
Apparently they've been endorsed by Harry Redknapp. So there's no need to worry if it's legit. |  |
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| Anyone here got bitcoins? on 12:48 - Nov 6 with 7825 views | BlueinBrum |
| Anyone here got bitcoins? on 12:39 - Nov 6 by BlueBadger |
Apparently they've been endorsed by Harry Redknapp. So there's no need to worry if it's legit. |
To be fair he's endorsing a rival (and to my understanding) inferior cryptocurrency, not Bitcoin itself.
I have tried to get my head around the cryptocurrency market over the past few months (though i still have a long way to go) - my current assessment is that I believe the block chain technology that underpins Bitcoin genuinely does have the potential to revolutionise a number of industries.
As for Bitcoin itself, I understand that is has some fundamental virtues which position it over other cryptocurrencies, but ultimately it could also be usurped by a superior coin in the future.
Ultimately, i'm a cautious investor and subscribe to the Buffet rule of "if you don't fully understand something, don't invest in it" and therefore have not bought any Bitcoin. That said, If i already had a more advanced portfolio than i do, i may have been more tempted to chuck a bit in. [Post edited 6 Nov 2017 12:49]
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| Anyone here got bitcoins? on 12:50 - Nov 6 with 7808 views | Reuser_is_God |
A lot of the big Football Index investors I know have been getting involved in the past month or so - possibly one of the reasons why it's gone up so much. |  |
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| Anyone here got bitcoins? on 12:52 - Nov 6 with 7788 views | Jamma |
Chuck some cash at Vertcoin before Bitcoin forks on the 14th November. |  | | |
| Anyone here got bitcoins? on 12:54 - Nov 6 with 7786 views | yorkshireblue |
Not personally, but on my pod of desks I'm the only one who hasn't got at least some money in it and other cryptocurrencies- to varying degrees and they talk about it constantly. If you have any specific questions I could ask them? |  | | |
| Anyone here got bitcoins? on 13:27 - Nov 6 with 7715 views | BlueBadger |
| Anyone here got bitcoins? on 12:50 - Nov 6 by Reuser_is_God |
A lot of the big Football Index investors I know have been getting involved in the past month or so - possibly one of the reasons why it's gone up so much. |
You'd think they'd have learnt that anything touched by Harry Redknapp is likely to cost them millions rather than make them millions by now. | |
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| Anyone here got bitcoins? on 13:30 - Nov 6 with 7703 views | blue_oyster |
When will the bubble burst? I invested in a tracker, which is very easy and you don't have to fiddle about pretending you've got a 'virtual' wallet with nothing really in it. |  |
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| Anyone here got bitcoins? on 13:34 - Nov 6 with 7689 views | Big_Jase |
I had four Bitcoins when they were roughly £70 each when I was at Uni. I sold them for the same price I bought them for as I was using them to purchase items online and I no longer had the need for them. If I had of kept them they would now be worth the best part of 20 grand... |  |
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| Anyone here got bitcoins? on 13:38 - Nov 6 with 7669 views | BOjK |
I almost mined some at the beginning, but decided against it on the grounds that it seemed massively unfair to distribute a currency in this way (not least because so much value would accrue to the original creator and his friends).
Anyway, I'd definitely have sold out well before now, if I hadn't lost the money due to a hardware failure on my hard disk, or having kept them in Mt Gox (an online store which was hacked and all the contents nicked).
I'd still view it as massively risky, but with a huge potential upside. If it takes off then there's still huge growth potential, but equally you could lose almost the lot.
I'd be inclined to view it more like a bet with the bookies. You might have a 1 in 3 chance of increasing your money by a factor of 10. But equally you might have a 2 in 3 change of losing the lot (in this case I'm assuming the risks favour you, rather than the bookie). |  |
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| Anyone here got bitcoins? on 14:08 - Nov 6 with 7605 views | factual_blue |
Please remember that the value of your dodgy internet-based investment can go down as well as down. |  |
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| Anyone here got bitcoins? on 14:37 - Nov 6 with 7523 views | BanksterDebtSlave |
You seem to have answered your own question on the forum thread listing page ! |  |
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| Anyone here got bitcoins? on 14:46 - Nov 6 with 7496 views | connorscontract |
It's a classic bubble. Even in this thread people use the classic bubble language of regret: "If I'd done this I'd have this now".
Some people have made a lot of money. They will be telling themselves they are clever but really they are just lucky.
Bitcoin gains are taxable. Full stop. But how many Bitcoin gamblers in this thread employ an accountant and have made provision to pay tax on their gains?
Bitcoin is the currency of the internet underworld. It is not regulated by the FCA. You can't ask for your deposit back if it goes belly up. Exchanges have been hacked before and will be hacked again.
When enough of the wealth of organised crime syndicates is invested in Bitcoin, do you not think the FBI will move against it? There is already talk of the Chinese Government preparing to take action.
Bitcoin, for all these reasons, is a gamble, not an investment.
A few months ago in another thread someone said "Put 100 quid in, if it halves or even blows up completely, then you've not lost much. If it goes up 10 times then you've won." That's the approach that is sensible. Put in a small amount you can afford to lose and set an upper limit where you will definitely take profits and sell. And then never, never regret taking a profit because "If I'd have done this then I'd have made that."
And ask your accountant how you will pay Capital Gains Tax on your profit. | | | |
| Anyone here got bitcoins? on 14:49 - Nov 6 with 7493 views | factual_blue |
I'm surprised an antler-bedecked entrepreneur hasn't offered an investment vehicle called Moosecoin or Sprucebits........ | |
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| Anyone here got bitcoins? on 15:16 - Nov 6 with 7431 views | newbie |
I have some as well as Ethereum and Neo. Unfortunately I got in during the summer and I do think maybe the boat has gone to making life changing sums. It does not seem to matter how much research you do or who you listen to as in reality not even the experts no what will happen in the future.
I first read about bitcoin in 2010 and just $100 investment would see me on over $5 Million now....oh well s**t happens!
One thing I would advise is if you do buy some to save the blood pressure just buy and do not look at the graphs for 5 years and see where you are then :-) | | | |
| Anyone here got bitcoins? on 15:26 - Nov 6 with 7410 views | solemio |
Are they South Sea bitcoins? | | | |
| Anyone here got bitcoins? on 15:28 - Nov 6 with 7401 views | connorscontract |
| Anyone here got bitcoins? on 15:26 - Nov 6 by solemio |
Are they South Sea bitcoins? |
*pop* | | | |
| Anyone here got bitcoins? on 15:43 - Nov 6 with 7358 views | homer_123 |
Of course, they are only worth shed loads if you can convert them back into a relevant currency - whilst it's getting to a point where you can 'spend' bitcoins. Useless unless you can get your money out.... |  |
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| Anyone here got bitcoins? on 19:01 - Nov 6 with 7203 views | bournemouthblue |
| Anyone here got bitcoins? on 12:48 - Nov 6 by BlueinBrum |
To be fair he's endorsing a rival (and to my understanding) inferior cryptocurrency, not Bitcoin itself.
I have tried to get my head around the cryptocurrency market over the past few months (though i still have a long way to go) - my current assessment is that I believe the block chain technology that underpins Bitcoin genuinely does have the potential to revolutionise a number of industries.
As for Bitcoin itself, I understand that is has some fundamental virtues which position it over other cryptocurrencies, but ultimately it could also be usurped by a superior coin in the future.
Ultimately, i'm a cautious investor and subscribe to the Buffet rule of "if you don't fully understand something, don't invest in it" and therefore have not bought any Bitcoin. That said, If i already had a more advanced portfolio than i do, i may have been more tempted to chuck a bit in. [Post edited 6 Nov 2017 12:49]
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Electroneum - A British based one which is just about to launch |  |
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| Anyone here got bitcoins? on 13:02 - Nov 8 with 6969 views | StokieBlue |
| Anyone here got bitcoins? on 12:52 - Nov 6 by Jamma |
Chuck some cash at Vertcoin before Bitcoin forks on the 14th November. |
Why would you do that?
All that would be is speculating on the vertcoin price and you won't get any forked coins created via segwit 2x.
SB |  |
| Avatar - IC410 - Tadpoles Nebula |
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| Anyone here got bitcoins? on 13:14 - Nov 8 with 6954 views | StokieBlue |
| Anyone here got bitcoins? on 14:46 - Nov 6 by connorscontract |
It's a classic bubble. Even in this thread people use the classic bubble language of regret: "If I'd done this I'd have this now".
Some people have made a lot of money. They will be telling themselves they are clever but really they are just lucky.
Bitcoin gains are taxable. Full stop. But how many Bitcoin gamblers in this thread employ an accountant and have made provision to pay tax on their gains?
Bitcoin is the currency of the internet underworld. It is not regulated by the FCA. You can't ask for your deposit back if it goes belly up. Exchanges have been hacked before and will be hacked again.
When enough of the wealth of organised crime syndicates is invested in Bitcoin, do you not think the FBI will move against it? There is already talk of the Chinese Government preparing to take action.
Bitcoin, for all these reasons, is a gamble, not an investment.
A few months ago in another thread someone said "Put 100 quid in, if it halves or even blows up completely, then you've not lost much. If it goes up 10 times then you've won." That's the approach that is sensible. Put in a small amount you can afford to lose and set an upper limit where you will definitely take profits and sell. And then never, never regret taking a profit because "If I'd have done this then I'd have made that."
And ask your accountant how you will pay Capital Gains Tax on your profit. |
"It's a classic bubble. Even in this thread people use the classic bubble language of regret: "If I'd done this I'd have this now".
Some people have made a lot of money. They will be telling themselves they are clever but really they are just lucky. "
Definitely some luck involved but there is finite supply of coins and thus as more people want them the price tends upwards, it's supply and demand. It's certainly looking a bubble-like at the moment but there could still be upside as the Chicago Merchantile Exchange is about to start trading futures contracts on Bitcoin ( http://www.abc.net.au/news/2017-11-07/bitcoin-is-going-mainstream/9125364).
"Bitcoin gains are taxable. Full stop. But how many Bitcoin gamblers in this thread employ an accountant and have made provision to pay tax on their gains? "
Agreed, capital gains tax is payable on profit. Most won't pay this I am sure.
"Bitcoin is the currency of the internet underworld. It is not regulated by the FCA. You can't ask for your deposit back if it goes belly up. Exchanges have been hacked before and will be hacked again. "
Some truth in this although to say it's all the underworld is a few years out of date. Criminals will of course use bitcoin but they will also use big wads of US dollars. Things have moved on a bit from 2013 but widespread adoption is still miles off. Exchanges can of course be hacked much as banks can or any institution which holds your credit card details (how many times has that happened in the last few years?).
"When enough of the wealth of organised crime syndicates is invested in Bitcoin, do you not think the FBI will move against it? There is already talk of the Chinese Government preparing to take action. "
The Chinese have closed exchanges but not for the reasons you are saying, they want to control monetary flight from the country and have limits on the maximum amount people can send externally each year. Bitcoin is not in line with this type of policy. The price went down when the Chinese closed some exchanges but has more than doubled since then which is certainly pretty bubble-like.
"Bitcoin, for all these reasons, is a gamble, not an investment. "
Definitely a lot of truth in this statement, you shouldn't risk anything you are not willing to use. It also depends what you are doing, if you are holding it then certainly not. If you are playing around on exchanges you can get out fairly quickly with stop-losses.
"A few months ago in another thread someone said "Put 100 quid in, if it halves or even blows up completely, then you've not lost much. If it goes up 10 times then you've won." That's the approach that is sensible. Put in a small amount you can afford to lose and set an upper limit where you will definitely take profits and sell. And then never, never regret taking a profit because "If I'd have done this then I'd have made that."
And ask your accountant how you will pay Capital Gains Tax on your profit."
This is very good advice which I agree with wholeheartedly. Never risk what you cannot afford to lose - sensible in regards to any gamble or investment.
SB [Post edited 8 Nov 2017 13:15]
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| Avatar - IC410 - Tadpoles Nebula |
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| Anyone here got bitcoins? on 07:59 - Nov 9 with 6818 views | Jamma |
| Anyone here got bitcoins? on 13:02 - Nov 8 by StokieBlue |
Why would you do that?
All that would be is speculating on the vertcoin price and you won't get any forked coins created via segwit 2x.
SB |
Although the fork has been suspended, so prices have gone for alt coins.
In the previous forks, what normally happens is the alt coins have dipped in the few weeks prior to the fork. If you have the cash this normally a good time to invest as will be at a low point of the alt coin.
In this case vertcoin was recently up to £4+, money has been flowing out of vert into bitcoin. Yes speculation on it going back up, but semi educated.
Bitcoin has gone up pre fork making a little % increase, but following a fork and the 'free money' being released it tends to flood back into alt coins.
After the fork most exchanges are holding the original and forked coins and stopping most trades.
The fork is unclear and in this case one of the coins could have failed/been replaced with prices for both dropping off pretty quickly.
Basically more money can be made on the cheaper alt coins going up than the 'free' coins from the fork and % increase of Bitcoin. | | | |
| Anyone here got bitcoins? on 09:07 - Nov 9 with 6777 views | BanksterDebtSlave |
| Anyone here got bitcoins? on 07:59 - Nov 9 by Jamma |
Although the fork has been suspended, so prices have gone for alt coins.
In the previous forks, what normally happens is the alt coins have dipped in the few weeks prior to the fork. If you have the cash this normally a good time to invest as will be at a low point of the alt coin.
In this case vertcoin was recently up to £4+, money has been flowing out of vert into bitcoin. Yes speculation on it going back up, but semi educated.
Bitcoin has gone up pre fork making a little % increase, but following a fork and the 'free money' being released it tends to flood back into alt coins.
After the fork most exchanges are holding the original and forked coins and stopping most trades.
The fork is unclear and in this case one of the coins could have failed/been replaced with prices for both dropping off pretty quickly.
Basically more money can be made on the cheaper alt coins going up than the 'free' coins from the fork and % increase of Bitcoin. |
Forking bitcoins ? | |
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| Anyone here got bitcoins? on 09:19 - Nov 9 with 6765 views | StokieBlue |
Yes.
It just means that if there is an update to the code, if there isn't a consensus on which code base to use then two coins are created. The support for the coins with regards to mining determines which is the real "bitcoin" although that can be argued many ways.
No fork this time, was suspended last night as there is nowhere near a consensus.
So it's literally like a fork in the road with coins following different paths from that point.
SB | |
| Avatar - IC410 - Tadpoles Nebula |
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