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Views on Bitcoin or other cryptocurrency Investments

(14 Posts)
CryptoBeccit Thu 24-Aug-17 17:15:34

Hey guys, been seeing a lot on the internet about Bitcoin or other cryptocurrency Investments. Any thoughts x

JennyHolzersGhost Thu 24-Aug-17 17:19:03

Yeah great idea if you want to lose all your money in an epic facepalm. Go for it bear

Heratnumber7 Thu 24-Aug-17 17:21:39

Agree blushhmm

haba Thu 24-Aug-17 17:28:28

Yes I have some.

Noofly Thu 31-Aug-17 14:49:40

We had a short lived thread over in money matters back at the start of the summer if you want to get more views. I bought a bunch of bitcoins back when they were £10 a coin and spent this summer buying up Ethereum and litecoin so as you can tell, I'm a fan. grin

We were all accused of being snake oil salesmen over on the original thread, an accusation that I genuinely don't understand given that all of us were hodlers. grin Bitcoin may completely pop and vanish into cyberspace or it could continue to make people a whole load of money. Take your pick and don't invest more than you can afford to lose.

I'm sticking with Bitcoin/Ethereum/Litecoin but I do keep an eye on potential competitors. Once they hit a certain value I am going to sell a certain amount, but after that I'm hanging onto them for the next 9 years and then likely selling.

Noofly Thu 31-Aug-17 14:51:14

I should add that I have a very high tolerance for risk. The bulk of my money is in normal funds but I also play on the AIM market so I'm well used to wildly fluctuating prices.

Sophieelmer Fri 01-Sep-17 09:17:30

How have you bought your cryptocurrency?

Noofly Fri 01-Sep-17 12:00:14

I have it spread over three platforms because I think the biggest risk right now is a raid on a platform and my coins stolen! I have my Bitcoins held on localbitcoin.com, some of my SIPP is held in a Bitcoin tracker fund (XBT) which is done through my Hargreaves Lansdown account and my Ethereum and Litecoins and held on Coinbase.

KallyFowler7 Wed 01-Nov-17 16:23:07

It's really popular today. Cryptocurrency is becoming so strong and I also invested in it ( at robomed.io/ ). Maybe it's weird, but I got my first tokens shares and it feels so interesting, going to have some additional cash. I think that people don't need to be afraid of it.

Winebottle Wed 01-Nov-17 20:26:45

They could go up or they could go down. Its speculation not investment.

I'm not the best person to ask. I sold 5btc for £2000 a year or two ago.

Hereward1332 Thu 02-Nov-17 13:14:10

As an investment - a terrible idea. For short term speculation - not too bad.

At some point the bubble will burst. Like the tech bubble this isn't a new paradigm but traditional irrational exuberance. Different cryptos will come on to the market, one will go pop, confidence disappear, and prices crash. No idea when - it might double in value before that, but it is not a sensible long term investment.

Noofly Fri 03-Nov-17 20:41:16

I’m still holding onto mine. grin

BonnieF Fri 03-Nov-17 20:52:19

Bitcoin is a classic bubble. 21st century tulips.

By all means take a punt if you fancy it. But, whatever you do, don't bet invest money unless you can afford to lose the lot.

endofthelinefinally Fri 03-Nov-17 20:57:17

I am really pleased with my investments.
I always cash out my original investment once it has doubled. Then anything more is a bonus.

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