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(19 Posts)
phdangst Wed 08-Nov-17 17:23:17

Does anyone have any experience buying bitcoin? Can you share any advice?

pamelastone Thu 09-Nov-17 19:35:20

While I am still in the process of learning about it, I have not brought a bitcoin as such. My understanding is that Bitcoin is a currency like GBP and USD but a virtual one. There are plenty of organizations from where you can trade. But be sure about the rules and regulations in UK before trading. Am really looking forward to buy bitcoin when I am a little rich. Why I say this is that the value of bitcoin as of today is about $5000+. So, it requires a bit of investment to buy.

BBSK Tue 21-Nov-17 13:40:41

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uplink Wed 22-Nov-17 21:32:43

Direct investment in bitcoin is a very high risk even via Bitcoin Investment Trust/ BIT-XBT.

Worth looking at the underlying fintech behind bitcoin as expect similar technology to be applied/ adapted across the finance sector.

Noofly Wed 22-Nov-17 21:56:43

I think it’s even more risky holding via XBT (well, ignoring the risk of a raid on your bitcoin exchange) because you also need to weigh the risk of the ETN plus potential liquidity issues if you cash in. And I say this as a XBT holder via my SIPP as well as being a direct holder. grin

Ruthelisabeth Tue 05-Dec-17 11:33:51

My editor invested £1,000 in bitcoin last week, here's how he got on, if it's useful to any of you:

Sanshin Fri 08-Dec-17 14:40:01

I put £500 onto bitcoin last month and cashed out yesterday with £1300 which is obviously amazing. Trouble is I then invested it back in last night and bought £1300 worth at £13k value. Today they've dropped to £11k so I can either cash out now at a big loss or I can leave it in and hope it rises back up. Yesterday was an example of how well it can go as well as how easy it is to cock up.

PersianCatLady Fri 08-Dec-17 14:42:36

You do know that bitcoin can be divided.

From your post it sounded as if you think you need $11000 to buy bitcoin as you have to buy a whole bitcoin.

It doesn't work like that.

PersianCatLady Fri 08-Dec-17 14:44:06

Sorry i meant $5000 not $11000

Currently 1 BTC is around £10,000 but I haven't checked today.

Sanshin Fri 08-Dec-17 20:04:44

£11k today. I own 0.1006 of a bit coin 😂 £1300's worth

PersianCatLady Fri 08-Dec-17 20:21:01

I make it £1,100 worth not £1,300 worth

Sal1976 Mon 11-Dec-17 20:46:38

Alternatively, you could buy shares in a company that offers exposure to the crypto-/blockchain (the technology behind digital currencies) market. This is a copy + paste from a shares message board for London listed VELA Technologies (LSE:VELA) who invest in a portfolio of global crypto-blockchain companies. Their shareprice (up nearly 20% today!) seems to replicate the rising value of bitcoin, but without the hassle and risk of owning digital currency yourself......

Hi Presto, I think it's quiet because the vast majority of investors are completely unaware of just how transformational blockchain will become for global business. And anyone invested here can give themselves a not entirely unmerited pat on the back for getting involved before VELA captures the imagination of the market.

There are remarkable parallels with clean energy resource sector stocks, prior to the paradigm shift towards electric vehicles. In 2013 for example, the sp of REM languished for several months AFTER the signing of a JV with BCN to prove up it's Sonora lithium deposit. Only a few posts were made on their message-board each week, and one of those was 'Riddler' telling the few people reading that it was all a big con. Then in August the price soared from 0.04p to 2.40p in a matter of weeks. The only catalyst was a brief mention in the Daily Mail financial section and some Zak Mir charting analysis. The market had almost overnight cottoned on to the fact that EV's and their component battery materials would revolutionise automated transport for decades to come.

Whatever strategy an investor pursues, there is none more profitable than being ahead of the curve. Events are currently unfolding which I believe will be regarded in future as the 'tipping point' for when digital currency entered the financial mainstream. This week it will become possible for institutional investors to trade Bitcoin futures for the 1st time on Cboe and CFE. However while this pivotal moment for crypto grabs the headlines worldwide, it is the market disruptive technology behind this advance that will change every aspect of global business and handsomely profit astute investors who have identified this.

Very few AIM companies currently offer exposure to the rapid advances that are taking place right NOW. A significant stake in BTL and B2 will ensure that VELA's stock is high on the list of those that investors are scrambling to get hold of before the onset of second information technology boom.

It is no surprise that BTL Group is compared to early stage Microsoft and Tesla in the article below, and a replication of REM's 2013 share price movement is not beyond the realms of possibility for VELA...

BusinessMum1 Sat 16-Dec-17 19:37:04

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BusinessMum1 Sat 16-Dec-17 19:37:38

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Viviennemary Wed 24-Jan-18 10:54:13

Bitcoin is a complete scam. Yes a few people have made money. But a lot of people have made a loss. It's hovering now ready for a big crash IMHO. Certainly down to half the value that it went up to. Money in and money out. Losers money in gainers money out. Same money.

CabernetSauvignyoni Wed 24-Jan-18 11:18:01

Viviennemary in what way do you consider bitcoin to be a scam?

OP if you're thinking about cryptocurrency make sure do a lot of research first. Don't just dive in because you think it's a quick way to make money. You really need to establish whether to the right type of investment for you, so start off with some reading or listening so you understand what it actually is, why the market is going up and down, and what the future might hold. The UnChained podcast is pretty good at explaining bitcoin/ethereum/other blockchain tech to non-techy folk as a starting point.

Viviennemary Wed 24-Jan-18 11:32:11

I explained on another thread why I think it's a scam. But briefly. It's a pyramid scheme. There will be no more money going out than is coming in. If every MN put £10 into a kitty. That would be quite a bit of money. So some took out £10K. Some might even take out £100K. Very few can do this. So nearly everyone else loses out. No more money will come out than goes in. Unlike a profit making business. It's a total scam.

CabernetSauvignyoni Wed 24-Jan-18 14:05:34

Yeah...ok. I've seen your other posts and it's pretty clear you're wedded to your perspective even though you admitted you don't know much about it at all and have no interest in learning. It also makes sense why you posted on an old thread. But in the interests of not derailing on the off chance OP returns I'm not going to argue with you,

No one is denying there is a bubble right now. Hence the suggestion that OP makes sure she actually understands what she she's doing. Bitcoin is being used as an investment vehicle when fundamentally that's not what it is so yes, at some point it will correct properly and people will lose out. But if you're gambling on any market then that will happen.

Ultimately blockchain technology isn't going anywhere. Op, when you're doing your research take a look at ethereum too. Whatever you choose to do, good luck!

Viviennemary Wed 24-Jan-18 17:40:39

So give us the pros and cons of 'investing' in Bitcoin. Is todays price a good price to buy at. For other posters' benefits. Because they should get a balanced view. I have been reading a bit more about it and haven't changed my opinion.

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