Bitcoin

[Computer125]

I am looking into buying bitcoin but am new to it. Anyone had experience of buying and selling and where is best to buy? Thanks

Unfortunately I think your way too late to the party?!

You could use your profits to fit a bolt to the stable door.

I think it's too late. I have a very young relative who made a fortune from it years ago, enough to put down a deposit on a house when all his friends were scrimping and saving to rent a room in a shared house. But honestly I think the ship sailed long ago.

I bought back in 2017, used blockchain.com

I understand people’s view that it’s a bit late, and I think anyone investing in Bitcoin should be aware of how risky it is, but if the predictions are correct, it should still keep going up.

I invested £2000 and as of today, I have £14000 in the blockchain wallet.

I recently bought some, it’s gone up quite a bit this week. I’m not a big investor though and use an app called Revolut which is really easy to use. I’d recommend it if you’re thinking of a anything up to a few hundred.

Did you all have to give passport details?.
. I'd look at other crypto...

I had small part of one coin!. It made about 300 ages ago...

Im only looking to invest around £200 to start off with. How much can i make with that on revoult?

I invested £2000 and as of today, I have £14000 in the blockchain wallet

If you wanted to withdraw that money today, do you know how to and is it actually achievable.

I'm not seriously considering money in there, although could spare a few hundred to gamble, but what puts me off is the fact that there's a lot of stories of scams where the money you put in gets stolen, but also that people can't get the money out if they want to.

Barbara I put money in a few years ago and doubled it but had a very stressful wait for it to be released

You would be buying a teeny fraction of a bit coin why not look at other crypto

Unless you are a v. techy type, I wouldn't touch it with a barge pole. People who don't know what they're doing with it get ripped off left, right and centre. Bitcoin = scammers' delight.

Would never buy Bitcoin. What do you think is traded using cryptocurrency? All the really nasty illegal stuff no one wants tracking.

yeah @KeepWashingThoseHands, dodgy stuff like Tesla cars. bitcoin is going to not only take the lunch money from the US$, the UK£ and the other fiat currencies, it's going to eat their lunch too.

Even at today's prices it's worth taking a punt on, but only if you can afford to lose in the short term. Long term I expect it to rise.

For disclosure, I bought £100 worth of bitcoin in 2016, 0.207 btc. At the current rate that is over £7k.

Elon Musk has recently invested $1.5Bn in bitcoin, it has been endorsed by Morgan Stanley and Blackrock, and is being championed by Alasdair Macleod of Gold Money and Mitch Feierstein of Planet Ponzi to name two.

bitcoin, or something like it, a decentralised P2P cryptocurrency, is the future of money. Unlike your bank account, the contents of your crypto wallet are not confiscatable, it remains yours and requires no middle man to trade with others. Just don't lose your private key. Oh, I'd avoid storing it on an online exchange, they tend to get 'hacked'.

If you study accountancy these days, it includes cryptocurrency so I don't think it's just drug dealers and people traffickers.

Just bear in mind that although many companies are perfectly legitimate and you can (could??) make a great investment from crypto currency, the whole sector is completely unregulated and not answerable to any of the usual trading regulations

There’s a recent money box podcast on cryptocurrency that I found useful

DH was a crypto trader for a while, he won't put any of his own money in it and in fact the PE firm he worked for, stopped trading it, because it was so difficult to get the funds back - and they spent months working out which exchanges to trade on before they added it to the portfolio.

I believe crypto to be the way the world is moving, but there is a potential to lose a lot of money if you just jump in. Like anything, if you want to do it, you need to take the time to learn. Don't just listen to random advice from strangers on the internet telling you to buy currency x or y.

Take the time to learn about it. Choose your exchanges wisely. Monitor patterns. LEARN THE TAX IMPLICATIONS (That bit is really important, because you WILL be taxed on it). Decide whether you want to invest in bitcoin or other crypto. Decide if this is a long term investment, or whether you want to do regular trades. Do not underestimate the amount of effort you will need to put in if you are going to do this seriously.

To be the future of money it will need some stability.

At the moment people are seeing it purely as an investment because of the incredible gains (also some incredible losses). No one wants to do anything mundane like spend it on goods or services as the £x worth of Bitcoin you spend today might be worth half as much again next week (like the opposite of hyperinflation I guess, instead of your money becoming worthless it just seems to keep gaining in value!)

I bought a couple of hundred quid’s worth a while back and at one point that was worth almost £1,000. I don’t intend to sell, it feels like a curiosity that is worth hanging on to - but that rather proves the point above, it isn’t much use as money at the moment if all people want to do is hoard it!

Tesla trades on Bitcoin? I thought Elon Musk has invested some of his personal fortune - thats pretty different.

It might be the future, scary what the world sees as valuable when it’s completely unregulated and used for money laundering, human and drug trafficking, arms dealing etc. so let’s enable all that with no traceability. And the benefit is...you can’t get hacked? What problem is is solving beyond that. Genuine question.

Tesla trades on Bitcoin?

Apologies for being obtuse. Tesla announced, to great media fanfare, that they spent £1.5Bn on bitcoin and intend to allow their products to be paid for in the cryptocurrency. It was reported by BBC, CNBC, Bloomberg, Aljazeera, France24, Keiser Report, Techcrunch, Thisismoney and others.

It might be the future, scary what the world sees as valuable when it’s completely unregulated and used for money laundering, human and drug trafficking, arms dealing etc. so let’s enable all that with no traceability. And the benefit is...you can’t get hacked? What problem is is solving beyond that. Genuine question

Each of the crimes you list have been commited using the Dollar and Sterling, predominently, by large banks, and they were fined. The only man to be caught doing the same using bitcoin is serving a life sentence. The difference being,I suppose, is the banks were regulated.

And yes, bitcoin is anonymous, but every single transaction right back to the Genesis block mined by Satoshi Nakomoto back in 2009 is on the public ledger. As for what good is it that bitcoin is secure, what good is a currency that can be devalued on the whim of a tiny number of people? Genuine question.

www.fca.org.uk/consumers/cryptoassets
please read
& like all gambling you are just as likely to loose

finance.yahoo.com/news/bitcoin-elon-musk-loses-worlds-180506519.html

Get a kraken account and those who are saying it's too late have no idea what they are taking about it was £22k at start of jan and went to £40k on 21st Feb so you would of double investment had you bought in

I'm a bit annoyed as I sold about £9000 worth at the start of January, should of just waited a bit longer

You can buy any amount also so even had you bought £500 you couldn't of made it too £1000 in 30 days

It's falling again at the moment I would hold off till under £20k

They predict it could be as high as £300k in next year or two

Also I'm not sure why people are people are saying it hard to get money back

In a Kraken it takes 5 days from trading it to euro to getting gbp in your bank account

Have any of you offering advice actually done any trading recently.??

Also if you want drug dealing dodgy Cryptocurrency you would be looking at Monero XMR not Bitcoin

Bitcoin is a world wide currency now.