To ask if anyone dabbles with bitcoin?

[MollyWantsACracker]

Disclaimer: I am totally clueless

I bought a few euro worth today, just for fun really

Anyone else?

Not sure if someone has posted this already... http://grist.org/article/bitcoin-could-cost-us-our-clean-energy-future/]]

Waves at noofly (we'd been having a thread-for-two on Bitcoin over on the Money section). Ether's holding on there I think, it's my Ripple that have flatlined since the day I bought them back in the summer.

With regard to mining's energy costs, I hope that a way is found to mitigate that, but it's totally out of my area of expertise, which largely involves listening to a friend in 2014/15 when he told me that cryptocurrency was an interesting thing to explore and put a very small sum on (if I could afford to lose it). I now have equal (very small) amounts of Bitcoin, Bitcoin Cash and Ether and it's still extraordinarily interesting to me. There is a big dividing line between BCash believers and the Bitcoin legaceers. The former think Bitcoin Cash is massively undervalued. Me, I have no idea but am very happy to HODL.

I have withdrawn my £50 i put into coinbase yesterday but how do i get it back into my bank account? I have a debit card registered but its talking about sepa transfers and its bamboozling me

ItsNachoCheese I think you need to put it in your Euro wallet and they will do a bank transfer from there. You can’t go directly to GBP with Coinbase.

I've opened a Revolut bank account where it's free to do Sepa transfers and you can also exchange your money into Euros.

They've also starting to let you buy btc from today but you can't put it in another wallet etc yet.

All for my measly £50 I put in yesterday 😂

17k just now.

Wish BitCoin cash had kept up the same trend. That'd be our mortgage sorted ....

I don't understand it, but my younger cousin makes a very good living out of it - he's forever flying around the world to talk about it to people.

I can't decide if it's here to stay or if it's a pyramid where a few will do really well!

I think bitcoin has its place - DH has sunk all our money into it so I'm praying it comes off!

I put £500 in mine last month and now have £1300 in there so it certainly works. Last night however I bought bitcoin for £13k and today it's worth £11k so it doesn't always come out on a positive.

I think it is close to tipping point.
I would not buy now. I would cash some out and hold the rest.

The forecast would disagree with you there, it's tipped to double in value by mid January to £30k

That is why I have cashed out some and am holding the rest. I am more than happy with the profit I have made, so if it goes up I will be delighted, if it doesnt I wont have lost.
I am a little bit worried about a rush to cash out in case the exchanges cant cope and freeze. Then the value will drop.

I know I'm really nervous about it, I must admit. It shot up like wild fire last week, a bit like a balloon being over filled. DH assures me it will be fine so I'm having to trust him (with ALL our money!!)

There’s no such thing as a reliable “forecast” for crypto currencies. Anything could happen. It could be £30k by mid January or it could be £300! People should do what makes them comfortable with their own personal risk levels.

All the hype is driving the price up, but absolutely, it could keep rising or crash tomorrow.

Sanshin I don’t want to sound horrible, but all of this is one big giant gamble. It’s in no manner shape or form an investment. I hope it comes off well for you, but it’s not the sort of thing you put more into than you can afford to lose.

I agree. Nobody should put in more than they can afford to lose.

I know, it's a huge gamble but we've made over £2k in a month on it so far (between us, not each) so you can see why it's addictive!

So theoretically speaking, if we lose £2k tomorrow we've only lost profit, nothing we actually started with.

I wouldn't be happy with that level of risk sanshin. I think bitcoin could continue to rise in value (with some 'corrections' along the way), but if it crashes, and the smart money moves onto another cryptocurrency, it'll do so spectacularly.

On a lighter note though, a young relative told me today that, a few years ago, a teen friend was on the quest for a fake ID and the seller wanted paying in bitcoin. After buying the fake ID, there was some bitcoin left over and the teen left it in a bitcoin wallet. Currently, this 17/18-year-old currently has a nest egg of around £20,000 (and, presumably, a fake ID), which is not a bad way to start student life. But of course, it could all decline to nothing.

Sanshin if it plummets tomorrow surely you will lose?
If I were that student I would take £10k out now.
I know a couple of people who bought at 7 dollars a coin.

Sorry, I've misunderstood. I assumed your original money was still tied up in it. If you have already cashed in your original purchase and are now just playing with profits, then good luck.

marking place. this fascinates me.

Oh. Ok. Sorry Sanshin, I thought the same as Noofly.