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?

DH stopped mining some years back when energy costs outweighed their value (then).

I lost £150 yesterday. I panicked that the decline was going to continue so sold low (at £11300) to get out of it - almost immediately afterwards it shot back up to £12k and today, £13k. Gutted!!! I managed to make £50 back last night but I'm still £100 down in my profits now.

Bitcoin is an awful investment vehicle if you’re emotionally attached to the money you’re gambling.

I want to buy an a class with mine, that would avoid cgt if someone accepts it as payment right?

Mine lost 75% of their value at times, and are now worth over 2500% what I paid.

Just to add I know loads of people that sold at $200 for a couple of grand and were very happy with that.

There are rumours that the price could reach £20k by the end of the year, which will price a lot of people out of the market. I'm trying to buy now but it's difficult, I keep getting outbid.

Or they could go back to £200 quid. Needs to go up another 20 fold before I will sell.

Sanchin I really dont understand what you are doing. I am sorry you lost money.

Sanshin. Sorry I got your name wrong.

I brought some last week perfectly easily there was no one bidding against me, I don't understand what your doing either sanshin as a first timer with dh help.
You can buy £10 worth of bitcoin if you want and you never sell or panic just because it looks like the price may go down a bit.

So, if I wanted to put in say £20 for a bit of fun, how would I do that? Is there a fee to buy some? And then how would I cash out?

Please could someone explain very simply

Sanshin There’s no need to be bidding (also not sure what platform you are using to need to bid?). Just buy your BTC on an established exchange and then hold unti you are happy with your profit. Or if you really want to trade, use a trading site- no bidding needed.

we used coin base it seems to be the bona fida popular one, the tricky part was ID but was fine, it was 3 quid I think to buy some.

I'm using CEX, I don't know if any other way and dare nor ask DH because he's getting cross at me for constantly misunderstanding

I brought 100 of litecoin and it's gone up 70 since last week.

Shocked face.

Oh, platforms like CEX are way beyond my capabilities. I’m much better at buying and holding.

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...

seekingalpha.com/article/4129251-btl-group-first-mover-blockchain-technology?v=1512409945&comments=show

Interesting sal. I total agree to its the stuff behind it that's of most interest but how do you you buy shares in it!

I wonder if I’ve missed the boat on LTC. Bought in for a few quid. Haven’t lost anything yet! But I’m not looking to get a pension out of this either- as my OP said, its dabble

Christmas🎄 the simplest way is to download an exchange app eg coinbase. You will have to verify & supply means of payment (not hard) and you can also add a bank account to take funds out (in fact you have to do so to withdraw- like Paypal)
Then you can buy/hold/sell

But can you do this to invest in the tech behind it?

Zevitevitchofcrimas, I use an online broker called Hargreaves Lansdown but most high street banks would probably be able to offer the service.

Sorry to get really basic but I contact then and say I want ti invest in the above they should know what I am talking about and set it up for me!?

I invested £1000 a couple of years ago out of interest. I'm loving watching it rise and fall but mainly love to see it rise! I'm looking at it as fun but also an investment. I can luckily afford to lose the money if it all goes wrong. My wallet stands at £25,500. My son looks after it for me

Wow Eliza! That's amazing!!