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?

I sold the bitcoin and lite coin I purchased mid december, i spent 200 + a few pounds in fees.

I had a very fiddly thing to go through to verify account etc to sell, I am hoping to get my money back soon. expecting about 340 pounds back....not bad! About 140 profit.

When I am more flush I may buy lite coin again and ripple...to hold onto and maybe some others.

What a frightening article, MN ! I have to admit, one of my worries is that DH and I are knocked down by a bus and DS won’t be able to work out my complicated system to find everything he needs to access my coins.

Looks like we’re having a nice little breakout just now. I’ll be happy if we can reach £12,500 and stabilise there for a bit. Am very happy with my Ethereum right now as well.

But how hard is it to take a photo of the piece of paper before you head out the door though? I know that's not advised but really - you can always email it to yourself and delete it, or print it out.

My IRL Bitcoin-enthusiast friend has a section in his will, nominating a friend who will know how to access his coins. I'm tempted to add a note to mine along the same lines. I know, Ether is on a nice steady trajectory at the moment that is very pleasing.

This NYT article on Ripple bears out your concerns and I found it food for thought. I'll be happy if it sustains its current value. www.nytimes.com/2018/01/04/technology/bitcoin-ripple.html?_r=0 - I'd

BITCOIN Pyramid

A lot of monkeys lived near a village.🐒🐒🐒🐒🐒🐒🐒

One day a merchant came to the village to buy these monkeys!🐵🐵🐵🐵🐵🐵

He announced that he will buy the monkeys @ $100 each. 🐵💵

The villagers thought that this man is mad.😇

They thought how can somebody buy stray monkeys at $100 each?🤔

Still, some people caught some monkeys and sold them to this merchant and
he gave $100 for each monkey. 😬

This news spread like wildfire and people caught monkeys and sold them to
the merchant.😬

After a few days, the merchant announced that he will buy monkeys @ $200
each. 🐵💵💵

The lazy villagers all ran around to catch the remaining monkeys!🐒🐒🐒🐒🐒🐒

They sold the remaining monkeys @ $200 each.😋

Then the merchant announced that he will buy monkeys @ 500 each!
😮💵💵💵💵💵

The villagers start to lose sleep! ... They caught six or seven monkeys,
which was all that was left and got $500 each.🙊🐵🐵🐵🐵🐵🐒

The villagers waited anxiously for the next announcement.🙄

Then the merchant announced that he is going home for a week. And when he
returns, he will buy monkeys @ $1000 each!🐵💵💵💵💵💵💵💵💵💵💵

He asked his employee to take care of the monkeys he bought. He was alone
taking care of all the monkeys in a cage.🤠🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒

The merchant went home.😎

The villagers were very sad as there were no more monkeys left for them to
sell it at $1000 each.☹️😞😓

Then the employee told them that he will sell some monkeys @ $700 each
secretly. 😶

This news spread like fire. Since the merchant buys monkey @ $1000 each,
there is a $300 profit for each monkey.😬

The next day, the villagers made a queue near the monkey cage.🐒🐒🐒🐒🐒🐒🐵🐒🤑🤑

The employee sold all the monkeys at $700 each. The rich bought monkeys in
big lots. The poor borrowed money from money lenders and also bought
monkeys! 🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒💵💵💵💵💵💵💵💵💵💵

The villagers took care of their monkeys & waited for the merchant to
return. 😕

But nobody came! ...😤 Then they ran to the employee...🤠

But he has already left too !😉

The villagers then realized that they have bought the useless stray
monkeys @ $700 each and were unable to sell them! 😩😫😨😰😭😭😭😭😭😭

The Bitcoin will be the next monkey business 😜

This"monkey business" will make a lot of people bankrupt and a few people
filthy rich. 🐒😉😅

That's how it will work🤣

I see Bitcoin is now 'worth' £12,000. If I had £12K would I buy a Bitcoin. No. And says who the Bitcoin is worth £12K. Not me for sure. The price could be an absolute lie. No regulation you see.

And says who the Bitcoin is worth £12K

Who says a £ is a £ ?

And what if one day the people that say a £ is a £ suddenly say "Hang on, maybe a £ should be £0.90" ?

After all, it's not like the Bank of England actually has the gold to back the £ anyway.

MN Yes I could, but not only am I greedy, I am also paranoid. I don’t want the seed in one place and I only want paper copies of the various parts. DS has instructions. Hopefully he will understand them if it’s ever needed.

Have found out that if you want to invest in the company, Ripple, rather than XRP, there’s a $100,000 minimum buy in.

"Who says a £ is a £ ?

And what if one day the people that say a £ is a £ suddenly say "Hang on, maybe a £ should be £0.90" ?

After all, it's not like the Bank of England actually has the gold to back the £ anyway."

Um, the £ is backed by a massive military, and an economy producing stuff.

Bitcoin is not backed by anything. Even the drug dealers & child pornographers have stopped using it.

Um, the £ is backed by a massive military, and an economy producing stuff.

And if the government decide a £ is worth £0.90 ?

Not that it's ever happened ...

The market cap for Dogecoin has broken $1bn which is complete insanity for a coin that is a joke. DD remains unfazed by my generous present to her.

Wow over the $100k needed to invest in Ripple the company. One thing, I've liked about Bitcoin and Ether is that you can be part of it for a very small amount of money.

Now are we strong enough for this? Before Christmas there was a whole lot of noise about crypto kitties but I didn't want to go anywhere near it. www.bbc.co.uk/news/technology-42237162 - it does feel v Beanie Baby...

Who says a pound is a pound. Certainly not some faceless person or persons who are not answerable to anyone. Nobody even knows if the founder is an actual person or group. I'd go for group myself. It's a gigantic bubble. There will be tears before dawn believe me.

OH has 500 bitcoins from 2011 when they were worth not much, he used to mine them. People used to donate him bitcoins for doing things. I used to tell him how much of a waste of time it all was... Safe to say his mining weirdness paid off!

That said, I don’t think they will go much higher and they’re due for a crash at some point

Just noticed this thread...myself and DH have been dabbling a bit recently and have tripled our money...he does most of it, and on a day to day basis, moving it from currency to currency. It's been fun!

VivienneMary Why are you so obsessed? I can't get burned as only invested as much as I could happily afford to lose. We're all adults! No different to the stock exchange.

Because I can't bear the thought of the handwringing and disaster stories when it all goes wrong. But folk always think they know best.

We're all adults! No different to the stock exchange.

Or playing the lottery

MN I tried to interest DD in crypto kitties before Christmas. Sadly she takes after her father and turned her nose up at the thought of trading cats online.

Viviennemary people on this thread have repeatedly told you that they haven't invested more than they can lose. Why do you keep "worrying" about people who are just fine? It's a bit weird! I can understand it if you've had some issues with gambling our lost money before and it's affected you but other than an explanation like that it's very strange!

@Viviennemary, the £100 I spent in August 2016 is now worth about £2500. There is wailing, gnashing of teeth and rending of clothes here, I can tell you. I would've bought more but the atm got removed from the shop.

For every winner there is at least one loser if not more. When the losers start losing then we will soon hear about it.

The 450e I spent around sept is now worth 1150e

Actually its closer to 1500e, just looked

"Because I can't bear the thought of the handwringing and disaster stories when it all goes wrong. But folk always think they know best."

Bullshit. If bitcoin does crash, you'll probably take great delight in rubbing it in people's faces.

Wow bigbaboon!!!!! That's a millionaire 6 x over!?!?!?

Rubbing it in their faces. My goodness. They'll all be millionaires and we poor souls who didn't buy it have missed out.