Views on Bitcoin or other cryptocurrency Investments

[CryptoBeccit]

Hey guys, been seeing a lot on the internet about Bitcoin or other cryptocurrency Investments. Any thoughts x

Yeah great idea if you want to lose all your money in an epic facepalm. Go for it

Agree

Yes I have some.

We had a short lived thread over in money matters back at the start of the summer if you want to get more views. I bought a bunch of bitcoins back when they were £10 a coin and spent this summer buying up Ethereum and litecoin so as you can tell, I'm a fan.

We were all accused of being snake oil salesmen over on the original thread, an accusation that I genuinely don't understand given that all of us were hodlers. Bitcoin may completely pop and vanish into cyberspace or it could continue to make people a whole load of money. Take your pick and don't invest more than you can afford to lose.

I'm sticking with Bitcoin/Ethereum/Litecoin but I do keep an eye on potential competitors. Once they hit a certain value I am going to sell a certain amount, but after that I'm hanging onto them for the next 9 years and then likely selling.

I should add that I have a very high tolerance for risk. The bulk of my money is in normal funds but I also play on the AIM market so I'm well used to wildly fluctuating prices.

How have you bought your cryptocurrency?

I have it spread over three platforms because I think the biggest risk right now is a raid on a platform and my coins stolen! I have my Bitcoins held on localbitcoin.com, some of my SIPP is held in a Bitcoin tracker fund (XBT) which is done through my Hargreaves Lansdown account and my Ethereum and Litecoins and held on Coinbase.

It's really popular today. Cryptocurrency is becoming so strong and I also invested in it ( at robomed.io/ ). Maybe it's weird, but I got my first tokens shares and it feels so interesting, going to have some additional cash. I think that people don't need to be afraid of it.

They could go up or they could go down. Its speculation not investment.

I'm not the best person to ask. I sold 5btc for £2000 a year or two ago.

As an investment - a terrible idea. For short term speculation - not too bad.

At some point the bubble will burst. Like the tech bubble this isn't a new paradigm but traditional irrational exuberance. Different cryptos will come on to the market, one will go pop, confidence disappear, and prices crash. No idea when - it might double in value before that, but it is not a sensible long term investment.

I’m still holding onto mine.

Bitcoin is a classic bubble. 21st century tulips.

By all means take a punt if you fancy it. But, whatever you do, don't bet invest money unless you can afford to lose the lot.

I am really pleased with my investments.
I always cash out my original investment once it has doubled. Then anything more is a bonus.