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Bitcoin... legit or bullshit?


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#1
ad_182_uk

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My mates saying he is making the easiest money ever just by investing in the stuff.

Thoughts? Anyone tried it?

#2
Rawr_32

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It’s been going years and they are increasing in value monthly. If only I’d took a punt earlier

#3
r1ynb

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My mate says the same , I just get the feeling he makes off me if I join 🤔
But it is only on the up

#4
ad_182_uk

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My mate hasnt mentioned anything bout him making anything from me joining yet. Still seems to think its worth getting in the bandwagon before it gets regulated or something.

#5
flatlemon

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It's one of the most volatile markets at the moment so tread with caution.

#6
DubNurd

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it can go up or down. Do be carefull!

 

My father in law brought some for NZ$400 each quite some time back and sold 2 for NZ$15K recently.


                                                          
 
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#7
Tj0785

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it can go up or down. Do be carefull!

My father in law brought some for NZ$400 each quite some time back and sold 2 for NZ$15K recently.


That's some profit margin. I think the time to make some money has been and gone.if you haven't got in on it yet I don't see you making enough to risk it

#8
raiden

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I looked into after reading this years ago http://www.telegraph...oin-payday.html

 

Money to be made but no idea how tho and does look risky


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#9
pastyfarian

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I got a few quids worth in 2011, just after it hit $1. Values bounce around a lot today it's sat at $5741, tomorrow it could be worth half that....or nothing. Within the next 10 years $10000 is not unthinkable. 

 

Other crypto currencies are worth keeping an eye on. With the legalisation of weed in the US but banks not able to handle cash from dispensaries....... potcoin can only go up... 



#10
Ravenscry

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It's a minefield, Consider loading up on Ethers (Ethereum) instead. It has a lower price entry so at least if you buy some it looks like you actually hold something. ie if you buy $1000 of bitcoin you will own 0.1785714 of a coin. That being said your investment still moves basis the percentage swing so it does not really matter. Bitcoin or Ethers are your best base currencies. Once you hold those you can buy into other crypto currencies.

 

Getting the account set up is a bit of a ball ache  ! fwiw I buy my bitcoins from  Bitstamp  and i trade my tokens via  Bittrex.

 

As said above it's a very whippy market, but for sure you can make some good cash. Only invest what you can afford to lose.

 

I recommend buying some "Ripples" and "Mysterium"

 

Good Luck 



#11
Ravenscry

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Gordon Gekko: The point is ladies and gentlemen that greed, for lack of a better word, is good.



#12
ad_182_uk

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My mates 'up' $400 in 8 days - but surely he cant just withdraw instantly?



#13
Ravenscry

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My mates 'up' $400 in 8 days - but surely he cant just withdraw instantly?

 

No, it's not an instant withdrawal, and you have to consider FX conversion costs from £/$ and back again, commission for the deals (which is peanuts) but can add up if you are trading in and out.



#14
Ravenscry

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This has just come up, in case you are interested

 

https://www.cnbc.com...n-exchange.html



#15
Seigdes

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I buy and sell cryptocurrencies, while I make a profit. It is a good and volatile trading tool. I use the https://bitniex.com/exchange exchange because the fees are really low https://bitniex.com/fees here. What cryptocurrencies do you have and do you use cryptocurrency exchanges?


Edited by Seigdes, 19 September 2020 - 07:14 AM.





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