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Bitcoin

Every four years the amount of Bitcoin that can be mined halves. 2020 there will be another halving around about May. This generally doesn't increase an immediate spike, sometimes even a slight pull back, but then it lifts off. One major factor for me regarding the legitimacy of Bitcoin is who accepts it as payment. APMEX is probably the biggest gold and silver bullion dealer in the world and they accept Bitcoin for gold and silver.

Interesting. I see the price has been fairly stable for a while now, so this could cause a growth in the value.
 
Some analysists are predicting anywhere from $50,000 to $500,000. Sounds crazy, but so was going from a few hundred to $20,000.
 
I wish I had the smarts to understand this. 45 and still nowhere near owning a house.
 
I can buy some with my revolut account. Not really getting it though
 
I can buy some with my revolut account. Not really getting it though

I use an app called Coinbase. Easy and reliable. It’s basically an investment like anything else. Your speculating on the price of Bitcoin going up in the future.
 
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It’s up about a grand since my last post. Starting to move fast.
 
It’s up about a grand since my last post. Starting to move fast.
When you say it's up a grand can you tell us what the base figure/investment was?
 
When you say it's up a grand can you tell us what the base figure/investment was?

Last week or whenever it was I posted, the price per bitcoin was roughly $7300. The price right now is just over $8300. It’s a very volatile trading market. It could feasibly drop to $6000 by next week, or $10,000. I’m not investing for the short term like that, I’m banking on it 12-24 months from now. I think it will be well over $20,000 by then.

Really hard to make any kind of call, from what research I’ve been able to do, I think it’s just going to get bigger and bigger. Like I said. The biggest bullion dealers in the world accept it as a form of payment, places like Expedia take it too. If it becomes proper mainstream or Amazon starts accepting it, it will skyrocket.

Also the market is capped out. There are 17 million bitcoins in circulation right now and only 21 million will ever be mined. That’s it after that. After 21 million, no more will be created. It sounds like s big number, but in reality it’s pretty small compared to say gold and silver. Gold for instance mines about 50 million Troy ounces per year.

I’m no financial expert, more of a gambler than anything. I will put my money where my mouth is if I really fancy something strongly though. It will be interesting to watch this one play out over the next few years.
 
Last week or whenever it was I posted, the price per bitcoin was roughly $7300. The price right now is just over $8300. It’s a very volatile trading market. It could feasibly drop to $6000 by next week, or $10,000. I’m not investing for the short term like that, I’m banking on it 12-24 months from now. I think it will be well over $20,000 by then.

Really hard to make any kind of call, from what research I’ve been able to do, I think it’s just going to get bigger and bigger. Like I said. The biggest bullion dealers in the world accept it as a form of payment, places like Expedia take it too. If it becomes proper mainstream or Amazon starts accepting it, it will skyrocket.

Also the market is capped out. There are 17 million bitcoins in circulation right now and only 21 million will ever be mined. That’s it after that. After 21 million, no more will be created. It sounds like s big number, but in reality it’s pretty small compared to say gold and silver. Gold for instance mines about 50 million Troy ounces per year.

I’m no financial expert, more of a gambler than anything. I will put my money where my mouth is if I really fancy something strongly though. It will be interesting to watch this one play out over the next few years.

I'm not saying your forecast is wrong but gold is not instantly replicable whereas Bitcoin basically is, no?

Having said that if facebook have tried and failed to make one then maybe it isn't.
 
I'm not saying your forecast is wrong but gold is not instantly replicable whereas Bitcoin basically is, no?

Having said that if facebook have tried and failed to make one then maybe it isn't.

The huge advantage with gold, is it will NEVER go to zero, where bitcoin could possibly. There’s probably about 20-30 other cryptocurrency’s available, so quite a few have tried to replicate it, but not even close to the level of Bitcoin.

It’s a hard one to understand. They don’t make them out of thin air, they are mined using computers. I actually can’t figure that part out, but this year the number of bitcoin mined, gets cut in half. And after 21 million are mined/created, that’s it, maxed out.
 
This is literally beyond my comprehension.
 
me tae aggie. :sm003: Ive just read the thread, scratched my head and my arse and have decided to just spark another spliff.
 
The huge advantage with gold, is it will NEVER go to zero, where bitcoin could possibly. There’s probably about 20-30 other cryptocurrency’s available, so quite a few have tried to replicate it, but not even close to the level of Bitcoin.

It’s a hard one to understand. They don’t make them out of thin air, they are mined using computers. I actually can’t figure that part out, but this year the number of bitcoin mined, gets cut in half. And after 21 million are mined/created, that’s it, maxed out.

my point though is that despite its system of creation bitcoin is essentially replicable as a store of value whereas gold isn’t, really.
 
my point though is that despite its system of creation bitcoin is essentially replicable as a store of value whereas gold isn’t, really.

Your 100% right. I’m actually a big fan of precision metals too, those are the real safe havens. Bitcoin could crash to zero, with gold that would never happen. I can’t fully wrap my head around bitcoin either. I’m taking a somewhat half educated punt on it going up. Short term I’m not so worried about the ups and downs. Longterm is where I think it will pay off.
 
Your 100% right. I’m actually a big fan of precision metals too, those are the real safe havens. Bitcoin could crash to zero, with gold that would never happen. I can’t fully wrap my head around bitcoin either. I’m taking a somewhat half educated punt on it going up. Short term I’m not so worried about the ups and downs. Longterm is where I think it will pay off.

Fair play, I think as a bit of a punt it's got tremendous potential upside and I was certainly bang wrong about it last time, I'd just be careful not to put too much in due to the risk of ruin! Best of luck with it.
 
Your 100% right. I’m actually a big fan of precision metals too, those are the real safe havens. Bitcoin could crash to zero, with gold that would never happen. I can’t fully wrap my head around bitcoin either. I’m taking a somewhat half educated punt on it going up. Short term I’m not so worried about the ups and downs. Longterm is where I think it will pay off.

I’ve taken the view cryptocurrencies have more in common with stocks than they do commodities - I know factually that may be incorrect, but from an investment/gamble perspective in terms of their volatility and ability to completely crash.
 
@SuperTortolano kitchen walloper Gordon Ramsey suggested investing £200 to begin with. Is this sound advice? I take it after you make the initial gamble it's just a case of monitoring the market and seeing if you want to invest more? I know absolutely nothing about this like a few others.
 
@SuperTortolano kitchen walloper Gordon Ramsey suggested investing £200 to begin with. Is this sound advice? I take it after you make the initial gamble it's just a case of monitoring the market and seeing if you want to invest more? I know absolutely nothing about this like a few others.

I wouldn’t invest more than your prepared to lose. There’s every chance it could crash and you lose £200. There’s also a chance that £200 could turn in to £2000.

It is a case of monitoring the market and the trends. If it goes mainstream, I see it really taking off. It’s already been as high as $20,000, a lot of people are calling for $20,000-$50,000 by the end of this year. I’m encouraged by the fact the huge bullion metal dealers accept it as payment and Expedia. If someone like Amazon starts accepting it, it will soar.
 
If someone like Amazon starts accepting it, it will soar.

There's an interesting tension there. Because the more likely it is to increase (or indeed decrease) quickly in value the less likely Amazon are to start accepting it because it then has less use as an actual currency.
 
@SuperTortolano kitchen walloper Gordon Ramsey suggested investing £200 to begin with. Is this sound advice? I take it after you make the initial gamble it's just a case of monitoring the market and seeing if you want to invest more? I know absolutely nothing about this like a few others.

Problem is it never stops trading so you can wake up to a crash!
 
This is literally beyond my comprehension.

It's probably more stable than some currencies.
 
Just broke through $9000
 
Just thought I'd bump this thread. Bitcoin in the last 45 days reached the highs of over $10,000 a coin and now dropped to about $7800 as I write this. A major drop over the weekend. I still think long-term it's a good investment, but like others pointed out, can easily drop like a rock. Oil also has taken a massive hit over the weekend.
 
Down to £4,660 today. Other crypto currencies crashing. Markets closed after 6 minutes today so my son tells me because I know f'all about it :tumbleweed:
 
Watched it tank big time today. Was a high off $10,000 this year, now trading at around $5000. I’m down about 25%, but not too worried, I still think it ends the year up.
 
Bored and just thought I’d revisit this thread again. The halving event took place a few days ago. Nothing happened, but that was the same about four years ago. Bitcoin tanked as low as $3500, now back at $9500. Very very volatile asset to trade in, but still bullish on this one. I still predict bitcoin finishes the year at over $20,000.
 
Bored and just thought I’d revisit this thread again. The halving event took place a few days ago. Nothing happened, but that was the same about four years ago. Bitcoin tanked as low as $3500, now back at $9500. Very very volatile asset to trade in, but still bullish on this one. I still predict bitcoin finishes the year at over $20,000.

Want a match bet at 19k? Can do it as a spread.
 
Want a match bet at 19k? Can do it as a spread.

Okay mate, I'm game. You name the bet ?
 
Another crypto for anyone looking to take a punt is Ripple(XRP) Trading at about 20 cents US and has a massive upside potential to it. The company Ripple are gaining a lot of momentum through the banks and have some of the big players on board. If you punted a $100 and it was to hit its all time high of $3.84, you'd make about $1800. It's ranked #4 in most popular crypto. I like a punt, beats the dugs and roulette wheel.
 
Another crypto for anyone looking to take a punt is Ripple(XRP) Trading at about 20 cents US and has a massive upside potential to it. The company Ripple are gaining a lot of momentum through the banks and have some of the big players on board. If you punted a $100 and it was to hit its all time high of $3.84, you'd make about $1800. It's ranked #4 in most popular crypto. I like a punt, beats the dugs and roulette wheel.

You really are a Mentalist son.

BIG G
 
You really are a Mentalist son.

BIG G

 
You really are a Mentalist son.

BIG G

Time will tell... I bumped this thread in December where bitcoin was trading around $7000. Now up over $9000. I’ll be interested to see where we are in December.
 
Time will tell... I bumped this thread in December where bitcoin was trading around $7000. Now up over $9000. I’ll be interested to see where we are in December.

No playing fitba.

BIG G
 
Time will tell... I bumped this thread in December where bitcoin was trading around $7000. Now up over $9000. I’ll be interested to see where we are in December.

Well my prediction of hitting $20,000 finally hit today. Cashed out a portion and will wait for other opportunities. My other investment of XRP Ripple actually did better than Bitcoin. I was invested at 0.18 cents per coin and it’s now trading at 0.50 cent. That’s a 150% gain. Personally I think there’s HUGE potential for XRP to climbe even higher.

Could wake up to a crash tomorrow, not too worried. Still in for the long haul and taken a decent profit.
 
I was persuaded by a blogger friend to open a Trading 212 app/account a few months ago. There's a deal if you open an account you get a free share and if someone else opens an account using your link you get a free share for each upto a max of 10 free shares.

I was skeptical but went ahead and put a tenner in.

I've now got 11 shares worth something like £220 when they were 'bought' and around £300 today ... and my original tenner is still there.

Mrs Jackie didn't do so well, she's only got about £250 but others in our bubble have been really lucky and already cashed out with more than I have - you can do that after you've had the share(s) for more than 30 days. I've decided to keep mine for the time being.

The key is finding a way to get upto 10 folk to sign up using your link.

Now that I've maxed out the freebies there’s no financial advantage for me in mentioning this even if someone here decided to give it a go.
 
It's around about $7300 in dollars.

Just continues to soar. $7300 to $33,000 in 12 or so months. Crazy
 
Well my prediction of hitting $20,000 finally hit today. Cashed out a portion and will wait for other opportunities. My other investment of XRP Ripple actually did better than Bitcoin. I was invested at 0.18 cents per coin and it’s now trading at 0.50 cent. That’s a 150% gain. Personally I think there’s HUGE potential for XRP to climbe even higher.

Could wake up to a crash tomorrow, not too worried. Still in for the long haul and taken a decent profit.
Did Henry square you up?
 
Did Henry square you up?
Not yet, only been a few days since the deadline though.
 
I bought in mid December when it was approaching the previous all time high of 2017 and it's almost doubled since then. Was the definition of "fear of missing out" ?

Get this though - a mate bought 6 at £40 each back in about 2011-12 so he could get wacky backy off the deep web... he still has 5, now totalling £130,000! 'Jammy *&*^' doesn't cover it ?
 
I bought in mid December when it was approaching the previous all time high of 2017 and it's almost doubled since then. Was the definition of "fear of missing out" ?

Get this though - a mate bought 6 at £40 each back in about 2011-12 so he could get wacky backy off the deep web... he still has 5, now totalling £130,000! 'Jammy *&*^' doesn't cover it ?


It’s funny when you read the stories MSM put out about Bitcoin. Big headline last week about it dropping 15% in a few days. Doesn’t mention that it’s up about 400% for the year. I’m being a bit cautious just now and swapping it back to USD. My gut feeling says it will take a big haircut this year. Read an article from some big bank predicting bitcoin to $140,000. That’s usually the sign to bail out right there lol.

Well done to your mate, tell him to take some profits! Best price I ever bought was $400.
 

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