Is Bitcoin the Next Big Thing?

[Admin]

Up, Down, Up, Down, Up, Down

Why invest in something the performance of which you have so little control over?

It's just gambling.

Well, my investment into them (100 btc) in November has doubled in value, Im spending them via my Bitcoin debit card but cannot spend them as fast as they are appreciating. I've been spending with bitcoin for 7 months and have more value than I started with, absolutely fantastic !

 

[timter51]

I'll jump back on the gravy train if it approaches its ATH (approx $1200 I think). Smash through that and all hell could break loose. Though fair play to anyone who has made profits on the rise over the last 6 months or so

 

[Murray]

£791, starting to climb pretty high now

I gave 1/2 bitcoin to a family member for a birthday the other year, they asked me to sell it recently (which I did on here) £220

I told them they should hold on to it tut tut

 

[Admin]

Yeah, great run. Should be through 1000 USD soon. Sadly, I've been converting some of mine into USD on this run up. Loving the bitcoin debit card, spend them on anything, anywhere.

 

[timter51]

If it threatens $1200 with proper support I'll be jumping in all guns blazing.. exciting stuff!

 

[ian]

Didn't realise that bitcoin is still a thing!

 

[Admin]

Didn't realise that bitcoin is still a thing!

haha... Market cap is over $15Bn now

 

[DomainManage]

Currencies are nearly dead aren't they? I would only buy bullion now.

 

[ian]

haha... Market cap is over $15Bn now

Market cap of $15Bn in a non-regulated sector that could just disappear overnight.

 

[lazarus]

Market cap of $15Bn in a non-regulated sector that could just disappear overnight.

That's the beauty of being decentralised It can't disappear..

Fiat currency cannot just be made willy nilly with no backing, ie. quantitative easing It has to crumble soon enough. My bet is in the next 50 years.

This guy puts it across very well. (Godfrey Bloom MEP)

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Plus the bitcoin blockchain is more secure.

Once fiat currency is done and dusted currency will live on the blockchain.
RBS is developing blockchain systems right now.

Currency is only the start. Soon pretty much anything to do with data will live on a blockchain,
Check out maidsafe...

 

[aZooZa]

Is there any auspicious institutional support for BTC?

 

[RobM]

Strange how people who think the banking system (non backed) is flawed then rave about a currency that is equally baseless.

 

[Admin]

I couldn't assess the risk, I'm a simple man. However I know I've tripled my money based on the current 1020 USD a bitcoin price. Where else can you get 300% return in just over 1 year .

 

[RobM]

Someone will be left holding the baby - just not you in this case. At least the person who 'invented' this currency from nothing got a good return on his money... of course he made it. All pyramid schemes are good unless you're the last one in it. Congrats on tripling your money but if you really think 300% is a sustainable business model for everyone I'd be surprised - it has to be funded somewhere. Eventually someone has to lose that money you made.

 

[Murray]

Where else can you get 300% return in just over 1 year .

I've been thinking about the nature of investments

I think it's mostly knowledge vs risk in that the only investments you can make big money on without knowledge involve big risk

I could put £1000 on a poker table, I'm good at poker, I could easily get it to £3000 with a bit of luck, I could easily lose it all

 

[Murray]

Someone will be left holding the baby - just not you in this case. At least the person who 'invented' this currency from nothing got a good return on his money... of course he made it. All pyramid schemes are good unless you're the last one in it. Congrats on tripling your money but if you really think 300% is a sustainable business model for everyone I'd be surprised - it has to be funded somewhere. Eventually someone has to lose that money you made.

Isn't it more the maths and technology/science behind it that makes it special, rather than the currency itself

The blockchain technology that is

 

[RobM]

Nothing makes it 'special'. It used to be basically backed by the cost of the 'power' used to mine and create it. People were turning money into bitcoin without realising it by paying their electric bills to get it. It is only worth now what people are willing to pay for it. I suspect eventually the emperor will be shown to be naked and somebody will pay that cost. But if you make money in the meantime go for it - I'm certainly not telling people not to trade in them. Just be aware like flowers.mobi selling on launch for 500k eventually reality will kick in.

 

[RobM]

Another thing to note is that most of it's volatility comes from people trading it using *real* money to get it in the first place and, ultimately, turning it back into *real* money. People don't want the bitcoin they want the market value for it in cash which can be used to pay for their groceries.

 

[lazarus]

You can buy groceries with Bitcoin In fact pretty much anything you can think of..

Bitcoin is all accounted for and that's what makes it special you cant add to it or take it away
unlike the current illusional fiat currency.

It really comes down to one thing. Centralised or Decentralised.

Blockchain technology is here to stay that's for sure.

 

[Murray]

Nothing makes it 'special'.

Have you looked into it to any serious degree?