Anyone had a dabble in bit coin or ethereum?

[Stammo]

£100 in bit coin 3 months ago, it's now £550 and still set to rise...

 

[Jaws]

Had a play ages ago at mining.. nowadays you need at least 4 heavy duty processors to stand any chance.. You end up using more electric than its worth now

 

[Centaur]

Has anyone read about the tulip bubble? Phenomenal prices paid for individual tulip bulbs before the market crashed. South Sea shares was another one. Bitcoin next?

 

[Stammo]

Yep, think if bit coin becomes used by major retailers then it's here to stay though Centaur, the guys who founded both paypal and amazon seem to agree. It might be worth £100 though, just as a punt?

 

[andyBeaker]

I have never understood Bitcoin.

Avoided on the basis that 'if it is too good to be true....it is'!!

From the little I learned at work there was concern that it was a hotbed for money laundering.

I am going to stick to pyramid schemes, sure fire winner.

 

[Centaur]

I have never understood Bitcoin.

Avoided on the basis that 'if it is too good to be true....it is'!!

From the little I learned at work there was concern that it was a hotbed for money laundering.

I am going to stick to pyramid schemes, sure fire winner.

Don't forget the boiler room either, Andy.

 

[andyBeaker]

Don't forget the boiler room either, Andy.

I'm still saving Green Shield Stamps

 

[Stammo]

My nan told me about those Andy...

 

[derek kelly]

Bitcoin, the preferred currency of drug traffickers.

 

[ScottyUK]

Bitcoin is going through the roof as many is Asia don't want to miss out.

I work with a guy who bought 5 in 2014 for peanuts. He could get out now for a very nice profit .... but how much further will it go. He views it as free money to play with

 

[andyBeaker]

Bitcoin is going through the roof as many is Asia don't want to miss out.

I work with a guy who bought 5 in 2014 for peanuts. He could get out now for a very nice profit .... but how much further will it go. He views it as free money to play with

I will always advocate taking a profit when it is there to be taken. Even sell half and keep half some profit is taken and the aimless headlong pursuit of even more profit profit remains.
Bitcoin value does not loo sustainable - someone already mentioned the tulip bulb bubble market above.......and The South Sea Company...... and RBS......and, etc etc.

And apparently is may not be overly secure....

http://www.bbc.co.uk/news/technology-42275523

And Centaur, none of the above constitutes financial advice, may contain nuts and flashing lights.

 

[andyBeaker]

http://www.bbc.co.uk/news/business-42281004

 

[Centaur]

In generic terms I have always advocated stripping returns from a high risk investment on a very regular basis. Rebalancing I believe professional advisers call it but I couldn't be sure. Free advice is generally bad advice especially if someone is shouting "Look out" when something heavy is falling past a window.

 

[andyBeaker]

I see that the Chicago exchange opened for business in terms of future contracts for Bitcoin today.

The fuse is well and truly lit for the bubble to burst, short sellers will be queuing up...............

I'd Bitcoin was actually being used as a medium for buying and selling then there might be a future for it. However, it is clearly being held by investors who are focussed on capital appreciation.

The financial journalists will have already drafted their 'Bitcoin bubble bursts' articles.

Anybody want to buy some tulip bulbs from me? Be quick, the price will double tomorrow.........

 

[Stammo]

I guess all 'investments' can be a gamble. A combination of luck, advice, skill and right place, right time.
I think some folk with become wealthier from cryptocurrency and others lose. I wonder how many of the huge gains will be declared to the tax man! At least the snow is melting...

 

[andyBeaker]

I guess all 'investments' can be a gamble. A combination of luck, advice, skill and right place, right time.
I think some folk with become wealthier from cryptocurrency and others lose. I wonder how many of the huge gains will be declared to the tax man! At least the snow is melting...

Ansolutely. But those with foundation, such a commercial company that actually does something is likely to be a much sounder investment than something that doesn't do or contribute anything.

At the time of The South Sea Bubble in the early 1700s companies were coming to the market where the aim and purpose of the companies 'had not been decided' or was ''secret'. These issues were massively oversubscribed and the share prices went through the roof.........for a while.

As an aside, I am currently rereading The Great Crash by Selwyn Parker, which is about the 1929 crash in the USA. A really insightful look into stock markets, human greed, economics and government. Sounds boring, but written in a way that is easily understandable and engaging. Just reading a chapter about the miners strike in Australia and how the government, to their eventual cost, smashed it with violence. Highly recommended reading.

We haven't had any snow yet - torrential rain and gale force winds so far - heavy snow forecast for lunchtime.

I don't care.....as long as we can get to Gatwick on Friday!