JackClark

Thank you 2016 for the terrible instability that has pushed Bitcoin over $1000.

http://www.coindesk.com/price/

I'd suggest getting in quick, to the moon!!

Dblock

I kick myself everytime I see bitcoins mentioned. I was out of the PC scene for like 10 years and I came back 1 year to late. If only I was earlier and got a 7970 or 290x before it all went ASIC I'd have been laughing.

Do people actually use Bitcoin? The problem with it IMO is people buy them to not use them and wait until the price goes up.

JackClark

Transactions are also increasing. It's a great way to transfer money if you're working abroad, also great for buying drugs. Buying and selling them used to be tricky but now it's simple. Lots of stores accept it.

I did some mining back in the day but got in trouble at work, probably mined a lot and didn't care.

I gave some away on here and still hold 1 of 21 million.

gary77

iTrader: (1)

Ive just looked into bit coin mining . Its interesting and confusing . What are these computers actually doing . And would it be crazy to spend say 20'000 gbp on a setup . Not sure my internet could cope or my electricty board

From what ive read it would take over a year to start making profit and who knows what position bitcoins will be in then .

Dblock

From what I understand unless electric is cheap and you get the ASIC's cheap I don't think it's worth it anymore. But I could be wrong.

JackClark

100% not worth it. Bitcoin 'Mining' is adding transactions to the blockchain. If you complete a full block you get some coins. That's an awful description but you can think of miners as the software that runs ATM machines, that's also a terrible description but hey.

Totally not worth getting into unless you're doing a warehouse full.

JackClark

Now €1,000 get in before £1,000.

JackClark

Chinese dip just kicked in, down $200 today, if you're interested now could be a good time but probably too late.

Chinese dip is due to a free bitcoin loan expiring today in China, they have to sell today or keep and pay.

Dblock

Good job no one took your advice lol!

bioforger

iTrader: (1)

always research on JC's "advice"

JackClark

Pump and dump.

Hardly but lets check back in a while.

LSherratt

iTrader: (1)

Views on the price now? $930. Predicted to hit $1500 for end of 2017?

JackClark

I think it'll hit $1500, when and how much lower it goes is a harder guess. It's worth throwing £150 at it because it's a fun thing to have.

JackClark

Back over a grand again.

JackClark

$1,094.67 this morning, a bit scary diving in now but a tidy profit if you took my advice.

JackClark

$1,182.41 this morning, all time high and longest period above $1k

Get ready for the next dip.

JackClark

Now worth more than Gold.

To the moon.

dpb

Heck at this rate Jack youll be able afford a new iPhone even !

Dblock

Dogecoin is where it's at.

JackClark

I'm seriously considering trading it for a drone. But I'll probably regret it when I could have traded it for a house in a few years time.

bioforger

iTrader: (1)

Shutup Jack its a con, simple as that.

JackClark

Even I don't believe you're that naive.

dpb

i read that story too

Dblock

Please explain this. Bitcoin doesn't have weight. Gold is usually measured in grams.

JackClark

No problem. The default weight for gold when talking of it's value is an ounce, 1 bitcoin was worth more than one ounce of gold.

Dblock

interesting

JackClark

Tipping point coming up.

"By March 11, the SEC should rule on the long awaited Bitcoin ETF filings. If approved, Bitcoin could spike in value, as it will officially join the global ETF market, estimated at over 3 trillion USD! If declined, we could see Bitcoin drop to historic lows."

This fund is owned by the Winklevos twins of The Facebook fame.

dpb

Sell Sell Sell !

JackClark

I'm holding, did consider buying a drone last week via Amazon and a work around but I just know I'd regret it.

JackClark

Denied. Look at that drop, then it bounced back hurrah!