Dingdongler

I must admit that I find it very difficult to get my head around cryptocurrencies and so have more or less ignored them.

Yet they don't seem to be going anywhere and they seem to now be attracting institutional investors.

Has anybody here bought any?

dpb

that mad apple fan maybe ...

JTaylor

Not that mad:

https://www.scoobynet.com/computer-a...ts-1000-a.html

stevebt

iTrader: (8)

I read that someone else was creating a new currency which will compete with bitcoin and if it’s true it has to affect the value of bitcoin?

albob

there are currently dozens of crypto coins

https://www.cryptocompare.com/coins/#/btc

I suspect it is to late to get in now...

Dingdongler

Yes there are loads but it maybe far from too late to get in. Knowing that bitcoin started off at pennies (even one year ago it was only $3000) and is now $10000 is obviously off putting. However it doesn't matter how much it has gone up already but how much it might go up.

I struggle to get my head around a currency that is 'mined' by a computer, exists gods knows where and regulated by nobody.

I was hoping somebody here might be a fan and would convince me that it'll rise to $1 million per coin

stevebt

iTrader: (8)

I think and everyone else thinks bitcoins bubble is going to burst.

Dingdongler

Yes but how many times have you read about 'everybody' saying a 'bubble' is about to burst and it never does? ( Or doesn't for another ten years anyway...)

And then there are those that tell everybody else that its going to burst and then buy in the dips themselves

https://news.bitcoin.com/after-the-b...-buys-the-dip/

dpb

Fear and greed

Dingdongler

Just discovered the bitcoin thread on the computer forum. I'll take it over there.

Cheers

JackClark

Nice. Basically if you'd chucked a tenner at it in January when I started that thread you'd have a grand. I say chuck a tenner at it now, the cost of two pints isn't going to break the bank and it's more fun.

GlesgaKiss

Missed out big time on bitcoin. It was a few dollars years ago when it came on my radar. If I'd just put a punt of a grand on it, which I was doing with penny shares at the time, it would now be worth millions. Doh!

JackClark

Lots of stories like that one, I have one myself, but you could have chucked a grand at it any time this year and won bigly.

iMook

It'll burst, no doubt.

I don't do currency or share trading, but I bought £480 worth earlier this year based on a drunk conversation with a mate and sold them for just under £1k a few weeks later. Complete gamble and it could have gone either way. I don't really regret selling, despite it now being worth over £3k. The money paid for some of our holiday

Biggest thing for me was being worried about having them hijacked, for want of a better term. I like to think I'm tech savvy enough to get my head around the whole thing, but it's just a bit surreal.

JackClark

It’ll peak, no doubt about that.

Nice result, I hope to buy something with mine. I cashed out enough BCH to cover my Bitcoin costs... at the wrong time. Still, free internet money!