Bitcoin

[FreshSoulL]

Not sure if there is already a thread on this..

But is it worth investing in? a mate bought 1 bitcoin for somewhere around $1000.. will this go up?

Anyone know much about this that can help out

 

[Mr Beast]

I've invested $2,500 with a mate of mine as they've been mining for bitcoin, been running for about 3.5 months now and have only been able to mine 3 bitcoins so far.

I've actually forgot all about this, not sure what the current market value is at the moment but last i checked a was about $900 now it has dropped to about $400USD

https://blockchain.info/charts/market-price

 

[Hacky McAxe]

Price can fluctuate and it's not considered stable or safe but it's a risk/reward thing. At anytime it could collapse as it's primarily used as an illegal form of trade but at the same time the price could spike at any stage. There was one guy who spent about $20 and made $350,000.

In the end it just comes down to the risk you're willing to take. The risk seems to be lowering now days as it's becoming more stable, also means there's less reward, so it's basically becoming in line with stock fluctuations.

But I know bugger all about economics so...

 

[FreshSoulL]

Cheers for responding.

I'm just scared of losing rather than gaining. Might see how it goes in a week or two if it continues to drop ill pick one or two up.

 

[Nano]

I wouldn't bother with this crap to be honest, just get a job and earn cash easier haha!

I've invested $2,500 with a mate of mine as they've been mining for bitcoin, been running for about 3.5 months now and have only been able to mine 3 bitcoins so far.

I've actually forgot all about this, not sure what the current market value is at the moment but last i checked a was about $900 now it has dropped to about $400USD

https://blockchain.info/charts/market-price

Do you guys have a proper mining setup or just heaps of graphics cards running at 150% lol?

 

[Rodzilla]

sounds like a ponzi scheme tbh

 

[Mr Beast]

I wouldn't bother with this crap to be honest, just get a job and earn cash easier haha!



Do you guys have a proper mining setup or just heaps of graphics cards running at 150% lol?

Yes, literrally 30 graphics cards running - worked it out at the time running cost electricity and the return on investment over a period of time when the bitcoin was high, worked out well. But now its down hard, oh well such is life, could still go back up just like any other currency except bitcoin go up and down quite high or low.

Either way was making money by doing nothing I was a silent investor

 

[Mr Beast]

Cheers for responding.

I'm just scared of losing rather than gaining. Might see how it goes in a week or two if it continues to drop ill pick one or two up.

I wouldn't invest or buy any tbh

Not sure if anyone recalls or knows about this. This dude had about 7 million or 7 billion bitcoins when it was valued at nothing, stored on his hard drive which he accidently threw away.

Dumbass just lost $2.8 billion dollars (7m x$400)

 

[CroydonDog]

I think i'll stick with currencies issued by central/federal banks

 

[FreshSoulL]

I wouldn't invest or buy any tbh

Not sure if anyone recalls or knows about this. This dude had about 7 million or 7 billion bitcoins when it was valued at nothing, stored on his hard drive which he accidently threw away.

Dumbass just lost $2.8 billion dollars (7m x$400)

Oh wow LOL this guy must be hating life so much.

 

[Rodzilla]

Oh wow LOL this guy must be hating life so much.

but he will calm down when he realises that he would never be able to transfer his $2.8billion worth of fake coins into real money

 

[Hacky McAxe]

but he will calm down when he realises that he would never be able to transfer his $2.8billion worth of fake coins into real money

But you can trade them on the black market for babies and body parts, then you can sell the babies and body parts for real money.

 

[likeadoggy]

bitcoin is already worthless isn't it?

 

[Rodzilla]

But you can trade them on the black market for babies and body parts, then you can sell the babies and body parts for real money.

not 2.8 billion worth

maybe he could get free things for a while from the 35-55 people/businesses who accept bitcoin

keep a look out next year for Rodzillacoin, only $19.95 for 1 Rodzillacoin tbh

 

[FreshSoulL]

not 2.8 billion worth

maybe he could get free things for a while from the 35-55 people/businesses who accept bitcoin

keep a look out next year for Rodzillacoin, only $19.95 for 1 Rodzillacoin tbh

Keen on that, Ill start investing now please?

 

[Stoofy]

Ill stick with real estate. At least I can see it as it is real!

Shares seem ok but I dont know enough about them.

 

[Indiandog]

Remember the golden rule guys " if you cant hold it ,it doesnt exist and you dont own it!"

Stay away from bitcoins!

 

[FreshSoulL]

Remember the golden rule guys " if you cant hold it ,it doesnt exist and you dont own it!"

Stay away from bitcoins!

Very true, dont know the risks of it and how secure you are.

 

[Moe]

Can someone explain to me (Like i am an idiot [which i am]) what bitcoin is and why people would buy it and how did it get its value?

 

[Moe]

p.s. i envisage the coins to look like the ones on mario kart