FabSwingers.com forum: Bitcoin / cryptocurrency

By (user no longer on site) OP
over a year ago

Whats is peoples thoughts on it. Have you invested and which ones..

Will it take over the banks?

I bloody hope so

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By (user no longer on site)
over a year ago

The bitcoin bubble has well and truly been and gone.

I bet it made some people a lot of money others will have lost what they probably couldn’t afford to invest.

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By (user no longer on site) OP
over a year ago

"The bitcoin bubble has well and truly been and gone.

I bet it made some people a lot of money others will have lost what they probably couldn’t afford to invest. "

I agree with the latter. But I still have hope in it.. Something will drive it back to ath..

I have a few other alts aswel.

I entered in the hype and its been a painful 18 months or so.. Ha

I don't need the money back so I'm just holding and still actually investing from time to time.

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By *cgkcCouple
over a year ago

Hitchin

A young friend of mine made enough for a large deposit on a house and a VW camper van.

He sold a little after it peaked at 19k so could have made much more.

He was encouraging me to invest about 5 years ago. I had the cash spare, but sadly risk averse.

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By (user no longer on site)
over a year ago

I had about £200 invested in Litecoin 2-weeks ago. It's now up to £400.

Now that the bubble has popped - I think we're going to see a steady rise over the next 3 years and beyond.

Not sure if it'll take over the banks though.

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By (user no longer on site)
over a year ago

I saw an ATM-esque machine that you could trade bitcoin on. In Croydon. Says all I need to know about it.

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By (user no longer on site) OP
over a year ago

"A young friend of mine made enough for a large deposit on a house and a VW camper van.

He sold a little after it peaked at 19k so could have made much more.

He was encouraging me to invest about 5 years ago. I had the cash spare, but sadly risk averse. "

I could have invested years and years ago aswel. But I just chickened out for the same reasons.

But I'm glad I have now. Not much.. A months wage... But hopefully enough to maybe make a few quid in a few years..

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By (user no longer on site)
over a year ago

It’s had it’s glory, as has ethereum and all the rest. It will never replace the banks lol. The banks will just create their own, and everyone will be unawares that they’re buying into the same system.

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By (user no longer on site)
over a year ago

It has no purpose IMO.

One can argue that the lack of oversignt by big banks and whatever is a positive, but this same reason can be a negative.

Look at Bitconnect, that basically turned out to be a ponzi scheme and since bitcoin isn't regulated, all the users were screwed.

And the other case of that guy who had a bitcoin 'bank' type website, millions of dollars worth in it and he mysteriously 'died' (theres evidence to suggest he faked his death and fled) and was the only person who knew the password for it.

Again, everyone who had deposited money was screwed over and couldn't do anything.

It serves a purpose for buying stuff online illegally, like , but there's little reason for it otherwise. I'd rather my money be tied to a monitorable, regulated economy

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By (user no longer on site)
over a year ago

I gave it a miss on the basis you should only gamble what you can afford to lose.

Investing in Cryptocurrency or putting your shirt on a nag on the Grand National is equally as risky. Some people may be lucky, others less so.

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By (user no longer on site)
over a year ago

Oh yes I forgot, bitcoin drove the price of graphics cards up massively from the miners, which has been super irritating as it meant I ended up paying more for the last PC I built

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By (user no longer on site)
over a year ago

I'm reading a really good book called the intelligent investor by Benjamin Graham.

It is crazy how so many people even in the investing sector buy high and sell low.

Cryptocurrency is now a high risk investment and should only take up 5% of your overall portfolio because if you loose it. The other 95% is working for you. But if you win big, happy days.

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By *rs99Man
over a year ago

Scarborough

Ask max kaiser I'm sure he,ll have answers 4u or anybody else who needs answers for bitcoin love the guy tells it how it is

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By (user no longer on site)
over a year ago

I invested a few hundred quid in it about a year ago but I bought when it had topped out so I’m still waiting fir it to pick up.

I read yesterday that the first purchase was made with bitcoin in 2010 and a guy paid 10,000 bitcoin for 2 pizzas, in 2018 those Bitcoin were worth $190 million. People made hundreds of millions out of them. If only I knew

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