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  1. Leesparkykent
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    Leesparkykent You Rock Gmes Staff Member Trusted Advisor

    Location:
    Kent
    Anyone jumped on the Bitcoin band wagon? Worth under 2K a few months ago and now over 12k ATM. I don't really understand the technology behind it all but looks the fastest growing investment at present.
     
  2. mattg4321
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    mattg4321 Electrician's Arms

    Location:
    South East
    Wish I'd got in a few months ago. A mate was trying to get me involved when it was at 3-4k dollars.

    I remain a sceptic though. Can see a lot of ordinary people getting burned very shortly. Feels like a bubble is my gut feeling. Of course I could be wrong and it could be 100k next year. I'll sleep more soundly being out than in though!

    To sum up its a gamble. It seems like its probably 50/50 going to go one way or the other.
     
  3. Leesparkykent
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    Leesparkykent You Rock Gmes Staff Member Trusted Advisor

    Location:
    Kent
    Yeah that's where I'm at really...I had a mate trying to get me involved about a month a go when it was around the 5K dollars. I didn't chuck anything in the pot as I kept researching it and still wasn't much the wiser. Someone who's involved in the futures market predicted it will hit 15k dollars before she xmas which it's hit today. The same guy predicts a bit coin will be worth half a million by 2022, but if this pace keeps up one will be worth 1 million. Should of brought a load in 2009 when they were about 30cents :eek:. Branson brought a grands worth and now that investment is worth over 300 million....like he needed it:D
     
    • Useful Useful x 1
  4. Des 56
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    Des 56 Trusted Advisor

    Location:
    Gliese 581C
    I was buying my fags up till last November from Moldova using Bitcoins, until the customs started intercepting and seizing my deliveries
    During that time I was spending the equivalent of £20 a week

    I left about £20 in the account and forgot all about it
    My son recently asked me if I had any left,we looked at the rate and my £2o is now worth £240 ish

    I was pleased and yet disappointed, what I had spent over about 20 weeks of Bitcoins on fags,it would have had a value of £42,000 if I had just hung on to them:oops:
    However,I recently bought £100 of coins because they are forecast to rise until the end of 2019,here's hoping:)
     
    • Like Like x 1
  5. Rock'N'Rebel
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    Rock'N'Rebel EF Member

    Location:
    Birmingham
    How safe is it or what guarantee is there that the site will be still here tomorrow.??
    It's all in cyberspace and there is some very clever hackers.
    Easy come easy go I think. ;)
     
  6. mattg4321
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    mattg4321 Electrician's Arms

    Location:
    South East
    Nothing wrong with sticking a few hundred quid or a grand or whatever you can afford to lose, but it's a gamble imo.

    It just worries me that people are starting to see the £$ signs and rationality goes out the window. I don't see, or maybe understand, where it's intrinsic value is. At least with other fiat currency, it's ultimately backed up by a government that will try to maintain its value to a certain extent and has the ability raise funds through tax etc.

    If and when the bitcoin bubble bursts it'll happen very quickly
     
    • Agree Agree x 1
  7. Vortigern
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    Vortigern Electrician's Arms

    Location:
    England
    Business Name:
    F.H. Electrical
    The singularity has occurred. Soon we will all receive new cards that trade only on crypto currency from our banks. The future is crypto currency. Viva la Blockchain!
     
    • Funny Funny x 1
  8. Des 56
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    Des 56 Trusted Advisor

    Location:
    Gliese 581C
    Wow,this thread spurred me into checking the rate against what I hold
    I have 0.06282561 Bitcoins worth a grand total of £793.40 smackers :cool::)
     
    • Like Like x 1
  9. Leesparkykent
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    Leesparkykent You Rock Gmes Staff Member Trusted Advisor

    Location:
    Kent
    The likes of Goldman Sachs, google, virgin etc seem to be heavily investing in block chain technology. I will probably buy £300-£400 worth and just hold onto it. My pal put £1400 in a few months ago and today it's worth about £3000. Japan is going mental for it ATM....I was reading an article on the carbon footprint of bitcoin and apparently bitcoin mining, transactions etc uses around 150 terrawatt-hours a year.
     
  10. Leesparkykent
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    Leesparkykent You Rock Gmes Staff Member Trusted Advisor

    Location:
    Kent
    Happy days...is that from the £20?
     
  11. static zap
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    static zap Regular EF Member

    Location:
    west midlands
    An expensive recent cock-up. May have caused a flutter.
    ( in some competing crypto )
     
  12. Leesparkykent
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    Leesparkykent You Rock Gmes Staff Member Trusted Advisor

    Location:
    Kent
    Cut the power to some servers did we?:D
     
  13. Des 56
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    Des 56 Trusted Advisor

    Location:
    Gliese 581C
    The £20 was what was in there in October,a few weeks ago it was valued at £240 after it had been lying there for a year

    When I saw how much it had risen,I chucked another £100 into buying more coins,its that combined amount now worth almost £800
    I will take a chance that it continues to rise :praying:
     
    • Like Like x 1
  14. static zap
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    static zap Regular EF Member

    Location:
    west midlands
    --No !
    A programming nerd ,moved some Emperium about ..
    ..and made a mistake ,so they evaporated into thin air !!!
     
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  15. Leesparkykent
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    Leesparkykent You Rock Gmes Staff Member Trusted Advisor

    Location:
    Kent
    $100 in 2012 would be worth around $4000000 today :eek:
     

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