Bitcoin bandwagon.........

[Madocks]

Buy a few mining machines, bypass your meter and watch the coins role in

Joking of course

 

[PEG]

Radio 4 did a good piece on this,today. The biggest rise,has obviously passed,and there are issues with trading rules and FCA oversight on purchasing.

I suppose it is the same as any other exponentially increasing investment...spend only what you could stand to lose

 

[Gavin John Hyde]

bitcoins are mathematically limited by the formulae used to mine them. so have a certain value but you can in theory mine them on your computer, that is why the Japanese are going mental for them at the moment. they are all sitting there trying to unlock the encryption for a coin to then claim it, they then get the chance to sell the coin making mega money. some Japanese universities have seen their computer systems crash under the workload and systems crash from over heating! Bitcoin can also be stolen, so just because you have them in your e-wallet it doesn't mean a hacker wont take them from you. buyer beware as they say

 

[The Ghost]

The thing I don't like about crypto currency is it puts up the price of graphics cards. As people use the GPU to mine crypto currency. So if a shop gets 10 high end graphic cards someone comes in and buys them all so there is none for me. And the price rockets up.

 

[Wilko]

By experience I can guarantee you that I can make bitcoins worthless. It's very simple. I just buy some, and they will be worth diddly in a week...

 

[PEG]

....I'm still getting over how fast those looms make cloth...

 

[HandySparks]

I don't think I'm going to jump in on this one, partly because I don't really understand it. It may have a long term future (or maybe another cryptocurrency will prevail), but in the short term I'm sure we're in bubble territory, otherwise we wouldn't have this thread!

I fully expect to see a pretty large and rapid drop in the value of bitcoin in the not too distant future (or maybe I'm hoping for an opportunity to say 'I told you so', as I'm not invested myself). If (when) the price starts to drop, how quickly can you sell bitcoin in exchange for pounds, especially if everyone else is trying to do the same? In the end, what matters is being able to convert your 'profit' into something that you need or want.

It's a pity that it takes this sort of 'fast buck', headline-making 'investment' to make people sit up and take notice, when most of the population keep their savings in a bank or building society account earning one or two percent.

 

[static zap]

It's like the advice , you can't go wrong with stocks and shares .
( Till the 1st big crash )
Has to be better than putting it in a bank ! (or on a horse)

 

[HandySparks]

Searches on Google for 'bitcoin':

Google трендови - https://trends.google.com/trends/explore?date=today%205-y&q=bitcoin

 

[Squid]

Bit like the Tech Boom, I think a mate of mine only finished paying the loans he took to buy in last year, lost about £30k.

Its a virtual currency what can go wrong eh, in the early days you could mine for Bit Coins with a home PC but the power and the costs required now to drive a PC will cost you more then you make thats why companies have set up server farms to do the mining for you, you just need to buy in.

 

[Midwest]

There was a piece on bitcoins on the Vine show a week or so ago. Can't remember much detail, couple of experts on there, including one guy who runs a company advising people on investments in cyber currency! Apparently there is a limit to the amount of bitcoins up for sale, and its quite hard to buy any now, and the jury's out on whether it burst like a bubble. The same as any such investment, only invest if you can afford to lose that money.

 

[Octopus]

BBC money box covered this just this week

Enjoy:

BBC Radio 4 - Money Box, Money Box Live: Bitcoin and digital currencies - http://www.bbc.co.uk/programmes/b09gzjhy

 

[Judd]

I believe crypto to be the future I invested some money in Bitcoin and others in 2016 and I Have had very generous returns although I wouldn't put fresh fiat currency into it at the moment because every Tom dick and Harry is jumping on the bandwagon just trying to earn a quick buck.
Having said that you could argue any
Correction is limited because of it's finite supply, it costs a heck alot of money to run the Gpu's just to mine a small amount of Bitcoin, you could argue it's more like gold than money, a store of value rather than a medium of exchange,
I nearly bought some Bitcoin in 2013 they were just under £100,
never mind hey

 

[SparkyChick]

GPUs aren't the best way to mine. If you're serious about it, you should consider dedicated mining hardware based on application specific integrated circuits.

The Antminer S7 for example, costs $500 (last time I looked) and achieves a hash rate of over 4 tera hashes per second. As far as I know, unless you spend lots of money you're not going to get near that with GPUs as the hash rates I've seen are all in the mega hashes per second range.

 

[Squid]

GPUs aren't the best way to mine. If you're serious about it, you should consider dedicated mining hardware based on application specific integrated circuits.

The Antminer S7 for example, costs $500 (last time I looked) and achieves a hash rate of over 4 tera hashes per second. As far as I know, unless you spend lots of money you're not going to get near that with GPUs as the hash rates I've seen are all in the mega hashes per second range.

It we ever meet at a party/function I will be the guy with his fingers in his ears singing la la la la da di la ................