Anyone here bought bitcoins?

[Napbree]

It's not audi related, well, it is in my case because my profits are going towards my car!

Just wondering how many people have bought some / debated buying some?

If you don't know what it is might be worth googling and giving a good read, plenty of sceptics, plenty of hopefuls but as it stands it's on the rise but at the end of the day no one knows where it's going to go.

 

[AntB]

Did you see the volatility in them in the Spring?

 

[Napbree]

I wasn't involved but anyone who was investing in a new currency with little publicity should expect crashes, especially big ones at the beginning. The problem then was, it was even more unknown than it was now, so at the slightest sign of a dip the majority of people who'd invested heavily sold up, causing the massive crash. Now the market's slightly more mature, people understand it's volatile and the investors who are dropping big numbers know this and aren't pulling out at the slightest whiff of a dip. So there are still mini-crashes, i.e it dropping by 100 in a day but they know the chances are it'll rise again.

People are now starting to see it as a viable currency, especially chinese, and that's what's causing the price to rise massively as more and more people hear about it from around the world.

I've dropped what I can afford on it, so i'm not relying on a return (****** well hoping for one though). I'm just sitting in the backseat watching my bitcoin ticker, munching on my popcorn.

 

[AntB]

Im not sure of the long run effects of the silkroad shutting down as well, plus hacking, I'm not saying its a bad idea at all, you cant argue with return, just building a round picture fair play to anyone with the stomach for bitcoins.

 

[Napbree]

Silkroad was the starter, it got publicity for the bitcoin, it highlighted the benefits of this currency and in a weird and ****ed up way, showed that people are associating bitcoin with a value, just like gold. Plus with bitcoins limited to 21 million (and it getting harder to make more the closer it gets to that number) the value will start to settle down, at that point, hopefully businesses will start accepting and people can actually start using it as a currency, if not, people will sell up and those that are quick enough will make a killing, the rest are left behind with empty pockets.

So far i've tripled my money anyway, can't complain too much

 

[AntB]

Bitcoin made the news back in April with the rally that's why it crashed, I unfortunately watch the finance news all day. From memory went from 250 down to 50 in under 24 hours. Like I say not arguing at all, I just wouldn't say they are a new idea as such, plenty of sites abroad have used them as currency for a while, some friends have played about with them since 2011, some friends of friends even mined them back in the day. Comparing it to gold is a bit silly that's the only thing I disagree with, Fair play though mate like I say returns are returns

 

[AntB]

Also I like your approach to it, and as I say I'm not saying you're wrong, if anything I want it to rally until it has to be a main player in the FX space, something new is always interesting in my book, good luck with it.

 

[MattKeating]

Napbree, how many you got? I only bought 1.5.. and they already 3x the value i paid (in a week).

 

[AK47UK]

It crashed due to a smear campaign regarding hacking. Banks and governments will not just sit back and let bit coin gain popularity as it damages them but I hope it will take off as it takes the power away from the corrupt and greedy. Main issue at the moment is the fact so many were seized from Silk Road, these could be used to damage the currency, I think they are planning the most effective way of doing this at the moment.

Anonymous are trying to start a new wave of change, bit coin is one way to help achieve this.