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#1 Northernpower

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Posted 29 November 2017 - 05:24 PM

I've just been reading a story about a young teenager who at the beginning of Feb 2009 saw something he didn't quite understand on the internet but was curious. The subject matter was about a digital currency, it was called Bitcoin. he liked the idea it needed to be kept in a digital vault and set one up and bought $500 worth on the 1st April 2009 as an April fools joke. The value of each Bitcoin at purchase was $2.97. He still has them. Today for the first time ever the value went over $10,000 each, turning his $500 into $1,683,501.68.

 

Where did I go wrong?  :ohno:



#2 Will16

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Posted 29 November 2017 - 05:59 PM

Very good currency bitcoin, I'd be surprised if the value ever decreases now

#3 Northernpower

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Posted 29 November 2017 - 06:46 PM

Very good currency bitcoin, I'd be surprised if the value ever decreases now

I'd be surprised as well because there's a finite amount.

#4 sonikk4

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Posted 29 November 2017 - 09:20 PM

Mate of mine bought one at $3750 so he's happy. His mate has just had his insurance payout for the thieving toerags who stole his GTR and T5 camper so ploughed £60k into Bitcoin and has made £20k already.

 

Boat well and truly sailed there for me then. 

 

They think though it may drop back down, but as to how much who knows. Certainly one to watch i feel.



#5 Northernpower

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Posted 29 November 2017 - 09:43 PM

Mate of mine bought one at $3750 so he's happy. His mate has just had his insurance payout for the thieving toerags who stole his GTR and T5 camper so ploughed £60k into Bitcoin and has made £20k already.
 
Boat well and truly sailed there for me then. 
 
They think though it may drop back down, but as to how much who knows. Certainly one to watch i feel.

It's a difficult one to know, there's a finite amount so when they're all purchased they'll go up. They were only just over £3000 each in August and now they're £10k each. The biggest problem is the security of your digital wallet.

#6 r3k1355

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Posted 30 November 2017 - 02:35 PM

 

Mate of mine bought one at $3750 so he's happy. His mate has just had his insurance payout for the thieving toerags who stole his GTR and T5 camper so ploughed £60k into Bitcoin and has made £20k already.
 
Boat well and truly sailed there for me then. 
 
They think though it may drop back down, but as to how much who knows. Certainly one to watch i feel.

It's a difficult one to know, there's a finite amount so when they're all purchased they'll go up. They were only just over £3000 each in August and now they're £10k each. The biggest problem is the security of your digital wallet.

 

 

Yea it's also shed 2 grand in value in the last 24 hours, incredibly volatile.

 

Money to be made if you're brave and/or lucky, but make no mistakes the risks are quite large.



#7 Northernpower

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Posted 30 November 2017 - 03:35 PM

 

 

Mate of mine bought one at $3750 so he's happy. His mate has just had his insurance payout for the thieving toerags who stole his GTR and T5 camper so ploughed £60k into Bitcoin and has made £20k already.
 
Boat well and truly sailed there for me then. 
 
They think though it may drop back down, but as to how much who knows. Certainly one to watch i feel.

It's a difficult one to know, there's a finite amount so when they're all purchased they'll go up. They were only just over £3000 each in August and now they're £10k each. The biggest problem is the security of your digital wallet.

 

 

Yea it's also shed 2 grand in value in the last 24 hours, incredibly volatile.

 

Money to be made if you're brave and/or lucky, but make no mistakes the risks are quite large.

 

It's far too risky for me but I have friends who have the upmost confidence in it. The other issue is it's not always easy to convert in hard currency. My post was by no means a recommendation or endorsement merely the repeating of an interesting story.



#8 r3k1355

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Posted 01 December 2017 - 11:37 AM

I have friends into it, and I'll agree there's alot of money to be made there.

 

but it's not something that you can have confidence in, I know someone who's already lost their ass because there was an issue with their digital wallet.



#9 Northernpower

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Posted 07 December 2017 - 05:38 PM

This is ridiculous, the value today has gone to $16,200. When I made the intial post eight days ago they'd just broken $10,000 each. That's a 62% rise in eight days.



#10 dyshipfakta

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Posted 07 December 2017 - 07:39 PM

HAVent a tonne of them gone missing recently which explains the large jump.

#11 mm man

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Posted 07 December 2017 - 08:30 PM

A bit on the radio today about this (I know nothing)
Only worth something if you sell them !
And no guarantee what so ever if it goes belly up you will lose everything!
The experts are predicting it’s going to pop ???

#12 sonikk4

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Posted 07 December 2017 - 09:51 PM

Well my mate just sold his one and made $6k. I did look today at one trading site and Bitcoin was notable by its absence. The last time i saw it they hovering around the 14248 range.



#13 Northernpower

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Posted 07 December 2017 - 09:58 PM

HAVent a tonne of them gone missing recently which explains the large jump.

 

No they can't go missing but an individual can lose their access to them (this is normally through losing the hard drive they're stored on) but they are still in the system whether they are dormant or not.

 

A bit on the radio today about this (I know nothing)
Only worth something if you sell them !
And no guarantee what so ever if it goes belly up you will lose everything!
The experts are predicting it’s going to pop ???

Everybody has been predicting it will go bang in a big way and I must say it's far too risky for me but it seems to just keep gaining momentum.



#14 jamesmpi

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Posted 08 December 2017 - 01:52 PM

They can go missing if they get stolen!
http://www.bbc.co.uk...nology-42275523

I know sod all about this but this might help

https://99bitcoins.c...uide-to-mining/

#15 DomCr250

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Posted 08 December 2017 - 02:53 PM

I think the issue may be that governments around the world will try and do their best to destroy the value in bitcoins - in the UK we are seeing increasing pressure on making us a cashless society where you keep everything in a bank.

 

My understanding is that as a virtual currency it's not centralised so cannot be government controlled or manipulated. 






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