Bitcoins

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Cult of Personality

Cult of Personality

Midfield
Anyone have any of these?

Mate at work was telling me months ago about how he bought one for £50 some time back. Didn't really see the point in them.

Been looking at stuff to invest in etc so thought I'd take a look today and they're coming in at close to £2k.
 


If you had bought them 10 years ago then you would be very wealthy today. investing in them today is pointless as there value as peaked and is on the slide iirc. you can mine them as well which used to be profitable but now it costs more on electricity than what you get back so it's pointless, the gear you need is also very expensive. There are some huge bit coin mines in japan that make a fortune like.
 
PhilSAFC said:
If you had bought them 10 years ago then you would be very wealthy today. investing in them today is pointless as there value as peaked and is on the slide iirc. you can mine them as well which used to be profitable but now it costs more on electricity than what you get back so it's pointless, the gear you need is also very expensive. There are some huge bit coin mines in japan that make a fortune like.
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On the slide? Don't think so buddy.
 
Was very close to buying some 10 year ago after one of my lecturers mentioned them

Didn't bother

Would have been absolute quids in if I had

No doubt if I had bought them I'd of sold them for 50 quid rather than millions like
 
The price was flat for ages but this year they've nearly doubled in value :eek:
EDIT: make that quadrupled in the last 12 months.

Agree with the mining comments - it's profitless unless you can find some free lekky somewhere.

It's something i always wanted to get into - but i just can't get my head around how they value it compared to other currencies.
 
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PhilSAFC said:
If you had bought them 10 years ago then you would be very wealthy today. investing in them today is pointless as there value as peaked and is on the slide iirc. you can mine them as well which used to be profitable but now it costs more on electricity than what you get back so it's pointless, the gear you need is also very expensive. There are some huge bit coin mines in japan that make a fortune like.
Click to expand...
Was about to laugh at that. So I had a 2 minute read up on it. Think my head is about to explode! :eek::lol:
 
I have just attempted to understand Bitcoins by reading the Wikipedia page and I am completely overwhelmed with jargon. Almost every stage of the article references concepts and processes of which I have no understanding or experience.

Can anyone explain it it idiots' terms? Is the attraction of bitcoin purely that it is untaxable?
 
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