Bitcoin

[MadGamer]

Hello everyone,

Long time no post so to speak. I wanted to ask if anyone uses bitcoin to make money and has it been successful for you? I'm really considering it but wanted some opinions and advice first

Thank you 🙂

[ianch99]

Originally Posted by MadGamer

Hello everyone,

Long time no post so to speak. I wanted to ask if anyone uses bitcoin to make money and has it been successful for you? I'm really considering it but wanted some opinions and advice first

Thank you 🙂

Regularly used by criminals to launder money gained via blackmailing people. Until this can be stopped, the whole system should be suspended. Without a clear audit trail, which you get with mainstream payment systems, it will be used by malware criminals. Stop the ability to be paid and it will reduce the malware.

Other reason to control it is the amount of energy consumed:

Bitcoin's energy consumption 'equals that of Switzerland'

Cryptocurrency will have a future but this is not the one we should run with ...

Bitcoin is purely speculation. I.E Gambling. You make money by buying it, hoping it goes up in price, and then selling it. However unlike shares there is little underlying value in a bitcoin, it's ability to rise in price is purely down to how many other people thinking it's going to go up. That's what happened a year and a bit ago when it started gaining, people got on board and thus it gained more and then it spiked. It soon came crashing down again.

No one here can tell you if it's going to go or down in future. However unlike the stock market there is little reason to suspect it's going to go up over time.

[SnoopZ]

I've spent 500 euros but i got stuck in the crash January last year and the coins i bought, Litecoin, Etherium and XRP haven't recovered, so i have lost 400 euros so far.

Even though bitcoin is rising again because i am currently negative i am not buying anymore.

I got into it at the end of the good period and i made 2 small test purchases and they made a 7% profit in a week each so that is when i tried a little bigger! Didn't work out for me, not too worried but i am hoping it does go up again but it is (today currently on a downer).

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There is a story that the first ever purchase of something with bitcoin was for 2 pizzas back in 2010, the coins spent on those pizzas would have been worth £80 million at todays rates!!!!

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This is a good site to see whats happening with the coins, currently mostly RED, within 24hrs it'll turn green....then red again etc.

https://coinmarketcap.com

Don’t put in any money you can’t afford to lose - it’s more of a gamble than an investment.

Originally Posted by MadGamer

Hello everyone,

Long time no post so to speak. I wanted to ask if anyone uses bitcoin to make money and has it been successful for you? I'm really considering it but wanted some opinions and advice first

Thank you 🙂

Unless you have money you can afford to throw away, dont bother.

Its basically just a form of betting.

[ianch99]

Surprise no one objects to the blatant criminal money laundering ..

[pip08456]

The days of a small investment into bitcoin (whatever flavour) to make a handsome profit have gone.

Many more businesses outside the online retail space are accepting bitcoin. Criminal money laundering through BTC is a stupid idea. Because it leaves a permanent trail and everyone can see it. regulations linked to accepting bitcoin - bitcoin has a regulation problem, but the government works on it.