Bitcoin (cryptocurrency)

Value has hit over 6000 this month (was less than 1000 per bitcoin at start of year) expected to hit 10,000 before year is out
 
For the ill informed could someone explain how you invest in bitcoin?

For example say I wanted to buy a £1000 worth, where and how do I buy? And how and where can I sell?
 
Take the advice of Warren Buffet and never invest in anything you don’t understand.
 
I had to get some Bitcoin for my streaming site renewal had £8.45 worth left just checked now valued at £11.06 after 3 days, better than interest rates. Hopefully it will pay for my renewal next year if I leave it

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bugsyblue said:
For the ill informed could someone explain how you invest in bitcoin?

For example say I wanted to buy a £1000 worth, where and how do I buy? And how and where can I sell?
Click to expand...

I'm no expert, certainly can't claim to be a sophisticated investor but having had a small inheritance this year I've put most of that in "sensible" options such as an ISA and some individual shares but following this thread and a lot of recent publicity invested first £100 and then another £300 over the past few weeks, currently worth around £450. I use the following site which then allows purchase through coinfiy.

https://blockchain.info/wallet/#/


I made the mistake of making an enquiry to a an investment firm who presumably passed my details on because I then got hounded by a company launching a new cryptocurrency and promising great returns but with a minimum investment of at least a couple of grand, money I didn't want to commit.

I'm thinking i might still top up on bitcoins buit don't know by how much. A few on here and elsewhere reckoning they will level out at around £9-10. My problem would be if they hit that level would i stick or twist?
 
I wonder if you would so easily find buyers when bitcoin hits a high. I have quite a lot of investment experience and i keep well out of bitcoin, because i understand how easily it could be manipulated anyway. A currency afterall only has the value that people believe it has, and this to some extend depends on how functional it is to getting what you want. In that regard, there is stuff you can buy with bitcoin, but i'm not sure how easy it is to convert it to money when it's high on paper, afterall you need to find someone i guess who wants to buy it at that price and those might not be easy to find, but i'm not sure. Furthermore the volume on the market and the value to which you can convert it would play a role. Buth it seems more uncertain than other investments where i can guarantee that i can liquidate it when needed and where factors that affect value are more predictable or easy to follow up.

My usual strategy is more like short term trading when tech company's come out with quarterly figures, as stocks can very easily fluctuate a lot in the run to the release of those numbers. For the rest i like to buy cheap stocks with good divident where possible in my own country as the tax is very low.

However, the superior stock trading wisdom to me is still "buy low, sell high". And you have to consider that golden opportunity's will arrise regulary trough youre life as stock markets will crash from time to time. Just tneed to be liquid before it happens, sell when things get to historical heights and beyond. ive loaded up on a load of food stocks when the 2008 stock market crashed an made a load of easy money in added stock value and dividents on that. Consider that the stock market currently is "pretty high", i don't think it's the best moment to go in as a new guy, at this moment i would advise to any new investor to wait until th next crash.

Also, ive been trading TSLA for the last months often as they fluctuate quite nicely, they are back to 306$ atm, i give that a buy recommendation, to sell between 355$ to 380$ dollars depending how brave you feel.
 
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dublinblue12 said:
Value has hit over 6000 this month (was less than 1000 per bitcoin at start of year) expected to hit 10,000 before year is out
Click to expand...

Bitcoin touched the 16,000 mark yesterday, I have some bitcoins so obviously I am happy for the astronomical rise but I am a little bit concerned, I am not sure what's really going on lol. I just hope its not a bubble.
 
i♥city! said:
Bitcoin touched the 16,000 mark yesterday, I have some bitcoins so obviously I am happy for the astronomical rise but I am a little bit concerned, I am not sure what's really going on lol. I just hope its not a bubble.
Click to expand...
It’s got all the hall marks of a classic bubble.

Even Dutch Tulips weren’t as crazy.
 
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