Millwallawayveteran1988
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Bitcoin has gone through the roof this year.
It’s up 130% in the last month!
Since March it’s up 700%
Crazy and risky now!
Bitcoin (cryptocurrency)
- Thread starter vonkeynotvenky
- Start date
Bitcoin has gone through the roof this year.
It’s up 130% in the last month!
Since March it’s up 700%
Crazy and risky now!
Invisible Man's Bandage
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Bitcoin is the modern day equivalent of the Tulip Mania in Holland in 17th century. An essentially valueless product hugely increases in price based on 'the bigger fool' principle until it collapses.
Tulip mania - Wikipedia
Maybe 4 years ago I think? When it was all popular he put £30k in and yeah it rose to £180k.
He’s taken his original £30k out now.
It’s an online e-currency that’s independent of banks, took off several years ago and loads of money was thrown at it, seemed to die a death and now had a revival.
Mad Eyed Screamer
Moderator
A bit like the dot com explosion a few years back when website businesses were being bought for millions and crashed straight after?Bitcoin is the modern day equivalent of the Tulip Mania in Holland in 17th century. An essentially valueless product hugely increases in price based on 'the bigger fool' principle until it collapses.
Tulip mania - Wikipedia
en.m.wikipedia.org
Has the Bitcoin ship sailed then or still worth a punt?
Mad Eyed Screamer
Moderator
So had I put 30K (I wish!) away last March, i would now have £240,000?
If i was to withdraw it all - or if everyone withdrew it all - where would the extra come from?
Invisible Man's Bandage
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I only know that Bitcoin is a speculative bubble. Get in at the right time and you can make a killing but equally you can more or less lose your money if you are at the wrong end of its regular crashes.
There is nothing behind it in my view and it has no intrinsic value.
flook
Well-Known Member
its sailed, come back in to port, turned around and sailed again....more than once. As its at a record high, my guess is its about to turn around again, but what the fuck do i know I bought litecoin :/
Withdraw what? Cash or Bitcoin
If you withdraw Cash then that means you have sold your bitcoin, if you withdraw Bitcoin then you'll have bitcoin in whatever wallet you decide to store it in. If everybody withdrew their Bitcoin and stored it it's price would obviously go up due to the scarcity of it.
There will only ever be 21 million bitcoins once it's all been mined, that doesn't mean only 21 million people can have bitcoin because you can buy fractions of it.
Also Bitcoin as with any other crypto coins is not just about buying and holding, although you can do that and I wish I had last year lol.
There's lots of fun in trading it, I used to do lots of sports betting but now am quite happy to trade crypto.
plus unlike having a bet you never lose your initial stake, you might lose a proportion of it but will always have something left no matter how small to have a other crack at it.
There's lots of fun in trading it, I used to do lots of sports betting but now am quite happy to trade crypto.
plus unlike having a bet you never lose your initial stake, you might lose a proportion of it but will always have something left no matter how small to have a other crack at it.