Bitcoin and the crypto currency world - what do you think?

[limpsfield]

Given the rise in price,and ensuing media coverage, of the world of the crypto currencies, I thought a poll might be interesting to gauge PH sentiment.

[limpsfield]

Just trading above $17k again

[Welshbeef]

I don’t get it.
I’ve no interest in it
I fear people will lose a lot of money.

[Luke.]

Currently hold a whopping three Litecoins and fractions of a BTC and ETH.

[Luke.]

Welshbeef said:

I don’t get it.
I’ve no interest in it
I fear people will lose a lot of money.

Phew.

[toastyhamster]

It's a bubble, for so many reasons, but IMO we're nowhere near the end of it, and some of the more viable coins may well survive, I can't see BTC surviving long term, but I would have said that five years ago too, so what do I know.

[g4ry13]

I'm trying to obtain coins with a realistic chance of having real world application. I don't think Bitcoin in this form is the future.

I like the look of Ripple and have invested in there and am looking to diversify into other coins - most likely Litecoin & Ethereum.

[cheeky_chops]

g4ry13 said:

I'm trying to obtain coins with a realistic chance of having real world application. I don't think Bitcoin in this form is the future.

This.

When martin Lewis is talking about them you know something out of kilter

[Not-The-Messiah]

Been watching it for years back when they were £100 a coin but always thought it was just to volatile and didn't have the balls to jump in. But the FoMO as finally kicked in and decided to get in but only with a minimal amount.

I going for it to continue to rapidly rise for few days/weeks as more and more buy in. But eventually having big correction soon, but I've been expecting it to crash for years now and been very wrong, so who knows? hoping to bail out before it does and buy back in later. But if I miss the crash or it doesn't crash, I've only got a few smaller coins LTC , ETH so will just hold on to them long term.

[anonymous-user]

Not-The-Messiah said:

Been watching it for years back when they were £100 a coin but always thought it was just to volatile and didn't have the balls to jump in. But the FoMO as finally kicked in and decided to get in but only with a minimal amount.

I going for it to continue to rapidly rise for few days/weeks as more and more buy in. But eventually having big correction soon, but I've been expecting it to crash for years now and been very wrong, so who knows? hoping to bail out before it does and buy back in later. But if I miss the crash or it doesn't crash, I've only got a few smaller coins LTC , ETH so will just hold on to them long term.

Same here, got sick of feeling gutted every time I looked at the price for not buying in, so FoMO made me finally setup an account last week with Coinbase. Due to FoMo I would actually rather lose money than keep missing out watching it rise and rise.

Due to stupid coinbase £500 a week limits I can only put in dribs and drabs, but it has been fun and my "investment" has already gone up several hundred pounds this week, even though I don't yet have shed levels of money invested yet.

Much more exciting that the 1% I am currently getting from my savings account.

[Luke.]

Joey Deacon said:

Same here, got sick of feeling gutted every time I looked at the price for not buying in, so FoMO made me finally setup an account last week with Coinbase. Due to FoMo I would actually rather lose money than keep missing out watching it rise and rise.

Due to stupid coinbase £500 a week limits I can only put in dribs and drabs, but it has been fun and my "investment" has already gone up several hundred pounds this week, even though I don't yet have shed levels of money invested yet.

Much more exciting that the 1% I am currently getting from my savings account.

Did you go all in on BTC or split amongst the other two?

[Size Nine Elm]

My biggest problem is that there is no underlying value, it's all sentiment.

At least with the Tulip bubble, at the end of it you were left with a bunch of tulips.

[Not-The-Messiah]

Joey Deacon said:

Same here, got sick of feeling gutted every time I looked at the price for not buying in, so FoMO made me finally setup an account last week with Coinbase. Due to FoMo I would actually rather lose money than keep missing out watching it rise and rise.

Due to stupid coinbase £500 a week limits I can only put in dribs and drabs, but it has been fun and my "investment" has already gone up several hundred pounds this week, even though I don't yet have shed levels of money invested yet.

Much more exciting that the 1% I am currently getting from my savings account.

Was quite happy with the £500 a week limit to be fair stop me going mad not to happy with the charges though.

[extraT]

Chaps,

I read about bitcoin years ago but the problem was I simply didn't understand how to go about buying. Obviously reading about bitcoins activity over the last two weeks has made me think what a fking idiot I was for not being able to figure out how to buy something!

So bitcoin is now well out of reach for me.

My question is simple how do I go about buying litecoin or ETH?

Here's what I want to do: I want to enter my credit card details into a (trusted and legitimate website), buy The crypto currency and forget about it. Is this how it works is it really simple or am I being a simpleton?

I have found a website (https://bittylicious.com) which has come from Coindesk.com, Number one ranked results on google for the search term ' how to buy litecoin' they are quoting £150 for one coin, which seems to be in line with other information I can find... but the problem is I have absolutely no idea if this website is legitimate; if this is the right way to go about buying; and what to do after I have bought the coins (e.g. with storage (I have an old computer which I could use as a wallets … I have heard that I may need this… This is how clueless I really am!)

If someone could please explain in extreme layman terms how this all works I will extremely grateful!

Tia

ET

[Yipper]

Relatively speaking, Bitcoin is the biggest bubble in the history of global humanity.

Bigger than tulips, South Sea and tech stocks.

All bubbles burst.

All 100% of them.

Peer-to-peer currency will go the same way as peer-to-peer software, loans and credit -- it will be niche. Nobody owns it.

Bitcoin today accounts for only 0.3% of all money in circulation on the planet.

[Not-The-Messiah]

extraT said:

Chaps,

I read about bitcoin years ago but the problem was I simply didn't understand how to go about buying. Obviously reading about bitcoins activity over the last two weeks has made me think what a fking idiot I was for not being able to figure out how to buy something!

So bitcoin is now well out of reach for me.

My question is simple how do I go about buying litecoin or ETH?

Here's what I want to do: I want to enter my credit card details into a (trusted and legitimate website), buy The crypto currency and forget about it. Is this how it works is it really simple or am I being a simpleton?

I have found a website (https://bittylicious.com) which has come from Coindesk.com, Number one ranked results on google for the search term ' how to buy litecoin' they are quoting £150 for one coin, which seems to be in line with other information I can find... but the problem is I have absolutely no idea if this website is legitimate; if this is the right way to go about buying; and what to do after I have bought the coins (e.g. with storage (I have an old computer which I could use as a wallets … I have heard that I may need this… This is how clueless I really am!)

If someone could please explain in extreme layman terms how this all works I will extremely grateful!

Tia

ET

Do a bit homework first. but Coinbase is you best bet I would say its insured but the fees are high.

You dont need to buy full coins you can just buy 0.0001 of a coin if you want, coinbase give you $10 in bitcoin if you spend over £100.

[extraT]

Thank you for replying, but I don't understand how I can only buy 0.0001% of a coin?! How do I store this? Argh!! I'm so happy so excited and confused…

[cat with a hat]

extraT said:

Thank you for replying, but I don't understand how I can only buy 0.0001% of a coin?! How do I store this? Argh!! I'm so happy so excited and confused…

I'm awaiting the crash

[anonymous-user]

people are only interested in it because the price is high or is the price high because people are interested.

i think who ever designed it to work as one big ponzi scheme for holders and miners. It was designed to get away from big banks, big bubbles yet it has become one, so I think ouroboros.

Edited by The Spruce goose on Monday 11th December 22:02

[DanGPR]

Yipper said:

Relatively speaking, Bitcoin is the biggest bubble in the history of global humanity.

Bigger than tulips, South Sea and tech stocks.

All bubbles burst.

All 100% of them.

Peer-to-peer currency will go the same way as peer-to-peer software, loans and credit -- it will be niche. Nobody owns it.

Bitcoin today accounts for only 0.3% of all money in circulation on the planet.

Roughly how much knowledge do you have of cryptocurrencies? How much research have you done?