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General Chat Thread, Anyone got any bitcoins? in General; They've gone up $30 in the last half hour we've been watching!...
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    Anyone got any bitcoins?

    They've gone up $30 in the last half hour we've been watching!

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    gwendes's Avatar
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    My friend got a couple last week - he's made a few hundred quid in the last couple of days!

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    Where do you get them from?

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    localzuk's Avatar
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    That increase can disappear just as quickly. So, they're a little risky to invest in.

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    synaesthesia's Avatar
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    To say I'm narked is an understatement.
    I generated 40 bitcoins (helped with buying a few for a fiver) not long after it was first out.
    I got rid of them quite quickly.

    That's about 22k now.

  6. #6

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    I bet this guy is kicking himself now...

    BBC News - $22 Bitcoin investment brings Norwegian man fortune

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    Looked into getting some a few weeks back but decided not to.

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    localzuk's Avatar
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    Ouch. Know the feeling. I had a small 'trust' of sorts as a teenager from an injury payout, and I was asked if I wanted to do anything to try and increase its value. It was worth 3k at the time. If I'd agreed with the suggestion from a stock broker dad of a friend of mine, he was going to put it into Apple shares (he put part of his son's trust in them). They'd be worth about 250k now. Instead, I didn't do it, spent it on crap (I was a teenager!) and am in debt instead... My friend is now a multi-millionaire.

    That's life though. I'd only spend it on gadgets anyway...

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    LosOjos's Avatar
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    Yeah I really regret not investing a few quid in these way back when. I considered just buying 50 worth but thought it wouldn't be worth making such a small investment. How wrong I was!

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    SovietRussia's Avatar
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    Just one is around 400 quid, daymm. I should have bought em sooner!

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    I don't even get the point of these things aren't I right in thinking these bitcoins are just virtual money a bit like what paypal does....?

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    LosOjos's Avatar
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    Quote Originally Posted by alexbillbridgnorth View Post
    I don't even get the point of these things aren't I right in thinking these bitcoins are just virtual money a bit like what paypal does....?
    Paypal isn't virtual currency, it's just a way of transferring real currency between accounts. bitcoin is a new type of currency so is susceptible to exchange rates the same as if you were to buy Euros, so they have the potential to increase/decrease in value

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    Sdrawkcab's Avatar
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    Obligatory don't buy bitcoins post. They have absolutely no use outside of speculation* and so will crash to worthlessness when this bubble bursts, you almost certainly will lose money. Invest in shares or raw materials instead.

    *yes I know some websites and a few shops will accept them, but they all use a service called Bitpay which instantly converts the bitcoins they get into fiat money. What do Bitpay do with the bitcoins they effectively buy? That's right: Speculate!

    Also the price displayed on MtGox isn't really the "real" price. You haven't been able to withdraw cash from MtGox for a few months now, which has had the affect of pushing the price on there slightly higher than on the other exchanges. The best place to watch the bubble in real-time is bitcoinity.org/markets


    Oh yeah and definitely don't buy mining equipment. It is literally worthless and you will never ever recoup your investment now because the mining difficulty is WAY too high.

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    Sdrawkcab's Avatar
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    Quote Originally Posted by alexbillbridgnorth View Post
    I don't even get the point of these things aren't I right in thinking these bitcoins are just virtual money a bit like what paypal does....?
    They're a proof-of-concept toy designed to show how a decentralized virtual currency could work. For some reason people are exchanging huge amounts of cash for them, despite not being able to do anything with them except exchange them back into cash.

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    Is it worth buying some Litecoins while they are still cheap?

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