Never understood it myself..
Can anyone on here explain what they are about please.
Are they worth investing in or have i missed the boat :sherlock:
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Never understood it myself..
Can anyone on here explain what they are about please.
Are they worth investing in or have i missed the boat :sherlock:
Well basically, if you pay $1000 into an anonymous bitcoin account the recipient will not send the video of you watching naughty ladies on the interweb, however if you don't pay it there will be laughter by all your contacts.Quote:
Originally Posted by stan butler
Getting one of these a day now !!!!
Sorry Stan, for not answering your post properly.
It’s a virtual currency not backed by gold and has fallen 75% from its peak just a few months ago.
I personally would avoid any cryptocurrency but I don’t like risk
Money laundering innit.
How come AlwaysAway hasn't mentioned this? :shrug:Quote:
Originally Posted by WJ99mobile
Because I bought mine at £300 and they are now worth £5,000.
Watch the You tube video
How bitcoin works under the hood
This is the best introduction I know.
If you are interested you might need to watch it 5 times. I did.
Then I bought Andreas Antonopoulos book. Understanding Bitcoin.
There is no substitute for finding someone who knows how it works and can show you.
No money at all is invested in bitcoin.
For every £ or $ used to buy any Cryptocurrency someone else has received the fiat money.
It’s a trust system. Unregulated and outside Government control.
I love it.
What does this mean - 'someone else has received the fiat money' ?Quote:
Originally Posted by AlwaysAway2
From what I can gather purchasing bitcoin is the same as buying something that doesnt exist using something else that doesnt exist to pay for it. People will eventually grasp that the whole thing is a scam and the system will come crashing down. The only people who will make money out of it in the long term will be the people who invented it and have long since bailed out. Don't worry though, there will be loads of claim companies queing up to sue the living daylights out of anyone they can on behalf of the 'ordinary people' who must have been misled into buying them in the first place.
It's like buying an online lottery ticket which doesn't have any prizes or inherent value.
When you come to sell said ticket you have to hope that someone else will ignore this and weigh you in.