Cryptocurrencies

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Thought I'd take a gamble and bought £70 of Litecoins in September, now worth £470. I'm going to sell these but keep the Bitcoins I got.
I'm no expert by any means but thought if it's just small amounts then worth the gamble.
 
jbee said:
Thought I'd take a gamble and bought £70 of Litecoins in September, now worth £470. I'm going to sell these but keep the Bitcoins I got.
I'm no expert by any means but thought if it's just small amounts then worth the gamble.
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As long as it's money you can afford to lose then it's worth the chance. You won't see a bank making you that much in interest, all for the price of a night out.
 
Joey66 said:
They are a very big gamble - often used for paying ransoms on industrial office pcs - my sons firm has to pay those ransoms on behalf of the hacked computer networks- some posters on here claim they are great ?
My son reckons they are dodgy as if the crinimal underworld chased by the FBI etc they may tend to drop in value very sharply!
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The dollar is also used in the criminal underworld, and on a greater scale than bitcoin. In the wannacry attack in the summer that affected 200k computers, the hackers only managed to extort about $50k in bitcoin.

The idea that cryptocurrency is some big criminal underworld is a fallacy. Huge multinational companies are getting behind crypto technology. Banks are in crypto. Tech companies are in crypto. Wall st are now in crypto. JP Morgan and Microsoft spent the last few years rubbishing crypto and now in 2017 they started the EEA with companies like intel, in order to develop tech on the Ethereum blockchain.

The FBI have already seized bitcoins from criminals. In fact, the FBI hold about $2.2bn worth of seized bitcoin. If they wanted to damage bitcoin, all they'd need to do is drop it on an exchange.

Any stock is a gamble. Cryptocurrency has a large amount of risk attached to it, but also potential rewards are unlike any other commodity in the world. I've seen my crypto boom and crash, yet here I am still in it and still in profit. I've cashed in my initial investment and taken earnings as well so in the unlikely event that it fell apart tomorrow, I haven't actually lost anything.
 
Ron Swanson said:
The dollar is also used in the criminal underworld, and on a greater scale than bitcoin. In the wannacry attack in the summer that affected 200k computers, the hackers only managed to extort about $50k in bitcoin.

The idea that cryptocurrency is some big criminal underworld is a fallacy. Huge multinational companies are getting behind crypto technology. Banks are in crypto. Tech companies are in crypto. Wall st are now in crypto. JP Morgan and Microsoft spent the last few years rubbishing crypto and now in 2017 they started the EEA with companies like intel, in order to develop tech on the Ethereum blockchain.

The FBI have already seized bitcoins from criminals. In fact, the FBI hold about $2.2bn worth of seized bitcoin. If they wanted to damage bitcoin, all they'd need to do is drop it on an exchange.

Any stock is a gamble. Cryptocurrency has a large amount of risk attached to it, but also potential rewards are unlike any other commodity in the world. I've seen my crypto boom and crash, yet here I am still in it and still in profit. I've cashed in my initial investment and taken earnings as well so in the unlikely event that it fell apart tomorrow, I haven't actually lost anything.
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You forgot to mention it's invisible money that has now peaked at high risk investment not taxed either!
 

The binman chronicles said:
It's been a rough day tbh. My little investment has headed south but still up overall. Just hodl it.
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