Bitcoin and other Cryptocurrencies

Money, investing, mutuals etc

Re: Bitcoin and other Cryptocurrencies

Postby pabenny » Tue Aug 08, 2017 1:37 pm

underfog wrote:For the brave there is money to be made.


How?

Bitcoin holdings produce no income, so (obviously) you make money by buying and the reselling when the price is higher.

But how do you know when is a good time to buy? Presumably not now given that the price has recently gone up from about $2000 to about $3500.

And what are the dealing and holding costs?

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Re: Bitcoin and other Cryptocurrencies

Postby planteria » Wed Aug 09, 2017 7:20 am

good questions pabenny

i haven't ventured into cryptocurrencies, but i do know people that have made, and are sat on, good money.
Last edited by planteria on Wed Aug 09, 2017 7:53 am, edited 1 time in total.

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Re: Bitcoin and other Cryptocurrencies

Postby blythburgh » Wed Aug 09, 2017 7:51 am

underfog wrote:
blythburgh wrote:
Sarah wrote:It's crazy volatile - you're in for a roller-coaster ride if you get on board!


I do not want to be seasick so not joining this ship


For the brave there is money to be made.


And no doubt lost
Keep smiling because the light at the end of someone's tunnel may be you, Ron Cheneler
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Re: Bitcoin and other Cryptocurrencies

Postby Sarah » Wed Aug 09, 2017 8:35 am

planteria wrote:i do know people that have made, and are sat on, good money.


Are they having any difficulty getting their money back out again? It can be done (there are exchanges, etc) but is less easy than putting money in, as I understand it. Small holders often exit via purchases of goods or gift cards instead of converting directly back to cash.

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