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Bitcoin FAQs

Back in 2014 I started hearing about Bitcoin and being inquisitive I researched it and found out how to buy some, which I did. I then promptly ignored them and carried on with my fumbling attempts to make money out of other things.

In fact, I couldn’t remember what my details were and how to access them.

Whilst clearing out some old paper work recently I stumbled across where I had written down my account details, so I logged into Blockchain and my bitcoins where still there and what was more pleasing I was sat on a 10 bagger.

Now at this point you are probably thinking “Smug Bastard” but no I was kicking myself.

At the time, I purchased I had thought “What am I going to do with them and they will probably go belly up as a scam and I only bought 0.1 bitcoins. Yes, I risked a massive £21 which is now worth £210 as I type.

So, I am now sitting thinking why didn’t you buy 1 or 5 or 10 for God’s sake it would not have broken you at the time.

So Doh! This making money game is easy when looking through a rear-view mirror.

I will hang on to my small stake and maybe it will 10 bagger again and I still don’t know what to do with them, but things are changing.
M

Who needs oil and gassers when you can have bumcoin?

Even bigger sigh, missed it entirely :-(

Bitcoin rises above $14,000 on Bitstamp to record high

$60m worth of Bitcoin stolen by hackers.

Our friends over at ADVFN have now removed the DAX chart from their header page and replaced it with Bitcoin.

And what happens if it's your Bitcoin that gets stolen. Who's paying to replace it? I assume no-one

Bit like someone stealing your wallet. The bank of England won't refund you for the cash you have lost.

Some wallet!

Bit a bitcoin - hold for 2 days and make 50%.

omg - you could make money by holding for half an hour.

No wonder FTSE won't go up - all the speculative money is on bitcoin

Yes crazy isn't it!

So...

Soon you will be able to short bitcoin I assume through CBOT which makes me wonder what the traders will do with it. where would you short it? 20k , 50k? because there's no intrinsic way to measure what it's worth

I know nothing, I'm out of my depth, I'm steering clear.

Remember when Freeserve was the 6th biggest stock on FTSE?

CC - lets not go there..........

pop?

Well done, Martini!

May I ask please, when you sold your coins, what was the bid/offer spread like, and did you have to accept the bid, or could you place your own order on the book and wait for a fill?

I just sent an order to sell to coinify I got a price no view of the order book but does that exist yet? Maybe when the futures Market comes into play. More on this later :)

Well, it's all very odd... This use of Blockchain and "Trust between Transactions" - as to the price, like so many things if there is a queue - join it!
Martini made a v.small profit - and is yet to bare the details which will be most interesting.... as will the notion this can be "Shorted" - does that really mean you can sell something that doesn't exist? I'd expect Blockchain to be more robust than that - but these are particularly curious days, for sure.
That the US Authorities are looking, may signal a massive sell-off since no-one can know what others may do.... and it seems odd to me that the price rises when there is nothing to "make" to add a coin.
I don't understand the discussion abt. "Bit-coin Energy" either. The Internet's servers and wiring isn't free - Everyone pays their ISP - & they pay into a big Organisation like Amazon that (some say) has a grip on most servers. So every transaction or email has a "Cost" - but whilst Blockchain is a very large number . . . is that gradually swallowing up all the spare capacity in the Internet? Something like a virus that grows (but with afinancial purpose?).
I must lie down.

Martini,

The price will now collapse. You are warned! All the muppets like me, have now bought in. Just like year 2000.

Futures traded from tonight as XBT in Chicago, I believe. What usually happens from here?

Best of luck
randonpunt (aka March from a long time ago)

CBOE XBT
Heavy volume on the website tonight, according to their Twitter feed.. XBT?

Some funny replies on 'the twitter' @CBOE about this crypto thing right now.

I will get my coat ...

Bitcoin futures: Here’s what you need to know

Thanks for the link skinny.

Hi March. I have long ago given up trying to forecast the price of Bitcoin.

Profit in the coffers and a small punt left to keep me interested.

Regards M

Anyone wanna buy a tulip? :)

Nice one, M. Despite my inbox having been inundated with his stuff for months I did not do anything other than watch. Currently planting bulbs.