Bitcoin Mining & Other Crypto Currencies | Page 15 | Vital Football

Bitcoin Mining & Other Crypto Currencies

HeathfieldRoad1874 said:
There is far more Gold than the price justifies. Bitcoins are as good as a metal. I know you can't touch them, but they have a value. I think they've proved the doubters wrong.

I'd love to see my £800 turn into £10,000!!!!!
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I guess they have a value for as long as people think they have a value and keep the thing going. As long as you can receive it and spend it, and someone accepts that - it is a currency of some form. The concern for someone like me who doesn’t have £10k to lose and not be bothered, is the lack of regulation around the Crypto which is where Standard or Citi could come in to make it more accessible to amateurs.

My Ether speculation didn’t do very well but it was money I was happy to lose! Buying just 1 bitcoin is a hell of a lot of money, and I’ve come across a couple of people who haven’t so much as bought a stock aside from pensions investing big money in it.
 
I can’t remember where I was exactly but it wasn’t the UK, but I’ve only come across one place where bitcoin was an acceptable form of payment. I remember seeing a few trendy coffee places in London tried it, but the transaction fee meant that it cost about £9 - just for the fee.

For it to work in the mainstream, surely it would need a VISA/MasterCard intermediary to process transactions on the street?
 
HeathfieldRoad1874 said:
It was the only market open over New Year.
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My theory was that lots of people are at home, and despite the news a lot of people are saving money and can’t spend it.

It seems like institutions are looking to get on the bandwagon too, if there is a platform who can offer investing safely (I don’t know but the one thing that worries me about bitcoin is where I’m sending £10k+ too in order to buy one), it could grow arms and legs.
 
I use a company called Nicehash. They have a good reputation, and let you buy and sell all the crypto currencies, as well as making mining easy if you have the right equipment.

Now worth £1,600.
 
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