BodyButter
Vital Football Legend
After 3 months, you have only lost 60% of your investment? Lol
Bitcoin Mining & Other Crypto Currencies
- Thread starter TuBBz
- Start date
After 3 months, you have only lost 60% of your investment? Lol
upthevilla
Vital 1st Team Regular
You recommend mining Tubbz? What other options are there? Does mining have the highest RoI over 1m, 3m, 6m, 12m, or are other sectors powering on at a greater pace?
Where can I buy Bitcoin, and what is a good site to get advice on investing in it?
Where can I buy Bitcoin, and what is a good site to get advice on investing in it?
upthevilla
Vital 1st Team Regular
Just been on YouTube, and I think bit coin mining, and the mining industry are very different things. :2: :3: :12: Might need a bit more research methinks :21: :23: :16:
TuBBz
Are You Local?
I use a company called Swiss Gold Global
You can sign up here
https://signup.swissgoldglobal.com/en/products?fmid=590070626
That's my referral link, which means I get a bump anytime anyone uses it just so you know I am not being shady in any way
As I said in my original post, I put in £1000 on the 8th June
So far I have collected 0.1515 of BTC
This is currently worth $664.56
Not too shabby is it?
I should have my original investment back by the end of November and then it's pure profit
a lot of people compound their returns which of course increases the mining power you have and therefore the daily payout
There is a video on our facebook group explaining how it all works for I'll see if I can grab it and post it in here
You can sign up here
https://signup.swissgoldglobal.com/en/products?fmid=590070626
That's my referral link, which means I get a bump anytime anyone uses it just so you know I am not being shady in any way
As I said in my original post, I put in £1000 on the 8th June
So far I have collected 0.1515 of BTC
This is currently worth $664.56
Not too shabby is it?
I should have my original investment back by the end of November and then it's pure profit
a lot of people compound their returns which of course increases the mining power you have and therefore the daily payout
There is a video on our facebook group explaining how it all works for I'll see if I can grab it and post it in here
HeathfieldRoad1874
Miserable Sod
Be careful, Tubbz. I did some work with this guy a few years ago, and can highly recommend his opinion.
The latest warning against digital currencies comes from Aberdeen Asset Management's top venture capitalist, Peter Denious. He blames a feeding frenzy of speculation for the explosion in prices and new coins."A lot of lessons will be learned and a lot of money will be lost, before a lot of money can be made," he told Bloomberg News. "It's a gold-rush mentality."
The latest warning against digital currencies comes from Aberdeen Asset Management's top venture capitalist, Peter Denious. He blames a feeding frenzy of speculation for the explosion in prices and new coins."A lot of lessons will be learned and a lot of money will be lost, before a lot of money can be made," he told Bloomberg News. "It's a gold-rush mentality."
danvilla2
I’m not an expert
Hope you do well from it Tubbz, I'll keep an eye on it.
I struggle with the risk associated, in my simple mind the reason it's gaining value is because people are buying into hence the value is going up - simple supply and demand.
It isn't physical, currency (though I get currency is in effect a piece of paper), there is no protection from a bank or company, and its based on computers, algorithms and people to check...
It sounds like a too good to be true, UNLESS you pick the right to get out before it either crashes or stalls (maybe that's around $10k) whilst there are lots of people thinking it's a quick way to get rich.
A friend of the family was telling me he bought some the other month, he's from a wealthy family but doesn't have an ounce of brain matter between his ears. That to me was enough to stay clear, if I had a few $k to flutter I might be tempted but a few $k to me is precious.
Personnally I max out my work pension and putting a fair chunk of my disposable into a lifetime ISA each month on Hargreaves Lansdown so I can choose a large range of shares or investments, plus I get a brucey bonus from the government and the tax shield. In the long run I'll cover myself hitch it wont be enough to retire at 40 granted.
I struggle with the risk associated, in my simple mind the reason it's gaining value is because people are buying into hence the value is going up - simple supply and demand.
It isn't physical, currency (though I get currency is in effect a piece of paper), there is no protection from a bank or company, and its based on computers, algorithms and people to check...
It sounds like a too good to be true, UNLESS you pick the right to get out before it either crashes or stalls (maybe that's around $10k) whilst there are lots of people thinking it's a quick way to get rich.
A friend of the family was telling me he bought some the other month, he's from a wealthy family but doesn't have an ounce of brain matter between his ears. That to me was enough to stay clear, if I had a few $k to flutter I might be tempted but a few $k to me is precious.
Personnally I max out my work pension and putting a fair chunk of my disposable into a lifetime ISA each month on Hargreaves Lansdown so I can choose a large range of shares or investments, plus I get a brucey bonus from the government and the tax shield. In the long run I'll cover myself hitch it wont be enough to retire at 40 granted.
HeathfieldRoad1874
Miserable Sod
Good post, Dan. Very sensible approach,candidate good analysis of bitcoin.
If you get out at the right time, I'm sure you make a lot of money, but after 20 years in the Investment industry, I've rarely seen it happen as planned. The tendency is to go too long, and miss the peak.
danvilla2
I’m not an expert
I'm thirty so I have friends and relatives who are at the stage when they have a bit of spare cash, want to get richer and are semi thinking about retirement.
The point that's hard to explain, is that by reducing the amount of tax you pay, you are winning! Generally that money isn't coming back unless something dramatic happens to your personal circumstances which leaves you in a net worse position.
Talking about being smart and reducing your tax liability isn't as sexy as winning thousands on a stock but in the long run if you can reduce your tax liability and gain on the markets the you've won twice.
Well that's how my simple head thinks how this stuff works anyway :9:
The point that's hard to explain, is that by reducing the amount of tax you pay, you are winning! Generally that money isn't coming back unless something dramatic happens to your personal circumstances which leaves you in a net worse position.
Talking about being smart and reducing your tax liability isn't as sexy as winning thousands on a stock but in the long run if you can reduce your tax liability and gain on the markets the you've won twice.
Well that's how my simple head thinks how this stuff works anyway :9:
TuBBz
Are You Local?
lol, for sure Dan, isn't that the dream, to pay less tax
Not sure how to answer your above question but I'll try
If you are to buy BTC then you will be giving your 'money' to someone who wants to sell them
So let's say you have £1000 to invest in BTC
If you purchased £1000 worth by the price it is right now, you would get 0.3125 of a BTC
Current price of a BTC is £3204.22
So if the price of BTC hits say £10K by the end of the year, then your £1000 investment would be worth £3125
If you sold those BTC's then that money would go into your account as hard cash or if you have an account with someone like Xapo then they will give you a visa debit card that you can use like any other card
I am not personally mining with my own equipment
I am using Swiss Gold Global who get their BTC mining from Genesis Mining
This way I get a daily payout that will carry on collecting BTC above and beyond the time I get my investment back
Yes, of course, BTC could crash and I could lose my £1000, however, this is highly unlikely
I hope I answered it but not sure if I did lol
Not sure how to answer your above question but I'll try
If you are to buy BTC then you will be giving your 'money' to someone who wants to sell them
So let's say you have £1000 to invest in BTC
If you purchased £1000 worth by the price it is right now, you would get 0.3125 of a BTC
Current price of a BTC is £3204.22
So if the price of BTC hits say £10K by the end of the year, then your £1000 investment would be worth £3125
If you sold those BTC's then that money would go into your account as hard cash or if you have an account with someone like Xapo then they will give you a visa debit card that you can use like any other card
I am not personally mining with my own equipment
I am using Swiss Gold Global who get their BTC mining from Genesis Mining
This way I get a daily payout that will carry on collecting BTC above and beyond the time I get my investment back
Yes, of course, BTC could crash and I could lose my £1000, however, this is highly unlikely
I hope I answered it but not sure if I did lol
Silhillvilla
Vital Football Legend
What's wrong with a 3 year fix ISA at 2% ?
Kids today eh
Kids today eh
HeathfieldRoad1874
Miserable Sod
If I'm reading this right, at today's price of $2997, then your investment is now worth £454?
BringbakMON
Vital Football Hero
leaving the xbt volatility aside, I'd suspect the initial 'investment' is under greater risk from the mining contract and the ponzi marketing of the contract.
I suppose there's a reason the mining co and everyone else in the chain sell 'contracts' rather than make gazillions themselves ?
I suppose there's a reason the mining co and everyone else in the chain sell 'contracts' rather than make gazillions themselves ?
HeathfieldRoad1874
Miserable Sod
That's the double danger of these schemes. You've got the currency fluctuations and the pyramid nature. Once people stop buying in at the bottom, it all collapses.
I've never seen anyone time the sale of their assets at just the right time every time.
It's a huge risk, with possible big gains, but is one worth the other?
I've never seen anyone time the sale of their assets at just the right time every time.
It's a huge risk, with possible big gains, but is one worth the other?
