What Is Crypto Currency ?

[Zach Clay]

33 minutes ago, Vrsaljko said:

It's essentially just digital money which is independent from central banks. I bought £250 of Bitcoin about five years ago and sold it recently for £2,000. A nice little profit.

Should've hung on to it a little longer its current value is £56,000

[Vrsaljko]

2 minutes ago, Zach Clay said:

Should've hung on to it a little longer its current value is £56,000

I couldn't unfortunately. I'm waiting to start a new job and I'm getting low on funds, so I had to cash it in. Plus whenever I sold it the price was likely to go up afterwards seeing as Bitcoin is on an upwards trend.

[Meltman]

3 hours ago, pattricia said:

It’s all about this in the news, but what is it or was it ?

Good question Pattricia, I don't know either!

[bassett one]

i thought it was all a con and everyone lost cash, is it you need a decent company or is it high risk?

[Vrsaljko]

1 minute ago, bassett one said:

i thought it was all a con and everyone lost cash, is it you need a decent company or is it high risk?

It can be high risk as the price goes up and down quite a lot in a short space of time. Although if you look at the price chart for the last few years it's been steadily going up over time and is currently shooting up. If you just bought some and left it for a few years you'd likely get a reasonable return on your money though as things stand, unless the government totally banned it or something. You don't need a company to purchase it and anyone is free to buy it. Here's the price chart since 2016;

 

 

[Zach Clay]

47 minutes ago, bassett one said:

i thought it was all a con and everyone lost cash, is it you need a decent company or is it high risk?

I bought mine for £16,000 and now its £56,000

 

It actually went up to $65,000 during lockdown

[pattricia]

9 hours ago, Padders said:

Crypto Currency goes up and down more than George Clooney. Pat.

Had to laugh at this !

[Resident]

On 28/03/2024 at 14:35, Vrsaljko said:

It's essentially just digital money which is independent from central banks. I bought £250 of Bitcoin about five years ago and sold it recently for £2,000. A nice little profit.

I'm truly gutted about Bitcoin.

Right at the beginning I'd mined 20 full coins in about a week. When they hit ~£500ea  towards the end of 2013 I stupidly sold them, mainly because there was talk of a crash due to a rumoured new crypto coming & the fact that no-one really knew if it was staying so it was a panic sale.  I made just over £10,000. Paid off the last of my parent's mortgage with it. 

Had I kept my 20 bitcoins and sold them at it's historic highest then I'd have made just short of £1.2 million. 😖

[SheffieldForum]

25 minutes ago, Resident said:

I'm truly gutted about Bitcoin.

Right at the beginning I'd mined 20 full coins in about a week. When they hit ~£500ea  towards the end of 2013 I stupidly sold them, mainly because there was talk of a crash due to a rumoured new crypto coming & the fact that no-one really knew if it was staying so it was a panic sale.  I made just over £10,000. Paid off the last of my parent's mortgage with it. 

Had I kept my 20 bitcoins and sold them at it's historic highest then I'd have made just short of £1.2 million. 😖

Yup. Similar story here.

 

I have a handful of Bitcoin and Etherium (only relatively recently bought), but I wish I’d have held at the start.

 

Not as bad as some friends though, who basically lost their wallets on old computers and would essentially be multi-millionaires now.

[Resident]

1 minute ago, SheffieldForum said:

Yup. Similar story here.

 

I have a handful of Bitcoin and Etherium (only relatively recently bought), but I wish I’d have held at the start.

 

Not as bad as some friends though, who basically lost their wallets on old computers and would essentially be multi-millionaires now.

Still not quite as bad as THIS GUY.

TBH he has zero chance in finding it, especially intact. 

8000 BTC is worth around £443 million as of today's price.