topic Has anyone invested in 'bitcoins? in Community Chat

Has anyone invested in 'bitcoins?

cherry — Fri, 20 Sep 2019 23:41:05 GMT

I am not trying to pry, but ,I just wonder what appeal they have? It seems to me that it is all risk ,and no benefit. Perhaps I don't understand the process?

Re: Has anyone invested in 'bitcoins?

on the bay — Fri, 20 Sep 2019 23:45:21 GMT

No matter how many times it is explained, I don't get it.

It seems like savings or investing in cyberspace or the twilight zone.

Re: Has anyone invested in 'bitcoins?

suzyQ3 — Sat, 21 Sep 2019 00:04:52 GMT

I think that we will see that cyber currency will be our future. It won't be bitcoin or similar current itireations but much more safe and user-friendly.

Re: Has anyone invested in 'bitcoins?

Mz iMac — Sat, 21 Sep 2019 01:13:23 GMT

"If it looks to good to be true........."

Re: Has anyone invested in 'bitcoins?

blackhole99 — Sat, 21 Sep 2019 01:27:42 GMT

My son got in on it when it was very cheap, made a mint when he sold most of it when it went through the roof. Don't worry if you don't understand it, buy as much of it as you can if you can afford it. My son is not buying it now because it's too expensive, but he still has some left from when he bought it cheap. Bitcoin is not the only crypto currency out there, so look for one that is cheaper and buy that, my son has done that. I wish I would have listened to him and bought bitcoin a few years ago when he did. The banks in the US don't want people to use crypto currency, it will cut into their business.

Re: Has anyone invested in 'bitcoins?

Mom2Dogs — Sat, 21 Sep 2019 01:34:36 GMT

I wanted to buy a small amount several years ago....my financial advisor advised against it. I was willing to lose what I had invested, I was doing it for fun and hoped it would pan out financially....even if I didn't make much.

Re: Has anyone invested in 'bitcoins?

suzyQ3 — Sat, 21 Sep 2019 01:41:44 GMT

I would not invest in any current crypto currency at this point. It's in its infancy and far less reliable than most other investments.

Re: Has anyone invested in 'bitcoins?

MamaWick — Sat, 21 Sep 2019 01:57:13 GMT

I wish we had

Re: Has anyone invested in 'bitcoins?

Drythe — Sat, 21 Sep 2019 02:01:52 GMT

@blackhole99 wrote:
My son got in on it when it was very cheap, made a mint when he sold most of it when it went through the roof. Don't worry if you don't understand it, buy as much of it as you can if you can afford it. My son is not buying it now because it's too expensive, but he still has some left from when he bought it cheap. Bitcoin is not the only crypto currency out there, so look for one that is cheaper and buy that, my son has done that. I wish I would have listened to him and bought bitcoin a few years ago when he did. The banks in the US don't want people to use crypto currency, it will cut into their business.

@blackhole99

I did the same as your son.

Glad I did.

Re: Has anyone invested in 'bitcoins?

Kachina624 — Sat, 21 Sep 2019 02:15:43 GMT

I don't understand it and always figured it was a tax dodge for rich people, which doesn't apply to me.

Re: Has anyone invested in 'bitcoins?

BirkiLady — Sat, 21 Sep 2019 04:14:08 GMT

If I can't comprehend it, I won't invest in it. My brain couldn't wrap itself around it and I didn't take the plunge. Have no regrets. Realize money was made in the early days, but have no regrets. Still don't understand it!!

Re: Has anyone invested in 'bitcoins?

Desertdi — Sat, 21 Sep 2019 06:08:44 GMT

NO WAY......(and you won't find me at the race track, either)

Re: Has anyone invested in 'bitcoins?

CelticCrafter — Sat, 21 Sep 2019 11:39:56 GMT

@on the bay wrote:
No matter how many times it is explained, I don't get it.
It seems like savings or investing in cyberspace or the twilight zone.

@on the bay I even read an article that was geared towards 5th graders and still didn't get it!

Re: Has anyone invested in 'bitcoins?

cherry — Sat, 21 Sep 2019 12:08:39 GMT

Thank you to all ,that says they don't get it. I kept thinking ,I must be a very dim person. It makes no sort of sense to me...

Re: Has anyone invested in 'bitcoins?

Cats3000 — Sat, 21 Sep 2019 13:40:19 GMT

NO!!!!!!! I don't consider Bitcoin to be an "investment". I consider quality stocks and bonds, held over time, to be investments.

Re: Has anyone invested in 'bitcoins?

MarieIG — Sat, 21 Sep 2019 14:29:33 GMT

Me, no. In my opinion it is still too speculative/ unregulated.

I do know someone who bought in early; sold it and it is covering a large portion of the purchase of his first home.

As technology and the laws regulating it evolve, I anticipate that crypo currency will become more mainstream - however whether bitcoin will be a survivor - I don't know.

Re: Has anyone invested in 'bitcoins?

wagirl — Sat, 21 Sep 2019 14:50:16 GMT

I don't understand bitcoins either--my nephewinvested $10,000 in bitcoin that increased in value to a $100,000 in just a short time, only to have it tank for what ever reason and he lost his investment $$.

Re: Has anyone invested in 'bitcoins?

kitty60 — Sat, 21 Sep 2019 19:13:23 GMT

I agree with you on this. My dil friend's husband supposedly made large a sum by investing in the mining of bitcoins. They gave her a copy of the sheet of what they were given to see if she would be interested. I looked it over and all I saw was a basic excel sheet with some computations. It was definately not generated by a real company! Think B Madoff! Honestly, I have never seen crypto as a method of payment anytime I've purchased anything. I'll stick to the Peter Lynch theory and stick to what I understand. If I want to gamble I will go to Vegas!

Re: Has anyone invested in 'bitcoins?

tweetyblaise — Mon, 23 Sep 2019 18:51:53 GMT

@on the bay wrote:
No matter how many times it is explained, I don't get it.
It seems like savings or investing in cyberspace or the twilight zone.

I don't get it either @on the bay. I've read explanations and looked at YouTube too.

Re: Has anyone invested in 'bitcoins?

juniors558 — Thu, 25 Jun 2020 10:34:28 GMT

I don't understand bitcoins either--my nephewinvested $10,000 in bitcoin that increased in value to a $100,000 in just a short time, only to have it tank for what ever reason and he lost his investment $$.

Well, of course, it's all about the risks, like almost every niche of financial markets.