Crypto

[itsybitsy]

Does anyone else dabble in this? I have some - mainly bitcoin, most of which I obtained free through the use of faucets etc., but I have invested some $$ since the price has dropped, and I made quite a lot of profit on some Doge I had when Elon Musk started tweeting about it and I dumped my entire holding when the price shot up.

Thought if there's any other interested parties we could get a convo coing.

If crypto isn't your thing - just please scroll by - no need for any negativity. Thanks.

[Frnc]

Not me personally, but I did used to know someone who made a living from crypto trading. No idea how much money he made, but that was his full time work, working for himself. He probably mentioned what currencies, but I can't remember.

[steptoe]

I just do not understand it and when you do not understand it i say steer clear , a friend use to run his money through it if you get the reason why , but like stocks and share i do not understand them either so i keep my money in my pocket.

[Bijela]

Popped £300 in it as I don't really get it. I was in case it becomes something bigger for my kids. I kind of get that Bitcoin is limited, but don't think its backed up by anything.

[follosdin]

I've mainly dealt with Bitcoin, acquiring some through faucets and investments. Made a nice profit on Doge during Elon Musk's tweets. By the way, how do you feel about AI crypto trading? Anyone up for a chat about it? If not interested, no worries, just scroll on.

[jansman]

I've mainly dealt with Bitcoin, acquiring some through faucets and investments. Made a nice profit on Doge during Elon Musk's tweets. Anyone up for a chat about it? If not interested, no worries, just scroll on.

Pop an introduction into the New Member section before proceeding. Thanks.

[follosdin]

I've mainly dealt with Bitcoin, acquiring some through faucets and investments. Made a nice profit on Doge during Elon Musk's tweets. Anyone up for a chat about it? If not interested, no worries, just scroll on.

Pop an introduction into the New Member section before proceeding. Thanks.

OK, thank you

[theScepticalPrepper]

> I kind of get that Bitcoin is limited, but don't think its backed up by anything.

Late to the party, but I've had an interest in Bitcoin for some time and have a modest amount so can try to explain this. What a lot of people don't understand is that the currencies we use every day: pounds, euros, dollars, etc aren't backed by anything and haven't been for a long time. A lot of people think the coins in their pocket still contain precious metals. This hasn't been the case for a long time either-they're made from cupro-nickel alloys that are worth a lot less than the face value of the coin.

The key difference with Bitcoin is that the supply is algorithmically controlled with Bitcoin generated at a very predictable rate and not subject to the whim of any one party. This is in stark contrast to the BoE in the UK and the Federal Reserve central bank in the US who have printed very large amounts of money at times of crisis. The inflation we've been suffering through has been a direct result of that.

Those who invest in Bitcoin and precious metals have long been wary of so called helicopter money being issued and hyper inflation as a result. While we never got as bad as countries like Argentina, it caused a real problem for a lot of people.

[itsybitsy]

My bitcoin has gone through the roof

[Yorkshire Andy]

My bitcoin has gone through the roof

Hello friend