Bitcoin Good/Bad

[Bigboyuk]

Hi there are banners on here saying that it was on Dragon's Den where 2 entrpetures came on the show (not seen the episode) and the dragons were impressed Deborah Meadon invested £250 lol and in a few mins it made some extra money, so how reliable is it every Dragon was impressed and offers were made to the 2 on the show and they accepted one of the offers, so has any one here done any Bitcoin trading? No knowledge is required business wise or technically as everything is done automatically for you. ATB

[KK77]

Cmrd BBoy! There's a steam train coming straight for you! Move out the way!

I think Bitcoin and other cryptocurrencies are an experiment to gauge whether people are ready for a totally cashless society (which will happen in future). Like cash currency, it can be used for good or evil - that's the nature of money, whether it's regulated or not. There was a hoo-ha recently about certain institutions and countries "banning" its use, but most of the big banks won't because it's a source of umm....money

[Hollow]

I don't believe in virtual currency so I don't think BitCoin money is a good thing. I'm suspicious of where it came from and why it's being promoted so aggressively. There are also question marks over how secure it is and how easily your online wallet can be hacked. Generating BitCoins requires a lot of computing power so there will be a increase in viruses targeting computers for mining purposes.

[KK77]

I don't believe in virtual currency so I don't think BitCoin money is a good thing. I'm suspicious of where it came from and why it's being promoted so aggressively. There are also question marks over how secure it is and how easily your online wallet can be hacked. Generating BitCoins requires a lot of computing power so there will be a increase in viruses targeting computers for mining purposes.

But current online banking can be hacked too. It's just a matter of how sophisticated the hackers are

And ID fraud is an even bigger threat, whereby thieves can obtain and take control of your material assets.

[Lola-Lee]

Stay away from Bitcoin Dave, I have complained too the ombudsman about the number of e-mails I have been getting.keep your monies.

[Bigboyuk]

Cmrd BBoy! There's a steam train coming straight for you! Move out the way!

I think Bitcoin and other cryptocurrencies are an experiment to gauge whether people are ready for a totally cashless society (which will happen in future). Like cash currency, it can be used for good or evil - that's the nature of money, whether it's regulated or not. There was a hoo-ha recently about certain institutions and countries "banning" its use, but most of the big banks won't because it's a source of umm....money

Yeah Capn KK that's one of my main passions Steam Railways Yes quite possible its just the dragons in dragons den totally endorsed Bit Coin in a way to make money quickly. ATB

---------- Post added at 13:12 ---------- Previous post was at 13:10 ----------

I don't believe in virtual currency so I don't think BitCoin money is a good thing. I'm suspicious of where it came from and why it's being promoted so aggressively. There are also question marks over how secure it is and how easily your online wallet can be hacked. Generating BitCoins requires a lot of computing power so there will be a increase in viruses targeting computers for mining purposes.

That's is spot on Hollow so probably isn't that secure. shame really wanted to make some quick money lol. ATB

---------- Post added at 13:13 ---------- Previous post was at 13:12 ----------

But current online banking can be hacked too. It's just a matter of how sophisticated the hackers are

And ID fraud is an even bigger threat, whereby thieves can obtain and take control of your material assets.

Absolutley KK and how secure these sites are, but anything is hackable and quite easily too if it's connected to the interenet then it's not safe IMHO ATB

---------- Post added at 13:16 ---------- Previous post was at 13:13 ----------

Stay away from Bitcoin Dave, I have complained too the ombudsman about the number of e-mails I have been getting.keep your monies.

Thx Lola-Lee so you wouldn't invest then?- And for that reason Iam out LOL ATB

[KK77]

I personally wouldn't invest in BitCoin either. The value could turn to rag-poop overnight because so much of it is invested/created using Dark Web.

But your choice.

[Noivous]

I have yet to meet a person who can explain bitcoin. And some of them actually have invested in it. It just seems so vague.

[mezzaninedoor]

Bitcoin just feels far too risky. im not risk averse generally but crypto currencies feel far too flakey.

Mind you I know some IT Contractors who got in at the right time, sold at the right time and have made a shed load of money.

I would worry far too much if i invested anything material in Bitcoin.

[ankietyjoe]

Any speculative investment is more or less the same as gambling. The entire stock market is little more than a massive game of financial chicken, to see who will fold first.