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  1. #1
    Trusted Tech 50+ Posts rbazan's Avatar
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    Who is investing in Bit Coins-

    Is anyone investing in Bit Coins- is it safe?

  2. #2
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    Who is investing in Bit Coins-

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    Re: Who is investing in Bit Coins-

    Great topic!

    I know a guy who has bought three Bitcoin miner/computer machines. I do not fully understand it but I know these machines use a lot of electricity.

    I have seen Youtube videos of hundreds of BitCoin miner machine in one shed in China. And then the camera pans out to reveal five sheds.

    YouTube

    It is hard to spend Bitcoins on real things.

    Supposedly the returns have been fabulous but depending on when you got in you might be late to the party.

    There was a news story where BitCoin was hacked!

    Mt. Gox - Wikipedia


    It is basically a casino. If you are thinking about it and can not stand to lose $10k walking around money, 151%, of course, it is not safe! Do not be a schmuck!

    20 years ago I was at the great casino of the American stock market. I lost $60,000.00 USD in two days on a stock called Broadcom. I was margin called and forced to sell. You know how long that takes to pay that off at $500.00 per month! 10 years!

    fugedaboutit!
    Last edited by SalesServiceGuy; 01-13-2018 at 03:50 AM.

  3. #3
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    Who is investing in Bit Coins-

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    Re: Who is investing in Bit Coins-

    I wish I could remember the author of the article but there was a report recently of a guy who made a mistake and to "clean up his mess" he deleted a ton of data related to bitcoins costing a lot of folks a lot of money. No thanks. I know for a fact that there are ways of making crypto currency work and make real money but that's too much time and capital for my tastes.


    Edit: found the article.

    '$300m in cryptocurrency' accidentally lost forever due to bug | Technology | The Guardian

  4. #4
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    Re: Who is investing in Bit Coins-

    My attitude is that BTC trading is safer then any other type of trading. Today it becomes even simple thanks to the different tools I use for it. My favorite one is https://3commas.io/blog/best-cryptoc...o-tracker-apps providing enough information about main details of trading. And bringing good profit, as a result.

  5. #5
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    Who is investing in Bit Coins-


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    Re: Who is investing in Bit Coins-

    Quote Originally Posted by AnaDorr View Post
    My attitude is that BTC trading is safer then any other type of trading. Today it becomes even simple thanks to the different tools I use for it. My favorite one is https://3commas.io/blog/best-cryptoc...o-tracker-apps providing enough information about main details of trading. And bringing good profit, as a result.

    Old news. The original post was 2018

  6. #6
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    Who is investing in Bit Coins-


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    Re: Who is investing in Bit Coins-

    I was looking into it,still dont fully understand it. From what I learned is that bitcoin itself is unhackable,the exchange where your bitcoin is stores is hackable. So to protect yourself you are supposed to transfer your bitcoin as soon as it hits your account,to a electronic wallet. I have bought one,not used it yet and not sure if I am gonna invest in bitcoin or not. The electronic wallet looks pretty much like a USB stick. You set up elaborate passwords ect. It was a while back when I was looking int this so I dont remember all the details.

  7. #7
    Retired 10,000+ Posts slimslob's Avatar
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    Re: Who is investing in Bit Coins-

    Quote Originally Posted by AnaDorr View Post
    My attitude is that BTC trading is safer then any other type of trading. Today it becomes even simple thanks to the different tools I use for it. My favorite one is Top 5 Best Crypto Portfolio Tracker and Management Apps 2020 Reviewed providing enough information about main details of trading. And bringing good profit, as a result.
    Quote Originally Posted by Hansen88 View Post
    I was looking into it,still dont fully understand it. From what I learned is that bitcoin itself is unhackable,the exchange where your bitcoin is stores is hackable. So to protect yourself you are supposed to transfer your bitcoin as soon as it hits your account,to a electronic wallet. I have bought one,not used it yet and not sure if I am gonna invest in bitcoin or not. The electronic wallet looks pretty much like a USB stick. You set up elaborate passwords ect. It was a while back when I was looking int this so I dont remember all the details.
    You need to join the current discussion. Started 3 weeks ago. Anyone into Cryto currency?

  8. #8
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    Re: Who is investing in Bit Coins-

    The safer The business is, the fewer incomes it generates. Before starting a business, decide for yourself if you will risk it or not. This is a decisive moment that will stay in the long run. Cryptocurrency indeed is a precarious business. Look at the dynamics of bitcoin and see how unpredictable it was in the past. In general, I suggest you two sick financial help. A professional coach will most likely answer your questions, here is an article that you might like https://wealthtender.com/guide/top-financial-advisors-houston-tx/
    Last edited by LogicWRLD; 05-19-2021 at 03:54 PM.

  9. #9
    Retired 10,000+ Posts slimslob's Avatar
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    Re: Who is investing in Bit Coins-

    Quote Originally Posted by Astarta View Post
    I think it's some sort of a scam. Someone is going to make serious money on that, and I am not referring to people in this case. Because imagine, when you invest in something (mainly a business), you have to analyze the performance of that company and the possibility to hold that performance on a long-term base. On other hand, Bitcoin is super controvert, many countries are thinking about banning it due to the impossibility to control transactions. How to invest such sums of money in something that can be closed tomorrow? Better buy some stocks on investous.com and earn a bit of extra money, thank risk with crypto.
    The only scam that I associate with bit coin is ransom ware.

  10. #10
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    Who is investing in Bit Coins-


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    Re: Who is investing in Bit Coins-

    Quote Originally Posted by Astarta View Post
    I think it's some sort of a scam. Someone is going to make serious money on that, and I am not referring to people in this case. Because imagine, when you invest in something (mainly a business), you have to analyze the performance of that company and the possibility to hold that performance on a long-term base. On other hand, Bitcoin is super controvert, many countries are thinking about banning it due to the impossibility to control transactions. How to invest such sums of money in something that can be closed tomorrow? Better buy some stocks on investous.com and earn a bit of extra money, thank risk with crypto.
    Maybe there are ways I am not thinking about but I dont think the government could close down bitcoin if they wanted to. It does not originate in this country and You invest totally online. When doing my taxes there was a question if you invested in bitcoin. I think they are asking on the honor system. I am not sure that they could know if you had money in bitcoin or not.

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