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    (Original post by Randz18)
    There's no traces with bitcoins right?
    Yes and no. Lets say I buy something from you for 1 bitcoin. Anyone can look at the public ledger and see that someone sent someone 1 bitcoin, but they cant see who it was. Bigger purchases stand out more of course and then if you know what id somebody was given (for example by following a persons ID after noticing a big purchase) you can piece things together.
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    (Original post by Ninja Squirrel)
    People said the same when it was $50, $100, $500, $1000, $2000 etc etc. People continue to underestimate bitcoin and it's for this very reason that it makes a fantastic investment opportunity. I believe in 10 years time bitcoin will steal at least 20% of golds market and bitcoin will have a market cap of about $1.4trillion.

    $1.4trillion / 18million bitcoins (approximately) = $77,000 per bitcoin, however I think $100,000 is entirely plausible. Bitcoin is basically digital gold, a store of value.
    Wishful thinking, I'm afraid. There's nothing to base an estimation on, it's entirely speculative. You are essentially betting that other people are going to buy your Bitcoin for more than you paid, sooner or later all such schemes fail.

    Bitcoin is absolutely not digital gold, unlike gold it has no intrinsic value. Gold can be used for all kinds of things (jewellery, technology, industry etc) - Bitcoin is a meaningless bit of code.
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    (Original post by Snufkin)
    Wishful thinking, I'm afraid. There's nothing to base an estimation on, it's entirely speculative. You are essentially betting that other people are going to buy your Bitcoin for more than you paid, sooner or later all such schemes fail.

    Bitcoin is absolutely not digital gold, unlike gold it has no intrinsic value. Gold can be used for all kinds of things (jewellery, technology, industry etc) - Bitcoin is a meaningless bit of code.
    99.99% of all the gold in the world sits in bars doing absolutely nothing but holding its value. Bitcoin does have intrinsic value and that is based on the time and money it takes to create a bitcoin.

    Bitcoins take real world money to generate and therefore they have a real world value. Bitcoin is weightless, it's digital, it doesn't decay, it's borderless, it's extremely secure, it's decentralised and most importantly you and only you control your bitcoins. Bitcoin is still in it's infancy and it has plenty of room to grow.

    If you think bitcoin is at it's height then I think you're incredibly short sighted and you're basing your opinion on the fact that it's digital, like because it's digital it cannot have any real value or something. This is a very naive way of thinking I'm afraid.
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    (Original post by Snufkin)
    And you haven't sold?! People who are still buying Bitcoin are mad! The crash is coming. :yep:
    So would it be bad to buy bitcoin now and invest, since you believe a crash is coming?When the market crashes, would it be best to buy bitcoin then and then invest it, or will it be the end?

    I am a newbie for this type of stuff and I always wanted to get into the market, or some sort of business/entrepreneurship lifestyle because I don't want to be a dentist really ;/ When I turn 16 will I be eligible to trade on the market? I want to take classes and learn, possible take economics etc. in A-level and familiarise my self with the trade.
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    (Original post by mc_miah)
    So would it be bad to buy bitcoin now and invest, since you believe a crash is coming?When the market crashes, would it be best to buy bitcoin then and then invest it, or will it be the end?

    I am a newbie for this type of stuff and I always wanted to get into the market, or some sort of business/entrepreneurship lifestyle because I don't want to be a dentist really ;/ When I turn 16 will I be eligible to trade on the market? I want to take classes and learn, possible take economics etc. in A-level and familiarise my self with the trade.
    Just gunna leave this post here for you, this was posted in 2016 when bitcoin was $800. It's now $6500...

    https://www.thestudentroom.co.uk/sho...0#post69320528

    I would never tell someone they should or shouldn't invest, that is their decision to make and all I can do is give my opinions. Truth is nobody knows if bitcoin will go to $10 next year or $50,000. It's a very speculative market and my one piece of advise would always be, never invest more than you are willing to lose.
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    >buy £20,000 worth roughly half a year ago
    >doubled for a nice £20k profit, sold at $4,000
    >planning on rebuying at $2,500
    >it never happened, was on coinfloor as it went to $3,000 but got greedy
    >FIFTY THOUSAND POUNDS FOR DOING NOTHING, GONE

    Please tell me it will be alright. This keeps me up every night, I am genuinely shaking with rage right now.

    And OP if you buy them. PLEASE, PLEASE don't sell them. This is the worst feeling in the world.
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    (Original post by Snufkin)
    Wishful thinking, I'm afraid. There's nothing to base an estimation on, it's entirely speculative. You are essentially betting that other people are going to buy your Bitcoin for more than you paid, sooner or later all such schemes fail.

    Bitcoin is absolutely not digital gold, unlike gold it has no intrinsic value. Gold can be used for all kinds of things (jewellery, technology, industry etc) - Bitcoin is a meaningless bit of code.
    You will look back at this post in 5-10 years and want to kill yourself.

    You would already have 6x your initial investment if you bought bitcoin when you first posted about them on tsr.
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    (Original post by Ninja Squirrel)
    99.99% of all the gold in the world sits in bars doing absolutely nothing but holding its value. Bitcoin does have intrinsic value and that is based on the time and money it takes to create a bitcoin.

    Bitcoins take real world money to generate and therefore they have a real world value. Bitcoin is weightless, it's digital, it doesn't decay, it's borderless, it's extremely secure, it's decentralised and most importantly you and only you control your bitcoins. Bitcoin is still in it's infancy and it has plenty of room to grow.

    If you think bitcoin is at it's height then I think you're incredibly short sighted and you're basing your opinion on the fact that it's digital, like because it's digital it cannot have any real value or something. This is a very naive way of thinking I'm afraid.
    It doesn't have intrinsic value and that's a fact. What can it be used for (other than as a currency)?

    (Original post by mc_miah)
    So would it be bad to buy bitcoin now and invest, since you believe a crash is coming?When the market crashes, would it be best to buy bitcoin then and then invest it, or will it be the end?

    I am a newbie for this type of stuff and I always wanted to get into the market, or some sort of business/entrepreneurship lifestyle because I don't want to be a dentist really ;/ When I turn 16 will I be eligible to trade on the market? I want to take classes and learn, possible take economics etc. in A-level and familiarise my self with the trade.
    Normally a crash is a good time to invest, sooner or later most stocks go up again. Bitcoin is different. When the bubble bursts and the price falls through the floor (which, at some point, it assuredly will), there's absolutely no guarantee that it will recover. I think it's very likely that when the real crash happens, investors will be spooked and drop Bitcoin like a hot brick. Tulip bulbs never regained their value post-crash, and nor will Bitcoin.
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    (Original post by Snufkin)
    It doesn't have intrinsic value and that's a fact. What can it be used for (other than as a currency)?
    It's use is a secure decentralised asset to store wealth digitally. One thing to remember is something doesn't need a real world application for it to be valuable.[/quote]


    Normally a crash is a good time to invest, sooner or later most stocks go up again. Bitcoin is different. When the bubble bursts and the price falls through the floor (which, at some point, it assuredly will), there's absolutely no guarantee that it will recover. I think it's very likely that when the real crash happens, investors will be spooked and drop Bitcoin like a hot brick. Tulip bulbs never regained their value post-crash, and nor will Bitcoin.
    Bitcoin has "crashed" several times.

    January 2012 it dropped from $7.30 to $3.80 (48% drop)
    April 2013 it dropped from $260 to $73 (75% drop)
    November 2014 it dropped from $1160 to $154 (86% drop)

    and a few other 40% drops too. The 75% and 86% crashes were indeed crashes but the 40% - 50% drops are technically corrections in my opinion. The price gets a little ahead of itself and needs to release some steam so the market has a nice healthy pullback. Obviously a 40% correction in the stock market would be catastrophic but bitcoin cannot be treated like a stock, because it isn't.

    Will there be another 40% correction? Absolutely, I don't doubt it for a second. Will it be now at $6600 or next month at $7000 or next year at $10,000? I have no idea but one things for certain, bitcoin is incredibly resilient and bounces back every time. If it can live through a dozen 50%+ drops and go on to recover in a matter of months and even make new all time highs, I have full confidence this will continue to be the case for many years to come.
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    (Original post by Ninja Squirrel)
    It's use is a secure decentralised asset to store wealth digitally. One thing to remember is something doesn't need a real world application for it to be valuable.

    Bitcoin has "crashed" several times.

    January 2012 it dropped from $7.30 to $3.80 (48% drop)
    April 2013 it dropped from $260 to $73 (75% drop)
    November 2014 it dropped from $1160 to $154 (86% drop)

    and a few other 40% drops too. The 75% and 86% crashes were indeed crashes but the 40% - 50% drops are technically corrections in my opinion. The price gets a little ahead of itself and needs to release some steam so the market has a nice healthy pullback. Obviously a 40% correction in the stock market would be catastrophic but bitcoin cannot be treated like a stock, because it isn't.

    Will there be another 40% correction? Absolutely, I don't doubt it for a second. Will it be now at $6600 or next month at $7000 or next year at $10,000? I have no idea but one things for certain, bitcoin is incredibly resilient and bounces back every time. If it can live through a dozen 50%+ drops and go on to recover in a matter of months and even make new all time highs, I have full confidence this will continue to be the case for many years to come.
    Bitcoin's decentralised nature is not an asset. You don't seriously think governments will allow Bitcoin to become a threat, do you? It's entirely in their interest to make sure Bitcoin does not succeed.

    I was not talking about mini crashes (which is what they were, Bitcoin has always had dramatic price fluctuations). I'm talking about a proper crash, one where Bitcoin's value is totally decimated. The bubble has not burst yet, but it will. They always do.
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    (Original post by Ninja Squirrel)
    I bought at $550 last year and I'm holding until $100,000 per bitcoin which will probably happen in 5 - 10 years


    How many Bitcoins did you buy?

    and I think your target of £100,000 per bitcoin is a bit ambitious, there's a good chance it will never happen, or not happen in your lifetime
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    (Original post by ANM775)
    How many Bitcoins did you buy?

    and I think your target of £100,000 per bitcoin is a bit ambitious, there's a good chance it will never happen, or not happen in your lifetime
    I'm not going to say how many I bought

    What is your reasoning as to why $100,000 (dollars) is unreasonable? You're basing this on nothing more than the price. If we had this conversation 5 years ago when bitcoin was $5 and I were predicting $5000 or even $1000 dollars your answer would be exactly the same, not in our lifetime, it's too high etc but again this would be based on nothing more than the raw value. Essentially you're allowing the raw value to dictate what the limit is.

    $100,000 is far too much therefore it cannot go that high is what you're saying. This is why a lot of people make bad investment decisions because they base their decision purely on the price and not the potential.

    The current market cap for bitcoin alone is about $107billion, this is a hell of a lot of money for something which some users above claim has no value. This money could have been put into gold or stocks or other investments but instead they chose bitcoin. It's completely reasonable to say that in 10 years time, the market cap of bitcoin could be $1.4trillion as more and more people put money into bitcoin instead of traditional investments.

    Bitcoin will always be a drop of water in the ocean compared to the actual stock markets themselves but if bitcoin can absorb even 1% of the stock market (excluding gold) that would give bitcoin a $700billion market cap.

    Let's just be clear for a moment, the governments cannot shut bitcoin down, it's basically impossible therefore the governments best bet is to introduce regulation and actually list it on stock markets as a crypto-asset. That way it's regulated (fraud etc) and it's easily taxed.
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    (Original post by Ninja Squirrel)
    I'm not going to say how many I bought

    What is your reasoning as to why $100,000 (dollars) is unreasonable? You're basing this on nothing more than the price. If we had this conversation 5 years ago when bitcoin was $5 and I were predicting $5000 or even $1000 dollars your answer would be exactly the same, not in our lifetime, it's too high etc but again this would be based on nothing more than the raw value. Essentially you're allowing the raw value to dictate what the limit is.

    $100,000 is far too much therefore it cannot go that high is what you're saying. This is why a lot of people make bad investment decisions because they base their decision purely on the price and not the potential.

    The current market cap for bitcoin alone is about $107billion, this is a hell of a lot of money for something which some users above claim has no value. This money could have been put into gold or stocks or other investments but instead they chose bitcoin. It's completely reasonable to say that in 10 years time, the market cap of bitcoin could be $1.4trillion as more and more people put money into bitcoin instead of traditional investments.

    Bitcoin will always be a drop of water in the ocean compared to the actual stock markets themselves but if bitcoin can absorb even 1% of the stock market (excluding gold) that would give bitcoin a $700billion market cap.

    Let's just be clear for a moment, the governments cannot shut bitcoin down, it's basically impossible therefore the governments best bet is to introduce regulation and actually list it on stock markets as a crypto-asset. That way it's regulated (fraud etc) and it's easily taxed.


    It just seems that your reasoning as to why bitcoin will get to $100,000 is based mostly on hope and nothing concrete.

    True, last year I would not have expected bitcoin to get to $6000 from where it is now, but that doesn't mean it's going to just keep going up and up and up indefinitely. Next year it could be back at $600

    what if some clever cyber boffin somewhere discovers a flaw in bitcoin and starts exploiting it and the flaw becomes known? what will that do to the price?

    what if someone builds a quantum computer 5 years from now and uses it to crack the bitcoin private keys, what will that do the price?

    you're holding out for £100,000 mostly on hype and hope

    anyone hoping to jump on the bitcoin bandwagon now and get 10x or 20x or 50x their return it is probably best imo to leave bitcoin and invest £100 each in some up and coming digital currencies that are still in their infancy and have very low prices ....and hope that one of them takes off, and then your losses from the others will be made up [and more] from the one that explodes
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    (Original post by Ninja Squirrel)
    I'm not going to say how many I bought

    What is your reasoning as to why $100,000 (dollars) is unreasonable? You're basing this on nothing more than the price. If we had this conversation 5 years ago when bitcoin was $5 and I were predicting $5000 or even $1000 dollars your answer would be exactly the same, not in our lifetime, it's too high etc but again this would be based on nothing more than the raw value. Essentially you're allowing the raw value to dictate what the limit is.

    $100,000 is far too much therefore it cannot go that high is what you're saying. This is why a lot of people make bad investment decisions because they base their decision purely on the price and not the potential.

    The current market cap for bitcoin alone is about $107billion, this is a hell of a lot of money for something which some users above claim has no value. This money could have been put into gold or stocks or other investments but instead they chose bitcoin. It's completely reasonable to say that in 10 years time, the market cap of bitcoin could be $1.4trillion as more and more people put money into bitcoin instead of traditional investments.

    Bitcoin will always be a drop of water in the ocean compared to the actual stock markets themselves but if bitcoin can absorb even 1% of the stock market (excluding gold) that would give bitcoin a $700billion market cap.

    Let's just be clear for a moment, the governments cannot shut bitcoin down, it's basically impossible therefore the governments best bet is to introduce regulation and actually list it on stock markets as a crypto-asset. That way it's regulated (fraud etc) and it's easily taxed.
    (Original post by ANM775)
    It just seems that your reasoning as to why bitcoin will get to $100,000 is based mostly on hope and nothing concrete.

    True, last year I would not have expected bitcoin to get to $6000 from where it is now, but that doesn't mean it's going to just keep going up and up and up indefinitely. Next year it could be back at $600

    what if some clever cyber boffin somewhere discovers a flaw in bitcoin and starts exploiting it and the flaw becomes known? what will that do to the price?

    what if someone builds a quantum computer 5 years from now and uses it to crack the bitcoin private keys, what will that do the price?

    you're holding out for £100,000 mostly on hype and hope

    anyone hoping to jump on the bitcoin bandwagon now and get 10x or 20x or 50x their return it is probably best imo to leave bitcoin and invest £100 each in some up and coming digital currencies that are still in their infancy and have very low prices ....and hope that one of them takes off, and then your losses from the others will be made up [and more] from the one that explodes
    Bit coins gambling you don't know what can happen right?
    Posted on the TSR App. Download from Apple or Google Play
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    (Original post by ANM775)
    It just seems that your reasoning as to why bitcoin will get to $100,000 is based mostly on hope and nothing concrete.

    True, last year I would not have expected bitcoin to get to $6000 from where it is now, but that doesn't mean it's going to just keep going up and up and up indefinitely. Next year it could be back at $600

    what if some clever cyber boffin somewhere discovers a flaw in bitcoin and starts exploiting it and the flaw becomes known? what will that do to the price?

    what if someone builds a quantum computer 5 years from now and uses it to crack the bitcoin private keys, what will that do the price?

    you're holding out for £100,000 mostly on hype and hope

    anyone hoping to jump on the bitcoin bandwagon now and get 10x or 20x or 50x their return it is probably best imo to leave bitcoin and invest £100 each in some up and coming digital currencies that are still in their infancy and have very low prices ....and hope that one of them takes off, and then your losses from the others will be made up [and more] from the one that explodes
    Of course I'm hoping the price will rise to $100,000 (dollars, not pounds...) but my numbers are backed up by actual feasible statistics. Bitcoin is growing which is a fact, it's popular than ever and as long as it's popularity grows, so does its potential for price increase.

    A quantum computer in 5 years is highly unlikely and even then the bitcoin community can change the encryption algorithm to make it quantum proof. See Ethereum's explanation on Lamport signatures for details https://github.com/ethereum/EIPs/issues/28. Cracking a private key just isn't possible, a quantum computer would still need billions of years to brute force the encryption.

    The source code has been open source for 8 years and secures $100billion worth of bitcoin, if there were a bug to exploit free coins it would have been found already. It's almost impossible to get free bitcoins because the issuance of said bitcoins is controlled via mathematical proofs which are impossible to exploit because mathematics doesn't have exploits...

    I will sell either when I sense it's the right time or when I need the money. Anyone is thinks bitcoin is going away doesn't understand the underlining value of a decentralised digital secure asset which the user has complete and sole control over. I would not want to be invested in gold now that's for sure.

    (Original post by Randz18)
    Bit coins gambling you don't know what can happen right?
    Well technically any investment is gambling.
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    when farmers, taxi drivers start talking about investing in something

    you know now is the time to sell...

    bitcoin is getting hyped and so is etherium, they may crash
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    (Original post by emprex)
    when farmers, taxi drivers start talking about investing in something

    you know now is the time to sell...

    bitcoin is getting hyped and so is etherium, they may crash
    Incorrect, if anything that's more of a reason to invest because it proves adoption is becoming wide spread.
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    (Original post by Ninja Squirrel)
    Incorrect, if anything that's more of a reason to invest because it proves adoption is becoming wide spread.
    nice, tell that to the people who invested before the dotcom crash
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    (Original post by emprex)
    nice, tell that to the people who invested before the dotcom crash
    And yet the market has fully recovered and going on to make new all time highs. Yes it's unfortunate if you got in right at the very top but bitcoin is not a stock or a commodity or a currency, it's a completely new type of investment.

    Bitcoin and the more advanced cryptocurrencies like Ethereum are more like technologies than companies or assets. At the end of the day people have been calling bitcoin a bubble since it broke $100 and it very well may be but I have enough confidence that it still has much room to expand before it happens. I'm also invested in Ethereum.
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    :lol: Some of the stuff Bitcoin fanatics come out with is hilarious, it sounds more and more like a religion. It wouldn't bother me if they kept their ideas to themselves, but they always seem to be trying to convert other people.
 
 
 
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