Off Topic Bitcoin.

I'd find a new " professional" crypto trader Nero lmao...its now $10600 and rising. Obviously doesn't know what he's talking about. Blockchain and cryptos are going to disrupt the global economy like nothing we've seen in our life times ...imho

Bitcoion is showing us what gold should be doing if it wasn't being manipulated.

Big surge at the moment.

Minermike wrote:Younger people on this forum   should look into   Bitcoin because it is going to  affect  your life.   Last year it increased in value  by 100 %  I expect it to double again this year.  It is already up 79 %    this year.  I did have some that I paid about  $890  for   , they are now worth about $2,400 .  I no longer have them....   Some people predict    that they will go to  $10,000  -$ 50,000  or even $1 million , for one !  Buy one and hold it,  better than buying and selling gold.

Minermike I think you got it right

Been having computer problems .    I bought a little Bitcoin  yesterday  for AUD$17,800  , I thought  afterwards  that I might be a little stupid doing that .   Last sale to day  AUD$22,349  and still going up .

BTW a little was 0.1118 Bitcoin .

Just think I was telling you guys and gals to have a look at Bitcoin . In May you could have bought it for AUD$2,400 . O.K. it is a risk , so is betting on a horse .. If you had taken the risk you might be able to retire now . I think it will still go up for the next 2 weeks.

On Nov . 12 th I bought 0.2341 Bitcoin at AUD$8,500.01 It can drop in price but I think I will still be in front .

It just keeps on powering up in price. A lot of brokers of the CFD instruments have had to change the way they offer it. For instance plus500 use to allow the purchase of 65 bitcoins and now it has a maximium of a third a coin in one trade. They do allow multiple trades though. IG markets now require a million dollar margin to trade bitcoin.
I read somewhere that someone spent 10000 bitcoins for a pizza in the early days!! If true i hope he had plenty more and held onto some so that he doesnt have to think it cost him a 100 million dollars. Living with that kind of regret would be difficult indeed.
Cheers

$25400 on BTC Markets at the MO

Thanks Mike

Litterally no words

Pleased to see it is still going well for you ,Lee . I was worried that you were having problems with that other mob. They never replied to my e-mail . Bit of a thunderstorm going on in Sydney at the moment . Will have wait a bit before going shopping .

No problems mate, I couldn't be happier

Minermike wrote:On Nov .  12 th  I bought   0.2341   Bitcoin at  AUD$8,500.01     It can drop in price but I think I will still be in front .

Was that 8,500.01 per Bitcoin or per 0.2341 Bitcoin.

Do you reckon it is too expensive for ordinary folk to buy Bitcoin now??....Like if I spent 1000 dollars on a bitta Bitcoin now instead of another detector would I be any richer in a couple of years??

A mate mentioned bitcoin to me back in 2009 and I was like "yeah whatever"
Damn it!!!

I bought a bit of a bitcoin when it was 13k and so far I am happy, Lee, just don't pull all yours out at once otherwise the value of mine will be less

It is really amazing how much momentum bitcoin is building, just keeps going up and up. Except for this afternoon..

Cheers Mick

bubbazoo wrote:$25400 on BTC Markets at the MO

You talking Kiwi $ ?
I didn't see that where i look.

adrian ss wrote:

Minermike wrote:On Nov .  12 th  I bought   0.2341   Bitcoin at  AUD$8,500.01     It can drop in price but I think I will still be in front .

Was that 8,500.01 per Bitcoin or per 0.2341 Bitcoin.

Do you reckon it is too expensive for ordinary folk to buy Bitcoin now??....Like if I spent 1000 dollars on a bitta Bitcoin now instead of another detector would I be any richer in a couple of years??

Hey Adrian

Work out what you plan to spend on lotto in the next 6 months or year and 'invest' that.
Rekon your chances would be better.

Great to see some have done well. I hope you guys have an understanding of the effect of the Futures market on your investment. Perhaps you already have an account opening and will utilise the futures to hedge what you have.
The listing on the CME essentially creates a legitimate derivatives market which will be much larger than physical bitcoin, in the same way it does with gold. In the case of Gold the derivatives (paper money) is 10x larger than the physical market. With derivatives the product simply mirrors the price of a commodity. Some of the dangers are related to the fact that institutions using futures and options trading strategies can have great control over prices.

Institutions and other speculators can make money on the rise of said derivative or when it goes down in price via shorting. The way I see it is that the people in the know with vast ammounts of money (their own or fund managers) will utilise these exchanges for the flexibilty and function they offer. Basically there is not much need to own any physical bitcoins for these investors.

The transitional period will be interesting indeed. I hope everyone does well. I havent taken the plunge on any investments, yet do study the financial markets with interest as i hope to one day make some coin on it.

Cheers

Hi Adrian,
It was AUD$8,500.10 for 1 Bitcoin , so I spent about $2,000 . I think it will keep going up , some people say it will go $100,000 per Bitcoin in 2 years. Most of the estimates have been off the mark , too low ! On Independent Reserve you can see the price in USD , AUD and the NZ dollars . At the moment you can only buy Bitcoin , Bitcoin cash and Ethererum from Ind. Res . I hold some Ethereum from June and Oct . this year and I am about 50% ahead . I also buy lottery tickets every week . Think of it as buying and selling shares , you can set up an a/c without putting any money in . Then you can open the trading page an see how it works .

AS you get older it becomes more difficult to dig holes in the wet sand !

interesting stuff this Bitcoin is it hard to buy some ?

Not really  , you just have to jump through all the Gov. hurdles .  You have  to buy   from  a broker , like shares.   To set up an a/c you have to prove  who you are ,  like a new bank a/c .   You can set it up with out putting any money in  and then you can see the trading page and  see how it all works .

 I have an a/c with www.independentreserve.com   in Sydney .   There is another one in Melb .  www.btcmarkets.net

Have a look at https://coinmarketcap.com this gives you a lot of info on all the coins .

Ok thanks Mate i might sell some gold nuggets and buy something like this , my 13 year son told me to buy Bitcoin years ago i though it was kids stuff !!

Wayne .

Buy half a Bitcoin and tell your son he can have it to pay his Uni. fees !

Hes 20 now and no longer a student , so Bitcoin must have been a new currency then ,

Kids we should listen to hey !!

He will help you out to buy some, he most probably knows more about it than me !

Minermike wrote:Just think  I was telling you  guys and gals to have a look  at Bitcoin .  In  May you could have bought it for  AUD$2,400   .  O.K. it is a risk , so is betting on a horse ..  If you had taken the risk you might be able to retire now .   I think it will still go up for the next 2 weeks.  

If, if, if. I find that in nearly all forms of stock or currency trading you live a life of regret. Rarely are you happy with your decisions when given the benefit of hindsight. I recently made 45% on Artemis (Pilbara gold) in 10 days, and I was still kicking myself that I didn't buy sooner. Kicking myself when I've made a 45% profit in 10 days. That's what I mean, always what if.

This was in this Sundays Age News Paper
http://www.theage.com.au/business/markets/currencies/bitcoin-retreats-as-start-of-futures-trading-nears-20171208-h01q7z.html

wombat

Interesting that whenever I try to get onto a particular Bitcoin live price tracker my computer freezes and Google drops out.

I just follow the price on Independent  Reserve .  Due to their size  other brokers have different prices .

Try this one https://bitcoinwisdom.com

I've just noticed my data usage has shot up since I've been monitoring the prices.
Mainly on the bottom of the Kitco site.

Alan WA wrote:

bubbazoo wrote:$25400 on BTC Markets at the MO

You talking Kiwi $ ?
I didn't see that where i look.

Go to Buy Sell BTC choose historical chart 1 Month the price was $25.490 at 11.00 on the 8Th Dec on the aussie btc markets Alan WA

Dave

Looks like Bitcoin is catching its breath before moving up again !