Off Topic Bitcoin .

Gold is money , perhaps all off topics should be related to money ? All others deleted ....

Just read that if you had invested $1 in Bitcoin in 2010 it would be now worth $90,026 . I did buy 10 Bitcoin in Aug. 2016 for $793 each . It would be nice if I still had them .....

Did you do your dough?? If so I thought Bitcoin was a scam.

Bitcoin is not a scam . You need to read more about it . At the present time money invested in Bitcoin is US$158 billion . One Bitcoin is now worth AUD$12,679 . I do not own any Bitcoin but I hold other cypto coins . Since the boom times , I have had to hold them or sell them at a loss .

Should have brought some rhodium a few years ago

Minermike wrote:Bitcoin is not a scam .   You need to read more about it .   At the present time  money invested in Bitcoin is   US$158  billion .   One Bitcoin is now worth  AUD$12,679 .   I do not  own any Bitcoin  but I hold other  cypto coins .  Since the boom times , I have had to hold them or sell them at a loss .

Just to put this in perspective, Australian Super funds hold more than 2.7 Trillion dollars. Makes bitcoin fairly small change IMO

https://en.wikipedia.org/wiki/Superannuation_in_Australia

I was just trying to point out that Bitcoin was not a scam IMO. Others will believe it is a scam and the world is flat .

recently an add promoting bitcoin appeared in my e-mail and it certainly sounded great but being in the unsuperanuated pensioner league I thought caution was the order of the day and that is why , miner Mike, I wrote what I did to sus out the territory , as it were..Thank you for replying..dundiggin.

Anyone who was holding Bitcoin at its price peak then offloaded it and used the funds to buy Palladium Bullion
would be doing very well profit wise. Who would have guessed that?

It now seems HAMAS is using Bitcoin to finance terrorism. I know nothing about Bitcoin but it is probably using as transactions of Bitcoin may be easier to hide. These groups will stop at nothing in their efforts to destroy Israel.

And all the crims and druggies !

To day Bitcoin is  AUD$15,598.54 . Well .... at one time I did have 10 Bitcoin , now worth AUD$150,598.54 . In 2016 I paid $793 each not sure if that was Aussie or Yankee dollars ..... Better than investing in shares .

Minermike wrote:To day Bitcoin is  AUD$15,598.54 .  Well  ....  at one time I did have 10 Bitcoin  ,  now worth  AUD$150,598.54 .     

Mike, Think we have all been there one way or another, what's gone is gone, no going back.
Sold an ounce or three back in '82 to the Perth Mint, think it was about $300.00/0z back then. Very happy with a months holiday, Thailand, Hong Kong & Japan.
Wonder what sort of holiday I'd get at todays price?
During the Poseidon boom in the 70's a mate borrowed and bought up big with shares, all the time encouraging me, never did.
Today he lives in a home conservatively valued at $3.5 million.

I simply cannot get my head around something that doesn't actually exist in the real world being worth anything. The price of a bitcoin is it's price not its actual worth. Call me old fashioned but if I cannot see it, hold it or feel it I am very wary of it. Poseidon shares I can understand as it was an actual mine but bitcoin is like fairy farts you cannot hold them in your hand.

granite2 wrote:I simply cannot get my head around something that doesn't actually exist in the real world being worth anything. The price of a bitcoin is it's price not its actual worth. Call me old fashioned but if I cannot see it, hold it or feel it I am very wary of it.  Poseidon shares I can understand as it was an actual mine but bitcoin is like fairy farts you cannot hold them in your hand.

To be honest most transactions today are in digital form.Even a wallet with cash is just a wallet with bits of paper inside.I see no difference in a Bitcoin wallet used to purchase goods or a paywave transaction with a chipped card.
Once the governments start to print money to cover debt our paper money will start to devalue and gold or bitcoin will be the best bartering system.
You can already see when the stock market has a hiccup,Gold and Bitcoin rise together as a safe haven.