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Thisoldbird | 20:29 Wed 10th Jan 2024 | How it Works
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I know nothing about these other than someone warned about loosing money. 

 

I've non to invest but just curious are they really a 'thing'..do people expect to make big money..if so how dies it work, please 

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Sorry, Does it work.. predictive txt 

I can't really answer your question, but I would advise to stay clear. Some people are making big money but there are an awful lot of scams so some people are losing a lot.

Some people made a lot of money, but that bubble has burst I think. 

Dies it work is more appropriate😀. Basically it's trading currency - you buy and sell (bitcoins) at currrent prices (which, as the standard warning says, can go down as well as up).  Pure gambling.

Pure gambling with an awful lot of untrustworthy greedy people involved.

Question Author

Thanks for the replies. 

The subject got me thinking when someone I know recently had a good amount of cash via a divorce settlement..seems to be using some to invest in bitcoin.  As I said I've non to invest. 

Investing involves allocating money in various ways, such as stocks or cryptocurrencies, with the hope of earning a return; however, it comes with risks, and success depends on research, diversification, and a long-term perspective. Potential for big profits exists, but losses are also possible, requiring careful consideration and, if needed, advice from financial professionals.

I wouldn't touch it with a bargepole, it's got south sea bubble written all over it.

Someone takes your money and  wont give it  back.

You set up with an internet thief er platform manager a platform ( £1000) and then you use it to notionally buy bit coin or someother internet fraud ( er money) .

and you wait

and if it goes up - you can cash it in ! yippee ! but you cant get it off the platform. it is forever there in some number form and it  means nothing as you can never withdraw.... - or the site disappears

There is a Martin Lewis scam site on this theme, and luckily in front of me - - he dialled THE  number...... and for three days I had to fight off insistent telephone demands for my further card details....

I said to my fren' like havent you learnt not to do this yet? and all I got was a load of poo. ( Greed he believed the hype)

 

Jordan has joined tonight and knows an awful lot  about cryptocurrency

Katie Price?

You buy a bitcoin and hope that in future someone will buy it from you for more than you paid. In the meantime you get no interest or dividends .

It's not easy (though not extremely difficult) to buy bitcoins. In the US approval has been given for bitcoin ETFs which makes it easier. 

Like speculating on gold prices, buy at the right time and sell at the right time and you win-but the opposite is possible. 

 

 

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