Thursday, 5 December 2013


Before leaving for holiday I made an experimental investment and purchased £45 worth of Bitcoin to see how much value it would gain over 3 weeks until I got home.  I knew value was increasing quite rapidly and suspected I would maybe be able to exchange it back for a £15-£20 profit, the exchange at the time was around 1BTC=130GBP.  One month has now passed and the snowballing demand for the crypto currency now means 1 Bitcoin is £702 and my 0.3555 of bitcoin has a value of £249!!! probably time to exchange some back into £££'s I think? I mean, I dunno, is it?
If you want an explanation of what Bitcoin is you'll get not much more than 30 seconds from me, the majority of people still won't have a clue what bitcoin is at all and most of those that do will like me not really understand fully what it is and how it works.  But it's the future of money, currency that's not regulated and controlled by the big banks, can be transferred 'anonymously', and can be carried around in your laptop or phone as data ready to transfer at the click of a button.  Right now I think crypto currencies are still in their infancy and are only just beginning to be recognised as legitimate and valid, very few places accept bitcoin as payment, and the exchange rate is very volatile.  So I either cash in my experimental investment now before the bubble bursts or I keep it squirreled away until I'm a millionaire.....

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