Quote Originally Posted by mickd1961 View Post
That’s a very concise explanation 123.

Even though I’m classed as a “businessman” I will admit to knowing almost nothing about B I t c o i n..........how do you even buy and sell it for starters?

Initially to me it felt like someone was trying to sell me Unicorn milk, almost selling something that didn’t exist.

Like me waking up this morning and announcing I’ve got a billion Twongs available at a special price of £1 apiece.

People used to sell The Statue Of Liberty to gullible customers in years gone by.
To buy I used a website called Coinbase but the most popular one now is Binance. You can sell on these websites too, but I've not sold any of my initial investment, so I still don't know what that process involves, but I have friends who have sold theirs previously.

Do a lot of your own research before you do anything and don't take my word for anything - or anyone else's for that matter. I had a good read up for a few weeks before I invested and thought it was a good investment at the time. Also because BTC price has just peaked now, the chances are the price will go down in the coming weeks anyway.

It is hard to buy something which isn't tangible, if you buy Gold, you have something you can touch, feel and hold. You can't do that with BTC. But Gold is similar to BTC in one way, because it is a store of value.

For BTC to ever be adopted and used globally, the price has to stabilise. Its way too volatile at the moment. But, if you had a stable global digital currency you would avoid currency fluctuations in global business transactions - some are known to use multiple currencies for one trade.

Having said that, the volatility makes it exciting when you've invested - especially when the price rockets upwards. I do think one day it will surpass $100k for one BTC and maybe even $250k. But first it could quite easily go down to $5k and then up to $70k and then back down to $10k - it just swings so wildly.