Official saddo financial thread

[walrus]

can you buy any amount or does it have to be quite a high price to buy any in the first place, can you sell them whenever you want or do you have to hold onto them for a certain amount of time.

I've heard all about Bitcoin but haven't really took the time to understand it.

Could you give a brief idiots guide to it please.

Sure @Batman Bitcoin is currently 9,050 per coin. Three weeks ago it at 5,000 per coin. You can buy it fractionally as little as .00000001. That is one satoshi, the smallest. Mine is making me money as I type this. The banking world is getting into Bitcoin in December. You could buy them then sell them as soon as you get them. You can sell 24/7 365. One coin will probably be over 10,000 end of year of that you could buy 200 dollars or less to test it.

I wouldn't suggest anyone get in this until you have learned the basics and the block chain it operates on. Beleive me, so much money is being made so quickly it is impossible to go on forever

[Alpha]

Had a lot of fraud coming through with Bitcoin recently at work.

[walrus]

Had a lot of fraud coming through with Bitcoin recently at work.

What is it. Bad transition or hacking @Alpha

[Alpha]

Had a lot of fraud coming through with Bitcoin recently at work.

What is it. Bad transition or hacking @Alpha

Not sure maybe Bitcoin hacked, lots of credit card fraud appearing as Bitcoin.

[walrus]

Had a lot of fraud coming through with Bitcoin recently at work.

What is it. Bad transition or hacking @Alpha

Not sure maybe Bitcoin hacked, lots of credit card fraud appearing as Bitcoin.

Oh must be stolen credit numbers used to Bitcoin. These big retailers get hacked for millions of customers. They got Home Depot and I'm sure many others. I think that may be more blamed on the credit card hacking. The block chain, which is the software running Bitcoin is, at this point unhackable but I read quantum computing may be able to do it so it's probably a matter of time. Bitcoins weakness is the wallets used to hold them but they are not on blockchain

[Mark TKO]

Just read last few posts in this thread - I have no idea what BitCoin is....

[walrus]

https://www.google.com/amp/s/www.coi...-year-old/amp/

@Mark TKO above you will find a simplified explanation. It's a decentralized currency traded betwixt people with no central bank backing it. I'm surprised so many have not heard of it. When it started it was literally a fraction of a penny. Five dollars invested seven years ago would be worth over a million today. That's no bullshit. Currently this shit is blowing away the returns on the best stocks, mind you I've seen it go from 7,000 to 5,000 three weeks ago and today it's 9,777. Please note I'm not telling anyone or even suggesting you put money in it. I'm just saying look at it, the whole concept of currency with no central bank is an amazing thing. This has been more of a young persons thing. One theory is if the next generation does manage to bring Bitcoin into a widely excepted currency on coin could be worth 190,000. Others say it's a Ponzi scheme and will be worth nothing.

I personally don't know. The Bitcoin pros say it isn't a fiat currency but it is not backed by gold. From what I can tell the real value of Bitcoin is the confidence of people who buy it which to me is fiat. The block chain running Bitcoin is intense. Government and financial institution are adopting it as we speak IBM is one of the top business's in blockchain

[Master]

Just read last few posts in this thread - I have no idea what BitCoin is....

Fake currency that got very popular and worth a lot which is now used by the criminal fraternity to launder their ill gotten gains.