Bitcoin- going through the roof!

Explain to me what its value is based upon. Rarity value, demand, anything intrinsic? I refer the honourable gentleman to Matt 6.19.

That surely is the problem the value is based on pure speculation as there is no one standing behind the system to back it up. There is no regulation (no doubt why the system was invented in the first place?) I am not altogether sure that Club Together is the right place to promote this either? The system will eventually implode no doubt leaving some very rich people but a lot more a lot poorer. Tulips,South Sea Bubbles, Railway Mania and Dot.Com all spring to mind.

I think that just about sums it up. 

There main use as far as I can see seems to be by scammers who are trying to extort money from folk by locking their computer, blackmail etc. Presumably because it is difficult to trace the accounts location. Although it does not go up much, at least the money in the bank has a guarantee. Better the devil you know etc.😀

From the Spam messages I keep getting it looks very much like "Pyramid Selling". Not interested, if the deal looks too good it usually is.

But where can you use it? To pay utility bills? settle garage bills? buy shares? Waitrose? CAMC renewal?

What use is it if no-one accepts it in payment? 

Sell sell sell If thats what you do with it

<OH DEAR LINK>

Thanks for the link Dave👍🏻, interesting read. I dabble in stocks & shares(lightly) the fact bitcoin isn’t supported by any Govt agencies is enough to ensure I just watch & read. 

I saw something about this earlier on TV.

Thanks, Dave, that article explains quite a lot such as the reasons I never invested. I assume savvy investors sold when the going was good as, like most of us, they’d have realised the bubble was likely to burst at some point.

And a lot have been bought via credit cards (not sure if debit card could be used to get points)