Hi, I’ve been reading a lot Bitcoin trying to get an understanding of how it works but it’s still a mystery. Can I ask how others understand it, why is there so much talk about it, is it a fad or is it real and the future? Thanks

Hi Alex,

Bitcoin is a Digital Currency created to provide consumers with an alternative payment method not reliant on the banks.

It is a great opportunity if you have the interest to get involved.

I am more than happy to provide you with more information, including a lot of videos on my Facebook account. If you would like to contact me for more information.

Thanks,

Jacqui

First question, what is Bitcoin? Here is great book by the brother of one of my mates that explains Bitcoin in basic terms. https://www.independentreserve.com/Education/Book I really suggest you read this first - before doing anything.

The book describes that Bitcoin is like what today's currency is, to what emails were like when they wee first introduced to replacing handwritten/typed letter. In is a really simple and good analogy. The technology behind Bitcoin (Blockchain) is the major attraction to many industries. Bitcoin investing is like any other investment, it has risk. The recent returns have been fantastic but like any investing - there is no crystal ball.

Investing in Bitcoin itself is fairly basic, you need to open an account with someone like Independent Reserve, which does require a formalised indentification process and then you transfer $AUD into the account and buy as much or as little Bitcoin (BTC) that you like. I believe their minimum may be $100. You don't have to buy a Single BTC, you can just invest money amounts. I believe there are limits on the amount you can transfer into your account on a daily basis of $5,000, but this may have changed.

Like investing, there are other options, including other Cyrpto Currencies to invest in and many tools to use, with buy and sell margins. Another option may be to investigate something like USI Tech which is involved in other aspects of the cryptocurrency market.

I hope this assists with answering your questions and if I can assist with any other questions or information, please ask.

Look up the Great Tulip Bulb Crash of 1634.
Bitcoin is Tulip Bulbs waiting to happen.
Anyone who invests in currency that has no backing anywhere from any government might as well be putting it all on N06 in Race 4 at Randwick.
Seriously: If you cannot see the risk in investing in something that has gone up a gazillion percent in 12 months, doesn't DO anything, doesn't EARN anything, and is only going up in value because of public hysteria over the value of Bitcoin; well then rip in. I hope you do well. But know the risks.

read this:

https://www.cnbc.com/2017/07/20/bitcoin-bubble-dwarfs-tulip-mania-from-400-years-ago-elliott-wave.html
bc