i have found easy way to make lots of money legally

  1. ivor davies Member

    Messages:
    116
    Location:
    mid wales united kingdom
    if something sounds too good to be true ... than it usually is
    I am referring to investing in bitcoin as I have just looked up on the website and it shows number of people who have made a lot of money in a very short time
    can it be done????
     
  2. Tom Orrow L

    Tom Orrow L Welding Supplies Direct

    Messages:
    1,922
    Location:
    Shropshire, UK
    They probably got into it when bitcoin was worth a few pounds per coin, its now just shy of £5000 per coin and is a very volatile crypto currency. Unless you know the market very very well i'd avoid it at all costs.
     
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  3. EAZEE

    EAZEE Member

    Messages:
    189
    Location:
    Kettering, Northants
    A mate of mine is hooked and says he's making money but, the website that he uses is full of spelling errors so probably over seas and run by two blokes that make huge amounts of money. They'll shut down soon and he'll be out of pocket.
     
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  4. Maker

    Maker Krombopulos Michael

    Messages:
    5,430
    Location:
    Earth dimension C-137
    Are you intending to mine or trade it?
     
  5. frank horton

    frank horton V twins are great but 4"s rule.........

    Messages:
    128
    Location:
    manchester, UK
    remember Pyramid selling ?????????? don't bother........trade up for better machines........more value....or.....buy the wife something, she's the most important thing u have......
    I always say if u can't hold it, it's worth nowt.........
    plus them Axxxxholes in suits will find a way to get at it one way or another.......
    EAZEE is spot on.........be nice to have 5,000 grand to spend let alone waste..........hahaha.........
    Frank
     
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  6. rtbcomp

    rtbcomp Moderator Staff Member

    Messages:
    16,108
    Location:
    Sheffield UK
    If you don't understand it, stay clear!

    Exactly, he's probably in the early stages of being conned into it. Next step will be a "too good to be missed opportunity" where he'll have to invest more than he's made and then he'll lose the lot.
     
    slim_boy_fat likes this.
  7. Wozzaaah

    Wozzaaah The wizard of woz Staff Member

    Messages:
    12,951
    Wiltshire, UK
    I think that's the only two lines you need.
    Of course they'll have testimonials from people who say they're getting rich, if they didn't they wouldn't sucker people in.
    My advice is the same as everyone else's, stay clear.
    Someone will be making lots of money but it won't be you.
     
  8. colnerov

    colnerov Member

    Messages:
    2,450
    Location:
    Nr Gatwick UK
    Hi, the trouble is it's ethereal not tangible. It's like a 'Ponsi', it can collapse at anytime.

    Colin
     
  9. pedrobedro

    pedrobedro Man at Matalan

    Messages:
    8,325
    Location:
    CX Derbyshire
    I get at least 8 emails a day trying to get me to join different bitcoin schemes, I don't believe any of them are really trying to make me rich. My theory is if it sounds too good to be true it almost certainly is. They all have an option at the bottom to unsubscribe, I never subscribed in the first place why should I need to unsubscribe ?
     
  10. R-D-R Forum Supporter

    Messages:
    158
    Location:
    Derbyshire - England
    Be careful trading in theory you can make money but its scam central, people are making money on small and large scales mining it. Compute power is key.
     
    Mr Roo likes this.
  11. MrFluffy

    MrFluffy Member

    Messages:
    2,964
    Location:
    Rural France
    Bitcoin mining is great. Currently for those people selling bitcoin mining rigs and hardware.
    Right now, its at the point where you can't make enough to cover the electric it consumes with a pair of reasonable modern gpu's, so the likes of antminer etc become compulsory to make even a miniscule profit. So unless you are prepared to live with a tiny profit but some free heat to heat a space with, even that lacks worth.
    And, it can only get worse as the sums get cryptographically harder as each new coinblock is computed. Plus add to that the amazing self disappearing exchanges where the coin dissapears and it turns out to be some amazing fraud or a break in, then really as per any other form of gambling, you should only invest what you think you can afford to loose.

    Maybe I'm bitter, I looked at bitcoin many years ago, and decided it was too much of a ponzi scheme and unstable with inherent risks to bother tooling up for, if I had of got in the ground then, I'd be quite wealthy by now.
     
    Mr Roo likes this.
  12. brightspark

    brightspark Member

    Messages:
    21,310
    Location:
    yarm teeside
    a fool and there money are easily parted :)ill never be rich but ill never get robbed
     
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  13. wookie

    wookie Can't I have an easy job for once ?

    Messages:
    1,500
    Location:
    Usually under a car in my garage that's halfway up a Welsh mountain
    So no different from the currency issued by every government, after all they can decide to devalue it whenever they choose to.
     
    wyn likes this.
  14. Mr Roo Member

    Exactly as stated: it's a great idea in theory, but given that bitcoin mining relies on what is essentially supercomputers, especially now as the cryptography behind each new coin is more complex than the last, it's far too difficult to get into mining at this stage. You would definitely consume more electricity than you're used to, you would probably exceed your bandwidth with your ISP, and even then, there's not much chance of cracking a coin!

    As for trading, it's not really worth it unless you can afford to buy a substantial amount. And if you can afford to buy a substantial amount, there are easier and safer ways to invest (albeit with lower predicted returns).

    Besides... have they even got good broadband in Wales yet @ivor davies? ;)
     
  15. Olderisbetter

    Olderisbetter Member

    Messages:
    343
    Location:
    Wolverhampton
    Bitcoin..when the bubble bursts it will all be just like bad shares or a pyramid scheme..
     
  16. wookie

    wookie Can't I have an easy job for once ?

    Messages:
    1,500
    Location:
    Usually under a car in my garage that's halfway up a Welsh mountain
    I'm on ADSL at 24+Mbps, my neighbour has fibre at 76Mbps :fighting:

    We need decent internet access because we stay in a lot as it's always raining here, or haven't you heard ? :laughing:
     
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  17. sg66 Member

    Messages:
    146
    Location:
    northeast
    Yes money can be made and bit coin is not the only crypto currency out there, it is however open to huge fluctuations, you could do spread betting on it too, but non of it is risk free. If you van afford to loose it them it's no worse than any other gamble
     
  18. J1nx

    J1nx Member

    Messages:
    77
    Location:
    Somerset UK
    Well maybe I’m the fool on here but I’ve invested small amounts in bitcoin, some via etoro and some via Blockchain and I’ve made modest amounts on both, far exceeding high interest savings accounts.

    I stick to only investing what I can afford to lose and I’m not prone to gambling but obviously this is a form.

    Long term I’m not sure where bitcoin will go, at present it still has a future but it could collapse at any time. The effects of bitcoin becoming common place are unimaginable but unless gov and big business see the benefit I think they will ensure it’s destruction eventually.

    Mining bitcoin is almost irrelevant here now, maybe look at alt coins, Ether is big but following bitcoins and requires slightly different setups, more GPU based.

    Currently I have a bit invested in Ether, Dash and ripple. Balance investments with normal stocks like Amazon, Apple etc and you can carry quite a low risk factor, (ali)baba is interesting at the moment imo.
     
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  19. armalites Member

    Messages:
    1,856
    Herefordshire
    You would probabaly make just as much money posting a video of yourself doing your morning fart everyday on Youtube.
     
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  20. addjunkie

    addjunkie Forum Supporter

    Messages:
    2,490
    Location:
    Northumberland. Reet oot in the sticks
    Dot com boom, polypeck etc...over the years Ive had dealings with loads of folks who were going to make a fortune and retire.

    If it were that easy.......its not. Only ones retired and that was inherited wealth his father killed himself earning!

    As said above a balanced portfolio, funds, Oiec, bonds, property etc and throw in a bit of risk for fun
     
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