Hello all 
I am sorry if this has been covered before but I would like to know everyones thoughts on BITCOIN as a currency and the best way to aquire or trade this if possible, I have read a bit on it and how it works but I am in two minds about its value.
Anyone have any experience out there with BITCOIN yet?
Thanks in advance!
Be careful! There are a lot of scams out there, a great article online written by a previous owner of an online marketplace where he discusses how he changed the prices by hand at his sole discretion to benefit his account. Also, price volatility can be extreme! I mean $10-$20 USD swings in seconds and sometimes the bid-ask spread can be as high as $10 USD. Just be careful. The only exchange I suggest if you still want to try your hand at it is bitstamp.net. A lot of people will argue mtgox.com is best but they have a problem with liquidity; therefore, this has produced an artificially high price on that single exchange. Good luck!
Thanks Tyler! That is a lot more than I already knew, I am gonna check out bitstamp, the volatility scares me a little haha although with great volatilty comes great profits 
gonna get some charts going to see if I can try understand some of the price action I mean in lately bitcoin has rallied incredibly, will see though could just be the newb rush like that twitter nonsense, hype wont last I reckon!
Quite a cool currency to watch, quite volatile and IMO so far the best virtual!
Would be awesome if our forex broker would let us withdraw our earned money into a bitcoin account to avoid all the taxes. Im so lucky that i live in Denmark - which is known for having the highest taxes rate around the world.
Me too, I get confused at times too. Bitcoin for the first reason is quite costly; but if it were reasonably transparent it would be better. Liberty Reserve was shut down by regulators in preference of Bitcoin who is their friend. Yet we see scam littered about Bitcoin and its license is no way even threatened. Though I am less surprised because even some of the licensed big boys are notorious when it comes to racketeering their clients. So implying if Bitcoin is dubious despite its reputable reguation, how much more the reputable licensed brokers? Maybe worse off, even offshore could be more promising with better trading conditions. Bitcoin is a Scam | Monetary Realism
I have started watching bitcoin and other altcoins from last year and I guess this digital currency has almost replaced the traditional money concepts, there are almost around 700 coins introduced in the market and most of them are actively traded in digital exchanges like forex and binary option trading. Many forex and binary brokers have also added bitcoin as payment method and it value is currently varying around 400 - 450 USD.
It dropped from USD 1,100 to about USD 250. One of the biggest exchanges (MT. Cox - Mt. Gox - Wikipedia) was missing 850K bitcoins and almost went bankrupt (Not the broker, but the EXCHANGE almost went bankrupt). The number of traders are limited and therefor the liquidity uncertain.
The fact that there are more digital currencies than official currencies also divides the group of traders dealing in digital currencies.
And if you think of it. It is even more abstract than normal currencies (which are actually influenced by economy) making it even more a bucketshop with imaginairy quotes than the retail FX-market. Heck, why don’t we make up a currency ourselves and the main price driver would be based on the average temperature of five major cities in the world and we limit the issuance of the currency to 100,000 a week. We would have created the 701th digital currency.
I guess MT.Gox and some other exchanges have lost millions of customers BTC in the past as they were hacked and become victims. Don’t know if those users got their BTC back or not.
They didn’t but due to being so volatile at times it’s one of my favorites to trade.
I think Bitcoin is on it’s way to be the currency of the future! I have been hearing about more and more businesses and technologies implementing the currency
I think that Bitcoin will become more and more popular in the future. I just hope there won’t be many people in power like the ignorant judge who ruled that Bitcoin aren’t money because they “cannot be hidden under a mattress like cash and gold bars” to get in the way of progress.
I guess bitcoin has become acceptable in many countries however there are some black sheep using this as payment processors and scamming people so i guess we need to be very careful while investing in bitcoin. Some examples of these recent scams are hashocean and bitsrapid, both of them were cloud mining services and i also lost a lot of bitcoins while investing with them. Now i am trading full time in forex and binary options for it seems to be little more legit than any other businesses available online.
I think that will only grow and expand.
Id rather invest in bitcoin than touch binary options. Thats about as hideous of a crowd as it gets. As for bitcoin… im long and have been for years. I believe CNY deval will continue to put a floor under it. (and bigger move is yet to come)
sources wikipedia
If i can use USD to buy bitcoin and sell bitcoin for USD. Who can stop Bitcoin from being traded as a commodity? Unless President of the United States decide to ban Bitcoin. Then the person who own the most bitcoin become the dumbest person on the planet. Bitcoin would become the greatest scam in history by the United states of America. President of United States would become the Greatest Con artist in the world!
However, with so many broker offering to sell bitcoin. My main fear would be to buy a phony coin from a phony broker and get scammed. If i’m not wrong, there seems to be quite a number of variant cryptocurrencies out there. I’m seriously confuse! I’m always asking myself, is it real or fake??
Some people are naturally drawn to the thrill of owning an elusive currency. Some people who are more traditional or forever sceptical will never recognize bitcoin, until bitcoin becomes like gold and is accepted by every government in the world.
Personally, i don’t see the need of owning Bitcoin for myself. There is always a local currency available and a local bank for me to exchange it for another major currencies.
I believe cryptocurrencies is more of a way for the ultra rich people to hide their money.Then again, on hindsight, cryptocurrencies may also possibly become the world’s only hope of a commodity that never exhaust itself. For example, When a local currency appreciate too much the government just need to buy bitcoin, and when the local currency depreciate too much just dump bitcoin. Seem too good to be true huh?
Could the advent of cryptocurrency be the end of currency war as we all know?
i use bitcoins it is better and easy in handling and safe and your money is near you 24h you can always sell it and have cash i think it is the best invention in this last couple of years
Hi there.
Thanks for sharing your thoughts.
What platform are you using to manage your bitcoins?
Cheers
TT
many brokers accept it i think .i use 1broker.com and fxchoice .many are joining the crowd .i dont have a big account but i prefer to keep my money in bitcoins as it is gaining value each time alst year one bitcoin was 800$ now it is 4700$ about 500% raise in value so really keeping some cash as bitcoins is not a bad idea
Do there brokers allow you to open or close your positions over the weekend?
Cheers
TT
