What exactly is Bitcoin?

Rochester, New York
August 12, 2017 12:50pm CST
I received an email from a website where this guy talks of nothing, but Bitcoins. I can understand some of what he's talking about, but honestly not everything. I thought of investing $100 of my taxes into it because it says that it will possibly be worth $5000 to $6000 by the end of the year. For anyone who has it, would this be a good investment? I have read a few things about it, but honestly don't understand it. Any experts on it here? Here is a link to what he posts about Bitcoin..
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17 people like this
16 responses
@jstory07 (58102)
• Roseburg, Oregon
12 Aug
I want nothing to do with bitcoin. Just pay me on paypal.
5 people like this
@AkoPinay (10828)
• Philippines
13 Aug
PayPal is only a payment processor, Bitcoin is digital MONEY but officially defined as commodity which value is now higher than gold. Imagine after few months my money was trippled. Eleven (11) months ago the price of Bitcoin was around $600 but now it's $4,000 plus. Imagine your profit in less than a year.
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3 people like this
@celticeagle (114510)
• Boise, Idaho
12 Aug
Here is some other info on this online currency :
With the rise of bitcoin, many have asked the question 'What is bitcoin?' Read the free guide in our information centre and learn about bitcoin today.
4 people like this
12 Aug
I think that it's a bit late. If you'd bought $100 worth of Bitcoin about five years ago, it would now be worth about $4,000,000 ... presumably $100 worth now would get you just pennies. Husband is kicking himself for not buying into it when they first came out. If he thought he'd get anything out of it by investing now, I'm quite sure he would be. I suppose what I'm trying to say is, no. It's not a good investment now. :)
3 people like this
@AkoPinay (10828)
• Philippines
13 Aug
Yeah it's quite late because Bitcoin is very expensive already. I started using Bitcoin in 2015 and the price was @ $200 plus. If I kept my bitLanders earning of 3.3 BTC I have more money now but I only kept worth $10 (that's what I can afford to lose). I am buying more Synereo AMP today I hope their social network succeed in the future.
2 people like this
• Rochester, New York
14 Aug
Very true. I kick myself as ell for not investing in it when it first came out.
1 person likes this
@just4him (92423)
• Green Bay, Wisconsin
13 Aug
I've only heard of it, but know nothing about it.
3 people like this
@JudyEv (101183)
• Bunbury, Australia
13 Aug
I don't know anything about it I'm sorry but I hope someone can help you.
3 people like this
@LadyDuck (122520)
• Switzerland
13 Aug
Bitcoin is a digital non regulated currency. I think it's a bit too late to invest now, but you can try with a little amount. Do not invest too much and be careful.
3 people like this
@Corbin5 (82104)
• United States
12 Aug
I have no idea, but hope someone here can give you the information you need.
3 people like this
@renicemae (2280)
• Philippines
13 Aug
It's a digital currency where you can cash out real money from it. And yes, if you have money now, it is a good form of investment. it is constantly increasing from time to time though, not all of the time. It may also go down at times.
2 people like this
@mandala100 (25384)
• Hong Kong
13 Aug
@LisaSteinmetz I'm so sorry my friend and I'm not into bitcoins. I hope other myLotters will be able to help you.
2 people like this
@jobelbojel (5165)
• Philippines
13 Aug
I have earn little Bitcoin and was transferred to my bitcoin wallet. I still can't withdraw it through bank becuase it is still small.
1 person likes this
@AkoPinay (10828)
• Philippines
14 Aug
How small? Minimum amount is only P15
2 people like this
• Philippines
14 Aug
@AkoPinay Really? Hahaha. I am not reading. I have 300 pesos.
2 people like this
@AkoPinay (10828)
• Philippines
14 Aug
@jobelbojel you can convert it to BTC if it is in your PHP wallet so you could earn more if BTC price continue to soar. we can cash out to bank either from PHP or BTC wallet.
1 person likes this
@aaronfyzeon (1920)
• Philippines
14 Aug
Hello there! Let's not be afraid to try something new to spice up our life. But let's learn how to limit ourselves if thee things we have done is doing great to us and we can consider ourselves lucky. I have earned quite a handful in this business. Let's not just be greedy! We must also be careful of the people prying to our lives when we deal with bitcoins because all information in reference to our wallet ID (also known as wallet address) email, and our passwords should be different from what we often use logging in to our social accounts! There are not only one crypto-currency available in the digital coins world, Bitcoin (BTC) is just only one of them! I am here to help everyone out who wants to know more about bitcoins!
@AkoPinay (10828)
• Philippines
13 Aug
Be careful on where you put your money as there are lots of investment scams. If I were in the USA, I'd rather buy coins from Coinbase.com and keep it in Trezor or Ledger Nano.
The easiest place to buy, use, and accept bitcoin, ethereum, and litecoin. Using digital currency has never been so safe and easy.
1 person likes this
@andriaperry (33378)
• Anniston, Alabama
22 Aug
I have heard of it but I do not know about the investments.
@LeaPea2417 (15448)
• Toccoa, Georgia
19 Aug
I don't understand anything about the Bitcoin.
• United States
19 Aug
It's a bit scary and I hope it all goes away. I'm pretty sure it isn't going to. I'm not investing though.
@Shiva49 (9752)
• Singapore
19 Aug
I think people who went in earlier have made it but I doubt whether this party will last as there is no free lunch. Who is responsible for it is not clear though some seem to know. I recall a story about how President Kennedy's father escaped the Wall Street Crash of 1929. His shoeshine boy was boasting that he is multiplying investments out of thin air at it were in the stock market. Then the rich man got the hint and sold his investments and escaped in the nick of time. I would rather be wary - siva