Bitcoins

@dfollin (24172)
United States
April 20, 2022 11:37pm CST
I don't even understand Bitcoins. How do you make actual real cash from them? Coins ????? I can buy them at Chuck E Cheese's to play games, earn ticket's then buy prizes for kids with them. I have strangers send me messages to send them $100 too invest in Bitcoins. And in three day's I will earn $1,000 from my investment. I have a friend that has invested a little but he says it will earn him money in the future. I don't understand.
9 people like this
10 responses
@yukimori (10144)
• United States
21 Apr 22
They're a little like stocks in some regards: one Bitcoin has a certain value in US dollars, and that's the price that you pay for it when you purchase it. If the value goes up in the time that you hold it, you can sell it for a profit. It's not guaranteed, though--Bitcoin and other cryptocurrencies are really volatile, and with a lot of them it's very much like gambling. Honestly most people would probably be better off putting the money into I bonds or an S&P 500 index fund than trying to strike it rich with crypto. Anyone promising returns like you described in three days is outright scamming people. Bitcoin is volatile, but the values don't fluctuate that much in such a short period of time.
4 people like this
@dfollin (24172)
• United States
21 Apr 22
Yeah, I figured they were scammers. My son knows someone that apparently makes good money from them. I told my son, "If he is really making that good of money then he still wouldn't be living in that mobile home" LOL
2 people like this
@dfollin (24172)
• United States
21 Apr 22
@yukimori The lot rent is definitly not cheap! My mom and uncle live next door.
1 person likes this
@yukimori (10144)
• United States
21 Apr 22
@dfollin I dunno, if the mobile home was paid off and the lot rent was cheap I'd probably throw everything into an "F.U." fund and build that up for a while while keeping the housing expenses low. The more you set aside now the more you have working for you down the road and all that...
2 people like this
@DaddyEvil (137145)
• United States
21 Apr 22
The coins you buy at Chuck E. Cheese's aren't Bitcoins. Those are gaming tokens and are only worth something used in the gaming machines. Never give a stranger anything if you didn't contact them for some reason. There are lots of people out there trying to scam people out of their money. Nothing will earn you $1,000 in three days if you invest $100 in it. Anyone that pretends it will is trying to scam you.
3 people like this
@dfollin (24172)
• United States
21 Apr 22
I know they aren't, I was just saying that the only coins I ever heard of that you buy and get something back that quickly,lol. I would never give a stranger money.
1 person likes this
@DaddyEvil (137145)
• United States
21 Apr 22
@dfollin Since you've mentioned money.... I have some farmland in Missouri I'll sell you... cheap.
1 person likes this
@dfollin (24172)
• United States
21 Apr 22
@DaddyEvil Lmbo! Thanks for thinking about me friend! LOL
1 person likes this
@toniganzon (72285)
• Philippines
21 Apr 22
I don't invest in bitcoin coz I don't understand it either. But I have joined sites that gave me lots of money because it pays in crypto. The one about posting just photos went poof and is no longer existing. The other one is almost like mylot and that one is still on going and I'm still earning.
2 people like this
@dfollin (24172)
• United States
21 Apr 22
Too bad the photo one went down. But that is great you are earning from the other one.
1 person likes this
@Shavkat (137215)
• Philippines
21 Apr 22
I am playing some mobile games that can earn BTC and can be converted to dollars afterward.
1 person likes this
• Sidoarjo, Indonesia
21 Apr 22
I notice these games are currently on the rise. Don't you have to invest some money upfront before actually earning the coins?
1 person likes this
@dfollin (24172)
• United States
21 Apr 22
@thehazelsister Those people wanted $100. My friend in Africa put up $50 but he won't get any money back for years.
1 person likes this
• Sidoarjo, Indonesia
21 Apr 22
@dfollin Oh, dear
1 person likes this
@LindaOHio (156157)
• United States
21 Apr 22
Cryptocurrency is quite difficult to understand. I write on Noise.Cash and get paid in Bitcoins. I must then transfer them to another website, convert them to USD and then transfer them to PayPal. It took me a while to learn all of this.
2 people like this
@dfollin (24172)
• United States
21 Apr 22
So is it worth it?
1 person likes this
@dfollin (24172)
• United States
22 Apr 22
@LindaOHio That's good! I might check it out.
1 person likes this
@LindaOHio (156157)
• United States
22 Apr 22
@dfollin I think so. Plus I've made some cool friends there.
1 person likes this
@Babino (5761)
• Morocco
21 Apr 22
I think you should watch YouTube videos to understand, because there are a lot of scammers. And it is worth knowing it's the future !!
2 people like this
@dfollin (24172)
• United States
21 Apr 22
That's what my friend from Africa said too.
1 person likes this
@rsa101 (37952)
• Philippines
21 Apr 22
Cryptocurrencies are really hard to comprehend. I also have a small amount that is in bitcoins and other cryptos to but I am not sure if it is really worth it. I think you can earn from it thru trading like the FX trading of the regular currencies we have right now. Or you can just hold it until the value rise up before you convert it back to your fiat money.
1 person likes this
@dfollin (24172)
• United States
21 Apr 22
Oh! But the site's might go down before I can collect.
1 person likes this
@dfollin (24172)
• United States
1 May 22
@rsa101 I can't afford to buy at this time.
1 person likes this
@rsa101 (37952)
• Philippines
25 Apr 22
@dfollin It all is on good timing of buying and selling that you can earn from them.
1 person likes this
@bunnybon7 (50973)
• Holiday, Florida
22 Apr 22
Me either. More confusing then paypal I don't need. With my luck I would accidentally give them away and lose money.
1 person likes this
@dfollin (24172)
• United States
22 Apr 22
Lol! I would probably too!
1 person likes this
@averygirl72 (37726)
• Philippines
22 Apr 22
I don't understand bitcoins too. Seem complicated. But my youngest sister know it and earning a bit from it
1 person likes this
@dfollin (24172)
• United States
22 Apr 22
Good for her!
1 person likes this
• Sidoarjo, Indonesia
21 Apr 22
I don't understand how it works either, but many people around me are jumping into the bandwagon, too. I'm not interested in it yet, but I may change my mind sooner or later. Even if it guarantees high return, I doubt you can earn $1,000 in three days by investing $100 alone. It sounds like a scam to me, and you should be careful. If it sounds to good to be true, then it probably is.
1 person likes this
@dfollin (24172)
• United States
21 Apr 22
I doubted that too and it was obvious they were scammers because I had 3 different people contact me with the same story.
1 person likes this
@dfollin (24172)
• United States
21 Apr 22
@thehazelsister That's for sure.
1 person likes this
• Sidoarjo, Indonesia
21 Apr 22
@dfollin Too much for a coincidence
1 person likes this