Do you think Bitcoin is worth investing in? Is it safe?

If there was a tracker fund tracking a number of cryptocurrencies then I might dip a little toe in the water as a high risk punt for a small amount. However as cryptocurrencies have no intrinsic value their value is what people are prepared to pay, so there is no reason for them to be if any particular value, they could go from a million pounds a unit to one pence a unit in the course of a day and never regain. I can’t give advice but if it was me and I wanted to go into crypto in a small way as a bet, knowing I could easily lose everything I put in, then I would wait for a reputable company to issue a tracker fund. None have done so in the UK, but it might happen.

OP is August 2020.

I think the number of deleted posts on this thread should be an indication of the reliability of Bitcoin investing ?

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No, I'd worry that it would go wrong and I'd end up losing it. When something seems too good to be true it usually is. If these 'get rick quick' schemes were so good we'd all use them without reservation.

One of my adult children invested a £1000. They have already made ie already cashed in about £13000. They still have money invested. Me?, no far too sensible

It is gambling in the same way stocks and shares are. I know of a few people that have done well with bitcoin, not mega money but enough to live off.

It is gambling on buying imaginary money in the hope that someone will buy it off you for more than you paid,.They are hoping that in turn they can sell it to someone else who plans to do exactly the same thing.

Somewhere, at some time, someone is going to lose out.

Never in a million years.

POGS

I have tried to understand how it works but I simply cannot understand anything about Bitcoin.

How on earth does it function, I haven't a clue. ?

I’m glad I’m not the only one POGS, I honestly can’t get my head around it ?

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Gold is your best bet if you're a quick gambler as the price fluctuates daily but looking to the future it's a safe bet.

Someone I know invested some money, and last time we spoke, had done very well.

Apparently, you can invest small amounts, it doesn't have to be hundreds.

I did when it first appeared ( on my step daughters advise) and made money. I have no idea how it works but she does.
But as someone said: it's a gamble and if you can't afford to loose it, don't gamble.
Having said that: my late father in law was a professional gambler for many years and made a living.

When I signed up they never left me alone, withdrew the money next day

Only invest an amount that you can afford to lose - I can't afford to lose a penny, so I don't take risks ....

A big NO from me, too. Stay away!

No and No. I think it’s a big con. You might make something if you have lots of money to spare but why take the risk

I am risk averse so it’s a no, no from me.

Don't touch it!

Not for me not that I ve got any money to invest but wouldn’t if I had

I have tried to understand how it works but I simply cannot understand anything about Bitcoin.

How on earth does it function, I haven't a clue. ?

You've got to be wealthy in the first place to invest in this way.

No. And no. I don't have enough spare dosh to gamble it away.