NZFF

Trying to get the guts on bitcoin .... have you used it , or know somebody who has ?

I do know that they are an endless supply of amusement for me, when I'm talking to my son via Skype. He's really into it, he spent a little less that US$1000 a while ago, and he has an app which gives a live update of his total value. When we chat he monitors this, and sometimes he'll 'lose' 10 grand during the call. I am kind of his financial adviser, which is crazy because I'm always broke, and he earns in a month what I earn in a year.

He's happy to sit on his currency at the moment, although occasionally he is tempted to cash it in and buy more equipment for his business, but at the moment he's just waiting for his US$900 investment to reach a million... He's always said he'll earn his first million by 30, and he'll do that with his business, so bitcoin will actually be his second million.

At the moment crypo currencies are holding quite well, despite the recent crash when China effectively made them illegal to trade in within China. They could have bottomed out, but didn't, which is a good sign. I suspect that in the medium term they'll rise, but of course this is about the riskiest investment there is, you'd be crazy to rely on it at all.

It's a bit tricky to trade here in NZ, but my son did put me onto a NZ exchange, bitnz.com. Otherwise you need to find a way to safely and reliably shift money around the world.

Thanks very much Rob ..... great post .