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Notes from Underground: How I parlayed £100 to £7,000,000 in Bitcoin. Did I say parlayed? I meant, missed out on.

By Darren Atwater | Sunday 9 September 2018


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


I first heard about Bitcoin in 2010, when it was it was about 5 cents per coin. At the time, I thought that maybe I should buy £100 of it to see what it's about. Things being what they were at the time, I never bothered. My back of the envelope calculation says that £100 in 2010 would have been worth around £7,000,000 today, and that's after a recent crash. 

Regardless, I still think crytocurrencies are a cross between snake oil and a pyramid scheme. Do you take part? Why?

 
 * * * 

The first non-Tom story (excluding bearcasts which are always top of the pops) is Sirius Minerals – announcement includes “significant steps forward for the business”… so why a share price slump? by Steve Moore at a terrific #3. 

* * *

This column itself was at a dismal #43.

* * *

Our top 10 most-read stories this week were:

  1. Optibiotix – it junks the Adam Reynolds keyboard for big news
  2. A Letter to Marcus Stuttard and AIM Regulation – suspend Andalas now and stop the bailout placing
  3. Sirius Minerals – announcement includes “significant steps forward for the business”… so why a share price slump?
  4. Great deal for Hurricane Energy - buy
  5. Sefton Resources – Jimmyliar Ellerton shares confiscated, yours may be forcibly bought back
  6. The August share tip of the month is not Optibiotix but we were sorely tempted..instead
  7. Updated: Reabold - £10 million discounted placing underway: source
  8. Sunday Long Reads: Dyson's Electric Car, Inventing Fracking, Destruction Tourism, WeWork, Being Fabulous at Sea
  9. Reach4Entertainment – live entertainment PR agency expansion: BUY
  10. Conroy Gold – Share Talk - sordid ramping at the bottom end of AIM

 

The most-listened to Bearcasts this week were:

  1. Tom Winnifrith Bearcast: Frontera, Andalas, Justin the fecking Clown, AIM really is a cesspit and I'm not sure I care anymore
  2. Tom Winnifrith Bearcast: Telit & Yosi Fait, Tesla & Elon Musk - who is going bust and who is going to jail and or the mad-house?
  3. Tom Winnifrith Bearcast; Disgusted by Conroy I am appalled by the Archbishop of Canterbury
  4. Tom Winnifrith Bearcast - Justin you really are a total clown, why do you want to own shares in a company that misleads?
  5. Tom Winnifrith Bearcast - We Bears are usually right - ref IQE
  6. Tom Winnifrith Bearcast - The most deluded soul of the week: our own in house BBM Wildes, David Lenigas or Elon Musk


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