Bit­coin nom­i­nated as the hottest in­vest­ment of 2017

The Coffs Coast Advocate - - BETTER BUSINESS -

THE rise of Bit­coin has in­vestors world­wide spec­u­lat­ing over the fu­ture of dig­i­tal cur­ren­cies.

Across Aus­tralia there have al­ready been many suc­cess sto­ries of dab­bles in the cryp­tocur­rency mar­kets lead­ing to mas­sive re­turns.

When it was launched in Jan­uary 2009, Bit­coin was val­ued at a frac­tion of a US cent. It hit a high of USD$7500 per bit­coin last week.

Coffs Har­bour den­tist Dr Si­mon Sweet has been so taken by the value rise of Bit­coin, he is stag­ing a se­ries of Bit­coin Be­gin­ner’s Guide sem­i­nars at C.ex Coffs Har­bour.

“If you had bought $100 of bit­coin in 2010, today it would be worth over $50 mil­lion,” Dr Sweet said.

“Ex­perts think the big­gest growth has not even started yet, with pre­dic­tions Bit­coin is go­ing from $5000 to $1 mil­lion per Bit­coin within 10 years.

“Some say this is not re­al­is­tic or sus­tain­able.

“Bit­coin has been kind to me, I’m just in­ter­ested in shar­ing what I know. Yes, I must say there are a lot of scams sur­round­ing Bit­coin on­line.

“What’s im­por­tant is that peo­ple know the rights and trusted way to in­vest.”

Re­gard­ing the preva­lence of Bit­coin scams, the ACCC re­ceived 245 re­ports of bit­coin-re­lated scams in Oc­to­ber with losses to­talling $92,000.

Free sem­i­nars will be held at C.ex Coffs on Tues­day, Novem­ber 28, at 12.30pm, 3.30pm, 5.30pm and 7.30pm. Con­tact Si­mon at co­in­coach@hot­mail.com.au.

PROF­ITS: Bit­coin is an on­line cur­rency al­low­ing trans­ac­tions, buy­ing of goods and ser­vices, and ex­change of money.

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