I bought 47 bitcoins years back and my mate says they might be worth something?

Question

Hi There,

I bought a bunch of bitcoins online in 2010 (47 apparently according to this wallet I have) for about £30 because someone online reckoned it was a risk worth taking (and my student loan had just come in!) My flatmate told me the other day to see if they were worth anything now as apparently they'd gone up in value a bit or something.

I don't really understand what a bitcoin is or how that market operates so I was wondering if someone could enlighten me on how to establish their value or where to sell them?

Anonymous · Answer

Your mate is absolutely correct, the 47 bitcoins are worth something indeed - they are worth 47p at today's prices.

Try selling them to your mate or to anyone else for £37 that you mention in your question if you don't believe me.

Ivonne · Answer

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Ursugardaddy · Answer

Stop buying investment products that you dont anything about, when coverting bitcoin to cash be very careful.

Anonymous · Answer

well if you'd cashed them in few months ago they'd have been worth, oh, about 47,000 dollars.

Nowadays they're worth about, oh, pfft,  20,000 or 23,000, something like that

You can try trading them on some website like this one

https://btc-e.com/

dcomtt · Answer

I guess it will be best to bet with those coins :)  take a look at http://betbybitcoins.com .

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I bought 47 bitcoins years back and my mate says they might be worth something?

5 Answers