Put this in the investing category, couldn't find a better section. Actually thought about buying 1 and just hanging on to it. Thoughts??
Good idea for disposable capital... cause thats probably what bitcoin will be someday, disposable But its an extremely interesting paradox! On one hand, bitcoin is a brilliant idea... an unstoppable, self regulated, inflation proof underground currency... untraceable and free of corruption On the other hand, if it ever took strong hold, bitcoin would crumble the global financial market as we know it And nobody knows who created bitcoin..... civil servant?... or terrorist??
It's becoming widely exchanged, I would hardly call it disposable. Still studying on it, plus it hit a new high.
Problem is, it will lose value when/ if people lose interest Because it exponentially becomes more expensive to "mine"... eventually "miners" will fall off, and the block chain will fall with them My theory
Currently worth $3,543.12 BITCOIN is here to stay, been studying on it for awhile. More and more are taking it for a accepted currency, there is a atm in Nashville where you can exchange it. Don't own any yet but seriously considering it.
Ive seen a bitcoin ATM in Dallas too It is becoming more accepted, in fact some reporter took a vacation somewhere in Europe using nothing but Bitcoin for week My only concern is the way its created and legitimized Im not extremely tech savy, but the way i understand it, "miners" create the coin by coding block chains.... these block chains are how transactions go from fake to real......... if/when this "mining operation" becomes unprofitable, there will be no one left to back the currency by tracking the transactions Of course, i could be totally wrong... happens all the time
@Jrich You're exactly right. IF it becomes unprofitable, then the framework of the currency collapses, and in that, destroys the value of the value of the currency. I think it's just an "if" though. We've already passed that point for casual users, especially in the US market where energy is the limiting reagent. It is profitable for bitcoin farms though. But if it is built on this weak foundation, then it always leaves the possibility to collapse the market, especially if there is no incentivized redundancy.
Very interesting and thanks for the responses. Do I trust bitcoin? NOPE!!! But highly interested in the concept, it's been around several years and recently hit new highs with no guarantee it can/will hold value. INVESTOPEDIA has several articles on it including the history.
Why don't you trust bitcoin? The actual infrastructure that it *is* built on is quite reliable....and we would be able to see a collapse far away. It's decentralized, so there is not as much profit being made directly on the use of it.
Ill give you another reason not to trust Bitcoin If it ever really took off, monetary institutions would crumble The centralized banking system is more powerful than any military.... i dont think they would allow this to happen........ idk how they could stop it??... but i bet they do They got too good of a thing going.... for every single unit of currency printed, a non existant amount of interest is added to it......... meaning...... the whole world will be in debt to these institutions for eternity (because there is more interest than there is actual money) Theyre not gonna let a bunch of computer nerds (no offense intended) put an end to that monopoly
It could be worth 3,500 tonight and 2,500 tomorrow, plus the fact that the wallet could be hacked/stolen. I feel better with a currency I can actually hold in my hand. However I'm tempted to buy 1 coin and see what it does, been reading that 5,000 is the short term target, still gun shy though.
Wow, this turned out being a pretty good thread. Read/still reading up quite a bit about it, went as far as opening up a coin base account "not funded yet" my contrarion side says buy.The main hesitation is value fluxuation. It has exploded in value in such a short time.
Absolutely a valid trading vehicle, due to the high volitility But i would caution anyone not to confuse it as a long term investment
Actually, your opinion is well taken. That was the intention of this thread, to discuss the pros and cons of owning bitcoin. From what I've read it's here to stay and expected to reach $5,000 in the very near future, BUT it could drop in value in a matter of minutes. That's my main hesitation plus a few others..
I knew what you meant, mine is paper. My first few option trades were losers. BIGTIME. I recently pulled all but around a grand out of my account to build the house. So I will be strickly options for awhile, missed the VIX run. Just waiting on a good play for now.
