Thread: Bitcoin

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    I just think that Bitcoin and other virtual currencies are just too volatile for me to invest in. It sounds like a great idea and on the surface, it looks like there are plenty of people who have made money from it, but I just think that as an investment, it still looks too shaky. There are too many new virtual currencies that come and go to make me feel confident enough to invest my real money in it.


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    I have to agree with novasparker's post above, bitcoin is best described as volatile. Sure it made it to mainstream news when it reached 1K per bitcoin, sure we have alternatives like Litecoin or Dogecoin but still, cryptocurrency is not the safest way to play with your finances. If you start reading you'll notice that for every success story there are tens with people that lost their education money, savings etc by investing in cryptocurrency.

    Now, if you have a safe way of acquiring said currencies or the hardware to mine them, go for it, nothing to lose. But if you plan to invest lots of hard earned cash I'd say you need to be careful.


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    Any investment is a risk. Risks are what allow for reward. Walking outside carries the risk of being hit by a meteorite, but carries the reward of being able to go on about our daily life. Investing in cryptocurrencies is just like investing in anything else, and really, it looks quite promising. The money-laundering really can be done EASILY with any form of currency, just as easily as with cryptocurrency so it doesn't seem like that is a large enough variable that will come into play. Of course China banned it, China bans everything. Lol.


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    Bitcoin is a gamble. This is because the value of the bitcoins changes everyday and since a few years ago it has decreased significantly. The other issue is where to sell bitcoins or where to store your bitcoins. Like recently, a bitcoin wallet got hacked and all the bitcoins were stolen and there are bitcoin traders whom accumulate your bitcoins and they don't send the promised dollars for your trade.


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    Quote Originally Posted by AlecD View Post
    Any investment is a risk. Risks are what allow for reward. Walking outside carries the risk of being hit by a meteorite, but carries the reward of being able to go on about our daily life. Investing in cryptocurrencies is just like investing in anything else, and really, it looks quite promising. The money-laundering really can be done EASILY with any form of currency, just as easily as with cryptocurrency so it doesn't seem like that is a large enough variable that will come into play. Of course China banned it, China bans everything. Lol.
    I agree with you on this but the thing is some things have underlying fundamental value while others like bitcoin are speculative. Without any fundamental value I believe investing is really like gambling!


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    AlecD is right, of course. Every investment is a balance between risk and reward. The higher the risk, the higher the potential for reward...and yet the higher the potential for catastrophic failure. I am not a gambler at that capacity and won't risk my own money to invest here, but that's not to say that there aren't a ton of people out there poised to make millions on Bitcoin. I just don't have the risk appetite for it. But, the same could be said about other investment vehicles...this really isn't any different. Maybe one day we'll all be kicking ourselves for not buying in early...like those folks did with Apple and Microsoft.


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    Quote Originally Posted by novasparker View Post
    AlecD is right, of course. Every investment is a balance between risk and reward. The higher the risk, the higher the potential for reward...and yet the higher the potential for catastrophic failure. I am not a gambler at that capacity and won't risk my own money to invest here, but that's not to say that there aren't a ton of people out there poised to make millions on Bitcoin. I just don't have the risk appetite for it. But, the same could be said about other investment vehicles...this really isn't any different. Maybe one day we'll all be kicking ourselves for not buying in early...like those folks did with Apple and Microsoft.
    Yeah but imagine how bad you would kick yourself if you buyed into the dotcom bubble of the late 90's* Every coin has 2 sides and whenever you feel like this remember that you might have lost as much as you might have gained.


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    I feel that Bitcoin has 'run its course as an investment' also. It seems to be unstable. The banking system through the world is in trouble but is this the answer? At one time silver and gold were the investment of choice now it is Bitcoin just to much back and forth in the market for me to make an investment.


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    I'm not comfortable with Bitcoin and other cryptocurrencies as an investment, but I do have some and use them on a regular basis. I love the proof of work security of Bitcoin and the lack of middle men and fees.


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    Bitcoin is a digital currency and peer to peer payment system introduced as an open-sourced software. It was developed by the pseudonymous developer, Satoshi Nakamoto. It is a crypto-currency, i.e., a currency which uses cryptography the creation and transfer of money. Bitcoins are created by a process referred to as mining. In this process, participants verify and record the payments in exchange for transaction fees and newly-minted bitcoins. The participants receive and send bitcoins through a wallet software on a PC, mobile or web application. It has been a subject of unlawful activities, due to the fact that the payment trail is untraceable by official authorities. The recent popularity of bitcoins has fueled a large of speculation which has resulted in huge volatility in the value if the currency.


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