Quote:
Originally Posted by Rusty
I'm an investor. I made enough to retired early though mutual funds, 401K, and stocks. I've read both sides about bitcoin and others like it. My feeling is that it's in a bubble right now like the tech stocks was years ago. Remember the dot.com bust?  It's all speculation that drives the price. People are holding on to it. Not spending it like money. Treating it like stocks. The idea behind bitcoin is that there is ONLY so many to be mined. It's not an infinite number. The rumor is that the creator of bitcoin is holding a couple million bitcoins. Waiting for the right time to dump them. Making a killing on them and breaking everyone else. Bitcoin has no real assets. Nothing that you can touch. If a solar flare or EMP takes down the grid. What are you going to to? Like it was said before. It's hard to change bitcoin to cash. And not many places will take it. |
Back about 7 or 8 years ago if I remember right, you could get a physical Bit coin, but those are gone now and worth more than just the face value.
There were some advertising stuff and surveys giving bit coin away, and I never paid attention. looked at it a bit when it jumped to $12 from $3. I should have just took a chance at that time, but Mt Gox and the drug dealer busts were enough to keep me away.
I guess getting into the mining business would have been good back then too if you stuck with it.
If anyone wants to know some more info and has no idea what bit coin is, they should have a look at this interview with Roger Ver.
https://www.youtube.com/watch?v=N6NscwzbMvI