Is this the currency of the future? Their value is up to $206 per bitcoin at the moment. Some say their value could reach $10k in the next few years, while other predict a massive collapse. Anyone else familiar with this? For those unfamiliar here is a nice little story about a guy that bought $27 worth in 2009, and now they are worth $886k. LINK
A form of electronic currency that started in the deep web, and now is slowly beginning to get mainstream action. Clink the link for more information: LINK
There is really no value to a bitcoin imo and the opinion of most on the trading floor I work on. The return generated is only from capital gains, and there's really no backing to this 'currency'. It's basically a bubble being created from new investors getting involved in something they no little about and the price action is being driven by emotions and media hype.
There is value if someone is willing to place value in it. I agree that it is risky, and I could see the bubble bursting, but it does have my interest. I would love for this type of currency to be our future, as in no central financial system controlling everything, but that might just be a fantasy, as I'm sure if this took off, the government would find some way to regulate this.
But you always have to have the buyer seeing value in the bitcoin. If the buyer disappears, these are literally worthless. Example of the hype: We had a financial advisor calling our precious metals (gold,silver etc) traders looking to buy bitcoin a few months ago. People have no idea what they're getting involved in, but the allure of a nice return gets them to buy but buy. Sent from my iPhone using Tapatalk - now Free
Of course, investing in bitcoins right now is definitely a gamble, as in you are gambling that the buyer base will continue to grow, and since there are only 21 million bitcoins, that would just drive the value up. Wow.
Yea, that guy is managing peoples money... It's an extremely risky investment, but with that said if I knew how to purchase some, I would throw some expendable cash and see where it goes for a few months. Sent from my iPhone using Tapatalk - now Free
The gamble is bitcoins could just become the Internets version of beanie babies, or it could completely change the financial system worldwide.
I guess he took the "mining for bitcoins" thing a bit too literally coinbase.com I might get in if the price falls again.
Did you invest in Beenz at the time as well. Same basic concept. beenz.com - Wikipedia, the free encyclopedia
eh...not really. Bitcoin is decentralized. There is no bitcoin company. No central servers. No one thing can "shut down" bitcoin.
I may be missing something simple here, but I don't understand at all how this can have any monetary value. It is interesting and I'm not rejecting the idea, I just can't wrap my head around it.
I've always found the bitcoin intriguing. Admittedly I thought the bubble would have burst by now but obviously I was wrong. In any case, the bitcoin is no different than our dollar. As long as the masses believe it has value then there is no problem. But will that last forever? I have to believe there had to be an end, it's a matter of when. Sent from my iPhone using Tapatalk
Just wondering if you ever pulled the trigger on Beenz er Flooz, sorry I meant bitcoin Bitcoin exchange Mt. Gox disappears in blow to virtual currency | Reuters
Not me. I am in the information systems realm and I don't like what I see in the future. I see over the top automation, robots, and there's no way I'm putting value into an imaginary monetary system. If things hit the fan I'd much rather barter with physical items or skills and then rebound with precious metals and a buyers stock market. If things completely collapse these bitcoins will be completely useless if you can't actually receive what you purchase on the Internet. Will shipping continue in a collapse? Will the Internet still have the same services available and run without security issues during a collapse? I don't know, but it's certainly not a chance I am willing to take.
