Bitcoin, Your Thoughts?

P

pandaa

Madly Diligent
Joined
May 28, 2012
Messages
7,866
Reaction score
4
FP$
1,305
Bitcoin is a digital currency that's supported by a P2P network. I just recently opened my wallet last week, and I've gotten started investing a little bit of money into it. I know the market can be pretty volatile, but I'm predicting that it might be a good way to earn some money as it becomes more popular.

Do you use Bitcoin, and why or why not?
 
Have not invested in it yet because it is too volatile. I would be too afraid I'd lose my investment.
 
Nerdie said:
Have not invested in it yet because it is too volatile. I would be too afraid I'd lose my investment.
Click to expand...
It's a definite risk. On one hand, I have trouble seeing the value go up any farther. It's already shot up to about $130 per BTC, in the past few years. So, it's a pretty valid concern. That's why I'm not really investing a whole let into it.
 
pandaa said:
Nerdie said:
Have not invested in it yet because it is too volatile. I would be too afraid I'd lose my investment.
Click to expand...
It's a definite risk. On one hand, I have trouble seeing the value go up any farther. It's already shot up to about $130 per BTC, in the past few years. So, it's a pretty valid concern. That's why I'm not really investing a whole let into it.
Click to expand...

It went up to 250 per BTC at one point earlier this year if I remember correctly, then in a few days down to 80 BTC. That turned me off from buying them in the future.
 
Nerdie said:
It went up to 250 per BTC at one point earlier this year if I remember correctly, then in a few days down to 80 BTC. That turned me off from buying them in the future.
Click to expand...
Wow, I wasn't aware of that. Still, it makes it interesting if that's a possibility in the future. If another bubble comes along, you could definitely make a nice profit.
 
pandaa said:
Nerdie said:
It went up to 250 per BTC at one point earlier this year if I remember correctly, then in a few days down to 80 BTC. That turned me off from buying them in the future.
Click to expand...
Wow, I wasn't aware of that. Still, it makes it interesting if that's a possibility in the future. If another bubble comes along, you could definitely make a nice profit.
Click to expand...

http://www.businessinsider.com/bitcoin-250-2013-4

Looks like it was April 10th.
 
The problem with it is that governments will be cracking down on it by going after the exchanges. They know it is used primarily by people doing illegal things, like drug dealing, money laundering, and the like.

http://www.forbes.com/sites/kashmirhill ... n-bitcoin/

I'd be wary of putting any money into it lest you end up not being able to change it back to dollars.
 
How many of you use Bitcoin?

How many of you use Bitcoin? I use. What about you? :great:
 
Holding onto Bitcoin could be good if you believe that the US dollar and Economy will lose most of its value in the future like Ron Paul who is a US Presedential candidate and Congressman.

[youtube]VcBRr7Yd9iQ[/youtube]

Although, Gold, Silver, Copper and other valuable matals maybe better than Bitcoin since gold and silver are physical item.
 
I had 4 bitcoins,made like 25$ profit but I don't trust it to stay high.
 
While it is a valid concern that the government is cracking down on illegal usage, it's important to remember a few things. First off, the network is not illegal, nor the currency. Secondly, as I pointed out in the OP, it's a peer-to-peer network, which means that it'll still be around as long as people still use it; if that makes sense.

Glad to see that some people here use it, thanks for your input everyone. 🙂
 
Was going to use, downloaded a 'wallet' then It said it would take 3 years to sync...
 
If you have a fast Gaming computer with multiple highend videocards, and a faster CPU, you can mine Bitcoin yourself, so you'll only be using electricity and your own computer to mine bitcoin.

If your electricity prices are cheap, or you use Solar, Wind, and other forms of renewable, and self-made electricity for your PC it may not be very expensive to mine Bitcoin yourself.

Your Bitcoin could be worth more when real currency like the Spanish Peso, US dollar, and Japanese Yen loses more of its value because of the poor economy, and uncertainty in the world.
 
You must log in or register to reply here.

About Us

Since 2007, Forum Promotion has specialized in providing advertising solutions to webmasters looking to promote their communities. We pride ourselves in being the bridge that connects forum administrators, bloggers, and more.

Sponsors

Affiliates

    Universal Gaming The Coffee House

Stay Connected

Back
Top Bottom