Bitcoins....Invest In Them Or Not?

[Premium Parrots]

What do you think?

Especially since Mt. Gox fell yesterday.

[wa3zrm]

You know what they say... buy low and sell high! If I did that when ATT was at $2... I'd be using a solid gold snus tin now!

[halocog]

I've been wanting to put money into the alternates like Litecoin and Dogecoin because they're at price points that make them actually usable. But it seems that all of the places that run exchanges are super shady, and that's the only thing holding me back.

[Thunder_Snus]

I've been wanting to put money into the alternates like Litecoin and Dogecoin because they're at price points that make them actually usable. But it seems that all of the places that run exchanges are super shady, and that's the only thing holding me back.

Lol ****ing dogecoin.

The thing about investing in almost anything is if you can get in early at a small price than somehwere around 7/10 times it will fail and you will be out some. those other 3/10 times the price will skyrocket then plunge then skyrocket then plunge until it eventually follows the traditional trend of every market and just increase steadily over time. If you think you are one of the first to know about something and like the idea. Put 100 bucks in....200 maybe. If there is a huge spike you can cash out at 200k-1m. Don't invest huge amounts in an untested market unless you are in a make or break position with your life.

[Crow]

My only issue with BTC is the bloody currency is divisible to 8 decimal places.

Shorten down to 2 places (or 3, preferrably 2); the currency will gain traction in commerce.

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I wouldn't invest heavily into BTC, but it's worth dabbling in (if you like playing it risky). The only other cryptocurrency I would play risk with, is the LTC. I would say those are the gold and silver standards for cryptocurrency. To me, the rest are copper.

[trebli]

What do you think?

Especially since Mt. Gox fell yesterday.

Sounds more like gambling than investing. It would be less risky to "invest" in Secretariat or Seabiscuit.

[Crow]

Sounds more like gambling than investing. It would be less risky to "invest" in Secretariat or Seabiscuit.

When I first cawed about Bitcoin, it was selling for a little over 120 USD per coin. The next time I cawed, it was fast approaching 4 figures.

Think of it as a stock play. Just don't do anything stupid like going all in. Right now, I would approach BTC with extreme caution. One major reason why state governments are reluctant to adopt it, is its high potential for mass theft. Security (from another Mt Gox scenario) needs to be addressed.

[Thunder_Snus]

Market bubbles have existed since the 1600's in the Netherlands. You have to get in early and then decide you are content with how much it will bring in if you sell now instead of looking at how much more you COULD get. Had I invested in BTC or anything really just about 1000 investment early enough would have netted more than 1M$ by now. No one ever thinks about cashing out and living off of the interest which is really all investing and retirement savings is about. If you had 1M that's roughly 60-100k a year in an income stream where you aren't losing any principal balance.

Just a word of advice to any of you on here that are looking at risky investments similar to this....have an amount to invest that you are comfortable with never seeing again...have a dollar amount you want to see it grow to and when it reaches there cash out and never look back. Be happy that you got Poland and France and don't risk invading Russia.

[OregonNative]

I've been considering building a BTC rig for mining. I don't know enough about it to fully pull the trigger though. I've had a few friends get into BTC mining/trading and several of them have told me the days of cashing out with a big amount of money are long gone. As mentioned before, I know little about this subject so don't base any decision off my comments.

[DanF]

I just today read something today which I would definitely look into if I decided to go near BitCoins.

There was also an interview (you can find it) where the developers of this hardware discuss this product in "complicated" detail.

The major problem with BitCoin is hackers having the ability and the genius to steal them from you. To date that has not been 100% preventable.

This product has closed that theft possibility.

However, there is another small detail about the reliability of owning this type of "currency". And that is...... always having the online connection in the event of a major disruption with network (loss of online access) to be able to get to your "money".

Even this device (which does prevents theft) cannot re establish internet access.

http://www.bitcointrezor.com

Dan

[whalen]

Mt gox gets robbed....crow's off shagging she-las....hmmmm.

[trebli]

I've been considering building a BTC rig for mining. I don't know enough about it to fully pull the trigger though. I've had a few friends get into BTC mining/trading and several of them have told me the days of cashing out with a big amount of money are long gone. As mentioned before, I know little about this subject so don't base any decision off my comments.

Here is a great article about Bitcoin mining from the NY Times (video included). For me, it was an eye opener.

The Bitcoin Mines of Iceland

"Until just a few months ago, most Bitcoin mining was done on the home computers of digital-money fanatics. But as the value of a single Bitcoin skyrocketed over the last few months, the competition for new coins set off a race that quickly turned mining into an industrial enterprise."

http://dealbook.nytimes.com/2013/12/...bitcoin-mines/

[CzechCzar]

Bitcoin CEO Found Dead in Her Home Of Apparent “Suicide”
March 5, 2014 by Amanda Shea | Economics, International, News
Bitcoin3
The financial industry has suffered another CEO loss to “suicide”, today’s being Autumn Radtke, a 28-year-old American CEO of the troubled bitcoin digital currency exchange.

Radtke was found dead in her Singapore apartment on February 28th of an apparent suicide, although officials are waiting for toxicology reports to determine the exact cause of death, and if it was suicide or a possible homicide. Radtke’s death is another among a number of questionable financial sector suicides this year. She brings the total to eight.Bitcoin2

On Feb. 18 a 33-year-old JPMorgan finance pro leaped to his death the roof of the JPMorgan’s 30-story Hong Kong office tower. He was preceded in death by several other JPMorgan executives, all which jumped off the financial institution’s buildings where they each worked respectively.

Outside of JPMorgan, two other bankers have also taken their lives. On Jan. 31, Mike Dueker, chief economist at Russell Investments and former Federal Reserve bank economist, was found dead at the side of a road that leads to the Tacoma Narrows Bridge in Washington state, according to the Pierce County Sheriff’s Department. He was 50. Just a few short days earlier, on Jan. 26, William Broeksmit, 58, a former senior risk manager at Deutsche Bank, was found hanging in a house in South Kensington, according to London police.

Bitcoin has been riddled with bad news lately, the death of Radtke is the latest piece. The crisis-ridden currency company collapsed after the crash of Japanese-based Mt Gox exchange last week upon $400m having gone missing. The closure of the Flexcoin bank yesterday in Canada after computer hackers robbed $600,000 made matters exponentially worse for Bitcoin.

Bitcoin1Radtke was loved and praised for her professionalism, intelligence, and grace, along with the ability to combine them in a way that likely helped her to achieve such heights of success in the tech industry. Autumn had previously worked for Virgin Charter alongside epic CEO Richard Branson, and later as freelancer for Apple to bring cloud-computing software to John Hopkins University and Los Alamos Labs.

In what now seems like it was a cry for help, Autumn posted an essay on February 10, entitled ‘The Psychological Price of Entrepreneurship’ and commented obliquely that ‘Everything has it’s price’.

Bitcoin has been banned in many areas, including where the American CEO Radtke chose to make her home in South East Asia. The online currency has not traceable and as such has been linked to money laundering and other illegal activities. Major financial institutions are not at all in favor of it since Bitcoin is out of their control and able to be transferred about the world without fees.

http://freepatriot.org/2014/03/05/bi...arent-suicide/

[DanF]

If I went anywhere near Bitcoin I would get the item below.

That won't protect the value of the them (or maybe it will) but it will stop them from being stolen right out from under you.

http://www.bitcointrezor.com

Dan