$h1+<on, Pseudo currencency based on the value of a computer crunching numbers somehow accepted and valued for now until its ousted by the IMF or people realize there are no big guns to back the value.
Bitcoin is for those people born too late to trade tulip bulbs, baseball cards, Pogs, comic books, Cabbage Patch Kids, or Beanie Babies. As soon as the US govt bans all transaction in crypto-currency "to prevent terrorism", no one will accept payments in them anymore and the same people will start speculating on the next fad. I'm hoping for Elvis Collector Plates.
I'm glad the thread was made. We always get the pumper threads but no one ever posts to those when it drops 20%. Anyone who thinks they are "investing" in bitcoin is nuts. This is speculation at best and gambling at worst.
I'm not unopposed to wild speculation by the way, I do so with 5% of my portfolio which I consider "fun money." But it is important to recognize when you are engaging in wild speculation. Bitcoin is exactly that.
I just get irritated by the pumping and the timing of posts on this forum, this thread was supposed to be a joke.
The blockchain technology is genius and will be the future of digital transactions, but I don't think bitcoin specifically will be the medium that ultimately gets used. It's too big a threat to centralized fiat and policy to not regulate the hell out of it.
RealEstateMatt said: Bitcoin is for those people born too late to trade tulip bulbs, baseball cards, Pogs, comic books, Cabbage Patch Kids, or Beanie Babies. As soon as the US govt bans all transaction in crypto-currency "to prevent terrorism", no one will accept payments in them anymore and the same people will start speculating on the next fad. I'm hoping for Elvis Collector Plates.
I think you, and many others, have a vast misunderstanding about what exactly Bitcoins are. Let's take some of your examples such as Tulip Bulbs or Comic Books. People trade comics and at times they've retained some value. Realistically it's a poor investment. But what are Comic Books? Would you dismiss the technology of printed picture simply because your issue #1 of BatGirl isn't worth $1000? The flower industry is worth over $100 BILLION annually. Bitcoins are much more than a simply store of value. It's a very serious technology that will, and already is, changing everything you know about storing value.
I can imagine a time when printed money seemed ludicrous and the old-guard wanted to hold silver and gold coins. Eventually printed money became the defacto currency but I honestly question why.
I suggest anyone interested in truly understanding how in 20 years Bitcoin (actually cryptocurrency) is going to change everything you think you know about storing value. Twenty years ago there was people who didn't think they needed an email address.
Like it or not, believe it or not, your lives are changing even if you don't know it.
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