Discussion in 'The Cocktail Lounge' started by queenbellevue, Feb 25, 2015.
Just wondering, what does everyone here think of Bitcoin? Is anyone invested in it?
People have made money out of it, which I guess is always the first rationale for people to think about it as an investment. But it is speculative, incredibly volatile and no one really knows what the marketplace will look like in 5 years time. No one wants to be left with a cryptocurrency that isn't worth much and isn't freely tradeable. So there's probably a bit of speculative value in the near term. I would just be wary about looking at it from a long-term investment perspective.
Bitcoin is probably the worst investment anyone can ever make. The days when the value of bitcoins was steadily rising are long gone. The most probable reason is the not many people embraced the notion that cryptocurrencies were better. Having lost that "value" and the failure to attract more people to start using bitcoins, the future of cryptocurrencies is rather bleak if you ask me.
I feel like it's just a step above gambling in Vegas. You'd still get that same thrill but not the whole "the house always wins" stigma attached to it.
I never invested in bitcoin, but it's a topic that has always interested me. I think it has a bright future, but for now is still too uncertain.
There was a time and place in which one jumped in, a decent amount of money could have been made. Now, I wouldn't touch it. Too much volatility, uncertainty, and MtGox's collapse was a pretty big blow to the credibility of the currency. Even the Ruble is doing better than Bitcoin these days.
There are other cryptocurrencies floating around, but few have come close to Bitcoin. So, meh, I'll stick with more mainstream investing strategies.
Nope. Too risky.
If anything, it's the kind of thing you might possibly buy a little of with the few bucks you might normally blow at the casino or on the odd night out drinking or whatever. Purely a gamble.
I've never invested in it. But I have heard a lot about it. People over here have given mixed comments about it. Hence I am not sure whether I will actually invest in it.
It feels like the rate for the cryptocurrency as far as profit is not as high. Some people made profit and some have not. I have not opened an account yet so I am just waiting for the right time.
There isn't going to be a "right" time I believe. Those who bought bitcoins a long time ago and were smart enough to convert their bitcoins into real cash before the prices started plummeting made a profit. Right now the likelihood of bitcoin's value going up are quite remote. Some people actually believe cryptocurrencies have no future. When such rumors circulate far and wide, I expect the value will keep falling.
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