Bitcoin....

[jcountry]

I know some folks here had been looking at it.

Looks like the bubble may have burst....

https://www.cnbc.com/2017/09/14/bit...-big-chinese-exchange-said-it-is-closing.html

It will be hard to control this currency, but a state like China will probably make a few examples out of folks. If I had bought some a while back, I would be cashing out now.

 

[derek81]

I dumped half of what I had a couple weeks back but still holding Litecoin and some Bitcoin, I think it will bounce back

 

[500mag]

Bitcon

 

[sparked1]

I had GBTC at $350 and sold half at $550 and watched it go to $1080. Then it quickly came back down to Earth and sold the rest at $760. It's really plummeted since China banned cryptocurrency IPO and now this. I knew it was a gamble which is why I invested through the bloated ETF and not directly.

 

[derek81]

Bitcon

Call it what you will, there is/was money to be made... A lot.

 

[jcountry]

Call it what you will, there is/was money to be made... A lot.

Depends.

Regular folks probably can't track down traders, but a nation like China almost certainly can. Once they start executing traders, I think the value will really take a hit. China will totally kill some of these guys-just to make it clear they don't approve.

They may also try and hack the system, maybe mess with the block chain somehow. Bitcoin ain't exactly bulletproof. Chinese hackers are very good these days.

 

[500mag]

Call it what you will, there is/was money to be made... A lot.

I agree with the "was" part, not so sure about the "is"....too risky for me....it has gone straight up because traders cannot short it.

 

[StuP]

Any currency is only worth what it can be exchanged for in terms of other currencies, goods or services. I'm yet to be convinced any of the cryptocurrencies are anything other than an instrument for speculators at THIS point in time. No predictions for the future !

 

[Kman]

If you can work it an make a buck, great! For me it's an unknown. I will never have time to understand or invest in it. I read the head lines and that's all I know.

 

[Two Foot Groups]

I agree with the "was" part, not so sure about the "is"....too risky for me....it has gone straight up because traders cannot short it.

Could you explain this to me? I believe you and am not being smartassed.