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Bitcoin....

jcountry said:
Don't get into mining.

The difficulty of the hash operation is scaled to increase as more are minted. It requires a room full of very, very expensive hardware and a ****load of electricity. You have to really know your stuff and lay out some serious bucks.
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That sucks. Lol. I hate I didn't do it a decade ago but hindsight is 20/20
 
Zeake said:
That sucks. Lol. I hate I didn't do it a decade ago but hindsight is 20/20
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Me too.....

I keep waiting for the bubble to burst. I was waiting at $400, and I'm still waiting.

Definitely a bubble, but who knows where it will burst.

I really like the idea of a crypto currency, and bitcoin is the first legit one. Someone gave me good investing advice years ago-never jump on the 'first' anything. The investment will be much better once the kinks get worked out with the later iterations. AOL and blackberry are perfect examples.
 
Do you think you can make good money on this? I'm not sure. But what if the price of bitcoin eventually falls without change? Many sources write that the price will continue to grow (example - https://bitcoinbestbuy.com/) but how can you be 100% sure about this?
 
Elma89 said:
Do you think you can make good money on this? I'm not sure. But what if the price of bitcoin eventually falls without change? Many sources write that the price will continue to grow (example - https://bitcoinbestbuy.com/) but how can you be 100% sure about this?
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It's extremely risky at this price level.

Things could happen with hacking which could make the value go to zero instantly.

Beyond that, your particular bitcoin is based on a key. If anything happens to any part of that key (like a failed hard drive or flash drive) your money will be lost forever. I know people who have lost bitcoins by just forgetting the password to the file they put them in. (Didn't matter too much when those coins were worth $25 bucks.)

I'd steer clear. The price of these things is way too high to consider messing with it for grins anymore. A lot of investment gurus may disagree. A lot of investment gurus also thought credit default swaps were great also.
 
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