[2017-03-18] Hindu: Why bitcoins are a bit risky

[polynesia]

Why bitcoins are a bit risky

http://www.thehindu.com/business/Economy/why-bitcoins-are-a-bit-risky/article17528857.ece

“Bitcoin value hits a life-time high,”; “bitcoins are now more expensive than gold,”; “Winklevoss twins make a bid for an exchange traded fund based on bitcoin.” Headlines such as these are making everyone sit up and take notice of the virtual currency that had faded into oblivion two years ago.

Similar frenzy and excitement had prevailed in 2013 and 2014, followed by revelation of a series of scams and nefarious activities involving these currencies. Value of bitcoins had then crashed; bitcoin exchanges closed down and investors had forgotten about them.

Not much has changed with respect to the fundamentals of the bitcoins over the last three years. They still remain highly unsuitable, both as medium of exchange and store of value.

[Pattberry]

Using bitcoins is simple, if you are tech savvy. quote from the article

The price just went down as soon as the article came out and i think it is funny but i can understand what they meant by bitcoin is simple if you are tech savvy and even if you are not a tech savvy you can very well use it with web wallets if you are really lazy enough to learn about downloading a simple software.

[loges]

Not only bitcoins but all the investment are risky but bitcoin also provides us an opportunity to make quick profits as price is too volatile and if you take it positively then you can make some really good profits in quick session which is not possible with any other form of investments.