A currency or investment?

[HarHarHar9965]

I guess there are many people said that they get a good profit from mining altcoin here, so why now you suggest us to wasting out time there? Yes it is wasting time because you can't miss any chance of rising so I didnt understand why you ask us to left there when it still can earn you really good amount of money?

Mining expenses have increased so much that it has become irrelevant to invest in mining as the price of bitcoin has also fallen. If it was 1000$ per btc now, then mining would be profitable but the price drop has clearly put so many miners into loss and so many of them have quit mining. My best friend is one of them. There is nothing left in mining for us, the cost of mining exceeds way more than any profit made (atleast as of now, maybe hardware changes in future change things)

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[Borisz]

I guess there are many people said that they get a good profit from mining altcoin here, so why now you suggest us to wasting out time there? Yes it is wasting time because you can't miss any chance of rising so I didnt understand why you ask us to left there when it still can earn you really good amount of money?

Mining expenses have increased so much that it has become irrelevant to invest in mining as the price of bitcoin has also fallen. If it was 1000$ per btc now, then mining would be profitable but the price drop has clearly put so many miners into loss and so many of them have quit mining. My best friend is one of them. There is nothing left in mining for us, the cost of mining exceeds way more than any profit made (atleast as of now, maybe hardware changes in future change things)

So you have the equipment to mine now, but you stop because you are not making any profit, worse you are in loss. Say this continues for 6 months and then the BTC price shoots up to, lets say, 800$/BTC.

Wouldn't it be late to restart mining then when all other miners come back to the game and push the difficulty up? If you truly believe in bitcoin, why not continue mining and swallow some loss now and sell for profit later?
(Of course, if you can afford and assuming it was not the main source of your income)

[greBit]

I believe it's an investment since the price of the BitCoin keeps fluctuating.

That can also be a good thing that its price is fluctuating, it shows activity, it depicts growth. As the currency is growing higher and higher, it is also resulting in more trades or lets say, displaying activity of more trades going down in the market. That can always be a good thing as the currency and investment both grow, and benefit each other.

[mayflor2]

Well if you ask me, bitcoin pretty much serves both as a currency and investment. However, its prices are always fluctuating and have shown immense growth in the last 5 years. This uncertain feature of this beautiful virtual currency makes it a verry useful investment. Investing in bitcoin is a long term process and one shouldn't expect quick results. Have patience while you invest, and you'll definitely feel good about your decision after the next 5 years or so!

[moneyflow]

AS you have mentioned already, bitcoins are used as currency, investment, payment and tipping etc. We all know it has numerous roles to play and its pretty amazing. But if you have to choose it either as a currency or investment, i suggest you go with the latter. Why would i spend something whose value is likely to be 10 times in the next 10 years? Sounds like an amazing investment to me!

[ammy009]

both ......... bitcoin is a currency & also an investment

[oxiyusuf]

I think bitcoin has both function, as an investment currency and of course, if the functions in the currency, bitcoin has almost all the advantages, such as easy to send, not easily damaged and very rare. if the functions in the investment, bitcoin is very advantageous because, in the future bitcoin prices will probably go back to $ 1,000

[BTCevo]

I guess there are many people said that they get a good profit from mining altcoin here, so why now you suggest us to wasting out time there? Yes it is wasting time because you can't miss any chance of rising so I didnt understand why you ask us to left there when it still can earn you really good amount of money?

Mining expenses have increased so much that it has become irrelevant to invest in mining as the price of bitcoin has also fallen. If it was 1000$ per btc now, then mining would be profitable but the price drop has clearly put so many miners into loss and so many of them have quit mining. My best friend is one of them. There is nothing left in mining for us, the cost of mining exceeds way more than any profit made (atleast as of now, maybe hardware changes in future change things)

Btw Im saying about mining altcoin, it wont cost you that much right? You can rent through some website too like hashnet to get some pool mining, you dont need to do it alone buying so many mining equipment. This will cost you high for sure, but if you rent some GHs may be it will lessen your cost with recent price.

[n2004al]

Alright. I have seen so many threads asking people to vote what they take Bitcoin as. These include currency, investment, payment and tipping etc. Now, if you can only choose between currency and investment.. What do you take Bitcoin as?

I take Bitcoin as a form of currency and investment. However, currency come first. I have never invested my money into Bitcoin. I only invested my time into Bitcoin.

I went to exchange and try to sell them at high price. Upon receiving the money from selling, I try to buy them again at lower price. This way, I can 1.2x or 1.4x my Bitcoin. And I will spend them online. I will never exchange them into USD or whatsoever currency and than withdraw them - unless I'm forced to.

What about you? Currency or investment?

I take bitcoin only as investment. But not in trading. I don't have time to follow the moving of the price of bitcoin, I don't believe in various predictions about the trend in which will move the price of bitcoin and this make me have fear to sell my bitcoins because the price can go down instead of going high and because (this is totally irrational) have satisfaction have bitcoin in my wallet in every moment. The last reason make me feel good (for the part of me that regards bitcoin).

[bitgolden]

Bitcoin is now a investment. when almost more than 90% total bitcoins are mined out it will become as a currency.
Why it's a investment now: To attract new users to go every commerce to become world's main stream currency. Once prices of bitcoin stabilize then people will use it as currency.