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[vokain]

Account hacked. Apologies, cannot delete.

What’s the best-performing exchange-traded fund, mutual fund or index for 2017? An ETF that invests solely in bit-coin, the virtual currency. This ETF posted the highest year-to-date return through July, of 185 percent, according to Steele Expert, a database of mutual funds, ETFs and indices produced by Steele Systems, Inc. In comparison, the S&P 500 Index returned about 11 percent.

The same ETF beat all others over the three-year period ending July 2017. The ETF posted the highest three-year total return, 352 percent (65.4 percent average annual return). In comparison, the S&P 500 Index returned about 36 percent (10.7 percent average annual return).

The ETF has about $475 million in assets under management and invests in bitcoin, which according to its disclosure is “currently unregulated, highly speculative and volatile.”

If you have not followed the development of bitcoin since its introduction in 2009, let me share some basics. A virtual currency, bitcoin is an alternative payment system to currency issued by governments. A FINRA Investor Alert on bit-coin, called “Bitcoin: More Than a Bit

Risky,” puts it this way: “Think of [bit-coin] as a sophisticated computer program that encrypts, verifies and records bitcoin transactions.”

FINRA, the Financial Industry Regulatory Authority, regulates all securities firms doing business in the United States. Bitcoin is “created” by “mining.”

Quoting from the alert: “Like mining for gold, the process is labor-intensive. Mining serves two purposes. First, miners use software algorithms to add transaction records to bitcoin’s public ledger of past transactions and verify legitimate bitcoin transactions. For their efforts, bit-coin miners get transaction fees. In addition, if the miner finds a new “block,” the miner is awarded new bitcoins. A finite number of bitcoins can be mined (21 million, based on the mathematics underlying bitcoin mining).

You can buy bitcoins online and at exchanges, but you don’t get a physical paper or coin in exchange. Instead bit-coin exists in a “digital wallet.” The value fluctuates, and in fact is “extremely volatile, and subject to wide price swings,” according to the alert.

As a result, both regulators and speculators have been drawn to this virtual currency. Speculators are attracted by the possibility of outsized returns (and, as with any speculative “investment,” there is a potential for outsized losses).

And regulators raise warnings. Let me quote further from the alert.

“Buying, selling and using bitcoins carry numerous risks: “Digital currency such as bitcoin is not legal tender. No law requires companies or individuals to accept bitcoins as a form of payment. Instead, bitcoin use is limited to businesses and individuals that are willing to accept bitcoins. If no one

accepts bitcoins, bitcoins will become worthless.

“Platforms that buy and sell bitcoins can be hacked, and some have failed. In addition, like the platforms themselves, digital wallets can be hacked. As a result, consumers can — and have — lost money.

“Bitcoin transactions can be subject to fraud and theft. For example, a fraudster could pose as a bitcoin exchange, intermediary or trader in an effort to lure you to send money, which is then stolen.

“Unlike U.S. banks and credit unions that provide certain guarantees of safety to depositors, there are no such safe-guards provided to digital wallets.

“Bitcoin payments are irreversible. Once you complete a transaction, it cannot be reversed. Purchases can be refunded, but that depends solely on the willingness of the establishment to do so.

“In part because of the anonymity bit-coin offers, it has been used in illegal activity, including drug dealing, money laundering and other forms of illegal commerce. Abuses could impact consumers and speculators; for instance, law-enforcement agencies could shut down or restrict the use of platforms and exchanges, limiting or shutting off the ability to use or trade bitcoins.”

Also of interest is the bitcoin index (NYXBT).

On another note, not connected with the EFT, the Securities and Exchange Commission suspended trading of the securities of a bitcoin company incorporated in Canada Thursday through the morning of Sept. 7.

The reason: “Concerns regarding the accuracy and adequacy of publicly available information about the company including, among other things, the value of [the company’s] assets and its capital structure.”

You can read more at the following link: https://www.sec.gov/litigation/suspensions/2017/34-81474.pdf
source http://www.normantranscript.com/news/business/bitcoin-shows-big-returns-but-remains-a-risky-prospect-for/article_388de096-1e46-5a8a-8c90-cb6309c770ce.html

[Hydrogen]

“Digital currency such as bitcoin is not legal tender. No law requires companies or individuals to accept bitcoins as a form of payment. Instead, bitcoin use is limited to businesses and individuals that are willing to accept bitcoins. If no one accepts bitcoins, bitcoins will become worthless.

No one accepts gold or silver in payment transactions.

Neither gold nor silver has become worthless.

A case could be made for bitcoin being superior to fiat in terms of performance against inflation, prevention in terms of manipulation of supply, forcing old and obsolete payments methods like ACH's to upgrade. All of which contribute towards a better economy and higher standard of living.

[Celebrity]

“Digital currency such as bitcoin is not legal tender. No law requires companies or individuals to accept bitcoins as a form of payment. Instead, bitcoin use is limited to businesses and individuals that are willing to accept bitcoins. If no one accepts bitcoins, bitcoins will become worthless.

No one accepts gold or silver in payment transactions.

Neither gold nor silver has become worthless.

A case could be made for bitcoin being superior to fiat in terms of performance against inflation, prevention in terms of manipulation of supply, forcing old and obsolete payments methods like ACH's to upgrade. All of which contribute towards a better economy and higher standard of living.

This is the thing crowds can't see. Bitcoin doesn't have to be used in real payments. The price can be satisfying if it keep its market and asset value too. It's now seen as a investment asset by the community. And remember that nobody gives you money for free, raking risk is inevitable here.

[Yanisumin]

“Digital currency such as bitcoin is not legal tender. No law requires companies or individuals to accept bitcoins as a form of payment. Instead, bitcoin use is limited to businesses and individuals that are willing to accept bitcoins. If no one accepts bitcoins, bitcoins will become worthless.

No one accepts gold or silver in payment transactions.

Neither gold nor silver has become worthless.

A case could be made for bitcoin being superior to fiat in terms of performance against inflation, prevention in terms of manipulation of supply, forcing old and obsolete payments methods like ACH's to upgrade. All of which contribute towards a better economy and higher standard of living.

This is the thing crowds can't see. Bitcoin doesn't have to be used in real payments. The price can be satisfying if it keep its market and asset value too. It's now seen as a investment asset by the community. And remember that nobody gives you money for free, raking risk is inevitable here.

They are the one who's just trying to make instant cash. Bitcoin can survive long if it will be used as a reserve like gold and silver. Even the transportation of gold and silver is tough because you need some vault and an armored car and even if btc is having a problem in their traffic issues, btc is a more reliable reserve so far.
Well I don't think also that were just trying so hard on btc. this is a result of years of development and if ever btc will evolve then why don't they implement it like what they did to BCC right? Equal amount on that time !

[Altero]

Because of bitcoin promising price nowadays I can say that it is a good investment and could have a big profit in return in the future. Yes it is risky when doing investment because you don't who you are dealing with because of hidden identity unless you have already and trusted the person. Aside from that, because bitcoin is decentralized and no body take controlled it even the government they are afraid of losing their money if something went wrong to the person they are dealing with.

[Hamstead]

As we all know that doing investment to anonymous person is a something difficult, we can't assure that your money will not loss in a minute. Even though doing investment is in high risk but still a lot of traders and investors doing this because they believe that not all the time is lossing. And a big chance also to have big  profit they earned from bitcoin if they succeed in their investment.

[CryptoBry]

“Digital currency such as bitcoin is not legal tender. No law requires companies or individuals to accept bitcoins as a form of payment. Instead, bitcoin use is limited to businesses and individuals that are willing to accept bitcoins. If no one accepts bitcoins, bitcoins will become worthless.

No one accepts gold or silver in payment transactions. Neither gold nor silver has become worthless. A case could be made for bitcoin being superior to fiat in terms of performance against inflation, prevention in terms of manipulation of supply, forcing old and obsolete payments methods like ACH's to upgrade. All of which contribute towards a better economy and higher standard of living.

I actually have the same point. Bitcoin can be taken as a currency and as an asset (just like gold) and since Bitcoin is really limited in number then we should be expecting its rise in value. Some people remained unknowing as far as Bitcoin is concerned and since they don't have that full grasped of things here they have that tendency to proclaim that Bitcoin is just a bubble that is ready to burst anytime.

[jekjekman]

I really don't know how to express this clearly but the line between investment and gamble is like so thin in this crypto currency world it is just a matter of yourself interpretation in how will you accept it.

Many people normally hesitate to put their money on bitcoin for investment because they are just looking in the short term, but can't disagree with them because that is their choice. Just invest or gamble if you may what you are capable in losing.

[bucciarati]

almost every kind of investments is like a gamble, even country emitted bonds carry a little part of risk. analysis and market prediction works only in a limited way, if algos and bot were perfect everybody will be rich.
in my opinion only secure 100% strategies are arbitrage and market manipulation driven by asymetric info

[richmcrich]

almost every kind of investments is like a gamble, even country emitted bonds carry a little part of risk. analysis and market prediction works only in a limited way, if algos and bot were perfect everybody will be rich.
in my opinion only secure 100% strategies are arbitrage and market manipulation driven by asymetric info

Yes, risk is involved in every single investment but we need to choose certain investments to double or increase our capital. Bitcoins are less risky than any other digital currency. They are producing great profits for years and have gained trust of masses. I don’t think so we should be really hesitant while investing into bitcoins.

[Schuyler]

almost every kind of investments is like a gamble, even country emitted bonds carry a little part of risk. analysis and market prediction works only in a limited way, if algos and bot were perfect everybody will be rich.
in my opinion only secure 100% strategies are arbitrage and market manipulation driven by asymetric info

Yes, risk is involved in every single investment but we need to choose certain investments to double or increase our capital. Bitcoins are less risky than any other digital currency. They are producing great profits for years and have gained trust of masses. I don’t think so we should be really hesitant while investing into bitcoins.

Back in the day, a 20% return on investment annually is already a pretty good thing, for as long as it beats inflation and then some yield on the side. Now, with the influx of crypto currencies, we are being given the option to invest at higher risks but also with higher rewards. 20% is easily achieved in a month but can also be lost if we are not careful. Holding and investing might have risks associated but better to take part and enjoy the ride rather than just watch the opportunities go by as bitcoin reaches new highs.