FinShaggy (OP)
Full Member
 Offline
Activity: 196
Merit: 100
Google/YouTube
|
 |
May 24, 2013, 03:54:37 PM |
|
|
If everyone is thinking outside the box, there is a new box.
|
|
|
|
|
|
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
|
|
ukuna
Newbie
Offline
Activity: 28
Merit: 0
|
|
May 24, 2013, 03:57:05 PM |
|
yes
|
|
|
|
|
FinShaggy (OP)
Full Member
Offline
Activity: 196
Merit: 100
Google/YouTube
|
|
May 24, 2013, 03:58:12 PM |
|
yes
Agreed  |
If everyone is thinking outside the box, there is a new box.
|
|
|
|
Zaih
|
|
May 24, 2013, 03:58:45 PM |
|
Bloody oof m8!
|
|
|
|
|
htcking
Newbie
Offline
Activity: 3
Merit: 0
|
|
May 24, 2013, 04:09:15 PM |
|
Depends a which end your in when they crash
|
|
|
|
|
NewLiberty
Legendary
Offline
Activity: 1204
Merit: 1002
Gresham's Lawyer
|
|
May 24, 2013, 04:16:26 PM |
|
They are a better currency than an investment
(store of value, unit of account, medium of exchange)
They don't pay interest or anything. They are what they are.
But as they say, "bad money drives out good".
This means that good money goes into hiding in wallets, storage, while bad money gets exchanged for stuff.
When you can trade bad money for good money, you do it.
So your question is really, is it better money than the alternatives.
In some ways yes, in others no. If it is better for you, than hold it, and trade away your fiat currencies.
|
|
|
|
herzmeister
Legendary
Offline
Activity: 1764
Merit: 1007
|
|
May 24, 2013, 04:40:01 PM |
|
But as they say, "bad money drives out good".
That is only true when an authority like the state enforces the use of bad money and merchants to accept it. If that is not the case, then good money will drive out the bad, because merchants will prefer and demand it (gold, silver, bitcoins). |
|
|
|
jasonf9ace
Newbie
Offline
Activity: 6
Merit: 0
|
|
May 24, 2013, 04:40:30 PM |
|
|
|
|
|
|
|
cardcomm
|
|
May 24, 2013, 04:55:05 PM |
|
I depends... I once knew a guy who made 16k on a 2k investment, over a 4 month period.
|
|
|
|
|
gambit1
|
|
May 24, 2013, 05:04:24 PM |
|
If you are looking at bitcoin as an investment then you must consider it very high risk and its position in your portfolio must reflect that. The volatility of bitcoin is well known. This means it can be very profitable or it can be ruinous.
|
|
|
|
|
FinShaggy (OP)
Full Member
Offline
Activity: 196
Merit: 100
Google/YouTube
|
|
May 24, 2013, 05:11:25 PM |
|
If you are looking at bitcoin as an investment then you must consider it very high risk and its position in your portfolio must reflect that. The volatility of bitcoin is well known. This means it can be very profitable or it can be ruinous.
But over all it's profitable. If you keep your coins long enough they will go up in value, you just have to wait for the difficulty to go up |
If everyone is thinking outside the box, there is a new box.
|
|
|
|
jml
|
|
May 24, 2013, 05:15:58 PM |
|
In my view, I think that bitcoins are worth more than printed fiat currencies as they are not backed by the "gold standard" anymore. Bitcoins like fiat currencies are backed only by confidence of the people. For me, the idea of using bitcoins to pay for wares and services is the similar analogy pulling up a big finger to greedy bankers as they impose an interest on the money loaned from central banks to Governments which is then passed on to you; the hard working people. This is why I use Bitcoins and screw the pound, dollar, euro, etc.
|
"Everything is a matter of degree"
|
|
|
Zetor
Newbie
Offline
Activity: 5
Merit: 0
|
|
May 24, 2013, 06:02:19 PM |
|
Bitcoins have pretty small financial liquidity at this time. So it's resonable to invest only small amount of money - max few thousands $. If you buy fe bitcoins for 1M $ stock price would propably rise a lot.
|
|
|
|
|
|
gambit1
|
|
May 24, 2013, 06:56:32 PM |
|
"But over all it's profitable. If you keep your coins long enough they will go up in value, you just have to wait for the difficulty to go up Smiley"
I can't agree with that. It is not even certain that bitcoin has a long term future and its current high price is not related to supply; it is driven by speculative forces. I believe that bitcoin will grow but that is a belief, not a certainty.
"In my view, I think that bitcoins are worth more than printed fiat currencies as they are not backed by the "gold standard" anymore. Bitcoins like fiat currencies are backed only by confidence of the people. For me, the idea of using bitcoins to pay for wares and services is the similar analogy pulling up a big finger to greedy bankers as they impose an interest on the money loaned from central banks to Governments which is then passed on to you; the hard working people. This is why I use Bitcoins and screw the pound, dollar, euro, etc."
Me too but that is a political perspective, not an investment perspective.
"Bitcoins have pretty small financial liquidity at this time. So it's resonable to invest only small amount of money - max few thousands $. If you buy fe bitcoins for 1M $ stock price would propably rise a lot."
Liquidity isn't too bad if you use the right exchange. The problem is if you buy bitcoins now you are buying at quite a high price; a price that could fall substantially and stay at a lower level for a long time. I don't think that bitcoin are a bad long term investment and they have been very good for me but its important to be realistic.
|
|
|
|
|
|
tskweres
|
|
May 24, 2013, 07:15:51 PM |
|
1000% yes
|
|
|
|
bennett616
Member
Offline
Activity: 70
Merit: 10
http://www.freebitcointips.co.uk/
|
|
May 24, 2013, 07:16:37 PM |
|
na....... :/
Andy B
|
|
|
|
|
jml
|
|
May 24, 2013, 08:00:59 PM |
|
"In my view, I think that bitcoins are worth more than printed fiat currencies as they are not backed by the "gold standard" anymore. Bitcoins like fiat currencies are backed only by confidence of the people. For me, the idea of using bitcoins to pay for wares and services is the similar analogy pulling up a big finger to greedy bankers as they impose an interest on the money loaned from central banks to Governments which is then passed on to you; the hard working people. This is why I use Bitcoins and screw the pound, dollar, euro, etc."
Me too but that is a political perspective, not an investment perspective.
You are quite mistaken, it is not a political statement, it is an ideology based on economic morality (which the financial institutions lack) and the crisis of capital. Furthermore, it is one of the main reasons why Bitcoin was developed a) to avoid central banks taking a cut from transfer fees, b) provide a distributed currency which is controlled by the public, and NOT by a single exclusive entity AND c) send money from person a to b easily and securely. Look up http://www.themoneyfix.org/. You will see smaller communities stricken by austerity using other types of limitless currency (such as time) to pay for goods and services without the risk of inflation and added interest on loans which in turn devalues your money and end up with less because you have to pay interest on the money you use. Look into the following resources: Professor David Harvey's books and lectures on "Crises Of Capital". http://en.wikipedia.org/wiki/Henri_Lefebvrehttp://en.wikipedia.org/wiki/Right_to_the_city |
"Everything is a matter of degree"
|
|
|
|
gambit1
|
|
May 24, 2013, 08:11:10 PM |
|
An investment perspective doesn't necessarily have "economic morality". The guy who posted this asked if it was a good investment. What he is likely to have meant is: will I profit from this?
I know you mean well but I don't need a lecture on economics or on the iniquity of the prevailing monetary system. I am well aware of that iniquity. What you need to realize is that bitcoin means different things to different people. Some people are committed to bitcoin as a political phenomenon that represents economic freedom, and you seem to fall into that category. Some people are just curious about it some people are interested in it from a technological perspective (interested in the cryptography). Some people are just interested in speculating in bitcoin and have little if any interest in its political implications. Without further information I have to assume that the guy who posted asking whether bitcoin is a good investment falls into that category, as do you.
|
|
|
|
|
NewLiberty
Legendary
Offline
Activity: 1204
Merit: 1002
Gresham's Lawyer
|
|
May 24, 2013, 08:12:46 PM |
|
Just keep in mind that it "could" go to zero. Don't bet the family, but maybe bet the car.  |
|
|
|
Matthew N. Wright
Untrustworthy
Hero Member
Offline
Activity: 588
Merit: 500
Hero VIP ultra official trusted super staff puppet
|
|
May 24, 2013, 08:19:32 PM |
|
If you're asking is bitcoin a "Sound investment" ("financially strong, secure, or reliable"), the answer would be not even close. Investing in bitcoin is absolutely speculation (read: gambling), but even I admit there is a certain amount of cultism behind it that will keep the price propped up to certain lengths. When bitcoin is useful for more than buying coffee and ugly strippers on reddit, it may be a better investment. Being a good or bad investment has never stopped people before though. Do what you believe is right as some things aren't about money, even literal internet money.
|
|
|
|
|
