As you might have noticed, every currency has it’s nickname, do you know what BTC nickname is? QUite easy, is FOOL because it is considered the Gold for Fools. Ha ha ha.
Haha very funny.I think the label [B]sh*tcoin[/B] is better for it.But you are right, it is like gold ,when the dollar cracks it’s value goes up, but investing in the bitcoin is probably a madness.I think the entire bitcoin industry is a ticking bomb, sooner or later everyone will lose their money invested, because bitcoin is not backed by any government or industry its just a made-up currency with 0 real value.
Yeah it may seem funny but actually its pretty sad that people buy into these stuff.I actually checked out how bitcoin works just for curiosity and all i can say it is a … pyramid scheme 
Yes you heard it correctly, all crypto currencies are pyramid schemes.There are the initial investors who pump up the value by spreading false information and overrating the instrument.Then more and more inverstors buy into it, so the value of the coin rises, and then once the ride is exhausted, the late-joiners will lose all their money and that goes in the pockets of the first investors.
It is pure pyramid scheme,which is more like a fraud rather than a legitimate investment, but so many people get scammed and lose their money…
I wonder when will its value suddently drop to its quarter, i will be laughting so hard
And since the coin is mined, when the algoritm will get so hard that nobody could crack it, ie the fastest pc on the world at the google HQ can’t, then will that happen,and since the hardness of the alhorithm increases exponentially but the coin supply is limited, it will crash, and very very hardly i can already feel it coming…
Very similar to subprime mortgages. Who buy these stuff, ignorants who only seek stability.
Bitcoin: 21st century tulips.
1998: - Nasdaq rising, everyone was saying - this makes no sense, the dot com companies add up to zero.
No what? - I wasn’t the only one not listening.
Mr Gone is right - have an attitude, don’t get sucked in -no matter what it is, have an attitude.
Edit: believe this if you dare:
BBC News - James Howells searches for hard drive with £4m-worth of bitcoins stored
Well, Richard Branson thinks its a brilliant idea to accept bitcoin as form of payment to go in space 
Tell that to his face maybe he will listen
Yep, Mr Branson knows also how to use the media.
“Bitcoin Buyers Beware: Being Greedy Ain’t Easy”
I’m guessing that a search will find the source of above.
Note: it seems the PR sent the story on Nov22… as I say, have an attitude …
Yea but bitcoin ain’t nasdaq.
Nasdaq is an index which contains many companies which either are service or production based.So those companies are real and active participants in the economy.And since those companies are active and real you have kinda guarantee that nasdaq wont drop from its current value to 0 in any second.
With bitcoin you dont have this, its a ticking bomb.When the supply of coin will cease it’s value will drop into oblivion.
While bitcoin is made up.It has no physical guarantee whatsoever.When the mining alhorithm will get so hard that its decyphering will be a challange even to the fastest PC on the world aka Tianhe-2 from China.The bitcoin supply will cease, and after that the value of it will exponentially drop, it will be just like the tulip incident in 1637.
Kinda is similar to bitcoint isnt it? Lets wait for that nice little crash in the bitcoin and laugh hard when those guys will lose all their money 
History will repeat itself!
But fortunately enough it wont cause a financial crisis, because banks and financial institutions have enough brains not to buy into this stuff.Only stupid uneducated people who know nothing about finance buy into this stuff, and eventually some of them will be lucky but most of them will lose their cash when the coin will fall into oblivion.
I agree with most of the points here, but just wanted to chime in briefly. First a disclosure, I started bitcoin mining before looking into forex.
The bitcoin value might crash after the mining stops, but that date is 2040 by earliest estimates and 2140 by some estimates.
I don’t think trading bitcoin is a good idea (forex is much better), but at current prices mining is profitable again. The bitcoin prices do go up and down, so to make money mining, you have to save mined bitcoins until the prices are up to levels you like (i.e. todays levels).
As long as you know it is a volatile currency and as long as the “ultimate” crash date is far ahead, I think there is still money to be made. Whether it is a better deal compared to forex trading or not, depends on your trading success.
Well if you are a miner you have nothing to lose except electricity to power your mining machine ,if you have one.But to trade bitcoin is a very stupid thing and this is that i`m against it trading the coin.It is very volatile and unpredictable, and whats worse its a ticking bomb, you cant estimate its drop of value ,it can happen anytime.If the confidence decreases suddently.
The childish thing about bitcoin is that on their website it is marketed: “it is not too safe to invest in it now, but that will change after more people will mine it”, excuse me but wont, its a pyramid scheme for what to be known.Since the pyramid scheme is illegal in most countries, scammers found a new way to disguise their product.And as all pyramid schemes there will be a huge crash, while after all news will say that blabla bitcoin got crashed, and after that the governments will ban the system, and so on.
It is not a legitimate form of investment, nor its safe, and it will never be.You can make money with it for some time, but if you already can trade, there is no point to trade in such hazard and unregulated markets as the bitcoin.Come trade forex which is the safest market out there
We know who rule an fabricates usd, gbp and so on. But BTC invetor is unknown. BTC is more a speculative object than a legal form of payment wich is the easiest to trade if you are willing to do so with a 350 pips spread. It is so easy to speculate with that is scarry. Also it has the same pattern of any bubble, I mean those in practice think is the solution for economy and they become reluctant on its final meltdown.
Exactement - however the nasdaq fell from over 5100 to 1100.
The strangest thing was that when you are inside a bubble it is almost impossible to see the bubble from the outside.
P/E ratios were crazy, nothing made sense, yet you were making money - to experience such bandwagon was exhilarating, you were part of the crowd.
Fuddy duddies trying to suggest that there would come a day of reckoning were laughed at… they were way too conservative … belonging to the old school… technology was the way forward and there was money to be made.
Often, I have reflected on my experiences of that era, from it I have learned much… there is one story that echoed through my mind ever since, the story of the emperor with the invisible clothes.
Smiling all the way to the bank. I used to be a miner back in the days when a small GPU was sufficient to get a blockchain mined.
The value wasn’t even a dollar per bitcoin.
It never really paid and all you could do with the currency is shop for some really illegal stuff on some encrypted sites.
Flash forward 4 years later,you need a min of 25Hash Butterfly GPU and the price is well over $1000.
I am against buying of bitcoin enmass.
But for those who have held the coins for a couple of years…good for us!
These kind of huge explosions always happen,but don’t generalize it, bitcoin isn’t the holy grail and it is very risky since it’s unregulated and it’s a ticking bomb.I`m not saying you did a bad thing, you were very very lucky, and hit the bird on the spot, but the majority still loses money.On the other hand just thing about it, huge explosions in price are not that uncommon, especially on the stock market.You buy a share from a crappy company with small capital and not much opportunity ahead of it, but it has a good idea which give them the overall advantage,and it only needs time to develop itself,buy & hold the share until it’s ready, and boom, it might become the next coca cola or mcdonald’s .Imagine those guys who bought the first coca cola shares back then, now they are all billionaires probably, including Warren.
So if you are into stocks, this stuff is very common, but you have to hold the share for years it is a long term investment, but very very profitable in the end.But the difference is that atleast the stock exchanges are regulated, while these new stuff aren’t
Those who has bought BITCOIN on 1200, they must be chewing their nails, it dumped down to 841 in matter of minutes.
Well, it does not give more credibility to BTC. Remember a lot of serious investors and institutions trusted in Maddoff. BTC is the clear example of human irrationality, how trying to seek stability people only finds their ruin.
At the start of the year I first learned about bitcoins and at that time the value was $100 each and it was $10 each 12 months before then. I nearly bought 5 of them only to sell them a couple of months later but in the end I thought it was a mugs game and I might have lost $500. Now I could of had $5k in my pocket but for sure I would have got rid of them the moment they doubled in price knowing me so I probably wouldnt have rode it out this far but hey some people have and good luck to them… gotta be time to get out right about now but who knows.
I dont like to think of it as fools gold… I remember when the dotcom bubble crashed and everyone thought online shops and online business was never going to make it only to be proved completely wrong in a few years. I like the fact that technology has caught up with regulation and government. Without technology currency was 100% under control but this cant really be controlled and its awesome that technology can do this. Unfortunately though the Bitcoins lend themselves particularly well to anything illegal, and there is no come back for fraud or illegal transacations with bitcoins which I guess is the downside. I am one person that is fascinated to see where this thing ends…
One thing bugs me though and that there are loads of other cryptocurrencies but bitcoins have only worked because of peoples perception that it is of value. But that is business all over… something is worth what someone is willing to pay for it irrespective of how much it cost to produce.
Well, it is undeniable the practical facts that this could have but the big mistake people are foolishly making is the search for the ultimate solution and the btc deffenders are too prettentious. At the end it would work like any currency but with fixed printed bills wich can be harmful under certain circumstances.
Lots of misinformation here. First of all, bitcoins won’t be so hard to mine that no one will be able to mine them. Bitcoin difficulty adjusts to how quickly the entire bitcoin network is mining. It doesn’t matter if ANY computer won’t be able to reliably mine BTC. If one could continuous find blocks, we can assume the network would be compromised. The bitcoin network is currently hundreds of times faster than the Tianhe-2.
Additionally, bitcoin.com does not recommend one keeps there savings in Bitcoin. This should seem obvious that you want savings in a STABLE currency and the USD has been the obvious choice. Yes, I agree bitcoin is not stable. However, BTC is very new and is gaining ground rapidly.