Originally Posted By: Astro14
Originally Posted By: alarmguy
Its a risky investment for sure and someone here posted it perfectly, "its only worth what someone else will pay for it" and that pretty much goes for anything.
One thing for sure, its here to stay, just keep in mind, bitcoin is only a small part of it, as of right now, its considered the standard by which all other coins are measured.
For me personally, out of the many, many digital coins out there, there are better choices and being diversified is a better option since at this point Bitcoin has increase in value so much.
My personal belief is these coins, the good ones, truly help the "little" guy.
It scares the heck out of banks and money institutions and some governments because they can not control what you do and they are not the middle man taking a slice of what you spend or save.
These coins were "invented" to be a world currency that could not be controlled by Wall Street banks, money managers and governments of repressive countries.
They truly to help the little guy control his/her own money, I see nothing wrong with that and if people would research it, they would see they were given a gift.
Its driving Wall Street NUTs, all the banks NUTS, the little guy won this battle, countless million airs born without the banks being the middleman, and again, it allows people in impoverished repressive countries to be free from that repression.
(todays thoughts
)
Well...you sound a lot like the Beanie Baby collectors that knew, just knew! That they were going up in value. You know, the people who couldn’t believe that I let my kids actually play with these “rare, collectible, investments”.
And a decade or two later, those “investors” are broke, I’ve got a portfolio of stocks, bonds, and mutual funds, and my kids enjoyed playing with the Beanie Babies.
Ever hear of the Tulip Mania?
South Sea company?
Yeah...thought so...
People who won millions in the lottery are broke, people who invest in traditional stocks are broke, people who invest in anything are broke.
Then ... there are the winners.
Who wins are only those, who cash out of their investments. The investments are worth nothing until cashed in for currency.
Good news is, people are free to choose what they want to invest in, if someone invests in ANYTHING they should know they are taking a risk.
HIGH RISK = equals high returns.
LOW RISK = lower returns.
Some people have money to put in high risk investments, EVEN ON WALL STREET. With Bitcoins they do not need Wall Street or the Banks to invest and it scares the heck our of them.
Cryptocurrency has changed the world forever, just like the internet did back in the early 1990s. No going back and no one is going to stop it.
South Korean banks are already using/experimenting with "Ripples" to transfer funds to Banks in Japan.
Instead of three days for companies and banks to wire and exchange funds or make payments by wiring funds on deals and transactions between countries, they can use Ripples and the transaction takes 2 TO 3 SECONDS, compared to 2 TO 3 days the old fashion way of wiring funds.
South Korea second largest bank is going to start allowing people to keep accounts with cryptocurrency.
When anything is new there is a HUGE risk, no different then investing in a NEW company or NEW property or investing in anything new. 75% of the time the new business will fail, the others will make money and a few select will hit it big.
Cryptocurrency is no different, well it is, it has world recognition and there will be MANY losers and a few big winners.
We are individual adults and can make up our own mind what to invest in and how much money we are willing to lose if it doesnt work out, no different then any other risky investment such as a start up new business where the failure rate is incredibly high.
