I just bought a house today and used part of my bitcoin profits for the down payment. Yes, I even bought a bitcoin over $1000 but most of mine were bought between $300-$750.
I saw a chart of the percentage of bitcoin purchases the Chinese were making. They went to 50% of purchases in a little over a month. I knew the price would continue to rise and it did. I then invested in an alt coin and got lucky and made money that way.
More and more companies will use it in my opinion. They aren't making any more of them so while the supply stays the same the demand will only increase and so will the price.
Bitcoin has weathered several storms already and continues to hold value, unlike the bitcoin "tulip bubble" of 2011. The Chinese stated that they weren't going to allow withdrawals, Russia "outlawed" bitcoin use and Mt. Gox went bankrupt yet the price is still above $600 which is more than twice what it was just less than a year ago.
For those of you who think bitcoin doesn't have inherent value, the value it has is that it can be used as an exchange medium, just like a Visa card or Mastercard which also don't have inherent value.
I saw a chart of the percentage of bitcoin purchases the Chinese were making. They went to 50% of purchases in a little over a month. I knew the price would continue to rise and it did. I then invested in an alt coin and got lucky and made money that way.
More and more companies will use it in my opinion. They aren't making any more of them so while the supply stays the same the demand will only increase and so will the price.
Bitcoin has weathered several storms already and continues to hold value, unlike the bitcoin "tulip bubble" of 2011. The Chinese stated that they weren't going to allow withdrawals, Russia "outlawed" bitcoin use and Mt. Gox went bankrupt yet the price is still above $600 which is more than twice what it was just less than a year ago.
For those of you who think bitcoin doesn't have inherent value, the value it has is that it can be used as an exchange medium, just like a Visa card or Mastercard which also don't have inherent value.
Here is one of my problems with Bitcoin ( and I know you use the example of Stocks )
If I was playing at a Bitcoin Book, and got paid in Bitcoins ... let's say $1000 ... the very next day it "Could" be worth Less.
and here is where I Believe you are wrong using the Stock market excuse ... ( I Play the Market... and have long and Short term stocks )
When you invent in the Market on a Stock(s) it's gambling ( I think we can all agree on this )
But if I'm taking a payout from a Book.... I Already Gambled, and Won... so I'm getting Paid.
I Don't want it to be Another gamble AFTER I get Paid.
If I'm using Cash , CC, Credit, etc... to Gamble, if I lose... I lose.... if I Win and get paid... I'll have that money in my Hands. If i decide to Buy something... or put it away... it's Mine. I Know how much I was paid.
With Bitcoin ... unless you Cash out ASAP .. you don't know what the Win is worth.
Yes .. it could be worth more... But that's a Gamble I'm not willing to take.
When you play with a cash book, you have to leave cash deposits. If the book stiffs you, then you are out everything. The only thing you have to lose with a bitcoin book is the current amount that you have in play.
Use DirectBet as an example. You want to make a play in game for 1 BTC. You transfer 1 BTC from your wallet to the bitcoin address of the play. As soon as the game is over, the 1 BTC + winnings is returned to your wallet. Then you put the money in an exchange such as BTC-e. You turn the bitcoins to cash and let the cash sit overnight. It's a couple of clicks.
Use DirectBet as an example. You want to make a play in game for 1 BTC. You transfer 1 BTC from your wallet to the bitcoin address of the play. As soon as the game is over, the 1 BTC + winnings is returned to your wallet. Then you put the money in an exchange such as BTC-e. You turn the bitcoins to cash and let the cash sit overnight. It's a couple of clicks.
You can't compare the Two..
Neteller is processing your money and you know what you will have. Bitcoin, do you know what you have tomorrow ? the Next day... the Next week ?
and I agree with others... it was a GREAT idea. but it has flaws
and they have already had Bitcoins confiscated ... a Bitcoin Bank was Hacked ... or whatever it was. another went bankrupt ?? or was it the same ??
It's just not looking that good right now... only a matter of time.
An owner of a gold exchange just left without deliving gold. Bernie Madoff swindled billions of dollars. Companies in the stock market go bankrupt all the time.
It's just a matter of how much risk you are willing to deal with. If you do your research, bitcoin investing is not as much of a risk as some people would make it seem.
lol
