Would you invest in Bitcoin?

[QuarterMillionMan]

Would you invest in either Bitcoin's stock or the Bitcoin currency. The stock has been soaring, hitting $900 last night but dropped to $710 today. China is one of its biggest investors. CNBC has been discussing a lot about it recently, including today (11/19/13). It started in 2009 from a penny stock to its high last night. Congress today is currently discussing its concept on Capital Hill for more clarity. The only way I can explain it is it is a virtual currency. In the last year it has risen 4000%.

[rennigade]

I personally wouldnt. Bitcoins are what they are. They're never going to replace our currency. The powers that operate the fed reserve would never allow any other form of currency to replace whats already in place unless "they" are in control of it.

Not to mention...from what I understand theres no trail of who spent the money or where it came from or where its going?

Thats why its so popular on the deep web. The famous site that has now been taken down was called silk road. Bitcoins were the only way things could have been purchased from there for the very reason on not being able to trace it. When you're buying things such as illegal substances, trying to hire a hitman or buying sex slaves/human trafficking...you probably dont want to use paypal.

The deep web is pretty bizarre. Its interesting/messed up to read about and see what kind of stuff goes on there...but not something most people will ever dabble in, including myself!

[J.Apple902]

There are 3 massive red flags to me and reasons why I would never invest in such a thing:

a) its centralized in the off shore, non-regulated sector of Cyprus
b) it was the only currency accepted on the illicit black market site "silk road" which was shut down due to trade of guns and drugs
c) there is no intrinsic backing of the currency, making it a 100% fiat currency

bitcoin was something to be speculated with back in the day @ $20 bitcoin or below. It was far and away lost it's allure to buy in now.

[greenskeeper]

use a fiat currency to purchase virtual currency, what could go wrong?

[J.Apple902]

yeah i was personally cringing while typing fiat bc im the pot calling the kettle black here. USD is fiat too and has been since 1971 :P

[Rogerthat11]

Would you invest in either Bitcoin's stock or the Bitcoin currency. The stock has been soaring, hitting $900 last night but dropped to $710 today. China is one of its biggest investors. CNBC has been discussing a lot about it recently, including today (11/19/13). It started in 2009 from a penny stock to its high last night. Congress today is currently discussing its concept on Capital Hill for more clarity. The only way I can explain it is it is a virtual currency. In the last year it has risen 4000%.

I wouldn't invest in it for the long run, but if you know how to trade it wouldn't be bad to hold as a trading position if your investing just a little in hopes of making a nice flip. It isn't really a secure investment in my opinion though, and is extremely volatile.

[Sean_DeSilva]

the last thing I'd ever want to do is put money into another currency as an "investment". that's just my opinion though, it seems there's no shortage of people who are willing to exchange dollars for virtual coins.

[danielhermann]

The bitcoin is making waves. Recently I heard that you can buy and sell real estate through bitcoin. If this was regulated and there was some oversight by any authority, I would not mind investing, but not in the way it is positioned as of today. Too unreliable for me!

[QuarterMillionMan]

Bitcoin's volatility might make it intriguing to invest for some people. It goes thru some major swings either dropping in increasing by $100 a day or more in some cases. That is too much for me to stomach.