Is investing in BITCOIN stocks advisable?

[moneyguy50]

Hey everyone, How would you rate investing in bitcoin stocks as of the moment?
Am really interested in getting valuable advice on the issue, and if possible highlight some legitimate companies that would be worth investing in....help wanted.

[Tabs]

BitCoin itself is a cryptocurrency.... Do you mean that or something related to it? Do you have any tickers in mind? No matter. Whatever it is, it sounds like an insanely bad idea. I mean, embracing the concept of cryptocurrency as a potential future storage of value is one thing, but speculating on anything surrounding BitCoin is entirely something else.

Do a quick search of BitCoin and you'll see that, beyond the explosion back in 2014, BitCoin has been on a steady decline in value ever since.

Do a quick search of Mt. Gox and you'll see that the exchange has flaked out and hacked before, resulting in permanent losses for people. BitCoin folks have had to mitigate this risk by "diversifying" into more than one exchanges.

I am a huge believer in cryptocurrency being a substantial form of currency SOME DAY, but for right now, everything about it reeks of speculation. Right now, you're essentially taking one of the most fringe forms of currency, without any government backing, making a speculative Forex bet, through exchanges that lack any kind of reputable backing or security. (Did you know Mt. Gox is short for Magic the Gathering Online Exchange?)

I mean, feel free to do whatever you want of course, but I would not call anything related to BitCoin as investing right now.

[CashUp Sammy]

Hey, I bought a bitcoin last November as a laugh more than anything.

I better go check the rate! half forgot I had it.

[feh]

I mean, feel free to do whatever you want of course, but I would not call anything related to BitCoin as investing right now.

+1

Anything having to do w/ bitcoin is speculation, not investing.

[annamarie]

heard of bitcoin but not in my league.. it's risky to take it as an investment

[Tabs]

Hey, I bought a bitcoin last November as a laugh more than anything.

The lowest price I see in the month of November 2014 is $323.74.

The current market value is $244.72

Still, I agree that your attitude is the best way to approach BitCoins right now. If you want to do it, just do it with your mad money and do it for the laffs.

[electric_mikey]

guys don't touch bitcoin.

i mean it all sounds like a nice idea, "the people" creating a new type of money for themselves.

but its just not going to work, we need governments to regulate these things.

[dczech09]

I do not play the Bitcoin game at all, and I recommend people stay away from it. Just like I recommend people stay away from peer-to-peer lending, precious metals, and commodities as investment opportunities.

These are examples of "fad investments," or simply speculation. Bitcoin is very new and does not have much of a track record. And the track record that it does have is terrible.

Warren Buffett says it best: "... be fearful when others are being greedy." If everyone is clammering for something, that is a good sign that you should avoid it. Bitcoin is a great example of this, just like gold was before it.