Bitcoin?

Candystore

Candystore

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If I want to invest money for my kids (or for any other purpose) is Bitcoin a good idea? I know some guys here make fun of it, so please rather educate me than laugh at me.
 
Far too volatile for any long-term growth projections. Fine if you want to play around with it, but for investments you can't afford to lose you'd be better off with more traditional investments - money market etc.
 
Candystore said:
What is the difference?

Oh and thank you to everyone for their explanations and opinions.
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Bitcoin is the currency, one of many.

The blockchain is the technology on which it is built and is the public ledger that links all the transactions together
 
I have been messing around with Bitcoins and my opinion is that I would not "invest" in it with the hope of long-term growth, it is very volatile.

By all means get some, there is great potential there, but DO NOT make that your primary investment.
 
Candystore said:
If I want to invest money for my kids (or for any other purpose) is Bitcoin a good idea? I know some guys here make fun of it, so please rather educate me than laugh at me.
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no its not a good idea. it's not a bond or a stock that can grow over time. it's currency and fluctuates wildly like currency does. Rather invest in something that will grow with compound interest over time
 
halfmoonforever said:
no its not a good idea. it's not a bond or a stock that can grow over time. it's currency and fluctuates wildly like currency does. Rather invest in something that will grow with compound interest over time
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The reality is bitcoin grew with 81% last year and did 326% 2 years to today.

The fact of the matter is that cryptocurreincies is real and it should form part of your portfolio. It is the new gold and its very wise to include some in your overall portfolio.
 
Thor187 said:
The reality is bitcoin grew with 81% last year and did 326% 2 years to today.

The fact of the matter is that cryptocurreincies is real and it should form part of your portfolio. It is the new gold and its very wise to include some in your overall portfolio.
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I very strongly disagree with you on that part. While I see the value in koin, I don't see the inherent value you speak of.
 
Thor187 said:
Why pay the extra fees if you can just buy the bitcoin.

It's a lot easier than gold so I get why the gold etf is there.
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^^

For something like koin, just buy some, put it in a paper wallet, lock it up in a safe and you're good to go.
 
Waylander said:
I very strongly disagree with you on that part. While I see the value in koin, I don't see the inherent value you speak of.
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Bitcoin is not perfect. It has a lot of problems that it is going to have to overcome. But to label it dead or to call for it to be replaced by something new is naive and shortsighted. This battle in the civil war will end, likely with Bitcoin Classic rolling out a hard fork with significant consensus. New applications will be built that provide more use cases for different audiences. And ultimately, the Internet will get its first, true payment protocol.

But Bitcoin is seven years old. It will take many years for the infrastructure to be laid and for these applications to reach critical mass. Facebook had nearly 20 years after the browser was released to reach a billion users. To imagine bitcoin’s true potential, we need to think in decades, not in months or years.
 
Waylander said:
I don't see the inherent value you speak of.
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a) He did not speak of an 'inherent value'.

b) This 'inherent' value that people go on about is a bit boring for me. Gold's inherent value is far lower than its price. The argument that if push comes to shove then only gold will matter is ridiculous. Gold price is far more about sentiment as it is about its industrial uses (5 %). If gold is valuable it is because people think it is rather than having some super special inherent value. Bitcoin has no industrial use at all but you can't eat gold or bitcoins.
 
Waylander said:
I very strongly disagree with you on that part. While I see the value in koin, I don't see the inherent value you speak of.
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Inherent value of $14,403,790,238 that is how much money is currently in Bitcoin. If everyone decided that there is no value a huge chunk of money disappears, not something people will willingly let happen.
 
Pilgrim said:
Inherent value of $14,403,790,238 ...
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Not really inherent, but that is a measure of value in the form of sentiment. Just as with most of gold's value.

Owning some coin is a fee-free speculative investment. Also interesting to learn about the blockchain and trade cheaply.
 
Thor187 said:
Bitcoin is not perfect. It has a lot of problems that it is going to have to overcome. But to label it dead or to call for it to be replaced by something new is naive and shortsighted. This battle in the civil war will end, likely with Bitcoin Classic rolling out a hard fork with significant consensus. New applications will be built that provide more use cases for different audiences. And ultimately, the Internet will get its first, true payment protocol.
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If only this sentence was in English!! I wish I could understand Bitcoin but really nobody can explain it to me in simple language. I feel so left out when they all start with geek speak.

If people want to save money for a future need e.g. kids' education, Bitcoin is not advisable? Should it jsut be used as a small side investment, or ....? Or what ?
 
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