As I read your post, I am listening to a presentation here:
http://pro.moneymappress.com/NVXBITCOIN2014/LNVXQ253/?h=true
You might check it out.
I am not into Bitcoin, and do not understand it.
I’m selling some Pogs on ebay.
I can send you a link.
????
You’re seriously soliciting financial advise from anonymous people on the internet??
OK, then... I’m selling carbon credits. Half off. No checks. Today only.
If you don’t know about something and haven’t even been following the news articles about it recently, it is probably a very bad thing for you, personally, to invest in. Stick with things you understand and be conservative in your investments until you get the hang of it.
I am not asking you, but possibly it would be wise for you to ask yourself why you are trying to make money with extremely risky investments in areas about which you know nothing. This is not prudent. Why do this when you are vanishingly unlikely to make money, and quite likely to lose it?
Bitcoin is a made up currency with no backing that was created by a hacker, is being cracked down upon in the US and Russia, and has been abandoned by Apple, and which you can’t cash out of on at least one major exchange.
It has the appearance of a pump and dump exercise. Or at least tulip bulbs.
If you go into Bitcoins, don’t think of it as an investment, but as entertainment, the way people think of gambling in Las Vegas.
Bitcoin is the anti-Buffett investment (violates almost every one of his principles):
-nobody understands it
-nobody understand what value it should have
-fluctuates immensely for no apparent reason
etc...
Go to the ixquick.com search engine and search for “Bitcoin”.
There will be a number of search results that are for, against, and neutral with respect to investments in bitcoins. The basic concept of Bitcoin is based upon using computers to create the Bitcoin by solving a cryptographic encryption and then using cryptographic keys by computer to transfer the bitcoin to other people. There is a basic flaw in the concept which arises as the Bitcoin cryptography begins to reach the limits of its cryptographic sizing. There have also been some issues with exploits of the bitcoin authentication. Sovereign governments are also posing new threats to the usage of bitcoins. The search results discuss these and other problems.
My simple, cogent advice, is to spend your neurons learning about something else.
Penny stocks >> Bitcoin?
Urk. Scams.
One word:
Plastics.
I have some S&H Green Stamp books I will sell you real cheap.
Ping.
Bitcoin has tanked and will soon be dead dead dead. Avoid like the plague
Bitcoin was designed to be a currency independent of government currency .It’s independently verifiable, easily traded and stored electronically. It’s very easy to hide , stay anonymous and yet still trade. In short Bitcoin is a collectivists worst nightmare: a form of wealth transfer they have a hard time stealing. It’s value comes from the difficulty looter states have in stealing it .
Gold historically has had a similar role but gold is much easier to understand though harder to move around and hide.
Because of its similarity to gold at thwarting the Stalins and Obama’s of the world , it’s current price, in my opinion. is much higher than it would be if the US was not facing dictatorship or moronic leadership. (Gold prices went way up under FDR and Carter then fell) I’m sure some very clever folks in Government are even now trying to figure out ways to deflate the Bitcoin.
To sum it all up , the time to buy would have been years ago as it is overvalued and likely to be shut down.