Discussion
On the basis that a lot of the traditional "solid" investments I have are not doing that great I am tempted to buy and hold some bitcoins. By buy and hold I mean longterm - 5 to 10 years.
Clearly this is a gamble and not an investment.
On the surface it is a classic bubble, but when you dig (excuse the pun) a bit deeper there is a growing economy based on bitcoin and the many clones.
I have some cash free from another very high risk investment a few years ago - which worked (and yes it does make a change!) so I'm happy for this to be put into another high risk investment.
Mining seems to be a done deal now - those with their own personal farm of ASIC cards are making money but nobody else is, so the only realistic option is to just buy and hold.
Yes/No/Mad/Genius?
Thoughts please?
Clearly this is a gamble and not an investment.
On the surface it is a classic bubble, but when you dig (excuse the pun) a bit deeper there is a growing economy based on bitcoin and the many clones.
I have some cash free from another very high risk investment a few years ago - which worked (and yes it does make a change!) so I'm happy for this to be put into another high risk investment.
Mining seems to be a done deal now - those with their own personal farm of ASIC cards are making money but nobody else is, so the only realistic option is to just buy and hold.
Yes/No/Mad/Genius?
Thoughts please?
I've used bitbargain to buy in the past - seems to be safe, as mentioned they use an escrow method.
To hold/store them you need a wallet (and do encrypt it and remember your passphrase!) - e.g. bitcoin-qt, but when you open it then it will download the entire blockchain which can take some time.
To hold/store them you need a wallet (and do encrypt it and remember your passphrase!) - e.g. bitcoin-qt, but when you open it then it will download the entire blockchain which can take some time.
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