Investing in Bitcoins?

As many of you know,the value of Bitcoins has varied greatly. If we had bought in even at $100 per BC we could have made some serious money. B.C. is quickly becoming accepted by more and more businesses.

I would love to buy 5 or so but I don't have the money right now. Is anyone in here investing in Bitcoins?

Don't waist your time and money. The bitcoins are almost all mined and when they are all mined the value will stop rising. I mine all forms of cryptocurrency and BC are one of the coins that is simply way overmined by commercial miners that drove the difficulty thru the roof which also drove up there value but like I said they are almost all mined and BC I'm pretty sure has reached it peak value.

You would be better off investing in FC or DG.

this site has great info on how many coins have been mined for any giving cryptocurancy: http://blockchain.info/ just click on charts.

the problem with those digital currencies is that nothing guarantees their value. They could become worthless overnight, because it's not a real item.

Popcorn900 said:

Don't waist your time and money. The bitcoins are almost all mined and when they are all mined the value will stop rising. I mine all forms of cryptocurrency and BC are one of the coins that is simply way overmined by commercial miners that drove the difficulty thru the roof which also drove up there value but like I said they are almost all mined and BC I'm pretty sure has reached it peak value.

You would be better off investing in FC or DG.

this site has great info on how many coins have been mined for any giving cryptocurancy: http://blockchain.info/ just click on charts.

Click to expand...

Bitcoin wont be completely mined on till the year 2140. And, Your point of view is ass backwards (no offense) While people are mining there will always be a steady flow of bitcoins being sold for fiat. Which drops price significantly considering most of the people mining nowadays are doing it as a business. Once bitcoin has been 100% mined the network will run on transaction fee's alone and probably be unprofitable to mine unless price improves 100 fold.

As for your altcoin statement. No he wouldn't be better off investing in altcoins FTC, NMC, DGC, DOGE for example have all gone down the crapper.

m3d1c1n3man said:

the problem with those digital currencies is that nothing guarantees their value. They could become worthless overnight, because it's not a real item.

Click to expand...

Fiat isn't really worth anything unless you live in a country basing their currency on the gold standard.


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Personally in this vastly bearish market I wouldn't invest in bitcoin at the moment. Especially if you have a significant amount of money. Imaging that nestegg reducing by 1/2 - 3/4ths due to current market conditions. Over the last few months btc has depreciated in value from $1,200 per bitcoin to $400 and in my opinion still has more depreciating to do. Don't get me wrong I like bitcoin and have made decent money with BTC and several altcoins but at this point considering the state of the bitcoin and most altcoin markets it's just not a good idea.

Deffinitly buy some, now is deffinitly not a bad time.

Fiat is better in the sense that each country has a tax base to value their currency.

I still don't understand mining

Mining is basically solving a mathematical problem with the help of your computer. For solving this mathematical problem you get rewarded an x amount of bitcoins.

Now. Because these problems are incredibly difficult and take a shit load of computing power, people join, mining pools, which means they contribute their computing power (their compter(s)) to a group of people in order to solve the problem faster. When the problem is solved each person who contributed to the pool gets a portion of the reward, proportionate to the amount of resources they contributed to the group. So if there is 10 guys mining, and each one contributes an equal amount to the pool they get 1/10th of the total reward. Currently there is 50 bitcoins rewarded for every problem (block) solved. So in theory given our 10 guys, each would get 5 bitcoins as a reward for that particular puzzle.

That's basically it LOL