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Are bitcoins a good idea for investing?

By mesusah25 ·
Tags: Off Topic
Anyone tried to earn money with them?
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probably not

by john.a.wills In reply to Are bitcoins a good idea ...

If bitcoins fail to replace any of the extant currencies, they will become worthless. If they do replace at least one of them, how are we to know in advance what the rate of exchange from the present to the future currency will be? A bitcoin today costs thousands of dollars US; maybe it will stabilize at a lot less than that, making it a bad investment.

The advantage of bitcoin over the dollar is the blockchain. But the dollar-using bankers are getting their software workers to implement dollar blockchains. So I think the chance of replacement of the dollar by the bitcoin is pretty low.

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Not for becoming very rich

by Mesusah In reply to Are bitcoins a good idea ...

In general they're really profitable but everything depends on prices changes, it's like gambling a bit so becoming rich is possible in their case but that happens rare because ut's impossible to predict how prices for certain cryptocurrencies will change in future. I'm a rather new person for bitcoins, I started to trade and buy them several months ago and I'm glad to see that's now they up and it's a very good time for making operations with them, I'm going to sell mine and get good profit. Also I got interest in mining strategy so I'm curious to try it in future too. I read many information about it, seems that classic one is too expensive for average user because of equipment and electricity so I'm thinking about cloud mining instead. Saw positive reviews about it and from many descriptions it looks really convinient. I'm warned about possible scam too so want to try totally safe Genesis Mining or Hashflare for the first time. However I heard that fees for it are too high and bad for your profit, is that true? It seems that not all companies are so expensive in this case, also there are many bargains for them too like special coupons and promocodes http://hashflarecode.com/ .

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Don't think so

by tirtha8586 In reply to Are bitcoins a good idea ...

It is kind of a gambling where you have no idea when the prices will increase or decrease.
So getting richer or facing loss is not in your hand

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Bitcoins as an idea for investment

by asamits765 In reply to Are bitcoins a good idea ...

Bitcoin is a very unstable and fluctuating currency. You can't predict when it reaches the peak and when comes to land. Investing in bitcoin is like gambling a there is no surity of its stability. If anyone wants to invest in this, he/she can start with a low amount.

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