I purchased around $100 dollars in bitcoins a few years ago, I've made several thousand off of it but only currently have around $2000 worth of bitcoin now.
That was a great time to buy bitcoin because it was before all of the hype. Do you ever do technical analysis on bitcoins or are you more fundamental? I know a few guys who are really into bitcoins and they are always looking at chart patterns with this stuff.
I don't do much analysis on it now, too busy with other stuff, but at one point in time I ran a very large bitcoin blog and information site. I exposed several scams, I was an anonymous member of the community but a very large member of the community. I am very familiar with the technical aspects of it as well.
Doing a little research, I wouldn't go so far as to call it fraud or a scheme yet. It seems to be a flawed and risky experiment in crypto-currency. I'm excited as to the possibilities that this might bring in the future, but as of right now, I'd stick with the dollar or investing in gold and cigars.
Raisindot: What makes you feel that Bitcoin is more susceptible to fraud, scam or theft anymore than Cash is? What makes you feel that Bitcoin is a ponzi scheme. I'd like to address these comments you made.
You are absolutely right that the govt and fed have a symbiotic relationship. Especially now. Gov needs dollars, fed wants to rev up economy, so they buy bonds on open market. Banks get dollars and govt gets free debt. Woo boo.
Bitcoin is just about the biggest scam ever perpetrated. An imaginary currency, not backed by any government or tangible collateral, totally unregulated and totally susceptible to manipulation and theft. It's the new Ponzi scheme for millenials.
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