Investing in Bitcoin

[Junior]

I'm just going to provide on a little bit of insight on what I know and think is going to happen with Bitcoin(BTC).

Lately there's been a lot of controversy concerning Bitcoin especially about the US government auctioning off the Silk Roads assets which you can find HERE, a lot of people are predicting that it'll crash after this but I believe since people are treating it more as a stock they're going to want to hold as much as they can so there's less Bitcoin circulating the market which will inevitably bring the price of Bitcoin higher since there will be a higher demand but lower supply.

I predict that Bitcoin will hit the $1,000 mark once again before 2015, why you ask?

Expedia.com the well known travelling/hotel is accepting Bitcoin as a payment method now.
http://blogs.wsj.com/moneybeat/2014/06/11/expedia-starts-accepting-bitcoin-for-hotel-bookings/

More and more companies are starting to use Bitcoin these days, from small restaurants to even larger companies such as eBay who are jumping aboard the Bitcoin bandwagon.

ALSO Bitcoin ATMs are opening up around the world now, there are quite a few here in Canada as well. Here's a link to see if there's an ATM near you.
http://bitcoinatmmap.com

As time goes on people's curiosity will stretch out to this volatile currency because it's new and innovative.

So people of FK, what are your thoughts on BTC? Do you think it will crash/rise and when do you think it'll happen and why?

 

[Seven]

I honestly think your predictions are correct. Company's investing time and money into Bitcoin is only going to help it grow. Something like Bitcoin can not crash in my opinion. Too many people have already invested, therefore, they are going to continue to treat it as a valuable. Even if it DOES crash, if someone bought a Bitcoin for 1,000, they are going to want to save it until they can get their money back and more. More than likely no one will sell low since everyone already invested so much, I think the minimum bar for 1 Bitcoin is around 500. I do not every think it will drop below that.

PS:
I know nothing about this kind of stuff, so I was just giving you what I thought.

 

[Trojan]

Shit is the future, Newegg.com recently started accepting it as well, it's more mainstream than ever. It will hit $1,000 like it did before, just a matter of time, that's why i'm holding coins right now and not selling except to buy small items and what not.

 

[Epidemic]

My concern about bitcoin is there's no tangible asset behind it. Various countries currencies have property, gold, tangible assets to sustain the value in the even of a crash. Bitcoins are based on only a perception of value that could evaporate immediately in the clouds.

 

[Devour]

My concern about bitcoin is there's no tangible asset behind it. Various countries currencies have property, gold, tangible assets to sustain the value in the even of a crash. Bitcoins are based on only a perception of value that could evaporate immediately in the clouds.

So buy a real Bitcoin #problemsolva

 

[Trapped]

Here's something interesting I want to share with you guys.
@"Junior"
@"Seven"
@"Trojan"
@"Devour"


It gives a few reasons why the NSA might be the creators of bitcoins:

Bitcoins uses SHA-256 which was developed by the NSA
During the 90s, the NSA was doing research on crypto-currencies
It looks like it's a project way too big for a single individual
BTC's creator had access to a lot of equipment
BTC's creator mined 1 million BTC which could be used to crash the bitcoin markets if sold at once
BTC's creator behaviour is suspicious

And I think I can add my very own hypothesis : it's that liberty reserve closure could have been plotted in order to promote Bitcoin amongst cyber-criminals.

 

[Devour]

Here's something interesting I want to share with you guys.
@"Junior"
@"Seven"
@"Trojan"
@"Devour"


It gives a few reasons why the NSA might be the creators of bitcoins:

Bitcoins uses SHA-256 which was developed by the NSA
During the 90s, the NSA was doing research on crypto-currencies
It looks like it's a project way too big for a single individual
BTC's creator had access to a lot of equipment
BTC's creator mined 1 million BTC which could be used to crash the bitcoin markets if sold at once
BTC's creator behaviour is suspicious

And I think I can add my very own hypothesis : it's that liberty reserve closure could have been plotted in order to promote Bitcoin amongst cyber-criminals.

Nigga talks to me like a know what a coin bit is.

 

[Trojan]

Here's something interesting I want to share with you guys.
@"Junior"
@"Seven"
@"Trojan"
@"Devour"


It gives a few reasons why the NSA might be the creators of bitcoins:

Bitcoins uses SHA-256 which was developed by the NSA
During the 90s, the NSA was doing research on crypto-currencies
It looks like it's a project way too big for a single individual
BTC's creator had access to a lot of equipment
BTC's creator mined 1 million BTC which could be used to crash the bitcoin markets if sold at once
BTC's creator behaviour is suspicious

And I think I can add my very own hypothesis : it's that liberty reserve closure could have been plotted in order to promote Bitcoin amongst cyber-criminals.

Nice theory, but the market would recover just like it always has, and BTC is P2P and they wouldn't create something that can't be stopped whenever they please. Satoshi knows what he was doing, he didn't reveal his identity because he knew bitcoin would be big and he would possibly be a target. Read his first paper if you're interested, Bitcoin: A Peer-to-Peer Electronic Cash System. Also, SHA-256 is approved for government use by the NSA, why would they use it if someone can possibly find the backdoor they supposedly implemented?

---

My concern about bitcoin is there's no tangible asset behind it. Various countries currencies have property, gold, tangible assets to sustain the value in the even of a crash. Bitcoins are based on only a perception of value that could evaporate immediately in the clouds.

There are assets behind it, various hedge funds have invested millions into it, look at coinbase.com and how much they are backed. It has value because it is in demand, and as long as it is in demand, it will be of value.