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[noodle0117]

After I read this article: http://finance.yahoo.com/news/bitcoin-cyprus-sparks-scramble-digital-164900785.html
I have perhaps taken an interest in digital currency, yet at the same time I question whether investing in it is a good idea.
Bitcoins seem to have great potential for future gains, but at the same time it seems really risky to hacking/inflation.

What are your thoughts on Bitcoins bay12?

edit:
When this thread started, the bitcoin value was at about ~$150
Half a year later its at ~$1000.
Quite a curious world we live in.

[i2amroy]

An answer to the title in one word...

No.

[Mlamlah]

Heh, i think i remember a thread that tackled this issue just last november. Honestly the subject doesn't much hold my interest.

[alway]

The whole thing is set up like a pyramid scheme. A giant, decentralized pyramid scheme driven by speculation and get-rich-quick mentality, with little actual market value. Most people don't use bitcoins as a currency, they use it like a commodity; and as a result of that low utilization high speculation combination, it will continue to be extremely unstable and could crash entirely at a moments' notice.

[lordcooper]

Only invest what you can happily lose.  Just like any form of gambling.

[alexandertnt]

Its so increadibly unstable and unpredictable it is basically pure, dice-roll gambling.

Maby you could get rich, but that seems unlikely.

[Skyrunner]

You might as well invest in an RNG-guessing competition >_> High or low?

Reason: Bitcoins have nothing to moderate their value. Value doesn't wholly come from rarity... Besides, currency hedging is already pretty risky.

[Kansa]

It would be an extremely bad idea to invest in it

[GreatJustice]

If you've got money you're willing to lose, buy some now with that. Otherwise, wait and see whether other countries start imitating Cyprus.

[Leafsnail]

There isn't much you can do with Bitcoins at the moment other than buy drugs, really.

[Leafsnail]

The other big problem is that they frequently get stolen.

[Aklyon]

Its an interesting thing, but other than that anything I'd have to say has already been said here.

[MetalSlimeHunt]

My visions of the grim, dark future say not to invest in Bitcoins.

[kaijyuu]

My vision of the bright, happy future also says to not invest in bitcoins.

[Bauglir]

Were you one of the founders or early adopters who produced a large number when the algorithm was fast, and then sold them off while the hype was making them valuable? If not, then you'll almost certainly lose money on them. Bitcoins aren't necessarily a bad concept, in theory, except that nobody really recognizes them as valuable (making them not valuable, because economics is mostly complicated tautologies), and the mechanism for producing them transformed them into a clear pyramid scheme.