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Bitcoin: A Currency? Or a Speculative Security? Hmmm...

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posted on Jun, 2 2017 @ 06:25 PM
The bitcoin network is too large to be sustainable. I have read many transaction can take hours to days to weeks to get through and some get lost. I would be extremely wary of investment because of the fact that exchanges are run by criminals who claim their system was hacked for millions of dollars worth of coins then disappear or run off to China with said coins.

Here are a couple of examples to name a few:

Mt. Gox is one example of course. Mark Karpeles, the owner, was caught, confined to Japan and is being observed by the Japanese government. He will probably be very comfortable one day with the 650,000 bitcoins that were never found.

Big Vern, owner of Cyrptsy, just one day closed his exchange, claimed a hacker theft, which was proven otherwise, and skipped out with millions of dollars in coins. He is enjoying his stolen millions in Bitcoins and Litecoins under the protection of the Chinese government.
edit on 2-6-2017 by eManym because: (no reason given)

posted on Jun, 2 2017 @ 09:17 PM
a reply to: eManym
Many of the early crypto traders ended up getting stolen from, including myself. The amount would be life changing money for me but theres not much I can do. I store my coins in one time use offline wallets. I create a new wallet for my remaining balance every time I make a transfer. The thing about a decentralized currency is you cannot trust anybody. If you manage cryptos correctly you never need to trust anybody.

My latest BTC transfer last week took 20 hours. I was nervous because it was a large amount and it had never taken more than a few minutes before. If this trend continues it will solidify BTC as a longer term holding commodity rather than a currency.

posted on Jun, 2 2017 @ 09:22 PM
So, Etherum took over.......switch if ya like crypto.....

Two of em.....200 bucks and 2300 bucks.....

Yep, there's a difference .....ether is the future of all tech.......jump in....sell at up three days later......

Unless you're like me and have eBay silver stacked in an ammo box.......a hundred ounces is more than enough of that heavy stuff....

But get outta bitcoin.....due to Etherum taking over tech in the global's a computing apps, no

Life apps

editby]edit on 2-6-2017 by GBP/JPY because: (no reason given)

edit on 2-6-2017 by GBP/JPY because: Coza my head

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