Thoughts on Bitcoin

[berry120]

Bitcoin's going insane - it's growth is ridiculous. Around a week ago prices broke the $100 barrier for the first time, and as of today it's broken the $200 barrier. Everyone says it's a bubble, and it probably is - but if it is, when do you think it'll crash and how much longer (if at all) do you think it'll rise before crashing?

 

[dale]

I think things are overly excited, but not to the extent of a bubble. There was a need to make a dent in PayPal's empire, and BitCoin saw to it.

 

[setishock]

I wouldn't use it. At the rate hackers are getting in to accounts it's a security nightmare.

 

[berry120]

I wouldn't use it. At the rate hackers are getting in to accounts it's a security nightmare.

If you keep your own wallet on your own personal computer, then you're not really at risk - it's only really a potential issue if you keep it in one of the online exchanges that hackers may target.

 

[jmacavali]

My thoughts: WTF is it?

 

[berry120]

It's a P2P, decentralised "currency".

https://www.weusecoins.com/en/

 

[jmacavali]

Ok so I barely (if at all) understand it but...seems like a fad. I don't know, seems like it's too much work. How do you get them? You have to buy them? I saw where it said that it's not worth it to CPU/GPU mine them, because it's not profitable. So they want people to buy them or to setup stores and sell things and accept bitcoins instead of money? Nah, I'll just take money thanks.

 

[drill]

Bitcoin's going insane - it's growth is ridiculous. Around a week ago prices broke the $100 barrier for the first time, and as of today it's broken the $200 barrier. Everyone says it's a bubble, and it probably is - but if it is, when do you think it'll crash and how much longer (if at all) do you think it'll rise before crashing?

I think that by the end of 2014, Bitcoin will probably crash. I see where they are going with this, but I just dont think it will last.

 

[berry120]

I think that by the end of 2014, Bitcoin will probably crash. I see where they are going with this, but I just dont think it will last.

I think you're probably right in all honesty - especially given the fact that as of today it's hugely started to crash anyway!

 

[jmacavali]

http://mashable.com/2013/04/11/bitcoin-was-the-victim-of-its-own-success-not-ddos-attack/