Bitcoin

Wallet take for you to shower me?

http://en.wikipedia.org/wiki/Bitcoin

What?

I love the idea of cryptocurrency but haven't ever used Bitcoin and I have my doubts about the ability of it to go mainstream in the near term. Unless that proves false it's only plays the role of a really cool idea in my life.

Holy ****.

Family and friends are sitting on $75,000. to $250,000. in crypto currency stocks—not Bitcoin.

One family friend bought in on Bitcoin a few years ago, and if he doesn’t get caught on the bubble, he’ll retire at 33.

Even though it’s crazy late, if you have disposable income, might want to research the cryptoes.

Trying to understand his motivation.

https://www.google.com/amp/s/www.wsj.com/amp/articles/peter-thiels-founders-fund-makes-big-bet-on-bitcoin-1514917433

Simply put, bitcoin is a digital currency. No bills to print or coins to mint. It's decentralized -- there's no government, institution (like a bank) or other authority that controls it. Owners are anonymous; instead of using names, tax IDs, or social security numbers, bitcoin connects buyers and sellers through encryption keys. And it isn't issued from the top down like traditional currency; rather, bitcoin is "mined" by powerful computers connected to the internet.

The keyword here is "disposable". When you buy a bitcoin, you are buying nothing but hype. The only reason they have value is because everyone thinks they have value. They could crash in a minute... or they could keep rising. No one knows. It is an extremely risky bet to make.

Before you spend money on bitcoin, you should read about "tulip mania". This was a period of time when the value of tulips rose precipitously in the 1500s, and then crashed suddenly. Millions were made, and millions were lost... all over something with little intrinsic value.

Disposable income means money that you don't mind flushing down the toilet with nothing to show for it. If your money is truly disposable, then by all means buy bitcoin. I wouldn't risk my retirement on it.

Yeah, to me, buying stocks is always a gamble.

There is a big difference between buying stocks and buying bitcoin. When you buy stocks, you are buying something with intrinsic value... there is actually something (a business) behind the stock that gives it value.

There is nothing behind bitcoin other than hype.