There's nothing driving the value of bitcoin except speculation. That's it. Money/currency around the world is backed by gold. There is no gold to back bitcoin. It's a made-up currency that you need to buy using "real" currency.
So, you've already told me that your skills are in IT networking and project management. And you're threatening me that you are a hacker?
...maybe.
http://www.bloomberg.com/news/2013-...o-record-on-wider-acceptance-china-trade.html
The digital money, which can be used to pay for goods and services on the Internet, has risen 20-fold so far this year, as trading activity has increased. Bitcoins were trading at $251.36 apiece at 6:30 p.m. in New York on BitStamp, one of the more active Web-based exchanges where Bitcoins are traded for dollars, euros and other currencies.
You will want to do some stock research before jumping on the bandwagon. Take a look at any stock in the world that has grown exponentially over a short period of time and see what happened. Whether it was blue chip stock, energy stock, or whatever, the bottom will drop with the winners who sell out early. It's all driven by speculation. It's high risk.
I'm willing to guess there are people, like irishfury, whose main job is to infiltrate the hundreds of forum websites that are out on the web and to draw in more buyers for bitcoin in order to increase demand, thereby increasing value. Then, at whatever point in time, those who are on the "in" will sell their stock at a peak value while the Tokyo Exchange is open (bitcoin was started by a Japanese dude), and let the suckers in Europe and America wake up to a $5 stock value the next morning. I warn you now.
Hmm, so like I said in the beginning, bitcoin is trash.
If it wasn't, you'd be buying more.
bitcoin's "pseudo-bartering" system is really getting its momentum by money being getting laundered on the black market. That's what is giving it value right now. The Silk Road bust was just the tip of the iceberg. All the millions of drug dollars around the world that needs to be laundered without tracing it back to the original buyer can be done via bitcoin sales. You need to get businesses on board to take bitcoin in exchange for products which can then be bought and resold in a legitimate marketplace. Money = washed. Buyers of bitcoin stock don't know it, or don't want to believe it.I plan on buying more just not at the moment. I just don't expect it to maintain at its rapid climbing rate at the moment. It's called following trends and making and educated guess. You know like a guess that would have yielded a 40% return on investment like I did at the beginning of this thread.
I would love to attend a economics class from you.
Unit321:Class the dollar is backed by gold at Fort Knox. Also 40% ROI on a your investment in under 30 days is trash.
Class room:
