Also you forget bitcoin is not like money. Where you can just print more of it. Bitcoin is a finite supply. Only 12 Million bitcoins exist. Bitcoins can be broken down to the 8th decimal. So over half the bitcoins out have already been mined. If you don't think the best hackers on the planet haven't tried in three years with 2 billion dollar market sadly mistaken.
That's what makes it volatile. You seem to understand markets so you should clearly know that a finite supply, especially not pegged, could be disastrous if supply is not meant by sufficient demand. This is and will definitely be a currency solely dependent on the market's demand for it which is dangerous because it isn't attached to any tangible asset/entity that could be adjusted to stabilize any fluctuations. Like the winners of the nobel prize in economy figured out, even the "real world" markets are extremely dependent on behavior where stocks' performance are based on the public's optimism/pessimism and predictions.
Anyways, I do have some bitcoins but I'm seeing that its' growing popularity is making it more volatile and sensitive to consumer's perception which will definitely be an interesting thing to watch. Also, bitcoin is dependent on usage so cab drivers, online shops etc have to continue to accept bitcoins or else it would hold no real value.
So you don't like money? Please explain to me how it was a bad investment...
Just because you don't understand something doesn't mean its stupid to buy. Especially something that has proved quite strong over the last 3 years and really grown in the last 12 months. If you think getting a high ROI on your money is stupid its no wonder you probably have failed at life.
ROI doesn't apply to bitcoin, it's a term used to describe a company's performance in relation to investors' participation.
Its actually driven by like the stock market. Volume available/unavailable. Also its now has a commodity market place. Penny stocks could be profitable many penny stocks you can flip 300% profit. Penny stocks way more volatile then Bitcoin. Bitcoin in the last year has not gone below the point it was exactly a year ago. If you have any idea what your doing you will not lose money unless it goes belly up (way to much adoptions and commodities available).
It's actually not like the stock market since stocks are driven by physical performance and the consumption of a, in comparison to the bitcoin market, humongous participating population. Also, bitcoin is a great investment now because of there still being a supply but what happens when this finite supply stops and the market for it is only dependent on its usage? It will definitely be overvalued and the drop will be significant. Hopefully they'll understand the value of not releasing any information on the finite supply. You cannot hold an investment and be profitable if the endowment isn't performing.
