This year's best investment up 5250% ...

dryhat

jimjames wrote: »

Quadrupling in value in 3 weeks (if that is correct as per your previous post) is hardly the sign of a stable currency.

Other than speculation why would anyone want to hold such a currency that is so unstable?

Speculation is inevitable at this stage as people are investing in the future potential of Bitcoin.
Wild fluctuations in price will also decrease as the market cap. increases and more people use it.

I wouldn't be surprised to see a bit of a crash in the coming days or weeks.

brasso

dryhat wrote: »

Sorry.

I'm just very happy about having made so much money in such a short time and it's gone to my head somewhat.

You seem to have been ramping this highly dubious, frighteningly volatile commodity constantly for weeks,if not months, and I ask you to stop. It doesn't belong on a Savings and Investment forum, and the moderators have to step in.

blinko

dryhat wrote: »

I haven't posted on here or any board for days.

so it's hardly constant.

most of the posters are on here are not here to be spammed but to learn and try and get better at proper investing.

If you want to spam suspect investments go to trade2win.com forums where they will happily entertain you.

And also where you can get involved in proper investing and trading....

dryhat

blinko wrote: »

And also where you can get involved in proper investing and trading....

I've done all that "proper" investing for years and have done OK.

But it's boring and nowhere as near as profitable as my Bitcoin investments.

In fact, nothing has been as profitable as Bitcoin for years (and that includes leveraged property)

You stick to nickle and diming over 0.5% rate changes and I'll stick to Bitcoin.

blinko

dryhat wrote: »

I've done all that "proper" investing for years and have done OK.

But it's boring and nowhere as near as profitable as my Bitcoin investments.

In fact, nothing has been as profitable as Bitcoin for years (and that includes leveraged property)

You stick to nickle and diming over 0.5% rate changes and I'll stick to Bitcoin.

well then you should recognise the dangers of investing in bitcoin.

There is a reason why fund managers are not invested in bitcoin.

There is a reason why banks/merchant banks and brokers etc do not offer/trade bitcoin.

As mentioned before you should stop misleading people into the investment, if you want to talk about highly speculative currencies then you can go over to trade2win.com where there are a lot more people to debate with, although part of me thinks you already tried to and were blown out of the water

N1AK

sabretoothtigger wrote: »

Theres a website that shows market size for each coin. BTC is billions and the alt coins are sometimes only 50k or less.
So in size the large operations favour the bigger market.

There is a bias, BTC is actually easier to mine. Its possible to build specialist equipment, like a conveyor belt system.
The alt coins are mostly using computer graphic cards or bucket and shovels still so lots of people have these but they can do less transactions.

Does this make BTC superior and more efficient or more exploitable by big business, for now it seems to be helping

The BTC protocol is open. There's nothing inherently mining friendly about bitcoin vs any other virtual currency.

Bitcoin is doing well for the same reason most pyramid schemes do well. There's a lot of people who got in early, have some of the product and benefit by more people coming in and bringing the price up.

It does indeed have the advantage of being the first well known virtual currency and thus investors ask 'should I buy bitcoins' or think 'I need to get in on bitcoins' not 'should I buy a virtual currency, and if so which one'.

Even if the market for N1AKoins was small, say only £200k it would still make more sense to mine $10 in N1Ks than $2 in BTC because you could sell the $10 of N1Ks and buy $10 of BTC if you really wanted to.

sabretoothtigger

BTC has the advantage of Parallel processing
We'll have to get an expert witness on that one, for sha-256 encryption.

http://en.wikipedia.org/wiki/Scrypt
But here they specifically point out its more costly and most alt coins take this alternative route. Its deliberate to avoid this big business behemoth approach 'vulnerability' that btc has

specifically designed to make it costly to perform large scale custom hardware attacks by requiring large amounts of memory

Theres been other online attempts at currency. BTC has fallen over a few times, its not the first but it might be the first not to fall apart this far into the 'experiment' 3 years is long enough for someone to defraud the system, so far its just websites not the entire thing

A pyramid scheme has some feedback to centralise benefits from the many to a few but I dont see it happening here.
bubble is something else, thats more like feedback like housing and people invest more based on previous profit