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  1. #1
    Technician rbazan's Avatar
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    Who is investing in Bit Coins-

    Is anyone investing in Bit Coins- is it safe?


  2. #2
    Service Manager 1,000+ Posts
    Who is investing in Bit Coins-

    SalesServiceGuy's Avatar
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    Re: Who is investing in Bit Coins-

    Great topic!

    I know a guy who has bought three Bitcoin miner/computer machines. I do not fully understand it but I know these machines use a lot of electricity.

    I have seen Youtube videos of hundreds of BitCoin miner machine in one shed in China. And then the camera pans out to reveal five sheds.

    YouTube

    It is hard to spend Bitcoins on real things.

    Supposedly the returns have been fabulous but depending on when you got in you might be late to the party.

    There was a news story where BitCoin was hacked!

    Mt. Gox - Wikipedia


    It is basically a casino. If you are thinking about it and can not stand to lose $10k walking around money, 151%, of course, it is not safe! Do not be a schmuck!

    20 years ago I was at the great casino of the American stock market. I lost $60,000.00 USD in two days on a stock called Broadcom. I was margin called and forced to sell. You know how long that takes to pay that off at $500.00 per month! 10 years!

    fugedaboutit!

    Last edited by SalesServiceGuy; 01-13-2018 at 03:50 AM.

  3. #3
    Senior Tech 100+ Posts
    Who is investing in Bit Coins-

    Ratchet2501's Avatar
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    Re: Who is investing in Bit Coins-

    I wish I could remember the author of the article but there was a report recently of a guy who made a mistake and to "clean up his mess" he deleted a ton of data related to bitcoins costing a lot of folks a lot of money. No thanks. I know for a fact that there are ways of making crypto currency work and make real money but that's too much time and capital for my tastes.


    Edit: found the article.

    '$300m in cryptocurrency' accidentally lost forever due to bug | Technology | The Guardian


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