Bitcoin Investors
With investors such as these guys in Bitcoin, how do you think it will play out for them in the future?
“We have elected to put our money and faith in a mathematical framework that is free of politics and human error,” Tyler Winklevoss said.
"One marketplace is an online bazaar, Silk Road, where narcotics are reportedly the main wares for sale. But bitcoin believers imagine a future where the e-cash can be used at their localStarbucks. "
Looking at these two snippets from the article, there seems to be an affirmative belief that bitcoin will be around for a while and keep rising. After reviewing the article and see the success investors are having and considering how it unregulated, is it smart to trust the site?
If it remains unregulated, the sales of narcotics throughout the world could easily keep it running if it becomes their form of currency. Do you think governments should enforce regulation on the site or let it be?
Would you consider risking your money in Bitcoin? Explain.
I would not risk anything in bitcoins, mainly because of this.
ReplyDeletehttp://www.bloomberg.com/news/2013-04-11/bitcoin-trading-halted-by-mt-gox-exchange-after-plunge-in-price.html
Personally, I think this is pretty crazy. Investing your money in bitcoin seems like too much of a gamble. I would never do it. There are obviously possibilities of huge profits, but as seen in Alex's link, also huge losses.
ReplyDeleteWhat if bitcoin were more easily regulated? I think the idea of having such a currency that is easily used internationally could actually be beneficial to world trade. Like all new ideas, bitcoin will certainly have ups and downs, but once fully developed (and regulated) I think the existence of such a currency could be a really positive thing.
ReplyDeleteIt is tough to say whether or not the government should place regulations on the site. If there is money circulating, it is hard to question ethics or morality in this economic and financial crisis. In my opinion, however, the government should place regulations on the site. Having a corrupted marketplace isn't the answer to our problems. I would personally not invest anything into the bitcoin craze either, it seems too risky and I don't have money to support risk.
ReplyDelete