Re: Buying Bitcoins in China

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#29815
Avatar photoBrendan
Moderator
Quote:
@Brendan if you had invested say $1,000 in BTC one week ago at $120 and you exchanged them for dollars now at $197 you would get your original $1k back plus an additional $640, gaining roughly 60% on your investment in 7 days time

Yeah I get that, if I’d had any interest it would have been great to be in early, just as it was with gold after the ’08 crash, but the cat is now out of the bag. Even if I had the time to remain fixed at my computer round the clock, you now have a ‘commodity’ that’s attracting wildly speculative investment. The whole thing is wide open to manipulation and potential failure, given that we’re talking about a technology that’s unregulated and in it’s infancy. There’s still money to be made in volume, but aside from that it’s going to remain a time consuming hobby with potentially zero or negative return.