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Old 04-11-2013, 09:10 PM   #62
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Join Date: Aug 2005
Location: Denver
Posts: 12,755

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Originally Posted by Arkie View Post
I'll concede that it's more of a commodity at this very early stage. It's not a worthless dot com play though. Bitcoins take expensive equipment and real energy to mine.

bitcoin mining
The only value Bitcoins have is whatever the next guy will pay.

Calling it a commodity is generous; commodities have a market value, like housing, they have a 'floor,' you don't lose everything......assuming it's not a futures margin.
Bitcoins are imaginary 'monopoly' money and an interesting speculative gamble where you can lose 'everything.'

To be a 'currency' it must be indexed if it is to be stable. For now, it's a high risk, short term play. There is money to be made if you can afford to lose it all.

Blackjack is safer.
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