Disclaimer: I used to be very excited about Bitcoins, but the current prices are way too high, IMO.
I'm a little late when it comes to Bitcoins...
Too late to buy them for one penny each, but you can buy a few and/or start a Bitcoin related website.
Is using and investing in bitcoin safer...
The economy is growing and you can buy many things with Bitcoins.
Used to be extreme high risk/also offering extreme high reward.
IMO, unless they back off to around $30 or $40 (or less) then they are currently a terrible investment*
*Unless you are thinking long-term and/or have deep pockets and can buy now, more at ~$50, much more at $40, serious money** at $35 and below (for exapmle)
**Serious money LOL?
The largest exchange still suffers reputation problems from a horrendous hack over 2 years ago, and now through a partnership all the USA funds are being moved to American banks.
More convenient for some users, but now the USA Gov can attack the way they did Liberty Dollar (against the King Kong/centralized exchange not Bitcoin itself)
bitcoin isn't backed by anything...
Finally I can turn more positive. :)
Bitcoin is backed by the strongest (known) computer network in the world. Also, low transaction fees*** and ease of sending money Globally are a type of value which gold and silver cannot offer.
***low transaction fees: For sending and receiving BTC. Other transaction fees USD<>BTC are slowly getting better.
ps. Bitcoin is not literally a Ponzi scheme, but has some amazing similarities.
I'm still pro Bitcoin, but this year it is up from $13 to $79, so be careful!
Want DP delivered to your inbox daily? Subscribe here: