Quote Originally Posted by whittyclaretandblue View Post
People have made a lot of money from them but these are the people who bought a few at the start 10 or so yrs ago when you could get them for a dollar apiece. they say they are secure but as there is nothing physical like other commodities what is to stop them just disappearing into the ether. if you want to see how secure they are google '******* robbery' millions of $ have just vanished.
The price has rocketed and doesn't look like slowing but I was talking to somebody who trades stocks and he said unless you have a lot of money they are not really a good investment now the price has gone so high, a lot of seasoned traders expect the bubble to burst its just a case of when and how much of a hit people take. It reminds me of the old pyramid schemes buy in early you can make money buy in late and poof your money is gone one morning.
I could be wrong and it may keep going up but I certainly wouldn't be risking large sums of money on something that doesn't really exist apart from on the internet.
I share your concerns and wouldn’t invest a lot, but it isn’t a pyramid, there are 21 million of them less some 5 million or so that people have lost (eg when moving to a new computer) or forgotten their customer information. That seems more of a problem to me. The Winklevoss twins who sued Zuckerberg for pinching their idea for Facebook are one of the largest investors and have done nicely thank you. http://www.telegraph.co.uk/technolog...-billionaires/

A lot of others are drug dealers and criminals who can use them to launder money - there are some 90 cashpoint machines in the UK that take cash and give you *******s -ideal for the underworld as you can cash them into any currency in the future. I think Kim Jong Un is another buyer!!

There are also some other digital currencies that I know nothing about.