Perhaps the timing was bad, but I'm not a stranger to investing in the stock market (technical trading, mainly) and the patterns I see are favorable (although not definitive in any way).
I also just like the idea of bitcoin. I see people bash it all the time for not being a real currency, but the criteria they judge it on applies to all currency besides direct commodities (I'll trade you one cow for two goats).
The USD has as much real value as monopoly money. The gold which used to back it also has no real value. These currencies are a representation of value, but hold no value themselves.
I feel like bitcoin is slightly different. Although it represents value like other currencies (albeit with much volatility) it has the unique characteristic of being distributed and non-regulated (in the sense of visibility into transactions). I can send anybody with an internet connection (or hell, even a street address) bitcoin. I can store enormous amounts of it on in multiple places, encrypted, and effectively have a safe I can access anywhere that only I can open.
So it does have intrinsic value in that it does what other currencies do, but better.
Will it live or die? Live, I hope, because I've got a horse in the race now. I would argue though that if bitcoin were to fail, something very similar would take its place.
Perhaps the timing was bad, but I'm not a stranger to investing in the stock market (technical trading, mainly) and the patterns I see are favorable (although not definitive in any way).
I also just like the idea of bitcoin. I see people bash it all the time for not being a real currency, but the criteria they judge it on applies to all currency besides direct commodities (I'll trade you one cow for two goats).
The USD has as much real value as monopoly money. The gold which used to back it also has no real value. These currencies are a representation of value, but hold no value themselves.
I feel like bitcoin is slightly different. Although it represents value like other currencies (albeit with much volatility) it has the unique characteristic of being distributed and non-regulated (in the sense of visibility into transactions). I can send anybody with an internet connection (or hell, even a street address) bitcoin. I can store enormous amounts of it on in multiple places, encrypted, and effectively have a safe I can access anywhere that only I can open.
So it does have intrinsic value in that it does what other currencies do, but better.
Will it live or die? Live, I hope, because I've got a horse in the race now. I would argue though that if bitcoin were to fail, something very similar would take its place.