BitcoinStackAre you thinking of investing in Bitcoins?

When they were “invented” in 2009, they were worth $0.30 and are worth up to $1000 today.

However, bitcoins don’t really exist.  They are “an open source peer-to-peer payment network and digital currency,” that only exist if someone you are trading with agrees they exist.  (Wikipedia)

Maybe “invest” is the wrong idea.  Maybe we should just plan on using them for trade/barter without the idea of making a fortune on them.  After all, bitcoins do not trade on any exchanges.  In fact, some countries are trying to destroy the things before we get too carried away with them.

Here is the latest from the LOS ANGELES TIMES –

Cashing in on the bitcoin boom

Though still far from the mainstream and too complex for the average consumer, bitcoin already has grown well past its roots as the plaything of anarchists and hackers who viewed it as a political statement against big government and an alternative to credit cards.

Today, consumers are using them at coffee shops, hotels, online stores and even, in some cases, to run their businesses. And every day, dozens more companies are offering to let consumers spend or receive bitcoins for goods and services.

. . . .  over the last four years, the currency has been elbowing its way from the digital ether into popular use — simply because people, companies and organizations have decided to believe that it has value as a currency. Indeed, bitcoin is only the most notable of many virtual currencies that have begun to proliferate worldwide.




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