I wonder how they feel now that MtGox has crashed. Looks like they announced in January before the MtGox meltdown. I'm sure that another exchange will take it's place at the head, probably BitStamp, but who knows how long that will take.
http://www.investing.com/news/forex-news/bitcoin-crashes-50-on-mt.-gox-after-ceo-resigns-from-bitcoin-foundation-268067
A good question is where they'll take theirs to exchange. You can exchange in person, which is safest, but with large sums of money like that chances are they'll have to go to an online exchange. Maybe they'll just keep them, which seems pretty speculative. Bitcoin investing is considered a "long-term high-risk investment."
http://en.wikipedia.org/wiki/Bitcoin (See "Economics" section)
This all just seems really risky, to me. I'm no bitcoin expert by a long shot but I know enough to know that it can be an unpredictable currency.
(http://www.sbs.com.au/news/article/2013/12/16/bitcoin-bubble-has-burst-so-what-are-alternatives -- see the first paragraph.)
Maybe this will work out. I hope it works out as I think that bitcoin is a good idea. It has a lot of potential, but a long way to go. Good post, though; lots of food for thought in it. Thanks for the info!
to post a reply:
login - or -
register