Any BitCoin users?

cmitch · 04-08-2013, 10:51 AM

Bit coin is a virtual currency that made it's debut in 06 or 07 and has swelled to a currency worth of 750 million U.S. dollars. Not huge, in comparison, but gaining in popularity. Persons who 'invested' in bit coin have seen about a 40% return. It's hyped because of the Cyprus currency break down and the fact it isn't tied to any particular government, so, according to the article I read about it, Bit coin isn't subject to the volatilities of the currency market, which is why I would be scared of it. My biggest question: What or Who stands behind it if something goes sour? Now, it would be great if a large investment firm bought gold and then sold bit coin and it was backed up by the gold.

04-08-2013, 10:51 AM	#2
cmitch Heads up get down Join Date: Oct 2010 First Name: Clayton Location: NW Alabama by the river Posts: 2,720 Trading: (25)	Re: Any BitCoin users? Bit coin is a virtual currency that made it's debut in 06 or 07 and has swelled to a currency worth of 750 million U.S. dollars. Not huge, in comparison, but gaining in popularity. Persons who 'invested' in bit coin have seen about a 40% return. It's hyped because of the Cyprus currency break down and the fact it isn't tied to any particular government, so, according to the article I read about it, Bit coin isn't subject to the volatilities of the currency market, which is why I would be scared of it. My biggest question: What or Who stands behind it if something goes sour? Now, it would be great if a large investment firm bought gold and then sold bit coin and it was backed up by the gold. __________________ No matter what one's status is in society, cigars are the great equalizer where the affluent and common share a love for the leaf. - Me.