Anyone here with bitcoins as an investment?

#3
Bado kuna potential problems na investing with bitcoin
-the value of a bitcoin is much more fickle than other forms of currency coz it's unregulated. It's not regulated by good faith of a government or any other entity.
-Not sold or bought on Wall streets so hakuna brokerage.
-Uninsured bitcoin exchanges - higher rates of fraud and theft... Plus yet to establish a long business track record.
 

Marty McFly

Village Elder
#6
Bado kuna potential problems na investing with bitcoin
-the value of a bitcoin is much more fickle than other forms of currency coz it's unregulated. It's not regulated by good faith of a government or any other entity.
-Not sold or bought on Wall streets so hakuna brokerage.
-Uninsured bitcoin exchanges - higher rates of fraud and theft... Plus yet to establish a long business track record.
You don't understand much about bitcoins. Read widely before making bullet point opinions.
 

Marty McFly

Village Elder
#8
:D:D
Is there anything there that you can term as "wrong"
Bado kuna potential problems na investing with bitcoins.
Which problems?
-the value of a bitcoin is much more fickle than other forms of currency coz it's unregulated. It's not regulated by good faith of a government or any other entity.
Being fickle on the short term yeag. On the long run the graph has always been on the rise.

Decentralised currency means power to the people and banks loosing out in many fronts like high remittance fees etc
-Not sold or bought on Wall streets so hakuna brokerage.
Many and some insured
-Uninsured bitcoin exchanges - higher rates of fraud and theft... Plus yet to establish a long business track record.
Fraud is everywhere and a cold storage wallet is safer then a bank vault.
 
#10
It's a new version of a Pyramid scheme.
Take your money and RUN!

Don't say you were never told.
When shyte hits the fan, people will be jumping off buildings....

Since the start of cryptocurrencies more than 10 years ago ill-informed people have been lying to the public that it is a scam. It is not a pyramid scheme the whole of the bitcoin blockchain is run by everybody, there isn`t any person or institution that has overall power over bitcoin.

Major banks in the world are beginning to adopt blockchain based currency transactions, visa card has launched a bitcoin atm card and most countries in the world now have bitcoin atms, More than 1500 stores in Japan accept bitcoin. The UN is looking into ways it can use ethereum to send money to people in need all around the world.

Map Of Bitcoin ATMS In the World

 
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m245

Village Elder
#14
Show me a pyramid scheme that has lasted over 10years

If you dont know anything about a certain topic sit down and read comments za wenye wanajua

Btc is here to stay and while at it you should aslo look at XMR(monero) you might want to invest in it to
 
#15
Bado kuna potential problems na investing with bitcoin

-Not sold or bought on Wall streets so hakuna brokerage.

Wall street is not = brokerage and its already on Wallstreet http://www.thedailyeconomist.com/2017/03/bitcoin-goes-wall-street-as-exchange.html

https://www.engadget.com/2017/07/26/bitcoin-federal-regulation-exchange-ledgex-protection/


-Uninsured bitcoin exchanges - higher rates of fraud and theft... Plus yet to establish a long business track record

A large number of bitcoin exchanges are insured and there have been many cases of bitcoin traders being refunded after being scammed. For example in Japan Mitsui Sumitomo Insurance is offering bitcoin exchanges in Japan and around the world an insurance policy. Coinbase which is one of the major exchanges in the US is insured.
https://support.coinbase.com/customer/portal/articles/1662379-how-is-coinbase-insured-
 

paparazzi

Village Elder
#16
A techni savvy cousin wants me to fund his investment that involves cryptocurrency mining such as Zcash, Eth etc, he wants me to buy him 7 graphic cards,1080Tis to be exact, to set up his mining rig. I've researched it myself and concluded the electricity used by the mining rig is over the roof and would eat into the small profits, the return on investment will take about a year to recoup but in this turbulent crpto world its remains a gamble. Nwe I love innovation and just on that alone nitasupport uyu kijana.
 

Bark

Village Elder
#17
anyone to set light on the issue of quantum computers? In a few years they will have probably reached the mass market. Mining any cryptocurrency will be a breeze thus posing a threat of destabilizing the very currencies.

Educate us.
 

M-Pesa

Village Elder
#19
anyone to set light on the issue of quantum computers? In a few years they will have probably reached the mass market. Mining any cryptocurrency will be a breeze thus posing a threat of destabilizing the very currencies.

Educate us.
Look at it this way ......bitcoin mining is somewhat similar to gold mining in that, you have to keep mining deeper and with better equipment (read cpus/gpus/mining rigs). In short it keeps on getting harder and harder with more miners coming into the scene just like gold/diamond mining.
 

Bark

Village Elder
#20
Look at it this way ......bitcoin mining is somewhat similar to gold mining in that, you have to keep mining deeper and with better equipment (read cpus/gpus/mining rigs). In short it keeps on getting harder and harder with more miners coming into the scene just like gold/diamond mining.

Fact: "Quantum computing could someday far surpass the processing power of today’s classical computers."

After a few google searches it appears the only thing stopping this from happening is because quantum computers are hard and expensive to build because of the unstable qubits.

Either way the future looks pretty interesting, where economies will be built/destroyed on a virtual platform.
 
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