Maybe this really did in the Dougster...sounds like Bitcoin is done.
The website that exchanged bitcouns for currency shut down while $365M in Bitcoins still out there vanished.
I personally never invested in Bitcoin. I personally invested that money in lap dances. At least i got something for my dollars.
If you already have stock in the virtual money snrk then I would just keep around $10 worth of shares on it. It'll definitely bounce back in the coming years. Nasdaq is still here after all and we all know Dow Jones is bound to bounce back as well.
I actually traded 1 Bitcoin for a lap dance that turned into getting squirted directly in my face in the VIP lounge at La Boheim. It was fuckin gross.
I would short sell Bitcoin if it ever bounced back though...
Also you don't know shit about the DOW estafador. Or the NYSE.
I read about Bitcoin but I never understood it. That was a good reason not to put any money in it.
Bitcoin = fiat currency. It works like most currency in that it is scarce but intrinsically not valuable itself. Also rather than being backed by a state, bitcoin uses decentralized trust.
the dicey part of bitcoin was the transaction anytime people tried to exchange bitcoins for U.S. dollars and vice versa. People kept fixating on that. That was part of the downfall. It also played into the bubble. People were trading bitcoin like it was FOREX or some commodities/futures, which it sort of was, but not really. It was just a decentralized way to pay for goods & services without using "banks" or when cash was inconvenient to move.
IMO. I may be wrong on all of the above.
@bigtallbonerboy I just go what I hear on the news. But I DO know bitcoins well enough, so you can't take that away from me.
Bitcoin was associated with shady stuff, and people were getting theirs stolen all the time, so I think that hurt its progression.
The worst thing? It's not like you could go to a store to buy them, you had to go through a ton of steps to get them. There were also a handful (like under 20) ATM machines in the USA where you could exchange your Bitcoin out for cash.