Has Anyone Invested in Digital Currency (Bitcoin, etc.)

Ronni

The motormouth ;)
Location
Nashville TN
We invested a little in Bitcoin, lite coin and Etherium several years ago. It’s gone up and down and up and down, but that’s fine we weren’t looking for a killing. Currently we’ve tripled our original investment.
 

J.B Books

Member
From the Wall Street Journal:


Defining bitcoin can be tricky. To some, it is a commodity. To others, it is digital cash.

However, the most concrete definition of bitcoin is this: It is software, a program designed to allow people to exchange value directly with each other. It was created by someone calling himself Satoshi Nakamoto, unveiled in 2008 and launched the following year.

What makes bitcoin unique is that this piece of software is run across a network of linked but independent computers. In this way, no one party has control over the network. No central bank and no government can dictate the currency’s value.

Every single bitcoin transaction is recorded in a ledger that is visible to anybody, known as “the blockchain.” Bitcoin’s technology is trusted due to its ability to prevent counterfeits and hacking. The currency’s database has not been pierced once since it went live in January 2009.

Because “bitcoin” is nothing more than digits in a computer program, it has absolutely no intrinsic value. What determines the price is only what another person is willing to pay for it.
 

OneEyedDiva

Well-known Member
Location
New Jersey
From the Wall Street Journal:


Defining bitcoin can be tricky. To some, it is a commodity. To others, it is digital cash.

However, the most concrete definition of bitcoin is this: It is software, a program designed to allow people to exchange value directly with each other. It was created by someone calling himself Satoshi Nakamoto, unveiled in 2008 and launched the following year.

What makes bitcoin unique is that this piece of software is run across a network of linked but independent computers. In this way, no one party has control over the network. No central bank and no government can dictate the currency’s value.

Every single bitcoin transaction is recorded in a ledger that is visible to anybody, known as “the blockchain.” Bitcoin’s technology is trusted due to its ability to prevent counterfeits and hacking. The currency’s database has not been pierced once since it went live in January 2009.

Because “bitcoin” is nothing more than digits in a computer program, it has absolutely no intrinsic value. What determines the price is only what another person is willing to pay for it.
Good info JB...thanks. I'd read about how it works awhile back. Your explanation makes it even clearer.
 
My crypto stalled out a couple weeks, but it has revived .... doing great. Bitcoin hit 62,000.... but my baby was decentraland.... cashed in for the profits while it was high... but I like the program it supports... and when it dips in a couple days, I'm buying in again. Still waiting for Etherium to "moon"... been waiting patiently... and it is beginning to rise. Well, today, it was all on a rise.... the anticipation of the stimulus money! 2021 is supposed to be the year.... I'm certainly not complaining....
 

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