Reply To: Cryptocurrency

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#1939323
Gadolhadorah
Participant

Yes, yes and yes.
Gave the kids their chanukah gelt in BC and it nearly doubled in a month in the past 6 weeks before dropping back a bit in the past few days. Whats really weird is that it was initially viewed as an uncorrelated “safe haven” kind of investment like gold but has become a speculative product which has drawn a lot of money from gold. Now that several of the major investment banks (JPM, BR, etc) have taken positions, it has given BC legitimacy and attracted more institutional money.

If you can’t handle the incredible (10-15 percent) daily volatility of BC (or the other coins), consider investing in the BC miners or trusts holding BC products which are still crazy volatile but not as much as the coins. You also have to worry what happens the first time we wake up and some big holder announces that their BC wallet has been hacked and a gazillion dollars in virtual currency has vaporized.