This Bitcoin craze is getting out of hand

Yeah man. It's dumb.
How much longer until this silly interwebs fad dies out do you think?

 

It's backed by the collective hashing power of the miners, combined with the design of the protocol. Can the hash level disappear, or a bug be found in the protocol? Sure, and that would kill bitcoin or any other cryptcurrency. It's not backed by a government or corporation, but that's part of what makes it such an interesting experiment.

 

Heard someone recently on a business show say (referring to Bitcoin) "don't invest more than you're willing to lose". Sounds just like what they say when you go to Vegas to gamble. I'm sure three are some making a lot of money, but I'm out.

 

That’s with any investment.

 

Technically true, but comparing Bitcoin (or other crypto currencies) to fairly stable funds (such as an SP 500 fund) isn't quite apples to apples. You don't see the massive fluctuations such as we've been seeing. Although the general stock market has turned to more speculative than fundamental based lately.

 

I feel so old with my lowly pair of EVGA 980ti FTWs.

 

Catch some if you can.

 

Trading from one crypto into another crypto is liquid. Trading large amounts of crypto currency to a fiat currency e.g. US dollars is another matter. I think of it as "Farmville", you grow virtual crops, take it to a virtual market and sell it for virtual cash. Getting your millions of Farmville virtual cash into millions of US dollars from the "exchange" is another matter.

 

Or you could just eat your virtual crops and not fret over the complications of currency exchanges.

Like this guy. Sitting down to virtual food and drink, right here on TW.