Sorry for bringing this to the board. I know it doesn’t belong here but I don’t know where else to ask to get some good direction for researching it. The subject is Crypto Currency and Bit Coin. I have been approached by a couple of people to get on board by investing in it. It doesn’t sound legitimate to me but I can’t find any good information as to how it works. Everything I have read so far is very confusing and very one-sided. I know it doesn’t belong on this board but if anyone knows anything about it and can direct me to a good source that explains how it works would be appreciated.
Gayle
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Sorry Galba, but bitcoins are really, really, REALLY, OFF TOPIC, and DON’T BELONG on this board. It’s like posting on a board about French cooking and asking if anybody knows about race horses, or antique cars.
You might try posting that question on the New Paradigm Investing board if you can’t find a bitcoin board.
Saul
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CNBC last week said that if anyone purchased $100 of bitcoin 7 years ago it would have appreciated to be currently worth 79.2M. I know someone in China that said bitcoin is being used to get money out of the country. I don’t know much about bit coin other than it’s supposed to be a currency that is not backed by a country and is supposed to be untraceable.
Rob
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If you are a member of Amazon Prime and have 96 minutes to invest, this documentary from a few years back is decent.
https://www.amazon.com/Rise-Bitcoin-Daniel-Mross/dp/B00OGM2Z…
I think the price of Bitcoin may be about 3-5x higher now than it was when this documentary was made.
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@galba1931 - If you create another board (or start a thread on it elsewhere, to keep this board on topic), I’ll share what I know about blockchains and the technical aspects of cryptocurrencies (which are based on blockchains, and of which Bitcoin is just a single example out of many). But if you just want the “tl;dr”: I understand blockchain/cryptocurrencies but don’t own any or intent on owning any.
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@galba1931, on anyone else interested in the subject. I found an existing board for Bitcoin discussions. There weren’t any sufficiently detailed posts there already in my opinion, so I wrote this: http://discussion.fool.com/cryptocurrency-primer-32742399.aspx
I hope it’s useful. If you reply there, I’ll try to answer you. I have some personal interesting in Bitcoin on a technical basis but not so much as an investment, for what it’s worth.
1 Like