Quote:
Originally Posted by realcoray
|
The link comes up empty.. but I'll correct myself, the value of it depends on the user market.. so no, its not exempt from devaluation, but the good news is the users control the value instead of a central bank.
Quote:
Originally Posted by GregWeld
Really?? That's not the story I read! It's already been hacked
And the "currency" has swung wildly up and down.
While it's an interesting concept.... Usually the last guys in are
Left holding an empty bag. The concept has been tried many times
So there's history of this kind of stuff if you dig a little. This may be
Different this time.... But I'd say it's a gamble not investing. IMHO.
|
Peoples wallets have been hacked before, but it is correcting. Any bitcoins you have are stored in a wallet, and that is kept on your computer or a flash drive, offline. Like any wealth anywhere, you need to protect that. There are so many layers built into the system that makes it pretty secure. But its at a record level $90 each, someone out there should try to hack and steal right? With its growth, we are already seeing more levels of security built in.
This concept has never been done before as far as I know. It's completely user driven, peer to peer. I've always thought that competing currencies was a good idea, no one should be forced to use just one. And as for investing, many invest in other currencies for security.
I think the whole bitcoin thing is fascinating, it will be interesting to see how it plays out.