It may become more stable in the future but at the moment it's really crazy haha. Everyone is dropping it as a form of currency because they could pay you $20 in bitcoins today and tomorrow that $20 sitting in your account could shrink to $13.72 without warning lol. But if you have some throwaway money you're willing to gamble, you could get lucky and make a 400% return on your "investment". Totally up in the air right now
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The numbers really are crazy 400% return. I have friends that tell me not to pay attention to all of those analysis quotes regarding how much one can earn. It is part of the sales pitch. I laugh and ask well how do explain the numbers that reflect no job growth, what are they trying to sell you when they say there was a 17% increase after an 8 year market of joblessness, which is so much better than the 4% were running on in the past 10 years. Uh huh,
So how do you explain the past 30 years of joblessness in this country where the banks were only offering 0% interest on the national savings rate and that was when the stock market was supposed to have been running great for everyone. They tell me it was because everyone wanted food stamps and did not want to work. I laugh and tell them to come up with another one; while they look at me crazy, they still can't explain who is paying out that 400% return on a bit of information. If it is china I can't get mad, they give me everything else.
CaptainJackTHAC0
Viable source of income? Absolutely not. With all the hype it's receiving right now, and the wild fluctuations Bitcoin has been experiencing in price, it's not even a viable source of currency. Most businesses, including Steam, have stopped accepting Bitcoin because it has become far too volatile.
Bitcoin at the moment is closer to playing craps or roulette. Can you make money? Absolutely, as long as it doesn't tank tomorrow and everyone gives it up. In fact I think there's a good chance Bitcoin will continue to rise in value for the next several months.
That said, it's not a source of income. Bitcoin isn't a stock or bond, and it doesn't provide dividends. Thus the only gains you'll see on it are POSSIBLE market gains, but that depends entirely on what average folks like you and me are willing to pay for it. If enough people agree 1 Bitcoin is worth 1 million dollars, then that's what it's worth. But if nobody is willing to spend 50 cents on a Bitcoin tomorrow then you'd do better picking up nickels off the street.
If you're searching for income through investing I'd suggest dividend investing or grabbing some bonds, possibly in a low cost index fund. But if you've got some fun money to play with, by all means play around with Bitcoin. Just don't throw in any cash you aren't willing to lose. It's definitely not a viable investment strategy, especially considering interest in it has only spiked in the last couple months and could vanish just as quickly when people move onto the next hot stock
AdventVoice
You know that was really not what I wanted to hear. LOL . I can't sell a product with that much smoke and mirrors surrounding it. I mean the way you describe it, I wouldn't ask my best friend to look at it. Not if I like them. I would only ask a drug addict that I knew did not care how much money he spent or where he spent it. Bad Business.
But then when I hear the negatives I am reminded of all those that said the internet was a bad investment and now I wonder how many are rolling in there beds every night saying why did I not invest when I had the chance.