If you've been anywhere beyond Facebook on the web recently you've heard of BitCoins. I've always been into BitCoins, I used to mine them but that became boredline unprofitable after the BitCoin crash so, I stopped mining and focused on other things to learn.
Now that the market has regained it's composure and it seems all the bad press around BC is gone, I decided to buy $10 USD worth of BitCoins from Coinbase.
November 7: 0.023 = $10
November 13: 0.023 = $9.30
While this is a loss of 70 cents it's not a huge loss. I wanted to see if I could: (a) Buy BitCoins (b) Make a profit off of BitCoins. So far I have accomplished (a) now the real test is (b).
If all goes as planned I will buy more BitCoins.
But that's where the problem with BitCoins lies, they're not like Stocks or Bonds, they have "real-world" value. Real currency has a definite vaule, $1 USD is $1 USD all day. Where as 0.023 BC is $10 one day and $9.30 six days later. Some BitCoins are bought only to be sold at a later date for a profit (as I am doing) and the other side of that is that some are actually used for purchases of things.
Subscribe to Adventures In Techland
Get the latest posts delivered right to your inbox