Moved from Investment Strategies to Other Investing (leaving a link). - Chris
NOTE : It remains to be seen whether bitcoin might constitute an investment, and/or constitute a currency, noting that it could be neither. regards, dspp
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Q: What is the biggest hurdle stopping newcomers purchasing their first Bitcoin?
BusyBumbleBee wrote:Q: What is the biggest hurdle stopping newcomers purchasing their first Bitcoin?
A. common sense
Snorvey wrote:It's a fugasi.
mjbdreamer wrote:
DYOR of course but a card with a few crypto-quid on it is a cute present for sons & daughters.
Aldumbell wrote:Perhaps this question belongs more to the realm of the psychology of investors. It does, however, intrigue me as I'm interested in that aspect of investing and human behavior in general.Moderator Message:
Moved from Investment Strategies to Other Investing (leaving a link). - Chris
Aldumbell wrote:
What is the biggest hurdle stopping newcomers purchasing their first Bitcoin?
Lanark wrote:Bitcoin reminds me very much of the dot com bubble in the early 2000s.
People are only buying it because they think it will go up, much like they bought pets.com thinking it would be worth a fortune.
Nobody uses bitcoin to actually buy and sell anything, much like nobody bought their cans of petfood from pets.com
Lanark wrote:We probably will have a global currency at some point, and it may even be block chain based but I very much doubt it will be bitcoin, the currency is too unstable and transactions take far too long. Can you imagine being in the queue at a grocery store and the person in front is paying with Bitcoin: "sorry you'll all have to wait for 20 minutes while the blockchain finalises this transaction"
mjbdreamer wrote:Mention of the technical difficulty of bitcoin is valid. It wasn't easy but it is getting easier.
Now you can purchase bitcoin and have a VISA debit card to spend them. Technical side is now mostly gone as it becomes easy to use. Google helps but this one was first on the list:
http://www.bestbitcoincard.com/
Of course, the card scheme owner has your bitcoin so it might be an idea to have multiple different cards each with a little crypto on to reduce risk.
mjbdreamer wrote:
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Paperless Medium of Exchange
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I do think it's the future and should be used as a savings option for small amounts each month with a view to that yacht and villa in Tuscany based retirement in 2030.
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