Isn't there a chance of this disappearing overnight....I am skeptical about Bitcoins.
There are both potential risks and rewards. Doing business with the Federal only benefits the bankers. If you choose Bitcoin you could lose your money, but with the you are guaranteed to lose your money.
The consumer wins and the bankers lose when people stop using Federal Reserve Notes and start using bitcoins.
Absolutely right about the risk of doing business with the Feds....and banks I don't like at all. My mom wanted to take out $500 last week and asked for $100 bills. They said, sorry we don't have any $100's....a few months ago, when I wanted to take out $3,000, I had to wait almost 2 weeks to get the money in $100's, and because I needed the money before that, I had to take it out with all $20's. There is something wrong with a bank that doesn't have $100 bills for you when you withdraw. I like the idea of the consumer winning and the bankers losing when people stop using Federal Reserve Notes and start using bitcoins. MAKE SENSE.
No matter what form of currency people acquire, there are always risks. You could lose your wallet, someone could break into your home, the currency could crash, even the banks can execute a "bail-in" if they run into financial problems, which means they can make a claim to your deposits.
Being skeptical is good. However, No risk = No reward, and as the number of users of Bitcoin and others increase, so will their value and the confidence of the users in the currency.
Do the research and if you do in fact decide to acquire any of the several cryptocurrencies available, move at a comfortable pace. Never exchange for more than you're willing to risk if a downturn does happen.
Great Advice and thanks...I am going to check into Bitcoin.
Time to do some homework. The USD controls 70% of the currency on the planet. Bitcoin isn't a pimple on an elephant's rear end at this point, and is not a threat to the USD..
Understanding "currency wars" and what each currency represents politically is extremely important.
Further, the bankers have developed a sophisticated shell game with our nation's currency and have financially raped Americans. The Coinage Act of 1792 describes and defines the dollar and those Federal Reserve Notes are NOT the same.
People acquire Bitcoin as a hedge against a "dollar" that continues to lose value. There's a reason why the Founding Fathers insisted on gold and silver as our nation's currency. But since we no longer use them as currency, we need to diversify.
Watch this: https://www.youtube.com/watch?v=6ZCVQHtD2l4&t=1s
There's a boatload of information that will convince you that diversifying in other currencies will improve your personal economy. Nothing ventured, nothing gained.
What is a US dollar?
This is not 1792. That law has been changed. We no longer use gold and silver coins. What do we use for money now in 2017 and how is created and put into circulation?
Also you should look at the law that congress passed in 1791. That created a bank to create the money the nation would use and has used from 1791 to 2017.
Now if you believe we should only use gold and silver coins for our money please inform me on how that would and could be done.
What do people use to invest in the coins?
key word is exchange. You can exchange anything others are willing to accept. Most commonly Federal Reserve Notes.
The Federal Reserve issues paper notes not dollars. Dollars are a representation of wealth and notes represent debt, If you were a farmer and could purchase everything you needed with fruits and vegetables would you? A bitcoin enables people to exchange good and services without using debt based currency.