1 BTC has gone from $239 to $616

Discussion in 'Financial Planning' started by richj8am30, Jul 7, 2016.

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  1. richj8am30

    richj8am30 Member
      18/23

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    Ok, so the last time that I checked for BTC its value was $239 = 1 BTC. Now that the value is $ 616 to 1 BTC, do you think that you can depend on this form of currency. If the value can rise that fast, can't it crash just as fast?
     
  2. My3Sons_NJ

    My3Sons_NJ New Member
      8/23

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    Absolutely .. since BTCs are virtual currency, there is no real, 'hard' assets on which its value can be leveraged against so its value is whatever people are willing to pay for it. Gold has an intrinsic value and is relatively rare so while its price rises and falls over time, it will always be worth something. BTCs have no intrinsic value other than the value people are willing to pay for it so if it falls out of favor as a currency, it could be worthless overnight.
     
  3. WildSpirit

    WildSpirit Active Member
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    I've read, I've heard and I've already watched many videos about this "magic world" of finance, but I still don't feel completely safe in investing in this novelty. I still think that everything is very vague, without much security (and the financial Market doesn't help to change my mind about this)... It's as if I decide to walk through a minefield (and it doesn't make me feel confident at all).

    I'll rather wait a little longer to see how the financial market will behave itself in the coming months. :)
     
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