mspano85

For bitcoin, no, but for litecoin and maybe even feathercoin, you have a chance to get in where bitcoin once was.

In my opinion BTC has kind of turned into a bit of a pyramid scheme in the sense someone like you comes in and starts investing in the coins while the people like UASIT and myself are early adopters and investors. My setups value over $30k at the moment and I have another $75k worth of BFL ASIC systems that have still not arrived, but am expecting. With all the BTC we have made we have just reinvested it in our equipment. It's going to be hard for someone like you starting out to gain a huge boost. Even my $75k worth of equipment coming isn't even going to make me overly competitive in the next 2 years. If I received that equipment tomorrow I would make my $75k back in roughly 2 months, but it doesn't work that way. When I receive my equipment, so will everyone else, and the difficulty will skyrocket even higher.

I will say this though. BTC is at about $125. If 1% of the world adopts BTC then each coin should be worth over $4000 a piece. It may take 30 years to get there though.

The other downfall is the US Govt is not a fan of it at all. They can't control the tax on it.

Something else to consider is people that are very into the digitcal currency world, like myself, truly believe Litecoin is a better currency than BTC. The biggest knock on BTC is it takes 10 confirmations to make a transaction. The problem with those confirmations is they take time. Think of it as a credit card, but one that takes 10 minutes to confirm your card when paying at the store. Litecoin has very rapid confirmation, and because it is script based and very memory intensive, it not only allows transactions to move quickly like a credit card would, but it also allows for your investment in hardware to not become obsolete next year. ASIC and FPGA systems don't work efficiently with things that require a lot of memory. There is one FPGA designed to work with Litecoin but it is not anymore better or inexpensive than the current hardware.

There is still time. Take the plunge. Get into litecoin, or even feathercoin (doing surprisingly well,) and save them for a couple years. Litecoins have already hit $5 before. My projection is LTC will hit anywhere from $25-50 a piece by mid 2015.

Trr56

Ran into that one today. Will definitely start going at Litecoin with my current computer just to start.
Thanks for the insight!

Wollac

Personally, I think Tulipcoin is the way to go.

crewdawg

I guess I'm old fashioned...I'm just in Real Estate. More wealth building than cash flow for now. Should a furlough ever happen, I'll change to cash flow.

mspano85

Someone in Europe was selling their house for Bitcoin. A couple cars have been sold for BTC including a Porsche.

I'm a big fan of real estate. I currently own, and was thinking of investing in another property to rent out. I haven't taken the plunge yet.

ThisGuy

Do you know if there is a good source to learn more about this subject. Google turns up a ton of hits and not sure where to start. Also is this something a new hire getting into the industry should actually look at.

UASIT

World's First Bitcoin ATM Set to Go Live Tuesday | Wired Enterprise | Wired.com

jungle

Bitcoin is an interesting product, but it is a mistake to assume it cannot be meddled with by future laws or regulation, lots of people thought and think that way about gold and prefer to forget what FDR and others did to gold over the years.

The real question is why people need to seek alternative currencies, and I think most of us understand it may be required exactly because there is so much tinkering going on with state sponsered currencies.

Sum Ting Wong

I'm no fan of fiat currencies either, but I will say that there's a difference between the fiat of the world's largest superpower vs. the fiat of some programmer living in his mom's basement. If the US government says each of 100 quintillion Weimar dollars is still worth 1/100 of a barrel of oil, then that's the price. Bitcoin doesn't have that advantage.

UASIT

In the world of bitcoins...Some big players in Silicon Valley are putting their money behind coinbase.


https://coinbase.com/